EmbeddingGemma 2: an open, lightweight multimodal embedding model
deepmind.google·6d ago
AI Engineering
Hacker News·Sep 3·5 min read
VC isn't VC anymore – understanding the rise of Cancer Capital
TL;DR
Venture capital has shifted from supporting innovation to being dominated by a few billionaires pushing personal agendas, undermining accountability and market integrity.
✦ Why It Matters
Evaluate your funding sources and ensure they align with your values and innovation goals.
Key Takeaways
- Understand the shift from traditional VC to Cancer Capital dynamics.
- Recognize the influence of powerful firms on startup funding.
- Be aware of how public funds are used in venture capital.
- Support startups that align with ethical innovation practices.
Full Summary
Venture capital (VC) was originally intended as a small, high-risk funding source for startups, but it has evolved into a dominant force in the capital market, often driven by a few billionaire investors with extreme agendas. These 'Cancer Capital' firms have merged VC with private equity, accumulating vast wealth while evading accountability.
As a result, the balance of power has shifted from founders to these firms, which now dictate terms and push political agendas. New entrepreneurs remain unaware of this shift, often finding their innovations co-opted for these firms' goals.
Additionally, public pension funds increasingly back these firms, exposing everyday investors to risks without their consent. This transformation has led to a toxic environment where the original purpose of VC—to foster innovation—has been overshadowed by a focus on consolidating power and wealth.