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"real industries"? What is a real industry to you? Farming done by migrant, mostly illegal workers, or machines? Manufacturing of goods that mostly happens in
by themitigating 4y ago
"real industries"?
What is a real industry to you? Farming done by migrant, mostly illegal workers, or machines? Manufacturing of goods that mostly happens in China?
- spaceman_2020 4y agoNot to be a luddite, but a ton of tech ventures now straddle the edge of value addition to society. Value might be subjective, but its hard to see how a NFT marketplace is as valuable to society as, say, a tractor factory or steel plant.
- themitigating 4y agoI find those to be exceptions to most companies in our economy. Construction of housing, food, medicine, water, army/police are your base levels. An NFT marketplace is a similar to gambling or derivatives. The value is potential income for people.
- mellavora 4y ago"value" is an ambiguous word. I think you understand it as "something people are willing to put money into", which certainly covers gambling. Another definition of "value" is something which increased the economic output, a positive-sum game. Thus gambling (which is zero-sum) does not create value. Derivatives do create value in the second sense, in that they can be used to protect against risk, thus creating value (or allowing the creation of value). Yes, they can also be used for the equivalent of gambling, but they have additional uses.
- wpietri 4y agoJust to be clear, gambling is a net societal negative. For every dollar that goes in, less than a dollar in income comes out. It's going to happen, but let's not pretend that it's value-creating.
- andsoitis 4y ago> An NFT marketplace is a similar to gambling or derivatives. Derivatives have real utility.
- IanDrake 4y ago
- esotericimpl 4y agoI don't see how you can say this. The 2 most valuable tech companies started in the 2000s are Facebook and Google. Those 2 companies are glorified Ad Companies that happen to provide a service so they can aggregate data to sell more ads. Other than organizing the information of the internet (lately it is debatable as to how well they have been doing this lately) via google, what value addition would you say facebook or google is providing? Same thing with Uber, now that VCs are no longer subsidizing Car rides for the entire world, it's just a more expensive cab. What are the tech ventures that have been adding value addition to society. Based on the experience i've had with family members becomes complete Q psychos i'd say net negative on facebook's part and they dont even build anything.
- wpietri 4y agoFor sure. The unicorn era is characterized by an oversupply of venture capital that gets spent well in advance of proportionate proof of utility. E.g., Theranos and WeWork. Or pretty much the whole [1] of the metastasizing crytpowhatever space. Layoffs in nonproductive companies are good, IMHO. And the sooner the better, as the longer someone spends in a bubble, the harder it is for them to adapt when the bubble pops. [1] Not your personal favorite, of course. That one's the pony in there somewhere. https://quoteinvestigator.com/2013/12/13/pony-somewhere/ https://quoteinvestigator.com/2013/12/13/pony-somewhere/
- supernovae 4y agoNetflix isn't an NFT and just because they have competition now doesn't devalue them as first mover with millions of subs.
- mtoner23 4y agoa real industry makes things that people want. Farming, mining, chinese manufacturing. Coinbase is a glitch in our regulations on the other hand and we shouldn't be wasting our brightest minds on convincing people to sign up for accounts.
- akavi 4y agoIs Flexport part of a real industry? Is Stripe? Is Gusto? Just because something is not physical, doesn't mean it's not valuable.