All this layoff talk got me thinking...
I recently read a post on Blind comparing current tech layoff situation to the dot com bubble. The dot com bubble was fueled due to speculation for something new and promising. The Internet. Everyone knew it was the next big thing and startups started using the same buzzwords around to get acquired and even ipoed. The current tech landscape, especially all new companies founded after 2011, is mostly fueled by lowest interest rates. Private investors or VCs pumped these companies to sky high valuation while knowing well their business model isn't sustainable for profits and dumped them on retail investors. Robinhood, Pinterest, Uber, Luft, Doordash to name a few. It's amazing how often I have to come back to Chamath. He really is the biggest d*ick in town. All his companies, spce, clov, sofi, open are down 90%. He got out of them quick despite calling them a good long term host. I guess this post is just to ensure we as investors understand things we invest in. Let's not put our hard earned money just because a billionaire said so. I know some people personally who take people like Chamath very seriously and follow his advice to the T. This also goes for those who bought Tesla fsd in hopes of running a robotaxi someday. Have your own thesis folks. Spy and qqq ain't that bad! #investments
who is Chamath?
I think the next generation of VCs will be looking at solid business foundations as a basis for an investment. I can’t see this whole hype based investment fad coming back around anytime soon. Sometimes, boring but real is better.
VCs are already a step ahead of you. Most of them have openly started siding with Republicans or against democrats. Basically corporate welfare will be alive in America.
Sounds exactly like what everyone said after the dot-com bust, and we all know how that turned out. Even if VCs learned from their own mistakes, it's not like they made one. They got rich, didn't they? Why not just start the whole speculative bubble cycle over again at the very next opportunity? Worked out fine for them.
This downturn will be about ads revenue. Who still click on highlighted sponsored results & actually bought something
Tons of people... That's why Apple wants that market.
When was the last time you clicked on the Ads on IG/FB and actually bought something?
Chamath did say get the money. Was pretty clear he's in it for his money not yours.
Yeah, when it’s time to choose between themselves and you, billionaires are going to help themselves first. They pump and dump, while retail investors are the bag holders.
So much for being rational investors
Most of Silicon Valley is hustlers and snake oil salesmen. It’s basically fraud and ideas bankruptcy all the way down. I was saying this in 2021 and people were calling me mad.
That’s why we call it Silly Con Valley!
Chamath has always been a slimy bastard. Boz gives me the same vibes.
Reddit, scroll above to see a bunch of comments
Woot
Yes fuck Chamath!!!
Chamath is like the most blatant rat that has infested a house. He really showcases how broken the system really is. But it's not him alone. The entire breed of VCs are like that. I think tech should look for better ways to raise capital. Most VCs have no technical expertise. They pride in being good at managing money. Well managing money ain't that difficult if interest on borrowed money is almost 0 for a decade! It really is all about dumping money on companies like Uber until it kills all the competition. That is the only selling point of most IPOed startups these days. Their core product isn't THAT tech savvy imo.
Uber is so … overrated for its potential , it is just a taxi company on mobile app rather telephone… (yes, LinkedIn is just a job broker on the web)