>"I suppose we should all be glad that some VCs were able hit a jackpot so soon, this is just what provides incentives for other VCs to keep investing in tech startups."
If I said:
I suppose we should all be glad that some mortgage brokers were able to hit the jackpot so soon, this is just what provides incentives for other mortgage brokers to keep pushing home loans on people.
I'd be lynched.
I agree it's a dog-eat-dog world, and that investors have to know what they are getting into when this stuff goes public. But the fact that VCs are pumping this crap up then dumping it on the public (who end up taking a bath) is not a positive development. It sucks, because for every Zynga (or pets.com, or webvan) there are 5 great companies that these VCs are supporting. But how can the public continue to trust this system? Fool me once...
If I said: I suppose we should all be glad that some mortgage brokers were able to hit the jackpot so soon, this is just what provides incentives for other mortgage brokers to keep pushing home loans on people.
I'd be lynched.
I agree it's a dog-eat-dog world, and that investors have to know what they are getting into when this stuff goes public. But the fact that VCs are pumping this crap up then dumping it on the public (who end up taking a bath) is not a positive development. It sucks, because for every Zynga (or pets.com, or webvan) there are 5 great companies that these VCs are supporting. But how can the public continue to trust this system? Fool me once...