https://fortune.com/2023/06/25/irl-shutting-down-startup-admits-95-percent-of-messaging-app-users-were-fake/
The messaging app startup hit a $1.2 billion valuation a few years ago.
“Building a real business without fraud means it’s nearly impossible to reach ‘unicorn status’ in a few years time,” tweeted Winnie CEO Sara Mauskopf, whose company offers a marketplace for childcare.
Can't get ahead unless you cheat and commit fraud. Says a lot about capitalism right there.
I get that the quote is that specifically, but that seems to have been the goal for a lot of Venture Capital however stupid it was. In addition, a certain sect of the population put billionaires, like Musk and Bezos on a pedestal, like their intelligence is the only thing that got them to where they are, and not being born decently rich and creating an empire of exploitation to esrn their billions.
Yeah, can’t wait for all those unicorns to fold. It will be a great time for all companies that are doing 10-20% growth, as they will be getting all the money when investors start getting careful again
We live in capitalism. The rational choice within that is apparently to stop investing altogether, let everything crash and then flood everything with cheap money again.
Boom and bust is more better, if you're the one causing it and not some of the plebs actually trying to get something done or, the horror, put food on the table.