9/ In fact, the fact that old economy ONLY does plausibly justifiable things chosen by committees of wise graybeards should arouse suspicion
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10/ What do you think is more likely: planned soviet style capital allocation by graybeards is *actually* wiser or a theater of wisdom?
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11/ Those who'd rather see $ go to "real" problems *especially* don't get it. $ doesn't go there *because* graybeards in charge screwing up
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12/ This is actually why top-down attempts to "catalyze" innovation or worse "harness" it for a specific cause usually fails imo.
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13/ Innovation is about sidelining graybeards who claim they know better, enabling *mechanism* that might produce things like Yo.
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14/ Criticizing a working *mechanism* because it produces outcomes you don't like is like criticizing gravity because it sometimes kills you
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15/ Criticism directed at things like Yo is ultimately about wanting your values to prevail over others. You can do 3 things in response.
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16.1/ You could fight for higher taxes so politicians could fund your favorite things instead
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16.2/ You could work to *deregulate* your underserved sectors so it can compete with Yos of the world for efficient capital.
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16.3/ Or you could try to *regulate* innovation to prevent things like Yo from ever happening. Say an "idea licensing" bureaucracy.
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