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You and I have very different definitions of "sustainable". Absolutely nothing about the modern global economy is "sustainable" for the planet. Infinite growth
by bobbydroptables 6y ago
You and I have very different definitions of "sustainable". Absolutely nothing about the modern global economy is "sustainable" for the planet. Infinite growth is not a realistic goal. We need to start putting a sustainable planet above a sustainable income statement.
Setting that aside, failing startups are actually great for the average Joe. You've basically sucked off an enormous amount of capital from naive but rich investors and transferred it to the employees and local businesses where the company is based. Even consumers can benefit if prices are subsidized like Uber, etc. They can also brutalize corrupt local industries like taxis and hotels.
Failing businesses also teach lessons about dumb capital and dumb managers. Smart capital and smart managers usually take notes.
It's basically win-win all around except for whichever rube is holding the shares when the house of cards collapses, which, as I said some people have more money than sense.