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by rexreed
1296 days ago
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Case in point: https://news.crunchbase.com/transportation/autonomous-drivin... Shows all the factors at play here: * Company founded by kids who know / knew nothing about the space * Investors who smell money opportunity and see an opportunity for asset value inflation * Invest in the company, rush to multiple rounds, based on hype * Company goes "public" using scam/sham SPAC approach (yet more proof of "startup" as financial product) * Then the company goes bust after it goes to market because the whole thing was just asset inflation, and when the bubble pops, it goes poof - I also find it curious that Techcrunch calls these obvious startup-as-financial product companies Upstarts and not Startups. A distinction without a difference in many cases. |
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