"Why is the attention of so many smart people used in making companies specializing in hamburgers when it could instead be used on other subjects?" "Why do you have to pay people to get hamburgers made? Aren't hamburgers free in nature?"
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"Are hamburgers actually important, or is that just what Big Hamburger wants you to believe?" "Is the secret sauce of hamburgers actually poison?" "Michael Lewis claims that hamburgers are made out of the lamentations of poets from undiscovered dimensions. Are hamburgers safe?"
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that's true, but it sidesteps the actual sticking point, which is that laymen can't imagine why anyone would want liquidity in the way they would want a hamburger
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Yeah, you can't physically hold liquidity
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delicious pink slime: there’s demand for all sorts of weird stuff!
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IIRC pink slime is for nuggets, which are objectively superior to McDonald's hamburgers
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Liquidity isn’t a product in the same sense as a hamburger is. A hamburger is the point of the process that produces it. Liquidity is a side effect of its process. Incentives matter. The incentives for liquidity are indirect, and thus inefficient.
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wait what? I don’t follow but I am intrigued.
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Right – seems like he has a point, but I have no idea what it is.
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This simile may not work as well as you think as the cross-section of folks who don’t understand financial market liquidity and who are also anti-beef is probably quite large.
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