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Comment Re:Commercial "education" generally fails (Score -1) 298

Nonsense. Your entire comment is nonsense. Education is just a service and fine best for profit. The problem with the USA system I'd government in student loans - issuing then or backing them, thud removing risk from lending. Government removing risk from interest bearing loans creates a perverse effect of banks dropping lending standards, the same thing that happened with every other bubble created by government money and involvement. Housing, stock, bond bubbles are no different from this student loan bubble. It will burst but before it does the colleges will raise tuition (and they have and they are) all the time much above what a free market would bear.

The reason for the most expensive 'education' today as compared to any time before now is the ocean of money pushed into it through the student loans, by the banks who are guaranteed a return by the taxpayer or the Fed printing (doesn't matter).

There shouldn't be any government money in education, today education can be provided cheaper than ever before in history of the world, do the prices do not reflect the reality. The reason of course is that all the price signals are removed from the system by government manipulation of the money and interest, by the Governemnt violent control.

The actual free market is not allowed UB education and it should be allowed. Government should be removed from it and actually from everything.

Comment Re:The whole problem was the unneeded secrecy (Score -1) 127

Trade secrets is the correct way of protecting knowledge, afaic all copyright and patent laws need to be repealed and for a company to make money it has to show results while protecting its knowledge and processes. I don't see anything wrong with treating a product as a black box that takes inputs and produces outputs, I only care that it does what it says it does by comparing the outputs to the expected results.

Of course this theranos thing (this is the second time in my life I am hearing about it, the first time was also on /. ) is a fraud and would be identified as a fraud based on the black box testing criteria.

Early investors should be more careful than trusting that a 19 y.o. girl with no 30 years of experience in the field will deliver 'ground breaking results'. I think in most cases this expectation will end up in a failure.

Millions of dollars are gambled on a promise because the market is set up for this type of a gamble by the Fedrleral reserve bank, by the dismal economy of the USA and by the government implicit and often explicit promise to bail out failure.

So the real problem here is the loss of efficiency in the overall economy, not that the product was never delivered, it was always a pie in the sky, just like never falling housing or bond markets.

Comment Re:Is anyone really surprised? (Score 1) 66

That's easy for you to say after the fact. And velcro+tang aren't the best examples, they're quite simply concepts.

But look at the 2016 list of spinoffs:

Lots of stuff on there that would have been deemed unnecessary or a waste of money by private investors.

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