Comment by rchaud
Except they behave less like shrewd investors and more like bandwagon jumpers looking to buy influence or get rich quick. Crypto, Twitter, ridesharing, office sharing and now AI. None of these have been the future of business.
Business looks a lot like what it has throughout history. Building physical transport infrastructure, trade links, improving agricultural and manufacturing productivity and investing in military advancements. In the latter respect, countries like Turkey and Iran are decades ahead of Saudi in terms of building internal security capacity with drone tech for example.
Agreed - I don’t think they are particularly brilliant as a category. Hereditary kleptocracy has limits.
But… I don’t think there’s an example in modern history of the this much capital moving around based on whim.
The “bet on red” mentality has produced some odd leaders with absolute authority in their domain. One of the most influential figures on the US government claims to believe that he is saving society from the antichrist. Another thinks he’s the protagonist in a sci-fi novel.
We have the madness of monarchy with modern weapons and power. Yikes.