John Collison: belief

Transcript context

…Right. Because clearly sentiments swings publicly. Like there's on average in the long run, it's a truth-telling machine, but in the short run can be a panic. So just curious for you guys to think about, yeah, is that the world we want to live in? I mean, we are obviously biased because we love markets. We think markets are good, so we're definitely biased here. But I think our view on this is that it's always better to have more data than less data. If you don't think the data is good, if you don't think the second-by-second stock price is good, you can just choose to ignore it. It might... The world might not just ignore it, but you could use it. I think CEOs of public companies would say it is not always possible to choose to ignore it. That's fair. But in a way, it's like it's better to have the data and then use it as an input to something than not. But when we say we want to have prices on a lot of things, it doesn't mean everything. There are a lot of things that we wouldn't do, like wildfires we don't do. War, terrorism, assassination. Those things are bad. There's a moral side of these markets and we're not going to ever go there. But in general, it's in a world of social media is like, you don't know what's true anymore. My feed is like, is it real? Is it not real? Did this happen? It's just better to have a source, an unbiased source of information that you can kind of use it for other things. And I think that that value is there.…

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