Technology

59204 readers

4036 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

705

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

153 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

[–] Chetzemoka@startrek.website 29 points 1 year ago* (last edited 1 year ago)

This right here has been my experience with VC. I was working for an online retail startup when 9/11 happened. Within days, we were all called into the office to be told we were shutting down because the VCs pulled our funding. This despite the fact that we were only two months away from projected profitability and beating our sales projections every single month. But we weren't the biggest paying bet in the casino, so they dumped us when the cash flow got tight.

That would have been a successful company, but it wasn't good enough for the VC class.