Why We Can't Build
There is definitely a problem with funding which is harmful for value creators.<p>Funding which is not optimally allocated is much worse than no funding at all.<p>Imagine if there are two people:<p>- PersonA who has the potential to produce a lot of value but is useless when it comes to pitching ideas to investors because they spend all their effort thinking about how to solve problems.<p>- PersonB who is useless at creating value but is really good at selling empty ideas to investors because they spend all of their effort thinking about their pitching techniques.<p>In our economy, PersonB will beat PersonA every single time. What this means is that PersonA cannot get any funding at all and they end up being forced to work as an employee of PersonB who doesn&#x27;t know what the heck they&#x27;re doing because the only thing they are good at is attracting investors and telling them what they want to hear.<p>In reality, it would be more efficient to let PersonA get all the funding and put PersonB on welfare (because PersonA would be smart enough to not hire them). As good as PersonB is at talking and convincing people to give them money, the reality is that they are less than useless for the economy. Unfortunately, we cannot BS our way to a stronger economy.<p>If you watch some interviews by Masayoshi Son of Softbank, you will understand this. The guy is a genius at convincing people of the most fanciful, outlandish ideas - But he added no net value... He just distributed the funding he received to other snake oil salesmen like himself. The biggest VC in the world didn&#x27;t know what the heck he was doing and was giving money to other people who also didn&#x27;t know what the heck they were doing.<p>I think it would be better if the activity of investing or loaning money would be made illegal. People should just get rich and retire; let the next person have a go.<p>Getting rich and not retiring is immoral IMO. These people have every tool necessary to enjoy the rest of their lives but they prefer to stay in control and dedicate their entire careers to preventing other people from getting the same opportunities as they got.<p>Because of them, our entire economy is now founded on the arbitrary top-down picking of winners instead of bottom-up value creation.