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this post was submitted on 02 Oct 2024
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VC funding is basically gambling, trying to find the next billion dollar company. So they throw money at anything that has any semblance of traction to get in early and cash out when the time comes.
Which is the exact same behavior that caused the dot com bubble. VC funding was throwing money at any and every dot com business, in the hopes that it would explode and lead to profits.
All it did was massively overvalue the dot com companies, which caused a bubble when people finally realized they were overvalued and VC investors turned off the spigot of free money.