One of the biggest differences between now and the past is how rapidly ideas become money. Now ideas can become money as soon as you put them on a server and set up credit card processing. (And cryptocurrency may soon eliminate the second step.)
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The limiting factor will be what Coase identifies as the boundary of the firm nearly a century ago
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it's worthwhile highlighting that across this spectrum, capital is abundant, ideas are in short supply and execution capability to bring these ideas to reality is the rarest of all
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Those ideas are also sucking up most of the capital. Developments which take time and capital are starved, in particular innovative ICs.
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That’s great, but it doesn’t explain the bulk of what’s going on for most people.
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Great perspective
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Ideas for making money should be made. Income will be based on an accurate and complete idea and planning. There are ideas that create economic prosperity.
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You are assuming that money (unit of labor) obtained from revenues of an idea is the only way to value ideas but as far as society is concerned, lowering these revenues as much as possible without stifling experimentation is much more profitable as it maximizes the idea’s reach.
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Don’t say that. Next thing that happens is the Democratic Socialists will sponsor a bill to eradicate “idea inequality”.
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I’ve spent the last few years thinking about
#platforms and tools to aggregate ideas and turn them into money (think distributed#teams +#crowdfunding). Definitely believe in this#future
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Could it be that the big benefit of this is yet to be seen as more jobs disappear due to automation?
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