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> People starting businesses with bad business models don't offend me on a moral level. In a pure sense, I'd like to agree with you, but there are a couple of
by rodgerd 10y ago
> People starting businesses with bad business models don't offend me on a moral level.
In a pure sense, I'd like to agree with you, but there are a couple of things I see as being problematic at the moment:
1/ In many countries businesses or investors are often able to aquire political support to prop up failing businesses at the expense of broader society. When my pirate-themed restaurant goes broke, well, such is life. When someone like, say, a venture capitalist with the ear of the president of the US has a bunch of endangered investments you may well find your pockets being picked to prop up his bank balance.
2/ The trend for "disruption" means that the failing businesses may well have already destroyed previously-viable businesses (often as a result of running at a huge loss, not necessarily because they offer better product); that's an especially huge hazard in areas like education. The collapse of the VC-funded punt after it's already demolished what already existed leaves a smoking hole in the ground. If that's "one less restaurant in town", that's one thing. If that's "we ran down public transport and education because unicorns told us they'd solve the problem and now we have neither transport nor schools", well, that's a bit different.