> If you open a government S&P 500 account for everyone with $1,000 at birth that’ll pay their social security cause it like…goes up…wait who’s creating this value again? This is a good point. Some VCs were major proponents of this (and tons of other business people I'm sure), but this is of course just a guaranteed inflow into the largest companies and the companies that think they will be large some day. Yet anothe…
It is an allocation to the biggest companies at any time. ETFs need to rebalance, increase, decrease shares of a given stock and even evict them. Buying shares on SPY exposes you to the current companies but also any companies that will join. If a company gets evicted, then there is massive drop in their stock pricing as most movement is mechanistic and done by ETFs. Well massive is relative. For example last week we…
Are we the baddies?
251–260 of 554 posts
Re: Are we the baddies?
#252For some people, paying the premium to jump the queue is the point. What they didn't forsee is what happens when everyone has wound up paying the premium, and the queue is now with you again. This is mostly Australian frequent flyers, when it was a high barrier to entry it conferred advantages and now Fly in Fly out work has commoditised club status, there is next to no boarding advantage, and no points flight availa…
> My fellow Australians all feel a bit shit about the introduction of tipping in paywave and food service. That's unaustralian. We have legally enforced minimum wages and penalty rates. Turn that feature off. I think non-Americans need to take a stand against this. Refuse all tipping. Its a slippery slope - I know these guys are underpaid but if you start tipping the wages will just drop and we're all worse off.
Re: Are we the baddies?
#253>But eventually the market will fix this, right? People will feel sick of being manipulated and move elsewhere? You can literally go outside and talk to people. There's no moat around dating apps. Human beings continue to exist in meatspace. I am yet to see a dating app contract that prevents you from being casually approached by strangers. Heck matchmakers still exist.
Only in small towns with high trust societies, sadly.
Re: Are we the baddies?
#254For some people, paying the premium to jump the queue is the point. What they didn't forsee is what happens when everyone has wound up paying the premium, and the queue is now with you again. This is mostly Australian frequent flyers, when it was a high barrier to entry it conferred advantages and now Fly in Fly out work has commoditised club status, there is next to no boarding advantage, and no points flight availa…
That's simply discovering the true price of a product. We're living in a mega-inflationary period, but most people won't accept that a dollar or a euro is actually worth no more than 30 cents. So sellers are putting things which used to be included at a premium price. If people pay, then that is the price.
It's highly annoying as a customer, but the general public won't accept that product and services they pay for cost double than they used to. At the same time the general public demands that their real estate and stock investments should be valued at triple or quadruple than what they used to.
Re: Are we the baddies?
#255Re: Are we the baddies?
#256Earlier quoted context omitted.
Carefully considering actions that might have life-ruining consequences is not overthinking.
I recommend being very honest with yourself here, whether or not you want to share it in a reply. Is the low chance of bad consequences the only factor keeping you from talking to strangers? There’s a low chance of bad consequences when you cross a busy street, too. Is fear of rejection by an individual or group a factor, too? There’s a much higher chance of that happening, but it’s far from life ruining. Are you wor…
When it comes to social context, you might miss some kind of sign and the worst cases there are pretty terrifying, might even get arrested in UK, which will lead to losing a job, failing any background checks, might even become homeless — and nobody sane will have any empathy for your mistake.
So I really do not get why people are against dating apps, when those are the best thing ever to avoid catastrophic consequences for initial approach.
Re: Are we the baddies?
#257Earlier quoted context omitted.
> I don't think there are many proponents of that type of ubi. Another good sign of a difficult policy to implement successfully/an idea that isn't ready for primetime. If everyone has different ideas of what the thing is, it's very hard to make good decisions, and easy for the "wrong" UBI to sneak in. Other commenters have already made this point, but there are other ways to guarantee "subsistence". I think the hard…
> Another good sign of a difficult policy to implement successfully/an idea that isn't ready for primetime. It will never be ready for primetime because the system under which we live requires an underclass of people that are coerced into working jobs that no one really wants to do for abysmally low wages. Because the only other option left for them is homelessness and starvation. It is an inherently cruel system, bu…
We're talking about how it might be about to not require the this underclass, and how we might need a UBI to fix that right? Can it be both of these things at once?
Also as a side note, I think that it's kind of arrogant to think we can create a society where no one does work they don't like, for wages that are always perfect. Nature is not that way, and creating those condition is basically asking for utopia. There is probably always a percentage of undesirable outcomes that every society must endure (and undesirable outcomes are a moving target).
I get your stance on the cruelty of the current system, but I want to note that in the span of human time we've had MUCH crueler systems in place. For example in the US despite the perceived high cruelty of the system, soup kitchens exist, governmental help exists -- there are a lot of things that exist that wouldn't exist in a maximally cruel society/one you describe. There are places on the planet we live on now where these safety nets don't exist.
The problem is the relative position of those with the most resources in society to those with the least. That, is fixable.
> It's important to qualify that "we" as "we that make six figures working in white collar jobs". Yes, "we" are making do without UBI just fine. This "we" does not include the vast majority of people.
I mean that we in the sense that no known society has collapsed because of a lack of UBI (would love to be corrected here). UBI is clearly, objectively not a need.
There are other ways to create a society that works for those with and without, what is probably most needed is clarity on those steps/what we want to guarantee people who live in the given society.
I would disagree that the "majority" of people in (for example) the US are against the current situation. The poverty rate (likely a reasonable proxy for an economic system that really isn't working) is not above 50%. People may
It's hard to quantify -- one of the things about sentiment polling is that people often just don't have a good grasp on how well or how badly they're doing. See earlier this year, when sentiment polling basically was incredibly negative, yet the "economy" as a whole is still mostly chugging along and unemployment has not spiked dramatically across all industries. Tech is in dire straits but "regular" jobs like HVAC, Plumbing, etc are doing fantastic AFAIK.
> Hopefully plummeting birth rates will throw a wrench to this system by making labor a lot more expensive.
Yes, except that is happening at the same time that we've turned what could be a huge corner on automation of both white collar and maybe eventually blue collar work.
I think the price of labor needs to go up, but this is only part of the equation. The more direct answer is simpler -- we need higher taxes on businesses or automation or both.
If you want to profit from US citizens (US company or not!), enjoy infrastructure and stability provided by the US, then the price for that can rise. Charge businesses for the jobs they don't create.
The classic refrain to the increased tax is that businesses will leave. I think that's absolute bullshit -- the US is where people want to be for many reasons, and it is incredibly unlikely that companies will unseat themselves to go run their headquarters out of malta or whatever. Also, incredibly unlikely that all the people who work at those companies will go redomicile. Also, INCREDIBLY unlikely that those companies will give up on the incredibly profitable American consumer they're targeting. What we lack is politicians who can/want to reign in corporate power.
Re: Are we the baddies?
#258Earlier quoted context omitted.
How would communism help with that? Make women common property?
I suppose if all men made the same salary that would level the playing field to some degree.
Re: Are we the baddies?
#259Earlier quoted context omitted.
> make you comfortable while you exist I don't think there are many proponents of that type of ubi. The way, at least I, see ubi is absolute subsistence - with a right to earn above that without affecting your subsistence. IMHO something along UBI is needed for a democratized market economy - and I think the Scandinavian countries are the support for this claim.
If everyone gets an equal raise (whatever the UBI is), wouldn’t the entire market simply adjust to price that in, leaving everyone in the same relative position?
I have not heard a convincing argument the other way, would really appreciate a link to one if you find one.
Re: Are we the baddies?
#260Earlier quoted context omitted.
> Not where I live I never understand why people make comments like this and leave it to the reader to guess where they live. Your profile has your email and linkedin, so it's not like you're trying to stay anonymous. And to your point, local taxis being less expensive is unusual in my travels from 50+ countries. Uber/Grab/Bolt/Gojeck/Maxim are almost always significantly cheaper and more reliable in my experience, e…
Not GP but I didn't mention either; Netherlands.