> $150 billion, mostly from the sovereign wealth funds of Saudi Arabia and the UAE, which it’s poured into Uber and DoorDash and WeWork and Klarna and Slack. I

> $150 billion, mostly from the sovereign wealth funds of Saudi Arabia and the UAE, which it’s poured into Uber and DoorDash and WeWork and Klarna and Slack. It provides the money that effectively subsidises your autistic digital life. While I wasn't interested in following the writer down his garden path, this stood out and made me wonder whether over a large enough portfolio, later stage investments that increase the velocity of money can be recouped by investing in the emergent earlier stages of the growth they create. It's a bit of an inflationary and trickle-bubble argument, but from a tech venture perspective, even if Uber and WeWork were subsidized, they changed how a generation moved and worked and created knock on growth. Softbank's moneybomb investments created a lot of wealth for people who worked for them, but also launched hundreds if not thousands of more companies. The loss of tens of millions here or there also goes on to produce new seed and A round opportunities within a 5-7 year horizon. It suggests that large later stage rounds from giant funds should index on whether the company is increasing the velocity of money enough that it is likely to yield a certain number of new companies, and its talent is risk taking enough to join more startups, and then find a way to get exposure and participation in those through the earlier stage VCs that focus on them as a hedge. Like a $150m investment in a D round for some tech company whose massive growth is behind it should be hedged with $10m+ of participation in VC funds doing seed and A rounds in that company's market where all their talent is going to leave for now that the $150m company has gone corporate.