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Then the value just diffuses in the whole economy, ending up in investments in countless industries. Instead you can keep it in stocks of companies you believe
by Agebor 9y ago
Then the value just diffuses in the whole economy, ending up in investments in countless industries.
Instead you can keep it in stocks of companies you believe in, like startups and interesting moonshots.
It all ends up with the question - do you want the economy to decide where to focus the value (the diffusion) or do you want to decide yourself?
But if you have this amount of money in the first place, you are statistically in the better place to decide than the economy.
- bbddg 9y agoI think you need a citation for that last point. This is the exact logic that got us the 2008 crash.
- Agebor 9y agoPerhaps, but also most of technological progress in recent centuries. It's a shame humans have a bias for negativity.
- bbddg 9y agoCertainly lots of technological progress has been made through exploitation but as we see automation taking more and more jobs, maybe we can end that cycle. This is how progress in society is made. See a problem in the world and try to make it better. I don't think we need to have people working such degrading jobs to have technological progress, but you need it to have this many billionaires running around.
- achileas 9y agoPutting 'statistically' in front of a fully subjective statement doesn't make it magically objective (or true).