| ▲ | sneak 2 hours ago | |
Billion dollar valuation startups used to be called unicorns because they were mythical creatures that didn’t exist. Now we have a trillion dollar startup, still raising money, implying that the status quo isn’t remotely their final form. I understand AI is actually, no-bullshit, changing the world forever, including the global economy. That said, how much of this order of magnitude jump since “unicorn” got coined can be directly attributed to USD inflation? | ||
| ▲ | paxy an hour ago | parent | next [-] | |
> Billion dollar valuation startups used to be called unicorns because they were mythical creatures that didn’t exist. If they didn't exist then you wouldn't need to coin a term to describe them. In reality in the mid 2010s when "unicorn" started being used there were already hundreds of them. | ||
| ▲ | delecti an hour ago | parent | prev [-] | |
> how much of this order of magnitude jump since “unicorn” got coined can be directly attributed to USD inflation? "Inflation" is probably not quite the right term, or maybe it implies too broad or too narrow of a phenomenon. I think we're experiencing the result of decades of taxes being too low on the rich, so there's too much money chasing too little actual real productivity growth. The Buffett indicator keeps ticking higher and higher, because the rich have too much money. It's gotta go somewhere, so everything is turning into tulips. | ||