Jeff Guo

They do have some other uses.

And actually, there's an interesting example from history here.

During the dotcom bubble, there was all this Internet hype.

So companies spent billions of dollars putting fiber optic cables into the ground, you know, to transfer people's data.

After the dot-com bubble popped, a lot of that fiber just sat there unused.

It was called dark fiber.

But that didn't turn out to be a total waste of money.

Eventually, companies did start using that so-called dark fiber.

It arguably catapulted us into the era of broadband.

A lot of that fiber is now carrying all the streaming video we're watching these days.

I just found a money-making machine.

Yeah, like, maybe as a society, we can take advantage of bubbles.

Because there are often situations where, as a society, we aren't spending enough money on something.

Research and development is a good example.

Companies typically underinvest in R&D because research is a public good, and some of that research can end up helping their competitors.

But in theory, and again, this is kind of an out there theory.

If somehow there's a bubble in some high tech industry, investors will start throwing money at those companies.

And the argument is maybe society will end up with more of the R&D that we need.

So this is an idea that, okay, in real life, markets are not perfect, there are flaws and imperfections, and a bubble, through the power of its delusion, can fix some of these problems.

So it's like two wrongs making a right.