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So you’re saying we don’t need to fear the rise of automation because there will always be a booming frivolity industry
Indeed. Frivolity as a whole is insatiable, but its forms generally unpredictable. Makes it next to impossible to plan for a career, outside traditional professions like law and medicine and some of engineering.
I wonder how often those frivolous bubbles turn into huge industries...
Eery new kind of business will at first be called a bubble. OTOH there will be many more bubbles that do disastrously pop, and we won't be able to tell the difference, although some "pros" will still go on pretending they can.
Then what’s a bubble? there are industries which are only useful during a limited period in history during which they’re enormously beneficial but then quickly become essentially irrelevant - let’s say e-scooters for example, to be replaced w jet packs. Bubble or evolution?
The term bubble implies over-inflation of expectation vs reality, but more often than not it’s just the standard hype cycle applied to an actually significant new thing. Just cuz it loses impact over time and eventually fizzles out, does that retroactively make it a bubble?
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