At the time I was in college, this was basically how the global economy worked...
This chart assumes that the total cost of production increases as supply increases. When a car company makes a new vehicle, the 10th car costs the same to manufacture as the 1000th.
But software doesn’t work like this. Microsoft might spend a lot of money to develop the first unit of a new program, but every unit after that is virtually free to produce.
Unlike the goods that powered our economy in the past, software is an intangible asset -- “something you can’t touch.” And it’s not the only example: data, insurance, e-books, even movies work in similar ways.
The portion of the global economy that doesn’t fit the old model just keeps getting larger. But the rules that govern the economy haven’t kept up. This is one of the biggest trends in the global economy that isn’t getting enough attention.
If you want to understand why this matters, I highly recommend the new book “Capitalism Without Capital” by @haskelecon and @stianwestlake. Here’s my review:
I've been getting replies about Jonathan Yaniv's predatory behavior from people in the trans community. While it's wonderful to see the support for women, I'm bothered by the suggestion that Yaniv isn't "really" trans.
President Trump getting ahead of Gen. Mattis let the president write the chyrons. They're being rewritten now because this is clearly a complete repudiation of the American president, even suggesting Trump is aligning with our enemies... (thread)
1) The military tribunal theory is taking off. As much as I would like that, I don’t think so. I think these men have done their jobs and Trump no longer needs them. These men won their battles. Behind closed doors, these men purged the enemies of We the People. We won. https://t.co/OvpimINcqj
New Q: Ryan (age 48) announced retirement on 11 Apr so he could "spend more time with his children." It appears his CoS, Burks, was involved in #SpyGate coup attempt vs @POTUS. More Rs have announced resignations than Ds. Ds hoping to stop what's coming. https://t.co/w93LzsgMbV https://t.co/JM2F5t4Lec
1. Today is my 50th day tweeting about @notredame driving out a kid with epilepsy by refusing an accommodation needed to signficantly decrease chance of his death. I'll continue til they apologize to him. As promised, in honor of this milestone, today's tweets will be special...
WOW, interesting! - A Hawker 800XP business jet (reg M-VITO), reportedly owned by Yevgeny Prigozhin, landed at Wilson Airport (WIL, HKNW), Nairobi, Kenya three days ago. Rumor is that it landed after closing, IE no ATC, no runway lights, no immigration. https://t.co/J1hcE2vOXk https://t.co/zpRm7KuBMC
Did you know that mammy market was named after a woman called Mammy Ochefu? Yes yes! Every military barrack in Nigeria has a place called ‘mammy market’, a place close to the barracks, where soldiers’ interact and buy their daily needs. In 1955 at Enugu, the market was named https://t.co/OvrPiWACXO
It was gathered in Guardian that President Buhari, while commissioning the new terminal building, said the ‘Federal Government was developing Nigeria into regional air transportation hub and assuming its leadership in the aviation sub-sector in Africa.’ https://t.co/TPbRFWouMj