Do you support sustainability, social responsibility, tech ethics, or trust and safety? Congratulations, you’re an enemy of progress. That’s according to the venture capitalist Marc Andreessen.

  • TropicalDingdong@lemmy.world
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    1 year ago

    You are free to take your great idea to VC and see if they get funded bro. I think they are a complete joke at this point.

    • KarmaTrainCaboose@lemmy.world
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      1 year ago

      I don’t have a good business idea, not everyone has to. That’s not even what we’re talking about.

      VC is clearly not “a joke”. All you have to do is Google “major companies that took VC funding” to see the impact of it. Of course this leaves out the thousands of others that failed, but long term the winners are going to have a very positive impact on driving innovation.

      You may say “those companies would have succeeded anyway” and maybe so, but I doubt it would have happened nearly as fast, if at all.

      • TropicalDingdong@lemmy.world
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        1 year ago

        VC today isn’t VC 20 years ago isnt VC 40 years ago.

        VC today has ridiculous expectations on ROI and it re-enforces poor decision making, which, imo, brings down companies that might otherwise have been successful. Its part of a culture that was propped up by access to ridiculously cheap money. Modern VC is a dice roll at best, maybe worse.

        • KarmaTrainCaboose@lemmy.world
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          1 year ago

          The final summary of the article you linked:

          “Using 105,950 observations from 32 different studies we find that CVC investments are performance enhancing, for both corporations and start-ups. Our results detect that time, country, and industry moderate the effects. Especially after the Dotcom bubble burst, high performance is detected. Similarly, the performance in the U.S. outreaches the performance of other countries. Due to the high risk of successfully developing a pharmaceutical drug, no statistically significant effect of CVC investments in the health care industry is observed. As expected, strategic performance outperforms financial impacts. Although there is good rationale for a clear strategic focus, the finding that CVC investment does not lead to stronger financial performance is surprising and urges practitioners to rethink their CVC objectives and approach”

          Disregarding the fact that this is only looking at CVCs and not traditional VCs, I don’t think this really supports your argument that it is a dice roll at best. Seems to me like it is broadly beneficial with some caveats.