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Hey tech billionaires, if you want to talk about radical change, let’s abolish venture capitalism (www.theguardian.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Do you support sustainability, social responsibility, tech ethics, or trust and safety? Congratulations, you’re an enemy of progress. That’s according to the venture capitalist Marc Andreessen.

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[–] [email protected] 0 points 1 year ago (1 children)

This comment doesn't even pass the smell test.

If every company that took VC money failed, VCs wouldn't make any money.

The reality is MOST VC investments fail, but the few who make it are home runs. This is how they make money. The risk/reward of your company was just not a favorable investment for them. Whether it's because you went to an Ivy League or not is irrelevant.

Without VCs, many of those homeruns would never be able to get off the ground and the US economy would be significantly less dynamic

[–] [email protected] -1 points 1 year ago (1 children)

You are free to take your great idea to VC and see if they get funded bro. I think they are a complete joke at this point.

[–] [email protected] 0 points 1 year ago (1 children)

I don't have a good business idea, not everyone has to. That's not even what we're talking about.

VC is clearly not "a joke". All you have to do is Google "major companies that took VC funding" to see the impact of it. Of course this leaves out the thousands of others that failed, but long term the winners are going to have a very positive impact on driving innovation.

You may say "those companies would have succeeded anyway" and maybe so, but I doubt it would have happened nearly as fast, if at all.

[–] [email protected] -1 points 1 year ago

VC today isn't VC 20 years ago isnt VC 40 years ago.

VC today has ridiculous expectations on ROI and it re-enforces poor decision making, which, imo, brings down companies that might otherwise have been successful. Its part of a culture that was propped up by access to ridiculously cheap money. Modern VC is a dice roll at best, maybe worse.