Publisher: Hachette Books, 2016
Genre: Nonfiction, Business, Memoir
Despite being a model of a future technology development center in some developing countries, Silicon Valley has its repulsive side. Dan Lyons, a former journalist at Newsweek, try his luck in a Silicon Valley tech start-up, HubSpot, only to find it to be a series of misfortune.
HubSpot turns out to be a cult-like frat house that brainwashed their employees to be devoted to the senseless company culture. Many new start-ups emerged yet they rarely record profit. However, these start-ups survive long enough for its founders and investors to cash out generous amount of money from IPO, while it practices unfair labor systems. Companies are being overvalued for its polished presence in the public.
“Venture capitalists and founders love anything that makes it easier to fly their shares to the public. They can sell during the sizzle and run away before the fizzle.”
The products itself is lousy yet they pour money on marketing, parties, chic office renovations, candy bars, free beers, etc. They spend money more on marketing rather than technology to develop their products.
“A lot of new tech companies are not really about technology. They are doing social media or games and that business is a lot like the entertainment business. It’s not about technology. It’s about business model.”
One of my friend who works at start-up really resonate with this book and Dan’s sarcasm has definitely spice it up.
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