Technology

59201 readers

3099 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

695

Hey tech billionaires, if you want to talk about radical change, let’s abolish venture capitalism (www.theguardian.com)

submitted 1 year ago by JRepin@lemmy.ml to c/technology@lemmy.world

112 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] UnderpantsWeevil@lemmy.world 29 points 1 year ago

It’s pure credentialism and institutionalism.

Not a coincidence that folks with Ivy League degrees get showered with money, while kids from state schools end up doing all the drudge work that keeps infrastructure running.

VC is a poison pill. It’s not there to drive innovation but to filter down who has access to opportunities. Their ideas about what works or doesn’t are bad, and largely driven by the culture they are apart of. They worship elitism and credentials, but will the respect for those who are willing to do the work. It’s inherently extractive. They add nothing. Want to kill a business? Take VC money.

Its an excellent way to cash out of a mediocre idea. Also an excellent way to elevate a mediocre idea from a regional/niche/insider scam to a national stage.