Paul Graham is a brilliant investor in new technology companies — or as I think they should be called, “JavaScript businesses.” But he said something the other day that betrays a fundamental misunderstanding about how our world works, one that is surprisingly common among educated people:
This is almost like saying that every time you order McDonald’s french fries expecting that usual, uniform, unctuous salty flavor, you are putting your trust in the McDonald’s corporate shareholders. After all, their investment is, in some way, premised on uniformity as a business model.
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