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> This is a paradox of invention, as well as of investing: Bad times feed good ideas, which in turn lead to good times, which breed complacency, waste and lots

> This is a paradox of invention, as well as of investing: Bad times feed good ideas, which in turn lead to good times, which breed complacency, waste and lots of bad business plans. These days when I discover a new startup, I basically assume they're riding investment money for personal income until proven otherwise. The amount of frivolous startups right now is ridiculously high. I also think this shows the idiocy of the idea that capitalism rewards productivity and efficiency. The majority of these startups are doing stuff that nobody uses now, probably nobody will use in 5 years, and that flat out won't exist in 10. But that's not stopping lots of people from going out and making their fortunes doing this. Meanwhile we can't raise the minimum wage when in fact at least the bag guy at my grocery store is providing a real service that people benefit from.

jinushaun 11y ago
The "market" has realized and optimized for creating frivolous startups that act as extended resumes in order to be acquired. It's really sad. :( The speed at which startups are created and subsequently acquired is so fast now that, as a user, I have no faith any more in signing up for the "next big thing" and giving them my data. The site will shut down in a few months anyway…
eruditely 11y ago
>These days when I discover a new startup, I basically assume they're riding investment money for personal income until proven otherwise. The amount of frivolous startups right now is ridiculously high. It's supposed to be an alternate way of working if we follow pg. You're making it seem like it's a scam when it's a different paradigm of working that happens to have the optionality of massive growth potential. There's nothing frivolous about it as long as it's legitimate and can accomplish what it's setting out to do.
- copsarebastards 11y ago
  > It's supposed to be an alternate way of working if we follow pg. You're making it seem like it's a scam when it's a different paradigm of working that happens to have the optionality of massive growth potential. In many cases, it is a scam. Ponzi schemes could also be rebranded as a different paradigm of working. And if you get out at the right time, a Ponzi scheme also has the opportunity of massive growth potential. 99% of startups aren't actually doing anything. They're just putting shiny interfaces on vapor. > There's nothing frivolous about it as long as it's legitimate and can accomplish what it's setting out to do. It's not legitimate, because it's not setting out to do anything except make money. Most startups aren't producing anything. I'd use the phrases "lipstick on pigs" or "turd polishing", except pigs and turds are actually useful. Most startups actually produce things worse than pigs or turds: they produce nothing of any value. And of the startups which are actually solving real problems, many startups actually are are solving problems for people I don't care for, and are actually actively harmful. Yes, you can make money and be "successful" as a startup, but to quote Randall Munroe, "I never trust anyone who's more excited about success than about doing the thing they want to be successful at." I'll give you one thing: people's intention when they start a startup isn't usually to openly steal people's money; they usually at least fool themselves into thinking they will be providing some real utility. But that doesn't make much difference to people whose retirements will take a hit when the tech bubble bursts.
briholt 11y ago
I always assume startups are riding investment money for personal income until proven otherwise.

jinushaun 11y ago

The "market" has realized and optimized for creating frivolous startups that act as extended resumes in order to be acquired. It's really sad. :( The speed at which startups are created and subsequently acquired is so fast now that, as a user, I have no faith any more in signing up for the "next big thing" and giving them my data. The site will shut down in a few months anyway…

eruditely 11y ago

>These days when I discover a new startup, I basically assume they're riding investment money for personal income until proven otherwise. The amount of frivolous startups right now is ridiculously high. It's supposed to be an alternate way of working if we follow pg. You're making it seem like it's a scam when it's a different paradigm of working that happens to have the optionality of massive growth potential. There's nothing frivolous about it as long as it's legitimate and can accomplish what it's setting out to do.

copsarebastards 11y ago
> It's supposed to be an alternate way of working if we follow pg. You're making it seem like it's a scam when it's a different paradigm of working that happens to have the optionality of massive growth potential. In many cases, it is a scam. Ponzi schemes could also be rebranded as a different paradigm of working. And if you get out at the right time, a Ponzi scheme also has the opportunity of massive growth potential. 99% of startups aren't actually doing anything. They're just putting shiny interfaces on vapor. > There's nothing frivolous about it as long as it's legitimate and can accomplish what it's setting out to do. It's not legitimate, because it's not setting out to do anything except make money. Most startups aren't producing anything. I'd use the phrases "lipstick on pigs" or "turd polishing", except pigs and turds are actually useful. Most startups actually produce things worse than pigs or turds: they produce nothing of any value. And of the startups which are actually solving real problems, many startups actually are are solving problems for people I don't care for, and are actually actively harmful. Yes, you can make money and be "successful" as a startup, but to quote Randall Munroe, "I never trust anyone who's more excited about success than about doing the thing they want to be successful at." I'll give you one thing: people's intention when they start a startup isn't usually to openly steal people's money; they usually at least fool themselves into thinking they will be providing some real utility. But that doesn't make much difference to people whose retirements will take a hit when the tech bubble bursts.

briholt 11y ago

I always assume startups are riding investment money for personal income until proven otherwise.