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Government funding is extremely wasteful and will generally go into the pockets of the well connected. The problem is this game has been played for a long time
by rapsey 6y ago
Government funding is extremely wasteful and will generally go into the pockets of the well connected. The problem is this game has been played for a long time and it has diminishing returns. The players have had decades to get the exploitation down.
Yes sillicon valley exists because of government money. But that was like 70 years ago. The world has changed and corruption is more severe. You will get no such bang for your government grant buck now.
- ClumsyPilot 6y agoRemind me how is that WeWork and Theranos investment going?
- nickpp 6y agoPlenty of startups crash and burn. It comes with the territory. What is your point?
- ClumsyPilot 6y agoNo-no, this is not examples of ordinary wastefullness and 'crash', these were outright fraud. The exact same thing the OP accuses government grants of perpetuating. Your post is a perfect example that with startups that's just accepted and glossed over.
- nickpp 6y agoWell maybe because in government grants waste and fraud are the rule, while in private startups they are the exception. And it is the investors problem when a startup fails, and they are aware of it. But with governments, it is OUR money squandered away by politicians and their friends.
- Apocryphon 6y ago> Well maybe because in government grants waste and fraud are the rule, while in private startups they are the exception. Are they really? What are the failure rates for both? > But with governments, it is OUR money squandered away by politicians and their friends. https://qz.com/1719019/wework-and-ubers-losses-may-be-subsidized-by-taxpayers/ https://qz.com/1719019/wework-and-ubers-losses-may-be-subsid... https://www.businessinsider.com/weworks-investors-include-pension-plans-like-union-unite-here-2019-8 https://www.businessinsider.com/weworks-investors-include-pe...
- andybak 6y ago> The world has changed and corruption is more severe Are you sure? This rather smacks of the "good old days" fallacy.