Carnegie, Rockefeller, and Vanderbilt seemed to have done fine by dominating actually useful industries. Even JP Morgan made bank by loaning money to those guys doing cutthroat business and screwing over their workers. Because steel, oil, and shipping were useful industries for society. Modern tech firms are investing billions just for an excuse to layoff theor workforce.
Short-sighted is right. What happens when the “billions” invested in the latest tech-bro scheme become worthless due to the inflation caused by building the economy on digital hot air? Whatever happened to making quality products that people actually want and selling them at a reasonable (or at least justifiable) price? That’s why despite all of the enthusiasm and promise of cryptocurrency it is bound to fail as well – it’s not real. I guess if the whole world enters the Matrix then the idea of a digitally bound utopia will pay off (at least, for the technocrats).
Remember when gold used to be the standard by which a currency was pinned and how stable that was for millenia until we did speculative trading?
Remember when consumers used to be the standard by which an economy was pinned and how stable that was for a century before billionaires became the sole executor of all wealth?
Business sense doesn’t make billionaires. Obscuring profitable forms of human suffering and conducting short-sighted grifts does.
Carnegie, Rockefeller, and Vanderbilt seemed to have done fine by dominating actually useful industries. Even JP Morgan made bank by loaning money to those guys doing cutthroat business and screwing over their workers. Because steel, oil, and shipping were useful industries for society. Modern tech firms are investing billions just for an excuse to layoff theor workforce.
Short-sighted is right. What happens when the “billions” invested in the latest tech-bro scheme become worthless due to the inflation caused by building the economy on digital hot air? Whatever happened to making quality products that people actually want and selling them at a reasonable (or at least justifiable) price? That’s why despite all of the enthusiasm and promise of cryptocurrency it is bound to fail as well – it’s not real. I guess if the whole world enters the Matrix then the idea of a digitally bound utopia will pay off (at least, for the technocrats).
Remember when gold used to be the standard by which a currency was pinned and how stable that was for millenia until we did speculative trading?
Remember when consumers used to be the standard by which an economy was pinned and how stable that was for a century before billionaires became the sole executor of all wealth?