The Digital Economy Should Be about Capital Creation, Not Extraction

  1. The bizarre part is, he seems to think he's making a new criticism (he cloaks himself in being a glorious heretic!). Dude, this is really, really old heresy, and I suspect his gray hair means he's old enough to know this.

  2. He got point … make sense . Uber driver is Medicare and uber worth over 100 billion ???? First when I start driving for UBER it was 15% cut for uber in 3 Years uber takes 30% of the Driver’s income

  3. why is this neo liberal pedagogue telling me to work for the man and make him money because its "fun"?

  4. "You need to be selling something. You need to be making money in an ongoing way. … I know that's heresy."

    This should really tell you something about the way the economy is run

  5. Generally I don't agree with this guy. But in this video he made several good points. I lived through the dotcom bust. Basically, successful entrepreneurs would build businesses then sell them. Soon after the business would go out of business. The reason was obvious once the entrepreneur and visionary leaves the business the business is blind. This is another reason why socialism fails because their goal is to remove the capitalist from the business.
    He should have mentioned GE they were notorious for not creating value in recent years and now their business is failing apart. Part of the problem was the tax code incentivized increasing stock value rather than profits. This is what happens when socialism interferes with capitalism. If the tax code was changed as he mentioned in the video a lot of the damage done by the government would be repaired.

  6. Describe a dystopia. Propose a utopia.

    Things aren't that bad. Things won't be that good.

    And vice versa.

  7. Couldn't continue listening to Professor Clown.
    His kind are really dangerous when they talk about economy while hold irrelevant nonsense major.
    Milton Friedman is turning in his grave right now because of these people talking about things they do not understand.

  8. Greed forces this, always has always will. Tax policy won’t change anything there will always be vultures!

  9. Originally, it was about what the business offered. Now it seems more about the business as the product.

  10. PROFESSOR OF MEDIA THEORY ?? WTF That's taken fucking a – whos paying that bill. I want belly button fuz theory .. THOSE WHO CANT DO .. TEACH >. and this guy is taching .. STUPID and Minor in LEACH ..

  11. The people running these companies make tons of money. Claiming "it doesn't work" won't change that. You won't convince them that their billions of dollars don't exist.

    Do you take issue with the morality of their actions? List the immoral actions that would concern consumers and offer a pragmatic solution.

  12. While he is right that there are moral issues with tech corporations, he makes the worst arguments against them. It's like controlled opposition.

  13. you kinda sorta need both, you need some companies to buy, develop and sell companies and you also need new business ideas, the reason why you need the big parental companies is that they have the resources to give a new idea platform they otherwise wouldn't have gotten because of lack of resources, for new ideas,you need proper education, not a business model, ideas come out of brain, not a business model

  14. if i know marshmallow experiment, people like to see tangible results asap, i don't know may people who are willing to wait till the building is constructed and then committing to the idea of getting 120 dollars worth of pizza in the future over a long period of time, and i am sure realistic businesses will require a lot more monetary commitment for longer period, most of the time in millions which is not a secure personal level investment to encourage crowd funding, it could work but persuading so many people to bet on a potential business is a tricky business because the business could fail and because of marshmallow experiment, banks have ways to get their money back even if the business fails, not in personal level dubious investments

  15. He said what is needed to solve the whole ordeal. Just remove corporate tax and decrease dividend taxes. And keep capital gains at or about 1/3 of profit/loss. This will incentivise processes that are sustainable.

  16. Sadly, the current model does work extremely well in an egoistic, short-term sense. It does not work in a societal, long-term "big picture" sense of "economy".

  17. I would never invest money in a pizza shop in exchange for pizza, because the pizza I receive in exchange for my money is:
    1) Worth less than the money.
    2) Guaranteed to depreciate in value very quickly.

    I suppose I might be able to sell my interest in the pizza (before claiming it, so the pizza is fresh) to someone else for slightly more than it cost me, but that seems like more work for less income than simply doing a little overtime in my regular job.

  18. This guy is talking everything I've been designing around for years to create … I need to reach out to him.

  19. P2P has some merit and future. However, if Reagonomics has legitimacy these days, we are all threaten in the modests gains, for what Reagan did best is lie….

  20. People suck and we will kill ourselves until we self extinct! We are all currently suffering because we are selfish, lazy, and ignorant!

  21. …I don't know what this guy is smoking, but extracting wealth is way easier when you can influence government to allow you to do it. So the rich extract, and screw the rest of us…the new normal.

  22. So your solution to the economy having made scams into an institution is… crowdfunding.

    Good luck!

  23. But if I have no education; no skills, no knowledge, and no imagination for the creation of new products, then the only way I can make money is by buying and selling other peoples skills, and wealth. Right?

  24. Hoarding money causes money to stagnate. Money can't do the job it needs to do unless it's flowing freely. When individuals & businesses are allowed to HOARD money, to take it out of circulation & tuck it away in big piles, we are allowing them to actually destroy the real value of that money. Hoarded money is money that has ceased to exist to the rest of the world. It doesn't even help the hoarders – stagnated money shuts the money machine down for EVERYONE.

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