Venture Capital is when a group of rich douchebags get money from a group of even richer douchebags for some likely-not-rich-yet douchebags to create things that exploit the rest of us so all the douchebags involved can get richer still.
#ventureCapital #vc #surveillanceCapitalism #peopleFarming #BigTech #SiliconValley
@aral that's extremely cynical. There are good people using VC money to build good things.
@jcrabapple @aral VC is increasingly optimized towards an exit strategy, not a sustainable business. If you’re trying to build a product that lasts and that people get to enjoy for years, the incentives of VC run counter to that
@jcrabapple @aral "Good" things to sell that were built with exploited labor.
@aral what is it that every time "capital" is involved, something bad happens?
@aral vulture capital
@aral Venture Crabitalism 🦀
@aral what funding method do you propose as an alternative? Working part time on your idea until you can live from it?
@aral I love this talk! Very cool. But doesn’t seem to be related to my question 😶
@filipe Basically, it’s the bit where I tell them that they should be funding tech for the commons from the commons :)
So, no, folks shouldn’t have to sacrifice just to do the right thing. I had to sell two houses and have been living with some level of precariousness for the eight years or so I’ve been working on understanding the problem and building a possible solution to it. You shouldn’t have to do that when any asshat can get $5M in VC to make a social network you can only say “yo” in.
@aral I totally agree!! I’ve been thinking about going to live with my parents again while I can figure out how to do this… I have a bunch of ideas that I wanna build but do not want to be vc funded.
My other plan is to create a business for VC, exit, and clone it with improvements as open source after I have some money to survive lol
@filipe You know, if you get along well with your parents, the first option sounds like it’ll be a far better experience for you.
If you wanted to protect the environment, you wouldn’t initially create a successful fossil fuel company. Which is essentially the tech/data equivalent of what you’d have to do as that’s what VCs will fund. And you’d have to build it to their success criteria.
If you can, I think you’d be happier starting to work on what you want to. At least I know I am that I did.
@filipe (Regardless of the sacrifices.)
@aral always love to hear you talk! Very passionate
@filipe Thank you, that’s very kind :)
@michal This is true :)
Wisdom from @aral:
Venture Capital is when a group of rich douchebags get money from a group of even richer douchebags for some likely-not-rich-yet douchebags to create things that exploit the rest of us so all the douchebags involved can get richer still.
#ventureCapital #vc #surveillanceCapitalism #peopleFarming #BigTech #SiliconValley