People are driven by incentives, don't let language fool you.

Went away for 11 days, came back, was smoking a cigar on my balcony, and a pigeon brushed by my head very close. Was like WTF, then noticed an egg sitting in an empty pot near the railing. Now I look out the window, and there’s the pigeon sitting on it, and there’s two eggs. Not thrilled to have a pigeon taking over my small cigar smoking lounge/herb garden, but don’t have the heart to do anything about it. The empty pot is in the corner, away from the herbs, and I’m going away again next week for 12 days. Suicidal empathy probably, but assuming these dudes will hatch and fly away.

EU chat control passing in the shady way it did is good news. They were spying anyway, now the tech cos have to show their hands by complying or not. Second order effect is incentive for freedom tech innovation/adoption. This is what winning looks like — desperate flailing and overreach of illegitimate authorities.

A lot of you are fake and full of shit.

@YODL knows what I'm talking about

Remember when MSTR mooned, and Saylor was CIA?

no one is still taking covid boosters, right?

Good article. Would just argue SpaceX is being valued on the VAST future potential, not present earnings, and future potential is relatively uncapped in this one case. The AI companies are pretty hard to justify given it's almost a commodity at this point. Of course the numbers would be very different if we had a market-based hurdle rate rather than the FED. I also watched The Great Taking, and while it scared the shit out of me, I think it's not really saying anything we don't already know, namely that IF things break down badly, anything you don't physically (or mentally) hold will be a legal claim and nothing more. Think of the Palisades fires -- you can sue the insurance company for non-payment, but you no longer have a house, and you are reliant on third parties to enforce your contract . And the only thing ensuring your claims have real value are incentives -- they won't default on your shares or bonds because that would be catastrophic for their own portfolios and those of their friends and families too. Mutually assured destruction is what keeps the system afloat. But once things get so out of whack that there's nothing to lose, the incentives break down, and the great taking occurs. I think it definitely COULD get to that point, and when it does there probably won't be much warning, but in the meantime you have to live in the world as it is, pay the fiat bills, etc. because that time could be 5, 10 or 20 years away or happen never. Just make sure you have some insurance in the form of a bearer instrument rather than a claim.

Excerpt from latest podcast. Link to full:

Preference Falsification

Low-Grade TDS

What’s up with all the low-quality AI reply bots?

Nicotine on demand is miserable. A cigar in the evening while walking your dog is pleasant and civilized.

The communists will probably try to burn me at the stake eventually but think I’m gonna take up golf this fall. Got a friend who wants to do it, knows a cheap 9-hole course. Almost nothing I’d rather do than play a sport outside in the fresh air. Got into Padel 15 months ago and am playing 3x a week. Reminds me of when I used to play basketball all the time in my late 20s in LA almost 30 years ago.