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Don't ycombinator and the various VCs always complain about government regulation? Don't they always complain about taxes? The other day I saw the old quote "t
by olliej 4y ago
Don't ycombinator and the various VCs always complain about government regulation? Don't they always complain about taxes?
The other day I saw the old quote "there's no atheists in a foxhole" extended with "and no libertarians in a bank run".
If there's a tax payer bail out (and I don't believe there needs to be - this seems more a liquidity problem than total funding) then all of that money is just tax payers giving money to VCs.
More over, this bank run is almost entirely a product of VCs telling all of the startups they funded to pull all of their money out of the same bank they told all of them to use - so they supported removing the regulations that make runs harder, and then they caused the run, and now they're asking for tax payers to take on all the losses.
- muzz 4y agoYes and this describes precisely their hypocrisy