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The point of his analysis is that you should be taking the other side of the trade. Become a tech person, or a crypto person, or some other recipient of primar
by nostrademons 6y ago
The point of his analysis is that you should be taking the other side of the trade. Become a tech person, or a crypto person, or some other recipient of primary capital that's doing something with it. That's how the economy advances: speculative bubbles greatly increase the rewards for doing anything potentially useful related to the new technologies, smart people respond to these incentives by entering the market, the market selects for the best of these "potentially useful" innovations, and then an eventual financial crisis prunes out everything that wasn't useful and reallocates resources to the winners.