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> Look, I hate Single Family Housing as much as anyone - but roads are BY FAR the most expensive part of infrastructure you mentioned - and those are financed by gasoline taxes.

I don't think that's true. Gasoline taxes aren't high enough to pay for roads.

https://frontiergroup.org/resources/who-pays-roads/

It seems as of 2015, 50% of road related costs came out of general taxes. And as gas taxes have remained fairly constant, while roads have become more expensive to repair as they get worse, I can only think that number has gone up since then.

%s/Property developers/Property owners

If developers are so well represented, why is it so difficult for them to build in most American cities?

> without the meat, whereas Indian and even Chinese food seem to be a little more nutritious.

> even

Interesting word to describe the cuisine with arguably the richest history of vegetarian dishes/diet.

> are constrained by a centralised body

> supply outstrips demand quite a bit

How does that follow? It is constrained therefore supply is artifically lowered. No matter the demand, no one can supply more doctors than the body permits, therefore the price for each is quite high.

Yes, it would be much better for inequality if everyone's salaries were low and the trillions of value created in tech to go to a couple VCs, their LPs and their trust fund kids.

Yes, the poor shareholders that don't work for their money should be given more of it. Tim Cook doesn't deserve any of the $2T value Apple created during his tenure... it should go to the trust fund kids.

Instead of complaining about executives earning so much, why don't we find ways for you and I to emulate their bargaining power instead?

I imagine the difference is that copying a prompt is quite easy if you can get it to leak.

Copying most CRUD apps still takes many SWEYears.

Can you elaborate? I don't use Databricks, but it seems to me a like a bread and butter SaaS infrastructure offering.

> I literally work at an automotive OEM

An automotive OEM would probably have a hell of a time scaling a video streaming website or a search engine as well. Yet it scaled when a tech company did it.

> Tesla owners bought a product called “Full Self-Driving”.

Can you point out where I used the word "Tesla"?

You don't know how much a map costs to make, nor how much it would cost to maintain long term. Nor the cost of amortizing over 30 years. You're just making claims with nothing to back it up.

> LOL! Not even close to true. “We can do it” != “we can do it without burning billions of dollars per year”

"We can do it" = closest thing to solved. No one can say without a doubt we can do it for the other parts.

> How is that not deception in your mind?

You used "fraud". Fraud requires damages to a party. All the VCs have asked these questions and were given answers satisfactory enough to invest.

Here's a basic one they can tell investors: the top 10 cities for ride-sharing comprise 70% of the total market. It will cost $X to map and permanently have access to the vast majority of the market. We believe in addition, we can induce demand so this 70% of the market becomes a massive multiple of the current market.

If you're going to be this snarky, at least do some basic research.

Ok, and when they want to expand to Knoxville, TN, they'll have a couple people take X months to map it (in parallel with all the other cities). Mapping is probably the closest thing to a solved problem in autonomous driving.

> you’re committing fraud.

Where is the fraud? Waymo and Cruise are not selling cars. They are selling only the rides which they have the ability to provide. Not only that, they pretty prominently display mapping as a part of their stack, so it's not like investors are deceived.

You describe mapping and cherrypicking as intertwined, but they're pretty orthogonal to each other.

You can cherrypick without mapping (Nikola rolling a truck down a hill).

You can map without cherrypicking (Waymo/Cruise allow you to record your ride in fully driverless vehicles in SF right now).

> sometime their developer experience is inferior to what you get with off-the-shelf OSS.

The internal version control system that I use (Fig, which is apparently based off Mercurial) is so good I've basically never had to think while using it. I can't really say the same about git.

CodeSearch is also, AFAIK, a lot better than what you would get OSS.

I think the productivity gains across 100K engineers is definitely worth it.

Looking at this guy's career:

Corbis Starbucks Best Buy Symantec

Why was he considered the best choice to run a health-tech Bet?

Interesting. I know Google had legal issues in Australia(?) because they had a little box that would scrape an answer from a website without you having to go to the website. Content creators are clearly not going to be happy with this, but not citing sources leads to the same confidently incorrect answers people have pointed out in ChatGPT.

I wonder where this will go.

Can you delve into the complexities? To me, if clawback were not available, it seems to create the perverse incentive to start a ponzi scheme and then put the money in a shielded "investment" in my friends' overvalued startup.

> It's actually against free market.

If you read a lot of the original liberal thought behind the "free market", it actually spells out something probably more aptly named "competitive market". A "free" as in "you can do whatever you want" market does not provide the same theoretical benefits as a competitive market (e.g. you can make models/derive theorems that the long run profits go to 0 due to competition, etc.)

Even the wikipedia page for "Free market" today includes:

"For classical economists such as Adam Smith, the term free market refers to a market free from all forms of economic privilege, monopolies and artificial scarcities.[2]"

I believe that interpretation can come from the following line in Wealth of Nations:

"People of the same trade seldom meet together even for merriment or diversion, but the conversation ends in a conspiracy against the publick [sic], or in some contrivance to raise prices."

> I understand it from a socialist point of view though.

I hope this provides further understanding from a liberal-capitalist point of view :)

I would also add that some of his arguments are just wrong?

> you probably shouldn't be doing isolation exercises unless you don't mind risking injury and joint inflammation in the long-term

I have never heard of anyone getting injured from dumbbell curls or lateral raises, but everyone I know has tweaked something from a momentary lapse of form in compound movements. Turns out moving 400lb+ pounds close to your limit regularly isn't that safe.

> No one serious uses a "leg press" - another injury-prone nightmare

I know both serious powerlifters and "serious" (non competitive) bodybuilders that use leg press as an accessory on leg days. Stability provided by machines just let you lift more weight.

I don't think there's a lack of product market fit.

People are already building a ton of products on top of LLMs - (Jasper AI, Copilot-related tools, etc.)

I would guess that OpenAI has infra, compute, and operational processes that blow these startups out of the water.

If an interested buyer wanted to monetize, I think they could do so fairly quickly and profitably.

Stop misrepresenting publications.

You can read what they've written about FTX here: https://www.ft.com/stream/555b8eaf-51c0-4d66-bbf3-dfe5dd0bca...

Here's a fun one from April 2022 (before even Terraluna): "FTX/ Defi: If it looks like a duck and quacks like a duck . . ." https://www.ft.com/content/eac0e56c-f30b-4591-b603-f971e60dc...

The things that are "ruinously expensive" are also the things we can't outsource - housing, medical, education.

Onshoring doesn't seem to me like it will improve the domestic policies that make each of those unaffordable.

Speak to any tourists visiting your country whether or not anyone would try to steal from you.

Middle class people putting old money on a pedestal and denigrating new money is so laughable to me.

The folks that do nothing but own land and raise your rent every year are oh so classy, and the folks that actually work invent things that improve your life like idk wifi are oh so gauche.

Isn't effective altruism just max_a E[benefit to society | a]?

I don't see how that can be discredited as a personal moral philosophy, even if you don't personally disagree with it.

SBF and FTX fraud doesn't discredit that it's more cost effective to educate people in certain areas than others.

Somewhat unrelated to this article, but could someone clear up a point of confusion for me?

There are people blaming the CTFC and Congress and the Democrats that SBF donated to for not regulating this.

But was FTX (the Bahamian entity) even under their purview?

AFAIK, you weren't even allowed to access FTX from a USA IP address, you had to use a VPN. You could access FTX US which was a different thing and offered a much smaller subset of the products FTX did (and that business seems solvent?)

Like what jurisdiction does the USA have over a crypto exchange elsewhere? I know anything that touches a US dollar can be tried in a Manhattan court and maybe he gets convicted of a crime and extradited here. But like Japanese banks touch US dollars as well, but the USA doesn't get to regulate them, right?

Why is that a non-sequitur? Suppose no car had a driver's license and therefore little to no accountability - is that a better world?

40,000 people die in America every year from car collisions. Accountability is necessary.

Well the interview process is more or less "are you good at probability puzzles and games somewhat related to trading."

A plausible story to me is that they were good at whatever they screen for in the interview and then at Jane Street they made a bunch of money. Then they attributed too much of that to themselves and not enough to whatever institutional processes and risk frameworks they benefited from. They bring themselves but not those processes to their own trading firm, and then boom!

What does the expression "smoke the whole pack" mean?

I Googled but there are no real results. Thanks!

I swear Ontario Teachers' Pension Plan is one of the worst managed funds I've seen. Every time I see buzzy company with little fundamentals, their latest rounds always includes this pension plan.

Can someone explain their positions? Like if they want to move along the risk-reward curve, why not just buy fewer bonds and more ETFs? Why enter VC/crypto/etc?