Row 9302

Row ID: 9302 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 9302 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Hey thanks for giving an intelligent response :) I agree that more conditions than profit motive alone are necessary for the best innovation. But the profit motive is the fuel that drives people to keep working even when it's uncomfortable and no longer fun. And maybe more importantly- it allows people without much money to start businesses and pursue ideas that they wouldn't be able to afford just on curiosity alone

In a society without the profit motive, entrepreneurs and inventors wouldn't be able to raise the capital necessary for their innovations if banks and lenders didn't have faith that the business would make profit in the future and thus be able to pay the loan back with interest. If you remove the profit motive from society then you also remove capital investment and market liquidity, as people would basically only invest in stuff if they were friends with the CEO or personally liked the project.

Without the ability to attract investment for a good idea, the work of innovation would be available to only the already very rich in society, which was basically the situation in the middle ages, before the spread and success of capitalism. Normal people with great ideas that would benefit society would have no mechanism to make their ideas reality, because they'd have no mechanism to attract investment because there would be no mechanism in society to reward good investment

FieldValue
text Hey thanks for giving an intelligent response :) I agree that more conditions than profit motive alone are necessary for the best innovation. But the profit motive is the fuel that drives people to keep working even when it's uncomfortable and no longer fun. And maybe more importantly- it allows people without much money to start businesses and pursue ideas that they wouldn't be able to afford just on curiosity alone In a society without the profit motive, entrepreneurs and inventors wouldn't b…
label r/tech
dataType comment
communityName r/tech
datetime 2024-05-20
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Raw Record

{
  "text": "Hey thanks for giving an intelligent response :) I agree that more conditions than profit motive alone are necessary for the best innovation. But the profit motive is the fuel that drives people to keep working even when it's uncomfortable and no longer fun. And maybe more importantly- it allows people without much money to start businesses and pursue ideas that they wouldn't be able to afford just on curiosity alone\n\nIn a society without the profit motive, entrepreneurs and inventors wouldn't be able to raise the capital necessary for their innovations if banks and lenders didn't have faith that the business would make profit in the future and thus be able to pay the loan back with interest. If you remove the profit motive from society then you also remove capital investment and market liquidity, as people would basically only invest in stuff if they were friends with the CEO or personally liked the project.\n\nWithout the ability to attract investment for a good idea, the work of innovation would be available to only the already very rich in society, which was basically the situation in the middle ages, before the spread and success of capitalism. Normal people with great ideas that would benefit society would have no mechanism to make their ideas reality, because they'd have no mechanism to attract investment because there would be no mechanism in society to reward good investment",
  "label": "r/tech",
  "dataType": "comment",
  "communityName": "r/tech",
  "datetime": "2024-05-20",
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}
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