What Bums Wedge and Me Out About the Tech Industry (Today)
But worse than the brogrammers, I think itâ€™s the â€˜entrepreneursâ€™ that bug me the most. The word feels so tainted now. A friend showed me a profile recently of a guy who claims to have started more than 100 successful companies during the span of a 20 year career or so. My guess is that his criteria for having â€˜startedâ€™ a company is forming a cohesive vision for a product for a few minutes before lunch. And of course this individual had about as much technology under his belt as Barney Fife. So not only did he not start and run these alleged successful companies, in the couple of months he wouldâ€™ve supposedly been with each of them, he wouldnâ€™t even have been able to build the products either.
â€” Wedge Martin – â€œWhat Bums Me Out About The Tech Industry (Today)â€
Innovation doesnâ€™t make back investments on Venture Capital. Flipping companies does. The Silicon Valley technology industry likes to talk a big game about innovation and disruption. One look at the current darlings of the Valleyâ€”mostly â€œsharing economyâ€ and â€œsocialâ€ appsâ€”proves that wrong. The barriers to entry are now so low to making an app or service, and the money flowing so freely, no wonder weâ€™re seeing fresh out of college brogrammers creating silly startups in the hopes of hockey stick growth and the big buyout.
The only thing that keeps me from wanting the bottom to fall out is the amount of money invested in the whole thing by innocents at the mercy of their pension fund investment boards.