[rayhano]

There are so many pieces on what is wrong with the London scene, because the real scene (full of crazy people) is in Silicon Valley. You cannot compete with the insane people there who are happy to destroy capital and jobs in the pursuit of notoriety, peer adulation and the odd $1bn exit.

[psb217]

You seem to be ignoring the central role played by London financiers in the largest global destruction of "capital and jobs in the pursuit of notoriety, peer adulation and the odd $1bn exit" in the last 50 years. In other words, there's a perfectly adequate bankroll, but they happen to prefer poker over blackjack.

[rayhano]

Sure, but tech is small-fry talk compared to finance. Want to talk finance and we'll have to up the chit-chat to A-league economics... are you game?

Tech is easy. It uses machines to make light of manual tasks. It helps to find efficiencies. Add money into the mix and it creates a gold rush. Is Silicon Valley more than a gold rush where the guy selling the spades is getting seriously rich while once in a while some idiot or other hits a rich seam and then everyone wants to build an instagram... sorry, I mean mine in that place...

[untog]

I don't think that's really a fair characterisation of anything.

[rayhano]

If VCs published data of all their investments, and produced it in a form that is comparative with other 'asset classes', you would soon see why tech VC HAS to be confined to the desert...

(yes, yes, I am over-dramatising, but would it be any fun if I put across something more balanced?)