> As you noted though, a home would probably be a preferable alternative.
The problem is that the preferable option (housing) won't happen because unlike a smartphone, it requires that land be effectively distributed more broadly (through building housing) in areas where people desire to live. Look at the uproar by the VC guys in Menlo Park when the government tried to pursue greater housing density in their wealthy hamlet.
It also requires infrastructure investment which, while it has returns for society at large, doesn't have good returns for investors. Only government makes those kinds of investments.
Better to build a wall around the desirable places, hire a few poorer-than-you folks as security guards, and give the other people outside your wall ... cheap smartphones to sate themselves.
The problem is that the preferable option (housing) won't happen because unlike a smartphone, it requires that land be effectively distributed more broadly (through building housing) in areas where people desire to live. Look at the uproar by the VC guys in Menlo Park when the government tried to pursue greater housing density in their wealthy hamlet.
It also requires infrastructure investment which, while it has returns for society at large, doesn't have good returns for investors. Only government makes those kinds of investments.
Better to build a wall around the desirable places, hire a few poorer-than-you folks as security guards, and give the other people outside your wall ... cheap smartphones to sate themselves.