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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Replying to @vgr
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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Replying to @ByrneHobart
Well we’re jpeg compressing the shit out of it now and realizing 95% of the nominal bits add low to negative info to the picture 
2:01 PM - 13 Mar 2020
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