From the @January6thCmte letter to Ivanka Trump just released. Some of this is brand new information:
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I’ve hesitated to use the term “treason,” but @JoeNBC is using it exactly as the Constitution defines it in Article III, Clause 1:
“Treason against the United States, shall consist only in levying War against them . . .”
The insurrection levied War against the United States.
“Treason against the United States, shall consist only in levying War against them . . .”
The insurrection levied War against the United States.
.@joenbc: "It's treason. Donald Trump committed treason against the United States of America. And if you're wondering what January 6th is about, it's about treason." https://t.co/TzRxk1QtZw pic.twitter.com/YDhVApBaZp
— MSNBC (@MSNBC) July 12, 2022
So 25% of Wharton students believe the average American earns more than $100,000 per year. Normally, I'd chuckle at how "stupid" these youngsters are. These days, I despair at the level of entitlement they display. If knowledge is power, America is really freaking weak, y'all.
I asked Wharton students what they thought the average American worker makes per year and 25% of them thought it was over six figures. One of them thought it was $800k. Really not sure what to make of this (The real number is $45k)
— Nina Strohminger (@NinaStrohminger) January 20, 2022
I asked Wharton students what they thought the average American worker makes per year and 25% of them thought it was over six figures. One of them thought it was $800k. Really not sure what to make of this (The real number is $45k)
Oh good, I went viral
A lot of people want to conclude that this says something special about Wharton students— I’m not sure it does. People are notoriously bad at making this kind of estimate, thinking the gap between rich and poor is smaller than it is.
This was indeed why I asked bschool students: I was curious if they were as biased as everyone else. Further reading: https://t.co/OrvHCbdJO7 and
Oh good, I went viral
A lot of people want to conclude that this says something special about Wharton students— I’m not sure it does. People are notoriously bad at making this kind of estimate, thinking the gap between rich and poor is smaller than it is.
This was indeed why I asked bschool students: I was curious if they were as biased as everyone else. Further reading: https://t.co/OrvHCbdJO7 and
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.