The top 10 stocks in the S&P 500 now make up ~40% of the index Every company in the top 10 has a market cap of $1 trillion or more 3 things: 1. This is a bull mkt phenomenon 2. Almost every other country is even more concentrated 3. The fundamentals back it up
We won't even get into the fact that in the most ancient religions of Canaan and Israel, the bull is primarily a symbol of God Most High, not of the subordinate Ba'al Haddad
the best way to think about AI is as another social, political, cultural and economic shock in the series of shocks that have been underway over the long industrial revolution.
And yet, life expectancy about two years more than the national average is rather common in rich regions with selective migration, even in European countries with even access to health care, like France and Spain.
The original point of the China Shock 1.0 discourse was not to foreground the unfairness of Chiense competition, so much as the malfunctioning of US policy and societal institutions in the face of concentrated globalization shocks.
I think concentration of power has basically been bad in every moment of human history um to varying degrees of course but I have a real spirit and I think this is part of the startup spirit of thinking that the world, the economy, society is the best off when power is very widely distributed
In fact, if if we are right that AI is going to be such a big change, startups will be much more important to making sure that the power of this technology gets widely distributed throughout the economy and society and is not just concentrated in a few companies or models.
I think we would always still prefer like a human that we had a relationship with because the way that we get motivated to be interesting interested in things is a social phenomenon.
So, I think there is a world where it is concentrated, in which case it's going to be really hard to index AGI. There is another world where it is not It's electricity, then like basically every company has access to AGI. So, you just buy you use buy the index. So, like, you know, Nigeria just needs to buy the index.
And we failed horribly, and we had the best of the best on that team. And it’s because everybody was too much of an expert on how to make a groundbreaking phenomenon MMO.
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I just realized the only 2 countries left with actual substantial startup activity now are literally only the US and China The rest of the world can't really do startups, doesn't have the funding, can't grow them and it's more like performative hobby projects for their governments Which might tell us where the future wealth will be concentrated in the world
Their experiences highlight a striking, neglected and unchristened medical phenomenon: The therapeutic effect of a clinical diagnosis, independent of any other intervention, where clinical diagnosis refers to situating the person's experiences into a clinical category by a clinician or the patient.
The trade deficits have widened since Trump, right? They haven’t closed the imbalance with China and with the rest of the world because ultimately the US saves less than it invests. And that’s a macrophenomenon. It’s not a trade phenomenon
But they they both had something something unique that we didn't know at the time. I'm going to call them concentrated deposits. Not uninsured cuz people are misstating that, concentrated.
But then I think that there’s a confusion that dead stars, these very, very massive stars that die, are synonymous with the phenomenon of black hole. And it’s really not the case. Black holes are more general and more fundamental than just the death state of a star.
Slurs of ‘childless cat ladies’ usually target female graduates, but in the US, Sweden and Finland the real decline is happening among people with less education.
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