[flangola7]

Startup industry is bad, why should we protect it? There's very few things awful enough to attract bipartisan hate.

[ummonk]

Drives economic growth, creates jobs, and increases labor market competition amongst employers which leads to higher wages.

The latter function is particularly salient for tech people (which many of us who follow HN are).

[flangola7]

A heap of parroted buzzwords is not very convincing.

[SkyMarshal]

Neither is evidence-less overly-general assertions like “startup industry bad”.

[swsieber]

Here's (admittedly weak) evidence: calling for actions that lead to bank runs.

It's hard to take defense of startups seriously where startups are blatantly going to screw others over for their own sake. Do I get it? Yes. But it's more than me vs them; they made it an "us" vs them.

[ummonk]

The "them" in this case are those who gleefully point out that only 250k is insured by the FDIC and any startup that deposited more than that was engaging in risky behavior and deserves to lose their money.

In such a situation, you can't cry foul on those seeking to move their money into safer banks, even if doing so precipitates a bank run.

[salawat]

...I mean, I learned about the FDIC caps in like 7th grade... And my parents also made sure I was aware of it.

Where are all these people who don't know how the system works coming from? Who is advising them?

[flangola7]

But I'm not trying to be convinced of that; that fact is self-evident.

[SkyMarshal]

No it isn't.

[flangola7]

I literally just said it is.

>that fact is self-evident.

What part of this very simple sentence was unclear?

[swsieber]

Mmm... like strong encryption? Plenty of good things get bipartisan hate.