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Hey tech billionaires, if you want to talk about radical change, let’s abolish venture capitalism (www.theguardian.com)

submitted 1 year ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 3 points 1 year ago (1 children)

Without VCs, many of those homeruns would never be able to get off the ground and the US economy would be significantly less dynamic

Um if we instead taxed those VCs setup a government fund and grant program instead you would have greater innovation, more equitable access and a better solution. VCs siphon IP and manage where wealth can be consolidated, it's a pretty basic concept.

[–] [email protected] 4 points 1 year ago

I believe we already do this to some extent. There are government funded grants for all kinds of things. I guess you just want more of that? I think you have to be careful, because that starts to look like the government picking a lot of winners and losers in private industry. Ripe for misallocation of resources.