alt Hacker NewsRealistically though, with the demographics as they are, aren't these young men just throwing dice to gamble against and take the money of other young men? Isn't this a 0 sum game?
Or is it more young men vs the establishment where the establishment wins the vast majority of the time but occasionally a young dude makes the right longshot bet?
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> Or is it more young men vs the establishment where the establishment wins the vast majority of the time but occasionally a young dude makes the right longshot bet?
Seems like the latter - except that not only describes how people perceive gambling, but the entire economy considering startups, silicon valley, the current crop of tech billionaires and how they made their fortunes, etc.
So, why not gamble on crypto, NFTs, or prediction markets? Might as well go for the longshots since everything is a longshot anyway
I mean you could be describing society as it already existed. It is what itself capitalism promotes, gambling just seems a bit more direct. When 99.9% of people apply for a job, they are directly competing against other workers in a zero sum game. Maybe a few years down the line they might open up more jobs so over long enough time spans its not zero sum, but for the person seeking a job at that very moment, it is zero sum. Our economy is zero sum in the short term, its not like people can go freeze themselves in cryostasis and wait a few decades for prospects to be better or the economy to expand, they either earn money now, or they throw that opportunity cost into the trash to never be returned.
It's both
It's a negative sum game when you account for the house rake.