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I always feel bad when I see startups come from a rich guy chasing fame or increasing the family wealth, they have a great and vital tool (money) but not a prob
by lalos 8y ago
I always feel bad when I see startups come from a rich guy chasing fame or increasing the family wealth, they have a great and vital tool (money) but not a problem to solve nor an edge in the industry they are attacking. Kind of ironic, but hey throwing money to random ideas at least generates jobs and moves the economy.
- dualogy 8y ago"The journey is the destination" isn't the worst of motivations and/or inadvertent side-effects =)
- tlb 8y agoThrowing money at unworkable ideas makes the world worse, because it employs people that could be working on good ideas instead. For example, Theranos was a tragedy not because investors lost money (it's part of the deal) but because hundreds of smart scientists and engineers spent years working on something that went nowhere. All that talent directed elsewhere could have built something great.
- mattthebaker 8y agoThe 'unworkable ideas' can typically only be determined in hindsight. Pushing the cutting edge will always result in some paths that lead to nowhere. Theranos was a good idea, the tragedy was rampant fraud.