yes and so are the worst, and the problem is 95% of ideas that sound stupid aren't stupid and genius, but just stupid. As Peter Thiel used to say, it's not enough to be a contrarian, that's easy, you need to be contrarian and correct.
Right, and let’s not forget that the VC game that YC plays in assumes that the vast majority of their ventures will fail.
It’s way more exploitative than it gets credit for, even those who criticize VC firms aren’t verbalizing the vastness of the scope of the issue:
Startup incubators prey on young and ambitious people’s willingness to have zero life outside of work in order to set 90% of them up to fail and make huge profits off of the 10% Airbnb-type success stories.
These VC firms have money but no talent or time of their own so they basically steal it from founders in exchange for a Hollywood or pro sports-style superstar pipe dream where most are statistically guaranteed to fail, and even those who succeed don’t keep the majority of the fruits of their labor.
These failed startup founders end up with skills that are supposedly transferable to future ventures or what have you, but I bet if someone actually tracked down a lot of these people they might find a lot of sob stories of early stage founders who ended up burning out of their early career and having the whole startup founder experience representing a net negative in their lives.
yes and so are the worst, and the problem is 95% of ideas that sound stupid aren't stupid and genius, but just stupid. As Peter Thiel used to say, it's not enough to be a contrarian, that's easy, you need to be contrarian and correct.