3 ms·
Except that gold-rush-like booms tend to attract individuals who are more risk-taking and entrepreneurial. So of course there will still be losses in a downturn
by thedreammachine 2mo ago
Except that gold-rush-like booms tend to attract individuals who are more risk-taking and entrepreneurial. So of course there will still be losses in a downturn, but this is a self-selected group with greater adaptability, more likely to mix and match skills and still end up better off than if they had not participated at all...
- bawolff 2mo agoThe problem with a gold rush is by the time you hear about it, so has everyone else and all the gold is gone once you get there.
- AnthonyMouse 2mo agoThat's assuming it takes longer for you to hear about it than for everyone else to extract all the gold. Now suppose there is a data center boom and a massive housing shortage and a transition from fossil fuels to electric cars and heating systems and at least two of those things are likely to continue for a good while.