The lure of easy money has attracted many. Any place that can offer it has attracted people without reason. Even when the resource in the place has been exhausted, many flocked to the gold rush. In the same way many are starting startups when there is no real value in their product and / or service.
Lets take tech startups. Usually tech startups have something novel, innovate, something great in tech thats an improvement of something or an unique feature. Today startups are a sham. Most of them are not tech wonders but just an marketing idea which has already been developed by some one else. Even if the marketing is brilliant, it must always be brilliant, as any one can catch them on tech.
Its very easy to market stuff, all you need is money and some lies, but you need science which is essentially truth to beat some one in tech, and thats difficult. Most venture capitalist today seem to be non tech guys who cannot see the real technology, but who go by presentation and spreadsheets. Those guys are investing in things that glitter than one that is truly good.
We are riding on startup bubble and making people believe that startups are cool and sexy. When this bubble bursts and funding for startups becomes sane, most people who are in non important jobs will loose their livelihood. Thanks to big money and human greed.
Plus startups do a serious mistake, they hire fresh blood and force them to sacrifice their enjoyment today so that they will get huge money tomorrow. In fact the huge money tomorrow is a gamble, only 1 in 300 or so startups do really make money back and fraaction among those who make money become famous and successful. This phenomenon is causing lot of youth to waste their life.
I hope humans will look at startups in more sane way than in a greedy way as they do so now.