> the absolutely batshit advice and business building strategy that comes out of the world of venture capital and tech accelerators
If the floor comes out (e.g. capital dries up), then tech founders will find themselves in "the emperor has no clothes" situations. The potential externalities of this are varied:
- A younger entrepreneurial business demographic who build initially unprofitable businesses based on venture capital and can no longer start businesses because there's no capital
- Entrepreneurs resorting to fraud (see -> Theranos, Hampton Creek, etc)
If the floor comes out (e.g. capital dries up), then tech founders will find themselves in "the emperor has no clothes" situations. The potential externalities of this are varied:
- A younger entrepreneurial business demographic who build initially unprofitable businesses based on venture capital and can no longer start businesses because there's no capital
- Entrepreneurs resorting to fraud (see -> Theranos, Hampton Creek, etc)
- Mental health issues, broken families, etc for people "crushing it" and realizing they're left with nothing 7 years later (see -> https://twitter.com/dhh/status/869361585613139968 )
- Fatigued investing community who no longer deploy capital because cap tables are screwed up