Silicon Valley Deserves Your Anger w/ Ed Zitron
Tech Won't Save Us
00:00
Venture Capitalism Shift from Value Creation
The evolution of the startup culture saw a shift towards prioritizing financial gains over value creation. Initially, startups were created by software engineers focusing on innovation and cool ideas. However, over time, venture capital became too powerful, leading to startups aiming to attract funding rather than creating value. This resulted in startups shaping themselves to cater to investors rather than customers, ultimately deviating from the essence of tech innovation. The system became about building companies to sell them to venture capitalists, who in turn sold them to big tech firms, leading to a disconnect from genuine value creation and customer satisfaction.
Play episode from 45:46
Transcript
