What is that economic rule/theory that a commodity’s utility is never a factor because consumers will consume a thing just for existing no matter what?
Tell ya what. Go to your local dog park. Offer to clean up all the poop in little baggies, as long as you get to keep the poop.
Then come home with hundreds of baggies of dog poop, and set up a little lemonaid stand. Except instead of lemonaid, you can sell dog poop. $0.25 per baggie.
Report back how many you sold just because it exists for sale.
Infinite supply with zero demand, of course is has no value.
All it does is flood the market with garbage, ruining the value for real creators.
It’s DDOS attack on content.
Which in turn is an algorithm-incentivized DDOS attack on art.
This is a good one.
I love that it ruined blockchain collectables as well.
Didn’t blockchain ruined itself before AI?
Yeah kinda, but AI is teabagging it.
What is that economic rule/theory that a commodity’s utility is never a factor because consumers will consume a thing just for existing no matter what?
Tell ya what. Go to your local dog park. Offer to clean up all the poop in little baggies, as long as you get to keep the poop.
Then come home with hundreds of baggies of dog poop, and set up a little lemonaid stand. Except instead of lemonaid, you can sell dog poop. $0.25 per baggie.
Report back how many you sold just because it exists for sale.
Set it up near the right politician’s residence and you’ll make bank
Probably should also bulk buy cheapo lighters.
If Logan Paul was selling it you bet your ass they would sell.
This was funny af
I was thinking of Say’s law which is not exactly what I thought it was
What is it? It’s bullshit. Like most economic rules/theories.
But hey…it’s just a theory…A GAME THEORY!!!
sounds sus. the utility of a commodity seems directly linked to the inelasticity of demand for it.
I was very wrongly thinking of says law