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by interlagos
5300 days ago
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It is also an instructive example of novelty. His initial experiment was reported very widely, and tens or hundreds of thousands lined up to "prove it could work", putting their dollars to demonstrate it. Once the novelty wore off, the viability of the approach disappeared. The opt-in payment ratios started generously, and rapidly approached zero. Little can be learned from CK's experiment because it was novel -- it got covered far and wide, encouraging a lot of people to "show" that the model works. |
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What can be demonstrated, empirically, is that money can be made without imposing draconian controls.