$230 million could’ve founded 500 different startups
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I don’t understand this. The device you mentioned is from a startup. So this is an exact example that 230m cannot found 500 different startups. How do you know that the 500 startups you funded won’t give an even worse device for more than 230m?
Actually the point of startup is to waste a lot of money. This is the reason of the system. The purpose is to use a lot of money to find that single tillion dollar opportunity.
Real innovation is very very hard in a “strictly correct” system, since in most cases real innovation is very hard to be identified when no one understands. Therefore VCs are willing to spend money on those who they don’t understand but seems cool since maybe this is the one that goes to the future.
$230 million could’ve founded 500 different startups
--------------------------------------
I don’t understand this. The device you mentioned is from a startup. So this is an exact example that 230m cannot found 500 different startups. How do you know that the 500 startups you funded won’t give an even worse device for more than 230m?
Actually the point of startup is to waste a lot of money. This is the reason of the system. The purpose is to use a lot of money to find that single tillion dollar opportunity.
Real innovation is very very hard in a “strictly correct” system, since in most cases real innovation is very hard to be identified when no one understands. Therefore VCs are willing to spend money on those who they don’t understand but seems cool since maybe this is the one that goes to the future.