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> Silicon valley is chock full of know-nothing delusionals who love the smell of their own farts a little too much. And Hacker News is full of people who lob b
by austenallred 9y ago
> Silicon valley is chock full of know-nothing delusionals who love the smell of their own farts a little too much.
And Hacker News is full of people who lob bombs at everyone who tries and fails because it makes them feel superior for never having tried, all the while vastly underestimating the difficulty of building something meaningful.
Most efforts at building something great fail, so it’s easy to shit on everything and be right 90% of the time and think you’re a genius. The thing that makes Silicon Valley work is that the times when you’re are what really matter. If you say Facebook is overvalued at $3 Billion (as most of HN agreed) you could easily be wrong not just 1x, but 100x.
The world would be much better off with more people trying and failing while using hyperbolic language than having more trolls throwing parties on their graves. There’s absolutely no shortage of the latter.
- exergy 9y ago[Removed pointless ranting]
- dang 9y agoI'm glad you work at CERN as an engineer. I work at Hacker News as a moderator. Really, please don't "do this". You're doing more damage to this site, which is trying against steep odds to be a place for thoughtful conversation, than even 100% rightness of your points could justify. I assume you benefit from Hacker News, since you're a user here and a welcome one. But if you're benefitting from it, please take care of it, the same way you wouldn't litter in a city park or set fire to one. If you read https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and https://news.ycombinator.com/newswelcome.html https://news.ycombinator.com/newswelcome.html you'll get an idea of the intended spirit of the site. If you have a substantive point to make, make it thoughtfully; if you don't, please don't comment until you do; assume good faith, and please respond to the strongest plausible interpretation of what someone says, not a weaker one that's easier to criticize.
- exergy 9y agoMy apologies. You've a tough job as it is without me adding to your woes.
- dang 9y agoNo worries! Thanks for listening. This is slippery stuff that we all need to be mindful of, especially at 4 AM. Myself certainly included.
- austenallred 9y agoPartially my fault as well. My apologies.
- austenallred 9y agoHeaded to bed. Enjoy.
- yawaramin 9y agoThe thing is, I bet you they would find sympathy here if they launched, competed, and couldn't find a toehold. That would have been an honourable exit. But the way they went out here, after burning through $45m in investment funds and mismanaging a potential sale, then trying to imply blame on the would-be buyer--this doesn't look good at all. Edit: example of HN crowd sympathetic to a postmortem https://news.ycombinator.com/item?id=13421608 https://news.ycombinator.com/item?id=13421608
- austenallred 9y agoWhat shows us it was mismanaged? How do we know the acquiring company didn’t cold feet and bail after the founders had run out of options to hedge? You can’t raise a round with an acquisition pending, so you kind of have to put yourself in a precarious position. Perhaps they could have done something else, but hindsight is 20/20.
- yawaramin 9y agoA few things: - They didn't pay contractors for months of work - They gave no hints to anyone that they were running out of funds - They agreed to stop looking for acquisitions while in discussions, without requiring a bailout penalty clause in exchange - $45m for a lock? Where the heck did it all go? Elon Musk's initial investment in Tesla was $6m in 2004.
- greglindahl 9y agoI have been a founder at 2 startups that were acquired. In both cases there was a "noshop" with no bailout penalty. But the "noshop" didn't say we couldn't look for additional investors. I don't see anything in this writeup that implies that the noshop was unusual.
- minimaxir 9y ago"Hacker News always trolls new products" and "Entrepreneurs should always ignore Hacker News because they always troll new products" are equally problematic absolutes.
- austenallred 9y agoOn that we are agreed