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It is probably not actually good for PG, because the majority of such people will fail and end up destitute, casting bad publicity (rightly or wrongly, doesn’t
by mlthoughts2018 7y ago
It is probably not actually good for PG, because the majority of such people will fail and end up destitute, casting bad publicity (rightly or wrongly, doesn’t matter) on whatever start-up churner generated that outcome.
Additionally, founders who already come from wealth or have political connections, etc., are probably much more likely to succees in the financial senses that PG wants.
The only limited sense in which it’s good for PG is if there is a lottery winner he can claim credit for, a rags-to-riches story to whip up blind support for some ludicrous tech millionaire idealism.
- pnongrata 7y agoNot many people care about startup failures, except high profile ones.
- mlthoughts2018 7y agoJournalists looking to (justifiably or unjustifiably) undermine start-up incubators or VC firms easily could care. You could just as lazily & dismissively say nobody cares about failed taxi drivers, and yet there it is on the front page of the most popular Western newspaper in the world. If there’s an angle to make it a story, people will care. The angle to make it a story about how start-up programs are basically scams exploiting lottery biases of people not in a life position to sustain that risk is very easy, straightforward & compelling to a wide audience. And hence it’s probably bad for PG & others if people without safety nets are going bust on failed start-ups.