Blockchain tech and decentralization have ushered in a new financial revolution. We must now rethink our views on economics to adopt to this new world! WELCOME!
Co-operatives are rarely brought into the conversation of economic systems, but they have been in existence for centuries. Instead of companies owning the goods/production, ownership and governance is instead given to the user.
For crypto enthusiast, this should sound familiar..
BREAKING: The IRS is effectively unable to audit private equity, venture capital, and real estate investment firms, with audits of these giant enterprises have dropped 80 or 90%, per MorePerfectUnion.
Most of the wealthy and the super-rich did not make their money via stocks, nor do they hold a lot of stocks (even when they are rich).
The people who are obsessed with stock picking or macro investing are most likely not going to get rich from it.
You're playing the wrong game if you're after the big bucks.
So if stock picking (Buffett style), or running a macro hedge fund (Druckenmiller style), is not the way to go, what is the proven strategy?
This is not my opinion, but the data itself.
Overwhelming evidence (not only from this chart) shows that you need to solve a problem for society by starting your own business.
Most of the wealth, and I mean real wealth above — say $10 million and decently early on (not when you're 78 😂) — is made via entrepreneurship.
If you are worried that sw development might be over because of AI, here's some perspective.
@bcantrill worked at Sun, Joyent (an AWS competitor), and is now the CTO at Oxide. Amazing career.
When he started, in 1992, conventional wisdom was that software in the US is over:
"'AI' is not your friend. Nor is it an intelligent tutor, an empathetic ear, or a helpful assistant. It can not 'make up' facts, and it does not make 'mistakes'. It does not actually answer your questions. Such anthropomorphizing language, however, permeates the public discussion of so-called artificial intelligence technologies. The problem with anthropomorphic descriptions is that they risk masking important limitations of probabilistic automation systems, which make them fundamentally different from human cognition."
Important essay by @emilymbender and @NannaInie. Link below.
IShowSpeed was shocked to learn he can’t buy pure diamonds in Botswana because the country is locked into contracts. Even though it produces the most diamonds in the world, Botswana has one of the poorest local diamond markets 😳
Most single-family rentals are owned/held by small landlords.
Institutional investors have accounted for about 1 out of every 100 homes purchased in the last couple years.
JP Morgan is replacing proxy advisory firms with an in-house Al platform named 'Proxy IQ' - which will analyze data from annual company meetings and provide recommendations to portfolio managers. They are the first large firm to stop using external proxy advisers entirely.
$98 billion in planned AI data center development was derailed in a single quarter last year by community organizing and pushback, according to Data Center Watch, more than all disruptions tracked since 2023.
BREAKING: The Trump administration plans to put money raised from seizure of Venezuelan oil into bank accounts *outside* the U.S. Treasury -- they told lawmakers today per multiple sources familiar.
Sources said they understood these as similar or decidedly "off-shore" accounts.
Asking the WH for clarification.
The AI generated OnlyFans workers are now scheduled to make more than thier human workers by 2026, displacing them by share numbers of 1000 to 1.
This is one of the less sophisticated ones. The better ones NO ONE CAN TELL.
The “industry”!is over.
@nyxia_ai @KilianNicolai @kimmonismus Why produce more of the same thing? Why not create ground breaking music? Why must we continue to live in the 2010s? Where's the music that sounds DIFFERENT? Why does your heart crave more re-hash?
@nyxia_ai @KilianNicolai @kimmonismus How is this "unexpected twists"? When I think unexpected twist, first song that comes to mind is Bohemian Rhasody.
This "song" is just another Billie Ellish knock off
@salahtech_@JohnNosta One way to alleviate this is to tackle issues that seem too hard to fix. Solutions to crime? Solutions to poverty? Harder solutions call for creative cognition