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The Ponzi Career

drorpoleg.com

141–150 of 310 posts

Re: The Ponzi Career

#141
> For example, if Elon Musk succeeds in landing the first person on Mars, his coin price should theoretically go up. And if, in contrast, he makes a racial slur during a press conference, his coin price should theoretically go down.

Yes, and when people are making emotional/ideological financial decisions, I’ll buy the dip.

Re: The Ponzi Career

#142

Lambda school seems like an example of perfectly aligned incentives. I wouldn't mind if private higher and trade education was required to only take in money through such setup. And if people deem less practical education necessary it should be funded from taxes only.

The European system with higher income tax and heavily subsidised universities practically has the same result. Anyone (that is a permanent resident) can go to a top school, but you're paying it back the 40 years after with 50%+ income tax if you get a good job.

Re: The Ponzi Career

#143
post #17

"Isn't this the same as traditional student debt or, worse, indentured servitude? Not really" Saying "not really" doesn't make something so. This is, literary indentured servitude. By definition.

At least in the version that existed in early America indentured servitude allowed for coercion and there was no bankruptcy option. Whereas in modern law specific performance for personal service contracts are strictly forbidden and bankruptcy is out there.

But student loans are exempt from bankruptcy, so in a way that particular investment in future earnings is a bit outside the modern protections.

Re: The Ponzi Career

#144
post #52

Earlier quoted context omitted.

> I don't have the personal skills to "sell" myself Actually you do. You've demonstrated them in this very comment. Maybe you don't realize this, or maybe your self-deprecation is a deliberate part of your strategy. Either way, it worked on me. This comment led me to your profile, which led me to your company web sites, which impressed me. I don't need an iOS app developer at the moment, but if I did you'd be at the…

To reiterate, it is very likely that those people who passed on you or didn't become interested due to the lack of self-marketing are not the people you would want to work with and doubly are not actually offering the job you thought you were applying for. Grifters interview and hire grifters because their org/team/company relies on the grift more than the truth to make ends meet. If you can't grift, you frankly don'…

OP took the high road and the much harder path. All you have to do these days is put all your skill points into Charisma and bullshit your way through an entire career. No other skills needed. Look at Elizabeth Holmes and that WeWork guy. People were falling over themselves giving them money. Generational wealth achieved by having no ability bedsides running their mouth. Even normal jobs, so many people just blah, blah, blah their way through the interview and the job, and then by the time anyone checks, they're off to do it again at a different company.

It’s getting harder and harder to teach my kid that honor, integrity and hard work are still important, when you can easily find counter-examples, and they are more and more becoming the norm.

Re: The Ponzi Career

#147

Earlier quoted context omitted.

It's not a character flaw or lack of skills in not being able to "sell yourself". It's a sense of dignity and pride as a working person. You are not a commodity, you are a human being. You may look like a commodity to a business owner, but you refuse to allow yourself to become one. Honesty and honor are worth more than money. There is money to be made in making yourself into a sort of corporate dog, but it will leav…

I am not really sure of what it is you call honor though. To me it is a word whose meaning I don't really understand whose main purpose seems to justify leaders in sending people to their death at war and by men to justify murdering women/other men. It is at best anachronic, at worst dangerous. (Of course I am not accusing you of promoting murder but that's a word that has a sad history and I hope we get rid of it in…

Honor just means doing the right thing, and it is also the respect you receive for doing so. The history of the word just means being a good person.

Honor in terms of death and politics is often a manipulated distortion of what is right.

Doing the right thing is often difficult, and this notion is used to manipulate people into killing each other.

There is honor in not selling your dignity for money, or in doing the right thing when it is unpopular or difficult.

There is no honor in killing people to enforce an oppressive power structure. It's about your personal choices, it's not inherently political.

Re: The Ponzi Career

#148

Earlier quoted context omitted.

To reiterate, it is very likely that those people who passed on you or didn't become interested due to the lack of self-marketing are not the people you would want to work with and doubly are not actually offering the job you thought you were applying for. Grifters interview and hire grifters because their org/team/company relies on the grift more than the truth to make ends meet. If you can't grift, you frankly don'…

OP took the high road and the much harder path. All you have to do these days is put all your skill points into Charisma and bullshit your way through an entire career. No other skills needed. Look at Elizabeth Holmes and that WeWork guy. People were falling over themselves giving them money. Generational wealth achieved by having no ability bedsides running their mouth. Even normal jobs, so many people just blah, bl…

Especially so when these 'all talk no action' types are prominently displayed on television being lauded precisely for their talk.

Re: The Ponzi Career

#149

Earlier quoted context omitted.

It's not a character flaw or lack of skills in not being able to "sell yourself". It's a sense of dignity and pride as a working person. You are not a commodity, you are a human being. You may look like a commodity to a business owner, but you refuse to allow yourself to become one. Honesty and honor are worth more than money. There is money to be made in making yourself into a sort of corporate dog, but it will leav…

I am not really sure of what it is you call honor though. To me it is a word whose meaning I don't really understand whose main purpose seems to justify leaders in sending people to their death at war and by men to justify murdering women/other men. It is at best anachronic, at worst dangerous. (Of course I am not accusing you of promoting murder but that's a word that has a sad history and I hope we get rid of it in…

honor means recognizing the divide between your self as you experience it or wish it to be, and the 'you' enacted upon the world, and working to align the latter with the former. this can be manipulated in bad ways, obviously, but to be honorable is to manifest your virtue.

'honor killing' is a result of corporate identity -- cultural understandings of the self as inseparable from the family that created you. western culture generally does not carry this view, and treats people as individuals. individual honor is generally not burdened by the actions of your relatives unless one plays a direct role in them.

Re: The Ponzi Career

#150

Earlier quoted context omitted.

We agree that its wealth redistribution by anyother name. Certainly. The difference is that taxing is done in the name of public/government interest whereas profit sharing is done in the name of private/individual interest.

what i am trying to say is that if a government supplied sufficient upfront investment in education (which is basically what's going on here) then no student would have an incentive to add an additional lieu on their future earnings. and governments should see education if their citizens as an investment repayable through future taxes

One complicating factor: the repayment on this investment could very well be collected by another government, should said citizen leave.

A similar problem to that of businesses financing education of their current or prospective staff.

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