> Let’s not pretend that YC and other VCs are noble.
I'm fine with that. Let them make money at the expense of big tech.
Breaking up big tech benefits financial/venture capital, but it also benefits labor capital as well. More opportunity for more startups to succeed, more competition for engineering talent, less market distorting wage collusion.
Big tech already won. It's benefactors already reap the benefits. Break them up and a new generation of engineers can grow wealthy on the field they contribute their labor to.
Right now the proceeds of tech go to hedge funds and pension funds. It's venture capital and entrepreneurs that take risks. They're the ones that should see upside. Unfortunately, big tech monopolies put a ceiling on this.
They do see upside - by being acquired by BigTech.
So if Google wasn’t a “monopoly” you think a startup could make a better search engine? Be more popular than Android - Microsoft tried both and failed because people prefer Google products. It wasn’t for the lack of money.
And engineers are getting wealthy - by working for BigTech. Even an entry level developer at BigTech makes more than 90% of workers.
Really? Making $250K a year for a mid level developer 3 years out of school is a “low bar”?
Google has created many more millionaires than YC. The only way that you could be a millionaire by investing in YC companies at IPO would be to be a multimillionaire and lose half your money.
I'm fine with that. Let them make money at the expense of big tech.
Breaking up big tech benefits financial/venture capital, but it also benefits labor capital as well. More opportunity for more startups to succeed, more competition for engineering talent, less market distorting wage collusion.
Big tech already won. It's benefactors already reap the benefits. Break them up and a new generation of engineers can grow wealthy on the field they contribute their labor to.
Right now the proceeds of tech go to hedge funds and pension funds. It's venture capital and entrepreneurs that take risks. They're the ones that should see upside. Unfortunately, big tech monopolies put a ceiling on this.