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I'm constantly amazed at the number of upvoted, top-level comments on HN (on any topic) where the underlying premise is first, thousands of people with actual s
by jessedhillon 7y ago
I'm constantly amazed at the number of upvoted, top-level comments on HN (on any topic) where the underlying premise is first, thousands of people with actual skin in this game are wrong, whereas I, a drive-by commentator, posess True Understanding. I'm not suggesting that a large number of personally invested people is proof of correctness -- but certainly it reeks of arrogance if your argument assumes without proof that an uninterested commentator is better informed than all of them. More so if your only comment, given such a grand assumption, is to reiterate basic economics.
At least you could try to explain how you think it is that so many are mistaken about something so elementary that it fits in two short paragraphs.
- mhermher 7y agoThose investors just need to find greater fools.
- GVIrish 7y agoInvestors have been massively wrong before on all kinds of things which has led to market crashes. So the fact that some investors believe Uber will become a strong, profitable business in the foreseeable future doesn't count for much. The market is not perfectly rational. It's vulnerable to hype and there's a lot of money to be made by exploiting that hype and selling before the bubble bursts.