3 ms·

I hate this attitude that the "pretty people" are going to ruin the "party" for the people who were already there. What a gross over generalization not based on

by n0us 11y ago

I hate this attitude that the "pretty people" are going to ruin the "party" for the people who were already there. What a gross over generalization not based on any sturdy foundation of reason. The author just feels like companies are worth too much without any experience or justification to make that claim. He hasn't seen the term sheets for these companies, he hasn't been there for investor meetings and board meetings to discuss long term strategy. But people from the upper middle class make a nice target, so he just blames an entire vague socioeconomic group for a problem he can't connect them to. I'm sorry but articles like this are why I sometimes can't take the tech media as seriously as I'd like to.

vonklaus 11y ago
I agree. I don't want to fall prey to the same problems the article does, and fold tech crunch in as a single entity as well as a single sector, but: It is pretty fucking laughable that an article in techcrunch is decrying the glorification of unicorn / startup culture. What, if not publications like this, created that culture? This isn't some hyper exclusive off-campus party in college. Shoe companies need backend accounting software. Every company needs technology? > He hasn't seen the term sheets for these companies, he hasn't been there for investor meetings and board meetings to discuss long term strategy Obviously, one can to some extent predict how "valuable" a company is. But people are pretty fucking quick to write off M & A and VC deals as "bad" or "overvalued". Paul Graham said something like, 'when I saw how much snapchat was worth I thought wow, it was like someone had measured it and that was the value'. I bet that the team of people and consultants tearing through he books on due diligence, weighing the synergy and value gained by integrating it into the acquiring company, and all of the long term trend analysis, of both companies their unreleased products and long term strategies, have a better picture than me.

by n0us 11y ago

vonklaus 11y ago

I agree. I don't want to fall prey to the same problems the article does, and fold tech crunch in as a single entity as well as a single sector, but: It is pretty fucking laughable that an article in techcrunch is decrying the glorification of unicorn / startup culture. What, if not publications like this, created that culture? This isn't some hyper exclusive off-campus party in college. Shoe companies need backend accounting software. Every company needs technology? > He hasn't seen the term sheets for these companies, he hasn't been there for investor meetings and board meetings to discuss long term strategy Obviously, one can to some extent predict how "valuable" a company is. But people are pretty fucking quick to write off M & A and VC deals as "bad" or "overvalued". Paul Graham said something like, 'when I saw how much snapchat was worth I thought wow, it was like someone had measured it and that was the value'. I bet that the team of people and consultants tearing through he books on due diligence, weighing the synergy and value gained by integrating it into the acquiring company, and all of the long term trend analysis, of both companies their unreleased products and long term strategies, have a better picture than me.