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Why is it so hard to buy things that work well?

danluu.com · 8,872 words · saved by 4 readers

There's a cocktail party version of the efficient markets hypothesis I frequently hear that's basically, "markets enforce efficiency, so it's not possible that a company can have some major inefficiency and survive". We've previously discussed Marc Andreessen's quote that tech hiring can't be inefficient here and here:

Why is it so hard to buy things that work well? There's a cocktail party version of the efficient markets hypothesis I frequently hear that's basically, "markets enforce efficiency, so it's not possible that a company can have some major inefficiency and survive". We've previously discussed Marc Andreessen's quote that tech hiring can't be inefficient here and here : Let's launch right into it. I think the critique that Silicon Valley companies are deliberately, systematically discriminatory is incorrect, and there are two reasons to believe that that's the case. ... No. 2, our companies are d

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