We need more prime of each, is the shortage I am referring to — quality over quantity. Today Silicon Valley is chockfull of subprime investors (meaning carrying a uniform investment thesis in massive collusion) who perpetuate the intake criteria of predominantly subprime wannabe entrepreneurs going for gold, as the saying goes. The good old gold-rush all over, with the scarcity of gold equal to the shortage of good money.
As a result, much innovation born today, that manages to enthrall the clueless investor – first – and the innocent public as the greater-fool with lofty valuations and even exits – last – produces, when the dust of the rush has settled, deplorable and non-renewable societal value. And is unlikely to leave any lasting impression on the strengthening of the evolution of humanity, and thus by its negative footprint, will be shortening it.
The state of innovation (save for the Elon Musks of this world) today reminds me of the tobacco industry, great returns-on-investment 30-years ago, now with respiratory disease as the resulting leading cause of death we are all paying a hefty price for. We will all pay a hefty price for the dumb absolutism deployed by cheap technology, fed by mind-numbing advertising, that amidst much self-infatuation and jubilation, fails to strengthen the diversity of societies, and instead mutes them into grandiose schemes of manufactured groupthink.
To fix this mess, all we need is a system that produces an evolutionary meritocracy, based on a relativity theory of freedom in compliance with the innate relativity of humanity. One that breeds prime investors to attract the risk and entrepreneurs that are equally prime in their understanding, subjugation, and respect for evolution.
The system will determine what can be discovered in the words of Albert Einstein. And we built the wrong system to perpetuate innovation the world must care about (to stave off our otherwise anthropogenic demise).