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> This is why I lost complete respect for a16z and hate that crypto-shill Garry Tan will run Y Combinator. Even though I understand this from an ethical standp
by dvt 4y ago
> This is why I lost complete respect for a16z and hate that crypto-shill Garry Tan will run Y Combinator.
Even though I understand this from an ethical standpoint, this is the entire job of venture capital: make a ton of money as fast as possible while minimizing risk. Crypto is literally the perfect vehicle for this. They can't do this in traditional markets because actual hedge funds like Jane Street and Two Sigma will absolutely demolish them. So I think that a16z, Sequoia, etc. have been brilliantly making their clients a lot of money. If we had money in their fund, we'd both probably be very happy campers.
I blame governments for being slow regulating crypto and I blame individuals for being greedy. Imo, blaming VCs for making money is like blaming water it's wet.
- senttoschool 4y agoI blame governments for being slow regulating crypto and I blame individuals for being greedy. Imo, blaming VCs for making money is like blaming water it's wet. I'm not blaming them. I just lost respect for them.
- prepend 4y ago> make a ton of money as fast as possible while minimizing risk. I like to think that the right way to do this is by creating lots of lasting value. Many VC wins make them money and create value for the company, employees, users, world. It’s not exclusive that they must create fake bullshit to make money. Funding Apple makes money and results in hardware, software, and innovation. Pumping lottery and Ponzi schemes just exploits value from poor suckers.
- dvt 4y agoI mean plenty of VCs invested in JUUL which literally gives people cancer; that's probably worse than stealing money from people.
- pierrebai 4y agoYou're saying this as if VC were some natural phenomenon and not people. VC are people, VC i one of those things that are mostly only people. Those people choose to use financial vehicules and strategies that are not ethical.
- atdrummond 4y agoSPACs were used similarly recently until the market ran out of steam.