this post was submitted on 19 Feb 2025
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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With the whole capital ventures losing 50% value, they likely expected that.
VC don't go in thinking everything will net them a profit. They expect to lose on most, but that one that does kick off covers for everything that failed.
Plus it's not like they lose much in the end. Those capital losses get used to offset any capital gains from the one that worked.
There's something kind of obscene about that, isn't there? Like, instead of needing to exercise judgement about what's going to be a good investment in either the profit-generating or the world-improving senses you just have enough money to keep throwing at whatever weird grifter has the right energy this week, but if you repeat it enough and throw enough money down enough holes then you might accidentally end up becoming the richest of all the rich assholes.
It's like turning being a shitty poker player into a business plan by assuming (correctly) that you'll always be able to rebuy after you lose your stake.
@YourNetworkIsHaunted @slazer2au yes. Out of all the mechanisms we could have had for deciding how the future is built, we have chosen the absolute worst