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The whole thing was a scam

garymarcus.substack.com

161–170 of 347 posts

Re: The whole thing was a scam

#161

Earlier quoted context omitted.

I’m one of those criticasters and I’m getting downvoted constantly. I don’t care about the downvotes. I do care about western countries slipping into fascism just because people are so proud to admit they voted for a stupid clown.

I'm more upset about the large group of people in the startup industry, possibly even a majority, who would be totally happy about countries slipping into fascism if they made a little more money along the way. Who cares about ethics and morality? Those aren't profitable!

Yes, but it's not just personal moral failings, the system itself is corrupt. Rich people aren't supposed to be constantly living on the precipice and forced to double down on evil to keep their wealth. It shouldn't be all-or nothing. This is the result of our debt-based system. This is deeply abnormal. Rich people should be comfortable in every way and should have the surplus to take a moral stance without risking to lose everything. You can see this play out very clearly with OpenAI. Sam has enemies. He may have done some things that he fears would catch up with him if he loses power. It's always like this with the most powerful people; they usually end up making Faustian bargains which put them into extreme all-or-nothing situations and they take the entire world for a ride with them.

That's not to say anyone should be excused but the system's fragility compounds the problem.

Re: The whole thing was a scam

#162

Earlier quoted context omitted.

Simply spending money to get someone you like elected isn’t bribery. To the degree great inequality leads to this being decisive in elections, it is a corrupting influence, but the term for it is still not “bribery”. But when a presidential candidate tells oil companies they should donate because he is going to help them, that’s solid bribery. When companies pay to “settle” ridiculous accusations, or “donate” to a pr…

In actual functioning democracies political donations are capped severely. Say, a single donor can contribute a maximum of €6,000 per parliament candidate per election. Yes, that's a real limit.

Except for clusters of highly correlated private interest groups. PACs. Which completely circumvent that.

Ideally they "shouldn't". But in practice they do.

Because the Supreme Court determined that money is free speech, its use in elections cannot be limited in general.

And where coordination between purportedly independent groups isn't supposed to happen, there is a strong "don't ask, don't tell" code, and a mountain of lawyers ready to scream "political oppression!" on the dime of the rich.

Re: The whole thing was a scam

#163
post #95

Earlier quoted context omitted.

I've said it a million times, but I'll repeat it. There are a lot of conspiracy nuts like Alex Jones, and the amusing thing to me is that there is a conspiracy of elites who are exerting large amounts of unelected control of the government, and who are actively working to keep you down to enrich themselves, and it's not even a secret. We call these people "billionaires", and at this point they don't even bother hidin…

Be the change, my man. Try to make a podcast. I think it will eventually make sense why nobody who is a threat and also famous.

> Be the change, my man. Try to make a podcast.

This might be the funniest thing I’ve read today.

Re: The whole thing was a scam

#164
How disappointing it is to see how easily some leaders in our industry abandon their principles, and how cheaply they sell out their fellow man.

The tech industry was never perfect. It was never a charity. But there was a time, several years ago now, when people were more driven to build things that delighted others.

Re: The whole thing was a scam

#165

This is only a surprise to HN, because all the other threads about the corrupt US regime have been flagged before. I guess now is a good time as any to start paying attention. Who would've thought that attention is all you need?

When you say "HN", do you mean you? Who else was surprised? The place is full of people constantly commenting about how bad the US is, how corrupt the government is, how terrible CEOs (particularly Altman) are, late stage capitalism, etc., etc.

They've been around forever, even before Trump's first administration. But a broken clock is right twice a day.

Those people also get down voted to oblivion. Their text is gray. I can't read it unless I click the timestamp.

Clearly, HN doesn't want us to listen to them.

Yes, sometimes they can be combative and inflammatory. But even the ones that are otherwise reasonable get down voted because how dare we insult capitalism and billionaires?

Re: The whole thing was a scam

#166
post #121

25M isn’t even that much money. Not only are they whores, they’re cheap whores.

It's more than that, supposedly Sama donated another 25mil through a PAC. I'm sure the Crypto AI Czar (David Sacks) being a major Anthropic hater didn't hurt either Or that Kushner put a billion in OpenAI recently EDIT: wow they got in at a huge discount too and OpenAI bought stake in Thrive... https://www.wsj.com/articles/thrive-capital-bought-shares-in... https://openai.com/index/thrive-holdings/

POTUS pretty much told you this is what you are getting. His great admiration for Andrew Jackson pretty much says it all. Jackson was the poster child for bullshit populism, patronage and corruption.

Re: The whole thing was a scam

#167

Earlier quoted context omitted.

When you say "HN", do you mean you? Who else was surprised? The place is full of people constantly commenting about how bad the US is, how corrupt the government is, how terrible CEOs (particularly Altman) are, late stage capitalism, etc., etc.

You know those people have existed since practically forever, right? You learn to tune it out and then you never notice if they start being less wrong.

It's the surface details problem: people post nice sounding things on the internet but don't think about them and do the nostradamus thing of predicting everything because caused by everything.

If you predict a corrupt cartel in "the US" will do a thing, then on a long enough timescale you'll eventually be right in general but wrong about every significant detail.

(also the people with this opinion don't seem to do anything with it - it doesn't appear to motivate them to vote, organize, think critically or come up with compromises - they simply turn out to belittle people on the internet while actually acting to normalize new excesses).

Re: The whole thing was a scam

#168
post #93

Earlier quoted context omitted.

Which prominent economist has argued that bribes are an essential part of Capitalism?

Someone came up with the "invisible hand of the free market" theory and become quite famous so I'd say we can add our own crackpot theories on top, apparently they don't have to be very well researched to stick around

[deleted]

Re: The whole thing was a scam

#169

Can someone ELI5?

Sam Altman "donated" a bunch of money to US government officials.

US government officials said "we're thinking of ruining Anthropic if they don't play ball".

Sam Altman publicly said "oh no, don't do that, that's terrible, they're right to not play ball".

Sam Altman signed a deal to play ball after he said that, and it turned out he had been working on this deal even before the US government officials said the thing about ruining Anthropic.

Re: The whole thing was a scam

#170

PS: If openly bribing a crony gov to cancel your competitor is now the de-facto standard of making business in the US, I don't see how any rational investor could still see US companies as a secure investment. When the rule of law degrades into pay-to-play politics, the inevitable result is a mass exodus of both capital and top-tier talent.

the inevitable result is a mass exodus of both capital and top-tier talent To where?

https://totalrealreturns.com/n/VTI,VXUS?start=2025-01-20
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