👶Indeed, while the VC/entrepreneur dynamic is a young one, 43% of all US firms founded since 1979 were back ed by venture, and these firms account for 82% of all the R&D spending of that post-1979 cohort. VCs + entrepreneurs = faster growing companies, investing more heavily in R&D. Excellent Stanford report.
The emphasis on growth and jam tomorrow, and the increasingly availability of private capital, can create bad behaviours among notionally-hot startups. VC Fred Wilson identifies that many of these corporations are guilty of negative gross margins as they try to capture market share
. In other words, they are fundamentally unsustainable. Great read.
There is too much to say on this subject in a short post, and there are many questions to ask about these youthful, fast-growing countries and the dimensions of their behaviour.
😦An example, is the rise of quantifying worker behaviour through tracking, as explored in this academic paper
. Quantified “workers have internalized the imperative to perform, a subjectification process as we become observing, entrepreneurial subjects and observed, objectified labouring bodies.” Will quantified workers be further subordinated to capitalism at the cost of their own well being? Highly recommended