For most of you who are too young to remember the summer of love and flower power, you just witnessed a repeat when Facebook bought Oculus VR and thus has destroyed Kickstarter. Every generation has to have its crazy idealism, that somehow money isn’t everything and this time it will be different.
You should read history (or listen to your parents) because those that don’t are doomed to repeat it. The Woodstock generation saw reality in the Chicago Democratic Convention and the Vietnam War. Now you’ve seen it too, just a tiny bit of it, but perhaps what will start the ball rolling.
Did you think you had repealed greed? Didn’t you watch The Social Network or are you so in love (or want to emulate) your hero Zuck that you don’t realize what greed does to people. Money is totally 100% always toxic to idealism and now you just got your lesson in that – are you listening? Did you buy stock in King and now realize you fell for the hype, like you did with Zygna? Or how about Twitter – do you really think it’s going to change the world and even exist five years from now? And will you cheer on Box and Foursquare and all the other startup cons because somehow you think your generation is different, that you’re smarter, that you’re not as corrupt.
If there is anything FB should have taught you, already before even this new evidence, is that greed always corrupts. Zuck was probably already a sociopath, but wave a few billion in front of his noise and he becomes positively evil. Do you really think such a trivial thing as Facebook should even be mentioned in the same breath as the real innovation that once existed in Silicon Valley?
So now you’ve learned Kickstarter is a Ponzi scam. You gave people money with some vague notion that somehow they were one of you and would give you back something you wanted. You made Steve Jobs into a hero when those who actually knew him knew he was a tyrant and ruthlessly burned people out. How long do you think it will be that Kickstarter is talking about going public now that they’re a one-hit wonder like King?
Yep, ignore the past and you’ll reinvent it. Not the way you were hoping, but the way it has always been reinvented in generation after generation.