3 ms·
There’s massive survivorship bias going on in this space right now. Social media is basically a survivorship bias machine, after all. You never see the many tho
by IAmGraydon 3y ago
There’s massive survivorship bias going on in this space right now. Social media is basically a survivorship bias machine, after all. You never see the many thousands who try this and completely flop.
- rchaud 3y agoThat's every market with an inelastic supply of labour. P Diddy could reboot Yo! MTV Raps with a million-dollar cash prize, but that's not going to uncover another Biggie.
- dehrmann 3y agoI'm used to elasticity in terms of something like oil where people will pay for it, whatever the cost. I guess creative endeavors are the same, just on the other side. There will always be another artist willing to work for nothing in hopes of getting discovered.
- esafak 3y agoThe economic model for that is a winner-takes-all market, which media is a textbook case of. Social media, on the other hand, is a little heavier tailed, but still nothing like engineering.