[foogazi]

The bubble argument was hard to wrap my head around

It sounded vaguely like the broken window fallacy- a broken window creating “work”

Is the value of bubbles in the trying out new products/ideas and pulling funds from unsuspecting bag holders?

Otherwise it sounds like a huge destruction of stakeholder value - but that seems to be how venture funding works

[tim333]

The usual argument is the investment creates value beyond that captured by the investors so society is better off. Like investors spend $10 bn building the internet and only get $9 bn back but things like Wikipedia have a value to society >$1 bn.