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We make fun of the state run businesses of old communist regimes, how wasteful they were, how mismanaged they were, how they produced stuff nobody wanted and so
by bgnn 1y ago
We make fun of the state run businesses of old communist regimes, how wasteful they were, how mismanaged they were, how they produced stuff nobody wanted and so on. I'm increasingly getting a similar feeling for VC fueled tech. It's all smoke and mirrors of hype (was blockchain or web3.0 yesterday, AI and quantum today). There is so much wasted money, especially after quantitative easing and negative interest rates of the past decade.
- GreenWatermelon 1y ago> state run businesses of old communist regimes, how wasteful they were, how mismanaged they were, how they produced stuff nobody wanted I'm increasingly convinced that this is pure western capitalist propaganda. From what I observed in the 8 or so years I've been an adult, Western Capitalist economies (especially US) are much more bloated and wasteful. Nothing demonstrated this more clearly than Crypto/Web3 Hype-Bubble.
- Ekaros 1y agoPublicly traded is no better. Lets not forget whole Meta and Metaverse and VR "investment". Google basically launching entire physical products and then killing them and refunding everyone (Stadia)... One might question would we as society be better off if that money was spend on more efficient factories or say nuclear powerplants?
- speed_spread 1y agoHow about public education and healthcare?
- Jensson 1y agoThe difference is that VC fueled startups is a very small part of the economy while communist regimes are the entire economy. Imagine if every company was as wasteful as VC fueled startups and life would be hell, imagine going to the new smart grocery store where prices changes by the minute and now you have surge pricing since many wanted to buy toilet paper this minute...
- account42 1y agoThey may be a small part of the economy as measured in imaginary numbers being shifted around but still have a significant negative effect on our lives that cannot be easily escaped. This is even more true when you also count publicly traded companies which have similar incentives to sell out their "customers" in order to benefit the real customers and are often just the final form of VC funded startups.
- jmcqk6 1y agoMost companies are wasteful. Perhaps not as wasteful as a startup, but still incredibly wasteful, and it scales non-linearly with size.