It says a lot when public services are deteriorating pretty much everywhere while investors blow hundred millions on fruit pressing machines and LLM wrappers
Democracy isn't just about showing up every few years and putting a name in a ballot, it's a framework that requires a whole bunch of other things. A lot of EU countries and the US are getting closer and closer to oligarchies
How are UK citizens voting for deteriorating services?
- Voting Tory, you get cutting of public health services (e.g NHS) and and Brexit.
- Voting Reform, you get the same plus a healthy dose of xenophobia and nationalism (it's thinly veiled-fascism, really).
- Voting Labour, you get the same cuts but with a nice label of "progress", so you can feel good about yourself. All the while flat prices are skyrocketing and your doctor's appointment might not ever happen, but there is always money for militarizing police and for sending abroad some bombs to kill Palestinians.
If people did want improved public services, they should have voted for somebody like Jeremy Corbyn, who had the decency to distance himself from the absolute disgrace that Labour has become, or at least for the Greens/Socialists. But people did not, in fact, want improved public services, not really.
They preferred to either vote for the xenophobe thugs of Reform, the xenophobe elitist Tories, or the pretend-liberal oligarch/capital-loving "Labour", none of who have any incentives to improve public services. You get what you vote for.
But, that aside, since I’m just getting into the Lean Startup:
In chapter 12—startups typically need Scarce but Secure Resources:
“too much budget is as harmful as too little—as countless dot-com failures can attest—…”
I suppose this falls under case-and-point. They had too much money and blurring the lines between real customers and early adopters. This whole thing could have probably been figured out for a couple mil I’d imagine (though I’m no expert).
Have a look at lot of founders on linkedin. You'll notice a lot go to the same small set of universities, or worked for same companies. Then there's the odd exception. But they're the exception.
Its silly to think talent is actually that concentrated.
I think everybody knows why some people can get investment to literally throw down the drain on insane moon shots, while others struggle to even survive. I'm sure lots of people have moonshot ideas that might work. Only a very small in group get investment.
If there’s a good growth story contact people who write smaller checks who would also be interested in using the product.
Ultimately the business of VC means that you're dealing with people how have a high risk tolerance but need the potential high payout to balance their risk.
If you have a sustainable, profitable, but small business that needs capital to expand, but likely won't grow significantly, you're better off talking to a family office or individual investors. I'd avoid banks if you can help it.
If you actually do think you have a plausible VC investment then it's a game of networking. Go through every person you know and look for someone who knows someone who can give you an introduction. If all else fails there's cold outreach but those can be difficult. You might need to bring on a partner who can handle that side of things if it's critical to your business.