hilariously, you’re helping make my point.
if what i was doing wasn’t valuable, i’d go out of business. but my businesses are immensely profitable, which means the world does value my work. you don’t get to decide if im a productive person or valuable to society, the market does.
(i respect your opinion though. you don’t have to use what i make)
But that is just basic capitalism. Palantir makes tons of profits, but does it make the world a better place? I say no. Your logic says yes.
Is the free market paying for palantir? Or is it a corrupt system, paying for palantir?
Their stock is being bid up by the free market. CEO's bonus is tied to the stock price. All tech companies are implementing AI to replace workers and cut costs, the free market likes that too. Value to the investors does not equal value to the world.
Is there free market / capitalism in a fiat printer environment? As long as it can go brrr, it's all massively skewed and corrupt.
IMHO neither the clever wall street fiat gains can be explained 1:1 with bringing value to people (it's more nuanced) nor the current situation can be called a pure capitalism.
You can conpute real returns adjusting for inflation. My point stands. CEOs are legally required to maximize value for shareholders. This usually happens at the expense of the rest of the world: enployees, consumers, taxpayers. We get poorer and consume lower quality shit. Bitcoin standard won't change that insentive framework. I don't know what will.
