Tech's Reckoning
“To face down your demons, you’ve got to free them.” The last six months have felt like a perpetual threat — a looming doom that never quite transformed into something tangible. We have all been waiting for something to break — for us to enter a recession, for us to be fired, for our frien...
Hasnain says:
Great read, starts off with the Reddit story but goes into VC in general.
“Venture has been incentivized for years to create shambling “growth” companies that can be acquired by big firms that don’t think too much about what they’re buying, or dumped onto the public markets. The problem is that the markets themselves — as rotten as their incentives may be — have shown an intolerance for the lack of basic business acumen that most startups seem to have. An alarming amount of venture capital isn’t being invested to create good or sustainable or reliable or even public-ready companies, but obtuse stores of value that burn cash and lock up talented tech workers looking to vest their stocks.”
Posted on 2023-06-17T20:19:27+0000