this post was submitted on 02 Jul 2023
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The actual start-ups never need to profit. The VCs invest early when they are worthless, hype the shit out of them, and liquidate their positions at IPO time to start the cycle anew. A bunch of suckers get left holding newly minted overvalued stock in doomed companies.
Yea, sounds right. Or as the imminent humanities scholar and Chicago saloon owner, Michael Cassius McDonald once put it, "...There's a sucker born every minute."