#vc

See tagged statuses in the local BookWyrm community

For anyone wondering why () is a bad idea, here's an example of a supposedly ethical social network that was enshittified and destroyed by VC money:

https://waxy.org/2024/01/the-quiet-death-of-ellos-big-dreams/

"VCs ... primarily invest money in startups to get a return on their investment, on behalf of their limited partners. That (is) usually an exit: an acquisition or an IPO."

"(VC-backed projects) will inevitably be pushed towards profitability and an exit, even if it compromises their current values. Sometimes, this push comes subtly in the form of advice... Sometimes, as more direct pressure from the board.... or by replacing the founders."

WHO KNEW THERE WAS SO MUCH TALENT* IN ONE FAMILY?!?!

'Then there’s Kushner’s famous family...both a stepping-stone & an obstacle to his aspirations. His father went to jail for crimes he committed while building his real estate empire. His brother, Jared, wed Ivanka Trump, & later served as top aide to her divisive father...The backlash against the family has made Josh keenly aware that in business, your reputation is everything.'
🤣
*You know....""talent""
https://fortune-com.cdn.ampproject.org/v/s/fortune.com/longform/josh-kushner-net-worth-thrive-capital-investments/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQGsAEggAID#amp_tf=From%20%251%24s&aoh=17054659818999&csi=1&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Ffortune.com%2Flongform%2Fjosh-kushner-net-worth-thrive-capital-investments%2F

In a interview this week, @Mer__edith explains the relationship between and :

«VC's require hype to get a return on investment because they need an IPO or an acquisition […] You don't get rich by the technology working, you get rich by people believing it works long enough that one of those two things gets you some money.»

Quote starts at 17:35; entire statement on hype at 14:02
https://www.washingtonpost.com/washington-post-live/2023/10/26/lessons-last-decade/
h/t @adfichter and on

Do I want it?
↓
Is it by a startup?
↓
No.

(A ‘startup’ is not just any new small business. It’s a temporary venture capital funded company that must either fail fast or exit. An exit is where you’re either bought by Big Tech or become Big Tech through an IPO. To understand this better, if you have a sustainable small company, a startup is what will put you out of business.)

All lasting things are strangled by and debt loading for a quick profit.

The parent company of Pyrex / Instant Pot file for bankruptcy (chapter 11). These companies are staples in many households, but often once in a decade purchases not aligned with 6%/yr shareholder revenue. Expect decreasing quality, and increasing costs from whatever is left after.

@pluralistic

https://edition.cnn.com/2023/06/13/business/instant-brands-bankruptcy/index.html

If you're having trouble understanding what all the fuss is in the discourse around funded maintaining existing structures of power, take a listen to @parismarx 's guest anthropologist @jms_wright on elder care robots in Japan and the conservative social and economic pressures willing them into existence. (It's easier to see the biases and contradictions in someone else's culture. Perhaps understanding these will help us elucidate those of western culture.)

https://www.buzzsprout.com/1004689/12443791-robots-aren-t-the-solution-to-elder-care-w-james-wright