The untold part of the story is how the move to central planning destroyed the greatest seedbed of innovation in American history, the tech startup economy. The startups are still there, but the only thing they innovate in is telling investors compelling stories
-
-
Show this thread
-
It's not like Softbank came along and ruined everything, either. We've had this pathology for a decade now. Remember Color, with 41M in funding for nothing? Yo, a joke company that raised $1.5M? Secret, whose founder looted a fair chunk of $35M?
Show this thread -
The whole tech economy since 2008 has been trickle-down economics disguised in a robot costume
Show this thread -
Remember Path, who raised $66 million, mined everyone's address book, and then went up in a cloud of nothing? Path was a lifestyle business par excellence—its founder now enjoys a comfortable tech retirement in Helena, where he of course dabbles in angel investment.
Show this thread -
I'm mentioning these companies not because they failed—that's how the game is supposed to work—but because at no point did any of them (except a reluctant Quora) try to make any money.
Show this thread
End of conversation
New conversation -
-
-
But let us not forget that a centrally planned economy won the space race, and made sure there were loads of JPL engineers looking for something to do in the whole Palo Alto area toward the end of the 1970s
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Heyyyy
@threadreaderapp can you please unroll this into your magical tweet juicer for me? Thanks! -
Bonjour please find the unroll here: Thread by
@Pinboard: "This article describes the classic failure modes of a centrally planned economy, but for some reason calls it "overcapit […]" https://threadreaderapp.com/thread/1194373135002259456.html … Talk to you soon.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.