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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The best thing is that optimism inherent in capitalism ensures that the music never stops
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If burning VC Monopoly money can make SF this $$ we need to rejoice at opps to balance the ledger.
For about 9 mo Uber had a deal that allowed ppl to commute into SF at rush hour for ~$3.50. Bridge fare is $7. Should have been a $25-35+ ride.
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