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And it would be great if we, as a society, had the capital to invest in them. But instead we've got WeWork and Bird. California has been drinking the kool-aid

And it would be great if we, as a society, had the capital to invest in them. But instead we've got WeWork and Bird. California has been drinking the kool-aid for a bit too long, this is just exposing the pitfalls of allowing wealthy VCs to choose winners and losers by funneling billions of dollars into ridiculous and unprofitable ideas.

edanm 7y ago
> And it would be great if we, as a society, had the capital to invest in them. But instead we've got WeWork and Bird. Is it really "instead"? VC makes up a tiny percentage of investment overall. Most traditional businesses should get a bank loan. Amount of money for bank loans >>> money for startups IMO.