> We don't need more tech companies. We don't need more hedge funds.
What we absolutely don’t need, is autocrats dictating what society needs.
Luckily we already have this cool innovation called a market economy. It’s not perfectly efficient (especially in the short term), but pretty damn efficient.
By throwing off price signals, the market allows us to allocate efforts to things society wants more of. Unfortunately, contrary to the wishes of the King, it turns out society wants more tech companies.
But sometimes we do indeed over-allocate resources to tech companies! Luckily we have the hedge funds incentivized to make profit by arbitraging those prices back to reality (As we’ve just witnessed in tech). I guess we also need more hedge funds.
What we absolutely don’t need, is autocrats dictating what society needs.
Luckily we already have this cool innovation called a market economy. It’s not perfectly efficient (especially in the short term), but pretty damn efficient.
By throwing off price signals, the market allows us to allocate efforts to things society wants more of. Unfortunately, contrary to the wishes of the King, it turns out society wants more tech companies.
But sometimes we do indeed over-allocate resources to tech companies! Luckily we have the hedge funds incentivized to make profit by arbitraging those prices back to reality (As we’ve just witnessed in tech). I guess we also need more hedge funds.