I'm absolutely shocked that venture capitalists' ideas about the transit we need aren't universal.https://twitter.com/FitzTheReporter/status/1117878325744037888 …
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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Sasha Perigo Retweeted Joe Fitzgerald Rodriguez
I'm absolutely shocked that venture capitalists' ideas about the transit we need aren't universal.https://twitter.com/FitzTheReporter/status/1117878325744037888 …
Sasha Perigo added,
Uber has raised $25B in venture capital funding, while Lyft has raised $5B. Various scooter companies have raised hundreds of millions.
I'm imaging the society we'd be living in if that money had been put towards public transit and crying a little... 
Venture capital comes through university endowments, public sector pensions and foundations that expect a return on their investment in various VC funds. If they want to lose money and not be able to fund, say, public sector workers' retirements or universities, then
I guess they could put it into public transit, which generally loses money.
Unless there was an intention to "replace" public transit and have public money pay for those losses, thus having their cake and eating it.
That comment wasn't like a negative about public transit losing money. Public transit is a public good. Fare recovery rates (excluding some of the newer, major Asian cities) are usually negative in most parts of the world.
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