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Sure. It motivates millions of young developers to try to become kings.
by sillysaurus3 8y ago
Sure. It motivates millions of young developers to try to become kings.
- amelius 8y ago> Sure. It motivates millions of young developers to try to become kings. ... so VCs can profit.
- sillysaurus3 8y agoSo? The point is that millions of people are trying to create things who otherwise wouldn't.
- amelius 8y agoMillions of developers are shooting for the moon, while of course only few succeed, but VCs are laughing all the way to the bank because they spread their risks.
- sillysaurus3 8y agoAgain: So? I think people focus too much on the "VCs are getting rich" part while overlooking "the world is creating thousands of things that wouldn't otherwise exist" part. If you imagine what the world would be like without any incentive to create, it would be a very different place.
- amelius 8y agoThere's nothing wrong with it per se, except the image of "becoming wealthy like a king" isn't realistic, and the ones profiting from this image are the VCs.
- nostrademons 8y agoThe GitHub founders likely did quite well. They were completely bootstrapped until they took a $100M Series A from a16z in 2012 (5 years after founding), and then took a $250M Series B valuing them at $2B from a16z, Sequoia, etc. in 2015. Figure that they gave up 12.5% in the Series B and 30% in the Series A with a 1x liquidation preference, and that they sold for $4-5B to Microsoft (it's unlikely the VCs would allow a sale that didn't at least double valuation since 2015). The three founders then split ~60% of the roughly $5B, for a cool billion dollars each.