I'm afraid the doctrine of "if it looks bad, it must be good!" is not in fact true or generally applicable. And it's not what Graham is saying, for that matter. If you read a bit further:
"It also reminds you that the vast majority of ideas that seem bad are bad."
The idea of running up every web browsing computer to 100% CPU, costing them tens of dollars in electricity while giving you a few cents of cryptocurrency, seems bad and is bad.
"It also reminds you that the vast majority of ideas that seem bad are bad."
The idea of running up every web browsing computer to 100% CPU, costing them tens of dollars in electricity while giving you a few cents of cryptocurrency, seems bad and is bad.