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Hm call me old fashioned, but hearing that this was done by people in Malta backed by people in London sort of broke my heart I get HN isn’t sympathetic to thi

by gxs 2y ago

Hm call me old fashioned, but hearing that this was done by people in Malta backed by people in London sort of broke my heart I get HN isn’t sympathetic to this kind of stuff (ovarian lottery and all that jazz), but I, personally, much rather this have been some kids from a random town in Kansas or something vs pros from other countries Edit: I think you are all confused and acting as if I didn’t understand why this happened or how, I was just making a sentimental lament, but I should know better by now

SecretDreams 2y ago
> but I, personally, much rather this have been some kids from a random town in Kansas or something vs pros from other countries Well, that's the rub and ultimate downfall of our current implementation of capitalism. Even if you have a good idea that almost nobody else has yet thought of, you've got to have enough resources to be able to comfortably execute it such that if you fail, your life won't be over. Most of the time, the only people who can do that already have a lot of money. So most innovators and innovation naturally have to come from people that already have money and connections; HOWEVER, there's very little reason to believe only good ideas come from people with money or power. So little Timmy from Kansas might have even thought this was a nifty idea, but Timmy's dad is going to roll his eyes and get back to work. Nobody on the ground is ever going to be able to execute what is a relatively obvious play. Instead, they lose their time-advantage and big Timoteo from Malta comes in for the prize. Worse still, big Timoteo has now accumulated more resources that puts him even further ahead of the pack for future such endeavours that should really need have success tied to starting resources.
nightpool 2y ago
Where are "some kids from a random town in Kansas" going to get $24M dollars?
- jldugger 2y ago
  Maybe they know a guy[1]. [1]: https://www.justice.gov/usao-ks/pr/victims-cryptocurrency-scam-awarded-restitution https://www.justice.gov/usao-ks/pr/victims-cryptocurrency-sc...

by gxs 2y ago

SecretDreams 2y ago

> but I, personally, much rather this have been some kids from a random town in Kansas or something vs pros from other countries Well, that's the rub and ultimate downfall of our current implementation of capitalism. Even if you have a good idea that almost nobody else has yet thought of, you've got to have enough resources to be able to comfortably execute it such that if you fail, your life won't be over. Most of the time, the only people who can do that already have a lot of money. So most innovators and innovation naturally have to come from people that already have money and connections; HOWEVER, there's very little reason to believe only good ideas come from people with money or power. So little Timmy from Kansas might have even thought this was a nifty idea, but Timmy's dad is going to roll his eyes and get back to work. Nobody on the ground is ever going to be able to execute what is a relatively obvious play. Instead, they lose their time-advantage and big Timoteo from Malta comes in for the prize. Worse still, big Timoteo has now accumulated more resources that puts him even further ahead of the pack for future such endeavours that should really need have success tied to starting resources.

nightpool 2y ago

Where are "some kids from a random town in Kansas" going to get $24M dollars?

jldugger 2y ago
Maybe they know a guy[1]. [1]: https://www.justice.gov/usao-ks/pr/victims-cryptocurrency-scam-awarded-restitution https://www.justice.gov/usao-ks/pr/victims-cryptocurrency-sc...