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A modern economy as best as I can grok it: Money used to buy stuff: $100 Money used to buy money: $200 Money used to bet on money used to buy money: $400 Money used to buy money to bet on money used to bet on money used to buy money: $1300 Total: $2000 % used to buy stuff: 5%
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Information abundance, not strictly bad! Think of how many bits of information are on the screen you’re using now, compare to how many bits of knowledge you get from this tweet. And money is just 200-proof information.
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