Charles C. Mann: evaluation

Transcript context

…Why did the British government and the king keep subsidizing and giving sanctions to the Virginia Company, even after it was clear that this is not especially profitable and half the people that go die? Why didn't they just stop? That's a really good question. It's a super good question. I don't really know if we have a satisfactory answer, because it was so stupid for them to keep doing that. It was such a loss for so long. So you have to say, they were thinking, not purely economically. Part of it is that the backers of the Virginia Company, in sort of classic VC style, when things were going bad, they lied about it. They're burning through their cash, they did these rosy presentations, and they said, “It's gonna be great! We just need this extra money.” Kind of the way that Uber did. There's this tremendous burn rate and now the company says you're in tremendous trouble because it turns out that it's really expensive to provide all these calves and do all this stuff. The cheaper prices that made people like me really happy about it are vanishing. So, you know, I think future business studies will look at those rosy presentations and see that they have a kind of analogy to the ones that were done with the Virginia Company. A second thing is that there was this dog-headed belief kind of based on the inability to understand longitude and so forth, that the Americas were far narrower than they actually are. I reproduced this in 1493. There were all kinds of maps in Britain at the time showing these little skinny Philippine-like islands. So there's the thought that you just go up the Chesapeake, go a couple 100 miles, and you're gonna get to the Pacific into China. So there's this constant searching for a passage to China through this thought to be very narrow path. Sir Francis Drake and some other people had shown that there was a West Coast so they thought the whole thing was this narrow, Panama-like landform. So there's this geographical confusion. Finally, there's the fact that the Spaniards had found all this gold and silver, which is an ideal commodity, because it's not perishable: it's small, you can put it on your ship and bring it back, and it's just great in every way. It's money, essentially. Basically, you dig up money in the hills and there's this long-standing belief that there's got to be more of that in the Americas, we just need to find out where. So there's always that hope. Lastly, there's the Imperial bragging rights. You know, we can't be the only guys with a colony. You see that later in the 19th century when Germany became a nation and one of the first things it does is “Let’s look for pieces of Africa that the rest of Europe hasn't claimed,” and they set up their own mini colonial empire. So there's this kind of “Keeping Up with the Joneses” aspect, it just seems to be sort of deep in the European ruling class. So then you got to have an empire that in this weird way, seems very culturally part of it. I guess it's the same for many other places. As soon as you feel like you have a state together, you want to index other things. You see that over and over again, all over the world. So that's part of it. All those things, I think, contributed to this. as you feel like you have a state together, you want to index other things. You see that over and over again, all over the world. So that's part of it. All those things, I think, contributed to this. Outright lying, this delusion, other various delusions, plus hubris.…

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