Investment is a bet on what the future will look like and a vote on what the future should look like. These two observations are sometime in tension.
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An interesting related observation, which I think I’m stealing from
@patrickc, is that both the bets and the votes get distributed along things adjacent to the intellectual interests of whomever did really well in the last iteration of the game.2 replies 4 retweets 51 likesShow this thread -
I think that people probably agree with that in the abstract but (and this is a recurring theme for me) don’t do the strategy implied by it, which is to make bets on who will do well in N+1 and get upstream of their intellectual interests starting immediately.
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Replying to @patio11
Hmm I would argue people do do this. But in general I’m not a fan of it because of cycle time mismatch it really over weights grifters since easier for people willing to do fast fashion-esque shift to match market multiple
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I can think of a lot of examples of that, too, but the optimist in me thinks that intellectual traditions worth preserving have to somehow be robust against a gadfly reading three books and being able to successfully present as an expert, or *what’s the point.*
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