@maje8dm.bsky.social
Reposted
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
Incredible scenes here: Boom Supersonic is raising $300mm and pivoting to AI by signing a contract to supply its turbines as electrical power for data centers. They're even talking about converting turbines from simple to combined cycle via a "field upgrade". This is all deranged.
Boom Supersonic raises $300M to build natural gas turbines for Crusoe data centers | TechCrunch
Crusoe will pay Boom $1.25 billion for more than a gigawatt of generating capacity with deliveries of the turbines starting in 2027.
techcrunch.com
December 9, 2025 at 8:11 PM
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
Reposted
One of the things about crypto is the sheer waste of human time, talent and computing power, let alone the money. Imagine if this level of energy had gone into something socially useful instead. as.ft.com/r/1cd4200c-b...
Crypto’s rocky year
[FREE TO READ] The industry was hugely optimistic when Donald Trump returned to the White House. But bitcoin has fallen by a quarter in two months
as.ft.com
December 6, 2025 at 10:30 AM
One of the things about crypto is the sheer waste of human time, talent and computing power, let alone the money. Imagine if this level of energy had gone into something socially useful instead. as.ft.com/r/1cd4200c-b...
Reposted
Always fun when crypto is melting down, but the fundamental problem is that it’s been mainstreamed by people who should know better and, frankly, have a duty of care to retail investors that they were happy to breach to chance crime-coin $s.
The finance community writ-large is so primed to the “listen to me to get rich” logic that they’re zugzwanging themselves into crypto-nihilism. But it’s still an abdication of duty to pitch it.
November 21, 2025 at 8:29 AM
Always fun when crypto is melting down, but the fundamental problem is that it’s been mainstreamed by people who should know better and, frankly, have a duty of care to retail investors that they were happy to breach to chance crime-coin $s.
Reposted
The implication of this, of course, is that a liberal society requires pro-cognitive mores and means of imparting or enforcing them. I don't know any politician who would be willing to say, "People participating in public discourse should be obliged to think about it."
"The populist thrives in an environment where people act on their intuitions; so does the scammer. This doesn’t mean every populist is a con artist, but it does mean that they are likely to package their message in a similar way" on.ft.com/49j3ND2
By @timharford.ft.com
Vindicates a 2015 tweet! 1/
By @timharford.ft.com
Vindicates a 2015 tweet! 1/
How populism became popular
It appeals more to a way of thinking than to a set of ideas — but is it just wrong?
on.ft.com
November 13, 2025 at 7:26 AM
The implication of this, of course, is that a liberal society requires pro-cognitive mores and means of imparting or enforcing them. I don't know any politician who would be willing to say, "People participating in public discourse should be obliged to think about it."
Reposted
Performative decency is actually *so* important for this reason.
It tricks the 10% of ghouls into thinking that there are only 1% of ghouls.
And it makes the 30% of people that don't care one way or another follow the mostly decent crowd
It tricks the 10% of ghouls into thinking that there are only 1% of ghouls.
And it makes the 30% of people that don't care one way or another follow the mostly decent crowd
November 7, 2025 at 7:53 PM
Performative decency is actually *so* important for this reason.
It tricks the 10% of ghouls into thinking that there are only 1% of ghouls.
And it makes the 30% of people that don't care one way or another follow the mostly decent crowd
It tricks the 10% of ghouls into thinking that there are only 1% of ghouls.
And it makes the 30% of people that don't care one way or another follow the mostly decent crowd
Reposted
Bracing convo on what the UK cld do to boost economic growth w/ @timleunig.bsky.social podcasts.apple.com/gb/podcast/t...
How to kickstart the UK economy. With Tim Leunig
Podcast Episode · The Economics Show · 23/10/2025 · 32m
podcasts.apple.com
October 23, 2025 at 7:25 AM
Bracing convo on what the UK cld do to boost economic growth w/ @timleunig.bsky.social podcasts.apple.com/gb/podcast/t...
Reposted
Taxpayer subsidised savings is a very expensive approach to solving what is really an insurance problem.
until a dementia or stroke or other such rainy day hits you (ie something that the NHS and insurance delight in branding as not requiring 'healthcare' but requiring high levels of daily care) you ain't seen rain my friend!
October 15, 2025 at 5:58 PM
Taxpayer subsidised savings is a very expensive approach to solving what is really an insurance problem.
Reposted
I'm increasingly convinced this is the main persuasive mechanism of media, and especially social media. media, especially social media, provides a vivid sense of "what everyone thinks," which causes the viewer to then shift their view so they can fit in with everyone, and be liked and not ostracized
August 28, 2025 at 11:38 AM
I'm increasingly convinced this is the main persuasive mechanism of media, and especially social media. media, especially social media, provides a vivid sense of "what everyone thinks," which causes the viewer to then shift their view so they can fit in with everyone, and be liked and not ostracized
Reposted
Cambridge debates taught us that capital isn't as fungible as the basic f(K,L) models would have us believe. But frankly neither is consumption.
August 24, 2025 at 5:54 PM
Cambridge debates taught us that capital isn't as fungible as the basic f(K,L) models would have us believe. But frankly neither is consumption.
Reposted
In other words there isn’t the same demand for batteries as real estate nor are there production processes taking the same inputs. The fungible part is money aka how elastic the budget can be made but the outcomes won’t be the same.
August 24, 2025 at 5:43 PM
In other words there isn’t the same demand for batteries as real estate nor are there production processes taking the same inputs. The fungible part is money aka how elastic the budget can be made but the outcomes won’t be the same.
Reposted
Kalecki in a tweet.
No difference in your day to day if you're worth $30B vs $60B. But there's a big noticeable difference if there's 3% unemployment and anyone you treat like shit can tell you to fuck off and 10% unemployment and people desperately cling to their jobs even if it means being abused.
This is correct; more money after a certain point is meaningless. It very quickly becomes about power
August 24, 2025 at 6:52 AM
Kalecki in a tweet.
Reposted
Simply: forget 4.3% rate. Take yer boring dollar, turn into a stablecoin. Stake it/lock in a box, create a synthetic. Lend out in an opaque unregulated market, which turns the proxy into a virtual bean, which is planted in virtual fields. If beans grow, earn "yield", paid in beans.
August 20, 2025 at 8:23 AM
Simply: forget 4.3% rate. Take yer boring dollar, turn into a stablecoin. Stake it/lock in a box, create a synthetic. Lend out in an opaque unregulated market, which turns the proxy into a virtual bean, which is planted in virtual fields. If beans grow, earn "yield", paid in beans.
Reposted
Sports betting is a tiny proportion of gambling at Vegas. It was always the tables and the slots that were the big sources of revenue and draw. Also, most international tourists are from countries with legal sports betting. They’re coming for the shows and the glitz
August 19, 2025 at 1:37 PM
Sports betting is a tiny proportion of gambling at Vegas. It was always the tables and the slots that were the big sources of revenue and draw. Also, most international tourists are from countries with legal sports betting. They’re coming for the shows and the glitz
Reposted
the three points I often remember from my childhood in terms of 'this too shall pass' are
a) people being absolutely furious over the term 'Ms'
b) people being absolutely furious about seat belt laws
c) people being absolutely furious about smoking bans
a) people being absolutely furious over the term 'Ms'
b) people being absolutely furious about seat belt laws
c) people being absolutely furious about smoking bans
Back in the 80s when they were putting forward seat belt laws I remember my mom being angry over them. My sister for years would say she would rather be "safely thrown clear of the car" in an accident.
August 18, 2025 at 9:19 PM
the three points I often remember from my childhood in terms of 'this too shall pass' are
a) people being absolutely furious over the term 'Ms'
b) people being absolutely furious about seat belt laws
c) people being absolutely furious about smoking bans
a) people being absolutely furious over the term 'Ms'
b) people being absolutely furious about seat belt laws
c) people being absolutely furious about smoking bans
Reposted
Yes, I had a similar experience on the gorgeous Norfolk east coast where the only route from the caravan to the beach involved pushing a pram across a ploughed field. It's genuinely embarrassing for a developed nation
August 13, 2025 at 7:07 PM
Yes, I had a similar experience on the gorgeous Norfolk east coast where the only route from the caravan to the beach involved pushing a pram across a ploughed field. It's genuinely embarrassing for a developed nation
Reposted
There is a case for having it in the private sector (tho the govt will never make it!) Part of this is that the industry will be badly managed whoever owns it, so it's better for the govt that the private sector gets the blame.
August 13, 2025 at 12:14 PM
There is a case for having it in the private sector (tho the govt will never make it!) Part of this is that the industry will be badly managed whoever owns it, so it's better for the govt that the private sector gets the blame.
Reposted
As end-of-empire scenarios go it is so much more dignified to get your capital city sacked by the Visigoths than to have a bunch of illiterate rich people in their 70s doing it through a series of incomprehensible tantrums because their brains were defeated by their phones.
August 5, 2025 at 11:44 PM
As end-of-empire scenarios go it is so much more dignified to get your capital city sacked by the Visigoths than to have a bunch of illiterate rich people in their 70s doing it through a series of incomprehensible tantrums because their brains were defeated by their phones.
Reposted
the "abundance agenda" ought to include getting acceptance rates at top-end schools up to 30% or so, iyam
August 4, 2025 at 1:51 PM
the "abundance agenda" ought to include getting acceptance rates at top-end schools up to 30% or so, iyam
There will be a reckoning at some stage of all this money parked into useless investment. The "unearned" gains in crypto do not reflect any productivity enhancements or useful innovation so at the margins these gains are just inflationary. Embedding them into financial pipes risks future crisis
Crypto is not a socially useful industry. The most innocent side of it is a form of gambling. UK could make money by hosting and facilitating it, but it does so at the expense of global society and should no more do this than it should help illicit arms sales.
Ask yourself: who is it who is pushing crypto, and who wants the UK to be a market leader in it?
Is it Goldman Sachs?
No.
So who?
/1
Is it Goldman Sachs?
No.
So who?
/1
August 4, 2025 at 12:21 PM
There will be a reckoning at some stage of all this money parked into useless investment. The "unearned" gains in crypto do not reflect any productivity enhancements or useful innovation so at the margins these gains are just inflationary. Embedding them into financial pipes risks future crisis
Reposted
Crypto is not a socially useful industry. The most innocent side of it is a form of gambling. UK could make money by hosting and facilitating it, but it does so at the expense of global society and should no more do this than it should help illicit arms sales.
Ask yourself: who is it who is pushing crypto, and who wants the UK to be a market leader in it?
Is it Goldman Sachs?
No.
So who?
/1
Is it Goldman Sachs?
No.
So who?
/1
George Osborne says UK has been left behind in cryptocurrency boom
August 4, 2025 at 12:14 PM
Crypto is not a socially useful industry. The most innocent side of it is a form of gambling. UK could make money by hosting and facilitating it, but it does so at the expense of global society and should no more do this than it should help illicit arms sales.
Reposted
We have hundreds of beautiful beaches with increasingly warm seas with no visitor development apart from rundown caravan parks, rutted dirt paths and scary flatroof pubs
August 4, 2025 at 11:48 AM
We have hundreds of beautiful beaches with increasingly warm seas with no visitor development apart from rundown caravan parks, rutted dirt paths and scary flatroof pubs
Reposted
"inflation, while it looked like it was just about whipped a year ago, is still with us and unmistakably heading in the wrong direction. Rate cuts would be a bad decision right now"
Inflation is rising, and it’s not just the tariffs - on.ft.com/4minaPM via @robarmstrong.bsky.social
Inflation is rising, and it’s not just the tariffs - on.ft.com/4minaPM via @robarmstrong.bsky.social
Inflation is rising, and it’s not just the tariffs
Plus the simplicity of the Mag 7
on.ft.com
August 3, 2025 at 11:51 AM
"inflation, while it looked like it was just about whipped a year ago, is still with us and unmistakably heading in the wrong direction. Rate cuts would be a bad decision right now"
Inflation is rising, and it’s not just the tariffs - on.ft.com/4minaPM via @robarmstrong.bsky.social
Inflation is rising, and it’s not just the tariffs - on.ft.com/4minaPM via @robarmstrong.bsky.social
Reposted
The AI infrastructure build-out is so gigantic that in the past 6 months, it contributed more to the growth of the U.S. economy than /all of consumer spending/
The 'magnificent 7' spent more than $100 billion on data centers and the like in the past three months *alone*
www.wsj.com/tech/ai/sili...
The 'magnificent 7' spent more than $100 billion on data centers and the like in the past three months *alone*
www.wsj.com/tech/ai/sili...
August 1, 2025 at 12:19 PM
The AI infrastructure build-out is so gigantic that in the past 6 months, it contributed more to the growth of the U.S. economy than /all of consumer spending/
The 'magnificent 7' spent more than $100 billion on data centers and the like in the past three months *alone*
www.wsj.com/tech/ai/sili...
The 'magnificent 7' spent more than $100 billion on data centers and the like in the past three months *alone*
www.wsj.com/tech/ai/sili...
Reposted
Heroic entrepreneurship cult in practical terms has meant massive small business tax wedges. You're not gonna dominate the technological frontier if your polity can't build houses, warehouses and electrical substations because you have a broken state lacking legitimacy and money.
Britain needs to unleash the spirit of entrepreneurship - on.ft.com/471fahz
Sounds like a splendid idea. It's a pity there's literally no ideas in the article for how to do it. But great that the importance of being more entrepreneurial and pro innovation has been hammered home. Great stuff.
Sounds like a splendid idea. It's a pity there's literally no ideas in the article for how to do it. But great that the importance of being more entrepreneurial and pro innovation has been hammered home. Great stuff.
Britain needs to unleash the spirit of entrepreneurship
We continue to put too many obstacles in the way of businesses that want to take risks and make things happen
on.ft.com
July 28, 2025 at 9:30 AM
Heroic entrepreneurship cult in practical terms has meant massive small business tax wedges. You're not gonna dominate the technological frontier if your polity can't build houses, warehouses and electrical substations because you have a broken state lacking legitimacy and money.
Reposted
I think this is liberal democracy's biggest challenge in our current era. How the hell is a liberal democracy suppose to function when a large part of the population can be made to vote for the worst people imaginable because of imaginary grievances created purely through language and memes?
Apparently 36% of Japanese voters believe that "immigrants are taking our jobs" bro what immigrants does Japan even have?? ATP a solid like 40% of voters *in every country* are just driven by completely imaginary grievances
July 22, 2025 at 2:48 PM
I think this is liberal democracy's biggest challenge in our current era. How the hell is a liberal democracy suppose to function when a large part of the population can be made to vote for the worst people imaginable because of imaginary grievances created purely through language and memes?