But he just didn't live in the time in which the technology was available to do what he wanted to do, and it just happens that we do.

What do you think is the emerging sort of heuristics of how the market works? So let me give an example from software.

There's no inferior goods market for software.

There's no like cheap version of Excel or, you know, there's sort of one...

There was at one point.

There was at one point, and it didn't succeed, which is the point.

But in general, software has gone to one company, some horizontal, some vertical, being the best.

Because again, the conventional economic view is marginal productivity improvements, like you want to hire more people at higher levels of productivity because they can do more, and then you pay them a lot more because they can command higher wages.

I

was going to ask Mark why the East Coast and why Europe hasn't generated a Silicon Valley, whereas you have Detroit, but then Korea and Japan copies it.

And I think maybe he's actually already answered the question, which is maybe because they haven't had those 10,000 ex-returns, they haven't instilled the fear of FOMO.

And it's the fear of FOMO that means you've got to sort of take a trusting bet on a new person.

And maybe that's the kernel that creates a high-trust ecosystem.

A

huge part of that is when people think about this, it's intelligence but not imagination.

If you go back to 1950, there's some movie there where basically a single person is a cell in Excel.