Economics professor at the University of California, Berkeley and a former Deputy Assistant Secretary of the US Treasury. Author of Slouching Towards Utopia and writer of the Grasping Reality newsletter.
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Their wordsFreedom of navigation is a global public good, and public goods decay the instant their provider is revealed to be unwilling to pay for them.
Their wordsFreedom of navigation is a global public good, and public goods decay the instant their provider is revealed to be unwilling to pay for them.
Their wordsIf the useful life of an NVIDIA H100-vintage cluster turns out to really be three years rather than six, the capex cycle's economics invert, and the leverage that looked prudent looks reckless.
Their wordsChokepoint risk does more than spike the spot price for a season. It re-prices geography permanently: it redirects the next decade of pipeline and terminal investment and hands a windfall to whoever sits on the alternative route.
Their wordsHaving survived, its governing élite and state apparatus spent the next thousand years arranging its institutions so that no imperial general could ever successfully such a thing again. That arrangement kept the emperors and their courts relatively safe. It may also have cost Chinese civilization the ability to lead the Industrial Revolution.
Their wordsBarry Ritholtz’s guide to building a reading list is generous, disciplined, and quietly self-defeating — because the better his curation, the more it adds to the very flood it’s meant to tame.
Their wordsIf the useful life of an NVIDIA H100-vintage cluster turns out to really be three years rather than six, the capex cycle's economics invert, and the leverage that looked prudent looks reckless.
Their wordsThat means that the important and live questions are about what metaphors—what abstraction layers, throwing away information so that the problems become things we can grasp and think about—are useful right now?
Their wordsThat will be a large part of what readers will increasingly pay for: domain-knowledge expertise visibly hacking through increasing amounts of AI-slop.
Their wordsCuration is thus an inevitable bet on judgment over completeness — you accept that you will miss almost everything, and you invest your scarce attention in a few people whose sense of the common thread you trust.