Interesting, nicely-opinionated article: An Engineer’s View of Venture Capitalists. But it has fallacious statements such as: “VCs don’t appreciate that the electronics revolution is built on the backs and brains of engineers, not of executives. … The engineers are the creators of wealth; the VCs are the beneficiaries.” This of course ignores the fundamental nature of capitalism as being driven by entrepreneurs and capitalists. The wealth is created by joint activity of workers and capitalist-entrepreneurs and, one could argue, primarily by the latter, but in any event their role can’t be denied, and so a statement implying that the engineers alone “create” the wealth is flawed. As is a statement such as “The engineers building the future deserve a fair equity share in the value they create; today they don’t get one.” Of course they do; what’s fair is what happens on a free market. Fairness is defined by process not result. But an interesting piece nonetheless.
