Looks familiar somehow

Hugo Gernsback imagined this in 1936, and thought the world was ready in 1960……

It didn’t sell in 1936,  it didn’t sell in 1960, it didn’t sell in 1980, and it doesn’t sell now. Only stupid venture capitalists think this is a worthy idea.

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I can’t figure out VCs. There’s nothing new about investing in a losing business. Corporations have always bought losses to counterbalance profits in their real business, in order to zero out taxes. VCs don’t seem to be following this pattern. They don’t have a real business with profits to cancel out. Many of them are managing money for retail investors, who are simply desiring a yield, not trying to lose. For this purpose the target startup should have a goal that makes sense, a business model with a history of gain. The big startups in recent years have no business model and no chance of success.

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