Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by bloodyplonker22 on Sunday March 12, 2023 @07:30PM (#35128122)

You're going too far by calling VCs "rent seekers". They do provide value with other peoples' money to build companies. No matter how much people love to hate them, they are a necessary part of the startup ecosystem. Most of them fail and end up in tears in the long run -- it's just the nature of VC. There's no need to punch them when they're down.

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Re:Joint Statement by the Department of the Treasury, Federa... by kazen44 on Sunday March 12, 2023 @07:53PM (#35128404)

in my personal opinion most if not all modern startups are seeking to create a system in which rent seeking behaviour is the end goal.

The stereotypical SV playbook is to enter a market, don't give a crap about the local regulation or laws, try to get big by using your cheap money to outstrip to competition and do rent-seeking when you are the largest.

Also, a lot of startups are solving non fundemental problems.

We should be spending all that engineering effort fixing things like climate change, food security for the global south and a way to deal with the aging population in the western world instead of thinking about algorithms to get more clicks on ads.

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Re:Joint Statement by the Department of the Treasury, Federa... by molsongolden on Sunday March 12, 2023 @08:33PM (#35128892)

A few companies have done this but calling it the stereotypical playbook is a bit over the top.

Also, there are many startups building stupid junk to capture a piece of the pie but also many startups working on real problems.

This whole comment is a reductive cliche at this point.

Please start a company to work on fixing climate change, food security, aging, etc.

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