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this post was submitted on 02 Jul 2023
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No Stupid Questions
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No such thing. Ask away!
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Interest rates went from almost zero to real rates. If you're sitting on a pile of money you can invest it in internet companies with crazy valuations and no profit or near zero-risk Treasury Bills and interest-bearing certificates.
Many investors know they are betting on the greater fool instead of any real value in these internet companies. There are now fewer greater fools.
If your business model was to give out free stuff paid for by piles of investor money, you suddenly had to find cash to keep the lights on.
Elon has to pay $1B in interest every year for Twitter. That's still a lot of money.
Elon being a cartoon villian gave other people cover to do the same. You're less likely to be singled out by the media.Your taking candy from a baby is just part of the trend or the run of bad luck falling on those poor billionaires.
Helps if you own that media, too.
Who knew that online spaces based in capitalism would be a bad idea??
Weird thing to say when VC investing outperforms the market by 2.5x (even with the current rates) on average but 🤷
Yes high returns. Average of 25‰ over 25 years.
But also, much higher risk with 75% of startups never shipping and 40% of those liquidating so VC investors lose all of their money.
So if you have 25 years, don't need the cash, and have a high tolerance for risk then VCs are for you.
But if you think you're going to need to cash out sooner than 25 years or need steady income then interest bearing instruments look a lot more attractive.
I don't know it must depend on the market, in Europe you'll generally get your money back in 7 to 10 years. And the very point of investing in a VC and not a singular company is that you flatten the risk and get your money back from the few companies who succeed. VCs are designed to bleed money looking for a moonshot but there's not that many that fail ALL their investments and can't show a 5% yearly for it.