"... whenever a techbro talks about 'disrupting an industry,' they mean: 'replicating an already existing industry, but subsidizing it heavily with venture capital, and externalizing its costs at the expense of the public or potential workers by circumventing existing consumer-, worker- or public-protection laws in order to hopefully undercut the existing competition long enough to bring about regulatory capture.'"
@bgcarlisle Louder for the people in the back!
I feel that many of these problems have a common cause: the rich *literally* have too much money for their own good.
It's why interest rates are so low (there's nothing particularly productive too invest in *that investors can extract money from*), why eg: Apple has hundreds of billions of dollars in cash (*they* can't find anything useful to do with it), and why Uber - whose business model is “loose ~$4B/year until magic” - is worth anything.
Scholar Social is a microblogging platform for researchers, grad students, librarians, archivists, undergrads, academically inclined high schoolers, educators of all levels, journal editors, research assistants, professors, administrators—anyone involved in academia who is willing to engage with others respectfully. Read more ...