The Internet affects the economy differently than the new businesses of the past did.
John Doerr, a venture capitalist, predicted in the 1990’s that the Internet would lead to the “the largest legal creation of wealth in the history of the planet.” The Internet has created a tremendous amount of personal wealth. Just look at the rash of Internet billionaires and millionaires, the investors both small and large that have made fortunes investing in Internet stocks, and the list of multibillion-dollar Internet companies—Google, Facebook, LinkedIn, and Amazon. Add to the list the recent Twitter stock offering, which created a reported 1,600 millionaires.
Continue reading… “The Internet is the greatest facilitator of inequality in history”
