RE: When Money Is Cheap Idiots Become Entrepreneurs
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I am not surprised about dumb ideas getting funded. I believe it was like 90% of start ups fail and it can either because the idea is bad or the people running the project just don't know how to run a business.
In a way, I don't think its the start-ups that are the problem but the zombie corporations. They are only sucking in money without really having a positive influence on the economy.
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They are by no means the only problem but they are a massive problem because they reduce barrier to entry for ideas, gobble up capital and human resources to be wasted on shit, they are effectively zombie companies too. they also discourage potential entrepreneurs since funding isn't based on merit but nepotism.
It's a bigger problem than we think, but since its all kept in the shadows you don't see how bad it is, many of these business models aren't based on profit but profiting from the fact that if they remain open long enough the inflation rate will erode their debts while they go after a large enough market, consolidating as they go and killing profitable businesses in the process
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