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Most weath created in capitalism is a result of very recent development (see all IT companies that top S&P500). The generalizations that this article promotes,

Most weath created in capitalism is a result of very recent development (see all IT companies that top S&P500). The generalizations that this article promotes, do seem akin to communist pamphlets. Those also use populist rethorics and half truth to steer hatred towards the rich.

kristopolous 7y ago
There's a huge class element to startups. The rich well connected people get more funding faster. The equity distribution and contract negotiations is based on social connections and power dynamics. The access to the right higher education is based on parent's wealth. I totally have a preference during hiring and promotions whether I like to admit it or not if someone is like me in some substantiative way. I also put up with more bullshit from them. Power perpetuates itself even when you fight again it The entire silicon valley is dripping with classic robber baron style clubhouse capitalism enormously predetermined by class. Whenever everything is run by a bunch of similar looking white dudes who grew up in rich neighborhoods claiming it's some bountiful meritocracy of equal opportunity skill based free market Utopia requires some mighty fine rose colored glasses. There's an important reality here that organizes and filters the structure. And to ward off the classic responses: 1 It's not necessarily a bad thing. 2 I'm not saying there's something wrong with it 3 I'm blaming nobody 4 I'm not saying it needs fixing 5 I mostly vote libertarian This is just a reality and your personal politics shouldn't get in the way of acknowledging the sky is blue and water is wet.
- golemiprague 7y ago
  It was not and is not different in any socialist or communist country. After all the UK is more socialist than the US but as you can see it doesn't matter the fundamental power hierarchies. There are always some people who are in the right group to attain more money and power.
- dunnevens 7y ago
  Your description is dead on. And it's absolutely dystopian, especially for anyone who falls outside of the specific caste described. But I find it odd that you wouldn't think there's something wrong with it. Essentially large swaths of the population are locked out. That is a huge problem.
  - dpc59 7y ago
    It's easy to not give a fuck when you benefit from the inequality.
  - kristopolous 7y ago
    The first step is to get people to acknowledge reality without morally tagging everything. The moral tagging creates emotional walls to keep the acknowledgement of reality out. Leaving it out avoids tribalism and other tropes from dominating the discourse. If you can get people to at least agree on the terms of reality and the context it exists in, that's a major win.
- ericd 7y ago
  YC admits a wide range of founders, and gives them excellent access to SVs networks. This whole class fatalism/cynicism thing is really disheartening to see repeated over and over on the internet as if it’s some fundamental truth, it doesn’t reflect my experience at all. It’s certainly not “sky is blue and water is wet” level certainty.

kristopolous 7y ago

There's a huge class element to startups. The rich well connected people get more funding faster. The equity distribution and contract negotiations is based on social connections and power dynamics. The access to the right higher education is based on parent's wealth. I totally have a preference during hiring and promotions whether I like to admit it or not if someone is like me in some substantiative way. I also put up with more bullshit from them. Power perpetuates itself even when you fight again it The entire silicon valley is dripping with classic robber baron style clubhouse capitalism enormously predetermined by class. Whenever everything is run by a bunch of similar looking white dudes who grew up in rich neighborhoods claiming it's some bountiful meritocracy of equal opportunity skill based free market Utopia requires some mighty fine rose colored glasses. There's an important reality here that organizes and filters the structure. And to ward off the classic responses: 1 It's not necessarily a bad thing. 2 I'm not saying there's something wrong with it 3 I'm blaming nobody 4 I'm not saying it needs fixing 5 I mostly vote libertarian This is just a reality and your personal politics shouldn't get in the way of acknowledging the sky is blue and water is wet.

golemiprague 7y ago
It was not and is not different in any socialist or communist country. After all the UK is more socialist than the US but as you can see it doesn't matter the fundamental power hierarchies. There are always some people who are in the right group to attain more money and power.
dunnevens 7y ago
Your description is dead on. And it's absolutely dystopian, especially for anyone who falls outside of the specific caste described. But I find it odd that you wouldn't think there's something wrong with it. Essentially large swaths of the population are locked out. That is a huge problem.
- dpc59 7y ago
  It's easy to not give a fuck when you benefit from the inequality.
- kristopolous 7y ago
  The first step is to get people to acknowledge reality without morally tagging everything. The moral tagging creates emotional walls to keep the acknowledgement of reality out. Leaving it out avoids tribalism and other tropes from dominating the discourse. If you can get people to at least agree on the terms of reality and the context it exists in, that's a major win.
ericd 7y ago
YC admits a wide range of founders, and gives them excellent access to SVs networks. This whole class fatalism/cynicism thing is really disheartening to see repeated over and over on the internet as if it’s some fundamental truth, it doesn’t reflect my experience at all. It’s certainly not “sky is blue and water is wet” level certainty.