>I don’t care about their valuations, but I do care about the risks that they are creating for the economy, society, and the technological advancement, at large.
Doesn't the same thing apply to every company? And also every government? And also individual?
We're all doing the "locally rational" thing, and globally doing... well...
I think the main factor is time horizon.
Locally rational behavior begins to look globally rational when you add time horizon.
For example, if I'm doing what's best for my family for the next five generations, that starts to look a lot like what is good for the whole country and the whole world.