Very worthy of a read.
@waxwing Good article. All that is so beyond me. I go to tiny local shops (butcher, baker, fruit/veggie farmers, fisherman) 300 yards from home and buy real, fresh, raw food. Nothing packaged. It’s not expensive. If I eat at a restaurant, it’s a tiny place where the chef is a friend who makes something real for me based on what he has and what he knows I like. I don’t order and know it will be good. When I travel, I stay in one area a while and it doesn’t take long to build a similar network.
@jon you know what's interesting? Balaji just dismissed the whole premise with 'nah we'll have another Uber, doordash will work'. Same kind of thinking that led to his trainwreck 21co and makes him work with Coinbase. I used to call it techno-utopian panglossianism. He thinks a shiny new technology can solve anything, I guess.
Also that SV VC set refuse to see how the softbank type money changed things- inconvenient to their narrative.
@lain Fedi ist, wenn man von nem Uber-Thread lernt dass Goethe's Faust von Hegels Phänomenologie inspiriert war.
@raucao @lain @jon indeed i am not against allowing malinvestment per se. But what's behind it .. blood money and money effectively stolen from near-slave labour, then there's the complete other angle (mentioned in the article) of the utterly warped monetary policy leading to speculation to absurd excess (VCs are the ultimate speculators). Problem with these things is the negative sides are well hidden behind layers of abstraction.
@waxwing @lain @jon I have spoken to many Uber drivers in poor countries, and they usually made comparatively good money and were quite happy with it. When Uber led price wars against competitors, they usually burnt VC cash, not drivers' commissions. That doesn't say anything about where the money comes from (and I agree with that), but at least it mostly ended up in both drivers' and customers' pockets as far as I can tell.
I mean, just about any investment can be framed as such if you really want, but I suppose the issue becomes a matter of scale. Large scale money lasts longer, and newer techs allow easier market penetration. High risk, high reward.
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