Comment by m101
15 hours ago
It will be validated but that doesn’t mean that the providers of these services will be making money. It’s about the demand at a profitable price. The uncontroversial part is that the demand exists at an unprofitable price.
That really is the $800 billion elephant in the room.
This “It’s not about profits, man, it’s about how much you’re worth. The rules have changed. Don’t get left behind,” nonsense is exactly what a bunch of super wrong people said about investing during the .com bust. Even if we got some useful tech out of it in the end, that was a lot of people’s money that got flushed down the toilet.
But the survivors became some of the biggest and most profitable companies on the planet: Google, Amazon, Ebay/Paypal. And of course, the people selling shovels always do well in a rush (Apple, Adobe, etc).
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