> Maybe I didn't know that a global pandemic was going to shut down the economy.
Then you are a fool.
The tech economy crashes on 5-7 year cycles. See: Dot bomb. 2008 Financial Crash. Covid-19 in 2020. I can go backwards in time, too. 3D graphics card startup crash. Microprocessor startup crash. AI winter. etc.
Too much money flows into the sector and then eventually the VC funds want it back. Roughly on 5-7 year timescales. Funny how that aligns with crashes, no?
This time VC's changed tack--they won't put money into anything which produces a product so they can simply keep the shell game going. Presumably that's why this crash is a little late.
If you aren't ready for this kind of cycling, you shouldn't be in a startup.
My point isn’t that you or the parent that I’m replying to are incorrect at all. You seem to be missing my point entirely.
Feeling schadenfreude when a business fails is tantamount to being happy that someone loses their job. That’s fucked up- and I can’t believe anyone would be stoked about this. Seek help.
I don't see a problem in feeling good that a bad company failed and feeling bad that employees at that company are losing their jobs and going to suffer. Conflicting emotions are a natural result of complicated situations.
This is part of why I think we need a much stronger economic safety net with UBI and universal healthcare. Too often, we protect objectively bad institutions and companies because of the very real need to preserve the jobs they provide. If involuntary job loss became a less disastrous event, we might be more keen to cut out waste and inefficiency in the system because we're no longer potentially destroying people's lives in the process.
This is great insight. We protect bad companies because we want to protect good employees. In the process we reward bad management and bad investors and the good employees get shafted anyways.
I already said that. VC's decided that they weren't going to fund anything hardware related this time.
You can keep the shell game going infinitely with social crap built by 20-somethings to flog to the FAANG's because you can keep skimming until you hit your 100x.
Now that the unicorns are finally busted, we'll see what the landscape actually looks like.
Then you are a fool.
The tech economy crashes on 5-7 year cycles. See: Dot bomb. 2008 Financial Crash. Covid-19 in 2020. I can go backwards in time, too. 3D graphics card startup crash. Microprocessor startup crash. AI winter. etc.
Too much money flows into the sector and then eventually the VC funds want it back. Roughly on 5-7 year timescales. Funny how that aligns with crashes, no?
This time VC's changed tack--they won't put money into anything which produces a product so they can simply keep the shell game going. Presumably that's why this crash is a little late.
If you aren't ready for this kind of cycling, you shouldn't be in a startup.