Much of the innovation we see in technology in the 2010s was funded by cheap credit due to the low interest rates and monetary supply expansion. Investors with deep pockets were able to borrow cheap capital at almost 0% interest and invest in companies without evidence of profitability.
Many companies like Uber hadn't turned a profit till recently. Members of society reap the benefits of technology funded by these investors; however, the hidden cost is the debasement of their currency and the erosion of their savings. The trillions of dollars spent could have been used to improve society in more impactful ways, such as infrastructural development.
Furthermore, society experiences a false sense of progression and wealth creation as valuations of tech companies balloon, dominate the stock market, and therefore create bubbles otherwise prevented by a sound money economy.
#BTC