Entrepreneurs and VCs are today's iconic duo. But, the two still have their faults.
Let's say you're an engineer or a businessperson with the"next big" idea. You get in touch with some investors, and actually close a funding round. Now, it's time to finally build that company you ravaged on about.
With all that money however, incentives start to misalign. You start chasing short-term goals -- doing tasks that are irrelevant to the work that has to be done. And it's because of how deterring the incentive for social recognition has become.
Closing a large funding round to some entrepreneurs means the opportunity to gain status, which in turns halts our strides towards innovation. Entrepreneurs are getting sucked into a vacuum of building their social status, rather than focusing on growing their innovative company and generating money from there. All of a sudden, a verified twitter account means more than a market-ready product.
There simply needs to be greater emphasis on achieving that long-term goal you, as an entrepreneur, used to pride yourself on.
We live in a world corrupted by failed networks of misaligned incentives and short-term motivations. This is what hinders technical progress, and is why global challenges rage on.