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Not all hype is the same. Internet was hyped. Automobile ("faster horses please"). Telephone ("we have messengers on horses already"). Radio & Television ("nobo
by agentifysh 8mo ago
Not all hype is the same. Internet was hyped. Automobile ("faster horses please"). Telephone ("we have messengers on horses already"). Radio & Television ("nobody is gonna sit in front of a box all day!"). Computers ("nobody wants these clunky loud things in tehir home"). Smartphones ("no keyboard its useless).
- lm28469 8mo agoNone of these industries had weirdos asking for $7 trillion to cure every disease and solve every problem known to man, they all grew organically over decades before finding their uses without being actively forced into every aspect of your life 2 years after the mvp was released.
- agentifysh 8mo agoIn all of those cases capital chased a future reality, railroad, electricity, internet all had massive speculation. the dot com bubble came and went but internet stayed. $7 trillion looks cartoonish due to inflation, you'd have to normalize it with other economic numbers. Large companies are funding capex with bonds that still within healthy margins per employee head. > to cure every disease and solve every problem known to man not sure why you view this so negatively, that would be absolutely worth every penny. Granted there is a lot of noise too but dismissing everything because of the volume is premature. Technological shifts rarely produce catastrophic labor supply/demand shocks that last, it changes how we work and the market adjusts. You are conflating the hype layer typical with all major technological breakthroughs and the subsequent capability that gets baked into humanity as a result.