Agents collapse the cost of time and effort and it's going to lead to some bizarre second-order effects.There is a layer of businesses that can exist because something is too tedious, time-consuming or expensive for a human.Maybe a good example of consumer agents. While I agree with @benthompson that consumers don't want to be more productive, they do want things to be cheaper!
Yano 🟪@JasonYanowitz
Fascinating.Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits.
Some data we recently assembled on entrepreneurship/compute in Europe: eudata.vercel.app.We hope that one of the useful roles that Stripe can play is in collecting and publishing empirical data pertaining to entrepreneurship and industry in Europe. There's growing appetite to get Europe on a better footing, and cross-sectional comparisons can often shine light on where opportunities lie. If you're interested in this kind of thing, we publish more at stripeeconomics.substack.com.
Regardless of what you think of Trump or his policies, Trump Accounts are a huge win.Give everyone a stake in the future of American business. It's still the best machine in the world for innovation.
I'm trying to extrapolate this to the real world—what does a scarcity inversion look like? What is the investment thesis?Energy and compute seem like the key resources that will drive everything else. Land, collectables, travel and unique experiences—seem like they'll only become more valuable?
max@maxbittker
Weird economics up on the agent-only runescape server- Low cost of labor makes most commodities abundant- Currency inflation means trading goods for goods, nobody really wants cash- Huge swarm contention as certain resources with limited respawn rate become valuable
Honestly, I wasn't concerned about money sitting in the bank until the FDIC posted this video. Now I'm a little concerned.
FDIC@FDICgov
Forget the mattress! Keeping large sums of cash at home is risky. The best place to protect your money is in an FDIC-insured bank where it’s safe and sound. Learn how the FDIC safeguards your #money at fdic.gov
I am concerned that we're at the beginning of this crisis and the Fed has exhausted its conventional tools. Are we moving to negative interest rates? Direct purchase of equities?
Feb 2020
I'm skeptical that this T-Mobile, Sprint merger is going to be good for consumers.
Some pretty amazing lines in this essay. “The innovators (lords) capture the majority of the gains, and the 99% (serfs) get an awesome phone, a $4,000 TV, great original scripted television, and Mandalorian action figures delivered within 24 hours.”
I'm not sure I agree with UBI as a solution, but I think you're absolutely right about the problems. Look forward to seeing you in more debates.
Andrew Yang🧢⬆️🇺🇸@AndrewYang
I don’t expect people to agree with me on everything- that would be odd. My main hope is that people trust that I’m trying to solve problems and I’m open to different approaches - particularly if the data drives in a particular direction. Changing one’s mind is not a bad thing.
“The purpose of quadratic voting is to determine whether the intense preferences of the minority outweigh the weak preferences of the majority...” bloomberg.com
Jan 2019
An interesting thread about missed career expectations.
Noah Smith 🐇🇺🇸🇺🇦🇹🇼@Noahpinion
1/Alright, so folks wanted me to expand on this idea, so here we go. Elite disaffection and the return of the American Left.As you may have noticed, we're seeing an upsurge in young Americans who reject capitalism. Why? forbes.com
To say that "the failings of socialism is almost as deep as those capitalism" is incredibly disingenuous. While income I equality has gotten worse under capitalism, socialist policies killed nearly 100 million in the last century. theatlantic.com
Jun 2018
There are a ton of good points in this thread.
Ivan Kirigin@ikirigin
As much as I hate Trump, the socialist left is full of bad ideas.Let me address a few of them: - expanding medicare - tuition free college - huge jobs programsThese are all from Ocasio-Cortez recently, but not new ideas.
Interesting discussion on basic income in r/slatestarcodex this morning reddit.com
Three types of people who will benefit from the changing economy according to Cal Newport:—Those who work well with machines —Those who are the best at what they do —Those with access to capital
“Investing is not the study of finance. It’s the study of how people behave with money.”
Matt Levine read my mind. I was thinking about this yesterday—Can Kardashians Trade on Tweets? bloomberg.com
“Had we kept 2000-levels of productivity and applied them to 2010-levels of production, we would have required 20.9 million manufacturing workers. Instead, we employed only 12.1 million.”
Too much fiat chasing too few assets—that's at least one explanation for real estate and Bitcoin prices.
Fantastic observation on China's advantage in manufacturing.In the West those who create financial instruments are often the most rewarded. In China is those who create businesses and products.news.ycombinator.com
Oct 2017
I love @matt_levine's running commentary on how index funds are marxist. Another thought-provoking write-up today. bloomberg.com
This article on post-scarcity economic is spectacular. Every paragraph has an astute observation. buff.ly!
Atlanta notched second-highest boom rate among big-city economies—I'm still skeptical about Amazon coming here. buff.ly
Sep 2017
Finance can be a pretty dull subject, but I find @matt_levine's commentary both informative and entertaining. bloomberg.com
Aug 2017
What if jobs are not the solution, but the problem? aeon.co
Love reading @matt_levine's Money Stuff column. There's always a ton of interesting commentary.bloomberg.com
Jul 2017
Incredible long-form from The Guardian—Globalisation: the rise and fall of an idea that swept the world theguardian.com
Apr 2017
How to prevent future business investments in your country—Venezuela officials seize General Motors plant nbcnews.com
Mar 2017
Interesting view on our tax system in the U.S.—politicians benefit from complexity. news.ycombinator.com
Interesting thread about automation and labor v capital on HN
