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> Here is how: You have to admit and understand you are competing, you have to have a sense of where your competition is, and then you have to find out how to p
by Ukv 2y ago
> Here is how: You have to admit and understand you are competing, you have to have a sense of where your competition is, and then you have to find out how to put yourself around them like chess, so they wake up and realized they lost. Once you have a monopoly, [...]
I don't claim that advertising is an illogical move from a business's self-interest perspective, but that it involves a zero-sum game that allows the resources wasted on it to greatly exceed any value it produces for society. It's a way to "compete" without doing useful work, and as a society we'd typically want businesses to compete by doing useful work instead of, for instance, building bigger and bigger Bitcoin-mining rigs.
- neom 2y agoI use a pretty clinical definition for what I consider a business: a business is simply a collection of systems and processes that work together to create a condition for a fair and safe exchange of value between parties. I think any real business person would agree that is true. That is to say some things that look like businesses are not, and they go away pretty quickly. Then some societies say "what fits into that bucket but we want to hedge out edge cases" and then you exclude stuff, say healthcare. In a perfect system, the utility would have responded to the bitcoin miners by spinning up a huge solar farm that not only solved the BTC but helps everyone else too, an unfair capitalist will tell you a totally deregulated market will create those conditions over time, I'm skeptical of that aspect of capitalism hence I say it's an unfair point, but I don't firmly take a position because we don't have perfect systems so it's hard to know.