The problem with today’s “start-up” culture…

At a recent startup demo event, the event sponsor, who I won’t name, boasted that their “members have been bought by Google, Facebook, Oracle and others” and “have raised over $1 billion dollars in funding”. I assume it was an attempt to gather new members from the audience for the coworking spaces they offer.

Not once did the speaker¬†mention the number of customers that their members have acquired, the amount of revenue generated or even the number of people they’ve helped.¬†In just two sentences, I think they epitomised what’s wrong with today’s startup culture: acquisitions and funding rank higher in people’s priorities than actually helping people or generating money.

In a world where 99% of “start-ups” will never become the next Uber, Google or Airbnb, how exactly is this a sustainable approach to starting and running a business?