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Don't be naive. Markets behaving like markets created a dot-com bubble, Enron, and a housing bubble. Just because the market is behaving like a market doesn't
by j_baker 15y ago
Don't be naive. Markets behaving like markets created a dot-com bubble, Enron, and a housing bubble. Just because the market is behaving like a market doesn't make that behavior good.
Besides that, I just don't have any sympathy for founders who don't want to wait a few more years to make their millions. The point of starting a company should be to do something useful for society. It shouldn't be a race to the exit.
- gruseom 15y agoNo market fundamentalist here. My point is that this is one case where the market seems functional. Investors who make these deals will lose, if they're so bad. So what do their competitors have to complain about? Edit: Your tone seems a bit bitter, no? There are many ways to be useful to society. Helping people travel cheaply to cool places, for example. I don't really want to be told why I should start a company, though. Demand that I benefit society and I will probably just play punk rock instead. But damn it there might be social benefit lurking in that too!
- j_baker 15y agoBitter? Not really. Skeptical? Absolutely, and admittedly for not terribly well-defined reasons. I just don't think the trend of having founders being able to extract more millions sooner from their companies is a good thing. It just invites more greed from Wall Street types into the Valley.