2 ms·
These companies are literally small businesses. They're not about maximizing profit or utility, they're about blowing venture capital in the search of biggest f
by zeroname 8y ago
These companies are literally small businesses. They're not about maximizing profit or utility, they're about blowing venture capital in the search of biggest fool to pay the highest price in an IPO or acquisition.
It's indicative of an era of cheap and dumb money, where FOMO is driving investment - just like before the dotcom bust.
- areoform 8y agoThe VCs funding these companies are about as much to blame for the "servant economy" as they are for the weather. They're a tiny piece of the computation and a minute fraction of the resources being deployed. They might be at the vanguard but they control what comes next just about as much as a surfer controls the waves. It's not their fault. It's humanity's for not aligning the incentives of these great systems properly.
- zeroname 8y agoThere is no "servant economy" and these people are not servants. They're performing services that happen to not be well-paid, because virtually anyone can do them. You need virtually no education or skill. The "gig economy" didn't change that.
- Apocryphon 8y agoSurely they could choose to fund other companies?