> Markets are designed to reward people who take risk to create useful things for other people. This is an illusion. Recency bias due to technological advancem

> Markets are designed to reward people who take risk to create useful things for other people. This is an illusion. Recency bias due to technological advancements in the recent past. But through the history of our specie it was social phenomenons which made people rich, not giving people what they want. And it's still the case. Take the 20 years long war on terrorism. It costed 2 trillion of real cash (not phony marketcap, again real cash) which ended up in the pockets of few people and institutions. The Subprime/housing bubble is another example. It's a viral idea , meaning a social phenomenon that prompted people to think real estate was always gonna appreciate The Japanese bubble of the 90s, the dot-com bubble of the late 90s, the Russian debt crisis of 96, the European debt crisis of 2011.. Markets reward those who can buy low and sell high. Period. It's not about creating a good or a service as much as it is about riding the waves of ideas and shifts in public opinion, as well as being able to closely follow viral social trends which prompt people to flow in/out of a determined asset.