Startups are *temporary* companies: fail fast or exit. Exit could be getting bought or an IPO. Either way, it’s a disposable culture…
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…which, when successful, leads to monopolies & even greater centralisation of wealth and power. Not a sustainable system.
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@aral short update on EUparl discussion: The local industry chamber says that 50% of startups here are still around after 5 years. -
@ArneBab Are they startups? Are we talking VC-funded tech firms that farm people? Or just new/small businesses? -
@aral startups: small businesses, mostly funded by regular bank loans or saved up money. -
@ArneBab That’s not the brand Silicon Valley has invested billions in. Either we need to invest in reclaiming it or let’s find a new term.
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@aral *and* by investing billions and decades in hard core breakthrough R&D that no small company could afford. -
@TedNovikov Billion-dollar interests of the 1% aren’t the only possible drivers for progress. Problem to fix isn’t tech, it’s Capitalism.
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@aral majority shareholders of these cos are huge pension funds. Thus corps earning these profits for teachers' and plummers' etc pensions. -
@TedNovikov Pls don’t be ridiculous. I understand you support the status quo; that’s fine—but you can’t spin systemic inequality that far.
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