Large firms don't really live in the competitive environment that would normally constrain them. The nature of competition is different in this world, and i don't think economists have come to grp with it very well. We're going into what i would call a very uncertain time for a lot of these things,. where we cold see a lot of change driven by this technology, ad we av to let it unfold. It's not a perfect free market solution, but it is better than where we've been in the past in these in these industries.
Michael Eisenberg, venture capitalist and the author of The Tree of Life and Prosperity talks with EconTalk host Russ Roberts about the secret of the Start-Up Nation, the role of principles in investing, and why he's optimistic about technology's contribution to humanity.