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>"This has created money silos, where the US aristocracy will take hundreds of billions in loses to capture a market and then extract value in monopolistic ways
by bogomipz 7y ago
>"This has created money silos, where the US aristocracy will take hundreds of billions in loses to capture a market and then extract value in monopolistic ways."
I was curious about the above sentence. Who is the aristocracy in the context of startups? Are you referring to the VCs? If so don't the VCs not care about the "class" of the founders of a startup as long as they think there's money to be made from their company?
- 4ntonius8lock 7y agoYou are right, they don't care. If they did, someone would take their place. It's a system, not a conspiracy. But an Ivy graduated person is a class of person that is highly committed to the system. There's a massive effort a whole family has to make for someone to be there. If success is based on capturing the most market share the quickest so you can corner the market and extract value via monopolistic methods, then why go with anyone who could be a risk? Edit: Re who is the aristocracy? There is no exact line. Society works on a gradient of privilege, from those who have access to resources with the least effort, to those who have access to resources with the most effort. This always happens. But I believe it is aggravated when money doesn't cost anything to produce because risk is then more important than reward.