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> But frankly, investors often don't want an all-weather business. So many of these startup aren't build around a solid sustainable business model but around a
by jeffwask 4y ago
> But frankly, investors often don't want an all-weather business.
So many of these startup aren't build around a solid sustainable business model but around an exit. Fuck the employees, fuck the customers, all leadership cares about is making it to an exit so they can all cash out. They all saw an opportunity to accelerate that cash out during the free money, everyone is a unicorn years, unfortunately most of them were never going to cash out and now that no one is throwing free money at them to keep their pipe dreams afloat, the employees and customers take the brunt of their greed while they waltz off to their next boondoggle.
- brewdad 4y agoSame as it ever was.
- jeffwask 4y agoI don't know that I agree. I think it's gotten significantly worse under the VC/PE monstrosity that has grown over the last decade. The dishonesty has been ratcheted up and there are more Shkreli's, Bankman-Fried's and Holmes's dominating the conversation.
- Apocryphon 4y agoIt's not even outright scammers. Fast just completely collapsed within months because apparently no one was watching the burnrate.
- jeffwask 4y agoIt's mind boggling. The amount of money being thrown at these "companies" and how quickly the burn it with nothing to show at then end. The principles then move on unscathed and someone writes them another check.