> but maybe $120 million could have been invested into some slightly more useful things?
No. That's precisely why products like this get built.
Interest rates are through the floor, causing assets (stock market, housing, everything) to be pumped up to non-sustainable levels. everyone knows the stock market and housing returns won't be good for the next 10 years. There's waaaayyy too much money floating around. They have to invest it somewhere, and since all the meaningful moonshot innovation is locked up, all that's left is to go for products like this.
No. That's precisely why products like this get built.
Interest rates are through the floor, causing assets (stock market, housing, everything) to be pumped up to non-sustainable levels. everyone knows the stock market and housing returns won't be good for the next 10 years. There's waaaayyy too much money floating around. They have to invest it somewhere, and since all the meaningful moonshot innovation is locked up, all that's left is to go for products like this.