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His point wasn't about VC, it was about the fact that introducing new goods and services usually fails, so if we remove the big reward for success, people will
by cousin_it 7y ago
His point wasn't about VC, it was about the fact that introducing new goods and services usually fails, so if we remove the big reward for success, people will stop taking that risk.
- leereeves 7y agoLots of people start startups that they know will never make them billionaires, and even the founders of Google never expected the huge rewards they've reaped. And there are ways of reducing the risk by not growing too quickly, building a company with actual revenues instead of burning VC cash. The only thing reduced inequality would kill is the Silicon Valley variety of startup, which would be a good thing for everyone outside Silicon Valley. It would give sustainable businesses a chance to grow without having to compete with companies who burn billions of dollars to buy the market.