most of commerce in America isn't actually high intent. Like how many years are we into e-commerce now? Like 30 years into e-commerce and e-commerce has never exceeded 20% of retail spend in America.
Well, once wealth is a function of of commerce, industry, and trade, it isn't land anymore. And this upends the world. If you think about the world today, who's rich, who's poor, who's powerful, who's not, it's often the degree to which the country is industrialized.
And Russia's never had a commerce-driven economy. China much more so under Deng Xiaoping, but recently Xi Jinping has been privileging the crony sector over the private sector and neither one has stable government institutions.
If you look at the S&P 500 now and you look at the amount of value from companies created in that, one could argue that actually almost all of the exuberance and hype was totally warranted and it in fact did change commerce in fundamental ways.
You already bought that phone, why should Apple be adding a 30% junk fee to all commerce you do, and why do they selectively apply it to some things and not others? I've always viewed this as deeply abusive and that it shuts down the competitive engine that once fueled the app and software economy.
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