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Definitely, but it is not our only problem. We don't get those lucrative internships and neither do we get the boatloads of startup capital. It's all caused by

Definitely, but it is not our only problem. We don't get those lucrative internships and neither do we get the boatloads of startup capital. It's all caused by the same risk averse mentality, though.

cushpush 3y ago
The "risk averse" mentality is insightful to me, attempting to comprehend what cultural differences my (European issue) parents engage the world with
- mustafa_pasi 3y ago
  Oh, it's definitely one of the most distinctive difference between US and Europe. Of course it is not all the same. Germans are on the more conservative side, while the Dutch are known to be more entrepreneurial. But overall none is on the same level as you Americans.
troupo 3y ago
It's caused by "a business that loses billions of dollars a year for over a decade isn't a sustainable business" mentality. The US is the exact opposite. Even OpenAI, however amazing it is, is not a business (yet?). It's a money sink.
- cushpush 3y ago
  "Loss-leader" is the term, I believe
  - swores 3y ago
    No, that's something different. https://en.wikipedia.org/wiki/Loss_leader https://en.wikipedia.org/wiki/Loss_leader The thing being talked about doesn't have a widely-used nickname, though "Blitzscaling" is probably the closest.
    - cushpush 3y ago
      Oh, I see, yeah maybe not the exact right fit is "loss leader" but it sounds good. Hmm. It's more like domination via attrition?
      - troupo 3y ago
        There's also price dumping involved in many of these schemes.
      - tough 3y ago
        It's the good ol drug dealer adage just at blitzscale as gp put it. The first hit is always free
- calderwoodra 3y ago
  Can you point to an example of a country that had/has a similar mentality to the US and it backfired?
  - troupo 3y ago
    I don't think there's a single country where people keep pouring infinite money into unprofitable businesses, and calling them successful and innovative. Note: I'm not talking only about OpenAI. You can look at YConbinator's own top companies and try and find businesses that are profitable for longer than a year, and not with a history of "for a decade they were losing a billion dollars a year but are now finally profitable with 10 dollars of profit"
nxm 3y ago
Most importantly, it’s bankruptcy laws in the US that encourage and reward risk taking which push technology forward. Last I’ve heard Europe is trying to update its laws for this exact reason

Definitely, but it is not our only problem. We don't get those lucrative internships and neither do we get the boatloads of startup capital. It's all caused by the same risk averse mentality, though.

cushpush 3y ago

The "risk averse" mentality is insightful to me, attempting to comprehend what cultural differences my (European issue) parents engage the world with

mustafa_pasi 3y ago
Oh, it's definitely one of the most distinctive difference between US and Europe. Of course it is not all the same. Germans are on the more conservative side, while the Dutch are known to be more entrepreneurial. But overall none is on the same level as you Americans.

troupo 3y ago

It's caused by "a business that loses billions of dollars a year for over a decade isn't a sustainable business" mentality. The US is the exact opposite. Even OpenAI, however amazing it is, is not a business (yet?). It's a money sink.

cushpush 3y ago
"Loss-leader" is the term, I believe
- swores 3y ago
  No, that's something different. https://en.wikipedia.org/wiki/Loss_leader https://en.wikipedia.org/wiki/Loss_leader The thing being talked about doesn't have a widely-used nickname, though "Blitzscaling" is probably the closest.
  - cushpush 3y ago
    Oh, I see, yeah maybe not the exact right fit is "loss leader" but it sounds good. Hmm. It's more like domination via attrition?
    - troupo 3y ago
      There's also price dumping involved in many of these schemes.
    - tough 3y ago
      It's the good ol drug dealer adage just at blitzscale as gp put it. The first hit is always free
calderwoodra 3y ago
Can you point to an example of a country that had/has a similar mentality to the US and it backfired?
- troupo 3y ago
  I don't think there's a single country where people keep pouring infinite money into unprofitable businesses, and calling them successful and innovative. Note: I'm not talking only about OpenAI. You can look at YConbinator's own top companies and try and find businesses that are profitable for longer than a year, and not with a history of "for a decade they were losing a billion dollars a year but are now finally profitable with 10 dollars of profit"

nxm 3y ago

Most importantly, it’s bankruptcy laws in the US that encourage and reward risk taking which push technology forward. Last I’ve heard Europe is trying to update its laws for this exact reason