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

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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 Aug 15
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      Can’t recall where I saw this (help?) but rideshare drivers typically don’t work longer during surge to maximize revenue while there’s more money to be made. They just work till they hit their daily income target and go home. I think I’ll call this uberrational economic behavior.

      19 replies 9 retweets 112 likes
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    2. Venkatesh Rao‏ @vgr Aug 15
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      This is not irrationality. It is exactly right kind of rationality for postmodern quality of life. You’re not going to make life changing amounts of money riding surges, and work/life balance has value at the resolution of a day. Future work/leisure time also must be discounted.

      4 replies 3 retweets 37 likes
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    3. Venkatesh Rao‏ @vgr Aug 15
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      If I could ride a 2x surge for an extra hour, I only save 2 hours tomorrow or next week. Maybe I just want to go home and chill today. Small, transient variations in income potential *should* be ignored. Maybe a 10x surge lasting a whole day? I’d take that. Gets me a week off.

      2 replies 1 retweet 22 likes
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    4. Venkatesh Rao‏ @vgr Aug 15
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      I don’t do ride share driving but I share the attitude and underlying time/money valuation stance. I never milk an income opportunity for all it’s worth, or kill myself with 100 hour weeks when there’s demand etc. I don’t leave money on the table. I take time off the table.

      1 reply 4 retweets 41 likes
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    5. Venkatesh Rao‏ @vgr Aug 15
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      The natural relationship to money is satisficing over a short averaging window, not maximizing over either short or long windows. Maximizing money is a pro sport for those who enjoy that intellectual challenge, not a meaningful thing for everybody.

      1 reply 4 retweets 29 likes
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    6. Venkatesh Rao‏ @vgr Aug 15
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      Of course there’s risk in the satisficing attitude. You never know what expensive emergencies will hit your life, or how much retirement will actually cost you, and whether you’re saving enough or not etc. But everything is risk management.

      1 reply 0 retweets 14 likes
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      Venkatesh Rao‏ @vgr Aug 15
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      Not taking enough time off the table today creates different kinds of risks (to health for instance, or even just to quality of existence, which for me involves a good deal of idle time, tv etc).

      3:27 PM - 15 Aug 2020
      • 12 Likes
      • Godfrey Miller Alexander Schneer Jake Hamby brooke bowman Julian Andrew Zip portalnyc Eric Breitenstein
      1 reply 0 retweets 12 likes
        1. New conversation
        2. Venkatesh Rao‏ @vgr Aug 15
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          And while I’d like to score FU$, and explore the full-leisure enmansioned life, that isn’t an overarching desperate goal. I enjoy work enough that I don’t mind devoting some time to it indefinitely. I am not working to stop working as many seem to be.

          1 reply 0 retweets 13 likes
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        3. Venkatesh Rao‏ @vgr Aug 15
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          I don’t think any kind of huge returns potential would get me working 100h/week. Only thing that can get me putting in that kind of intensity is actually enjoying the work OR avoiding serious risk of pain/destitution. Money is just not worth that kind of intense effort for me.

          2 replies 1 retweet 10 likes
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        4. Venkatesh Rao‏ @vgr Aug 15
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          Maximizing money returns on effort intensity only makes sense under 2 conditions: a) you enjoy the intellectual challenge b) you want to buy something specific within a specific time horizon that demands $X. Which is just uberrationality over a longer horizon.

          2 replies 1 retweet 12 likes
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        5. Venkatesh Rao‏ @vgr Aug 15
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          Of course many in the US who work to maximize money beyond what they have meaningful designs for, without enjoying the work, do so for some sort of vague social arrival/identity validation/class membership aspiration. Join the rich class. Some who make it even seem to enjoy it.

          1 reply 1 retweet 10 likes
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        6. Venkatesh Rao‏ @vgr Aug 15
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          Of course this is middle-class privilege talking. Your life has to be pretty shitty for marginal income of the 9th hour of work you don’t enjoy to beat value of day’s first leisure hour. If you’re working yourself out of an external or internal hellhole, max$ may be rational.

          2 replies 0 retweets 4 likes
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        7. Venkatesh Rao‏ @vgr Aug 15
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          Venkatesh Rao Retweeted Venkatesh Rao

          Related https://twitter.com/vgr/status/1158049104355704832?s=21 …https://twitter.com/vgr/status/1158049104355704832 …

          Venkatesh Rao added,

          Venkatesh Rao @vgr
          Been reflecting on wealth and success (in conventional sense, which may involve some combination of wealth, fame, accomplishment, historic impact, etc) lately. Both are things I am not personally very motivated by. But they are not things I have a problem with either.
          Show this thread
          4 replies 0 retweets 2 likes
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        8. End of conversation

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