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Pinboard

@Pinboard

The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Lonely street of broken dreams
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Joined July 2009

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    1. Pinboard‏ @Pinboard 15 Feb 2020

      Matt Levine has a funny writeup today of a SoftBank-funded pizza delivery chain that failed after a $375M investment. But this is the dynamic killing innovation in tech. Imagine if you were the one for-profit pizzeria in an environment where everyone else gets stupid moneypic.twitter.com/iA9uL2C5xK

      3 replies 34 retweets 117 likes
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    2. Pinboard‏ @Pinboard 15 Feb 2020

      Look in any healthy industry and you'll see profitable businesses at a variety of scales. The mom-and-pop spaghetti joint coexists with Sbarro, the hipster cafe with Starbucks. But in tech right now, there's only oligopoly and venture-funded moon shots. And Pinboard—use Pinboard

      4 replies 8 retweets 111 likes
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    3. Pinboard‏ @Pinboard 15 Feb 2020

      In 2014, I described a dynamic called "investor storytime", arguing that the business model of the Internet had become playing Scheherazade to gullible rich people. Now Levine has charted its further descent into a self-conning feedback loop where everyone becomes a true believerpic.twitter.com/D3qEzHMQy9

      1 reply 18 retweets 83 likes
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    4. Pinboard‏ @Pinboard 15 Feb 2020

      The entire point of a market economy is to break such feedback loops of self-delusion by forcing a point of contact with reality. It works on a similar principle as elections. If you never have to earn a profit, or win votes, then you'll spiral off into self-indulgent insanity

      1 reply 10 retweets 77 likes
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      Pinboard‏ @Pinboard 15 Feb 2020

      Young people look at startups literally throwing electric scooters into the ocean and say "for shame, capitalism!". But they're describing a failure of central planning. Capitalism involves top hats and the efficient allocation of resources.https://www.surfer.com/features/please-stop-throwing-bird-scooters-in-the-ocean/ …

      11:42 AM - 15 Feb 2020
      • 9 Retweets
      • 43 Likes
      • "Wild" Breetz, Fastest Punslinger in the West Aneel ✊🏽 Allways wladimir Avery Edison DMCA Safe Harbormaster ⚖💾👨‍⚖⛤☠ Since `17 benjamin black Kevin Chen
      9 replies 9 retweets 43 likes
        1. New conversation
        2. tonnydourado‏ @tonnydourado 15 Feb 2020
          Replying to @Pinboard

          We can play semantic hot potato all day long, but in the end the vast majority of people yelling that public health care is communism and will bring the end of civilization also claim that the current state of things is a) good and b) capitalism.

          2 replies 0 retweets 5 likes
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        2. Bruce Richardson‏ @tisbruce 15 Feb 2020
          Replying to @Pinboard

          Most avowed capitalists these days see the lightest of intervention, regulation or taxation to encourage responsible behaviour as rampant Bolshevism.

          1 reply 0 retweets 2 likes
        3. Bruce Richardson‏ @tisbruce 15 Feb 2020
          Replying to @tisbruce @Pinboard

          The period where anything approaching the level of planning needed to mitigate unprincipled consumerism was tolerated was a depressingly short interval in the history of capitalism. Hell, the minimal legal/social apparatus to keep fraud and theft in check is well out of fashion.

          1 reply 0 retweets 1 like
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        2. The Competence Tank Is Empty‏ @aspirational_no 15 Feb 2020
          Replying to @Pinboard

          There was are enough periods in history where capitalism didn't work, suggesting that efficient-distribution phase of capitalism is just that; a phase. Economists want to tell you it's the default state but a clear-eyed view of history suggests otherwise.

          1 reply 0 retweets 1 like
        3. Pinboard‏ @Pinboard 15 Feb 2020
          Replying to @aspirational_no

          I think of capitalism as more of an effective engine. You still need to put a muffler on it, make sure there's no lead in the fuel, force it to obey stop signs, etc. But it's good at aligning needs with production in an affluent society.

          2 replies 0 retweets 17 likes
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        1. Since `17‏ @GIGACHURCH 15 Feb 2020
          Replying to @Pinboard

          But this is also a failure of capitalism, because capitalism allocated so much money to these oligarchs that they can afford to play these games. Or is it something else?

          0 replies 0 retweets 0 likes
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        2. Brandon Downey‏ @bdowney 15 Feb 2020
          Replying to @Pinboard

          https://en.wikipedia.org/wiki/Economic_calculation_problem … is a good discussion. The issue is that if you accumulate enough capital you can be disjoint from consequence for longer than humans can learn lessons. Incredibly large supplies of venture capital are ofc one way this happens.

          2 replies 0 retweets 6 likes
        3. Brandon Downey‏ @bdowney 15 Feb 2020
          Replying to @bdowney @Pinboard

          But another way is that if your corporation has cornered a market or succeeded so well it has basically used scale to have a decades-long money hose attached, then you have the same problem INSIDE the company. Apple, Google, FB, and MSFT all have this problem!

          1 reply 0 retweets 1 like
        4. Show replies
        1. Gravity Pike‏ @GravityPike 15 Feb 2020
          Replying to @Pinboard

          When Americans say "socialism," they overwhelmingly mean, "I want a social safety net so that my boss doesn't get to decide whether I can have chemo or not." We don't want to get rid of money, we just want to tax billionaires so the floor is a little closer to "not dying."

          0 replies 0 retweets 4 likes
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