
The Triumph of Intangibles
Risk Talking
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Can We Expect More Volatility in an Intangible Economy?
In a more intangible driven economy, I mean, assuming we even had better institutions, can we expect more volatility? I think in a number of ways we can. Today's best business will not necessarily be tomorrow's best business. You would expect over time there to be quite a lot of mean reversion. If we see less of it, we will see the world will feel more random. In an intangible economy, the opposite happens. Because these intangibles are so valuable when you combine them in the right way,. It not only means that if you're a firm that's got lots of really great intangibles and a great business model based on them, it doesn't matter how
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