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[–]fschmidt 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

George Soros made this point in his idea of reflexivity. Basically he says that bubbles are formed as wealth allows bad businesses to succeed, but eventually this is taken too far and the whole thing collapses. Currently we are in a huge bubble backed by the dollar. All the garbage businesses and other types of garbage like Bitcoin will collapse when the dollar collapses. Then real value will matter again.

That said, there are 2 valid reasons why the dominant tech companies succeed. The first is that their core software was written before the West became depraved, and this software is probably only degrading slowly. And second, there is no real competition. There are almost no good programmers left in the world, so there is no competition for established tech companies.