Technology bubble has many similarities with railways in the 19th century
Anyone who has ever traveled around Britain by train will have discovered two things. One, they are a relatively poor way of getting from place to place. And two, as if in compensation, they make a fine refresher course in industrial and economic history. As you kill time between trains, look closely at the blackened stone and brick of the old Victorian stations: if those walls could speak they could tell you everything you need to know about how markets have a tendency to cyclical excess, and how technology bubbles can crash without necessarily destroying the technology that first brea...
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