It is a similar kind of lending loop to that which went on during the late 1990's leading up to the 2000 crash. A lends to B lends to C lends to A.

There is a famous quote from the polish economist Kalecki, that "economics is the science of mistaking a stock for a flow". Essentially this form of lending continues while everybody can make interest payments, and blows up horribly as soon as somebody can´t - as I have no doubt all those concerned are fully aware.

> It is a similar kind of lending loop to that which went on during the late 1990's leading up to the 2000 crash.

Interesting...

Time? He´s busy starting a company, taking the time to drag out decade old emails and digging out the meta data for a journalist who is borderline stalking (assuming he even has them somewhere). I wouldn´t give that the time of day either.

not saying you’re wrong or right here, but you’re the type to believe that a girl’s not responding to you because she’s “busy”

There are a lot of very distinctive versions of English floating around after the British Empire, Indian newspapers are particularly delightful that way - but there is as the author says, an inherited common educational system dating back to the colonial period, which has probably created a fairly common "educated dialect" abroad, just as it has between all the local accents and dialects back in the motherland.

That's not a very good argument, because then you could say the same for American, Canada, South Africa, Australia and so on. If recency is an issue, then here's a list of colonies that got their freedom around the same time:

Cyprus, Somalia, Sierra Leone, Kuwait, Tanzania, Jamaica, Trinidad and Tobago, Uganda, Kenya, Malawi, Zambia, Malta, Gambia, Guyana, Botswana, Lesotho, Barbados, Yemen, Mauritius, Eswatini (Swaziland).

If what you're saying is right then you'd have to admit Jamaican and Barbados English are just the same as Kenyan or Nigerian... but they're not. They're radically different because they're radically different regions. Uganda and Kenya being similar is what I would expect, but not necessarily Nigeria...

>They're radically different because they're radically different regions.

They're radically different predominantly at the street level and everyday usage, but the kind of professional English of journalists, academics and writers that the author of the article was surrounded by is very recognizable.

You can tell an American from an Australian on the beach but in a journal or article in a paper of record that's much more difficult. Higher ed English with its roots in a classical British education you can find all over the globe.

That's not my experience at all. I can quite easily identify Kenyans, Australians and English from the way they write and they're all rather unique.

Go read some Kenyan news. It's very obvious.

If they optimize though - and this is coming at some point - local AI becomes possible, and their entire business case as a cloud monopoly evaporates. I think they know they're in a race between centralized control, and widespread use and control, and that is what is really driving this.

Yes, if you see the LLM as a compressed dictionary of all available information.

But if they succeed with agentic reasoning models (we are absolutly not there yet) then I think meritocracy will be replaced with assetocracy. The better the model, the more expensive it will be and the better the software will be.

I don’t worry about it myself, but I do worry for my kids. Im not even sure what to teach them anymore to have a shot at early retirement (and they keep raising the retirement age too).

Teach them basic financial literacy. The time value of money, the power of compounding, the relationship between risk and expected returns. Grade school does not cover any of this.

It does not matter what your income is if you cannot budget and save.

Financial literacy is a red herring. If one only stores their savings in gold or an index fund, that gets them practically all the way there. It takes all of two minutes to teach it. It compounds itself.

Risk too is sort of a red herring. Just buy in whenever it dips, and you are set. Diversify just enough to dilute the aggregate risk, and it practically disappears.

Savings are not even possible with low income, only with medium to high income. The lesson to learn is to avoid wasteful excessive spending that benefits oneself only in the moment.

Yes, keep focused on the future, deny the moment. Avoid testing your own experience about what waste and excess mean. Follow the herd and treat participation algorithmically. Buy in. All key points for a satisfying life well lived.

Plenty of people have bought what they thought was the dip, only to watch an instrument go to almost zero and never recover. Look at Bed Bath and Beyond. It’s not quite that simple.

Time in the market beats timing the market. But we’re also probably talking about broad index funds and not BB&B stock.

If you buy junk with all of your money, that's on you. I mentioned gold and (broad) index funds, although a few select cryptocurrencies also work. Buying junk must be restricted to a very small amounts only, to what one is willing to risk.

The best thing to teach them is how to use AI really well, how to be educated enough to do so, and perhaps how to improve AI.

Military then a trade then a small business with employees doing the trade then done.

Hard disagree. How is putting guns in your children's hands a wise and loving first step?

This assumes you believe in the scaling hypothesis.

>assetocracy

That's an interesting neologism, but the existing term for "rule by whoever controls the most expensive assets" is "capitalism"

You can spend $100B on a assets but it doesn't mean you'll turn a profit.

Capitalism certainly favors those with the most... capital, but there are quite a few other factors. Market fit, efficiency, etc. The Dutch East India Company had the most assets, yes, but also the best ships and a killer (literally) business model.

The notion of a sector where success is determined almost entirely by who can stockpile the most assets (GPUs in this case) is a somewhat unique situation and probably merits its own term

Well honestly, this security person thinks its a terrible idea - but needless to say the people selling those systems disagree - and for non-technical management, it ticks the compliance box and they get back to their jobs.

And since the economist's main skill at math is fitting a very short ruler to a very large curve... i wouldn't put them ahead of lawyers...

There are economists and there are economists. I doubt Pam Bondi was top in real analysis or other college level maths. Maybe, but I doubt it.

Feedback loops. Always with the feedback loops.

It´s not just the legal system. A lot of US Doctors are typically paid on a piece rate basis, and the medical records systems are extremely fragmented, so there is an incentive to order repeat tests (as you get passed around from specialist to specialist), and no incentive to put the systems in to make that unnecessary.

There is a fair bit of grooming going on out there on the private discord channels and similar.

No, it does make sense. Most of the purported growth in government spending is just using raw figures, and not correcting for either inflation or monetary expansion. It is a convenient mistake.