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> 80% of economic activity is unproductive The parent comment is talking about 80% of companies struggling to raise series A, not 80% of the entire economy or
by bryanh 14y ago
> 80% of economic activity is unproductive
The parent comment is talking about 80% of companies struggling to raise series A, not 80% of the entire economy or even the entire startup ecosystem.
- 001sky 14y agoThis is a good point: global economy>us economy>tech economy>vc backed co's>series A needed co's>series A not avails to co's etc.
- philwelch 14y agoAnd given that proviso: 1. Most of the labor is already in funded startups, because funded startups can afford to hire more labor. 2. Of the 80% of startups that can't get Series A, the founders and early employees can remain in the startup ecosystem. Some of them will eventually hit upon something successful as well. 3. If not, large companies and successful startups never have as many engineers as they need anyway because there is a shortage of engineers. It is not clear whether the pool of engineers stuck in unpromising, unfunded startups is larger than this shortage.