11 ms·
I don't know how you can look at this and tell me that our system is efficient, stable, non-parasitical, rational, less wasteful... It will interesting to cons
by Bakary 6y ago
I don't know how you can look at this and tell me that our system is efficient, stable, non-parasitical, rational, less wasteful...
It will interesting to consider the effect of randomness on our minds in the coming decades. It has always been possible to become wealthy through luck, but in this current context it has intensified to a different level altogether. Every minute you spend doing something else could have been the minute that would have let you discover the next get-rich-quick bullshit/random fluctuation/new bubble/new craze etc. Hard work over long periods of time can be rendered meaningless in an instant. Creating actual value to be rewarded by a small quantity of inflation-prone currency each month is a sucker's game in comparison.
- twox2 6y agoHard work over time never really guaranteed success to begin with. Luck has always been a factor on top of that hard work. Luck is also enough on its own.
- Bakary 6y agoIt's more about the relative change in the weight of the factors. Luck has always been important, but often required extra effort to go with it. Generally if there was an opportunity to be seized you had to do some active seizing. The arena is now a lot more volatile and virtualized. The methods to capture surplus are a lot more random and granular. The surplus itself is bigger and more diversified. Lottery tickets are an old institution, but now you have tickets lying around in random chatrooms all over the place. This is reflected in modern investing strategies. It's now all about throwing money and hoping some of it sticks to a unicorn.
- twox2 6y agoI don't disagree with you, but also I'm not sure I have issue with this new paradigm.