3 ms·
I think most of the backlash came from the way that startup wealth was definitively placed in the "good" bucket in the prior essay. Yes, on the whole startups
by aliston 11y ago
I think most of the backlash came from the way that startup wealth was definitively placed in the "good" bucket in the prior essay.
Yes, on the whole startups create wealth and that's generally a good thing. BUT... there is a still an open question as to whether the current SV culture and associated wealth inequality is entirely "good." In other words, it's not a binary question.
There is all sorts of financial chicanery associated with startup wealth that make it decidedly unmeritocratic. I've known a number of founders make millions with unprofitable companies that hardly contributed millions of dollars worth of value to the world. As far as I'm concerned, its a virtual certainty that the current startup allocation of capital is not efficient in a utilitarian sense.