There are many things wrong with this article. The 16-year old daughter opining about what is wrong with VC is perhaps the most telling though. None of the art

There are many things wrong with this article. The 16-year old daughter opining about what is wrong with VC is perhaps the most telling though. None of the article is based on any deep understanding of the issues. It is generalizations about people (alarmingly, with the implication of race and gender) and an industry that the author doesn't seem to know (if you are using The Code as your source, stop...think about what you are doing). As an example, people don't understand that SV benefiting from government research money is not the same thing as proving that research money was the cause. In fact, lots of other countries did this, and no-one else got anywhere. The UK, in particular, was entirely convinced by the notion that the govt could save the economy in the 1960s...nothing worked, and this attitude triggered one of the most severe crisis in British economic history (much worse than the Great Depression). The rest of the article continues in the same way: pointing to specific examples but failing to see that they don't generalize (the stuff comparing Nordic/South America/US is actually shocking to read as someone who studied economic history, willfully false). I think the world is going to see more of this. People in tech are always wrong. Their identity is wrong. They aren't "like us". But saying that they fail to innovate is...insane. I am not a fan of tech people or SV at all...it is a hotbed of charlatanism...but that is the point of capitalism, that is why we don't like in wood houses anymore. No-one knows what is going to work ahead of time. The system must be decentralized, and we must not have people like the author trying to say that certain innovations are more valuable than others. (Btw, one of the big issues that tech has is that lots of young people actually don't understand the real world isn't like the Lorax. There isn't this group of people who are automatically evil, and are causing all the bad things. Life is ambiguous, and people who often end up doing bad things have intentions...life isn't a movie).