This story of tech bros slamming brewskis down at the hostel is then turned into a pluckish writeup that can climb the front page of Hacker News, where hopefully other investors will see it and decide to be more generous than YC. This is how you game a planned economy in 2019
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Smart people respond to incentives, and we're going on 20 years now of the incentive being "learn how to make rich people with enormous amounts of investment capital feel visionary by paying you". WeWork is emblematic but the problem has broken an entire generation of tech minds
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I'm a big fan of capitalism, but it only works if there are enough participants in the market to channel resources to where they're broadly useful. In SV, the "market" is just a few hundred large egos with access to almost infinite investment funds. It optimizes for self-delusion
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I'm not kidding about the "culture fit" part, either. Two guys in their twenties who gave up their life savings to follow a crazy dream! Not a story you'll hear a lot at YCombinator.pic.twitter.com/yNi7D4mRGu
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it is telling how, once they realized they could charge people for the product, they decided to go back for cheap capital rather than... charge people for the product.
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That's the thing I'm trying to point out. The revenue only mattered because it improved the story the investors would hear. The founders know where the real money comes from
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welcome too gamification
Thanks. Twitter will use this to make your timeline better. UndoUndo
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