Better Offline How Growth Is Killing Tech's Innovation, ft. Robert Evans
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Mar 20, 2024 Discussion on how the growth-driven mindset in tech hinders innovation, with examples of unsustainable businesses, inflated valuations, and lack of genuine advancements. Critique of prioritizing profits over creativity, societal impacts of tech elites disconnect, and call for ethical innovation.
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VC's Shift in Focus
- Venture capital, once focused on long-term viability, now prioritizes rapid growth for quick profits.
- This shift incentivizes "pump and dump" schemes, hindering true innovation.
Crypto: A VC Playground
- The crypto industry epitomizes the venture capital problem, prioritizing scams over substance.
- It leverages psychological phenomena and deregulation for quick riches.
Andreessen Horowitz's Crypto Scheme
- Andreessen Horowitz, a prominent VC firm, exploited the crypto market by investing in shell companies with inflated valuations.
- They then dumped tokens onto retail investors, profiting billions while contributing nothing of value.