alt Hacker NewsMeanwhile our top VCs continue to invest in SaaS, AI (new SaaS), and crypto (ponzi returns) because I guess the only thing that matters is widening the wealth gap and enjoying the yacht life.
I work in VC and make early stage investments primarily into industrial or other physical industries. It often feels like an uphill battle trying to get people to take interest in this stuff.
My most recent company sources from China because the US infrastructure can’t supply what we need. This is a company that will be worth billions when it scales up and the US literally cannot supply it because our factories are so ancient.
It's also that the west collectively convinced themselves that the economy could be built on high value knowledge work and services and manufacturing will be handled by someone else. Of course people would rather live near some offices, or maybe a workshop than a heavy industrial site...
The transition of my country from a socialist to a western capitalist system included a mass closure of heavy industry and what remains is dying a slow death of high energy costs. I remember when a coal mine closed there were all those marvelous ideas how the area would transition to high tech programming jobs; the thing that actually saved the area was a fuse manufacturing plant.