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As long as these newly minted millionaires & billionaires continue the Silicon Valley tradition of reinvesting their money back into new startups then I think w
by Aloisius 13y ago
As long as these newly minted millionaires & billionaires continue the Silicon Valley tradition of reinvesting their money back into new startups then I think we'll more than offset the potential innovation we lose by them being locked away and their own companies merged/shuttered.
Now if the culture ever changes and people start hording their money, then I'll agree we have problems.
- michaelochurch 13y agoNow if the culture ever changes and people start hording their money, then I'll agree we have problems. They're hoarding it within their own closed social network. The new purpose of VC is to make trust-fund kids look legitimate (see: Snapchat, Summly, Clinkle). It's the same effect: the ecosystem doesn't die, but gradually becomes uninspiring.
- AznHisoka 13y agoWhere does it end though? At some point (god damn it) someone has to innovate and give us flying cars!