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The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Lonely street of broken dreams
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    1. Pinboard‏ @Pinboard 1 Nov 2019

      I enjoy Matt Levine's writing but have to disagree with him here. The tragedy of WeWork (and related unicorns) is the opportunity cost of real innovation in a tech startup economy that wasn't busy chasing laundered Saudi money.pic.twitter.com/sBBOrc7oOC

      4 replies 35 retweets 125 likes
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    2. Pinboard‏ @Pinboard 1 Nov 2019

      Many startup founders have a dream of creating a big business. The way the system is supposed to work is you find an idea so profitable that it gives you the means to do that. But if someone is handing out billions just for telling them a story, you're a fool not to take it.

      2 replies 4 retweets 40 likes
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    3. Pinboard‏ @Pinboard 1 Nov 2019

      What's the last piece of real innovation to come out of the Silicon Valley startup economy? Genuine question.

      12 replies 11 retweets 44 likes
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      Pinboard‏ @Pinboard 1 Nov 2019

      We were making fun of "alleged tech startup doing an obviously money-losing non-tech thing" back in the Groupon era. But WeWork makes Groupon look like Standard Oil

      9:07 AM - 1 Nov 2019
      • 10 Retweets
      • 40 Likes
      • RunbyAtwirl ikrima Jean Jake Nelson Danger Manley Chad Chabot Chip_Trenckmann Matthew Petersen 🔴 Florian Schmidt 🔴
      1 reply 10 retweets 40 likes
        1. New conversation
        2. Pinboard‏ @Pinboard 1 Nov 2019

          The whole premise of tech venture capitalism is you have a very high failure rate to justify weird bets. But when the metric of success becomes simply getting investment, then the failure rate goes to zero, and you are left with a bizarre planned economy run by tech bros

          4 replies 31 retweets 98 likes
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        3. Pinboard‏ @Pinboard 1 Nov 2019

          The one thing that makes capitalism work—the constraint that you need to sell your product at a profit in a competitive market—has been discarded from tech industry venture capitalism.

          3 replies 26 retweets 61 likes
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        4. Pinboard‏ @Pinboard 1 Nov 2019

          There's also a massive non-financial cost to WeWork and its family of unicorns, which is that it has acculturated a generation of young tech people, mostly men, into a fundamentally toxic vision both of business and of what it means to be successful

          0 replies 14 retweets 34 likes
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