So in other words, tens of thousands of Silicon Valley tech employees at companies that took investment or could be bought out by a company that took investment from a fund that took investment from anything related to Saudi money stand to lose a trenemdous amount because the Saudis murdered someone? Yeah, sounds like those employees should definitely pay the price for something they had nothing to do with.
Can it really be called "paying the price" or "taking a loss" if tech employees are losing ephemeral wealth which was dependent for its existence on the continued good behavior of a feudal autocrat halfway around the world? Just because a company reaches a certain valuation thanks to an infusion of dumb Saudi money doesn't entitle it or its employees to that valuation in perpetuity. Perhaps that valuation is the mistake, now in the process of being corrected.
I don't understand your post. Why should they be isolated from the effects of what happens in the real world? It's unfortunate for them, of course, but in every situation ever things that happen have knock on effects that you can't control.
That happens to basically everyone who doesn't have enough power to be responsible for everything that happens to them. A factory worker losing his job due to the company going under isn't his fault. The CEO losing his job is responsible for failing to keep up or pivot. Camera crews lose their job after the star goes on a racist tirade. The star however totally deserved it.
The world isn't inherently just - we need to build our own systems to change or mitigate them if we want it.
So you’re saying you looked at all of the LPs of every fund and then every LP of those LPs (and so on) when you took your current and past positions and are sure you’ve never been paid a dirty dollar in the past? And you will do so in the future and would decline offers from companies that had “compromised” investors?
Isn't it borderline popular nowadays to turn down Facebook, despite what they can offer you? Or to quit at Amazon/Microsoft if your tools are, say, helping ICE detain children or track peaceful protesters?
We've all had a BIG wakeup call about these tech gigs, and we're slowly building the conscience to match. Slowly.
Yes, that is basically what will happen. For those tech companies, it is live or die at this point. Assuming SA doesn't reverse course, it will mean for many companies they simply won't get more funding. It will be either start making money or seek out other forms of funding like maybe an IPO or something. Other VC firms will get flooded with companies to invest in and of course they will just go with whatever companies they feel are most worthwhile but going forward less companies will get the funding they need.
This is basically the "contractors on the Death Star" from Clerks. I feel a bit bad about their situation, but 1. There's no shortage of tech jobs, (and we've been talking about SV being a bubble for a decade or so now, why not have a plan for that case?) 2. People should be aware where their wages come from. If you know your money ultimately comes from crimes... maybe reconsider your job.
