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What’s the substantive difference between the people in this industry who got fucked and the startups and their employees who might get fucked next week that ma
by CPLX 4y ago
What’s the substantive difference between the people in this industry who got fucked and the startups and their employees who might get fucked next week that makes you (or the SV online community at least) care about one and not the other.
- manuelabeledo 4y agoTech companies aren't buying scarce titles that weren't mean to be speculated with. They are bank customers. That is the main difference. That doesn't mean we shouldn't be concerned about those who lost their jobs because highly speculative investment companies went under, but it is clearly not the same.
- CPLX 4y agoWhat’s not the same about it? Explain it to me. Why should I care more about a startup worker who doesn’t get a paycheck next week than a taxi driver who can no longer feed his family because of new market entrants or a laid off machinist in an industry struggling to compete with subsidized overseas labor. Make it simple I’m dumb and think each of them has the same claim on human dignity and a financial safety net.
- manuelabeledo 4y agoI just did. Not sure what else you want me to say. If you think that putting money in a reputable bank is the same as gambling a few millions buying government licenses from private hands, then I don’t know what to tell you. SVB investors aren’t getting their money back either. Also, this has nothing to do with globalisation. You are mixing things up. And again, kind of ironic that you would blame cheap overseas labour, while sympathising with immigrants driving taxis around NYC. Pick a lane, mate.