nobody will remember:
- your salary
- how many hours you worked
- if you got promoted
people will remember:
- that brilliant move you played
- if you hit 1000 in rapid
- whether you hit "rematch" or not
The folk who think you're an idiot for taking the 50k and it's because you can't do an EV calc are stupid and wrong, but by far the worst people in the conversation are guys going "I'd sell it to a hedge fund for £450k" which is a different, more annoying kind of stupid and wrong
@joshwoodward@GeminiApp For the last two days all my deepthink queries have been stuck thinking forever. Also when I have a thread, ask a new question, scroll up to read the previous answer, after a few seconds it scrolls me without my input back to the bottom.
Warren Buffet is like the ideal of a rich guy for communists because he's barely sentient. He's like a bee dutifully making honey by instinct, and if he finds one day the beekeeper came and scraped his honeycomb clean he'll just keep on making more. A natural slave.
@philngo_ Other way around. We builders hide. You will notice that all the success stories happen in industries that are not yet regulated. This is no accident.
You should placebo yourself into thinking you’re on steroids.
Athletes given a placebo they thought was Dianabol added ~8.5 kg to their bench, ~7 kg to their military press, and ~16 kg to their squat in 4 weeks compared to when they didn't think they were getting Dianabol.
DOI:10.1249/00005768-197200420-00015
I had a high school science teacher with an unusual policy
The day before any major test, he would do a pre-test
The pre-test was *exactly the same* as the real test, which would be the next day
This was long before camera phones, and the only rule was that you could not copy the test
Students had zero excuses for not knowing what would be on the test and *exactly* what to study
According to him, he had years of data to compare performance between normal testing and his fully-exposed pre-test
And the score distributions were effectively identical
You either cared and you were ready, or you didn’t and you never would be
I did well enough in the class, and while I can’t remember chemistry to save my life, I still think about that policy
If someone had told me in 1990 that I would be sending a post on a microblogging site (not a thing), about writing natural language instructions to an AI agent to create symbolic mathematics, rewrite a paper, then write the code in a readable language (python, not released) to simulate the algorithm in the paper, while on a plane with fast wi-fi (not existing), on a 3lb fast mac with a hi-res color screen (the first powerbook with a color screen came in 1993, 640x400, 7lbs) and 10+ hours of battery life, I would not have believed them. All of these things ranged from the "does not exist yet" to the "are you completely bonkers".
35 years.
Everything is amazing and nobody is happy.
The Hollow Men
American capitalism is rotting from the head down. We have replaced the "Owner-Operator"—the risk-taker-with a new, parasitic class of corporate bureaucrat: The Risk-Free Insider.
By "Insider," I am not referring to a specific title. I am referring to the entire administrative state that has captured the modern corporation. This includes the Directors who exist solely to collect fees, the Executives who exist solely to collect bonuses, and the Managers who exist solely to hire consultants.
These are the hollow men of the boardroom. They are masters of PowerPoint. They wear the right suits. They say the right buzzwords about "governance" and "ESG." But they are mercenaries fighting a war with someone else’s ammunition.
In a functioning economy, authority is tied to liability. If you make a bad decision, you lose your own money. That fear of loss is the only thing that keeps a business honest. It forces you to cut waste, obsess over the customer, and stay late to fix what is broken.
Today, we have severed that link.
We have rigged the game so that heads, the Insider wins; tails, the shareholder loses.
If the stock goes up, the Insider collects a massive performance bonus. If the stock crashes due to their own incompetence, they are fired with a "Golden Parachute" worth tens of millions. They are gambling with the house’s money, and they never leave the table poorer than they arrived.
This looting starts in the boardroom.
We have normalized a "Country Club" culture where directors are selected based on social profiling rather than their ability to build a business. The modern board member is often a professional tourist—paid an average of $350,000 a year.
Let’s be brutally honest about what that number represents. The average director is paid nearly five times the GDP per capita of the United States. They earn more for attending four quarterly lunches than the vast majority of Americans earn in five years of hard labor.
And for what?
Most of these directors are "over-boarded," sitting on three or four boards simultaneously. They treat directorships as a gig economy for the elite. They fly in, rubber-stamp a compensation package they didn't read, and fly out. They collect checks from companies they do not understand, do not use, and certainly do not love.
They are not there to ask hard questions. They are there to be collegial. They are there to protect the other Insiders.
And what happens when these boards hire executives who also have no personal capital at risk?
We get the Delegation Economy.
When a Risk-Free Insider faces a crisis—bloated expenses, a broken supply chain, or a stale product—they do not roll up their sleeves. They hire a consultant. They pay a strategy firm millions of shareholder dollars to produce a 100-page deck telling them what they already know.
This is not management. It is intellectual money laundering.
They use shareholder capital to buy an insurance policy for their own careers. If the plan fails, they can blame the consultants. They delegate the work because they are terrified of the responsibility. They would rather preside over a slow, comfortable decline than risk a bold mistake.
While American Insiders are busy optimizing their severance packages, our global competitors are optimizing their products. They are not slowed down by bureaucracy. They are not waiting for a slide deck. They are outworking us.
If we continue to fill our C-suites with administrators instead of operators, we will lose our edge. We will see iconic American franchises hollowed out by fees, managed for the benefit of the Insiders, while the true owners—the shareholders—are left holding the bag.
The time for polite governance is over.
If we want to save the American economy from mediocrity, we must demand a return to the "Owner’s Mentality." We need leaders who treat shareholder capital with the same reverence they treat their own savings. The era of the Risk-Free Insider must end.
At no point in human history have we been subjected to so much life advice from complete strangers, be very careful about whose words you take to heart, they're selling their path and know nothing of yours
College students would need to be paid $59 (on average) to deactivate TikTok for a month, but would *pay* $28 for it to be deactivated for them and their social circles for the same amount of time.