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I'm amused by these morality screeds from rich tech thought leaders. "Why don't the talented sacrifice easy money in software by getting into [insert super reg

I'm amused by these morality screeds from rich tech thought leaders. "Why don't the talented sacrifice easy money in software by getting into [insert super regulated, low-margin business]?" says profit-maximizing tech capitalists who ignored said businesses for a decade. I will make the best decisions for me, and you will make the best decisions for you. If you want to charity-fund a business that helps society more than your profit margin, then pay me the same amount of money and eat the loss on your end. I'll keep working at what pays me the most, as will 99% of everyone.

TuringNYC 7y ago
My other favorite is when VCs pretend their risk taking in MANY businesses is equivalent to founders' risk taking in a SINGLE business. No. Founders dont have portfolios to even out risk. They have a single lottery ticket. Worse, are VCs who say this, because you know they actually know better.
troughway 7y ago
100% agreed. These same muppets hailed globalization and tried to sell us on this with their trite blog posting bullshit. Why are they backpedaling now? Turns out the grass isn't always greener on the other side, huh?
bhl 7y ago
For that reason, I prefer Chamath Palihapitiya's 2019 annual letter [1] over pmarca's essay. It's not merely descriptive of societal problems at large, but calls out actor and makes prescriptions. Two lines from the letter > Governments can do a lot to make it more expensive for Big Tech to hoard human capital and allow this talent to flow more naturally to small businesses and startups so that they can more effectively compete and create vibrant ecosystems. > The intellectual lobotomization of smart, young STEM talent has been an explicit strategy by Big Tech fueled by unseemly profitability and hi flying stock prices. I think the reason why pmarca's essay is so tame in comparison, is that pmarca believes you can have the best of both worlds: high venture returns and non-tech societal progress that doesn't necessitate government. [1] https://www.socialcapital.com/annual-letters/2019 https://www.socialcapital.com/annual-letters/2019
- seibelj 7y ago
  This is excellent and I enjoyed it deeply. Thank you for linking it. I didn’t agree with everything but I especially liked his focus on friends, family, health, and being true with oneself over the opinion of others. This VC seems very respectable.

TuringNYC 7y ago

My other favorite is when VCs pretend their risk taking in MANY businesses is equivalent to founders' risk taking in a SINGLE business. No. Founders dont have portfolios to even out risk. They have a single lottery ticket. Worse, are VCs who say this, because you know they actually know better.

troughway 7y ago

100% agreed. These same muppets hailed globalization and tried to sell us on this with their trite blog posting bullshit. Why are they backpedaling now? Turns out the grass isn't always greener on the other side, huh?

bhl 7y ago

For that reason, I prefer Chamath Palihapitiya's 2019 annual letter [1] over pmarca's essay. It's not merely descriptive of societal problems at large, but calls out actor and makes prescriptions. Two lines from the letter > Governments can do a lot to make it more expensive for Big Tech to hoard human capital and allow this talent to flow more naturally to small businesses and startups so that they can more effectively compete and create vibrant ecosystems. > The intellectual lobotomization of smart, young STEM talent has been an explicit strategy by Big Tech fueled by unseemly profitability and hi flying stock prices. I think the reason why pmarca's essay is so tame in comparison, is that pmarca believes you can have the best of both worlds: high venture returns and non-tech societal progress that doesn't necessitate government. [1] https://www.socialcapital.com/annual-letters/2019 https://www.socialcapital.com/annual-letters/2019

seibelj 7y ago
This is excellent and I enjoyed it deeply. Thank you for linking it. I didn’t agree with everything but I especially liked his focus on friends, family, health, and being true with oneself over the opinion of others. This VC seems very respectable.