Categories
Politics

Day 907 and Unaccountable Bureaucrats

We’ve reached a point in America where the consular visa services (for tourism, business & academic visits) as well as the wider immigration services (for people intending to work here, become permanent residents or citizens) have made finding a clear legal path for any type of visa non-viable. The Cato Institute describes it as nearly impossible.

I haven’t been able to get so much as a tourist visa granted in 2 years despite guarantees that I’d be financially and legally liable for the actions of my people. Even when we agree on bringing people in via our refuge system has become an opaque unaccountable path.

Just today the Wall Street Journal reported that we are headed multiple crisis points in health care because there is no way to get into the country legally for nurses. We want nurses.

Our systems feels petty and vindictive to anyone that encounters it including American citizens like me. We treat people who aspire to American life’s like shit. And it appears as if the only paths that work are a system of bribes, fixers, scams, and favors as our immigration systems are opaque and deliberately obscured.

An unaccountable bureaucracy is breeding a system in which only the criminals are rewarded because the only way in is to go around the system.

We have two immigration systems that operate under the same “legal regime” but have totally different administrative regimes and authorities which further confuses the issue.

I can’t believe that I’m the one saying this loudly but a good start to a policy position is simple clear rules based immigration and visa policies that operate with consistently reviewed inputs and yield consistent outputs so both American businesses and its workforce is capable of planning for growth instead.

The doctrine of consular nonreviewability needs to be replaced with a standard of reviews that is clear, legible, and subject to open review so visa applicants and their stakeholders (families, employers, & lawyers) can understand and take action on consistently enforced norms.

Clear judicial review is the basis of any free market economy. This doctrine leaves our economy & families at the mercy of an unquestionable black box capable of life altering irreparable decisions which no one is obligated to explain or even disclose. And it’s not the fault of the consular officers. We are putting folks with little training into situations with unimaginable power (while being tied to confusing criteria which only leads them to cover their ass and reject more people. We can’t have a system of immigration where an unaccountable low level bureaucrat is able to reject an application based on vibes with no recourse.

– A visa for entrepreneurs. Currently we have imperfect workarounds that encourage people to go elsewhere (as it’s now clear the costs are enormous & the timeframes extend into multiple decades) meaning if you want to start a business, even one with funding, there is no clear reviewable path to getting the entrepreneur legal status to run the company in America.

The idea that our economy can’t handle more immigrants. tourists, business or academic travelers from non ESTA countries is simply not based in any reality. We have record low employment and shortages in crucial industries like healthcare which is fueling inflation.

Canada and Australia are letting in 2.5-3x the number of immigrants per capita per year as America. We could easily be smarter and more generous about how we recruit talent instead of encouraging a black market of border crossings for the desperate and ruined.

And we should absolutely be allowing in more visitors for the benefit of our tourism industry as well as our educational and business institutions.

I’ve had people denied entry for family reunions and conference keynotes. Startups now hosts all hands company meet ups in Mexico as they cannot guarantee that their employees can safely get in and out of America. That neither political party wants to address this in a meaningful way is appalling. We are pissing away our lead for partisanship and we can do better.

Categories
Finance Startups

Day 906 and Resilience Tech

I enjoyed a little moment in the sun yesterday when Axios’ Pro Rata featured my pre-seed venture fund chaotic.capital as part of a deep dive on resiliency technology investing. Or if you prefer disaster tech. It was a proud moment for me.

Because I’ve been trained to never miss an opportunity for reasserting who you are and what you stand for I thought I’d publish a portion of the market insights section of my investor letter for the fund. If you want to see the bets, the behind the scenes (hands on is an understatement), and the founders we back I’d welcome accredited investors to see if we’d make sense for you. Slide into my DMs or for the time conserving decisive HNI hop onto AngelList and apply to be an LP in 2 minutes flat.

What is Chaotic Capital?

In an era of institutional distrust, social change, and global instability, we invest in ideas that adapt humanity to our new chaotic era. What does that mean? We like things that help small groups have the impact of big groups and big groups have the agility of small groups. Enabling resilience in the face of unexpected & rapid change is our lodestar.

I publish an investor letter every quarter and you can always visit jfredrickson.com, where I write every single day about whatever I’m thinking about. You are also welcome to DM me on Twitter @AlmostMedia or text me on Signal. My email is julie at chaotic dot capital.

Market Insights on Q223

The rise of cryptography, machine learning, and artificial general intelligence are overlaid onto a geopolitical reality of resource competition in an increasingly multi-polar world. To use an entirely different metaphor, chaos is a ladder that we are here to climb.

Our thesis at chaotic.capital centered on identifying, investing in, and supporting companies that adapt our lives, businesses & systems to the opportunities and challenges that chaos brings. We call it resilience technology.

We believe these companies will generate outsized returns over the next decade as individuals, companies, and societies look to become more flexible, independent, and sustainable. But it’s bigger than that.  

Most builders remain deeply skeptical of Noble Lies, “for your own good” safetyism, regulatory capture, oligopoly control, and the centralized nation state control as the most effective methodology of innovation for a dynamic pluralistic human future. We are having cultural and financial reformations at a frightening speed. It’s beyond future shock now. 

Twitter critics can stroke their chin with practiced skepticism, but if you believe in American Dynamism as I do, you know that our history has shown that it is resilient, flexible, brilliant individuals coming together which defeats the totalitarian and slays the no-win scenario. You have to enable the brilliant weirdos and trust them to solve problems.

Like Captain Kirk once said to Spock, we must make the best guesses we can.

Spock: Mr. Scott cannot give me exact figures, Admiral, so… I will make a guess.

James T. Kirk: A guess? You, Spock? That’s extraordinary.

Spock: [to McCoy] I don’t think he understands.

Leonard McCoy: No, Spock. He means that he feels safer about your guesses than most other people’s facts.

Spock: Then you’re saying… it is a compliment?

Leonard McCoy: It is.

Spock: Ah. Then I will try to make the best guess I can.

Star Trek IV: The Voyage Home

My best guess? As your chosen doomer-optimist, crypto-libertarian. American-patriot, dynamic futurist, pre-seed emerging fund manager, who has plenty of facts but still has the responsibility of making decisions without full information? Tools for everyone wins the future.

It will take all of us coordinating in freedom to defeat Moloch from sacrificing more of us. Uncle Screwtape wants our egos to believe we can deliver safety and control, we know it is a lie. The Ring of Power tempts us to consider “why not me? Don’t I deserve this power?”

Choose your franchise my fellow nerds and chosen ones; because you know the crown is heavy, the ring perverts, and absolute power corrupts absolutely. So what do we do? We band together. And we enable more of us to join our merry band of future builders.

To balance out centralizing forces, institutional preservation and “we had no choice” moralizing malfeasance, we must give the people tools to build because sometimes our best guesses are demonstrably better than other people’s “facts”

Categories
Internet Culture Politics

Day 904 and War Dogging on Mobile

I was busy working for most of the day on an investor update for chaotic.capital. It’s really dope and I’d love to have any prospective LPs read it to see how we are navigating the moment. Chaotic is my humble pre-seed fund for weirdos building shit to survive the current planet wide disjunction. The general sense of history restarting from its fuck Fukuyama slumber is a clear and there is stuff to build.

When I do deep work I try to give myself some space between me and information feeds. But I find it hard to entirely shut for more than a few hours. I monitor many threads across many interest groups with vastly different interests. I flow it back to me and my investments.

As I sit comfortably in my Montana home on the edge of the American empire, I obviously can’t help but worry I’m a Cassandra doomed to know horrible truths. But this becoming a bit of a hobby for all of us isn’t it? We all watch nervously as history unfolds with little influence on the broader strokes.

My fear is that we’ve all become armchair war dogs cheering on whatever professional grade propaganda works for the current moment. And we must be careful not to let ourselves be controlled by that chaos nor amuse that we know what is happening.

I firmly believe in having a locus of control and acting within it. Today I wrote up the current state of all the vibes I’ve seen and synthesized in my market status report. I then named the bets I’ve taken with our capital. I explained why I think have the greatest chance at resilience in a world that is more and more chaotic by the hour. And then I showed the work on how I found the deals and made connections for my portfolio that was unique to me.

After I’d wrapped it up and got my operating partner Alex to be sure all the operational work was settled I opened up my feeds. It was Swan Lake time. The head of mercenary organization Wagner Group was maybe, or maybe not, declaring a coup against the Russian Defense Minister. Who knows what’s going on! Certainly not me.

Cue the rampant speculations. My Telegrams are going wild. Signal is on fire. I am scrolling through sick jokes and CIA theories and extremely funny memes. Everyone is rushing to exert influence and partisan narratives on top of what looks like a Tom Clancy novel. And even he’d agree this week was a bit on the nose with the submarines and the Soviet comebacks. So let’s all remember the world is complex and we know so very little so let’s keep taking responsibility for the moves we can make and helping others do the same.

Categories
Politics

Day 890 and Millennial Heads of State

America is being strangled by a gerontocracy as our Boomer and Silent Generation leaders resolutely refuse to get the fuck out of the way. I guess they can’t really enjoy life with their grandkids since so many of us failed to reproduce. Did mass social acceptance of divorce have consequences? Who can say! Meanwhile Saudi Arabia and North Korea are being run by millennials.

It was brought to my attention today that Crown Prince Mohammed bin Salman is 37 years old. And while I probably realized he was in his thirties I really don’t think I’d clocked that it meant anything till today.

Isn’t it astonishing that this geriatric millennial convinced his daddy (who is a fucking King I might add) to step aside and let him run the empire?

Meanwhile in America, Hunter and Don Jr are maiming themselves with cocaine and dating Gavin Newsom’s ex-wife respectively. MBS on the other hand killed a Washington Post journalist and got away with it. The only thing American failsons have managed to kill is some Yellowstone wolves. Succession not looking so glamorous now is it?

Not that you should kill journalists obviously (the fourth estate is important for social trust) but is killing your offspring’s future ethically more sound? I don’t think so. A suicidal youth reflects poorly on the nation. Especially when those “youth” are like in their forties and fifties. It’s fucking embarrassing.

And yet the American gerontocracy sure seems to be in favor of letting their youth slowly suicide themselves. I get it, their kids suck, and they don’t want to risk even an iota of their housing wealth. And they are still butthurt their Greatest Generation parents didn’t respect their failures in Vietnam. The Soviet Union collapsing was a win though so there is that!

Categories
Medical Preparedness Travel

Day 884 and Who Hurts First

I spend time in Europe for professional reasons. Some of my founders are unable to reach the United States as our visa program has become untenable. So I spend time in places founders can reach me. Trade crossed all borders.

Just in the last two, I’ve had Nigerian, Indian, Albanian, and Russian Jewish founders years find themselves unable to secure visas to visit America, not even for professional conferences or tourism. It is much worse with HB1 or O1 visas. You may not think this problem doesn’t affect you, or may even benefit you, but can I assure you one day it will affect you negatively. American industry was built by immigrants.

At first I thought I could simply work around America’s travel restrictions. Capitalism will overcome the inequalities our states have wrongly thrown up to divide us.

But I am learning that climate change and failures in sustainable energy policy is making it much harder to travel with a disability or chronic medical condition. Heat is a strain some bodies can’t take. And mine is one of those bodies. Migraine sufferers are too. So are the elderly. It’s quite common.

Last year I briefly did that American thing where we pretend we the Mediterranean lifestyle is aspirational by spending two weeks on the Ioan Sea. Utter disaster. I am not calling White Lotus a liar, but I couldn’t possibly imagine how hell could be worse than a heatwave in Sicily in July.

Watching the Germans treat air conditioning use like some sort of criminal shameful behavior was a vivid reminder that society always chooses who we hurt first. A policy that is for the common good may find uncommon hurt delivered to those we didn’t consider. It’s not deliberate but it may as well be.

If you paid attention during the pandemic you probably learned a lot about how we treat the sick and weak. Now imagine yourself as an one of them. It’s almost enough to make you consider becoming a reader of Rawls.

The end result for me is that I don’t believe I’ll be traveling to Europe except in the winters going forward. I can’t risk the lost days of productivity to something stupid like a default hotel setting for 72 degrees. I feel a bit robbed by this. Grief even that even late May is too risky to be on the road.

It’s a small thing to have your travel be restricted in a world of bigger sorrows, but the feeling of having your opportunities narrowed hurts. I’m sad because a utilitarian neoliberal wonk decided that most people would be perfectly comfortable with slightly warmer rooms. The finance teams at the hotels agreed. It’s not so bad. It doesn’t bother them. I wonder what other decisions won’t bother them. And whether they will hurt me unintentionally.

Categories
Culture Preparedness

Day 883 and Ride the Edge

If you aren’t comfortably with the current standards of living on average, I’d consider shoring up your resources now. As our planetary resource situation doesn’t appear to be getting better.

As more first world countries come to terms with slowing growth (perhaps even degrowth), resource scarcity is going to affect daily life in uncomfortable and visible ways we can’t smooth over with shrinkflation. If you aren’t prepared to live life on a harder setting, you should begin as soon as you are able to prepare for that reality.

I’d like to think about this problem with a bit of distance. What if we have a coercive state and social consensus for something you’d consider a personal preference or choice, but civil society views as as deviant? You will need to find ways to look like you are conforming even if in private, you are not. So how do you do so?

You may find it helpful to not stick out. In that situation there are two ways to survive an attack. Being protected and in the middle of the herd. Or be as far away from the herd as you can be.

Anyone on the edges of the herd of social consensus, but still within the second or third standard deviation from the norm may get hurt. Forced metaphor of the brutal blue curve but you get what I mean. Better to be a true outlier, as the secondary standard deviation will be forced by a brutal bell curve to fit in better.

If we add in artificial intelligence to the equation, we’ve got even more effective tools for monitoring and surveillance of out-group behavior and even easier mechanisms to deploy social shaming force at scale to insure social adherence. The panopticon is us. An army of Karens armed with the probability you will deviate waiting to pounce.

See for instance a social shaming quote tweet campaign. Now imagine it’s state sponsored propaganda but organized, through the seemingly spontaneous egregores of populism, add a dash of rule by authoritarianism and you’ve got yourself quite a problem. The wisdom of crowds can look like mania.

I got a small taste of being shamed yesterday by my neighbors in a Frankfurt Airbnb. Air conditioning use is frowned on in Germany now for both social reasons and also failing energy policy. Shutting down the nuclear power was a bad idea.

I’ve been suffering from an autoimmune issue, exacerbated by allergies and pollen, so I’ve used the air conditioning on 80 degree days. This was enough to get my neighbors to complain to me twice. I attempted to comply by going to a hotel but quickly found that no hotel would let me turn the thermostat below 72 degrees.

I decided to brave the noisy neighbors and run the air conditioning at the Airbnb in the end, but I didn’t appreciate having to lay our personal health problems to justify a private decision. Now extrapolate this out to genuinely serious situations. The disability issues are often an early lens into wider social attitudes on freedom, choice, value and worth.

You have to decide now if you want to hide in the middle of the herd. Can you pass? Are you able to fit in or do you have some deviance in your life? If you aren’t sure you can pull off average, you must ride the edges. Be as far outside the herd as you can. Maybe on the edge you can find a pack that will defend you.

Categories
Chronic Disease Travel

Day 882 and Disability & Energy Policy

I hate when I am made to feel it is embarrassed and ashamed that I have a disability. And German’s current energy policy has me feeling like my medical needs are something of which I should me ashamed. And that’s bullshit. It’s a policy failure.

I have ankylosing spondylitis (an inflammatory condition in my spine) along with a cluster of other autoimmune issues like allergies, migraines and dermatitis. If my symptoms flare I can’t walk and the treatments are unpleasant. Methotrexate, steroids, specialty biologics injections.

I live in chilly Montana as the cold is better for my condition than the heat. But when I travel I am confronted with heat, humidity and pollution which exacerbate my symptoms. Sometimes significantly. It has caused great anguish through its impact on family gatherings.

I find myself in Frankfurt for a mix of personal and professional reasons. The Airbnb I rented for the month was on of only a handful that offered aid conditioning at all. And one of only three that was a personal apartment and not a hotel service using Airbnb.

So I booked it even though I noticed it was on a main road in the neighborhood of Sachsenhausen. The host assured me it was quiet and most of the apartments looked out on a garden in the back.

Alas the bedroom was on the main road so I was unable to ventilate the apartment by keeping the bedroom windows open as the exhaust and debris from the roadway left my eyes red, itchy and I woke up with hives several times.

I bought a small fan at the local store and kept the bedroom door open and had the fan blow cooler air from the back windows overlooking the garden. I was still struggling with ventilation as the car exhaust and fumes meant the bedroom had to be sealed. Even then I paid $50 for a cleaner weekly to clean up the pollen, debris and dust that would get in from leaving open the window

I’d leave all the windows open on the good side, keep the apartment sealed and dark during the day, and have three weeks of extremely shitty sleep on my Whoop to prove it. But overall this worked well until it got hot enough to warrant air conditioning usage.

Sadly summer is rounding the corner and a few days in the low 80s (or 27-28 C for you Europeans) was too hot for my spine to tolerate comfortably. I was struggling enough with keeping the bedroom cool with the fan and back open window so I decided to run the air conditioner. It was old, noisy and hadn’t had its filters changed in a while. I made do.

The neighbors complained. Twice. Once through the Airbnb owner and the second time by knocking multiple times on my door. I had to explain to them embarrassing levels of medical detail to assure them this wasn’t preferred temperature or taste but a medical necessity. I hadn’t expected to show off my vials of injectables to be taken seriously but thanks guys.

This weekend it is expected to be in the mid eighties so I thought rather than fight off my neighbors and get another bad night of sleep with a dirty air conditioner and noisy roadway I’d check myself into a hotel. I’d been having a significant flare of all my symptoms which had required emergency doses of steroids, two unexpected infections (I take immunosuppressants) with two different antibiotics, and quite a bit of other remedies.

I woke up with strain and in a sweat. Antibiotics & steroids are fun

Well I guess the final boss of Europe’s poor energy policy was about to land it’s final blow on me. The hotel I checked into for some relief won’t turn its air conditioning below 72 or 22 C. It has to be much warmer to get it to my preferred temperature of 17 while I was experiencing this flared fever state. That apparently wasn’t an option.

So I guess I’m going to check one more hotel to see if they will allow me to cool my prior to my preferred temperature or I’ll prepare for another fight with my neighbors over running the air conditioning overnight again. Wish me luck. Build more nuclear power. Install solar arrays.

Categories
Culture

Day 877 and Punch The Nazi Nerd

I want to rant a little too much today, as it’s a holiday weekend and it’s all sunshine, apfelsaftschorle and pretzels but I need to rant a little bit. For a treat.

Anyone with too much focus on the esoterica of life; the nerds, the dorks, the dweebs and the outcasts, has some baggage. I never felt particularly uncool as a kid because I moved around enough that I didn’t have a lot of past embarrassments to hold me back. Odd when a childhood trauma ends up being protective.

But I’ve met plenty of genius in my time and a lot of them carry deep hurt from how they were treated as kids. The trauma isn’t always healed. And hurt people hurt people.

We used to expect an even trade from our nerds. You’ve got righteous technical skills and understand how those changing tools will affect the culture of the world. You see a future and hack at it because you’ve seen the rules of the game.

We need those rule breakers because they keep us honest. But we’ve got to keep them honest too. Life is a team effort and it takes all kinds of skills to pull off something great. The hacker nerd archetype is just one member of the team.

But if you are playing on easy mode, and the nerds have been on easy mode since we needed whiz kid scientists to fight the Nazis, then you don’t handle rejection too well. Everyone thinks they are owed something on the internet for being barely above a midwit. And they are probably right as we are living Idiocracy out there right now.

But you’ve got to have boundaries. Nowhere is that truer than with someone with a deep hurt. Probably why we have company politics, project managers and deeply angry startup mommies who spend their whole ass lives managing the feelings of man-babies who produced code. It ain’t great for moral.

I don’t know why nerds are such children. They say you stop growing at the age of your first trauma. Maybe. Or maybe if you had someone to clean up the hurt for you as a child you don’t know how to clean up your own messes as an adult. Mommy issues everywhere I enjoyed being a spoiled bitch more when I didn’t realize the enormous cost. Rationalize and reconcile what you can.

I don’t mind the hurt when nerds deliver us energy and weapons and the stars and whole new ways of self organizing. I’ve sided with nerds my whole life. Nerds are my ancestral people. Witches and rocket scientists and trailer trash chemists.

But if a nerd pretends the consequences of living with others doesn’t apply to them because they are so much more special, well you better be skeptical. Nerds can be bullied too. Sometimes you do in fact need to punch a bully. Punching Nazi nerds in particular is rarely a poor choice. The nerd bullies may need it the most. Remember it’s dweebs with delusions of grandeur who commit genocide and raise armies for fascists. Banality of evil and all that. Happy Memorial Day weekend everyone.

Categories
Community Politics

Day 871 and Collaboration in the Time of Cultural Cholera

Perhaps its a function of being an American abroad in Germany, but I’ve been giving a lot of thought to the social contract and the expectations we have for free association and collaboration.

Germany’s democratic socialism is abutting against the challenges of global market capitalism and cultural pluralism. And the strain is evident. Frankfurt is expensive and there are many competing populations from refugees to globo-homo cosmopolitans

I think only one in five people I’ve encountered appear to be native born German. It’s almost enough to make me feel like I’m in America. Which is to say I see the in-group and out-group competition clearly.

Different expectations for a civic polity can range wildly depending on the goal. We enable everything from humanity wide medical breakthroughs to individual physical health through incentives both individual and collective. And yes because I’m American I notice shit like who pays for parks and recreation. I also notice soda taxes. Choices are all around us and the incentives make it look like no choice at all.

Humans live at varying degrees of abstraction. Our capacity to go from whole to parts, and parts to whole, depends on education, temperament, intellect, emotional capacity and preferences.

And that diversity of views is what makes it so hard for us to infer what “chunk” of reality our fellow humans see. No wonder we struggle with collaboration as a species. Your fellow man is as sensitive to elite semiotics as they are to casual racism.

Where our new living history takes us is going to depend a lot on how we design incentives for collaboration that provides benefits to participants that are transparent. Otherwise I’d be strapping in for more civilizational struggles.

My aspirations include us finding ways to collaborate across much wider destinies with as much freedom for all can be managed. I’m hoping AI and crypto go hand in hand. High trust and no-trust are our only options at this scale. But like any reformation it threatens the current powers and worldviews.

Categories
Aesthetics Community Finance

Day 863 Abstract The Pain Away

When I was a small child I attended meditation retreats with my parents. Hippies amirite? The particular branch practiced was some variant of Kashmir Shivaism, but I’ve got to imagine it was heavily edited for the consumption of white Boomers.

Who else would take a vacation to sit in silence, chant the Bhagavata Gita at 5am and practice sevā, all while having six year old children? Silicon Valley’s syncretic culture produces some weird hybrids. Seventies counter culture gave us some of the best religious revivals in American history.

If you didn’t catch the word sevā earlier it’s actually going to be the anchor of the post. Sevā as it was explained to me as a child at the ashram is selfless service. It’s work you do without expectation of reward. It is a dedication to others.

Practically it meant that anytime we lived at the ashram everyone contributed some set of work, mostly unskilled labor but not always, in the form of sevā. I did everything from food preparation and dish washing (working a commercial kitchen dishwasher is actually fun) to caring for some donated horses. I had fun summers as a child.

But the point was that everyone participated in some way to the functions of the ashram no matter who you were. And we did have some weird celebrities but that’s not the point. Sevā applied to us all. Though I’m sure glad I never looked too hard at the politics of finances of these ashtrays. Childhood innocence. As a child I just thought it was fun to contribute to the adult world.

But what I remember now is a sense of connection. That no aspect of these retreats was ever abstracted to far from me. The service was meant to bond you to an experience of a world bigger than yourself. And by recognizing that, you’d somehow connect more with others.

I try to remember that now when I am in lonely cities where every aspect of living with others is transaction. A food delivery service whisks you a meal in an hour in a country where you are an outsider without ties, bonds or service beyond the basic civilizational contract of capital markets.

The global cosmopolitan gloss of mobile applications have abstracted service away to the point where we can have an entire day of discourse about a man being sad a house cleaner washed a cast iron skillet but we can’t admit that we all pay for service as it cracks the facade.

We’ve got no sevā because that’s an expectation too great to hear. We can barely manage to pay a fee for service anymore. Imagine if we had to operate without intangibles. We can barely make Uber Eats function with taxes, tips, and services fees. Bless the markets for this freedom and curse it in the same breath.

Fuck the pain away? No, we abstract the pain away. No need to see who contributes anything. You can complain to a faceless chatbot cum customer service artificial intelligence about how some man on a bicycle didn’t deliver your order on time. The service lives below the machine now and has patience for frailty.

And yes I’m writing this because my Korean fried chicken and kimchi order got lost in a side street in Frankfurt for an hour or two.

Don’t worry the corporate entities that intermediated between me, the restaurant and the courier decided in my favor. The customer is always right as long as they have paid the fees to pretend that are lords.

All pain in the above transaction was abstracted away into some governance structure that decided it was worth 25 euro or so. One presumes some public market agreed on the price. I guess I did too. We all did.