The Price of Tomorrow
Populism explodes in an unjust system, driving the have-nots to resent and rise against the haves.
Buying assets/going into debt in an inflationary system will benefit you over time as your wage rises, nominal values of assets increase, and real values of debts decrease.
With inflation, holders of assets win. With deflation, holders of currencies win.
High debt and deflation are a deadly combination as debts grow in value and lead to widespread defaults.
There are four components that make up GDP:
- Consumer spending or personal consumption
- Investments
- Net exports
- Government spending
Mathematically, the world’s trade balance must equal 0 as every buyer needs a proportionate seller.
Utilizing network effects where growth and value are a product of every single individual added to a platform/service (i.e. the telephone) is the best way to achieve exponential growth.
Google gives us the illusion of choice, but results on the first page are ostensibly all the choices we have.
The anchoring effect is when our mind puts too much weight on initial information when making decisions. All subsequent judgments are then made in relation to this anchor.
The sunk-cost-bias is when you continue to put time and energy into something because of the time and emotion you’ve already put into it.
The more emotional a story is, the stickier it is.
Conceptualizing exponential growth is unfortunately not all that intuitive. Failing to account for even one final doubling can lead us to vastly underestimate exponential growth.
If you could fold a piece of paper 50 times, it would stretch from the earth to the sun. If you added a piece of rice to the first square of a chessboard and doubled it with each subsequent square, you would end up with over 18 quadrillion grains of rice.
95% of the time cars are left idle and unused. Autonomous driving, however, can dramatically increase the utilization of cars and provide income to car owners through ride-sharing of their vehicles when not in use.
Error correction is the basis of all intelligence.
The human mind just can’t compete with the memory and processing power of AI. Not only can they remember every mistake and data point, but they can process at speeds and durations humans could never dream of accomplishing.
If every job is a function of intelligence and computers beat us at intelligence, how could any job be safe?
Watch your thoughts, they become words; watch your words, they become actions; watch your actions, they become habits; watch your habits, they become character; watch your character, for it becomes your destiny.
Game theory dynamics around the globe, such as military spending, force nations to act according to what other nations do or might do rather than out of pure self-interest. Everyone cooperates or betrays based on the incentives.
Technological deflation may remove jobs, but it also means fewer jobs are needed and everybody benefits from falling prices.
Our lives are defined by the positive impact we have on others.