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These people love “creative destruction” except when it’s happening to them.
by dysonpunk 4y ago
These people love “creative destruction” except when it’s happening to them.
- johnsimer 4y agoThis isn’t “creative” destruction though. Purely destructive destruction
- woodruffw 4y agoI, for one, feel my creative energy flowing while watching it.
- nostromo 4y agoNo, it’s the same. SVB made bad bets and mismanaged risk. These firms should fail to make room for better firms. And people that work with mismanaged firms will often take a loss, often via bankruptcy. Startups liked SVB because they would take risks big banks wouldn’t. Well risk comes at a cost. The government’s role here isn’t to make everyone whole. It’s to prevent contagion.
- bpiche 4y agoI think BruceS warned us all about this at south by about ten years ago [0]. Forget exactly where it happens in this talk but he basically tells the audience that if they want to live by disruption, they will die by disruption, and that they have built their castles on shifting sand. Great talk imho edit: this is actually a long now talk, will edit later if I find exactly the talk am looking for, but should be close [0] https://soundcloud.com/longnow/the-singularity-your-future-as-a-black-hole https://soundcloud.com/longnow/the-singularity-your-future-a...
- blibble 4y agothis entire event was triggered by startups (YC and others) starting a bankrun