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by tovej
208 days ago
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The risk profile being the same does not mean that the actions are the same. The unicorns that make it rich invariably have some way of screwing over someone else., Either workers, users, or smaller competitors. For Google and Facebook, users' data was sold to advertisers, and their behaviour is manipulated to benefit the company and its advertising clients. For Amazon, the workers are squeezed for all the contribution they can give and let go once they burn out, and they manipulate the marketplace that they govern to benefit them. If you make multiple hundreds of millions, you are either exploiting someone in the above way, or you are extracting rent from them. Just looking at the wealth distribution is a good way to see how unicorns are immoral. If you suddenly shoot up into the billionaire class, you are making the wealth distribution worse, because your money is accruing from the less wealthy proportion of society. That unicorns propagate this inequality is harmful in itself. The entire startup scene is also a fishing pond for existing monopolies. The unicorns are sold to the big immoral actors, making them more powerful. What is taken away when inequality becomes worse is political power and agency. Maybe other contributors close to the founders are better off, but society as a whole is worse off. |
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