Tuesday, January 26, 2016

What Paul Graham Is Missing About Inequality

Tim O'Reilly brilliantly explains What Paul Graham Is Missing About Inequality. He ends with:

When a startup doesn’t have an underlying business model that will eventually produce real revenues and profits, and the only way for its founders to get rich is to sell to another company or to investors, you have to ask yourself whether that startup is really just a financial instrument, not that dissimilar to the CDOs of the 2008 financial crisis — a way of extracting value from the economy without actually creating it.

But it's worth reading the whole thing.

No comments: