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Saudi Backlash Threatens U.S. Startups

wsj.com

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Re: Saudi Backlash Threatens U.S. Startups

#11

Post by spamizbad »

jballanc wrote: post #5

I doubt this will be a popular opinion on HN, but...this is what comes of libertarianism. What is a government other than a group of people who agree to work together toward certain goals and hold each other accountable to certain moral and ethical standards? Yet somehow, "government" has become the enemy, a thing to be done away with or reduced in scope. When you do that, and replace government with "voted for with…

I'm no libertarian, but there's really nothing intrinsic about libertarianism that would cause it to support countries like Saudi Arabia.

Political ideologies do not inoculate you against supporting oppressive regimes or even the oppression of your own people.

Re: Saudi Backlash Threatens U.S. Startups

#13

Post by seibelj »

jballanc wrote: post #5

I doubt this will be a popular opinion on HN, but...this is what comes of libertarianism. What is a government other than a group of people who agree to work together toward certain goals and hold each other accountable to certain moral and ethical standards? Yet somehow, "government" has become the enemy, a thing to be done away with or reduced in scope. When you do that, and replace government with "voted for with…

You can have a libertarian ethos without taking it to the logical extreme, just as you can consider yourself socialist without believing that the government should forcibly seize the means of production and outlaw private property.

A libertarian attitude has its place and deserves a seat at the philosophical table.

Re: Saudi Backlash Threatens U.S. Startups

#14

Post by supercanuck »

enraged_camel wrote: post #6
thatoneyouthrow wrote: post #3

Throwaway on this one for obvious reasons. Everyone makes mistakes and it is clearly a mistake to take money from repressive regimes. The #metoo movement should take a look at some of these companies. https://en.wikipedia.org/wiki/LGBT_rights_in_Saudi_Arabia

How easy or even feasible is it to track where the money is coming from? Let's say you're a startup and a VC wants to invest in you. Can you ask for that information?

Or they could go public and avoid the problem entirely. Let's not pretend there aren't other alternatives.

Public, Open markets are there for a reason.

They cost more, but are more ethical.

Re: Saudi Backlash Threatens U.S. Startups

#15

Post by cwkoss »

The tone of this article is laughable. "Poor startups are having a hard time because people are bullying them for something to which they are barely connected"

No, taking blood money is a risk - and now a bunch of companies who took the money and repetitional risk are now going to have to pay for the harmful externalities of the greedy mindset: "we want money, doesn't matter the morals attached to it"

Re: Saudi Backlash Threatens U.S. Startups

#16

Post by 40acres »

Hindsight is 20/20, but with so much cash flowing around in VC land there was obviously a lot of "dark money" involved. Whether it's funding from sovereign wealth funds of nations whose actions go against the overall beliefs of SV, or dollars that were generated as a result of war and shady business practices (tax evasion, etc.).

Many industries took a stand against conflict minerals, it was an action that could be directly traced back to a very sympathetic group. Money is a different beast, you can obscure its origin in many different ways.

At the end of the day the buck will stop with VCs and the entrepreneurs who take their money. If you have a dream and your company needs cash to fulfill that dream, how deep are you willing to go with due diligence to verify that the check you've received isn't covered in blood? Motivated reasoning is a hell of a drug.

Re: Saudi Backlash Threatens U.S. Startups

#18

Post by vkou »

thatoneyouthrow wrote: post #3

Throwaway on this one for obvious reasons. Everyone makes mistakes and it is clearly a mistake to take money from repressive regimes. The #metoo movement should take a look at some of these companies. https://en.wikipedia.org/wiki/LGBT_rights_in_Saudi_Arabia

> Everyone makes mistakes and it is clearly a mistake to take money from repressive regimes.

Is it clearly a mistake to take money from the CIA? The DoD?

A couple of current Silicon Valley giants have been seeded by that money.

Re: Saudi Backlash Threatens U.S. Startups

#19

Post by [deleted] »

jballanc wrote: post #5

I doubt this will be a popular opinion on HN, but...this is what comes of libertarianism. What is a government other than a group of people who agree to work together toward certain goals and hold each other accountable to certain moral and ethical standards? Yet somehow, "government" has become the enemy, a thing to be done away with or reduced in scope. When you do that, and replace government with "voted for with…

[deleted]

Re: Saudi Backlash Threatens U.S. Startups

#20

Post by gcb0 »

qaq wrote: post #8
enraged_camel wrote: post #6

Earlier quoted context omitted.

How easy or even feasible is it to track where the money is coming from? Let's say you're a startup and a VC wants to invest in you. Can you ask for that information?

Given the fact that SoftBank dwarfs all other funds (even combined) is it a realistic scenario?

who are softbanks stakeholders?
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