People who aren't self obsessed are becoming rare. It's an interesting development. I guess it must be hard to find a friend who listens and give feedback instead of talking about themselves.
That is so bizarre for me to read this:
"83% said they'd spent zero time just thinking"
I struggle to turn down my inner dialogue, because I enjoy being in my head juggling with ideas, and I thought I was the weird one for doing it. What is hiding in those people's head that they are scared of being alone in it ?
I think this is confusing efficiency with overfitting. A lot of the problems described in the article arise due to overfitting models to the historical data. We overfited supply chain management because covid doesn't happen often, we overfited credit modeling because chain reaction of default doesn't happen often... We actually weren't efficient enough, we ignored tail events.
That doesn't solve the big part of the problem which is the co-ownership of competing companies. A blackrock manager voting for you or you voting doesn't change anything. Through the fund, you co-own multiple competing companies, therefore you won't vote for policies that would increase competition between those companies.
I have been working on such a system and it is NOT a huge loss of your time. I've learned so much things in the past year, in market microstructure, in networking (infrastructure, protocols), cloud computing, cloud management (docker swarm, kubernetes), linux kernel bypass, distributed systems, data base, and I've read hundreds of papers on neural networks, gaussian processes, etc... If you are wondering if you should get into this, it is one of the best learning experience you will ever have.
The only times I click on ads is to see what competing businesses are doing / offering. I am pretty sure they would actually save money by stopping showing me ads.
Is it a project that hasn't been released yet ? Or by "clearing layer that can be settled with crypto" you simply mean route ILP payments between two currencies with crypto in the middle ?
I am glad to read this, because it really sounds weird to me that so much people blame AI for not being able to do causal reasoning, while us human don't even do in my sense "strict" causal reasoning. I feel like we just learned a small subset of causal rules just like AI algorithms, by having experienced a lot of events that followed those rules.
The article seems to indicate that those gains are all paper money due to the huge inflation in the stock market. On paper they look richer, but they can't do much with their "money" anyway. I think a more rational measure of inequality is through the possession of "important" assets like real estate, lands, power (political influence, ...). Of course the real problem comes when the lower and middle class sells their real wealth for stocks at the top, and the 1 percenters sell them their paper gains for "important" assets.