Michael Lewis: belief

Transcript context

…Right. I guess Google still has this spirit, where they're doing lots of stuff that maybe you can't identify instantly. The payoff that's right around the corner is let's just fiddle around, see what we find stuff. The corporate Americas I think just generally does less of that than it used to do a long time ago. Am I wrong? No. I'm trying to think that's interesting. I'm stealing this idea from our friend, Hamilton Helmer, but he brought up this idea in conversation with us that there is a positive benefit to monopolies because they create the cash flows that fund these boondoggle basic research. A lot of the most important technologies that move society forward come out of these.…

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