Founder of $14B startup Bolt calls Silicon Valley ‘boys club’ full of ‘mob bosses’

Comments

• sj_zero@lotide.fbxl.net ⁨2⁩ ⁨years⁩ ago

  I don't really like the particular words that he's used here because progressives have hijacked them so now they have a racist and sexist undertones, but I strongly suspect that he's absolutely right in what he's actually saying.

  Let's face it, these venture capital firms are King makers. The money they invest into a company is enough to take companies with business models that will never ever be profitable and make the founders rich, and they know it.

  It's been one of my ongoing criticisms of the current economy that there's so much money available all you need is some VC funding to blow up.

  I think it's one of the results of a lack of liquidity in the system. Every new viable investment ends up sucking in capital like a black hole because people are desperate to find some way to keep their capital intact. I've been saying it a lot lately, I think that the next two years, maybe even just this year, will bring a lot of stuff returning to something more resembling normal. I think we're going to see bond yields going up, and once that starts to happen people are going to start investing in safe bonds rather than these incredibly dangerous but incredibly lucrative speculative assets.

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  • sj_zero@lotide.fbxl.net ⁨2⁩ ⁨years⁩ ago

    s/lack of liquidity/excess liquidity

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