the succs cannot even conceive of the effort it takes to make the world run smooth lmao. 80-90 hours is literally common in high performing jobs like investment banking
having myself a giggle imagining the DSA government run electric car factory producing absolutely nothing https://x.com/MattBruenig/status/1185250839046344706
@Aella_Girl Racism is people yelling out their car windows telling you to go back to your country. They don’t wait to figure out whether you watch the same tv shows or celebrate the same holidays
@computergorl@Aella_Girl I mean I appreciate the appeal to the intelligence of humans that racist hang ups are due to higher order prejudices, but Occam’s razor would suggest they’re yelling out the car because they don’t like the way you look
@johnvmcdonnell@computergorl@Aella_Girl the Quebecois carefully cultivate a hatred of English speakers, it's almost a game to them. None of the signs in Montreal have English subtitles even though half the city speaks english.
@johnvmcdonnell@computergorl@Aella_Girl Now I'm not saying there aren't many different varieties of "othering". Many Hindus and Muslims of the same ethnicity cannot stand each other, and you'll find caste and class systems dividing people across the world. But racism is visceral and painful
@johnvmcdonnell@computergorl@Aella_Girl and it doesn't really change its fundamental nature to call it a heuristic for something else. just see how much the phrenologists cared about the culture of africans
@NickMeier21 i'm not giving them any credit at all. i'm saying it's not a matter of virtue or bravery; the balance of power among the corporate overlords has shifted and it's not as vital to maintain the Koch line anymore. the koch network is literally funding democrats now
@NickMeier21 yeah agreed but in the past the Rs have managed to keep a ridiculous level of party coherency on this, probably because their most important donors demanded this. even people like romney and mccain. recently even CATO institute admitted to climate change
https://www.youtube.com/watch?v=HJAgHakABlM
@visakanv@CantHardyWait the flavor of this world is such that I would only be mildly shocked if this was the result of biology
self replicating molecules will stop at nothing
@CarGoneOfAssad@MattBruenig It’s also stressful being responsible for billions in economic activity, the livelihood of thousands of employees, etc.
You are living in a fantasy world if you think CEOs don’t have to work hard
@zslayback you'd have to really be cruel not to see the benefit in lifting a billion peasants out of poverty. hate the chinese government but love the chinese people
@CascadianSolo Outcomes > intentions
UBI is the best form of welfare that exists and pretty much sits at the very heart of the neoliberal project in my eyes
If a bunch of robotics death culters join congress and pass UBI for dumb reasons, I’ll be more than happy
@ahardtospell That’s the natural evolution: pay companies the carbon price for sequestration. In the long term, we’ll want to not only reduce output but actually remove gigatons of carbon from the atmosphere
@asteroid_saku But honestly look no further than Wikipedia to know the internet optimists were probably right — info is there for those who seek it, and we can collaborate effectively at scale
@chimezie90@primalpoly Essentially everyone who enters the public sphere leaves richer — OP’s claim would suggest that all politicians are then rent seekers.
It’s not a crime to give a speech at Goldman and make a small fortune without harming anybody
@david_perell Overton Window is extremely overrated
It’s super obvious right now that opinions that seemed too right wing or too left wing just 20 years ago have the limelight. So the Overton window stretched out? Why even call it a window then?
@Noahpinion China is pretty fash. There’s some sort of ethno nationalist thing going on, and it’s very corparatist with tight feedback loops with the state. Pretty much everything Hitler and Mussolini might have wanted
@JohnCarltonKing Then why not just raise capital income tax to that level? As it stands wealth tax costs people who beat the market much more over time and encourages them to sell capital / consume in excess / bleed control of the companies they built
@JohnCarltonKing I am morally opposed to taxing wealth that is currently creating value for the economy as a share of a company instead of when it’s time to sell / consume
@JohnCarltonKing Also, wealth taxes are equally easy to avoid. You claim that warren’s plan learns from the mistakes of the past; if so, we can apply the same lessons to estate taxes
@JohnCarltonKing Wealth tax creates sell pressure and therefore lowers asset prices. Even if the government collects shares instead of cash, its plan will be to sell them regardless of good investing / price discovery and so, irreducibily undermines wage growth & productivity growth
@_Jason_Dean_ Give it a decade, and like all other technology, it will become available to the poor. Also creating smarter babies would create a nonzero sum gain for the world as they go out and create new value previously unseen. Everyone benefits
@JohnCarltonKing A reliable digital currency free of government interference would do wonders for economies with poor governance. you aren't the target user. Just look at what M-Pesa has done for Kenya
@JohnCarltonKing 'The much cited result of the paper was, that ‘access to M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.'
https://science.sciencemag.org/content/354/6317/1288
don't cancel reasonable ideas before they leave the runway
@JohnCarltonKing Why? bc FB is an ideological enemy, they can't produce positive effects? the governance scheme of libra distributes control over many big companies'
Libra is backed by actual currency. you can trade in a libra for a certain amount of dollars
@JohnCarltonKing Our entire banking system is controlled by very big multinational corporations, this is not a valid critique. If important parts of the economy being controlled by the private sphere is dystopian, we should nationalize all grocery stores right now.
@JohnCarltonKing The reason it's so hard to transfer money from bank-to-bank and country to country is that the big banks have not improved the ACH technology in like 30 years
@Claire_Voltaire libertarians are oddly short sighted at pursuing liberty for all people instead of just for themselves. I think the fundamental moral axioms are different. Libertarians are pursuing randian objectivist ideas, whereas neolibs focus on utilitarianism/consequentialism
@GeolibGeorge@Claire_Voltaire "after the publication of Rand's novel Atlas Shrugged, Rothbard wrote a "fan letter" to her, calling the book "an infinite treasure house" and "not merely the greatest novel ever written, [but] one of the very greatest books ever written, fiction or nonfiction".
@GeolibGeorge@Claire_Voltaire "[Rothbard] parted with Mises on the question of ethics. Specifically, he rejected Mises conviction that ethical values remain subjective and opposed utilitarianism in favor of principle-based, natural law reasoning"
@AlecStapp@caitlintackles What people don’t get is how easy to is to do worse than random in algorithmic ads. It’s not a magic bullet, it doesn’t remove the proverbial “wasted half” of ad spend, and it definitely does not do the same job the million dollar Super Bowl spot does for brand advertising
@AlecStapp@caitlintackles And it turns out this market alone is worth billions. It really doesn’t need more than two competitors to do the job well, hence all the dying ad tech startups
@ExistentialEnso But why do you think that wealth would be used better / amazon would be a better company if his shares were distributed more equally? In fact, I tend to think 1000 millionaires will be much greedier and short sighted than 1 billionaire.
@caitlintackles@AlecStapp This is undoubtedly true that online media publishers have had their margins ground to dust, but can the same be said for tv ads?
@ne0liberal It’s not about short term profit; it’s about long term usefulness / keeping Facebook at the center of the conversation. Zuck is an ideologue first and a business leader second
@visakanv Not *strictly* true, it’s more that you can revert back to a saved model somewhere if a policy learns counterproductive things or its behavior diverges
@ne0liberal The basic function of government is inefficient and bloated enough without also trying to develop struggling regions. This is the right take
@AgiaTheBun@0K_ultra in fact, creating new value through technology is the only way to durably create wealth. If you bring ten thousand tons of platinum to earth, the price of platinum will fall to nothing.
@orkoliberal@ne0liberal Those things are perfectly related. As people unleash new efficiencies of scale and digitalization onto the economy, they make everyone wealthy while becoming themselves unfathomably rich.
This has nothing to do with trickle down theory
@CascadianSolo Yeah I’m just wondering about methodology of the leading pollsters. Quinnipiac apparently polls around a 1000 at a time. It seems to me in the digital era this is an extremely small sample size. There’s gotta be a way to increase this by a few orders of magnitude
@CascadianSolo I understand. Clearly the margins of error are still pretty high or else we wouldn’t see massive discrepancies from poll to poll. That’s nearly a 4% point margin on a n=1000 poll
i gotta say from an aesthetic angle being crucified for a few days as self sacrifice aint that interesting. My guy prometheus has his liver plucked out and eaten eternally for delivering the gift of technology to mankind. now that's metal af
@NickMeier21 1) I’m incredibly skeptical of “independent fact checking”. Theres no such thing. But daily caller fact checker was approved by IFCN, run by a journalism school. Later lost its accreditation
2) Apple News also hosts breitbart. Why the double standard?
this is the kind of fevered thinking that results from equating "white" with "colonizer" w.o realizing that history is an anarchic struggle for power, with various groups holding the throne only briefly. everyone is a colonizer https://x.com/HashtagGriswold/status/1188187791865405443
@jdcmedlock serious question, why does insulin cost brandname prices? How did the system fail so bad that we aren’t selling this generically? Is it just that the latest, most bioavailable form of insulin is expensive? Why doesn’t that face extreme competition from generic suppliers?
@jdcmedlock This is very good. Also definitely convincing that financial transaction tax is not the way to go. Can you elaborate what “aggressive estate tax reform” means though? Are we talking closing a few loopholes or moving the estate tax rate to 50%
@JohnCarltonKing@jdcmedlock hft makes asset markets more liquid, efficient, and stable; the hedge funds would love to portray them as villains Bc they’ve been bleeding their margins to the hfts. This is just another form of luddism. If you value accurate prices you should value the HFTs
@jdcmedlock After reading this I must admit I’m just as confused. They merely say that only one generic fast acting insulin has come to market which has kept costs fairly high. Why is there only one?
@jdcmedlock If you can manufacture a vial of this for no cost at all and sell it for thousands, everyone and their mother should be doing it. Is cost to bring to market just have a function of spurious lawsuits? FDA approval?
@jdcmedlock Rather than price fixing, we should understand and rectify the underlying problem that keeps the markets this extraordinarily efficient. Increasing the friction of ridiculous patent lawsuits for one
@jdcmedlock Price fixing on supply side would probably be better; else can raise prices arbitrarily as governments willingness to pay is much higher than the uninsured Customer’s
@jdcmedlock The typical libertarian response to this is just to abolish the FDA and let a thousand generics come to market but I’m skeptical of these claims. This is def harmful and doesn’t solve the problem of spurious lawsuits as described in the article
@jdcmedlock A neolib (or Bernie Sanders) idea might be to allow free import of insulin, but then our pharmacy companies are competing with the price fixed companies in the rest of the world.
@jdcmedlock It’s also pretty crazy to me that firm specialization hasn’t led to separate companies creating new drugs and others actually producing them via license
@jdcmedlock If you fix the supply problems and there are 10 firms competing to make the same generic, insulin would be sold at or near the variable cost of production. We wouldn’t even need the demand side subsidy
@jdcmedlock Although I do think the conclusion is somewhat obvious to anyone who thinks economically - robin hanson talks a lot about *adequate markets* and how they behave under systems of interacting incentives
@JoshConstine@sarthakgh By doing it better than the startup Fb chills startup formation somewhat. By doing it way worse than normal VCs, SoftBank distracts and distorts equity markets
@jdcmedlock I thought about it some more, and I don’t think the statement they make is super helpful.
You just have to observe: why does someone choose to become an academic economist? They aren’t likely to be paid as much as they could get in finance, so they must have other incentives
@jdcmedlock Which could be a sense of purpose or meaning, a love of the craft, whatever it may be. What’s clear is that financial incentives are not the only thing that factors in: but the market is still efficient. It takes into account each person’s objective function and comes to a concl.
@jdcmedlock It can underpay economists relative to their level of talent, just as you can do the reverse as an academic physicist and go off to Wall Street. Similarly, markets *should* take into account the fact that people don’t want to move 200 miles to work — that doesn’t break markets
@jdcmedlock What *does* break markets is the underpriced externality; regions in which everyone is gainfully employed will be prosperous in ways unrelated to individual choices. Full employment is a huge positive externality, so skilling people up corrects that
@JohnCarltonKing So make it progressive like other income, but mark to market encourages divestment in a way that upon sales capital gains doesn’t. Just accumulate yearly interest payment until sale time. You’d also have to offset losses
@rickstonkin@DeAngelisCorey Sometimes professors explicitly take points off for missing class Bc they know their stuff is useless and need to hold you hostage
@rickstonkin@DeAngelisCorey And the idea that classes are especially important to PhD’s is extremely laughable; they’re there to produce publishable research. Nobody cares if you attend class or not, as long as you pass so they can impart the ritual honors on you
@rickstonkin@DeAngelisCorey Right, but I don’t think that Corey is arguing college is 100% about signaling. Maybe it’s 30% skill acquisition. Either way, recruiters will come and indiscriminately hire ppl from top colleges based on referrals students give each other. GPA / courses taken are an afterthought
@rickstonkin@DeAngelisCorey a motivated student CAN use college to educate themselves, but that’s not why you’ve paid $100,000 to be there. The cost of education the marginal student is pretty small in the computer age
@rickstonkin@DeAngelisCorey Even for academics, the core use of grades is a signaling mechanism to indicate that you might be a successful researcher. That’s why many people completely switch fields when doing grad school, and why the best applicants apply with a history of research papers
@rickstonkin@DeAngelisCorey It is a problem; it means that we’re stuck in an inadequate equilibrium. A set of rent seekers can extract inordinate value for solving an information problem poorly. There are vast swathes of better ways to solve this info problem of “who will be successful at my firm”
@rickstonkin@DeAngelisCorey One way I’ve seen it put is, there is a tower set up such that it will only let you enter it if you have, say, > 100 IQ or something. For doing so, it steals 4 years of your lifespan. And the owner of the tower has found that it’s so useful that he can charge $100k to enter
@rickstonkin@DeAngelisCorey We should definitely not give up and say, hmm maybe everyone will just have to enter the tower for all time. And I do appreciate the fact that college is both *fun* and a growing experience. Are there not cheaper & less time intensive ways to do both things?
@rickstonkin@DeAngelisCorey On the contrary, I’d say it’s one of the most useful things to study in college. People on the high end of the performance curve are likely to think they could’ve learned it quicker and more efficiently than it was taught, which I think is common to all subjects.
@rickstonkin@DeAngelisCorey I studied both CS and physics in college, and mostly did not attend lectures for either. I will admit that physics takes much more effort to self teach, but I’m not sure the same can be said of a vast array of other subjects
@ArtanXhezairi Prove me wrong: There is not much difference between a state sanctioned monopoly and a state controlled monopoly
PG&E has no competition and no pressure to perform
@t3703@ArtanXhezairi And why do I care if they make profits?
Rn they’re making profits by cutting power to a million homes, creating vast and untold negative externalities.
A government run entity would stomach the losses and keep providing power
@eigenrobot This is dumb bro
Modern satanism is about satan as a symbol of rebellion against authority, the liberation of mankind
Nobody who calls themselves a satanist believes in the literal Biblical Jesus or God or Satan
@Noahpinion Extreme selection bias — for many years getting an American visa was the height of status for Indians, not to mention colonial imparted English knowledge
Still, Indians not common among the ultra rich. Perhaps takes a few generations to build that kind of success
@LoprestiJohn@Noahpinion Serious brain drain, but we do that to all countries lol. The ideals are slowly changing though, and talented people remain in India more and more
It’s still true what Christopher Hitchens said, likening the judeochristian faiths to a “celestial North Korea”; religion is ultimately incompatible with liberalism
@computergorl It’s important to note that there is no religion that believes in the freedom of religion. Islam goes so far as to advocate the death penalty for apostasy
liberalism was born in religious societies, but I’d say liberalism is a product of enlightenment rationalism/realism
@asteroid_saku High orders of networked complexity lead to everyone accepting Douglas Adams style absurdity as the only good lens through which to process the world, i.e. irony
@flevestanagan Facebook already struggles to be at the center of the conversation politically. Twitter is the most political online platform that exists. Presidents and dictators come to shitpost here — the conditions are different
@flevestanagan I’m saying the reach and breadth of organic political twitter content is nothing like what’s on Facebook. The fb newsfeed algorithms are not likely to give you the kind of organic reach that twitter will, so you end up paying for promotions
@flevestanagan For both platforms political ad spend probably encompasses a very small fraction of revenue; but both want to be important and powerful in politics anyway. Twitter does that quite successfully without ads — that’s all I’m saying
@Noahpinion You have exactly zero evidence this is true, you just want it to be so you can explain away 2016. Hillary spent more than Trump, and Trump got billions of dollars in free coverage anyway
@Robyn9124 nobody went to jail boss
the big banks sold billions of dollars in shitty MBS to mid size banks after they realized they were worth shit, ruined them, and then faced no heat bc huge liquidity injections from government
@Robyn9124 it's true that it's a bad temptation to blame "CEOs" for gigantic systems level failures and 'rational bubbles' but that doesn't mean Goldman and Morgan stanley weren't doing reprehensible things during the crisis
@geekethics@Robyn9124 They did lie about the MBS lol that’s the point. After they found out how trash they were, the went across town unloading these toxic assets without telling the investors that anything about the supposedly triple A rates bonds had changed
@wb_thorne@Noahpinion When did we talk before?
It doesn’t matter if it’s extractive; that’s really a moot point. It takes all kinds of rare materials dug out of the ground to build batteries and solar panels which eventually die. Breedable thorium is one thing we are not short on.
@wb_thorne@Noahpinion Its a pipe dream only because regulators vehemently disallow new technologies from being tried in this space, going so far as tinker bill gates company from building a prototype in China
@bigmastertroll They all believe the former, zero of them believe the latter. To be fair, people have a tendency to become true believers of ideologies that suit their incentives
@Aella_Girl Getting rid of amazon would massively harm hundreds of thousands immediately. The death of Wikipedia would be sad but manageable, recreatable
@jdcmedlock@JohnCarltonKing Not saying that good pharma raises costs, only that high profits (and therefore costs) are necessary to create great pharma companies
@visakanv To be fair, these dreams are common among American students to the point where you see memes about them. I don’t think it’s necessarily even an issue; when you try very hard to achieve something, obviously your subconscious will imprint on it
@visakanv Ok, perhaps I can’t relate because I don’t ever get nightmares so bad they disrupt my sleep. I have a lot of sympathy if that’s the case. To me these exam dreams are a cute phenomenon:
the financial transaction tax is a really terrible populist idea
HFT makes markets more efficient and less volatile, and is now a core part of our financial infrastructure
there are lots of firms who stand to profit from HFT being destroyed
https://www.econstor.eu/bitstream/10419/154035/1/ecbwp1602.pdf
@wesyang Ya but of course it’s the other people and not me who are sheep :)))
i.e. you are vastly underestimated how nourishing and fun it is to become a true believer. Most people know something’s up and do it anyway for spiritual and social status reasons
@JohnCarltonKing@Noahpinion There are no prior qualifications that guarantee or even suggest a good fit for the office of the president
We all vote based on aesthetic appeal
@JohnCarltonKing@Noahpinion You’re making a second order judgment here: I don’t want to vote for him because I think he’s an electoral failure. The Keynesian beauty contest. Truth is, I consider the Obama administration pretty awesome. If old man Biden had anything to do with that, he has my confidence
Only makes me respect him more. There are very few journalists with such intellectual clarity that they are willing to put skin in the game and risk public humiliation to prove an empirical point. He did more to convince me that water boarding was wrong than anyone else https://x.com/TheSocietyDude/status/1190491153998778368
@t3703 “In 2017, aggregate revenues for HFT companies from trading US stocks was set to fall below $1bn for the first time since at least the financial crisis”
The share of revenues taken by HFT is small
@Slayer1cell@JohnCarltonKing@armchairshrink trump's base isn't interested in trust busting tho? he's loosened up a lot of FTC regulation on the down low. like getting rid of net neutrality for one
but the economic consequences of breaking up even one of the tech giants is titanic compared to minor dereg
@Slayer1cell@JohnCarltonKing@armchairshrink wrong -- the consumers don't care and there are tons of monopolies that harm them far worse than google does. it's a good political target so a coalition of politicians and journalists have roused crowds with misinformation
@Slayer1cell@JohnCarltonKing@armchairshrink plus the Pew approval ratings for the tech companies is much higher than companies of any other industry -- nearly 75% for amazon
@PrisonPlanet We’re just as paranoid today. Why u think people spend so much time about websites collecting data when it hasn’t realistically harmed 99.9% of users
@NickMeier21 I mean m4a on its own is supposed to kill like 2 million jobs by reducing healthcare overhead
Clear that even without the funding side it might spike unemployment. There are always downsides
@alexandr_wang What does this even mean? Building things requires a million transactions — between founders and VCs, companies and employees, firms and regulators
@alexandr_wang And what about the banks in NYC building novel financial products?
I think what you’re getting at is that the transactions in the tech sector tend to be more nonzero sum than other transactions
@josephlei@alexandr_wang Uber, Lyft, Airbnb, Salesforce ... I can think of tons of SF companies that play the algorithmic middleman. In fact, Silicon Valley is better at playing middle man than anybody else
why this is almost definitely untrue or misleading:
- short workweek is a "low hanging fruit," i.e. major companies have probably been thinking about this for a hundred years
- in a country where the gig economy is totally normal, there is no cultural barrier to short work weeks https://x.com/scottsantens/status/1191021299495264257
there are:
- per employee fixed costs (i.e. Zucman's "head taxes")
- diseconomies of scale from larger employee bases via communication cost; breaks Bezos' 2 pizza team rule
also, i'm definitely sure they managed to find a way to get employees to work from home on off days
@TomValletti the concept of the 'network effect' better explains this point. The value of your data to the network is worth N^2 if it's worth N to you
also you'd have to expect everyone to deeply understand the concept of a table join to satisfy the paper's most basic premise
@jdcmedlock Why is it that this coordination problem is so difficult? For example, a grocery store may purchase from thousands of different suppliers across the world & it doesn’t consume 1.75% of GDP
I’m sure mandating one food supplier would lower these already low costs
@ryxcommar This is completely true. Any community that doesn’t reward its highest impact members (blue checks, follower counts) will find its stars bleeding away to other platforms
@jdcmedlock Not to be reductionist but I’m pretty sure this is what algorithmic market makers like Uber do all day long, a million times a day
I’m sure you can’t fix this problem with software, because it would’ve already been done. I guess I’ll look deeper into why not
@inspireprag@trepur349 If this were true, VCs and entrepreneurs would be clamoring to break up big tech. And yet, that’s not what we see at all. If anything big tech encourages entrepreneurship by itself maintaining a portfolio of acquisitions and investments
what we should've done in 2008:
- no bailouts for Freddie Mac, Fannie Mae or big banks (all would've survived except for AIG)
- this would've destroyed single family homeownership model
- incentivized destruction of zoning laws
- universal housing stipends on the order of $1tr
- Fed opens up paper markets for non bank entities like GM so they don't die in the crossfire
without taxpayer subsidies on mortgage capital w.r.t. Freddie and Fannie, and also private label MBS driving capital costs down, single family homes would not be a viable model
In truth massive crises are the best time to drive systemic change, both in the markets vis a vis entrepreneurship and in government with legislation. Desperation makes it easier to pass extreme measures
The truth is Bernie and Warren come closer to this model than Obama or the other neolibs ever did. But the issue is that they wanted to bail out the delinquent homeowners only, which is the same exact thing as buying a bunch of crappy MBS from the banks.
@trepur349 what are those cases exactly? no matter which way you slice it there's no monopoly
in news distribution, it owns less than 15% of market share
in the social media space, it has competitors: tiktok, snap, twitter
in the ad space, it competes with google and ALL offline ads
@EricRWeinstein you're wrong mate
the presence of nuclear weapons makes war unconscionable and rare
it stabilizes the world power equilibrium by discouraging opportunism - we make our own luck
we make our own luck - the presence of nuclear weapons makes war unconscionable and rare
they stabilize the world power equilibrium by fiercely discouraging militaristic opportunism; Oppenheimer deserves the Nobel Peace Prize https://x.com/EricRWeinstein/status/1191562230514368513
this is beyond silly - we've never known what makes voters tick, there's no easy way to convert a voter through gimmicks, and it's pure lunacy to think algorithms are any more black boxy than, say, what nytimes or a cable news channel decides to report on https://x.com/naval/status/1191559363393015809
please open source the decision making that led CNN to play Trump campaign speeches unedited for hundreds of hours or to push the "two flawed candidates" narrative
and let's say they published the ads model or the newsfeed model: it would be completely unintelligible. these things aren't constructed or meant to be understood by humans
@grahamwelling16 The bailouts didn’t save anybody from losing their home. Govt just bought all the downside risk. Fannie Mae and Freddie Mac make it easier for everyone to get home loans, not just subprime — we subsidize homeowership
If they had gone down, we’d be living in a different world
@JacksonKernion@sbuss@yimbyaction Yeah, would greatly appreciate a rundown on why these companies don't push for pro-growth housing candidates despite it being extremely good for their bottom line
@grahamwelling16 Not at all — I’m saying we should’ve handed out housing stipends (perhaps by extending the Section 8 program)
Let the banks deal with their delinquent homes
@grahamwelling16 Homeowners already did lose their homes en masse ... nobody bailed them out. my goal is that we admit as a country that homes are not a good investment, move to a rent over own society, have a bunch of delinquent properties be repurposed as denser housing, etc
@accountable_gov Counterpoint: we should be wary of the Times
They have a clear ideological agenda and have profited greatly under the rise of Trump
It’s silly to think they’re in trouble, and we should be treating them like we do any other for profit co: with skepticism
@DeAngelisCorey We should be running prediction models to see how well a certain student should do on a standardized test based on income, family history, etc. and then rewarding schools based on how much they beat the prediction
@DeAngelisCorey There needs to be *some* anchor to make sure that school curriculums don’t deviate too far from each other — our system will get taken over by political and religious schools with no connection to our shared reality
@Noahpinion this should be like the very last priority for Mars
there is a whole giant ass planet to search for life there and we're worried about contaminating some miniscule surface area with bacteria?
@JacksonKernion@CascadianSolo It’s a perfectly valid choice to want to live in a rural area, and we should respect it. Find a cost effective way to make bucolic life sustainable
@mattyglesias the proper role of government is to be only slightly more powerful than each individual element of private enterprise and earn the keys to the kingdom
bill gates wealth in his own hands: saved something like ~150 million lives by some measures in the most efficient manner possible
bill gates wealth taken as wealth tax: funds something like ~10 days of medicare for all https://x.com/dealbook/status/1192212157422813186
@wesleyytian bureaucracy is inescapable even in dictatorships — what’s efficient is decentralized power, so lots of different people can run their own experiments
@JohnCarltonKing Nah, Iowa’s demographics (extremely white libs) make it a strange race. Currently 4 candidates are essentially tied at an unstable equilibrium. This’ll collapse towards some clear front runner in the next few months as Iowans become absolutely sick and tired of the campaigning
if you see this story and think the problem was as simple as “forgetting to program jaywalkers”, you’re not thinking critically.
A general rule: if you can figure it out, a team of highly paid professionals with their reputations on the line can figure it out https://x.com/chimeracoder/status/1192381159851741184
@lw_populist@naamamarom@ne0liberal I unapologetically think that Gates is a better utility maximizer than the US govt, or a universal UBI of a few dollars per each American. This is obviously not even close to true for the majority of billionaires
@shoefaceblue@promexico@AgiaTheBun I agree; Bill Gates is not the rule. However, of all the richest Americans, most are philanthropic. Take buffet for another example
@shoefaceblue@promexico@AgiaTheBun Not necessarily even opposed to the wealth tax; just to the zealotry of confiscating billionaires’ wealth.
If your worldview boils down to fighting conspiracies by evil billionaires, it’s likely you bring nothing to the conversation
@smegmatorture4@sebpaoli@AsVacation@ne0liberal@besttrousers My man you’re beating down a straw man. School choice programs provide universal vouchers and have schools pick admissions via lottery to equalize opportunity: it just lets people choose which school their kids should go to
Won’t work. Without rewarding the few Machiavellian IG fanatics who try to collect as much fame as possible (twitter accomplishes this by handing out blue checks), the high value contributors will all leave
social capital flight https://x.com/WIRED/status/1192962986224128005
@JoeDewar@wesleyytian More like ~500, and their entire lump of capital accumulated over several decades gets spent by the federal government in 6 months
@Goodtweet_man One can’t help but wonder if self mastery is the intention here or if it’s a kind of a sexual politics. An honest person can wonder. Of course, I think writing “not jerking off causes violent tendencies” headlines is 100% a form of sexual politics, so grains of salt all around
In Kendrick Lamar’s song “How much a dollar cost”, Kdot comes out in endorsement of the universal basic income to protect the dignity of the most destitute.
In this essay, I will
@stitchyboy1872@Goodtweet_man is it not possible to masturbate without being enslaved to vice? is it not possible to eat in moderation without becoming a glutton?
when someone has an eating disorder, our advice to them is usually not to quit eating cold turkey
both extremes are forms of slavery
@NeoLibBen tbh knowing a shit ton of languages doesn’t inspire that much confidence in his intelligence on its own
I think warren, booker, klob, and now even Bloomberg seem just as smart
Could more easily tell you which ones I think are dumb (beto, May he Rest In Peace)
@JohnCarltonKing to be honest it kind of says a lot about the strength of our system that the richest human in the world is a better utilitarian philanthropist than our democratic government will ever be
@armchairshrink@ExLegeLibertas@JohnCarltonKing These guys just need to admit they don’t like Biden lol, No need for alt facts. Obama has repeatedly said it’s not the place of a president to meddle in a primary by endorsing a candidate because he’s, you know, a principled and excellent man
@armchairshrink@ExLegeLibertas@JohnCarltonKing He said “you don’t have to do this” as someone who’s concerned for his friend. joe Biden’s fucking old and the presidency is probably an immensely stressful job, plus he’s had a difficult few years
@armchairshrink@ExLegeLibertas@JohnCarltonKing He’s helping staff up the Biden campaign and personally overseeing strategic decisions according to every reputable source. That’s about as far as you can go without literally endorsing Biden aloud. Y’all gotta read between the lines. He didn’t endorse Hillary in 2016 either
@armchairshrink@ExLegeLibertas@JohnCarltonKing Personally I do plan on voting for him because all the alternatives seem to be either warren or Bernie. And just for the record, Obama doesn’t like warren at all
@ne0liberal don't think this quite sums it up because new york has similar concentrations of wealth and inequality, but it's not even close to as bad as SF when it comes to civic decay and lawlessness
@wh0sthatd0g@ne0liberal That’s a thought, but probably not the biggest contributor. Housing costs are high in both places if you want to live at the center of things, but New York has a lot in low end housing & something called “right to shelter” laws
@JohnCarltonKing Clinton oversaw PNTR with China and China’s entry into the WTO, possibly creating one of the greatest living examples of poverty reduction and human welfare increase the world has ever seen
Everything else, including the weakening of our welfare state, is relatively unimportant
@JohnCarltonKing I’m in favor of guaranteed income to increase our welfare spending, but we are basically only slightly below the OECD avg in terms of welfare spending.
In the war against extreme global poverty, though, nobody has a better legacy than good old William Clinton
@JohnCarltonKing again you're preaching to the choir here. The CCP are the biggest living threat to the liberal international order (other than maybe itself under rule by idiot populists). but that really doesn't negate the suffering of a half billion humans in destitute poverty
@JohnCarltonKing I happen to have hope that the West can have its cake and eat it too: empower the Middle Kingdom and retain control of the global order. China will slowly liberalize, in fits and starts. The HK protests demonstrated the limits of their power
@computergorl honestly I see this as a good thing: as a side effect of ubiquitous material wealth, we're able to split into consumerist tribes. in other social circles, it's Jeep vs Chevy, adidas vs nike
@computergorl I was thinking of this exact post. At least iPhone users aren’t killing android users or vice versa. This sort of tribalism almost seems productive
@computergorl I believe this is what warren buffet calls a “moat” and why Coca Cola drops millions every super bowl on 60 second sequences of vivid fizzling water falls of cola. And yeah, it does seem politics/culture wars are replacing religion
https://x.com/tszzl/status/1194846641985138689?s=21
@JonFilmFan the attached strings cause a lot of stress and bad welfare cliffs
much better to make programs universal and then claw back the handouts via tax
lmao y’all remember that cringe tweet about hating rural folk and their healthcare? I’m literally hearing people talk about it on talk radio and they’re explaining what “getting ratio’d” means
@CascadianSolo there will be absolutely no repercussions for him and this thing will be forgotten as the eyes of the mob shift in no time at all, I wouldn’t worry about it
@JaronGubernick but we don’t really have to keep up with it though? that’s the beauty of capitalism — there doesn’t need to be any central planner crunching all numbers at once
@jdcmedlock even if health insurance was government provided (which I am not opposed to), that isn't the same thing as getting rid of market-based healthcare - merely replacing one layer of the value chain. we would still be wise to try and make functioning markets out of the rest of it
@AndrewYang and his anti-automation hordes are wrong about a lot of things, but in particular wrong about exactly what kind of person’s job gets displaced; it’s always the manager, not the worker
the last decade of automation has almost purely been about processing information better: where there were used to be managers setting cab wages and fares for each taxi company, a handful of competing algorithms set a trip fare now. The driver’s life is relatively unchanged
@dangercat5000 they’re hurting mostly because the rent value of their taxi medallions have gone down, which is unfortunate but efficient — medallions are a societal grift
The future is will increasingly divided into people who work “under the API” and the people who build the API — but the middle managerial class will be the first to go
@_debarshi@AndrewYang it’s true that some jobs may move around geographically in any vibrant economy. Easy to deal with in the abstract economic sense, but retraining and moving 300 miles is difficult. I don’t see that yang is seriously addressing this though
@Neoglobaltarian@JohnCarltonKing@jdcmedlock add those incentives right back but not via the payroll tax mechanism. When I say our hc markets are non functional, I don’t just mean insurance. For example, why do most hospital on earth not publish outcome statistics? What are we even buying when we choose a hospital/doctor?
@Neoglobaltarian@JohnCarltonKing@jdcmedlock why is the fda process ridiculously slow? why do we not allow foreign doctors to practice in the US? why do we allow an organization of doctors to limit the future supply?
we're not even pretending that this is a market
@dangercat5000 There will be physical storefronts for a long time — people like to hunt for items in a tactile way. Even if they all go the way of Amazon Go, people will create new jobs as has happened all throughout history. The only question becomes location and retraining
@JohnCarltonKing John, you have to admit it would be incredibly cool having the first gay president of the United States. Maybe cooler than first women POTUS
@JohnCarltonKing respectfully, I think it's a much more impressive advance for a gay man to become president (or presidential candidate) than for a women to do the same. we legalized gay marriage <5 yrs ago. repealed DADT few years before that.
moot point tho, biden is gonna take it
@jdcmedlock@LittleKeegs0@Neoglobaltarian@JohnCarltonKing Ideally you’d have someone whos paid to predict outcomes well (“prognostician”) based on patient’s symptoms and income group, say. Then you’d rate the doctor on how well they outperform the prediction
@conorduffy_7 the discourse around calling things a human right seems a bit cynical. of course food and water could be called human rights, but:
(1) nobody is asking for price controls on food
(2) none of the prominent leftists are promising to end world hunger
@Shane_G_Warren@conorduffy_7 ofc, we have cash based subsidies for food via SNAP and for housing via Section 8. None of that warrants a massive state funded housing program, or “national rent control”. The housing crisis was engineered by the State and now they’re selling themselves as the solution too
@Shane_G_Warren@conorduffy_7 When ideologues claim something is a human right, they mean that it should be free (and only free for their electorate). Which is clearly counter productive. That’s all I’m saying
@micsolana The forces in favor of stopping hurricanes seem to me much stronger than the forces ostracizing mildly strange ideas
If you told me you could blow up hurricanes my first reaction is “awesome”, not “this is weird and dangerous”