21–30 of 45 posts
Earlier quoted context omitted.
Those did not emerge from these unicorns, except maybe OpenAI. (Tesla was already public prior to this. Smartphones didn't come from a VC-backed startup.)
>Smartphones didn't come from a VC-backed startup. This isn't entirely correct: both Palm and Apple (the creators of the smart phone) were originally venture-backed.
> Due to the abundance of companies floating on the markets, This decade will introduce a long awaited tech crash that will reset and purge those companies unable to turn a profit. It will get harder for startups to seek capital since most of FAANG and other established companies with strong portfolios will move into novel industries that will invade their market share.
So hardly surprising.
I would gladly work for less money for a small company doing something valuable in the real world with realistic ideas about steady, healthy growth. They're tough to find though.
Earlier quoted context omitted.
Do you think that LLMs are not a benefit? Smartphones? Electric cars?
No, I think there was little benefit besides overinflated tech salaries and founders cashing out in tech unicorns. Smartphones are products of Big Tech, EVs a handful of startups (Tesla, Rivian, Lucid). Most recently, Silicon Valley is a grift ecosystem (fueled by zero interest rate policy) masquerading as innovation and a load bearing component of the economy. We can do without unicorns, the world will be better off…
It's like the world declaring someone World's Greatest Coin Flipper after and not before that person flips a coin 12 heads in a row.
Earlier quoted context omitted.
Do you think that LLMs are not a benefit? Smartphones? Electric cars?
No, I think there was little benefit besides overinflated tech salaries and founders cashing out in tech unicorns. Smartphones are products of Big Tech, EVs a handful of startups (Tesla, Rivian, Lucid). Most recently, Silicon Valley is a grift ecosystem (fueled by zero interest rate policy) masquerading as innovation and a load bearing component of the economy. We can do without unicorns, the world will be better off…
Earlier quoted context omitted.
No, I think there was little benefit besides overinflated tech salaries and founders cashing out in tech unicorns. Smartphones are products of Big Tech, EVs a handful of startups (Tesla, Rivian, Lucid). Most recently, Silicon Valley is a grift ecosystem (fueled by zero interest rate policy) masquerading as innovation and a load bearing component of the economy. We can do without unicorns, the world will be better off…
EVs are the product of big auto manufacturers as well.
Earlier quoted context omitted.
No, I think there was little benefit besides overinflated tech salaries and founders cashing out in tech unicorns. Smartphones are products of Big Tech, EVs a handful of startups (Tesla, Rivian, Lucid). Most recently, Silicon Valley is a grift ecosystem (fueled by zero interest rate policy) masquerading as innovation and a load bearing component of the economy. We can do without unicorns, the world will be better off…
> (VC as an asset class has poor returns, VC funds make their fees throwing darts pretending to be thought leaders when it’s mostly luck, etc) It's like the world declaring someone World's Greatest Coin Flipper after and not before that person flips a coin 12 heads in a row.
Earlier quoted context omitted.
Those did not emerge from these unicorns, except maybe OpenAI. (Tesla was already public prior to this. Smartphones didn't come from a VC-backed startup.)
>Smartphones didn't come from a VC-backed startup. This isn't entirely correct: both Palm and Apple (the creators of the smart phone) were originally venture-backed.
Earlier quoted context omitted.
Do you think that LLMs are not a benefit? Smartphones? Electric cars?
No, obviously not. Smartphones are a mixed blessing, I'm not sure we're better off with the little distraction machines, but both them and electric cars were things that could plausibly have developed more slowly, deliberately and thoughtfully over time without being "juiced" by distorted market incentives. They could have developed by companies simply evolving phones and cars over time.
But virtue of having web browsers they also channel social media. Having social media come in through our phones does make it worse, but it was already bad even on laptops. (Writing this on a social media site using my phone is kind of funny).