Molly WhiteReminiscing on when I pissed off venture capitalists with an offhand remark on Crypto Critics' Corner that VCs are not good for society with a new essay about the meltdown around Silicon Valley Bank: https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma
CrazyITGuy42@molly0xfff Very good! A lot of this goes back to the mid to late 1920's, with Milton Friedman and the Chicago School, and their idea that businesses should only answer to their shareholders:
https://en.wikipedia.org/wiki/Milton_Friedman
Freidman also assumed investors are rational (as we see, they are not).
Freidman also completely forgot about what happens when there is no regulation and the leaders take control - they ignored what happened during the Guilded Age (1870-1920s, IIRC). They failed U.S. History.
