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Speculation and greed is the foundation of all new technology. Entrepreneur: 'Hey, look if we boil water it moves this piston' Investors: 'We speculate tha
by fleitz 9y ago
Speculation and greed is the foundation of all new technology.
Entrepreneur: 'Hey, look if we boil water it moves this piston'
Investors: 'We speculate that this may be important in the future, here's money'
Entrepreneurs: 'I made a steam engine'
Investors: 'We speculate that this may be important in the future, here's money'
Entrepreneurs: 'I made a railway system'
Investors: 'We speculate that this may be important in the future, here's money'
...
- viraptor 9y agoI do not see greed anywhere in this exchange. Also there's a difference between what people normally describe as investment vs speculation. The first being assuming a growth of value of something useful. The second is making money on the difference in a value, completely ignoring what the value represents. (yeah, the line is a bit fuzzy in practice)