To the extent that markets are efficient, that narrow slice is the only slice available (since the ways of creating value for which you can easily be paid have already been exploited).
(This is one reason why I personally am usually more excited about nonprofit startups: the low hanging fruit is usually picked in the for-profit world, but there’s a lot more remaining in the nonprofit space.)
Agree that if you put a lot of weight on the efficient market hypothesis, then starting a company looks bad and probably isn’t worth it. Personally, I don’t think markets are efficient enough for this to be a dominant consideration (see e.g. my response here for partial justification; not sure it’s possible to give a convincing full justification since it seems like a pretty deep worldview divergence between us and the more modest-epistemology-focused wing of the EA movement).
To the extent that markets are efficient, that narrow slice is the only slice available (since the ways of creating value for which you can easily be paid have already been exploited).
(This is one reason why I personally am usually more excited about nonprofit startups: the low hanging fruit is usually picked in the for-profit world, but there’s a lot more remaining in the nonprofit space.)
Agree that if you put a lot of weight on the efficient market hypothesis, then starting a company looks bad and probably isn’t worth it. Personally, I don’t think markets are efficient enough for this to be a dominant consideration (see e.g. my response here for partial justification; not sure it’s possible to give a convincing full justification since it seems like a pretty deep worldview divergence between us and the more modest-epistemology-focused wing of the EA movement).
That makes sense, thanks!