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marc andreessen, running a firm with $10b in management whose portfolio page prominently lists “acquired” as the exit for like 90% of its companies, whose products are never to be heard of again: why won’t our institutions build things that last
some super defensive pro-vc account is gonna qt this w some shit like “the vc model has produced more innovation than any other system ever” and it’s like. maybe? maybe not? is it worth the immense amounts of waste in this industry we just don’t know there’s no counterfactual lol
Lot of tortured souls in tech pocketing the money and then turning around and badmouthing so someone else can repent
VCs rarely invest in things that pay off over 15 or 20 years. Those are the kind of things he’s talking about building. His piece lacks self awareness.
Strong argument for definitely not compared to WWII thru 1960's innovations that set the foundation for modern age?
The counterfactual to vc financing is other existing financing models eg debt financing from traditional banks as is common throughout much of Europe.
Two facts that VCs can never deal with are that the entire space and internet industries are built upon decades of govt-led and -funded R&D. VCs just looking to mark up their book would never have invested in these decades-long horizon projects.
Somehow they are super proud of their new dumb unicorn but unwilling to admit that the very internet itself was a government project. The govt built a house. VCs funded the construction of a dining table in that house, and brag to everyone about the great house they built.
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