Victim of Communism

  • 4 Posts
  • 75 Comments
Joined 3 years ago
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Cake day: June 14th, 2023

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  • Despite the popular fantasy, the rich and powerful are not stupid.

    Uh… famously untrue. Mental illness has plagued monarchs, pharaohs, and caesers for millennia. That’s long before you get to all the quirked up white boys and trad rad girl bosses currently running things.

    You don’t know more about a company or market from passively consuming headlines than the leadership of that company.

    Okay, but you can review their balance sheets and their primary lines of credit. Case in point, Sam Altman is heavily reliant on three big financial partners - Softbank, Oracle, and NVIDIA. Two of these are - themselves - hemorrhaging money thanks to large capital outlays that have failed to produce substantive returns.

    There are finance journalists who get out ahead of this and report their own analysis. And you can find that in a thousand different private journals, substacks, and podcasts. But you can also go do the grunt work yourself if you’re ambitious.

    OpenAI’s financials have been disclosed already (although the official SEC filing is still upcoming). So… just read them if you doubt what you’re reading in the news. But it’s not some kind of secret that the business is operating at a loss, with a fixation on debt-fueled growth. The argument is over future projected revenue, which isn’t something business leadership can be any more certain of than a passive media consumer.

    I definitely get the knee-jerk impulse to announce “business professionals know more about business than internet idiots”. Because, sure. True. But the idea that business professionals don’t routinely make bad decisions has some pretty historic well-established counterpoints.

    “The business people know more” line is akin to saying “This used car dealer must know more about the vehicles on his lot than I do, so I can trust him”.













  • UnderpantsWeevil@lemmy.worldtomemes@lemmy.worldFuture
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    3 days ago

    the rest of the world doesn’t run that way (which isn’t possible)

    It is possible. And the bitter irony is that it would be better for everyone on average. Just not better for a few specific people on the whole.

    When sea rise lifts things a couple of meters, billions are displaced.

    Where will they run to? Not the US Gulf Coast or the Dutch flatlands. Not to the low lying Caribbean Islands or the coastline of Japan or Australia.

    The most Climate Change friendly regions are going to be high altitude but still retain access to lots of potable water. Curiously enough, that looks like… Iran, Venezuela, Afghanistan, and the Horn of Africa.

    All those Western yahoos screaming about illegal immigrants are on track to become ones. And right back to the countries they spent generations pissing off.





  • UnderpantsWeevil@lemmy.worldtomemes@lemmy.worldFuture
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    4 days ago

    Or peacefully migrate to areas that are sustainable and contribute to the project of rebuilding.

    But, again, the capacity to build and supply life sustaining amenities and the political willingness to distribute them in order to curry political favor rather than just generate profit will be central to a country’s power projection into the late 21st century.