This is correct. http://slatestarcodex.com/2017/05/11/silicon-valley-a-reality-check/ … It's also likely to get less traffic than peoples' Juicero hot takes.pic.twitter.com/2sVP1JcjW7
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And I mean "don't know" literally - if some smart economist wants to tell me it's a lot, I'll consider believing them.
So the standard defense of hedge funds etc. involves a discussion of price signals as conveying useful info across parts of the economy. 1/
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