Archive

Finance is not about Money

I think one first step is to dis­tin­guish between tra­di­tion­al bank­ing, which sells mon­ey it has (or it can bor­row very quick­ly, what­ev­er) and finance, which sells some­thing it does not have. And in that sell­ing what it does not have lies its cre­ativ­i­ty. It has to invent instru­ments. And secondly—and they go together—it has to invade oth­er sec­tors. Because it itself does not have what it needs to pro­duce.

Don’t Be Human

With Twitter bots and a lot of AI in pop sci­ence, it’s kind of like stay­ing up late with your par­ents. Once you ask to be treat­ed like a human being, you have to abide by a dif­fer­ent set of rules. You have to be extra good. And the sec­ond you mis­be­have, you get sent to bed. Because you didn’t play by the rules that you were agree­ing to be judged by.

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