-12 karma · joined April 5, 2021
You can see it even today. People who know who they are...are in the thousands whereas people like Bezos and Musk seek to be known by the whole world.
If we know something about the promotional industry is that you only become famous if you want to.
Except for Google.
It's the other way around, Doge being worth more than Ford and Twitter is just the billionth datapoint which tells you this is the world we live in.
If you somehow managed to miss all the others, this one is your opportunity to surrender to this fact. You got to take your opinion, blindfold it, load it in a truck and put a couple of bullets in the back of its head.
Accept that your opinion is worth nothing it and start betting on people's opinions.
That's how you make money
That would cause the aforementioned economic collapse not to happen at all...
In such scenario the smart person is not the one who postpones gratification by storing the marshmallow, but the one who eats it now because there is no future
It's really interesting, BTC moves the analysis from balance sheets to people's psyche.
Both companies are leechers for government money, that's all they do.
The best product from Tesla is the hype they sell to public officials to take government money and the hype they sell to retail investors to take their money to pump the stock.
People compare it to Amazon, they are not even in the same league, not the same ballpark
Also those who automatically assume the political leaning of the person they are interacting with.
If I am with a hot college girl who is a Bernie supporter, you bet I'd be strongly and passionately arguing for the redistribution of wealth and a 95% income tax because that creates empathy and increases my chances.
If I am pitching to a VC in Texas, you bet I'll be strongly pro-Trump and pro 2nd amendment, because it creates empathy and increases my chances.
Politics is a tool to improve your quality of life, and I mean by acquiring friends and allies while talking about it, the trick is to not have a political opinion and polish your acting skills and suddenly the sky is the limit
No, they don't. BTC is successful because citizens were against bailouts and yet government did bailouts to secure the "common good"
It's also popular because the Fed has a 2% inflation target whereas the population prefers a -2%
Government can kill btc in 3 seconds if it wants to do so...it just needs to give people what they want, what's popular so to speak, regardless of outcomes
But apolitical people with no real ideology who just limit themselves to bet (financially and socially) who will win, they are even smarter
Interesting take and in line with what he said in the past,
Druckenmiller and Soros on the other hand are bullish
The first time he did it, well it was not effective.
It's not like people were not informed enough about war crimes. The Abu Grahib dossier had come out 3-4 years earlier.
People perceive this sort of stuff as far away, don't want to look at it or just simply block out the information because they want to believe whatever they want to believe.
Whistleblowing is ineffective to change the way a system operates. It solely make the system cover up better, and achieves the goal of having some heads roll (more often than not the responsible people for security and info compartmentization)
Or not building products which collide with platforms.
As a general rule, if you have to use offensive lawsuits you are not smart enough to do it cleanly.
This is true in business and everywhere else
People have hated rich people since the dawn of time, America is no different .
US tax rate is getting more and more in line with Europe, and why wouldn't that be?
Hatred for rich people is something known for centuries now.
Taxes aren't just a way to raise money for federal and local governments, they are also an elegant way which society has to allocate social hatred. You need a corporate tax because people hate corporations, a wealth tax is being discussed and on the horizon because people hate the wealthy, this capital gain tax is on the table because people hate those who make money via capital investment, that's because it's very far removed from doing any work which is perceived as "real work" by the population.
That is some sort of Politically correct thought where you give everybody participation trophies and everybody is successful (which means that nobody really is)
Like everything there are metrics, Linus doesn't figure in any of the polls which ask people who they admire the most.
Even those going down to #500.
People like Bill Gates, Steve Wozniak, Steve Jobs, Larry Ellison, Larry Page, Sergey Brin...they all figure into those standings.
Nobody knows who Linus is..in all the "most admired" polls, even those computing down to #500 he doesn't appear.
If you want to be remembered you have to make an effort to put yourself out there...that's the reason why Musk is so shamelessly self promotional in the social arena. Same for Larry Ellison
Bill Gates even, although much less shamelessly.
Also when I said blindly follow the Open Source project leader I was referring to Buterin and Nakamoto
Although for a billionaire like him the loss of social reputation if he's wrong might hurt more than say some extra 100M if his long financial bet on BTC turns out to be right.
I think there is a whole world of difference between 60,000 people singing along to something you wrote and having 6,000,000 visits to your Github folder.
Unless you are a robot the 2 feel and therefore are completely different feelings.
Matter of fact the first is a feeling, the second is an acknowledgement that your code works fine.
Businessmen seek to add monetary compensation to the aforementioned acknowledgement , because they know that the sole acknowledgement is not enough to propel future goals they might have.....including playing music in a stadium such as the late Microsoft co-founder Paul Allen did, or hosting a music festival such as Steve Wozniak US festival
Nor you are acting in movies which again make people dream and embrace you as part of their life.
You are writing freaking code, if you don't get the money, all you are left with is the tepid admiration of nerds around the world...can't imagine anybody desiring that.
If Linus were to create a startup tomorrow it's not like people would waive their salary for the opportunity to work for the great man.
To summarize if you don't get money you are left with absolutely nothing in hand.
Costly infrastructure building is actually neutral or maybe even net positive because people have the impression that they are screwing the government over, which is always good for self esteem.
I bet this guy who skipped work for 15 years was super confident and extremely prone to spending the money he pocketed (but did not earn)
Open Source won't ever make the inventor (and those who blindly follow him) rich in the long term. There is an initial wave of enthusiasm which provides a time window to unload the bags though.
The fed is non elected. there is a separation between Govt and the Fed
Public cannot vote on the Fed Fund Rate
Who wants to pay for every transaction? Not the consumer! It's a wet dream of economists, libertarians and dataminers so that everything is deterministic , discrete and measurable.
All that is signed off and approved by the popultion. In the beginning the nascent financial system which today is labled "legacy" was the wild west as well. Then it was an organic growth of scrutiny because it was demanded by the population. Every megasocial system such as US, EU, China...even North Korea organizes itself based on the population desires.
All those things aren't imposed from above by an omniscent and evil dictator or done in the dark, the Patriot Act is supported by the majority of the population, so it's all the rest.
People accept and embrace the government playing the role of policeman in the financial and capital markets.
You are the fringe minority, and frankly people in the cryptospace lack the pragmatism to understand that they are a fringe minority.
People who are the fringe minority should hide and find holes in the power of the controlling authority and USE THEM AND KEEP THEM TO THEMSELVES opposed to creating mega structures to invite and pursue those who sign off and approve the aforementioned authority. Such attempts will fail because the target demographics is totally onboard with the authority.
> Uniswap had $10 billion in trading volume over the last week. That's in the same league as major exchanges like Bitfinex and Kraken. It's also extremely easy to use, with no sign-up/registration required, and a trade being possible with 3 clicks.
Sure in the ETH ecosystem, tell me again where can I spend ETH or Stablecoins based on ETH? Nowhere.