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by human20190310
2456 days ago
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I really wish the author had sensed the limits of his argument, because I think the point he's trying to make is basically correct. He's just stretching it to the breaking point by invoking Amazon and the subprime crisis. If he'd left the stretch goals out of it, it would have stood as a perfect foil to the avalanche of "meta-meta-meta analysis of everything except where the money's gonna come from" in the Stratechery article [0] also up on HN now. [0] https://stratechery.com/2019/neither-and-new-lessons-from-ub... |
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It's the same point Stoller is trying to make: Financiers "find big markets and then dump capital into one player in such a market who can underprice until he becomes the dominant remaining actor."