I love tech news and want to learn and know new technology every single day. It's a fast moving world we live in where the valuation of the companies are decided on SecondMarket, rather than Stock Market, where a year old company or even a month old companies attracts millions from Venture Capitalist. It's a world where the "virtual idea" is more relevant then the real product. It does feel that every single person in Silicon Valley is either a blogger or an entrepreneur and is the wannabe next "Zuckerberg" or "Google". It's a world where "Links" and "Likes" are more important than money and gives instant gratification. It's a world where the most hotly debated subject is - Which is a better mobile operation system - Apple or Android? It's a world where the complaints of not having a 8 MP camera on a mobile phone - shooting 720P is considered below par if the camera doesn't do auto-focus. It's a world where even after the biggest "robbery" ever to take place by the bankers, wall street, corporations, lawmakers and politicians in 2007-2008 resulted in almost no arrests. Without getting in to semantics of how, why and when, I have to profess - I don't know how this technological innovation would impact in 2-5 years time-frame and it's impact on global life-style.
Greed of Shareholders
When I pay monthly check towards my medical insurance, it pains me to see my money being donated -- which definitely helps the corporations. My insurance provider had 33% YOY increase in net profit and a bonus in tune of $23 million to the CEO. Most importantly, the stock is up almost 20% making stock holders happy.
So how do they reward me -- their customer for loyalty? By increasing my insurance by 12% this year!
I call it Greed of Shareholders. I have no other reason for that.
Now the Title of the blog doesn't make sense to what I have written so far - but reading technology news, does make me wonder of a "Bubble" brewing up. It reminds me of a movie that hit theaters more than 25 years back. Wall Street.
I was recollecting some Quotes from the movie which are so relevant even in today's time.
"The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it."
"The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA"
And it all ties together
The point is - There are this angel investors ready to invest in 8-10 ideas at a time, thinking that at least 1 or two will stick to the wall and if lucky, one will hit a jackpot. When I see a job site, I see hundreds of jobs in bay area looking for developers -- to work 20 hours a day 7 days a week with a promise of early retirement by 35-40 years with a house, boat and booze.
So what happens to the rest 6 failed ideas and the people working on it? For VCs, they don't give a shit -- it's a government problem with unemployment.
It's a different world we live in today where the mantra is "Greed, for lack of better word, is good".