One thread that is interwoven throughout the piece but surprisingly not called out explicitly is the role of the tech media in the glamorization of high-growth,

One thread that is interwoven throughout the piece but surprisingly not called out explicitly is the role of the tech media in the glamorization of high-growth, high-exit-return startups and their investors. Nostrademons has some good points about the virtues of startups that Wil didn't touch upon (though I'm sure he's aware of them. His piece doesn't strike me as though he's blanket-bashing venture-capitalized startups). The dollar amounts attached to these "lottery" startups (whether in investment or in exit) are awesome, but not outrageous, especially given who the investors are. The one thing that Wil said that did bother me was his assertion that a funded started is necessarily a "mining" startup, to use his metaphor. I see it his way, and it brought me down a little bit, even though I already knew it inside.