The best metaphor for what is happening is not recession or depression, but invasion by the virus.
With better technology, we could see the virus (testing), kill it (drugs), and shield against it (vaccines).
Without it we can only run from the virus (lockdown) or get attacked.
With better technology, we could see the virus (testing), kill it (drugs), and shield against it (vaccines).
Without it we can only run from the virus (lockdown) or get attacked.
You know the risk premium? Well, the US is currently paying the risk-averse premium.
50 years of regulations & lawsuits drove risk from the physical world to the virtual. Now we need to innovate rapidly, but don’t have the societal muscles to do that.
50 years of regulations & lawsuits drove risk from the physical world to the virtual. Now we need to innovate rapidly, but don’t have the societal muscles to do that.
The new left/right axis is whether virus or lockdown is the greater threat.
But with better tech this wouldn’t be a tradeoff, as you could stop the virus with a shorter (or nonexistent) lockdown.
We don’t have it yet, but there is a technological rather than political solution.
But with better tech this wouldn’t be a tradeoff, as you could stop the virus with a shorter (or nonexistent) lockdown.
We don’t have it yet, but there is a technological rather than political solution.
