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What are some modern bullshit jobs?
(lemmy.world)
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this post was submitted on 19 Oct 2023
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That depends most startups are shit and fail but they still are useful. But the idea is VCs will just fund thousands of startups in hopes one is a unicorn and actually has a product worth selling.
But the founder is expected to use capital they don't have to fund the business until it is attractive to people with capital. They are expected to market the product without marketing experience. They are expected to negotiate with people who are negotiating from a position of strength and who has much more experience. They are expected to be personally attractive to get interest from VCs. After they have gotten traction they are expected to be "coachable" and follow the advice of advisors that up until now have not been involved in the growth of the company.
The ecosystem is broken. Founders rarely get funding and when they do they end up losing most of the business they built. VCs are getting very few positive results.
If big VC firms were losing money in terms of net total they wouldn't exist. Albeit most of them define success as being acquired by a big company like Google. As for independent VCs most of them are probably wasting heaps of money and just following the hype.