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Venture capital used to be about placing small, diverse bets on a lot promising startups - everybody in the process was trying to make the world a better place
by thow-58d4e8b 5y ago
Venture capital used to be about placing small, diverse bets on a lot promising startups - everybody in the process was trying to make the world a better place
Since about 2018, VC game changed - now it's about brazenly placing massive bets on a small set of startups of increasingly questionable utility, using the funds and clout to ram their way through into monopoly positions. Not a speck of morality involved anymore - and nobody is even trying to pretend otherwise
Public image hasn't yet caught up with this reality
- Spoom 5y agoIt feels like a bubble to me. When I see Matt Damon shilling crypto, it reminds me of pets.com Superbowl ads. I think reality will catch up sooner or later.
- KeAShizukuTio 5y agoI owned shares in a teak plantation in the late 1990s. We make mistakes when blinded by greed.
- smeyer 5y ago>everybody in the process was trying to make the world a better place I think "everybody" here is a pretty substantial overstatement. Plenty of folks were just trying to make money, without much regard for whether it made the world better or worse.
- gowld 5y agoCryptoPets.com incoming!
- CPLX 5y ago> everybody in the process was trying to make the world a better place have you actually met any VCs?
- Wiseacre 5y agoI laughed out loud when I read that statement. Holy moly the delusion is strong.
- wahnfrieden 5y agowe don’t know if CDC funding is VC
- mbesto 5y agoIt's irrelevant what the funding comes from or how you define it. VC, PE and Hedge funds all have fairly loose definitions. But, someone is funding it because it sure ain't coming from profits.
- wahnfrieden 5y agowhat’s your analysis on their profits