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That’s the funny part of the tech industry’s narrative about itself. For tech, failure is always assumed to be temporary; for everyone else, it’s terminal. Taxicab companies are going out of business because they’re losing money? Creative destruction, my friend – sink or swim. Uber hemorrhages cash…

The reason is what one VC calls “the repeat business effect”. Sure, a 24-year-old can run his company into the ground – but he’s still a 24-year-old, with time and energy for another startup, and then another. And any one of those could pan out and make everybody fantastically rich. It is, as one f…

[...] The term "lifestyle business," he points out - meaning a business that is designed to keep its owners fed and happy rather than making them brain-meltingly wealthy - is "kind of a pejorative in this world." Because to be reminded of why people normally work is an unwelcome dose of real life, …

The clean-up crew stays deliberately out of sight [...] their clients think consulting them will constitute a capitulation. An admission that what they're running is a business, that their career is in the end just a career, that gravity has some kind of purchase on their meteoric trajectories.

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