> As an aside, I’ll never understand why people get so upset for rich people making bad bets and losing a bunch of money.
Me neither. Sometimes people get upset that the pensions of teachers and firemen are being spent on subsidizing growth of meal delivery and transportation in San Francisco.
Actually I live in a state that has spent a bunch of taxpayer money on a alt-coin currency based company that recently had an ICO.
p.s. I really don't care if someone wants to make a new food delivery/taskrabbit/uber/dropbox. I wish them luck! I just don't particularly like that little old ladies on fixed incomes are essentially forced to participate in that.
Venture Capital overall is a tiiiiny part of an investment portfolio. Compared to other amounts of capital allocation it’s pretty much a rounding error, and Juicero is a tiny piece of any portfolio.
The funds investing in Juicero and losing will have other 100x wins that will make them not worry about Juicero.
That’s why Silicon Valley works. It’s 1x wrong often, but occasionally 100x right.
>the pensions of teachers and firemen are being spent on subsidizing growth of meal delivery and transportation
I don't argue against your sentiment, but you could have picked a better example, or be more precise.
Services like public transport and food delivery benefit poor people the most (where in "food delivery", I include "grocery delivery", and by "transportation", I understand "public transport"). Building an infrastructure for people to live without cars is a good thing.
I say that as someone who could not afford a car, and depended on buses and online grocery shopping back in 2005 in NY.
> I just don't particularly like that little old ladies on fixed incomes are essentially forced to participate in that.
Pension funds are only allowed to invest a tiny percentage of their funds into alternative asset classes like venture. And even then LPs spread their investments out over several funds.
These types of investors are largely intermediaries and their role can be automated away with technology and good financial education in high school / community colleges.
Me neither. Sometimes people get upset that the pensions of teachers and firemen are being spent on subsidizing growth of meal delivery and transportation in San Francisco.
Actually I live in a state that has spent a bunch of taxpayer money on a alt-coin currency based company that recently had an ICO.
p.s. I really don't care if someone wants to make a new food delivery/taskrabbit/uber/dropbox. I wish them luck! I just don't particularly like that little old ladies on fixed incomes are essentially forced to participate in that.