While I would love to end this with a condemnation of venture capitalists and hedge fund managers, I think it’s important to point out that many of us are complicit. Fund managers seeking the best short-term profits for their investments run funds whose shareholders include most of us. When we log in and look at our IRA or 401(k) accounts, we look for how much the value has increased, not what makes the most sense for society. Our account balance looks a little nicer when a company lays off 10,000 employees and the stock price increases.
It’s all entwined. To paraphrase Michael Corleone – “We’re all part of the same hypocrisy.”