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On the other hand, you can think of dumb money like SoftBank as desparate money and the jobs it creates as workfare in everything but name. Lots of people who
by thetruthwillout 7y ago
On the other hand, you can think of dumb money like SoftBank as desparate money and the jobs it creates as workfare in everything but name. Lots of people who would otherwise not get the chance, are getting paid and stuffing their resumes working for these places. These doomed companies are essentially allowing investors to pay for the training of employees who will be adding value to the not-doomed companies that will come after.
- CalChris 7y agoWorkfare. I agree it provides employment but it also bids up salaries. Moreover, anti-unicorns like WeWork make it more difficult for real startups motivated by survival and profit.
- mrkstu 7y agoConsidering past conspiracies to restrain information workers salaries, this may just be restoring some of the missed natural growth. The FAANG companies aren't having any problems keeping up with the Softbank funded companies.
- ppf 7y ago>allowing investors to pay for the training of employees who will be adding value Putting on my most cynical hat, what value is there in flashy web frameworks and marketing hacks?
- AlexandrB 7y agoThen it would be better to put the dumb money to work fixing/improving infrastructure or doing something else useful. As it stands, some of this looks like one great, big broken window parable[1]. [1] https://en.wikipedia.org/wiki/Parable_of_the_broken_window https://en.wikipedia.org/wiki/Parable_of_the_broken_window