Boom: Bubbles and the End of Stagnation

bubble can be a collective delusion, but it can also be an expression of collective vision. That vision becomes a site of coordination for people and capital and for the parallelization of innovation.

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

Unsurprisingly, the Human Genome Project also exhibited a bubble dynamic, driven as it was by an ambitious vision and characterized by excessive government overinvestment.

one advantage of the bubble dynamic is that it can bring together people with wildly varied motives.

Both kinds of bubbles—the classic speculative financial bubble and the filter bubble—can lead to good and bad outcomes.

Fields ranging from physics and neurobiology to cognitive psychology and quantitative finance have recently experienced a reproducibility crisis, wherein their findings have been impossible to replicate.

Toward a rediscovery of risk

He even ordered employees to take lie detector tests. (One worker’s came back clean, while everyone else refused to take it.) For the

Yet passive investing destroys the price discovery process. No risks are taken and no investments are made based on a determinate vision of the future, because all that matters is the size of a stock or derivative and whether it will get included or excluded from an index. As a result, financial markets have become homogenized, dominated by a few p