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Sree Vijaykumar

From the Editor's Desk
In a classic case of 'God complex', Paul Graham seems to have stepped beyond his area of expertise with his latest essay, incurring the wrath of many - Paul Graham is still asking to be eaten. He claims that he is a manufacturer of economic inequality, a statement that begs to be attacked. While his proficiency in helping produce successful startups through YCombinator is beyond doubt, the problem with his latest essay is his tunnel vision to think that Silicon Valley/he has the solution to the economic problems of the world. What makes Silicon Valley look good is the comparison with Wall Street, where greed and fear have destroyed wealth for many, while a few have run away with millions. In the larger scheme of things, Silicon Valley only embodies a better form of capitalism where consumers generally gain, but the primary driver is still investors demanding a high return on investment. It does nothing in important areas where markets themselves fail (fundamental innovation in sciences/research, healthcare, etc). Capitalism itself is far from perfect and governments around the world (including the US) keep trying to plug its weaknesses through various forms of incentives, penalties and wealth transfers. The economic inequality problem is not something Silicon Valley can solve by itself - Comment

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