Climate denial, we know from decades of experience, is fueled by an unholy trinity of financial interest (fossil fuel companies determined to keep their profits flowing), ideology (conservatives hostile to any form of regulation) and psychological insecurity (real men burn stuff.)
The way to win at capitalism is to focus on what it actually does (make customers' lives better) rather than the socialist caricature of it (squeeze every penny out of them). The latter gets you 2x returns at best, whereas making new things for people can get you 10x.
It would of course make great sense to tax these windfall profits, earned entirely on the back of dead Iranians and Americans, and everyone who's paying $4.50 a gallon at the pump.
To put this same story another way, the European car industry in the early 2020s was a prime example of greedflation i.e. companies taking advantage of the COVID shock and other disruptions and to hike profits at the expense of consumers.
The primary axis is no longer the politico-economic axis of capitalism-vs-communism, but the ethno-cultural axis of ethnomasochism-vs-ethnonationalism.
Okay. So now we have people who've been able to rely on switching costs to protect their profits and the switching costs just drop to zero. Their profits are going to drop to zero and and some people aren't going to survive that change.
It is often the case that a work which contains radically unusual ideas will drift along being not particularly zoomed in on by society and not widely read until it hits a moment that the new questions being asked in that century or that decade are answered by something in that text.
this idea is old enough that we now have a generation of people who have been raised as if this was a natural law. This is how capitalism has always been. But that's wrong. For the vast majority of the time, for hundreds of years, we have had joint stock corporations. Only the last 40 have we had this idea.
And so our expertise um helps our our our um uh our AI labs partners get another 2x out of their stack easily. Often times it's not unusual that we you know by the time that we're done optimizing their stack or optimizing a particular kernel their model sped up by 3x 2x 50%.
The internet is unique in the history of technology because there’s a list of things it improved (communication, access to information) but another list of things it likely made worse for almost everybody
So you if you look at the leverage in some of these securitization books and mortgage books if you have 30 times leverage and you're getting 20% of the profits you'll go to 40 times leverage. It's just going to it's literally will add you know 25% to your bonus.
the fortress balance sheet is that you run a company serving clients well, you have good margins, good liquidity, good capital. I'm as conservative in accounting as you can find. I don't up-front profits when I can spread them over time.
Certainly more on the no than on the yes. The funny thing about P equals NP is that we have also a lot more obstructions than we do for almost any other problem.
That was her strength because she's so unusual, but it was also her downfall because she looked to herself as a model or to get insight about humanity, and she never quite processed how different she was from other people.
La conclusión es obvia: lejos de ser la causa de nuestros problemas, el capitalismo de libre empresa, como sistema económico, es la única herramienta que tenemos para terminar con el hambre, la pobreza y la indigencia, a lo largo y a lo ancho de todo el planeta.
People think of nature as perhaps some sort of peaceful thing, but in fact it is not. There’s some quite funny Werner Herzog thing where he is in the jungle saying that it’s basically just murder and death in every direction. The plants and animals in the jungle are constantly trying to kill each other every single day, every minute. So it’s not like we’re unusual in that respect.
Making peer review harsher would also exacerbate the worst problem of all: just knowing that your ideas won’t count for anything unless peer reviewers like them makes you worse at thinking.
The proposition is that the cancellation of the bonds held by the central bank would decrease the amount of interest payments and thus the debt service of governments. And indeed, it would. But it would have another effect—namely, to decrease the revenues of the central bank and thus the profits that the central bank turns in to the government. This second effect would be exactly of the same size as the first, and the net effect on the government budget constraint would be equal to zero.
Combining these three pillars yields a number of unusual, even uncomfortable views about ethics. I feel this discomfort and don't unreservedly endorse this approach to ethics.
Americana traces the history of American-style Capitalism, reminding us the political economy is far more complex than the simple labels we tend to use. Reality is far messier, filled with externalities, complications and comprises then is predicted by academic theories.
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