This article describes the classic failure modes of a centrally planned economy, but for some reason calls it "overcapitalization" instead. Whatever you call it, the tech part is a distraction. This is what happens in any society, at any time when money is assigned by capricehttps://twitter.com/ahcastor/status/1194340426511273984 …
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The whole tech economy since 2008 has been trickle-down economics disguised in a robot costume
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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.
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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.
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Silicon Valley is secretly a documentary
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Not even joking. I actually read a piece a while ago that said they had to TONE DOWN some of the stories they adapted into jokes.
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What was that crazy trendy payments startup with a young Stanford founder that blew up after raising like $100M?
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I first thought of Clinkle but that was $25Mhttps://en.wikipedia.org/wiki/Clinkle
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Hell, Webvan was a pretty clear example of this a decade before that.
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Oh, Yo. Such sweet, fond memories of downloading, then not using you for anything at all.pic.twitter.com/Q41MXBQnI0
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