Published September 24th, 2008
I don’t often write about politics, or anything related to it, on my journal.
This isn’t Capitalism.
If I didn’t believe in Capitalism, I wouldn’t be working at a startup.
If Joost fails, I don’t expect anyone to help me. I expect it to hurt. But it is my risk to take, why do giant financial companies, who have done apparently stupid things, get treated differently?
If Joost is successful, I expect rewards, and this is the basis of any capitalistic system, but these buyouts are creating a system in which stupid companies can do badly — and their employees still get rewarded.
I didn’t live during the Great Depression. I don’t know how bad it can get. I have lived an ‘easy’ life in modern America.
But I would rather see another depression than this massive buyout.
Whatever is going on, it is not capitalism, and I am sad to see America going in this direction.
Written by Paul Querna, CTO @ ScaleFT. @pquerna