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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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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Why must you continue to neglect Magic Leap with appropriate ridicule, another We-alike squandering untold billions?
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I hadn't heard of it!
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