Which is not necessarily a good thing. The one that becomes a unicorn generally does not bring a lot to society. Would be nice to invest in constructive projects for a change.
There is a nie essay from PG about how venture funding kind of has to work this way. Also speaking from experience of a friend who tried it other ways.
If you want >90% of projects you invest in, you need to invest in conservative fields, and grab 30-70% very early on, because your returns will be way lower.
As for not bringing anything to society - you mean to say that tech field and our startups didn't bring worth to society? Seriously?
> you mean to say that tech field and our startups didn't bring worth to society? Seriously?
Wanna talk about surveillance capitalism? Ultra consumerism? The biggest startups in the world have created a world where the goal is to win people's attention to sell ads. The goal of startups today is not to make good and useful products, but to sell stuff. Usually it means that time to market is more important than quality. Remember fitbit? "Doesn't matter if the product is crap, as long as it is cheap".
Not everything is bad, but I think we can definitely wonder if the world wouldn't have been better off without those startups.
If you want >90% of projects you invest in, you need to invest in conservative fields, and grab 30-70% very early on, because your returns will be way lower.
As for not bringing anything to society - you mean to say that tech field and our startups didn't bring worth to society? Seriously?