"much of the wealth isn’t a reflection of labor or even invention—it’s a gain based on the negative externalities and private monetization of an unrecognized public good—the network effect—with no associated compensation to the public." @hussmanjp.bsky.social www.hussmanfunds.com/comment/mc25...

also, from the above, "ultimately, the strongest consumer benefit and economic growth goes hand-in-hand with the erosion of profits." both are great points to remember.