The VCs are just as clueless. The internet is a series of 'tubes' to them. They read earnings reports and balance sheets, the product means very little in their decisions. I dabbled in investment banking and the product performance was the last thing we were focused on, it was $ driven at all points of the curve. Legal Ponzi schemes, not to put too fine a point on it. Earnings, earnings, earnings. If the earnings are not rising, it gets kicked to curb for an investment that climbing, with no regard for the product's long term potential for mankind.
Right. And the other half of scheme models is to present yourself as a company with extremely high morality, helping the underprivileged etc to cover up for the fact that you actually have NO product or service.
I've seen the client side of this. My friend works at a clueless business where they sign up with these ridiculous non-services over and over and over just because of what they "promise" and how the whole company appears so virtuous. I guess that's how these retarded models stay alive for a while until they fail and just start up again under a new name.
I've tried to get people I know to support businesses that actually provide quality tangible products/services, but no one seems to care about discerning such things.
The VCs are just as clueless. The internet is a series of 'tubes' to them. They read earnings reports and balance sheets, the product means very little in their decisions. I dabbled in investment banking and the product performance was the last thing we were focused on, it was $ driven at all points of the curve. Legal Ponzi schemes, not to put too fine a point on it. Earnings, earnings, earnings. If the earnings are not rising, it gets kicked to curb for an investment that climbing, with no regard for the product's long term potential for mankind.
Right. And the other half of scheme models is to present yourself as a company with extremely high morality, helping the underprivileged etc to cover up for the fact that you actually have NO product or service.
I've seen the client side of this. My friend works at a clueless business where they sign up with these ridiculous non-services over and over and over just because of what they "promise" and how the whole company appears so virtuous. I guess that's how these retarded models stay alive for a while until they fail and just start up again under a new name.
I've tried to get people I know to support businesses that actually provide quality tangible products/services, but no one seems to care about discerning such things.
They worship money, not God or Country, let alone the betterment of mankind.
Have a nice Thanksgiving and thanks for the chat! : )
Well put. Have a great Thanksgiving, fellow pede.