One thing missing from the 'startups create value' argument is that some startups don't create much new value but simply absorb value from elsewhere by providin

One thing missing from the 'startups create value' argument is that some startups don't create much new value but simply absorb value from elsewhere by providing a more efficient lower friction way of doing something that was done in a different way before. Before I'm misunderstood, I'm not arguing that it's a negative result in the grand scheme, but it helps to be aware that this can actually lead to greater inequality if many people lose their jobs to a startup that only requires a handful of people to run it, where previously thousands were required.