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Well said. Startups add value to society. But society quickly discards anything that is not of value. How come Wall Street still thrives? Surely there must be
by rmk 16y ago
Well said.
Startups add value to society.
But society quickly discards anything that is not of value.
How come Wall Street still thrives? Surely there must be something that they offer?
It's Government that doesn't add value. It failed miserably at its job of regulation (whatever was left after glass-steagall, that is), passed highly unpopular policies whose results have been questionable, and now passed another monstrosity that it hasn't even finished, but will leave it as an 'exercise for the readers'.
I would say Wall Street is an ugly manifestation of the perverse incentives that Congress helped create.