alt Hacker NewsIf you’re asking with genuine curiosity: whatever venture was not invested in because it went to buying Tech Titan stocks instead.
Concentrated wealth doesn’t circulate well, which leads to inflation.
I thought we all had some economic chops on this forum?
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Concentrated wealth along with a lack of currency circulation results in deflation, not inflation:
https://en.m.wikipedia.org/wiki/Velocity_of_money
Pretty ironic that you'd call out economic chops when this is a very basic and well understood principle. Perhaps be more cautious and less confident in your presuppositions going forward.
Yes and: Our economy now has fewer young(er) small- to mid-sized companies. The kind that have historically been the engines for creating jobs, for creating wealth (vs merely transferring it), and innovation.
I was excited by all new green energy startups due to Biden Admin's policies (BIL, IRA, etc). Oh well...
I know you know all this; I'm just compelled to repeatedly point out the obvious.
Wealth doesn't circulate. Currency circulates. They aren't the same thing. And a "concentration of wealth" can't lead to inflation or debasement, I'm not sure what that sentence means.