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Aaron Greenspan
I am very used to being simultaneously bemused and disgusted by the piggish bacchanalia of Silicon Valley venture capital. The libertarianism, the technological solutionism, the colossal, pathological egos, the MBA worship...none of it surprises me. It makes sense in its own way. VC is just another investment class where the investors want their money, and they want a lot of it, now. Of course they're going to be cuthroat jerks.
So with that context I'm sure that what I'm about to describe has been going on for a long time and I just didn't notice it. But there's a company I hadn't heard of that just raised $20 million (which, by the way, is a lot of money!) in funding and I wanted to see who the co-founders were.
Surprise!
One of them is a former...venture capitalist. At one of the firms that led the company's funding round. Before that, Goldman Sachs. And Stanford. Of course. The only proper pedigree for a Silicon Valley "thought leader."
I interpret this to mean that we have reached the inflection point at which there aren't enough smart people out there to invest in. "That's right boys, we can't find any more smart people. Guess we'll just have to start funding ourselves! Who would make a better CEO, after all, than one of us!"
Just incredible. Add incestuousness to the list of descriptors above.
They definitely did not need $20 million for this company. Or even $1 million. |
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May 12, 2022 at 1:47 AM EDT •  Reply |
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