Jeff Guo

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.

Everybody needs more chocolate in their life, Nick.

Finding synergies in my stomach.

This episode was produced by Willa Rubin and edited by Marianne McCune.

It was fact-checked by Sierra Juarez and engineered by Sina Lafredo and Robert Rodriguez.

Alex Goldmark is our executive producer.

It's Planet Money.

Okay.