Modern venture capital is a “zero rates phenomenon”
Especially the talent accelerators I went through
They were building startup teams from scratch, ie pre idea & team
Then after only 3 months trying to say they were venture backable
Likes of Antler and Entrepreneur First style funds
The failure rate was astronomical. Including myself (twice I tried)
Admittedly they have hit some winners as well so credit that
But if interest rates weren’t at zero or close to, would they even exist?
A16z was established right after the financial crisis and at the beginning of ZIRP.
Not a coincidence.
Fortunate timing for sure
that's what that guy Peter Zeihan used to say, that alot of Tech companies are just a zero interest rate phenomenon. It was one of the things that I think he got right.
I'm still left wondering if technology is the key to an abundant future or is technology just the cherry on top of abundance.
I'm pretty sure technology is helpful with a lot of agriculture/medicine. however, then there's doubts like is modern medicine really all that, is the internet all that.
The Romans lived as long as we live today. So is all the medical tech just a fancy way to further drain the working class of their hard earned money.
i woke up on the wrong side of the bed this morning. I do know that anti-biotics are pretty amazing as well as penicillin.
The point is to ask the right questions.
If Bitcoin & Nostr do anything, it’s the ability to get some space, & re-consider the status quo
I particularly like “don’t trust, verify” in this sense. Try things for yourself. Do they improve your life? Or not?
No doubt that simply accepting big tech, big pharma, big government, as always being right, ignored incentive miss-alignment
