Mastodon Feed
Boosted by jsonstein@masto.deoan.org ("Jeff Sonstein"):
mekkaokereke@hachyderm.io ("mekka okereke :verified:") wrote:
Some people think that venture capital is a fundamentally evil business structure. I disagree.
Thought experiment:
If you could press a button tomorrow, that would cause 50% of the entire population of the continent of Africa to die within 5 years😮, but would 50X your profits and create dozens of trillion dollar companies, and help humanity become interplanetary 10 years earlier, would you press it?If you're on this weird little Mastodon thing reading this, then you are most likely:
- A technologist of some sort
- Not a genocidal maniac
So you would of course say no.
Some of you suspect that I'm going to *imply* that many VCs would say yes. But I'm not going to imply anything. I don't have to. Because many of these VCs have written papers and blog posts under their real names, celebrating the fact that they believe that it's wrong *not* to press that button.🤦🏿♂️
The problem with VC is neither the profit motive, nor the business structure.
The problem is that the vast majority of the funds that our entire society uses to solve hard problems, are controlled and allocated by people that believe that it is their duty to create new buttons like the one above, and then mash it repeatedly.