11 ms·
When there's an endless supply of "marks", it means that you, as a hypothetical sensible and intelligent entrepreneur are faced with competing with them in good
by perl4ever 7y ago
When there's an endless supply of "marks", it means that you, as a hypothetical sensible and intelligent entrepreneur are faced with competing with them in good times, and then none of you can deal with the bad times.
Free markets can't fix the effects of collective error or stupidity through some magical means. They can reinforce it.
- v64 7y agoI agree with you, but I disagree that the solution for it is "You can only invest in these ventures if you have X net worth". Having more money does not necessarily imply one is less foolish, and it disqualifies those who are capable of properly evaluating an opportunity but are not high net worth individuals.