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MARKETPLACE vs BATTLEFIELD
The “marketplace of ideas” is a perfect metaphor for how public beliefs work.
The problem is, we actually treat it more like a battlefield.
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The “marketplace of ideas” is a perfect metaphor for how public beliefs work.
The problem is, we actually treat it more like a battlefield.
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In a marketplace, the winning move is to bet on the underdog. Find value and double down on it before others catch up.
On a battlefield, the winning move is to double down on the guy who *seems to be winning.* This way, he won’t saunter over and kill you when he does win.
In a marketplace, the winning move is to bet on the underdog. Find value and double down on it before others catch up.
On a battlefield, the winning move is to double down on the guy who *seems to be winning.* This way, he won’t saunter over and kill you when he does win.
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But ideas won’t kill you if you fly the wrong flag, and the market won’t kill you if you’re only a little right.
But ideas won’t kill you if you fly the wrong flag, and the market won’t kill you if you’re only a little right.
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On a battlefield, winning is being #1. There are “no points for second place.”
In the market, winning isn’t being #1. It’s being early. There are points for every place, except *late*.
On a battlefield, winning is being #1. There are “no points for second place.”
In the market, winning isn’t being #1. It’s being early. There are points for every place, except *late*.
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Ideas generally have some value. People deserve fractional points for being fractionally right. Everyone’s trying their best.
Battle-losers generally don’t have value. They don’t get to write the rules, they don’t get to make demands, and they don't get to take the spoils.
Ideas generally have some value. People deserve fractional points for being fractionally right. Everyone’s trying their best.
Battle-losers generally don’t have value. They don’t get to write the rules, they don’t get to make demands, and they don't get to take the spoils.
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If you’re outnumbered 50 to 1 on the battlefield, the outcome looks hopeless.
If you’re outnumbered 50 to 1 in the marketplace, the outcome looks *potentially amazing.*
If you’re outnumbered 50 to 1 on the battlefield, the outcome looks hopeless.
If you’re outnumbered 50 to 1 in the marketplace, the outcome looks *potentially amazing.*
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If we were really participating in a marketplace of ideas, it would be exciting and tantalizing to seek out under-appreciated ideas.
If we were really participating in a marketplace of ideas, it would be exciting and tantalizing to seek out under-appreciated ideas.
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Seeking under-appreciated ideas isn’t fun for most people, because ideas are secretly a battlefield.
We all feel as though someday, the people who were right will kill the people who were wrong.
Seeking under-appreciated ideas isn’t fun for most people, because ideas are secretly a battlefield.
We all feel as though someday, the people who were right will kill the people who were wrong.
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There’s no discovery on a battlefield of ideas. There’s only a fight.
There is discovery in a marketplace of ideas — discovery via price discovery.
There’s no discovery on a battlefield of ideas. There’s only a fight.
There is discovery in a marketplace of ideas — discovery via price discovery.
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To create a public pursuit of discovery, we must replace the implicit “battlefield of ideas” with an explicit “marketplace of ideas.”
It will be the first ever to exist, literally or metaphorically. http://ideamarkets.org
To create a public pursuit of discovery, we must replace the implicit “battlefield of ideas” with an explicit “marketplace of ideas.”
It will be the first ever to exist, literally or metaphorically. http://ideamarkets.org
