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by crush-n-spread
3149 days ago
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What's your point? Others can raise money more easily than you can, due to some ambiguous idea that investors prefer these other people from Stanford? No one that is going to build a successful company should care about that. Because you're 10x better than the competition. The lack of an inherited advantage isn't going to make the difference between success and failure for you. |
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In Silicon Valley, affiliation to established institutions - schools, conglomerates, social circles - correlates with access to early-stage capital much more strongly than it correlates with actual performance as an entrepreneur.
This is bad for two reasons:
1) Silicon Valley investors, as a group, are wasting capital by investing too much in low-performing insiders, and not enough in high-performing outsiders.
2) Silicon Valley entrepreneurship amplifies social inequalities instead of reducing them, because a disproportionate share of entrepreneurial opportunities are reserved for insiders.