|
8 years ago, HN was a place full of optimism and excitement. I've noticed a marked increase in cynicism in this place. Like most of the world, it suffers from extreme tribalism and group think. I miss the former positive HN. And the positive world. sigh |
But then it attracted too many people that would just emulate the KPI in order to get funded, and instead of letting it crash and rise from the ashes, we lowered the interest rates and bailed out a bunch of "too big to fail" banks in 2008, pretty much guaranteeing viability of shitty investments. Oh, and when people started calling it out in 2012 with Occupy Wall Street, they were redirected using the centuries-old divide-and-conquer techniques.
So now it's a shell of former self. Founders try to create something that looks like a great company. VCs pour money in, hoping to resell to the next fool. Founders are now more like figureheads than idea-driven people. Most big successes (Uber, AirBnb) could be attributed more to regulatory capture than a revolutional way of doing something.
Smart people understand it very well and it doesn't make you very optimistic. You can pretend well enough to convince an average layperson, but deep inside you know the game is fake, and it kinda builds up. Notably, game-changers that are appreciated by users (rather than speculative investors) now mostly come from China (e.g. TikTok), because the vibe there (with all the downsides) is now closer to the "good old SV" than the current SV.