When you say "it's time to incentivize," where would the incentive come from?
VCs should change? Fine, be the VC who only invests in ideas that have social impact. There are tons of VCs like that. They don't get a lot of LP money, but some are doing just fine.
Maybe the LPs should change? Fine, be the LP who doesn't invest in a VC who's investing in Snapchat. You can explain to your investment committee why you're missing out on returns, and when that means that a State pension fund can't pay teachers their pensions -- well there's a fair argument that better returns are good for everyone.
Maybe it's the consumer's fault? Maybe the consumer shouldn't enjoy Snapchat? The great thing is, you're free to not enjoy Snapchat.
Do you think it's the government's fault? Maybe they should prevent people from enjoying Snapchat, or incentivize something else?
I get it: you think there should be financial incentives from the government? Is that it? Tax money to go to the "right kind" of startups, the ones that would get praise on HN from Serious Engineers?
Well, that sounds to me like "we can't get people to voluntarily invest in these ideas, so let's coerce the public into being LPs in risky ventures that weren't good enough for private markets." And, so: no thanks, I'm good.
VCs should change? Fine, be the VC who only invests in ideas that have social impact. There are tons of VCs like that. They don't get a lot of LP money, but some are doing just fine.
Maybe the LPs should change? Fine, be the LP who doesn't invest in a VC who's investing in Snapchat. You can explain to your investment committee why you're missing out on returns, and when that means that a State pension fund can't pay teachers their pensions -- well there's a fair argument that better returns are good for everyone.
Maybe it's the consumer's fault? Maybe the consumer shouldn't enjoy Snapchat? The great thing is, you're free to not enjoy Snapchat.
Do you think it's the government's fault? Maybe they should prevent people from enjoying Snapchat, or incentivize something else?
I get it: you think there should be financial incentives from the government? Is that it? Tax money to go to the "right kind" of startups, the ones that would get praise on HN from Serious Engineers?
Well, that sounds to me like "we can't get people to voluntarily invest in these ideas, so let's coerce the public into being LPs in risky ventures that weren't good enough for private markets." And, so: no thanks, I'm good.