I remember all the person years spent moving Flickr (and Delicious and other sites) onto Yahoo usernames. This used to be such an easily profitable business, and now it's a basket case. That's not a dig at the new owners, who are doing a labor of love. Our industry is not healthyhttps://twitter.com/DonMacAskill/status/1024412481022611457 …
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Think of all the products that used to exist that did something helpful, and that you can't find now in any form. They would still be viable medium-size businesses in any other industry, but get torn apart by the tidal forces of venture capital in ours.
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Replying to @Pinboard
I wonder a lot whether the lack of wealth taxes helps create this gross VC system. If there weren’t people with so much money hoarded that they could afford to fund years-long zero-profit hemmoraging, would this system exist the same way?
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If you trace it back, a lot the investment glut comes from the 2008 financial crisis and sovereign oil money, so there's a whole systemic argument to make.
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