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It’s kinda cute that Vance is a big tech skeptic when his entire political career was funded by Peter Thiel and Vance got rich living in Silicon Valley. Amazin
by myvoiceismypass 2y ago
It’s kinda cute that Vance is a big tech skeptic when his entire political career was funded by Peter Thiel and Vance got rich living in Silicon Valley.
Amazing.
- Kerrick 2y agoHe's a (big tech) skeptic, not a big (tech skeptic). Thiel and other VCs stand to gain when competition from startups they would invest in have a chance to unseat the big tech conglomerates.
- scarface_74 2y agoThey have no desire to unseat BigTech, they want to be acquired by them. In no world is a startup going to unseat Apple, Amazon, or Microsoft. Google and Facebook maybe. VCs don’t want to touch hardware with a ten foot pole (Apple), competing with Amazon would be a money sink to duplicate all of the infrastructure as would Microsoft (who cares about desktop operating systems and the enterprise will never leave MS).
- webmaven 2y agoThat's the same thing, the credible "chance to unseat" becomes "motivation to acquire", leading to a much faster and more certain exit. Of course, that's exactly the pattern of behavior that is seen as problematic.
- sangnoir 2y ago> They have no desire to unseat BigTech, they want to be acquired by them. Acquisitions are one way to make money off big tech. Breaking them up and buying parts of them for cents on the dollar are another, especially if you can issue barely veiled threats of government-backed retaliation if they refuse to come to the table with your allies/fronts. With a "loosened regulations" regime, IPOs may be even more profitable than acquisitions.
- scarface_74 2y agoOut of literally thousands of YC companies for instance , less than a dozen have IPOd. There is very little chance that a startup will IPO especially now that the public markets have gotten wise to the VC funded Ponzi scheme where they treat the public market as the bigger fool
- deleted 2y ago[deleted]
- sangnoir 2y agoI'm talking about buying pieces of big tech and selling them to the public via IPO. I don't thr the public has gotten wise to anything when POTUS and FLOTUS have "meme" crypto coins.
- scarface_74 2y agoI mean half the people buying meme coins are doing it to bribe Trump and the other half think he was literally sent by God. The latter half aren’t going to be buying stocks at IPO
- nostromo 2y agoMost serious people living in Silicon Valley are deeply skeptical of big tech. Thiel included.
- scarface_74 2y agoThiel wants his own monopolies..
- nostromo 2y agoIf you read his book, he’s using an unconventional definition of “monopoly.” It’s more about being so competent as a company that you get large network effects as a moat. He specifically states that he doesn’t support anti-competitive practices by monopolies. The common example of this was early Google, that grew into a monopoly by being better than all the competition by a significant margin.
- scarface_74 2y agoYou realize that even using the word “moat” signals a monopoly to the DOJ? If you have ever worked in BigTech, part of the indoctrination is never to say the word “moat”. All of BigTech is big because of moats.
- Dylan16807 2y agoThat kind of significant network effect, while notably more legal than anti-competitive practices, is also very bad for the consumer. So this hardly acts as a defense of his desires.
- deleted 2y ago[deleted]
- tredre3 2y agoThe way you describe it makes it sound like Vance is perfectly positioned to know how bad big tech is, so what are you trying to say? That once someone has benefited from a system they mustn't criticize it?
- Apocryphon 2y agoOr it’s insinuating that he’s being politically hypocritical- controlled opposition.