I have this theory that during periods of intense creative destruction, old institutions that survive at all turn into de facto banks, defined primarily by assets they manage to freeze and build moats around. Eg. Catholic church during reformation turned into a real estate bank
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The weirding: today's banks that survive creative destruction become crowdfunding platforms.
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Serious question: do you think that software-related creative destruction will grow larger in the next decade or is it starting to diminish?
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That is actually an interesting idea.
I can apply the same principle to the American auto industry in the 1970s, the fall of Rome, and even the current political turmoil.
This concept may be useful.
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Periods of creative destruction are also periods of supply chain dissolution. Bank = reservoir. Reservoirs are how you smooth out large spikes in availability flow.
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Yeah, I'm generalizing that observation which several people have made, most recently Rushkoff. I think you can draw interesting conclusions if you generalize idea of a "bank" to any institution that creates rents out of long-lasting assets that can survive institutional churn
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