Does VC Money Do Anything Good?

After reading this article about the future of media companies I wonder if VC money does anything good at all.

Uber was supposed to revolutionize cars, but just looses money. The only thing it did was drive pricing down for similar services, like Taxi’s, and make it harder to earn a living in the field.

WeWork, tanked and didn’t change the way we work.

It seems to me that the things which will really hold on and change our lives are companies that focus on being profitable from day one. Companies that slowly grow and just keep at it. That have a clear path to profit from day one.

VC money simply distorts perception, I mean if someone with billions of dollars thinks it’s good it must be right? Nope, people with lots of money don’t know any more than you do. In fact, they may have less people around them telling them that they’re stupid and thus they make more stupid decisions.