The tone of this article makes me nervous. It became clear to me why, when I got to this:
Talent selection in the hands of too few is one sort of problem, but financial engineering concentrated in the hands of too few, especially those who think of themselves as smart, is really, really dangerous.
No, it's really not dangerous. Dangerous is something that can deprive people of their life or property without them choosing to take on that risk; it's normally something the government is supposed to prevent. The markets are designed for investors to take risks, and overall, it's a great system; it's the opposite of dangerous.
(In fact, if people supposedly having knowledge about venture capital start shouting about how "dangerous" it is, that's only going to increase the amount of government regulation, which is a lose-lose for everyone involved in venture capital or startups.)
The whole article takes on sort of an end-of-the-world gloomy tone. Y Combinator just doesn't have that big of an impact. If Y Combinator were to disappear tomorrow, things would keep on going, at least just as well as they were before Y Combinator was brought into existence.
Talent selection in the hands of too few is one sort of problem, but financial engineering concentrated in the hands of too few, especially those who think of themselves as smart, is really, really dangerous.
No, it's really not dangerous. Dangerous is something that can deprive people of their life or property without them choosing to take on that risk; it's normally something the government is supposed to prevent. The markets are designed for investors to take risks, and overall, it's a great system; it's the opposite of dangerous.
(In fact, if people supposedly having knowledge about venture capital start shouting about how "dangerous" it is, that's only going to increase the amount of government regulation, which is a lose-lose for everyone involved in venture capital or startups.)
The whole article takes on sort of an end-of-the-world gloomy tone. Y Combinator just doesn't have that big of an impact. If Y Combinator were to disappear tomorrow, things would keep on going, at least just as well as they were before Y Combinator was brought into existence.