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Because our society operates on money. The brilliant startup founder working on the next revolution in computing still needs to pay for breakfast, still needs t
by zamnos 4y ago
Because our society operates on money. The brilliant startup founder working on the next revolution in computing still needs to pay for breakfast, still needs to pay for drinks, still needs to make rent. Even if they don't pay out of their own pocket, there's money moving around somewhere. So when the money side has problems, thanks to the modern miracle of the Internet, you're gonna hear about the money side's problems. That doesn't mean the startup world's devolved, it just means that theres a big of problem on the money side of things. There was never a world where money wasn't involved in some way, even way back in the day when Apple started. They needed money to buy the parts to build the original Apple I and the money for that came from investors like Mike Markkula who was at Intel before he was at Apple. There is some cognitive dissonance that occurs when you realize your VC has investments in other companies that are very similar to yours, and that the money people are in it for the money, but that's nothing new.
The worst thing about this is how many comments I read saying that startups shouldn't have kept their payroll money in a bank in excess of $250k. When your startup is a handful of people, who's really got time to focus on that, unless what you're really focusing on is financial movements and shenanigans, to the detriment of technological innovation.