The Remarkable Incompetence at the Heart of Tech

wheresyoured.at

15 points·vermilingua··5 comments

I really liked this article but think it should have mentioned "round tipping" which is the favorite type of fraud from tech companies. YCombinator is an example of this and it's why most of their companies can fail spectacularly. It's where you have companies selling "an unused asset to another company, while at the same time agreeing to buy back the same or similar assets at about the same price."

https://en.m.wikipedia.org/wiki/Round-tripping_(finance)

The article is about incompetence. Incompetence while doing a fraud gets you sent to prison.

s/gets you/gets mere morals, but not those who bought or are corrupt politicians/

With less corruption, the shorter form would be almost universally true. Corruption exists on a continuum and some countries are currently experiencing crisis levels of it.

Well it's a bit of rant ... but I regret to say it's a rant I could see myself making.

I really identified with (paraphrasing) unless you work at the top %1 you will are in for a serious bout of confusion.

To give you an idea I once uttered this line after a meeting:

"This is the most disorienting place I've ever worked at. I feel like I was taken at gunpoint and made to act in the French absurdist play Waiting for Godot"

Tech went all in on peddling ever more expensive hardware and software. It has been incredibly lucrative but it has destroyed our collective ability to distinguish any signal in this space.

It's all noise now and it shows.

Reply on news.ycombinator.com