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> "While they might like you, you’re just part of a liquidity Ponzi scheme," Completely incorrect use of the term "Ponzi scheme". > "Their only goal is to mak

> "While they might like you, you’re just part of a liquidity Ponzi scheme," Completely incorrect use of the term "Ponzi scheme". > "Their only goal is to make you liquid or go public. They will support you to do that, but that's about it." I've never met a founder that didn't know that taking a VC money means liquidity is your overarching goal.

Noseshine 10y ago
The guy who founded OwnCloud, who recently made headlines all the way to HN by leaving that company and founding NextCloud using the same open source software, seems to be one of those. I heard an interview a few days ago, in German (somewhere on Youtube, it's very recent), where he listed that as a major downside (of VC capital) and in the end something that lead to his move. I'm sure he if you ask him won't say he was surprised, and that he knew it - but him pointing this out as a major point shows that even if he was aware of it, he was not aware of what that means in reality. > I've never met a founder that didn't know this. "Being aware" of something has several layers. A lot of people are "aware" of things on a conscious level, but when you look at their actions you see that it doesn't seem to influence the behavior. Just "knowing" something doesn't mean all the parts of your brain responsible for your actions got the message. For example, people now speeding or texting and driving may kill you, but I bet those who experienced it first hand will show much improved behavior in that respect compared to those who only "know about it".
- Noseshine 10y ago
  Can't edit any more to fix the typo: For example, people know speeding or texting and driving may kill you, but...
JumpCrisscross 10y ago
By that definition, a bond is a Ponzi scheme because the lender's only goal, in respect of your bond, is to pay back your interest and principal.

Noseshine 10y ago

The guy who founded OwnCloud, who recently made headlines all the way to HN by leaving that company and founding NextCloud using the same open source software, seems to be one of those. I heard an interview a few days ago, in German (somewhere on Youtube, it's very recent), where he listed that as a major downside (of VC capital) and in the end something that lead to his move. I'm sure he if you ask him won't say he was surprised, and that he knew it - but him pointing this out as a major point shows that even if he was aware of it, he was not aware of what that means in reality. > I've never met a founder that didn't know this. "Being aware" of something has several layers. A lot of people are "aware" of things on a conscious level, but when you look at their actions you see that it doesn't seem to influence the behavior. Just "knowing" something doesn't mean all the parts of your brain responsible for your actions got the message. For example, people now speeding or texting and driving may kill you, but I bet those who experienced it first hand will show much improved behavior in that respect compared to those who only "know about it".

Noseshine 10y ago
Can't edit any more to fix the typo: For example, people know speeding or texting and driving may kill you, but...

JumpCrisscross 10y ago

By that definition, a bond is a Ponzi scheme because the lender's only goal, in respect of your bond, is to pay back your interest and principal.