I wonder how we'll look back at the last 30 years at this point:
- We have a total lack of oversight, transparency on private companies and their finances
- We have VCs that very much have the capability to pump up value in a way that is detached from reality.
- The language of startups discourages saying "We are trying to..", you just say "We are". This is a launch pad for a more general culture that lacks integrity.
- The founder has become more and more of an idolized archetype. Character flaws are accepted as part of "what it takes". We accept dishonest behavior as hacks and part of the hustle.
I think this is a risk that applies to the whole VC backed tech startup economy.
- We have a total lack of oversight, transparency on private companies and their finances
- We have VCs that very much have the capability to pump up value in a way that is detached from reality.
- The language of startups discourages saying "We are trying to..", you just say "We are". This is a launch pad for a more general culture that lacks integrity.
- The founder has become more and more of an idolized archetype. Character flaws are accepted as part of "what it takes". We accept dishonest behavior as hacks and part of the hustle.
I think this is a risk that applies to the whole VC backed tech startup economy.