"The market doesn't pay for effort, it pays for things people want." The problem... | Hacker News

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GiraffeNecktie on March 23, 2012 | parent | context | favorite | on: Paul Graham has lost the plot

"The market doesn't pay for effort, it pays for things people want."

The problem is that people still want the the product as much as they ever did, but they've discovered that they can always get it without paying a penny. The producer produces and the consumer consumes but the producer is not compensated. That's not a market.

gnaritas on March 24, 2012 [–]

Not everything can be a market, some things become hobbies for producers when consumers won't pay.

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