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I don't know about his past with Zuckerberg, but this guy's basically a hero for calling VC-istan out for what it is: a rigged, corrupt mess where one's persona

I don't know about his past with Zuckerberg, but this guy's basically a hero for calling VC-istan out for what it is: a rigged, corrupt mess where one's personal level of power determines which laws one must actually follow and which ones can be ignored. Consider all the co-funding and note-sharing that goes on among supposedly competing investors. That's clearly anti-competitive activity, but it's never enforced because of the power of the people who do it. It sounds like his particular lawsuit is without legal ground and will fail, but he deserves major props for bringing public attention to VC-istan's collusion problem. As I wrote, he's already morally entitled to an EIR position (at the very least, if not a real VC job) from VC-istan for his courage, intellect, and ethical above-board-ness, which are well into the top 5% by VC-istan standards (although that's not saying much).

ryguytilidie 14y ago
Like most things, we simply hold the rich and the powerful to a different standard. Steve Cohen can rob the American economy blind and even if the multiple teams of FBI agents surveiling him actually catch him and prosecute him, he will be in jail for a few years at most, only to slink back to his billions of dollars in wealth right after that will enrich his family for generations. Meanwhile the homeless guy who did some crack on the corner? 15 years. I really wonder sometimes if it is actually possible to fail in some of these situations. If you don't have to follow the same laws as everyone else and know there won't be consequences, you're going to crush your competition of not rich people who actually applied for permits and stuff. Because your competition knew if they didn't get them, they would pretty much be shut down, while these other companies basically said "lol laws" and like most companies who do, reaped massive rewards.
- michaelochurch 14y ago
  I think Aaron Greenspan is (as I am, to a lesser extent) a moral mysophobe. Most people know the world is run by scumbags and human garbage, but they adapt. It just becomes another landscape feature to them, like bad weather or dogshit on the sidewalk. Then there are other people who see unethical behavior and, for whatever reason, can't "just get over it" like normal people. They end up taking some immensely energy-consuming moral stands that often aren't in their individual interests. Such people are immensely beneficial to society, but it's not fun to be one.
  - katbyte 14y ago
    I kinda think its sad that "just getting over it" is considered normal.
    - protomyth 14y ago
      Well, you could go out and protest in a nice ways, but the media will just make jokes and tell people you believe something you don't. "Just getting over it" might be the sane thing to do.
      - jrochkind1 14y ago
        if you can forget about it and get on with your life -- you (like me) have already got more power/comfort/privilege than most people, who are reminded all the time how much power jerks have to make the lives of those without power miserable.
        protomyth 14y ago
        Oh, I never said I would forget about it. The government is quite able to make everyones live miserable (check the stupid sale tax law).
      - droidist2 14y ago
        That's true, the media has become extremely effective at making a big joke out of any sort of movement or counter culture that emerges.
        cinquemb 14y ago
        Unless ones views lead them down the path to end up taking the lives of innocent people who have for the most part "just get over it" when it comes to nearly everything in their life, then the media will try to seek every nook and cranny out to try to rationalize the incident in such a manor that there will be those in power who will use it for their own purposes (whatever they may be) ultimately drowning out any deeper discussion on how such a an incident came to be.
- josdewolk 14y ago
  This situation is multiplied further, many times over, in developing countries.
coffeemug 14y ago
A rigged, corrupt mess where one's personal level of power determines which laws one must actually follow and which ones can be ignored. Do you have a shred of evidence to support any of these accusations? Not that I think the VC industry is devoid of problems, but in my experience it is neither rigged nor corrupt, and the people with the most power actually tend to be the most morally conscious people I've ever met.
- geekam 14y ago
  >> the people with the most power actually tend to be the most morally conscious people I've ever met. This is also anecdotal too. The people you've met.
- sjtgraham 14y ago
  I think your language indicates some bias here. To play Devil's advocate for a moment, the bankers that manipulated LIBOR did so for quite some time without being caught. Those whom submitted the rates they thought their bank could borrow from other banks at wielded incredible power, magnitudes more than any VC, i.e. contracts worth $300 TRILLION were influenced by LIBOR. It was shown that these bankers acted, most would agree completely immorally, without conscience, artificially influencing the rates to suit their own trader's positions.
  - jamesaguilar 14y ago
    He's biased because he doesn't buy into the conspiracy theory without some evidence? Hmm.
    - enraged_camel 14y ago
      No, he's biased because, by his own admission, he's basing his opinions on anecdotal evidence, i.e. those VCs he has met are very ethical people. Whereas we have a ton more data points to prove that power = corruption. Considering the amount of power VCs yield in Silicon Valley, it's pretty much a given that they break the law and get away with it.
- 14y ago
throwaway1980 14y ago
Mostly when you post it ends up being the top comment in a thread. I wouldn't have a problem with this except that all (or maybe 99%) of your comments are about the same thing: people in positions of corporate or financial power abusing that authority. I don't even think it's necessarily a problem to say these kinds of things, but I was just wondering if you could also post some random comments about other stuff.
- oinksoft 14y ago
  For fun, plug "vc-istan" into HN search.
jholman 14y ago
It's interesting that you have the top comment, MC, and call him a hero, because I was just thinking how much his writing style reminds me of yours.
philwelch 14y ago
Aaron Greenspan has made a name for himself as someone who's accomplished nothing but still holds irrational grudges and is totally incapable of letting go to the point of repeatedly constructing epic narratives in which he's the victim, in the mistaken belief that this somehow reflects on others more than it does him. I can see why you identify with him.
- Hitchhiker 14y ago
  Just a side-note, making a name via accomplishing nothing is common, various sub-types such as that you hint at above are perhaps further taxonomy ? Rebels eventually wish to be kings. Some actually get there. Then the cycle repeats. My worry here is that individuals are paying more attention to specific actors who as powerful as they appear to be are not as formidable as systems they represent. Its almost rare to see such wounded attitudes from an equally matched adversary. The other direction is full scale martyr which was also displayed recently .. I'd rather not take the name to avoid pain for those close to the kid.
- enraged_camel 14y ago
  >>I can see why you identify with him. Not sure if this potshot was called for.
- lisper 14y ago
  And what have you done?
  - philwelch 14y ago
    True, I'm no one special. That's even what it says if you click through to my profile on here. But at least I don't live my entire life as a self-perpetuating persecution complex, pausing only to write self-righteous screeds about those whom I perceive to have wronged me (or worse yet, file lawsuits).
    - sillysaurus 14y ago
      Why do you live life bullying those who are actually trying to accomplish something?
prostoalex 14y ago
I was with you until "if not a real VC job". Why would anyone offer him a VC job? Is his investment track record such that it beats the index funds? Or is it the name recognition and ability to get into the top deals (following A16Z's model where only 5-10 companies really matter long-term)?

ryguytilidie 14y ago

Like most things, we simply hold the rich and the powerful to a different standard. Steve Cohen can rob the American economy blind and even if the multiple teams of FBI agents surveiling him actually catch him and prosecute him, he will be in jail for a few years at most, only to slink back to his billions of dollars in wealth right after that will enrich his family for generations. Meanwhile the homeless guy who did some crack on the corner? 15 years. I really wonder sometimes if it is actually possible to fail in some of these situations. If you don't have to follow the same laws as everyone else and know there won't be consequences, you're going to crush your competition of not rich people who actually applied for permits and stuff. Because your competition knew if they didn't get them, they would pretty much be shut down, while these other companies basically said "lol laws" and like most companies who do, reaped massive rewards.

michaelochurch 14y ago
I think Aaron Greenspan is (as I am, to a lesser extent) a moral mysophobe. Most people know the world is run by scumbags and human garbage, but they adapt. It just becomes another landscape feature to them, like bad weather or dogshit on the sidewalk. Then there are other people who see unethical behavior and, for whatever reason, can't "just get over it" like normal people. They end up taking some immensely energy-consuming moral stands that often aren't in their individual interests. Such people are immensely beneficial to society, but it's not fun to be one.
- katbyte 14y ago
  I kinda think its sad that "just getting over it" is considered normal.
  - protomyth 14y ago
    Well, you could go out and protest in a nice ways, but the media will just make jokes and tell people you believe something you don't. "Just getting over it" might be the sane thing to do.
    - jrochkind1 14y ago
      if you can forget about it and get on with your life -- you (like me) have already got more power/comfort/privilege than most people, who are reminded all the time how much power jerks have to make the lives of those without power miserable.
      - protomyth 14y ago
        Oh, I never said I would forget about it. The government is quite able to make everyones live miserable (check the stupid sale tax law).
    - droidist2 14y ago
      That's true, the media has become extremely effective at making a big joke out of any sort of movement or counter culture that emerges.
      - cinquemb 14y ago
        Unless ones views lead them down the path to end up taking the lives of innocent people who have for the most part "just get over it" when it comes to nearly everything in their life, then the media will try to seek every nook and cranny out to try to rationalize the incident in such a manor that there will be those in power who will use it for their own purposes (whatever they may be) ultimately drowning out any deeper discussion on how such a an incident came to be.
josdewolk 14y ago
This situation is multiplied further, many times over, in developing countries.

coffeemug 14y ago

A rigged, corrupt mess where one's personal level of power determines which laws one must actually follow and which ones can be ignored. Do you have a shred of evidence to support any of these accusations? Not that I think the VC industry is devoid of problems, but in my experience it is neither rigged nor corrupt, and the people with the most power actually tend to be the most morally conscious people I've ever met.

geekam 14y ago
>> the people with the most power actually tend to be the most morally conscious people I've ever met. This is also anecdotal too. The people you've met.
sjtgraham 14y ago
I think your language indicates some bias here. To play Devil's advocate for a moment, the bankers that manipulated LIBOR did so for quite some time without being caught. Those whom submitted the rates they thought their bank could borrow from other banks at wielded incredible power, magnitudes more than any VC, i.e. contracts worth $300 TRILLION were influenced by LIBOR. It was shown that these bankers acted, most would agree completely immorally, without conscience, artificially influencing the rates to suit their own trader's positions.
- jamesaguilar 14y ago
  He's biased because he doesn't buy into the conspiracy theory without some evidence? Hmm.
  - enraged_camel 14y ago
    No, he's biased because, by his own admission, he's basing his opinions on anecdotal evidence, i.e. those VCs he has met are very ethical people. Whereas we have a ton more data points to prove that power = corruption. Considering the amount of power VCs yield in Silicon Valley, it's pretty much a given that they break the law and get away with it.
14y ago

throwaway1980 14y ago

Mostly when you post it ends up being the top comment in a thread. I wouldn't have a problem with this except that all (or maybe 99%) of your comments are about the same thing: people in positions of corporate or financial power abusing that authority. I don't even think it's necessarily a problem to say these kinds of things, but I was just wondering if you could also post some random comments about other stuff.

oinksoft 14y ago
For fun, plug "vc-istan" into HN search.

jholman 14y ago

It's interesting that you have the top comment, MC, and call him a hero, because I was just thinking how much his writing style reminds me of yours.

philwelch 14y ago

Aaron Greenspan has made a name for himself as someone who's accomplished nothing but still holds irrational grudges and is totally incapable of letting go to the point of repeatedly constructing epic narratives in which he's the victim, in the mistaken belief that this somehow reflects on others more than it does him. I can see why you identify with him.

Hitchhiker 14y ago
Just a side-note, making a name via accomplishing nothing is common, various sub-types such as that you hint at above are perhaps further taxonomy ? Rebels eventually wish to be kings. Some actually get there. Then the cycle repeats. My worry here is that individuals are paying more attention to specific actors who as powerful as they appear to be are not as formidable as systems they represent. Its almost rare to see such wounded attitudes from an equally matched adversary. The other direction is full scale martyr which was also displayed recently .. I'd rather not take the name to avoid pain for those close to the kid.
enraged_camel 14y ago
>>I can see why you identify with him. Not sure if this potshot was called for.
lisper 14y ago
And what have you done?
- philwelch 14y ago
  True, I'm no one special. That's even what it says if you click through to my profile on here. But at least I don't live my entire life as a self-perpetuating persecution complex, pausing only to write self-righteous screeds about those whom I perceive to have wronged me (or worse yet, file lawsuits).
  - sillysaurus 14y ago
    Why do you live life bullying those who are actually trying to accomplish something?

prostoalex 14y ago

I was with you until "if not a real VC job". Why would anyone offer him a VC job? Is his investment track record such that it beats the index funds? Or is it the name recognition and ability to get into the top deals (following A16Z's model where only 5-10 companies really matter long-term)?