Designing, making, and selling a real thing that people are actually willing to pay more for that it took to make is hard. Taking bets on other people’s work is easy. The mindset that the point of the market is profit (not to encourage actually making new and better things) inevitable leads to more and more of this.
Wall st. is like professional sports if it was run by Vegas casinos that cared only about the their vig with complete disregard for the effect on the game, except in this game everyone gets hurt whether they choose to play or not
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