Feb 16, 2021

Bill Bonner on George Gilder as pied piper of the 2000 dot-com bubble

Of all those who "got it," few got it as good as George Gilder.  Gilder's role in the Information Revolution was to justify the dreams of the masses.  Like Marx, Engels, or Lenin, he helped convince the lumpeninvestoriat that they could get rich without working by buying into technology they did not understand and stock in companies they did not know with money they did not have.  What was talk of gigabits of photons flying over glass fiber and multiplexing, pulsating transits other than the information revolution's answer to Marxist claptrap about dialectical materialism?  To the average investor, it was all weird and unfathomable.  But if it made him rich, why ask questions?

~ Bill Bonner, Financial Reckoning Day (2003), p. 17



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