Boom: Bubbles and the End of Stagnation

The fiber business crashed and burned, but inexpensive fiber was key to the growth of YouTube, Netflix, and the rest of the streaming industry. The

In 1895 it issued a memo to oil producers announcing that henceforth it would ignore the market price entirely and transact directly with them at a “take it or leave it” price. 264 Over time, oil became a

As is often the case with bubbles,

These spillover effects are not mere coincidences. People learn by doing, but what they learn is not necessarily what they intended to learn at the outset.

it’s worth noting that both Vox and Fox News have used branding that is explicitly centrist but implicitly partisan.

in which financial speculation was anchored to the physicality of gold, recessions caused market crashes. Now a market crash no longer signals a recession—it becomes the recession itself. 53 Representation and referent collapse into each other; the signifier becomes the signified. Or, as Baudrillard puts it, “truth, reference, objective cause have

But they also represent a filtering out of the noise that can distract people from their mission.

Undoubtedly, scientific advancements such as the rapid development of the Covid-19 mRNA vaccine, for which Moderna developed a design in just two days, are awe-inspiring.

A taxonomy of bubbles: Speculative versus filter bubbles

The trouble is that low rates indiscriminately encourage long-term projects, while the biggest episodes of wealth creation come from building on a single theme.