I found you via Rudy. Your post is one of the most rational, lucid takes on the SVB collapse I’ve seen. I spent my career in SV including being an early employee at several startups. While I can empathize with employees who will lose their jobs (I once quit a perfectly good job at a small, stable, publicly traded software company to join…
I found you via Rudy. Your post is one of the most rational, lucid takes on the SVB collapse I’ve seen. I spent my career in SV including being an early employee at several startups. While I can empathize with employees who will lose their jobs (I once quit a perfectly good job at a small, stable, publicly traded software company to join a startup, only to lose my job 2 months later when the company shut down), that is no reason for taxpayers to bail these companies out. It’s well known on Sand Hill Road that 90% of venture backed companies fail. A good purge is needed in tech. This is no different from the purge that happened with the collapse of dotcom. I had a front row seat through all of it. And lost my job as well. It sucked, but I did find another eventually through my network. Good people and good companies will survive this. Oh, and not a single company asked for a bailout, and over indulged billionaires did not go on TV and whine as proxies for VCs.
I was in tech in the SV during the dot com boom. There was a lot of churn back then and there were failures but people seemed to suck it up better than in the current environment. I haven’t been part of that world in a long time so I’m on the outside looking in when it comes to my impressions.
I found you via Rudy. Your post is one of the most rational, lucid takes on the SVB collapse I’ve seen. I spent my career in SV including being an early employee at several startups. While I can empathize with employees who will lose their jobs (I once quit a perfectly good job at a small, stable, publicly traded software company to join a startup, only to lose my job 2 months later when the company shut down), that is no reason for taxpayers to bail these companies out. It’s well known on Sand Hill Road that 90% of venture backed companies fail. A good purge is needed in tech. This is no different from the purge that happened with the collapse of dotcom. I had a front row seat through all of it. And lost my job as well. It sucked, but I did find another eventually through my network. Good people and good companies will survive this. Oh, and not a single company asked for a bailout, and over indulged billionaires did not go on TV and whine as proxies for VCs.
I was in tech in the SV during the dot com boom. There was a lot of churn back then and there were failures but people seemed to suck it up better than in the current environment. I haven’t been part of that world in a long time so I’m on the outside looking in when it comes to my impressions.
It’s very different now. That’s why I bailed. Too much entitlement and whining, and very little innovation.