I’d like to see an estimate of inter-generational wealth transfer accomplished by failed/failing unicorns whose services have subsidized our premium mediocre lifestyles for a decade 🤔
Functional, cheap, unprofitable services are a sort of shadow income, like shadow labor
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Back when I wrote the Locust Economy, I assessed the wealth transfer as primarily bring from service class to middle class but now I think the bulk has probably been from VC $, which is ultimately from investment funds owned by old people/institutions.
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It’s not just tech of course. Like all the good non-Starbucks coffee I’ve consumed has been from unprofitable indie coffee shops.
Your idealism margin is my lifestyle opportunity 😆
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Fascinating observation that - LPs+VCs as intermediaries who transfer wealth from pension funds (wealth managers for older gen) to startups (which subsidize services for the young gen).
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It’s kinda so obvious it’s hard to see
But on,y a narrow subset of the young benefit
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