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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Agreed. There's plenty of models beyond ownership by private individuals with lots of capital to throw around. Mutuals, coops, and other forms of non-capitalist ownership really should be on the agenda.
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This would decrease the capital contributed to startups, reduce innovation and economic growth. Capitalism is awful...but less awful the alternatives. No one has yet found a better way to gauge societal value than market price. Passing that power to authorities is bad.
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2/ to be clear, market price is a bad estimate of societal value. But it’s less bad than a panel of bureaucrats or legislators that are influenced by the votes or money of special interest groups.
End of conversation
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The aversion against VC and the demand for taxpayer subsidised, open technology are two completely orthogonal concerns
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You cannot rely on sanity of politics, Aral. Any project that is interesting enough needs to run for a long course of time, I would put it at 20 years. At least, for 10 years. There needs to be assured funding for such a long period of time. It's not sensible to rely on politics.
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