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Ian Betteridge (ianb@mastodon.well.com)'s status on Friday, 19-Jul-2024 20:41:03 JST Ian Betteridge

Great thread (as always) from Joan. One of the most obvious flaws in this generation of Rich Tech Guys is their hopeless overconfidence in their own knowledge and ability, and absolute reluctance to admit that they know nothing much about anything other than term sheets and multipliers. Plus of course, they *never* have to think macro simply because their aim isn't to create longterm successful businesses – it's to sell out at a good multiplier asap. https://mastodon.social/@Daojoan/112812829826680674
In conversation about 4 months ago from mastodon.well.com permalink
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  Joan Westenberg (@Daojoan@mastodon.social)
  
  from Joan Westenberg
  
  The current crop of VCs fancy themselves masters of the universe. They speak in a Substack fermented patois of CACs and LTVs, hockey stick growth and 10x returns. But far too many of these self-proclaimed startup wizards have only the faintest grasp on macroeconomic concepts.

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