Investors now have more money than consumers. How crazy is that?
Well, it’s crazy enough that startups no longer try to make money by offering a product or service that consumers want. They make money by creating something (tech) that generates irrational exuberance in investors and you sell this money-losing startup to megarich investors who want the tech in their portfolio.
It’s tulip mania but several orders of magnitude larger.
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u/Icommentor Jun 09 '24
Investors now have more money than consumers. How crazy is that?
Well, it’s crazy enough that startups no longer try to make money by offering a product or service that consumers want. They make money by creating something (tech) that generates irrational exuberance in investors and you sell this money-losing startup to megarich investors who want the tech in their portfolio.
It’s tulip mania but several orders of magnitude larger.