6/ In stacked-for-profiteering environment, main asset you need to do business is large pile of concentrated capital. Bigger is better. Why?
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Replying to @vgr
7/ To jumpstart very rapid economic performance you need BIG numbers quickly. It takes a big bump to create growth on a $13 trillion base.
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Replying to @vgr
8/ That's why the go-to is energy (gas, oil, coal) and dismantling public sector institutions (allowing a "prime contractor" economy)
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Replying to @vgr
9/ A stacked-for-profiteering economy isn't growing wealth. It is moving it around in very large chunks, creating illusion of wealth-making
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Replying to @vgr
10/ The logic is mercantilist, zero-sum, even if it doesn't have a legible basis like land or mineral rights.
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Replying to @vgr
11/ But there is another kind of good-for-business: stacked for innovation. You need some capital, but more capital is not linearly "better"
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Replying to @vgr
12/ As modern startup tropes go, you don't even need 2 guys in garage with circuit boards anymore. 1 guy with a laptop at starbucks will do.
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Replying to @vgr
13/ What you *do* need is safe, liberal environment that rewards curiosity, allows people with diverse identities to live cheaply, together
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aren't the two opposed to each other? an environment that supports innovation threatens established wealth
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VC would be an example of profiteering off innovation. if you could buy stock in a liberal innovationy city...
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Knowledge capital intensive sectors seems to behave fundamentally differently from commodities in that regard.
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