Pope Francis has attacked unfettered capitalism as “a new tyranny”, urging global leaders to fight poverty and growing inequality in the first major work he has authored alone as pontiff…
In it, Francis went further than previous comments criticising the global economic system, attacking the “idolatry of money” and beseeching politicians to guarantee all citizens “dignified work, education and healthcare”.
He also called on rich people to share their wealth. “Just as the commandment ‘Thou shalt not kill’ sets a clear limit in order to safeguard the value of human life, today we also have to say ‘thou shalt not’ to an economy of exclusion and inequality. Such an economy kills..
If Hyperloop could succeed it would disrupt airline and rail travel as we know it and improve the whole economy with more economical and efficient transportation. There have been many innovative engineering designs and proposals but they are not taken seriously and have not been funded even if they could greatly benefit society and potentially be economically successful.
The entire culture of Silicon Valley, and entrepreneurship around the globe, has taken on a groupthink that prevents truly novel inventions, like the Hyperloop, from reaching the market. The result is a major loss. It’s a loss to our society. It’s a loss to our capital markets. It’s a loss to private investors. And it’s a loss to entrepreneurs.
The age of software is suffocating investment in improved largescale physical changes that require a lot more funding and patience to get to a lower return than software can provide.