Venture Capital is poison. Here’s why: When you take VC, the investors invest in the sale of your company. That’s called the exit. That’s when they profit. So either your company fails or it sells (either to the public via an IPO or to another company). There’s no third option.
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Instead of this shortsighted, greed-driven, Vegas-style system, we can do things sustainably in Europe. Let’s invest not in disposable Startups but in Stayups—companies without equity that cannot sell, where the return is share of revenue/profit. Let’s get rid of exits.
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And, if we’re investing the EU taxpayer’s money — if we’re investing from the commons — let’s stipulate that the fruits of that investment must enrich the commons; that the products created are free/open, decentralised, & interoperable. Let’s build ethical tech infrastructure.
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Have you read the laws of abstraction as explained in ‘The Hackers Manifesto’? Fascinating and economically spot on with what you speak.
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Have not. Will do (thanks) :)
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What do you suggest for a funding source, for building an ethical project that must sustain itself in the long-term? I have only two ideas, neither satisfactory: 1) Public funding: susceptible to nightmare bureaucratic hurdles & politics 2) Agriculture (seriously) Anything else?
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