this post was submitted on 09 Feb 2024
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Why It Was Almost Impossible to Make the Blue LED (youtu.be)
submitted 9 months ago by Whirling_Cloudburst@lemmy.world to c/technology@lemmy.world
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The blue LED was supposed to be impossible—until a young engineer proposed a moonshot idea.

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[–] Cethin@lemmy.zip 78 points 9 months ago (37 children)

It also shows how capitalism hinder innovation. It doesn't create it. The potentially innovative path took money without any guarantee of creating profit. It's bad business to be innovative. Capitalism prioritizing profit never chooses the best path, even if it gets a good ending eventually despite itself.

[–] SkyNTP@lemmy.ml 12 points 9 months ago* (last edited 9 months ago) (16 children)

I'm not sure how you come to this conclusion. For every example of a capitalist avoiding risky investments, there are 100 capitalists betting on the next innovation.

Venture capital. Heard the term? AI, Metaverse, crypto, web 2.0, .com... The tech space alone is full of capital making (stupidly risky) bets. They also make good bets too, like PC, search engines, online shopping (oh, look how the tech giants came to be).

I get it, capitalism bad. But this is just a nonsensical argument.

[–] gmtom@lemmy.world 2 points 9 months ago (4 children)

Yeah metaverse and crypto are such innovate projects that will really change the world and not just more the same bullshit cash grabs.

Really undermining your own argument.

[–] DaGeek247@kbin.social 2 points 9 months ago (1 children)

You completely missed the point there, damn. He's saying those things are very likely to be bad investments.

[–] gmtom@lemmy.world 0 points 9 months ago (1 children)

No I get the point. But showing they make make stupid decisions doesn't prove capitalism drives innovation, because those ideas aren't innovative.

[–] DaGeek247@kbin.social 1 points 9 months ago

Innovative ideas are rarely smart ideas.

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