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To me, this feels like a pretty normal market process, more than a giant leap of human goodness. These investors are seeking returns. For the past 6 decades, a
by iambateman 9y ago
To me, this feels like a pretty normal market process, more than a giant leap of human goodness.
These investors are seeking returns. For the past 6 decades, a tiny area of the country provided great returns. The compacted nature of the “Valley” helped concentrate resources and grow companies.
But at some point there is less incremental benefit to stuffing one more tech startup into SF than there is looking “afield” to further reaches of the country.
This is a fantastic sign for people like me who live in lowly (but lovable) Columbia SC. For too long, the investment pool has been a drip, even while the talent pool grows.
Good job investors. We can’t wait to see you. And if I may, please don’t imply that you’re doing this for any reason other than maximized returns. We’re all adults here.
- saturdaysaint 9y agoThese are fair points, yet the most prominent names attached to this fund are also pretty active participants in the national political conversation (J.D. Vance, Bezos, Buffet). Vance, who is leading this, is famous for moving back to his home region, beleaguered Appalachia, on mostly altruistic terms. Bezos has been targeted with tweets from the president suggesting a thirst for brute force regulations on Amazon and WaPo for nakedly political reasons. I don't think it's naive to posit that altruism and a concern for the political order are at play here. This group of people suggests to me that they're realizing that having so much of our economy concentrated in a few states is a political vulnerability that can be easily exploited by a demagogue.