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> The government is an incredibly poor & wasteful allocator of capital. Full stop. Which government? What is the threshold for “poor allocation”? Seems like t
by RichEO 6y ago
> The government is an incredibly poor & wasteful allocator of capital. Full stop.
Which government? What is the threshold for “poor allocation”?
Seems like the free market misallocates a lot of capital to me. WeWork was allocated over a billion dollars of investment, and $47 billion in value, that could be easily argued would have be better used elsewhere.
- mrnobody_67 6y agoAt least that money can get counted for properly... and venture capital as an asset class still generates double-digit IRRs, and LPs stop funding investors with poor returns. The Pentagon has spent 20 years and hundreds of millions of dollars in building systems to just try to account for its waste, highly recommend this long read from Rolling Stone: https://www.rollingstone.com/politics/politics-features/pentagon-budget-mystery-807276/ https://www.rollingstone.com/politics/politics-features/pent... and http://nebraskansforpeace.org/pentagon_accounting_fraud http://nebraskansforpeace.org/pentagon_accounting_fraud The stuff about government people spending 15 year careers entering phony numbers is just insane: https://www.businessinsider.com/pentagon-accounting-conceals-epic-waste-2013-11 https://www.businessinsider.com/pentagon-accounting-conceals...