GM !
Nice one. Brave and mostly true I think. Was discussing this with friend recently. He’s an amazing businessman/Entrepreneur, but he’s no genius, as he’s made out to be. Genius type people are different and you know when you are in the presence of one.
I am most impressed with space-x but much of that technology was developed in the 60’s and then languished for 40+ years… it took someone special to resurrect, bring it together with todays advances, and disrupt the crony capitalism in that sector.
I agree star link is super important. A shrewd move, which will become increasingly important on the world scene … as will be Twitter if he can salvage it.
More disruption more competition more innovation more decentralization is the only way out.
Stepping down from the Friday night soap box. 📦
This is a good answer, so many false assumptions in our economic thinking... The money manipulation is ultimately a political beast, as governments keep kicking the can down the road. It's not sustainable, but I fear the chaos that results is not going to make a transition to bitcoin easy or obvious for most.
We need better definitions... Wealth is only roughly correlated to things like money, it's actually created with new knowledge, and has no potential limit. "Wealth is the repertoire of physical transformations that one is capable of causing" - David Deutsch (https://www.exkn.io/optimism). This kind of thinking lies at the intersection of Austrian Economics and Critical Rationalism.
I'm skeptically hopeful knowledge creation (technological innovation) may change things fast enough that the money manipulation becomes irrelevant...
🧐
Can we have a fractionalized banking system on a deflationary currency? What would discourage hoarding of a scarce asset like Bitcoin? Just trying to understand the counter arguments ..
Love it! I did a similar thing recently…
I can imagine a world where Bitcoin fixes things, but most “smart” people can’t… do we have any good historical period analogues that might help people grasp what you are saying?