Is There Too Much Venture Capital?

[Stephen E Philion]

not that I mean to play into the capitalist divide and rule strategy, so
don't take this following comment to heart, but I would say, these
companies are  taking all this extra capital...and spending it on your 
overpriced labor and my underpriced labor...(adjunct university
instructor...)

Then again, Hobbes put it so well, one's value is what they can get!...who
am I to complain...

Steve

On Sat, 11 Dec 1999, James Baird wrote:


> Working out here in the belly of the Sillycon Valley beast, I've been
> wondering recently if part of the continued strength of the economy could be
> due to a sort of "IPO Keynesianism".  Most of the Internet companies I see
> out here not only have no chance of ever making any money, but no remotely
> rational person could ever believe they will.  And yet they're taking all
> this extra capital sloshing around the markets and spending it on my
> ridiculously overpriced labor, on TV ads, on construction, etc.  Wasn't
> Keynes's perscription large amounts of investment with no productive outcome
> ("hiring one set of men to dig holes, and another to fill them in")?   I'm
> not entirely sure I'm joking about this...
> 
> Jim Baird
> 
> 
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