Lester Golden
1 min readDec 18, 2024

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EJ Hobsbawm coined an aphorism to describe the demolition of pre-capitalist social capital creation reflexes and their commodification you describe: "capitalism saws off the tree branch upon which it sits." Unregulated, it tends to restore earlier forms of exploitation--serfdom, slavery, debt peonage.

https://medium.com/lessons-from-history/plutocracy-and-americas-default-fills-the-political-orphanage-and-realigns-politics-9f95117b7fda

But the system rewards with autonomy and creativity those with the intellect and talent to pick off the crumbs left on the table by its plutocrats. These are precisely those who know how to drink very carefully from the capitalist consumer, disinformation and FOMO firehose. Listen to Buffett partner and near centenarian Charlie Munger tell you how status-metering FOMO works: https://www.youtube.com/watch?v=u5TI8mPImPk (5min).

Humphrey Bogart was a good teacher of the psychology of money:

https://medium.datadriveninvestor.com/the-real-purpose-of-money-6f4ecbc5e2fe

Musk is a ponzi-scheming pyramid building fake it til you make it charlatan. His incompetently designed autonomous driving system may kill enough pedestrians to be his undoing.

Capitalism, like democracy, is the worst system, except for all the others that have been tried.

This latest liquidity event took nearly 8 years. I wouldn't call that "quick" capitalization. Our other unicorn has taken six years.

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Lester Golden
Lester Golden

Written by Lester Golden

From Latvia & Porto I write to share learning from an academic&business life in 8 languages in 5 countries & seeing fascism die in Portugal&Spain in1974 & 1976.

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