American - Journalist | December 29, 1975 -
The best entrepreneurs know when to ignore sage advice.
Sarah Lacy
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A lot of Americans desperately want to believe that China is full of poor people who can't innovate, and the only goods they make are cheap, toxic rip-offs our Western brands. They want to believe the only reason the Chinese economy is surging is because the West wants cheap goods and China knows how to make them that way.
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As I've written before, China's ability to be the assembly line to the world wasn't where its role in the global economy ended; it was where it began. An ability to make products cheaper than anywhere else gave way to an ability to make high end products more nimbly than anywhere else.
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Benefitting from a job bubble is not only a first world problem, it's an upper-class-educated-lucky-to-be-in-the-right-industry-at-the-right-time kind of first world problem.
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Like patents - which also seek to protect the little guy - unions were started for all the right reasons. But like patents, they can be twisted into something that hurts innovation, competition, and ultimately consumers and the country as a whole.
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Unions inherently create an 'us versus them' dynamic that makes winning against a company's management the top goal, not serving customers, innovating, or in the case of education, teaching kids.
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I've been reading a lot about Silicon Valley history recently and was struck by just how core the lack of unions has been to the American tech industry's evolution. It's enabled the constant creative destruction that keeps Silicon Valley relevant and thriving in a rapidly changing world.
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Dying venture firms are like the walking dead. They can have years of staggering around with stakes in still active portfolio companies, hoping they're still holding a lottery ticket that could put them back in the game. If not, they just slowly wind down.
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Get a lawyer to look at your contract or beware. Because no company - evil or not - is going to do it for you.
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It's almost a cliche that great Silicon Valley entrepreneurs don't go sit on a beach when they make a lot of money; they get back to work building another company or at least investing in other people's companies.
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I am a huge fan of using social media to connect with people because I think there was this 'ivory tower' aspect of journalism where people might read a byline for years but have no idea about the person who was behind it and never get to communicate with them or ask them a question.
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When a PR person asks why is it a big deal that they got your name wrong or sent you a pitch on something you would never cover, it's because when you get hundreds of those a day, it's incredibly annoying. It's basically like having telemarketers call you all day long for something you never want to buy.
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