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This is spot on. Investors don't give a damn about the business. They just want a machine that they put money in and more money comes out. I wouldn't be surpris

This is spot on. Investors don't give a damn about the business. They just want a machine that they put money in and more money comes out. I wouldn't be surprised if a lot of fast growing businesses these days are frauds. In such environment, the less they know, the better. Only frauds can succeed in a monetary system which is itself founded on fraud. So it makes no sense to do due diligence if you know that the company is all hooked up to the money printers because the business doesn't matter. Only the money printer and the business' connection to it matters; everything else is a nuisance. The business of almost every company in the tech sector these days is the 'capture the newly printed fiat money business.' Any other narrative is fake and only used to create a facade of legitimacy for the company. No company will ever admit that their main line of business is 'government contracts', 'government grants', 'laundered credit from shell companies', 'foreign money laundering', etc...

Radim 5y ago
You're not wrong but… it's pretty disheartening. Do you see a way out? For businesses that want to minimize their reliance on the (trickle-down scraps of) the fraud money business.
- cryptica 5y ago
  I think the economy has become overly financialized - It has become too difficult to earn income through value creation and too easy to earn income through financial schemes - People are realizing this and giving up on value creation en mass. Fraud has become institutionalized (and therefore legalized). IMO, the financial system has already suffered irreparable damage to its reputation. I think there might be calls for asset seizures and redistribution soon. In the US, the BLM movement has already been campaigning for 'financial reparations'. South Africa just passed a law to allow land to be seized by the government without compensation. I think this might become more widespread - Hopefully it will only be restricted to specific assets; I think big corporate stocks are a likely target for expropriation because they have benefited the most from money printing; it will be easy for people to find evidence of wrongdoing and use it as a basis to seize and redistribute shares (or simply nationalize the companies altogether). My gut feeling is that we're headed to some kind of partial-communist government - First, they will only seize the assets related to big finance, big tech, big pharma since this will have public support. Maybe later once the public has warmed up to the new form of government, the government will be able to make a move on all private property.

Radim 5y ago

You're not wrong but… it's pretty disheartening. Do you see a way out? For businesses that want to minimize their reliance on the (trickle-down scraps of) the fraud money business.

cryptica 5y ago
I think the economy has become overly financialized - It has become too difficult to earn income through value creation and too easy to earn income through financial schemes - People are realizing this and giving up on value creation en mass. Fraud has become institutionalized (and therefore legalized). IMO, the financial system has already suffered irreparable damage to its reputation. I think there might be calls for asset seizures and redistribution soon. In the US, the BLM movement has already been campaigning for 'financial reparations'. South Africa just passed a law to allow land to be seized by the government without compensation. I think this might become more widespread - Hopefully it will only be restricted to specific assets; I think big corporate stocks are a likely target for expropriation because they have benefited the most from money printing; it will be easy for people to find evidence of wrongdoing and use it as a basis to seize and redistribute shares (or simply nationalize the companies altogether). My gut feeling is that we're headed to some kind of partial-communist government - First, they will only seize the assets related to big finance, big tech, big pharma since this will have public support. Maybe later once the public has warmed up to the new form of government, the government will be able to make a move on all private property.