Jul 27, 2017 · 1 min read
Capital is an ever-evolving concept. Many people still see George Bailey’s monologue during the Bailey Savings and Loan bank run in It’s A Wonderful Life as the basic role of capital. But capital is hyper-competitive. As soon as one scheme becomes adaptive it morphs. I think silicon style growth obsession is giveing way to other schemes like derivative trading and speed and volume trading. It’s still not functional except for winners
