This behaviour is probably what amazed me most when I was a founder in San Francisco ~20 years ago. It’s been gradually spreading to Paris and that’s a very good sign.https://twitter.com/mwseibel/status/1024315791385055232 …
I don't have as much experience in SV as you do, but this is bullshit/hyperbole. "No economic incentive" should really be "no *immediate or contractual* economic incentive." Much of SV investing is determined by deal flow and being owed favors and having a good reputation helps.
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Of course you're right. Adam Smith said "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." This type of self-interest is mainstream in SF/SV, not so in other parts of the world.
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I cannot speak to other parts of the world, but this certainly exists in the traditional consumer packaged goods industry as well. I've also read about it in others. People who are successful are most thankful for those who helped them when they were not.
End of conversation
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