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vgr's profile
Venkatesh Rao
Venkatesh Rao
Venkatesh Rao
@vgr

Tweets

Venkatesh Rao

@vgr

Conversational account. For work follow @ribbonfarm, @breaking_smart, @artofgig. Tweets are 90% vacuous views, apathetically held. Mediocritopian. IKEA builder.

Los Angeles, CA
venkateshrao.com
Joined August 2007

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    1. Venkatesh Rao‏ @vgr Jul 13
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      If hibernating a small business is turning out to be impossible, there should be a way to do a soft-landing bankruptcy via a fast-track online court. Court discharges a fraction of the liabilities, terminates contracts, and lets owner look for alt life with a small starting stake

      4 replies 2 retweets 51 likes
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    2. Venkatesh Rao‏ @vgr Jul 13
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      Universal Basic Bailout.

      1 reply 1 retweet 15 likes
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      Venkatesh Rao‏ @vgr Jul 13
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      I have a feeling this thing is being made worse than it needs to be because we’re not letting business fail efficiently enough. We’re maintaining them on costly debt service ventilators.

      12:32 PM - 13 Jul 2020
      • 2 Retweets
      • 24 Likes
      • Jeff Jefe de Queso Robert Bingaman Mahdi Dev Rangarajan brennan Andrew Benson MilkersAnonymous Bob Lichtenfels
      2 replies 2 retweets 24 likes
        1. New conversation
        2. Venkatesh Rao‏ @vgr Jul 13
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          This could also be backdoor Georgism/LVT. For most small businesses, biggest liability is to landlords for lease I suspect. What are typical commercial lease break terms?

          2 replies 0 retweets 10 likes
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        3. Venkatesh Rao‏ @vgr Jul 13
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          PPP is the wrong priority. Yes people find it hard to bounce back after losing paychecks, but the hidden cost is frozen entrepreneurial drive, locked into keeping increasingly unsustainable businesses on life support. Free the entrepreneurs.

          1 reply 0 retweets 9 likes
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        4. Venkatesh Rao‏ @vgr Jul 13
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          It feels sort of fair to externalize most of the risk onto real estate owners because a) they are the literal rentier-est of rentiers b) have the easiest path to collateralizing what’s not already owned by the bank for bridge debt to hibernate with.

          1 reply 0 retweets 12 likes
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        5. Venkatesh Rao‏ @vgr Jul 13
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          And banks can reschedule mortgages more easily than almost any other kind of debt. It’s a good bet that people will find *something* to do with real estate after Covid even if existing uses collapse. Concentrate and dump all Covid risk on those who had it easiest in non-Covid.

          1 reply 1 retweet 14 likes
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        6. Venkatesh Rao‏ @vgr Jul 13
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          Increasingly convinced that unlike the underlying health crisis, the economic crisis is solvable with sufficient imagination. What’s getting in the way is not the technical difficulty of balancing monetary/fiscal equations but the psychological difficulty of satisfying ideologues

          2 replies 0 retweets 11 likes
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        7. Venkatesh Rao‏ @vgr Jul 13
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          Far-right Republicans are committed to opportunistic eugenics Moderate Republicans think poor will become dependent parasites. Moderate Democrats don’t want to help businesses Far-left Dems only want transient solutions that they can lock into permanent progressive regimes.

          3 replies 0 retweets 8 likes
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        8. Venkatesh Rao‏ @vgr Jul 13
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          This problem is only unsolvable if you want it to be version 1.0 of your glorious ideological revolution. If you treat it like a transient long crisis with more-than-palliative solutions that are open for dismantlement once it passes, more creative options become available.

          1 reply 1 retweet 10 likes
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        9. Venkatesh Rao‏ @vgr Jul 13
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          Covid recovery economic policy solution space is like Berlin in the last days of WW2. The Nazis were still a dangerous cornered threat, but already the B-plot. The A-plot was claiming turf for Cold War and grabbing as many German rocket scientists as possible.

          1 reply 1 retweet 6 likes
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        10. Venkatesh Rao‏ @vgr Jul 13
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          Here, the transient Covid pain management is already the B-plot. The A-plot is to claim maximal disaster capitalism turf.

          0 replies 0 retweets 9 likes
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        11. End of conversation
        1. Tough Love‏ @ToughLoveDem Jul 13
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          Replying to @vgr @tszzl

          Letting failure rip arguably kept spanish flu recession short. That's certainly the lesson Hoover and Co. learned and tried to apply after 1929 (v different).

          0 replies 0 retweets 1 like
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