“The VC approach is the prevailing model today. And I have become increasingly convinced that many of the problems with the current state of Silicon Valley are rooted in the venture capital-class simply acquiring too much capital. VC is fine (*good*, even!) when it is relatively small. But when VC is the primary source of funding new science and technology breakthroughs, the whole system gets skewed.

As it stands today, the primary direction-setter for new advances in science and technology is “what do folks like Marc Andreessen and Peter Thiel and Gary Tan and Sam Altman find exciting?”

— Dave Karpf, On Giant Piles of Cash And Their Origins

https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their

Original: https://toots.dgplug.org/@jason/112301527834581763