Another month, another rationality quotes thread. The rules are:
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That's true, but he's talking from the company's side. If the target market are those that wouldn't invest at all, then the company could be providing real value overall.
I wouldn't use such a company, of course; but the target demo is not "people who think logically about investments unless they get fuzzies".
His argument is
The fact that its users are still irrational seems irrelevant then, and it's reminding me of the whole "Copenhagen ethics" post (to make the analogy explicit, the company is being blamed for the fact that its users aren't perfect, even though they're better off than without the company.
I think it's legitimate to criticise a company for pretending to sell utilons when it isn't. Yes, this company may well be a better use of your money than Taylor Swift tickets. But Taylor Swift isn't marketed as an investment.