The basic theme of this piece by Bronwen Clue is that investors are very naughty people for investing in start ups where everyone works hard.
This means that single women with children are disadvantaged in getting a job at a hot start up where they might make millions in stock.
But passion, in a startup context, turns out to be something a little more sinister than simply doing what you love. It’s a belief that if your startup isn’t your life, you will fail. Your startup comes before all else, including your personal relationships. Those with families? Please exit through the back door.
And Arrington warns, “there’s so much money in Silicon Valley now that a lot of non-like minded people have rolled in. Looking for easy stock options at a hot startup. They start whining when they realise that they have to give so much to make it all work.” So, robotic hive-minds need only apply. Arrrr.
Investors like to say they invest in people not ideas, but this doesn’t mean giving people money, it means giving young men money to prove how much they are committed to their idea by not properly compensating themselves.
Those who succeeded before are likely to succeed again in the areas that have proven successful. And so the crowd that seeks to replicate Zuckerberg with more young, white, privileged male founders continues unabated. For an industry that prides itself on innovation and “making a dent in the universe”, every time we let investors’ beliefs go unchallenged, we’re guaranteeing the future looks pretty much like the past. Except tomorrow’s winners are richer, younger and more privileged than the white men before them.
So I guess every start up must now pay nice upper middle class salaries, work only 35 hours a week and make sure that creche is fully staffed dammit!
Which is, I hear, how they do it in France. And there might be a reason why it’s Silicon Valley pumping out the new products, not Gay Paree.