You're reacting more to his tone than his content. He's right about how VC-istan works. There's this new engine of extreme productivity that no one understands

You're reacting more to his tone than his content. He's right about how VC-istan works. There's this new engine of extreme productivity that no one understands well; those with early access loot it (getting into private financing rounds where prices are set on the golf course; using VC connections to be air-drop executives) and the public (including Bay Area engineers) eats the bill through failed companies and sudden job-loss, an innavigable career ladder, financial crashes due to overvalued stocks (pump-and-dump), and exorbitant housing prices just to have a chip and a chair. He might be damning his credibility by using "retarded" in such a way, but he's on to the meat of the problem.