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zeynep's profile
zeynep tufekci
zeynep tufekci
zeynep tufekci
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@zeynep

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zeynep tufekciVerified account

@zeynep

Complex systems, wicked problems. Society, technology, science and more. @UNC professor. @NYTimes columnist. My newsletter is @insight: http://www.theinsight.org 

floating in a most peculiar way
theinsight.org
Joined August 2009

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    zeynep tufekci‏Verified account @zeynep 19 May 2019

    Amazing @nytimes investigation (a database of *every* NYC taxi medallion sale since 1995) shows how it's always the same story. Asset bubbles fueled by concentrated wealth turn into predatory lending. Financiers make money, the poor left holding the bag. https://www.nytimes.com/2019/05/19/nyregion/nyc-taxis-medallions-suicides.html …

    10:56 AM - 19 May 2019
    • 107 Retweets
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    6 replies 107 retweets 226 likes
      1. zeynep tufekci‏Verified account @zeynep 19 May 2019

        zeynep tufekci Retweeted Michael Wooldridge

        Another side of the same coin. Too much money in too few hands flowing without accountability or any market discipline. Nonsense easily turns into grift.https://twitter.com/wooldridgemike/status/1130168202581958657 …

        zeynep tufekci added,

        Michael Wooldridge @wooldridgemike
        ‘Once we build a generally intelligent system ... we will ask it to figure out a way to make an investment return.’ Extreme case of AGI hocus pocus here... https://techcrunch.com/2019/05/18/sam-altmans-leap-of-faith/ …
        0 replies 8 retweets 38 likes
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      1. Angelos‏ @artifrex 19 May 2019
        Replying to @zeynep @nytimes

        and then came UBER ...

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      1. Jeff Frick‏ @JeffFrick 19 May 2019
        Replying to @zeynep @nytimes

        Never changes, always the golden rule. Those with the Gold, make the Rules.

        0 replies 0 retweets 1 like
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      2. 司徒‏ @szetoinsitu 19 May 2019
        Replying to @zeynep @nytimes

        And here I thought the market was merely skewed by medallion scarcity... /sigh

        1 reply 0 retweets 0 likes
      3. 司徒‏ @szetoinsitu 19 May 2019
        Replying to @szetoinsitu @zeynep @nytimes

        This reminds me of the part of The Jungle where the Rudkus family realize they've only been paying interest while the debt continued to compound with abandon, until...boom

        1 reply 0 retweets 0 likes
      4. Show replies
      1. Matt Maggio‏ @MaggioMatt 19 May 2019
        Replying to @zeynep @ewong @nytimes

        Ditto #stocks. Hasn't that been similar bubble - soaring prices in recent years, while good-wage jobs largely vanished and keep on vanishing? Aren't stocks pure gambling - and an obvious bubble now?

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      2. El Mosquito‏ @elmosquito12631 4 Aug 2019
        Replying to @zeynep @nytimes

        Infuriating, and like housing meltdown both sides are conning each other and playing musical chairs until the cards collapse. Seriously, guy with reported income of $22K in NYC has somehow stashed $100K down towards $800K+ loan he’ll pay off in THREE years?!

        1 reply 0 retweets 0 likes
      3. El Mosquito‏ @elmosquito12631 4 Aug 2019
        Replying to @elmosquito12631 @zeynep @nytimes

        The NY Times reporting on this has been phenomenal. But we have to stop making excuses for people on both sides of what truly was a scam. No one forces you to sign your name to something to good to be true.

        1 reply 0 retweets 0 likes
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