And even more so profit from the operating company is not a goal. It is profit from market valuation of the company. Which when you really think about obviously only can lead to some sort of failure or catastrophe.
Ofc, HN with VC funded companies love this model. Generate "wealth" from essentially imagination. Throw more money in and number goes up, end goal find someone to dump whole thing on. Be it public or some established company that found extractive niche.
I find lot less wrong in traditional capitalism. Start making something, sell it for profit, build a factory to sell more. Then use proceeds and possibly loans to build bigger factory. Rinse and repeat. At least you are generating possibly something useful for eveyone and getting money as part of process is not unreasonable.
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And even more so profit from the operating company is not a goal. It is profit from market valuation of the company. Which when you really think about obviously only can lead to some sort of failure or catastrophe.
Ofc, HN with VC funded companies love this model. Generate "wealth" from essentially imagination. Throw more money in and number goes up, end goal find someone to dump whole thing on. Be it public or some established company that found extractive niche.
I find lot less wrong in traditional capitalism. Start making something, sell it for profit, build a factory to sell more. Then use proceeds and possibly loans to build bigger factory. Rinse and repeat. At least you are generating possibly something useful for eveyone and getting money as part of process is not unreasonable.