First they yelled fire in a crowded theater, then they want to tax payers to clean up the mess. Disgusting. But this take really misses the forest for the tree

First they yelled fire in a crowded theater, then they want to tax payers to clean up the mess. Disgusting. But this take really misses the forest for the trees. Bailout or not, this is the nail in the coffin for the SV tech startup ecosystem. The whole thing runs on a major helping of fairy dust. Saudi royal family, let us give your money to a collection of bright seeming kids. Trust us, one of them will turn into the next Airbnb. We are the smartest guys on the planet. We have a winning formula and know how to advise these startups. But now that the groupthink and systemic risks have been exposed, now that the smartest guys on the planet don’t look so smart anymore, don’t expect the next funding round to arrive soon, or ever. These startups will burn through whatever amount of cash they have left in an atmosphere of startup winter, then will shut down and the VC partners will move on to their next grift.