True. People here can be like this. I have not forgotten even the greatest juice maker of all times, Juicero was similarly disparaged with all this negativity.
True. People here can be like this. I have not forgotten even the greatest juice maker of all times, Juicero was similarly disparaged with all this negativity.
The greatest juice maker was in fact magic leap
Or Color
So was Dropbox famously
Ah yes, they were simply ahead of their time.
Yes. VCs invested money. It ended up a flop. And this hurts us... how exactly? Other than some VCs losing their money on a bad bet, who cares?
Well a lot of people on this forum are founders or early employees in startups. Every dollar vcs set on fire chasing some obviously stupid idea, waste on crypto memecoins, etc is a dollar that is not helping some legitimate startup get funded.
Yes, but when you put it as "why are you investing in these bad ideas? Invest in mine, it's obviously much better", it sounds a lot more self-interested (and far more likely to be wrong).
You asked how it hurts people. That is how it hurts people.
Often I think if the money could not be used for some better purpose. It is still huge resources wasted. Like digging and filling same trench. Overall it is not efficient use of resources or time to me.
But maybe there is some gain that I can't just imagine...
You can say the same about most science research. In fact, many people do say the same, scrutinizing many different avenues of research as pointless. There are countless examples of "pointless" research ending up being useful.
(Note that it's much more legitimate to scrutinize scientific research, since it's mostly publicly funded, as opposed to VCs investing in startups.)
> Overall it is not efficient use of resources or time to me.
I mean, the tech world has done a lot of good and advanced humanity a lot. More than most industries, IMO. Most of that is by inventing new things. A society could dial down useless spending by dialing down innovation, but it's not clear to me that there's a way to get more innovation with less waste than the current system.
I think many industries are far more of an "inefficient use of resources". I think if the world as a whole would spend 10x more on scientific and technological advancement, at the cost of less e.g. fashion, less investment in entertainment, less investment in (some forms of) finance, etc, the world would be far better off. (I'm not advocating that this should be forced on society, just stating my opinion on what a more optimal way of allocating resources would be.)
These people somehow imagine that they (as taxpayers perhaps) are going to pay the cost one way or another. Not to mention there's a tinge of jealousy over the level of VC money involved - they imagine these people do not "deserve" it.
It's a bad look on the entire industry. We send billions to serial grifters selling vaporware while the backbone of the internet is basically powered by $5 donations