Buying insurance is, mathematically, a losing proposition. Why? Because, for the insurance provider to operate, it needs to charge you more than the mathematical odds of the event happening.
But there is more to the world than money. People pay a lot of money to feel a certain way - for example, all entertainment spending seeks a feeling. How bad do you feel when you imagine a terrible scenario, like your house burning down? How much better do you then feel, realizing your insurance would cover it?
At its best, insurance is a positive-sum game for all involved. But only when you realize you're paying for more than just the mathematical odds.
@ScottAdamsSays The colleges are known for overriding donor intent, often subtly but even blatantly. Donors often don't say anything because it's embarrassing to admit getting played.
4/4 It's easy to tell people to pull themselves up by their bootstraps. But such words ring hollow when the localized manufacture, marketing, and sale of context-appropriate bootstraps are illegal. Accredited investor rules form the structure of an invisible, legalized financial caste system in America.
3/4 The biggest reason, of several, is that securities markets have been a key focus of control since the 1932 Democratic Party platform. This resulted in @RobertKennedyJr's grandfather, Joe, leading the SEC from 1933. The 1982 SEC Reg D set a single income/wealth-based threshold across the country. Does it make sense to have the same accredited investor threshold in NYC as in WV? Of course not. These rules drive inequality and make it impossible for local communities to solve their own problems.
Brilliant and concise condemnation of higher ed system by @pmarca. Defund it completely at the Fed level. Eliminate the Dept of Education. Take away tax breaks for universities. Privatize student loans. NOW!
@MikeHuckman@nytimes@CNBC Someone is launching a crypto scam to make money — and/or to convince the public to crack down on crypto/free speech. New York Times sold the Iraq war, supporting neither of the above strategies is beneath them.
@charliemunger's Talk 2: "So life is an everlasting battle between these two forces: to get these advantages of scale on one side and a tendency to get a lot like the US Department of Agriculture on the other side, where they just sit around and so forth. I don't know exactly what they do. However, I do know that they do very little useful work."
A few paragraphs later: "Yet in other fields--like cereals, for example--almost all the big boys make out... why are cereals so profitable...? I don't fully understand it."
He was so close to solving both the Department of Agriculture's "work" and why cereals are so profitable! @VivekGRamaswamy please #ShutItDown.
“Resilience matters in success.
And greatness does not come from intelligence. Greatness comes from character, and character isn’t formed out of smart people: it's formed out of people who have suffered.”
— Jensen Huang
Sultan’s journey from coding curiosity to app development began with Tunapanda. We’re launching a crowdfunding campaign soon to support more young tech talents like him. Stay tuned!
#SupportGrowth#TechForGood#Crowdfunding
Legislation should be as concise as possible, limited to one subject, and publicly available well in advance of a vote in searchable electronic formats.