Worstall on Wednesday The comical success of the messaging app Yo is apparently proof perfect that Silicon Valley is doing everything wrong.

It is supposedly proof, if any were needed, that the hypercapitalism of the tech scene means that people just hunt for the next quick flip rather than attempting to grapple with the real problems that besiege and oppress humanity.

This is what we're told by an impressively credentialed* professor writing in the Washington Post.

There are two major problems with this, the first being that it's not taking account of what people actually do value. The second is that it's also not taking account of what that hypercapitalist tech scene is actually achieving out there in the real world.