One of the oddities of America’s tax system is how much it comparatively penalizes those who make a high salary over those who earn by investment gains.
I’m sure some neoliberal could give a polished argument about about marginal tax brackets but we absolutely hose high W2 earners relative to capital.
Maybe Americans aren’t so sophisticated about what this means but it seems folks got the gist of it. Older generations owning the S&P and their home found that to be a better investment than just working for a living.
The message seems to be if you have a salary at least try to be a partner in the company yeah? Thats how bankers, lawyers, and other professionals did it.
This is a very boom boom when it works and gets very ugly when it doesn’t.
I find it odious that we tax high earning labor. It stifles social mobility by keeping wealth out of reach of the professional class. The government decides how their money is invested. That makes it much harder to take the long view. Clearly the generation above us didn’t always do so.
I’ve been trying to not explicitly discuss politics for a couple weeks as it’s hard to have any sense of consensus reality. I spend a lot of time on Twitter as well as reading news. It’s only served to further muddle my mind. I’ve regularly discuss the hostile information environment.
Given the chaotic scene it feels both foolish and necessary to send up signals to others. Venkatesh Rao has me considering cross publishing more of my general rambles to Substack. Especially as other channels become more hostile.
Rao leaves fantastic little notes like the below on whether Americans should prepare for a private equity owned rump state. A thought experiment which feels less far fetched than usual.
Just chagrined bewilderment and embarrassment and private-equity-owned rump state services shambolic-debacling along (ht Bruce Sterling for that turn of phrase). Whimpers over bangs.
As state capacity declines and social cohesion degrades it wouldn’t surprise me if the new institutional powers we trust most are corporations. Imagine Americans in twenty years as scarce but almost mythic progenitors of a corporate governance future.
Given the amount of illness that seems to be plaguing folks this winter I’m surprised we’ve not all decided to hide until Spring thaw.
Every event seems to be a super spreader. Our physical immune systems are shot and I doubt our emotional defenses are much better. Everyone is predicting informational dangers myself included.
It is hard out there and we all experience it in different ways. My medical improvement sprint is plagued with logistical issues, the mold situation in our basement is overwhelming, and yet I have hope that I’ll make it.
o many people are dedicated to building solutions to problems, big and small, that I can’t selfishly let my any of my problems stand in my way. We have to all pull forward together.
I spent a few hours with a portfolio founder working on their fundraise today and I felt my optimism. I enjoyed the flow of work even as the enormous task of raising capital is filled with risk.
I’d taken a risk on directional play earlier in the year. I believe in the founder. They are making their way through YC. I can see their path emerging with every step forward. And I see hope.
I am seeing some progress in my various home and health projects. I’ve been doing my best to remain optimistic even though I was not feeling well and the sheer amount of changes required was intimidating. But I’m seeing low progress.
An industrial hygienist is coming to do an arm test tomorrow on our basement as well as the rest of the house to confirm the extent of our mold problems. Our hope is that it’s contained to the bathroom in the basement.
If we have to do a bathroom remediation that presents an opportunity to do some renovations. While exciting that is also introducing more risk. But you can’t waste a crisis right?
I’d love to go on a long rant about the new tariffs America intends to impose, but a big winter storm is approaching and being prepared for that is likely the more important task.
Yes I am aware a much bigger looming economic storm on the horizon. I’ve been a “doomer” a while so I’ve come to gripes with that many years ago.
That would be true except we have a giant solar array that provides enough electricity for heating, lighting, our bitcoin mining (whose heat exhaust exchange warms our barn where we keep the hydroponic greens)
What I think is most useful to remember about media narratives is the Gell-Mann Amnesia effect. Coined by Michael Crichton of Jurassic Park fame it helps remind experts to not expect expertise from normal people.
Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray’s case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the “wet streets cause rain” stories. Paper’s full of them.
In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know.
Most of the commentary you will see on any given topic of media interest will be a fog of war mismash of competing narratives and ambitions.
Just remember that it’s wise to be wary of any certainty when it comes to what’s going on. What we know changes on what we know and it’s odd how easily we forget that.
I dislike having to set specific wake times up for early morning obligations. It always disturbs my sleep the night before as my mind convinces my body I must avoid missing the obligation. I’ll wake up 3-4x more than average to check the time and I’ve not oncd overslept.
As I’ve been doing an intensive course of HBOT (hyperbaric chamber oxygen therapy), I’ve been obligated to show up at a specific time and place each day. And it’s really messed with my sleep as my mind seems intent on reminding me to wake up early enough to be on time.
I’ve got a day off today and I’m happy to be spending it sleeping and browsing the news.
One of my favorite founder/authors Hannu Rajaniemi has a new book called Darkome. It’s not available in the American markets yet but he’s hosting a book party for the JPM Health Conference in San Francisco on Tuesday. I have a few invites. Again DM me for the hook up. It’s a fantastic thriller
I partook in the time honored tradition of going to a mall before Christmas. My family was inconsistent in its treatment of the holiday when I was growing up and consumerism was not a value we celebrated.
And yet now I think it’s a wonder America has exported the triumph of the American consumer at its most intense and made Christmas shopping a mentality globally. Consumer debt is a marvelous when it’s priced in American dollars.
Our holidays are now times for displaying status and taste in so much of the world. I think it’s reasonable to say we’ve been post scarcity since the mass commercial fertilizer and it’s all been status signaling since then. We all live materially better lives. Arguments for the impoverishment of our souls are still quite valid.
Yet here I am buying stuff before Christmas. Nothing makes me feel more like a piece of the capital markets like buying consumer electronics at Christmas.
The prices are better only because we’ve been trained into a consistent purchasing pattern. We can predict consumer sentiment and meet those demands partially as a function of training the consumer when to shop. The propaganda of the markets.
So I get to enjoy the overstimulating existential horror that is the wall of televisions ready to be Christmas gifts. The high fidelity color and intense noise is an assault on the senses. No wonder reality is a disappointment. I’ve never seen so crisp a picture. It’s all just a bit too much.
Being “spreadsheet brained” has become a shorthand critique for the technocratic mindset that prefers to see with abstractions rather than through immediate physical reality.
I’m more of a whole to parts thinker myself so I’m amused by this meme even though as someone who works with tech startups I’m obviously susceptible to spreadsheet brain issues.
It’s reasonable to have concerns with thinking only in abstract terms. The topology of human experience is complex and yet we have many tools that take the irreducible and cook it down into something concentrated, clear, and altogether too legible. We desire to be seen but perhaps not too closely.
The fog that surrounds violence leads to reactivity and it’s very easy to get things wrong. And the narratives surrounding this young man are both surprising and yet easily spun to cater to a number of simple biases.
One of those biases that I suspect will be warped across the news cycles is so easy to believe it’s making me suspicious.
The young man has easily accessible social media accounts some of which were still up when the news broke. I followed him on Twitter myself to see. What I found made me a little suspicious.
A centrist Penn shredded HuberBro Thiel tweeting TPOT moots futurism policy aesthetic gearporn guy adding maximum anarchy into the system as the UHC murderer does not feel right.
His GoodReads account shows a man who read a lot of health optimizations literature including quite a bit on back pain and psychedelics. His follows on Twitter were almost uncomfortably midwit thoughtfluencer types but hardly any outside the Overton window.
The Twitter profile of the suspect.
Frankly if I wanted to make make a narrative about disgruntled dangers of TechBro philosophy I’d be trying to steer this conversation into an Uncle Ted speed run to reinforce hostility towards these ideas. It’s easy to see the dark side of the agency discourse & “just do things” set of values if someone kills.
If I found medical system skepticism and Silicon Valley threatening to my interests I’d be latching onto this story as fast as I could to explain why it’s dangerous craziness and the world view should be pitchforked.
There are also very already easy narrative explanations for how an attractive man with an elite institution set of credentials could have snapped. The suspect is so normie in background and so bleak in worldview and he had back surgery and took shrooms. An iconic tweet from Landshark about ayahuasca seems prescient
