“The thought popped into my head with regards to the issue of monetization of businesses — it’s the same as with real estate, where large corporations are subsidized by the money printer. They get preferential access not only to bank loans but also to equity markets, and this actually is a problem for people who are trying to start their own business, because now you’re competing for labor, for capital, for real resources against people who have an artificially lower cost of capital. And in my mind, that’s why entrepreneurship and being able to start a small business has gotten harder over time, versus under a Bitcoin standard it’ll actually be a lot easier than it is today, because you’ll be able to work for somebody else, save up money, not have to invest it — just save up money for a few years — and that’ll be enough to capitalize your business! You won’t have to save money for 10 years or 20 years to do a startup — you could save money for a few years and do a startup, because all of the investment assets that you will be paying for, whether it’s a computer or real estate or whatever it is, will be much less expensive in real terms. And so it’s going to be, in my mind, a much more dynamic economy than it is today where you have these ossified large businesses that profit at the expense of small entrepreneurs.”
— Pierre Rochard to stephanlivera (npub1hrn…jsct)
https://chowcollection.medium.com/stephan-livera-slp402-pierre-rochard-bitcoin-obsoletes-fractional-reserve-banking-3787b0c2ddd3
chowcollection /
npub1mm0…nm32
2023-03-18 14:49:11
Author Public Key
npub1mm0eraw9am3l8pjwas6t9r7fn34ge3zty5yg3n856rvds485342qlqnm32Published at
2023-03-18 14:49:11Event JSON
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"pubkey": "dedf91f5c5eee3f3864eec34b28fc99c6a8cc44b250888ccf4d0d8d854f48d54",
"created_at": 1679147351,
"kind": 1,
"tags": [
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],
"content": "“The thought popped into my head with regards to the issue of monetization of businesses — it’s the same as with real estate, where large corporations are subsidized by the money printer. They get preferential access not only to bank loans but also to equity markets, and this actually is a problem for people who are trying to start their own business, because now you’re competing for labor, for capital, for real resources against people who have an artificially lower cost of capital. And in my mind, that’s why entrepreneurship and being able to start a small business has gotten harder over time, versus under a Bitcoin standard it’ll actually be a lot easier than it is today, because you’ll be able to work for somebody else, save up money, not have to invest it — just save up money for a few years — and that’ll be enough to capitalize your business! You won’t have to save money for 10 years or 20 years to do a startup — you could save money for a few years and do a startup, because all of the investment assets that you will be paying for, whether it’s a computer or real estate or whatever it is, will be much less expensive in real terms. And so it’s going to be, in my mind, a much more dynamic economy than it is today where you have these ossified large businesses that profit at the expense of small entrepreneurs.”\n\n— Pierre Rochard to #[0] \n\nhttps://chowcollection.medium.com/stephan-livera-slp402-pierre-rochard-bitcoin-obsoletes-fractional-reserve-banking-3787b0c2ddd3",
"sig": "36d27aaf2373b9d808bf6f25d4d6da98d1a824d10aa440b7051caf132db63a3571e8cdbd2eeff4492c33532696dc875b0cce966e34cfb157d0eb21ee6ef433f6"
}