4 ms·
There was a plastics gold rush in the '60s because of the massive investment in R&D and basic research made in the first part of the 20th century, due in no sma
by tarboreus 9y ago
There was a plastics gold rush in the '60s because of the massive investment in R&D and basic research made in the first part of the 20th century, due in no small part to the world wars. There was an internet gold rush in the 90s and the aughts because of the investment made by the US in programs at DARPA and Bell Labs, a public monopoly. You can't have these kinds of non-zero sum "gold rushes" without laying the groundwork through new understandings of the universe, or how to better organize society. Yet as a culture we glorify the Steve Jobses of the world that do the equivelant of carrying the letter from the mailbox to the house, forgetting that it was flown halfway around the world to be there in the first place.
Entrepreneurs don't create gold rushes. Scientists create gold rushes. Forward-looking politicians create gold rushes. Strange devils sitting alone in their rooms create gold rushes. But these rushes happen 20, 30, or 40 years after the initial investment is made.
So we're not going to see many gold rushes in the next few years. Sorry. Hope you have some rents to draw.