Tag: Extremely Online

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Finance Politics

Day 141 and Double Indignity

I’ve always been interested macroeconomics. Even as a child I got very excited about trading and markets eating up movies & books with political themes. Precocious snot that I was I quoted the Economist in my high school year book. So was primed to be interested in Bitcoin from the start. I even had a physical copy of the ur-conspiracy theory of monetary policy “Creature from Jekyll Island” in college. Yes it’s embarrassing. Point being if you are a fiat freak you probably have some opinions about the Fed, a few of which sound utterly wild.

I’d been exposed to questions about money and what drives people to build and create. I was skeptical that we could continue printing currency because I was introduced to economics through the basics. I also had an intuition that this system was making bigger winners of the already advantaged and short term interests, while taking away from long term interests who need their time & money maintain its value on the horizon. Basically I think inflammation sucks for the young. And if you are young and poor it’s a double indignity.

This is why I find Bitcoin so appealing philosophically. The idea that those already in power can inflate their interests over those who come after them offends me. Dynastic societies become ossified. I found Steven Ross’s Stone Ridge investor letter to be a particularly compelling argument for why Bitcoin is a moral good for equity.

Money is, and has always been, technology. Specifically, money is technology for making our wealth today available for consumption tomorrow. Modern Americans with a ‘What’s water?’ mindset about money – virtually all of us – assume there is a sharp line of distinction between what is money and what is not. That’s false. Instead, throughout history, various monies (note: plural) have always existed1 – simultaneously – along a continuum of soundness, subject to competitive monetary network effects. Sound money – along with language – were the first, and have forever been the most important, human networks responsible for human flourishing. Imagine life without them.

I think Americans especially the monied elite interests are simply becoming too entrenched to the detriment of freedom here but most critically around the works. We have no incentive to let the rest of the world compete so we are rigging the game in our favor. I don’t like it morally even if it benefits me personally (though arguably not as much as it does Boomers and the old). I’d rather Earth compete as one as this drives our progress. Anything less is serving a double indignity to the least privileged among us.

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Internet Culture

Day 139 and Saving The Insights

One of the unexpected aspects of having audience, even a small one, is wanting your good shit to be saved for them. I regularly find myself saying shit to my friends or my husband only to stop myself and say “that needs to go on Twitter!” And then occasionally to their chagrin I will open the app and attempt to condense the insight or joke into 140 characters. If it’s a longer point I’ll open up WordPress and attempt to get the thesis on paper.

A significant upside to saving good shit for an audience is that you have a written record. There is no worse feeling than completely losing an insight because you didn’t write it down. I dislike phone calls or Zooms because I’m not a natural born note taker. If I’m just shooting the shit I’m prone to forgetting whatever I just said. I can spend an hour feeling like I’ve really dug into a point only to find myself with complete amnesia because I neither shared it nor did I get a note down. By stopping myself and recording it to social media I find I retain more of the good stuff. I guess I’ve accidentally created a workflow where my note taking system is posting it to Twitter. Sorry Evernote turns out the killer feature for note taking was actually having reply guys.

This system of trusting an audience to have immediate access to your good shit does takes some getting used to. I’ve written about my fondness for shitposting as an inherently healthy emotional act. Sharing who you are without any filtering is scary. But it’s a muscle that can be developed. When I am working with portfolio companies or my communications clients I encourage them to just start getting content out on whatever platform is easiest for them. I picked Twitter as I’m most comfortable with written formats but I obviously also find blogging on WordPress to be easy. Instagram or more visual platforms make me anxious. Formal platforms like LinkedIn make me second guess every word. For me immediate unpolished platforms where I can just say shit is the way.

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Finance Internet Culture

Day 136 and The Ease of Centralization

We are a few days into a news cycle where Elon Musk’s corporate socialism interests and/or environmentalism has pushed the Bitcoin discourse to a fever pitch. I don’t begrudge Elon because it’s hard out there for someone who takes government subsidies and we’ve all got to lean into our economic interests. The renewable energy credit system is a policy choice and my neoliberal friends would argue it’s a good one. It’s also one that currently pay’s Tesla’s bills.

Tesla makes most of its $ from RECs, not cars. Last year, it made $1.58bn from sales of RECs to gas-powered auto companies (which must buy to offset their CO2 emissions). Tesla has never been profitable without REC sales to bolster its auto margins.

That’s about to change. Last week, @Stellantis (i.e. PSA Group + Fiat Chrysler) told @LePoint it’ll meet carbon emission rules this year. That means it won’t need to buy RECs from $TSLA anymore.
Fiat Chrysler accounts for $2.4bn of Tesla REC sales from 2019 to date and 55% of Tesla sales since 2008.

What I think is really interesting is that Elon DOES know a lot about money, in particular the benefits of a centralized trusted player. Which he himself points out since you know PayPal. Centralization has been pretty crucial to fast efficient financialization especially in modernity. Of course that has some downsides as institutional power tends to accrete. Good and bad amirite?

The exciting thing about cryptocurrencies is that they may offer us they same scale as global institutions but without the whole plutocrats and fossilized bureaucracy part. Not that I’m advocating for Ethereum or Consyns.us but they put it well in the below quote.

Whereas our traditional financial system runs on centralized infrastructure that is managed by central authorities, institutions, and intermediaries, decentralized finance is powered by code that is running on a decentralized infrastructure

We’ve got a couple decades of experience in computing on the challenges of decentralized infrastructure. It’s not easy and it has costs. The costs are both significant in time and money but the benefits are significant as well. I personally find the argument that systems which are not centralized are less fragile and it is worth diversification into systems that are less fragile. I often chose convenience and speed but I also put significant effort into having systems that can withstand crisis and disasters as well. Security has always been about trade offs. And cryptocurrencies, especially Bitcoin, is about making some trade offs in efficiency for the sake of hardening of financial system. I’m philosophically inclined towards this. If I’m trying to solve global warming and getting to Mars I might find this less compelling as I’d rather focus on efficiency. This is also why environmentalists make great villains as they decide on that choice for you. I’m not saying Elon explicitly going for Bond villain but it’s an aesthetic.

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Aesthetics Emotional Work Internet Culture Politics

Day 134 and A Short Guide to Being An Edgelord

As my friend Seyi wisely said; sometimes your life gets chosen for you and sometimes you choose your own life. So try to chose your own life as often and as soon possible before someone else does. This challenge seems especially relevant as the culture wars rage on and regular peons like you and I can become collateral damage.

I’ve known for a while that I wasn’t going to be a fit for institutional settings like big tech corporations or civil service. I struggle to to be anything but myself. I mouth off too much. I’m not very good at kissing the ring. It’s not that I can’t engage in behaviors or manners you’d expect, I merely find it tiring. I’m also saddled with some physical limits. I’ve got the kind of medical conditions that gets a lot of virtue signaling from corporate communications types but isn’t really all that appealing except as a token. So unless I wanted to be miserable in middle management I knew I needed to opt out of the game. And that meant winning on my own terms.

Here is a harsh truth that the panic mongers in the cancel culture debate don’t want to say out loud. You cannot expect to survive a system and certainly not a culture war unless you take sides. Humans are riddled with bias and institutional self preservation is strong. The only side you should take is your own.

But you must accept that choosing your own life has consequences. Living out loud as the full uncensored you may cut off certain opportunities just as it opens new ones. Be aware of this reality and do not complain that you are a victim of circumstances when you have more choice than you realize. I’m not suggesting all areas are open to everyone nor that we shouldn’t fight for legal rights and protections. Merely that we are limited as individuals by the cultures and institutions of our time. Social mores move slowly even when pressed by revolutionaries.

My best advice? If want to be an edgelord. Be a real one. Go full crypto. Middle finger to the law. Fuck the police. Start a newsletter with monetization. Find your tribe. Learn some practical homestead skills.

You want to play corporate ladder? Play by those rules. There are dress codes and “ways things are done” and hierarchical structures you must obey. Get their credentials and be excellent at the values the organization wants.

You cannot straddle both worlds. This didn’t used to be a controversial statement. It wasn’t an affront that you had to put on a suit and say “yes sir” until pretty recently. Sometimes you just have to play the game. Go read the 48 laws of power and get back to me.

Trying to express who you are publicly if it’s not within bounds of the institutional norms might get you fired. Or maybe you take a stand that gets you promoted if you judge what norms can be pushed. Depends on the institution. So know that if you set onto the path of “choosing your own life” the consequences might be a lack of access and options. Or it might open you up to an entirely new world where you work and live with people who like you. But straddling the middle is recipe for emotional misery.

If I were you I’d begin to do the work to walk the path of the life you want now. Before someone else chooses for you.

Categories
Aesthetics Chronicle

Day 132 and Chaos Energy

Humans crave novelty but require stability. I guess this was probably fine when the worst we could do was gossip and club each other on the head. But giving humanity mass scale has been a mixed bag. Our constant dopamine seeking behaviors are piling up negative externalities as any individual can throw chaos energy out into the world with a single Tweet and fuck up the lives of millions. And I don’t even mean the former guy. Anyone can create chaos now.

Just today we’ve got a governor bribing citizens in Ohio to get vaccines with a million dollar lottery, Elon Musk once again choosing violence sending Bitcoin reeling, brain lasers zapping CIA officers more than we thought, and a gas shortage on the East Coast because infrastructure can can be ransomed (though at least that claims to have been fixed before market close). This is forgetting that the Republicans have decided to chose lies and I’m sure a thousand other chaotic things. And is just what is happening in America. I’m not able to even look at what’s happening in Israel.

The chaos energy was strong in 2020 and I think many folks tried to engage in stability seeking as the pandemic unraveled our routines. But our desire for novelty keeps cropping up weird shit and frankly I think you should be making preparations for a lot more future shock. Not because I don’t love chaos but because systemic shocks from all of this means stability is never coming back.

So we’d better get used to chaos. You need to find ways to live and thrive in this future. Because every one of the institutions we thought were reliable are just sliding into our DMs and showing us how the sausage is made. Insert dick pic joke sure but also distrust is fueling the chaos. We are ramping up the amplitude with every cycle.

I personally am living my life with an eye to less reliance on fragile complex systems. This isn’t to say I am against modernity. I’m actually more of a techno-utopian type. But Expanse fans will recognize the churn comes for all of us. I think it’s wise to become more invested in your local community and support what sustainable efforts you can. It’s wise to de-risk yourself from political and currency risks. And hell make sure you’ve got extra water. Because it is chaos energy out there

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Aesthetics Finance Internet Culture

Day 128 and Financial Aesthetics

Humans have imbued money with so much significance over the centuries that financial spaces (merchants, traders, banks, trading floors, brokers, hedge funds) show us the style of their times better than almost anywhere else. Even when power centers have shunned money directly (democracies), and sometimes even because of it, money has dictated the soft powers of perception and relevance.

This makes investigating the styles of finance particularly fun as their signifiers tend to hum with unsaid anger, greed and resentment. Sexy stuff generally as we fixate on ever finer granular details to indicate that our taste shows us to be worthy of holding power (and hopefully money).

There is a reason popular culture loves the Hollywood treatment of Wall Street. Even if some of the most iconic touchstones like American Psycho were meant as dark comedies we didn’t perceive them at way. We were supposed to laugh at the business card scene not get turned on. When Gordon Gecko bellowed “Greed is Good” we were supposed to know he was the villain. We didn’t. We don’t particularly like watching these heros get their comeuppance. Giovanni Ribisi in Boiler Room ratting out the pump and dump scheme doesn’t leave a very satisfied audience but oh how we loved the second act when the gambling prodigy finds a way to go “legitimate” and become a millionaire. Just ignore the crash at the end.

Americans in particular love to fetishize our villains. Our media is littered with anti-heroes that over time become our actual heroes. We throw jealous narratives at the preppy alpha males but love it when their power is subsumed by someone who plays their games better than them. We are riveted when a protagonist emerges that knows how to best the alphas at their own game and emerges victorious. Just be careful you don’t overplay your hand and remain a villain (sorry Martin Shkreli you deserved better) as we need you to be seen as the good guy. It’s a delicate tension.

Think poor savant Bobby Axelrod in Billions becoming the titan of industry. Sure you know he didn’t start out as a classic alpha male (that hard knock upbringing) but I doubt you could tell at the end as he styles himself in the cashmere of his former enemies. Sure now it’s a hoodie but that’s a small inversion of the original sweater. The WSJ has an extensive shoppable feature on the style of the show. Now that’s cultural relevance. Turns out we do want cosplay Carl Icahn or Bill Ackman.

I’m particularly excited about the aesthetics of the next phase of financial heroes emerging from the financialization of cryptocurrency. Scrappy upstarts that want to make a more just and free financial system free of cronyism and accessible to the entire world is a beautiful narrative arc. The chaos of outsiders making the system their own has an ending we all know. You might start out in a tee-shirt and hoodie like Axe but beware the creeping encroachment of luxury goods looking to ride on your newfound wealth.

Turning doge gains into jokey NFT art is just a hop skip and a jump away from getting subsumed into the Art Basel scene. Lest you one day turn up and wake up in a new Bugatti. And while right now it may seem funny to buy a Lamborghini remember the narrative the world wants. You may just claim the mantle of a new kind of power. Or the Feds will come for you. Have fun out there!

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Aesthetics Internet Culture

Day 127 and Horizontal Thinking

In the beginning there was the word? I dunno, seems more likely it was the image and then the Levantine religions got around to giving God the word. And thank God too as internet culture couldn’t exist without binary stuff.

But lately it seems like we’ve decided to go all in on horizontal thinking. Now it’s all about images. Gifs, YouTube videos, twitch streams and TikToks giving us cultural understanding not though the written word, but vibes.

The weaving together of aural, visual and emotional planes is an aesthetic that I’m thrilled to see Gen Z adopting en masse. If vibes had a gender, it wouldn’t. But seriously, backing away from the linear is a lot of fun and all of this vibes zeitgeist has been throwing my thinking back to a 1998 pop-science book called “The Alphabet and The Goddess.”

The Alphabet and the Goddess by Leonard Schlain is about humanity’s progression from horizontal to linear thinking. Shlain, a neurosurgeon, argues that that learning written languages, especially alphabetic languages, altered human brain function from holistic thinking to linear thinking. In other words, humanity wasn’t always so limited in processing. That’s a kinda new development.

I can’t say I have any real expertise in different theory’s of the mind like lateralization, but it does seem as if we seek to reduce complex matters such as ethics to simple rules and numerical measures in human systems, this despite us having significant holistic and metaphorical capacity.

If you coded “holistic, simultaneous, synthetic” views as feminine and the masculine as a “linear, sequential, reductionist”, you’re not alone according to Schlain. The scanning of the written word and visual processing of images may be different processes for the mind and for some weird ass reason we gendered them. Even though it’s just a straight up difference in brain processing. Schlain says:

Images approximate reality. The brain simultaneously perceives all parts of the whole integrating the parts synthetically into a gestalt. The majority of images are perceived in an all-at-once manner. Reading words is a different process. When the eye scans distinctive individual letters arranged in a certain linear sequence, a word with meaning emerges.

Basically humanity has been livin’ la vida linear for a few centuries, even though we have been plenty holistic as a species. But maybe with the internet our horizontal image driven thinking is coming back? Which brings me back to vibes. Vibes getting the New Yorker treatment this week.

I learned that vibes have a strong tie to the critical theory crowd. I suspect this pisses off a number of more literalist thinkers that are dedicated to trad aesthetics… I mean, ummm, Burkean economics? Whatever. Maybe the trads and red pillers sense the critical theory backstory?

Gernot Böhme identified “atmosphere” as the basis for a new aesthetics of perception, a kind of over-all feeling that has much in common with vibe. Heidegger had used “mood” to describe the quality of being in the world, and Walter Benjamin had identified “aura” as the feeling inspired by the presence of a unique work of art.

I think I’ve finally found the through line of why the “woke, critical theory, Gen Z, gender fluid crowd” and their vibes upset the “Athens to Jerusalem Western Civilization” crowd. Going from “great works” to “vibes” is going from linear to horizontal. It’s big dick energy being trounced by hot girl summer. The patriarchy is falling to glitter queers. And there is nothing anyone can do about it. And personally I like these vibes.

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Chronicle Internet Culture

Day 123 and Being Liked

I asked if folks cared if other people liked them today on Twitter. The results are surprisingly mixed on the issue.

A Twitter poll asking if folks care if others like them with 4 options: yes, no, yes but I like about it and no but I lie about it.

The four options were Yes, No, Yes But I Lie About It and No But I Lie About It. It is fascinating to see the breakdown in responses even a few hours into the poll. I don’t know what I thought the response would be but I don’t think it was an even split.

Now, of course, I didn’t ask if being likeable is good, or bad, or even helpful. I just asked if people cared. It’s likely people who do care don’t think it’s good that they care. And there are people who don’t care that maybe which wish did as caring about being liked may have benefits. I don’t actually believe that a third of folks don’t care as frankly society would look pretty different if 35% of us just didn’t care about perception. And sure you can argue that you don’t care but you hide the fact, but then your answer would have been the least popular option “no and I lie about it” which is lagging in the results. My guess is that a number of folks are aspirational “no” votes which I can respect. I’m confident I would have voted no in my twenties. I used to be an aspirational no vote

Currently my vote would be “Yes But I Lie About It” but I’m not sure if I’m lying to myself or others with that answer. I don’t generally care what people think of me but I think I lie to myself about needing to care. I think being liked is important and I want to act like I care more. I’ve got some hang ups about not having been a more palatable person when I was younger. Maybe if I had been nicer or better behaved or well…just more likable I’d be richer, more loved, have a better relationship with my family and other fantasies. I’m also not convinced that changing myself for others has the benefits I think. That’s just some 4 year old inner child trauma emotions. How others feel about me has little to do with me and a lot to do with them. That’s true for how I feel about others. My reaction to you says a lot about my emotions, trauma and hang ups than it does about if you are likable.

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Finance Internet Culture Startups

Day 119 and Status Narratives

I’ve mostly worked inside insular industries. There is something about disdaining a club and then slowly forcing it to adapt to me that I find appealing. My handle on Twitter “AlmostMedia” wasn’t actually meant to be a joke about the ephemeral nature of timeline driven content (though it is now) but was an inside joke about my first personal blog.

I wasn’t as comfortable being an outsider when I was younger so a common theme on my blog was about how I “almost” achieved insider totems and status but never quite did it right. I never felt like I was stylish enough, cool enough, rich enough or had enough status symbols. Now I kinda laugh at myself as I realize semiotics is as driven by the out group as the in group. I always had the power to be enough.

But thanks to this insecurity about being “almost” but not quite right I’ve achieved a pretty valuable skill set. I’m able to see what is coming, what will resonate, and most importantly what will have status. I’m not always great at the timing (I’m often too early) but I am very good at nudging narratives into the popular conception. I call this the Thursday Styles problem. Timing what is next is as much about knowing what is coming as when it will hit and doing what you can to control the pace.

I particularly like fashion and startups as as success is often a Thursday Style problem. Status narratives are driven by people who like to show off that they knew something cool was coming. Think of the trope of venture capitalists publishing a post about when they first met a founder timed with a company’s IPO. Music used to be like this too with snobs insisting “I knew them before they were cool” when a band blew up.

Status narratives often revolve around being first. Much of crypto is obsessed with showing off how early they were while also insisting to everyone that “it’s never too late” as they need to drive a status narrative that brings in more adoption. Being early generally only matters if you are also still around when it’s “late” and you always need more people to push you further into early. Even if most of the benefits are seen by late adoption we all want to feel like we won the status game of being early. But it’s important to remember we are all a little too early or too late. We are almost right. Which is enough for plenty of success.

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Chronic Disease Chronicle Internet Culture

Day 118 and Games

I wasn’t a gamer as a kid but as an adult I’ve come to love gaming. The joy of accomplishments, the camaraderie of guild members, and the fantasy of the worlds are powerful magic. I’ve met dear friends that I love every much as anyone IRL.

Gaming has significant social benefits apparently. Which anyone who spends a lot of time in Discords and guild chats can vouch for. My gaming friends are some of my closest friends. I know more about their lives than I sometimes do about coworkers or casual acquaintances.

In findings published in 2017, the team found that MMO engagement correlated to a stronger sense of social identity, or how people self-identify based on their affiliation to groups. That social identity then corresponded with higher self-esteem and more social competence and lower levels of loneliness, the researchers found.

But it doesn’t have to be immersive or social to be worth my time. I like ditzy mobile games too. Silly games that don’t take up too much cognitive overhead can be the most relaxing. It’s fun to move around cartoon bubbles or dress up a Kardashian. And sure enough that has benefits too. Improved problem solving skills, improved cognition and and eases pain. Guess that might be why I like it.

“It’s common to try to distract ourselves from pain by paying attention to something else or focusing on other body mechanisms, but that’s not the only reason why games are a good post-injury prescription. Playing can actually produce an analgesic (pain-killing) response in our higher cortical systems. The more immersive, the better—which is why pending virtual reality systems may one day be as prevalent in hospitals as hand sanitizer.” Mental Floss

The truth is even with all the benefits I think play is important. Time to do nothing but engage in childlike enjoyment makes life better. I just want to do something fun and relaxing and and not worry about anything while I do it.