A note from Daniel

Conclusion Part III: While ultimately destructive, bubbles also serve a function. They're the market's way of exploring new frontiers, of testing new possibilities. Many of the innovations we take for granted today— from cars to computers to the internet itself—were once the subject of speculative manias. Bubbles fund the infrastructure for future revolutions, even as they leave a trail of financial wreckage in their wake.

Daniel The Great Mental Models, Volume 4, page 199 · December 31, 2024 Save to shelf
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