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>If we were a strictly rational utilitarian society he'd be in prison for 220 years I don't think you understand how risk works. You cannot judge him only on t
by istinetz 4y ago
>If we were a strictly rational utilitarian society he'd be in prison for 220 years
I don't think you understand how risk works. You cannot judge him only on the downside, without considering the upside that could have been.
If you jail every startup founder who fails for 220 years, nobody would try to create risky startups, and your utopia would miss out on innovation.
- smcl 4y agoI think they do. My read was that they're trying to illustrate that there is more that goes into determining what a crime is and what the punishment for a crime should be than the impact it has on a company's market value. And I don't think there's a suggestion that every startup founder whose company fails should be jailed - only that if there's some kind of serious wrongdoing, like fraud, involved. Unfortunately with the popularity of "fake it 'til you make it" it's easy for people cross the line, knowingly or unknowingly.