Varoufakis on Valve
Check out this Econtalk Podcast with Valve Software’s ‘resident economist’. If you’re reading this blog, you’ll probably find it interesting.
Like Netflix, Valve’s founder, Gabe Newell (who a hero of mine in the late ’90s) realized a while back that the old hierarchical business model was outdated in his industry (making video games). I suspect this is true of an increasing array of industries.
As I’ve been saying lately, it is easy to get depressed when you read the financial media. I feel particularly gloomy when I stand back and fathom how grotesquely authoritarian the European Union has become. Things are better in America, but only by degree (and tempered by having to live with Americans). The left’s big idea is a minimum wage (please), and right…well doesn’t have many ideas as far as I can tell. Anyway, a handful of smart risk takers are quietly rebuilding the world.