6 ms·

The 100m is not a sustainable model for a nation or world's economy. Everyone needs to eat, not just the single individual who runs fastest.

by realce 2y ago

robertlagrant 2y ago
That doesn't seem in any way relevant to the point about survivorship bias. Nor to the US, whose system has if anything produced far too much food for its citizens.
- realce 2y ago
  > That doesn't seem in any way relevant to the point about survivorship bias. To me, it seems exactly like the point of view that someone who wins the 100m would have. > Nor to the US, whose system has if anything produced far too much food for its citizens. Where people still starve, where people are still homeless, where people still live in poverty. What's your point here?
  - robertlagrant 2y ago
    > To me, it seems exactly like the point of view that someone who wins the 100m would have. That's just your own assumption. Who cares what any of us imagines anyone else thinks? It's not really relevant.
    - realce 2y ago
      > Who cares what any of us imagines anyone else thinks? Since you're responding and we're having a conversation about each other's opinions, I'd say it actually is relevant.
      - robertlagrant 2y ago
        I'm not imagining what you think; I'm just responding to what you write.
palmfacehn 2y ago
Value creation isn't a zero sum game. Increased productivity benefits everyone. Whether it hyperscales or not, genuinely profitable businesses add value to the economy. This in turn creates more opportunities for everyone willing to participate.
- realce 2y ago
  "Value creation" is not the same as the monopolistic paradigm of a winner-take-all 100m race. Hyperscaling is a system where potentially profitable businesses are destroyed because they weren't profitable ENOUGH for some singular VC investor class. I agree with you that profitable businesses add value to everyone's lives, but there's a maximalist limit to the relationship where they start extracting value and opportunity overall.
  - palmfacehn 2y ago
    Similarly, almost all of the track and field athletes always cross the finish line, regardless of placement. If your business is genuinely profitable, you should do the same. You don't have to be gold medalist if it means compromising your vision or values. If you object to the whims of investors, it may be better to focus on things you can build without their assistance. It isn't as glamorous and it may not make you a billionaire, but it does hone your ability. Frankly, not all of the VC sphere is focused on value creation. Much of it seems focused on buzzwords and vaporware. Success in the VC world might mean keeping the hype and promises of hyperscale performance rolling long enough to successfully dump on retail. Sure, VCs and founders profit, but is it genuine value creation? It is a symptom of an overly financialized economy. We should distinguish these cynical scenarios from genuinely profitable value creation.
    - realce 2y ago
      > It is a symptom of an overly financialized economy. We should distinguish these cynical scenarios from genuinely profitable value creation. 1000% agree, thanks for the thoughtful reply
- 2y ago

The 100m is not a sustainable model for a nation or world's economy. Everyone needs to eat, not just the single individual who runs fastest.

by realce 2y ago

The 100m is not a sustainable model for a nation or world's economy. Everyone needs to eat, not just the single individual who runs fastest.

robertlagrant 2y ago

That doesn't seem in any way relevant to the point about survivorship bias. Nor to the US, whose system has if anything produced far too much food for its citizens.

realce 2y ago
> That doesn't seem in any way relevant to the point about survivorship bias. To me, it seems exactly like the point of view that someone who wins the 100m would have. > Nor to the US, whose system has if anything produced far too much food for its citizens. Where people still starve, where people are still homeless, where people still live in poverty. What's your point here?
- robertlagrant 2y ago
  > To me, it seems exactly like the point of view that someone who wins the 100m would have. That's just your own assumption. Who cares what any of us imagines anyone else thinks? It's not really relevant.
  - realce 2y ago
    > Who cares what any of us imagines anyone else thinks? Since you're responding and we're having a conversation about each other's opinions, I'd say it actually is relevant.
    - robertlagrant 2y ago
      I'm not imagining what you think; I'm just responding to what you write.

palmfacehn 2y ago

Value creation isn't a zero sum game. Increased productivity benefits everyone. Whether it hyperscales or not, genuinely profitable businesses add value to the economy. This in turn creates more opportunities for everyone willing to participate.

realce 2y ago
"Value creation" is not the same as the monopolistic paradigm of a winner-take-all 100m race. Hyperscaling is a system where potentially profitable businesses are destroyed because they weren't profitable ENOUGH for some singular VC investor class. I agree with you that profitable businesses add value to everyone's lives, but there's a maximalist limit to the relationship where they start extracting value and opportunity overall.
- palmfacehn 2y ago
  Similarly, almost all of the track and field athletes always cross the finish line, regardless of placement. If your business is genuinely profitable, you should do the same. You don't have to be gold medalist if it means compromising your vision or values. If you object to the whims of investors, it may be better to focus on things you can build without their assistance. It isn't as glamorous and it may not make you a billionaire, but it does hone your ability. Frankly, not all of the VC sphere is focused on value creation. Much of it seems focused on buzzwords and vaporware. Success in the VC world might mean keeping the hype and promises of hyperscale performance rolling long enough to successfully dump on retail. Sure, VCs and founders profit, but is it genuine value creation? It is a symptom of an overly financialized economy. We should distinguish these cynical scenarios from genuinely profitable value creation.
  - realce 2y ago
    > It is a symptom of an overly financialized economy. We should distinguish these cynical scenarios from genuinely profitable value creation. 1000% agree, thanks for the thoughtful reply
2y ago