Mostly nitpicking but want to add that not all monopolies are bad because they jack up prices. That’s the whole argument about Amazon and WalMart with lowering prices past the point of sustainable commerce - loss leaders and the like. You can kill industries by undercutting pricing and while that’s good for “consumers”, it’s a monopolistic practice that has downstream impacts through the chain of production that is ultimately bad for people, bad for choice.
The Moritz piece was the mask off moment for me. The issue with SV “culture” is that it considers itself as a holistic enlightened path whereas it’s chronically one dimensional and more rabidly capitalist than Wall St.
At least in finance, once you “make it” you spend your time buying art and attempting to act cultured. There’s an acknowledgment that there’s something else out there beyond making money.
Mostly nitpicking but want to add that not all monopolies are bad because they jack up prices. That’s the whole argument about Amazon and WalMart with lowering prices past the point of sustainable commerce - loss leaders and the like. You can kill industries by undercutting pricing and while that’s good for “consumers”, it’s a monopolistic practice that has downstream impacts through the chain of production that is ultimately bad for people, bad for choice.
The Moritz piece was the mask off moment for me. The issue with SV “culture” is that it considers itself as a holistic enlightened path whereas it’s chronically one dimensional and more rabidly capitalist than Wall St.
At least in finance, once you “make it” you spend your time buying art and attempting to act cultured. There’s an acknowledgment that there’s something else out there beyond making money.
Nuanced, well-written piece. Thanks for sharing your thoughts on this.