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The entire tech industry has morphed into ponzinomics, and it’s been like that for at least my entire career. It seems like none of these SV companies make mon
by tombert 5mo ago
The entire tech industry has morphed into ponzinomics, and it’s been like that for at least my entire career.
It seems like none of these SV companies make money, or even have a realistic plan to ever make money. Instead the strategy appears to either a) hope that the investors have infinite funds and keep pretending to grow, b) get bought out by a larger, also unprofitable company, or c) go public and make it so that all of our retirement funds depend on it.
But it’s fine, as long as you brand it as “tech” and give some vague promises of it being “the future”.
- treis 5mo agoGoogle, Apple, Facebook, Amazon, Nvidia, Cisco, Oracle, et al make a bajillion dollars a year. The faangs are the most profitable companies in the world (swap Nvidia for Netflix)
- tombert 5mo agoEven with those companies, the stock prices are stupidly inflated, but even granting them being profitable that’s still only like six companies. Thats like 1% of the s&p 500. A ton of SV companies, and I think maybe the majority, especially startups are not profitable.