>I could tell pretty quickly that both these companies were going to fail. They are going to spend a lot of their money and a lot of their connections money and waste a lot of people’s time...
This is what really gets to me. Those companies will go bankrupt, the investors will lose out, the employees will get laid off, and the founder will have paid himself $300k/yr for those 5 years of fiddling around with nonsense and playing with other people's money, as he goes off to the next venture and spouts platitudes of success. There's absolutely no connection anymore between actual business success. Gaining "funding" is seen as the end all be all goal, and anything after that is just whatever.
And I think the reason you see less diversity here comes down to a class divide in moral values. No working class person can possibly even comprehend thinking like that. It comes off as completely sociopathic. Yet there is a class of people who are perfectly comfortable doing it, and we just let them for whatever reason. It starts to make you understand where class based revolutions have come from in the past.
Don't get hung up on the investors, aside from the f&f's class (who should know better to never lend money you can't afford to lose). Most investors know the risks, spread it appropriately and get tax advantages so that a loss results in a financial hit equal to small proportion of that loss. If anyone feel sorry for the tax payer, but then again you're paying for job creation, so swings and roundabouts.
This is what really gets to me. Those companies will go bankrupt, the investors will lose out, the employees will get laid off, and the founder will have paid himself $300k/yr for those 5 years of fiddling around with nonsense and playing with other people's money, as he goes off to the next venture and spouts platitudes of success. There's absolutely no connection anymore between actual business success. Gaining "funding" is seen as the end all be all goal, and anything after that is just whatever.
And I think the reason you see less diversity here comes down to a class divide in moral values. No working class person can possibly even comprehend thinking like that. It comes off as completely sociopathic. Yet there is a class of people who are perfectly comfortable doing it, and we just let them for whatever reason. It starts to make you understand where class based revolutions have come from in the past.