For sure. The unicorn era is characterized by an oversupply of venture capital that gets spent well in advance of proportionate proof of utility. E.g., Theranos and WeWork. Or pretty much the whole [1] of the metastasizing crytpowhatever space. Layoffs in nonproductive companies are good, IMHO. And the sooner the better, as the longer someone spends in a bubble, the harder it is for them to adapt when the bubble pops.

[1] Not your personal favorite, of course. That one's the pony in there somewhere. https://quoteinvestigator.com/2013/12/13/pony-somewhere/

Netflix isn't an NFT and just because they have competition now doesn't devalue them as first mover with millions of subs.

I find those to be exceptions to most companies in our economy. Construction of housing, food, medicine, water, army/police are your base levels.

An NFT marketplace is a similar to gambling or derivatives. The value is potential income for people.

"value" is an ambiguous word. I think you understand it as "something people are willing to put money into", which certainly covers gambling.

Another definition of "value" is something which increased the economic output, a positive-sum game. Thus gambling (which is zero-sum) does not create value.

Derivatives do create value in the second sense, in that they can be used to protect against risk, thus creating value (or allowing the creation of value). Yes, they can also be used for the equivalent of gambling, but they have additional uses.

> An NFT marketplace is a similar to gambling or derivatives.

Derivatives have real utility.

Just to be clear, gambling is a net societal negative. For every dollar that goes in, less than a dollar in income comes out. It's going to happen, but let's not pretend that it's value-creating.

I don't see how you can say this. The 2 most valuable tech companies started in the 2000s are Facebook and Google. Those 2 companies are glorified Ad Companies that happen to provide a service so they can aggregate data to sell more ads.

Other than organizing the information of the internet (lately it is debatable as to how well they have been doing this lately) via google, what value addition would you say facebook or google is providing?

Same thing with Uber, now that VCs are no longer subsidizing Car rides for the entire world, it's just a more expensive cab.

What are the tech ventures that have been adding value addition to society. Based on the experience i've had with family members becomes complete Q psychos i'd say net negative on facebook's part and they dont even build anything.