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The whole thing was a scam

garymarcus.substack.com

331–340 of 347 posts

Re: The whole thing was a scam

#331

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…

Great summary, thank you for taking the time

Re: The whole thing was a scam

#332
post #35

Earlier quoted context omitted.

>2025 was also the first year that the majority of stocks were traded off-market (i.e. hedgie darkpools, no public price discovery). Do you have any sources for that?

It sounds quite plausible. Almost all equity ETFs do their balancing against dark pools or directly with market makers to avoid arbitrage and to ensure enough liquidity. Since index ETFs have more AUM than the underlying instruments (the “ETF tail wagging the dog”), this sounds like a natural evolution. There is nothing nefarious about this, it’s just how the markets work.

>nothing nefarious ... it’s just how the markets work.

first_time.meme | Gold "up" 3.12% pre-Monday trading ($5411) #USDeflation #ThisGuyGetsIt

Re: The whole thing was a scam

#333
post #304
post #245

Earlier quoted context omitted.

I don't know how you can say that. What does "free market capitalism" entail according to you? Wikipedia's definition is just a ruse to be able to claim that free market capitalism is sane, but you can't exclude a governing authority and monopolies at the same time, because the latter always arises. So, in reality, you have to choose, and if you choose absence of authority, corporatocracy is an automatic extension of…

Every unmaintained system degrades. That's next to a tautology. In my opinion, the base problem is modern technology itself that creates the capability for widespread wealth inequality and social fragmentation, without needing real labor or social bonds anymore.

I think the latter problem already existed 1000, even 2000 years ago.

But maintenance requires supervision, which seems to contradict "free" in "free market capitalism." Without restrictions, greed makes corporations (or armies, or the maffia) seek influence at the highest levels of governance.

Re: The whole thing was a scam

#334

Earlier quoted context omitted.

Don't get too complacent, the far right is on the rise in EU, and corruption follows.

corruption follows :') ... corruption is already there. just the color of the banner is changing. dont be naive.

Naive huh? Right wing/fascist corruption is a serious level-up of corruption. If you think your semi-socialist EU government is corrupt now, just wait until AFD or your local fascist+populist equivalent gets in.

Us US-ians are no longer naive. US was certainly corrupt before, and muckrakers had an uphill battle showing how e.g. Democratic admins were subservient to the oligarchy. But Trump has certainly taken this to a new level, and while it's a little bit sanity-enhancing to finally have middle-of-the-road friends see how bad things are for once, the brazen-ness of it all is nothing to celebrate.

What's more, it's precisely what happened with Putin, Orban, Berlusconi, Modi, Bukele &c &c &c. The right wing seeks to "finish the job" of private capture of public interests, and the populist side of it adds the mafioso "all in the family" touch where corporations explicitly kiss the ring.

Re: The whole thing was a scam

#335

Earlier quoted context omitted.

I am not convinced. Lots of people in Europe were connected to Epstein's network and engaged in corrupt practices - it is allegations of these that lead to the two high profile arrests in the UK. Norway has just charged a former Prime Minster (also a former Secretary General of the Council of Europe) with corruption. The US is probably more corrupt that the most developed European countries, but they have also been b…

wow. you're comparing EU: crimes happened, were exposed, people suffered consequences, with USA: no criminal suffered anything, president joining on a genocide for real state deals bribe, etc. kinda a stretch, don't you think?

How many people have suffered consequences anyway? Epstein ran a large sex abuse network and and even larger corruption network. How many people have been sentenced so far? How many are even being investigated?

While most of the network in in the US, there are very many highly placed people in Europe who will have been involved, and so far only a few have suffered. One Norwegian charged, two in the UK under investigation arrested and released.

> wow. you're comparing EU

Apart from the investigation in France, have guilty parties in any EU countries been charged, convicted, or are even facing invetigation?

Re: The whole thing was a scam

#336
post #75

In a closed society where everybody's guilty, the only crime is getting caught. In a world of thieves, the only final sin is stupidity. This HST quote seems severely outdated by now. They have already been caught, committed all the sins of stupidity and some more. All of it to the clapping mob of people who yearn for some kind of social revenge. And it’s happening everywhere these last years. Who could possibly know…

Not a week goes by without me thinking "what would HST have made of THIS fresh bullshit, if he were alive today"

Addon: I mean Hunter S Thompson of course

Re: The whole thing was a scam

#337
post #330

Earlier quoted context omitted.

To whoever downvoted this: you're an ass for downvoting this without at least explaining why you disagree. It's perfectly valid to give up on people, there is only so much time and energy to go around. You could lean into the negativity or you could choose to spend your time and energy on other people instead.

> you're an ass for downvoting this without at least explaining why you disagree. This 'drive-by downvoting' is becoming endemic on HN. Downvoting should be reserved for comments that do not contribute to the conversation, not as a lazy way of signalling disagreement because you can't be arsed writing a rebuttal. Such downvoting leads to groupthink and unpopular ideas being hidden. It's turning this place into anothe…

>Please don't comment about the voting on comments. It never does any good, and it makes boring reading.[0]

[0] https://news.ycombinator.com/newsguidelines.html

Re: The whole thing was a scam

#338

Earlier quoted context omitted.

My step-mother (who didn't come into my life until around the time I got married. She is actually a pretty nice person overall, she is just... shall we say, opinionated, and could be somewhat racist once the conversation turned to politics. I always stopped participating in the conversation when she made racist statements, but she never fully seemed to take the hint. Then we had a child. Once our kid was old enough t…

And she'll continue to think the way she did before. But at least she shuts up so you've achieved that much. Beware of what happens when you leave your kid with her if you are not around, better yet, don't.

Well, you don't know her, or me, so I don't think you're qualified to offer specific advice.

Re: The whole thing was a scam

#339

Earlier quoted context omitted.

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.

I don't think the world needs another geeky guy making a podcast about his unearned political opinions. I have all the equipment necessary for a podcast (a decent Shure microphone and Zoom sound interface), but my political opinions don't usually stray too far from typical American progressive stuff and there's already a million podcasts for those kinds of viewpoints from people more educated on these subjects than I…

You might give it a try. If you signal your loyalty consistently enough, you might find a patron who will give you a little money to live as a progressive missionary. You may not have the genetic bona fides to get a speaking role on NPR, but there are plenty of fake charity jobs out there supporting “the movement“

Re: The whole thing was a scam

#340
post #24

Earlier quoted context omitted.

Anywhere offering opportunity. I'm in Europe, I'd like to see it come here. The news I see suggests China's ahead of us in this race, but I don't know if that's for all talent, or if it was just an artefact of a lot of Chinese people in the US on work visas returning home. Or indeed whether the news about China doing well here was real or hallucinated by an LLM.

If engineers in the US (i.e. me) want to find work in Europe, what can we do? I know that’s a googleable question but honestly I can’t help but think that there cannot be any European country that would want me and my family. Immigration is hard.

Immigrating to Denmark is somewhat easy if you're an engineer. You have a set of skills that there is a recognized shortage of[0] and you'll be making more than the $70000 that qualifies you to take part in the fast-track scheme.[1] Quite a lot of Danish companies have employees from other EU countries and already use English as their working language.

0: Various kinds of engineers are on the so-called Positive List, see sections 21 & 25 on this page: https://nyidanmark.dk/en-GB/You-want-to-apply/Work/Positive-...

1: The supplementary pay limit track requires an annual salary of DKK 446000 (~$70000). This track could close if unemployment rises sharply, but it has been open for 6 out of the last 7 years: https://nyidanmark.dk/en-GB/You-want-to-apply/Work/Fast-trac...

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