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In a healthy economy there is a need for bad investments. Otherwise capital would simply accumulate. Many VCs perform a service by making bad investments seem
by georgeecollins 12y ago
In a healthy economy there is a need for bad investments. Otherwise capital would simply accumulate. Many VCs perform a service by making bad investments seem reasonable and attractive to foolish institutional investors. It isn't that easy to do. You need a plausible story about how you could generate a huge return. You need to convince people that the investment is sensible. This article makes it sound like anyone could do it, but actually I am sure it is very hard.
- YetAnotherBozo 12y agoI like the way you think, if you're being facetious that is. But yes, without bad investments moving money from the 1% to the bourgeoisie and the petite-bourgeoisie, then it just stays trapped up there, which makes politicians turn into street-walking whores - over-eager to sell out the populace. Venture capital is the new communism. They're the new "takers" in our economic society, or perhaps the new "Robin Hoods." And I applaud their efforts. It's not easy turning bull into gold. And there's a big difference between regular bull (the news, everything you see on all media, advertising, your co-workers' worthless opinions) and turn it into convincing bull.