| ▲ | garrisonj 13 hours ago | ||||||||||||||||||||||||||||
It’s important to keep in mind that railroads, airplanes, and the internet also caused bubbles. Just because of an invention is useful and world changing doesn’t mean it won’t cause a bubble. | |||||||||||||||||||||||||||||
| ▲ | TheAlchemist 12 hours ago | parent | next [-] | ||||||||||||||||||||||||||||
Exactly that. There was a very nice talk by Warren Buffett explaining that to business leaders at the height of the dot-com bubble - if I remember correctly it's full text is the introduction to his biography 'The Snowball: Warren Buffett and the Business of Life'. Airlines are a great example - they are everywhere, nobody can imagine life without them, and yet they are yet to make any money ! Maybe they will figure it out before oil runs out on planet Earth. As for Buffett speach - ther is a specific quote about airlines in it: "If a capitalist had been present at Kitty Hawk back in the early 1900s he should’ve shot Orville Wright" | |||||||||||||||||||||||||||||
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| ▲ | somewhereoutth 13 hours ago | parent | prev [-] | ||||||||||||||||||||||||||||
Conversely, just because an invention causes a bubble doesn't mean it is useful and world changing. | |||||||||||||||||||||||||||||
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