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by cmorelli
3343 days ago
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For better or worse, SV is home to a lot of incredibly high-risk investments, and a large of early startups. Startups with a lot of money on the line and no path to revenue will do crazy things that frequently lead to toxic work environments. Raise $10 million for a product that doesn't have a market fit, hire 10 people, provide them no clear vision for your business or product, tell them to make money, and watch as your business gets pulled in 20 different directions, employees fight, and people stress out. It's not likely to end well for anyone. It's definitely going to be more common in places where riskier investments are more likely to happen. Uber, as an example, was last valued at nearly $70b and loses nearly $800m every quarter. I would imagine that kind of cash burn with no clear path to profitability is incredibly stressful on everyone. It's almost certainly the cause for many of the horrible decisions that seem to have been made there, and the same thing can apply at smaller scales to earlier businesses. |
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