4 ms·
> is a bit hyperbolic Well, I had to articulate something that will ring true (or at least be quoted) for at least a thousand years. You can't do that with mea
by nologic01 3y ago
> is a bit hyperbolic
Well, I had to articulate something that will ring true (or at least be quoted) for at least a thousand years. You can't do that with measured expressions.
But on the main point, outward manifestation of deep crisis makes indeed for pop-corn consumption but I don't think I really exaggerate if I say that the crisis was a death moment for an entire industry. The resurrection worked. But it brought back a zombie.
The foundational myth of the financial sector, its calling card to society has been shredded. While in a world of TINA's the gainful milking of broken financial / banking systems continues unabated, this is not enough for a sector "to own the future" and NPV an infinite stream of cash.
It is now lost in fading memories but there was a time when the masters of the information universe were not "big tech" but "big finance".
Just like now there is a pseudo-ideology around "organizing the world's information" or "connecting all people", bankers used to have a pseudo-ideology about optimizing all the economy by transactionizing, financializing, securitising and marketising everything.
In fact, as the crypto boom conveniently reminded us, that ersatz ideology is still lurking around, available to any tribe that wants to try its hand at "reinventing finance" using tech.