"Investors, employees, and founders, to varying degrees, will squander time, energy, enthusiasm, money in pursuit of a mirage" Most 'employees' will never see

"Investors, employees, and founders, to varying degrees, will squander time, energy, enthusiasm, money in pursuit of a mirage" Most 'employees' will never see any significant upside in any of the startups they've worked at or will work with - so their compensation is their livelihood and not exactly a waste of time. There is a lot of inefficiency at big companies as well, so it's arguable that most tech workers are 'wasting at least some of their time' in the big disorderly march to progress. They are also gaining skills. But I agree it's a pretty bad thing to do to raise money to 'figure things out'. I'd loathe to think of how many of those would actually get funded.