Comment by bigbadfeline
10 days ago
> [At dotcom time] There was a bubble, many non-viable companies got funded and died, and nevertheless the internet did eventually change everything.
It did, but not for the better. Quality of life and standard of living both declined while income inequality skyrocketed and that period of time is now known as The Great Divergence.
> He's (unsurprisingly) making an analogy to the dotcom bubble, which seems to me correct.
He's got no downside if he's wrong or doesn't deliver, he's promising an analogy to selling you a brand new bridge in exchange for taking half of your money... and you're ecstatic about it.
Thank you for acknowledging this. The internet was created around a lot of lofty idealism and none of that has been realized other than opening up the world's information to a great many. It made society and the global economy worse (occidental west; Chinese middle class might disagree) and has paralleled the destabilization of geopolitics. I am not luddite but until we can, "get our moral shit together" new technologies aren't but fuel on the proverbial fire.
Glad to be in agreement. The higher message here is that technology is no substitute for politics, cue crypto-hype which produced little more than crime and money-laundering. Without proper policies, corruption invades every strata of society.