One thing missing from the &#x27;startups create value&#x27; argument is that some startups don&#x27;t create much new value but simply absorb value from elsewhere by providing a more efficient lower friction way of doing something that was done in a different way before. Before I&#x27;m misunderstood, I&#x27;m not arguing  that it&#x27;s a negative result in the grand scheme, but it helps to be aware that this can actually lead to greater inequality if many people lose their jobs to a startup that only requires a handful of people to run it, where previously thousands were required.