> If you just look at the success stories, you could say that today's VC model works great too
Well, thing is actually it is kind of horrible. You are basically handing the choice of what to develop where - something that is actually kind of important to society in general in the hands of unelected rich farts that look into making more money. Doesn't help when many of those farts have specific views and projects of society in the future as a technofascist hellscape.
And you could argue the vast majority of what the VC model has given us is scam and services that are very ethically dubious, surveil everyone everywhere, try to squeeze as much money/value out of people, without actually solving many real problems. There is also the thing that the very model is antitethical to solving problems - solving problems costs money, and doesnt bring anything back. Its inherently unprofitable, so any solution is doomed to become more and more enshitified.
Well, thing is actually it is kind of horrible. You are basically handing the choice of what to develop where - something that is actually kind of important to society in general in the hands of unelected rich farts that look into making more money. Doesn't help when many of those farts have specific views and projects of society in the future as a technofascist hellscape.
And you could argue the vast majority of what the VC model has given us is scam and services that are very ethically dubious, surveil everyone everywhere, try to squeeze as much money/value out of people, without actually solving many real problems. There is also the thing that the very model is antitethical to solving problems - solving problems costs money, and doesnt bring anything back. Its inherently unprofitable, so any solution is doomed to become more and more enshitified.