You are right about the lack of competition in the third world. But there are sometimes structural and legal factors that make it harder to make money there; la

You are right about the lack of competition in the third world. But there are sometimes structural and legal factors that make it harder to make money there; lawsuits, arguments, edge cases, and general agreement on how things should work that the West figured out long ago. You can’t invest lots of money with confidence until these things have stabilized. The other thing is that the economy is like an ecosystem - the richer it gets, the more nooks and crannies open up that can host thriving systems. That’s how a complex, rich economy can keep growing exponentially. Human needs are not limited - there’s always a way to improve life for someone.