this post was submitted on 02 Oct 2024
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I genuinely just don't understand what's going on in the tech sector anymore
You know it’s bad when the guy previously worked at Coinbase
VC funding is basically gambling, trying to find the next billion dollar company. So they throw money at anything that has any semblance of traction to get in early and cash out when the time comes.
Gambling with OTHER PEOPLE'S money.
You win, you take a cut. You lose. Someone else suffers.
These people destroy everything for greed.
how did they get access to other people's money?
Probably by being attractive
Which is the exact same behavior that caused the dot com bubble. VC funding was throwing money at any and every dot com business, in the hopes that it would explode and lead to profits.
All it did was massively overvalue the dot com companies, which caused a bubble when people finally realized they were overvalued and VC investors turned off the spigot of free money.
and then the government fucked up and tried to save some of the filthy corps.
we don't either.
Feels like the dotcom era all over again, but they're better at stringing the scam along this time. Enough of the people need to believe the lie that it's getting artificial longevity.