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> On the other end of the spectrum, there are very high risk businesses with no innovation and stiff competition (e.g. dealing illegal drugs). This made me lau
by thworp 4y ago
> On the other end of the spectrum, there are very high risk businesses with no innovation and stiff competition (e.g. dealing illegal drugs).
This made me laugh out loud. I'd say drug dealing is one of the most innovative businesses around. At the high level, cartels are constantly inventing new methods of smuggling and money laundering. At a low level, dealers were first adopters for text messengers, crypto messengers, cryptocurrency marketplaces etc. I'd say this makes them more innovative than most startups (who often just re-invent traditional business but done online). Dealers even make profits!
- kortilla 4y agoSome dealers do some innovative things sure. But most are just use violence and local neighborhood knowledge to stay hidden. “Using a burner phone” is a 20+ year old trope and it was pay phones before that. Not exactly innovation. The people that made crypto currency market places were pretty innovative. The dealers that used them weren’t. They are the equivalent of people who discovered eBay in the 90s. Early adopters, not innovators.