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Naval

Free Markets Provide the Best Feedback

Naval

Naval Ravikant

Business, Technology

4.82.4K Ratings

🗓️ 3 December 2021

⏱️ 3 minutes

🧾️ Download transcript

Summary

Transcript http://nav.al/feedback

Transcript

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0:00.0

Mark Andreessen summarizes this nicely as strong opinions loosely held.

0:05.3

So as a society, if you're true seeking,

0:07.6

you want to have strong opinions, but very loosely held.

0:10.3

You want to try them, see if they work in the error correct if they don't.

0:13.6

But instead, what we get is either strong opinions strongly held,

0:17.4

which is the intolerant minority,

0:19.4

or we get weak opinions loosely held,

0:22.4

which is the compromise model where no one really takes blame,

0:26.3

no one gets credit, no one gets to try it the way that they want to,

0:30.1

and everybody can then fall back on real communism hasn't been tried.

0:34.0

Although in that case, real communism has been tried.

0:36.6

It just hasn't worked out well as a digression.

0:39.2

One of the common critiques that I hear people say we need to move to a post capitalist

0:42.7

word, capitalism isn't working.

0:44.4

Okay, well, what is your alternative?

0:45.9

And usually this is where people start fumbling because there aren't a lot of choices.

0:49.5

When you're trying to figure out how to divvy up credit,

0:52.5

divvy up resources and reward people for their work,

0:55.2

you essentially have two choices.

0:57.1

Feedback from free markets and reality,

0:59.6

and the best model for that is money,

1:02.0

or you have feedback from people,

...

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