A true bubble is when something is overvalued and intensely believed.

In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.

As you craft a plan to expand to adjacent markets, don't disrupt: Avoid competition as much as possible.

If you think your initial market might be too big, it almost certainly is.

We cannot take for granted that the future will be better, and that means we need to work to create it today.

I think that markets classically fail in cases where there are public goods that provide benefits that people cannot capture. The big debate is how big these public goods are, where they exist, things of that sort.

Distribution may not matter in fictional worlds, but it matters in most. The Field of Dreams conceit is especially popular in Silicon Valley, where engineers are biased toward building cool stuff rather than selling it. But customers will not come just because you build it. You have to make this happen, and it's harder than it looks.