2 ms·
The more I read about Startups / VC the more I think it is a scam similar to the blockchain scams. Just more elaborate. VCs should be the pinacle of deep thinki
by profstasiak 4y ago
The more I read about Startups / VC the more I think it is a scam similar to the blockchain scams. Just more elaborate. VCs should be the pinacle of deep thinking, meanwhile they pump money into the most ridiculous ideas, never doing due diligence and sometimes enabling outright fraud.
- rhaway84773 4y agoThere do appear to be similarities in the sense that the whole enterprise is based on the idea that the valuation of tech companies will always rise, so as long as you make sure you have hands in enough pies you will make money. What those pies are is basically immaterial. But that’s where the similarities end. Crypto “investors” were putting in money into a scheme where the money’s only use was marketing so the next round of “investors” would buy at a higher price. VC money was being used for building actual businesses that for the most part provided some value to their users, even if they were trying to make up for unit losses in volume. Like, Bird may be insolvent and fold. But it did provide millions of real trips. What did Solana do that was of any use?