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I agree with everything you said... except useful stuff part. There is much more stuff being thrown out or made totally useless in a year at big companies than

• cnlwsu 17y ago
  and they did not require someone else's money to lose it.
  • jwhite 17y ago
    I don't think that's strictly true. A shareholder, somewhere, lost value. VC's are just shareholders that make riskier bets.