money is not speech
My preferred answer for this: Money is indeed not speech. Money is press.
The First Amendment guarantees not only the freedom of speech, but also the freedom of the press. A printing-press was state-of-the-art communications equipment in 1792, used to print leaflets, newsletters, books, and so on. A press is a piece of expensive industrial capital. It requires consumables (ink, paper, grease, etc.) and trained labor to operate. In order to express your views (or someone else's) using the press, you need to spend money. Therefore, freedom of the press logically entails freedom to spend money on disseminating your views.
I'm not sure how seriously I should take the narrative about the anti-free speech situation in EU/UK. Every time I try to dig into one of these stories, it seems to land into one of 4 categories :
Now I don't doubt that there must be a few truly disturbing anecdotes - Chinese Robbers and all that - but if there is anything more, I can't see it.
It no longer surprises me when I see things like the same senator (here Ed Markey) opposing Jones Act repeal and also attacking Waymos.
Markey is also holding up reauthorization of SBIR grants because he's been getting a lot of campaign donations from SBIR mills (companies that just apply for grants instead of doing anything useful; politely called "multiple award winners") and the reauthorization would place caps on the number of grants that any one company can have at a time.
I have a hard time believing people at 90 years old are actually happier than they were at 50.
I presume there are selection effects. People who were unhappy at 50 were less likely to live to 90.
There really is a lot going on these days.
I held off posting this because I was trying to see if I could write a net helpful post about the current situation involving Anthropic and the Pentagon. Anthropic very much wants to help DoW defend our country and make us strong. It is clear there have been some large misunderstandings here about how LLMs work.
They are not ordinary tools like spreadsheets that automatically do whatever the user asks, nor would it be safe to make them so, nor do they predictably adhere to written rule sets or take instructions from their CEO in a crisis. And they are probabilistic. You do not and cannot get absolute guarantees.
The only way to know if an AI model will do what you need in a crisis is something you needed to be do regardless of potential refusals, and which is also what you must do with human soldiers, which is to run the simulations and mock battles and drills and tests that tell you if the model can do and is willing to do the job.
If there are irreconcilable differences and the military contract needs to end, that would be a shame and a lost opportunity, and hopefully both sides could help ensure a smooth transition, but that would ultimately be fine. OpenAI and Google are waiting as qualified alternative suppliers.
The far bigger issue is that we are now at risk of having the Pentagon designate Anthropic as a ‘supply chain risk,’ the primary effect of which would be to cause expensive and severe disruptions across the defense industry and at many large companies and impose nightmaring compliance requirements indefinitely. It would make us far less safe, would be a major norm violation, and would not address any actual supply chain risks. Everyone I have seen who has encountered this proposal and knew what it meant knew it would backfire on America horribly if implemented. No one wants that other than our enemies.
Alas, I am the wrong person to deliver a detailed message on this, for many reasons, so I will simply say the above for now, and then proceed to the monthly roundup.
Table of Contents
Bad News
Pete Buttigieg wants to change the constitution to strip corporations of personhood, and to say money is not speech, which are no good, very bad proposals in ways he most definitely understands. This most obviously is not going to happen, but to the extent he was still on it, this essentially takes him off the list of ‘people who won’t propose catastrophic policies.’
Hotels are getting rid of proper bathroom doors, with the new barriers often not even being fully opaque or all that soundproof. This is cost cutting gone utterly insane and it makes zero sense to me. I have never felt the urge to spend more for a four or five star hotel, but I’ll be damned if they try to say 1% of space by not having a bathroom door, seriously what the hell.
Not only should we not pass laws against ‘price gouging,’ Steven Godofsky is actually correct that we should make it mandatory to avoid empty store shelves, since stores will otherwise refuse to do it because of reputational risk. I mean, no, we shouldn’t actually force them, it’s not worth an intervention, but it’s funny to notice that the market failure actually runs the other way.
And yes, when there’s a two day storm the grocery stores will look like this:
I agree that panels tend to be low effort. On the other hand, that is a lot of the charm, you can rope me into a panel far easier than getting me to make a presentation. Mostly I agree that you want to be doing presentations and fireside chats instead, unless the panel is designed to get sponsorship money.
Government Working
Somehow I need to put this here, despite my extreme aversion to doing so:
I affirm my opposition to the American government straight up murdering people, and my call that people who commit straight up murders be convicted of murder, especially if there is video of them committing what is clearly a straight up murder, and I add a call that the government not actively seek to destroy evidence relevant to potential murder investigations.
This applies on the high seas. It also applies in American cities. I also affirm my commitment to a whole slew of basic civil rights, the right to a lawyer and due process of law, the right to not be indefinitely detained for no reason, the right to walk around without ‘your papers,’ your right to not get physically attacked or tortured including while in official custody, your right to freedom of speech and to film what is happening to you, the right to bear arms, and my opposition to those who violate them, and to those who knowingly fund and enable such violations.
I also oppose the government lying to the people, or attempting to smear murder victims, or engaging in witness intimidation, or forcibly cutting off access to such crime scenes, or trying to use such actions as a form of extortion or punishment of a particular area or its government. It also extends to creating conditions likely to lead to bad shootings that kill people even if they aren’t straight up murders, or attempts to lie about what happened and the nature of the victims, and to cover it all up.
I believe that government public communications lying to the public should (with notably rare and specified exceptions) be criminally illegal, and that our laws on this are inadequate and must be updated.
I leave the fact question of ‘how much of this happened or is happening’ to others.
Alex Tabarrok asks, [when] should you resign if you are part of an institution doing harm?
Often my view is that ‘don’t resign but do the right thing and take bold risks with zero regard to whether you are fired, since you almost quit on the margin anyway, and you make them either change or eventually fire you’ is usually superior to resigning if you can do it, the exception being if your resignation would send a super strong signal. It’s even reasonable to actively take a job with that intention.
But there are few who can do it, staying does tend to enable the harm that is happening, and resignation beats complicity.
One instinct is that if resignations would not be a way of exercising voice, as things are so far gone that no one would notice, then staying won’t give you voice either.
I also believe that we should not police the failure of a particular person in private life to speak up on a particular issue they are not directly involved with, basically ever, even if they are speaking up on other issues. Saying ‘you talked about bad thing [X] being bad but not about bad thing [Y]’ is a terrible anti-pattern, it goes nowhere good, and we have seen how out of control it can quickly get.
Saying you are going to cap credit card interest rates is popular. Actually doing so at a number like 10% would be terrible economics and also (once people see the results) unpopular. So yes, I do appreciate Trump’s strategy of saying he’ll do it (popular!) and then not doing it (also, relative to alternatives, popular!)
California remains in crisis over the proposed wealth tax. Mike Solana can be many things but also he talked to 21 billionaires, 20 of them are potentially impacted and all 20 have either already left or are preparing exit plans. None of them believe that this would end with billionaires, nor would it, nor does even the law as written stop there. Once the bell is rung, either you have to definitively unring the bell such that it can’t be rung again, or remaining in the state while holding substantial wealth, or running a business that could get you substantial wealth, is untenable.
The scariest part of this is that this flight is likely a victory for those proposing the tax. For many this was never about revenue. It was about hurting or driving away their enemies, and they have already accomplished this. We are all poorer for it, most of all California.
Meanwhile Paul Graham reports unions are proposing that San Francisco tax companies if their top ‘managerial’ earners get too much more money than their median worker. As he points out, there are various ways around the tax, and none of them are good for the city, nor would I add are they good for the union. Punishing companies for hiring workers does not seem like a good idea, but what do I know.
The free speech situation in Europe is even worse than you think writes Greg Lukianoff. I already mostly understood what he found, and in many cases I’ve actually seen worse, but yeah, it’s insanely bad.
As in, ‘if I lived in such places I would perhaps feel I had to flee’ levels of bad. Definitely ‘I could not do my job as a writer’ levels of bad.
I agree that the dynamic involves ‘group [X] is now in our circle of concern so we will censor statements that offend, belittle or endanger members of [X],’ but this seems like it obviously is not about that, because we didn’t used to do this for old groups [Y] that were already within our circle. Why is causing anxiety in someone else your legal problem? What’s going on is something distinct from ‘[X]s are people’ or ‘[X]s matter.’
There seem to be a lot of cases where [X]s can call for the death of all [Y]s and mean it and that’s legal, but a [Y] can’t make an [X] anxious without being arrested and get bigger penalties than for many serious violent offenders even when they’re caught. It also makes it very difficult to catch even widespread actual criminal activities if you cannot discuss them and the police won’t pursue them.
A UK judge warned jurors that if they acquit for the ‘wrong’ reasons they could face jail time themselves. If juries aren’t going to be a check on power then can we at least not waste people’s time or pretend that people still have rights?
The ‘President goes around threatening tariffs any time anyone is insufficiently accommodating’ problem continues. We do at least have Senator Lisa Murkowski calling on Congress to take back its constitutional authority on this.
I would say the ecologist is, in a narrow way, entirely correct. Given the existence of the law and the inability to alter that law, spending the hundred million is not a waste of money, if it is the only way to get the associated project built and the project is worth spending that extra money.
Thus, I’ll allow it, so long as you acknowledge that this is about the fact that we have an insane law, and has nothing to do with protecting the bats, since the value of protecting the bats is closer to a hundred pounds, and that the law should change.
In this case, given the bill is a full hundred million pounds, I would argue that is high enough that ‘change the law’ is indeed a valid and right action.
The ‘Working Families Tax Cut’ includes $93 billion in wealth transfers from the rest of us to seniors, as a $6,000 ‘bonus exemption.’ That is the opposite of working families. You can try to make excuses for the boomers, as Scott Alexander does at that link in Against Against Boomers, but this here is very clear outright boomer theft from the rest of us, using their stranglehold on the leadership of government, under the guide of ‘working families.’
There is a risk that this is radicalizing, and also that it opens the door for a, shall we say, ‘renegotiation.’ If the Boomer politicians and retirees think they can use the law to take our private property, what is their moral account for why they keep their own, especially when it takes the form of government benefits or tax exemptions?
There is also a partisan aspect of this move, but I find that far less interesting.
Australia’s social media ban for those under 16 extends to Substack. Which is especially a problem since Substack otherwise has no idea how old its users are, and also because this ban makes absolutely zero sense. This may not have been intentional, but until it is explicitly excluded, it’s a nightmare.
The Epstein Files
Mostly I am not the right person to talk about this. I am going to leave all the details about who did what to whom, or who covered what up, to others.
There is one thing I think hasn’t been said prominently that is worth saying, which is that I think this from Nikhil Pal Singh is on the right track but importantly wrong.
The less important reason this is wrong is that he was very much also selling the actual experience along with the feeling of impunity.
The more important reason this is wrong is that, as I understand these dynamics, he was often selling something more important than impunity. He sold kompromat.
That sounds backwards. Why would someone want Epstein to have the ability blackmail them? That’s the trap, that’s bad, right? You lure these rich and powerful people to the island, get them to do horrible things, and then you have power.
Because if you are now part of this conspiracy doing horrible things, and others that know about it have this leverage over you, then (as perverse and crazy as this is) that means, to types like this, that you can be trusted. You’ve proven you won’t care when others do maximally horrible things, and if you step out of line then they can ruin you, so obviously you won’t cause any trouble. You’re part of the team.
That also explains a bunch of other vile behaviors that seem to be emergently misaligned, designed to be maximally evil and vile rather than because anyone actually wants to do, see or experience a given thing. This is not an accident.
Everyone involved needs to be unmasked, investigated and prosecuted to the fullest extent of the law. If that would truly be so disruptive that our civilization would collapse, then there is a term for what must then be done instead: Truth and reconciliation.
RIP Scott Adams
RIP Scott Adams.
Scott Alexander offers reflections and then his standard highlights from the comments. I thought it was an excellent post, and if I do die I want the writeups to similarly include both the good and the bad.
I will add that:
News You Can’t Use But Click On Anyway
Are media organizations falling prey to the myopic revealed preferences of their core audiences at the expense of the long term? Musa al-Gharbi thinks so. It would make sense that they would end up too focused on today’s hit counts and on the squeakiest wheels, and neglect the long term impact on reputation and ability to provide value.
Yes, you can notice that users click on negative stories more, or those that confirm their biases and the rightness of the ingroup, or provide juicy sounding gossip, and so on.
But most people are running some sort of tracker in their in their heads about your reputation, whether your product provides value, and how they feel after using it. Long term damage accumulates.
We’re Putting Together A Team
Gretta Duleba gives advice on hiring a team. Her advice is: Don’t.
Not unless you absolutely have to. Even then, try really hard not to hire any particular person, or more than the bare minimum number of people, and only do it when they’re a great fit and you have a clear vision and a plan to integrate and teach everyone.
You Can’t Retire, I Quit
Or: It was that or dip into capital.
I understand the drive to become financially able to retire, to take all the pressure off, but yeah you can’t permanently check out of doing useful or interesting things at 41 and expect anyone to stick around, or for that to turn out well for you even in terms of hedonic enjoyment.
Loser is exactly correct here. A well deserved break is one thing. Arguing ‘there is nothing to do it is too cold’ is not going to work when the internet exists, you have a computer (and can even install Claude Code)? That’s another thing entirely, even if she wasn’t going out every day to teach.
Also, yeah, if you’re on drugs five days a week then you have a problem, period.
If she’s still working full time then no, this is not going to work. I do think you can absolutely say ‘I’ve worked hard for 15 years to get to this point and I need a few months fully off’ but it can’t be indefinite.
Jones Act Watch
This is the now-famous clip of Bad Bunny with captions explaining the Jones Act.
Colin Grabow shares the OSG talking points on how to promote the Jones Act. They recommend:
And they say you pound these lies over and over again.
Essentially, they see you with $100, they take $99 of them, and say ‘look I am responsible for you having a dollar.’
For the first time in a while a new ship has joined the Jones Act fleet.
The fact that they are bragging about the unusual act of building a third-class ship three years late at twice the planned already outrageous budget is all the evidence you need that the Jones Act and Dredge Act have utterly failed in their stated objectives.
It no longer surprises me when I see things like the same senator (here Ed Markey) opposing Jones Act repeal and also attacking Waymos.
Protectionism almost never works, but most of the time there is at least Something To Protect. The Jones Act is special in that it has already killed off almost all of the American shipbuilding industry and left us with almost no ships.
We are not a ‘serious nation that handles energy’ on the high seas. Quite the opposite, we are a nation that has banned the handling of energy on the high seas, on the level of ‘we ship our LNG to Europe and then import LNG back because we don’t have ships that can legally take that LNG from Houston to Boston.’
Even in those areas where the fleet of the United States ‘includes ships’ that can haul cargo, which really does not seem like something that we should be at risk of not having (yet here we are), it is vastly more expensive, and available in vastly smaller quantities, than it would be otherwise, or than in any comparable place anywhere in the world. It is madness.
It really is this simple:
Sal attempts to explain this away, and this explanation has to be seen:
So to summarize:
A lot of this is trying to say, oh, we have roads and trains and pipelines and airplanes, so who even needs ships? The rest (aside from #2 which is deeply silly, given the vast number of similar alternatives and that it’s irrelevant anyway) is ‘you didn’t give us enough money and subsidies, and didn’t extort or exploit our allies enough.’
And that all explains why we have approximately zero shipbuilding and zero ships, and we should keep having approximately zero ships to protect that approximately zero shipbuilding. It keeps us strong, you see.
Variously Effective Altruism
Coefficient giving renews its grant the GiveWell’s recommended charities, upping its commitment to $175 million for 2026. They expect a bigger growth in general grantmaking, since Good Ventures assets are up 50% in the last two years.
Scott Alexander provides various arguments against the ‘other people’s money’ argument against foreign aid, where people want all taxpayers to fit the bill rather than donating the money themselves. This is a classic free rider or coordination problem and most people are not libertarians, and also a lot of aid is about strategic national interests. Scott Alexander is very good at finding such arguments and exploring them at length and I think here he gets way too clever. There’s no mystery to explain.
I also think the large reference class of what Scott does here where he suggests labeling a box on your tax return ‘I request to cancel my participation in foreign aid this year and receive an $X tax refund. I understand this will result in Y amount of preventable death and suffering’ is rather obnoxious and toxic and if everyone in EA-related spaces stopped doing it that would help. Facts are very much not in evidence and oh boy do you piss people off when you talk like that.
They Took Our Jobs And Now I Can Relax
Note that this graph is only from 7.0 to 8.0, the moves are not that big.
It’s not as simple as not having responsibilities, but yes there is a substantial jump upon retirement, followed by declines as aging makes your body stop working, but the declines then are remarkably small. I have a hard time believing people at 90 years old are actually happier than they were at 50. Mostly it says happiness changes little.
While I Cannot Condone This
I recommend Bits About Money on fraud investigation. The central message is that fraud is a policy choice. We choose to stop being idiots and victims, although the optimal amount of fraud will remain not zero. We have various ‘get rid of most fraud’ switches and we choose not to press those switches. We have overwhelming amounts of Bayesian evidence we can use to identify or evaluate potential frauds, including that the same people keep committing the frauds over and over, they follow many basic patterns and use the same supply chains, and that most frauds collapse if you do basic probing for internal consistency. In contrast to our very expensive current required mechanisms like AML and KYC that do relatively little, these alternative methods would have trivial costs compared to the fraud prevented.
Peter Thiel claims all trends are overrated, which one files under the category ‘all generalizations are wrong.’ What he’s actually saying, as is often the case when Thiel says something superficially crazy, is something smarter. He’s saying that if someone claims their business is part of a trend and tries to use a bunch of buzzwords, rather than telling you what makes them unique, then nothing makes them unique, so run.
I essentially agree that it is very hard to sustain a ‘middle path’ for Jewishness, and I would extend this to other similar cultures or religions. You either go fully secular and assimilate, or you heavily invest in staying distinct, which involves a lot of time and focus. The full version is sustainable across generations, and the middle path essentially isn’t, so the kids have to pick a side.
Some are creating ‘analog rooms’ where no screens are allowed. File this under ‘things that seem cool for those who have substantially more space than I do.’
Tyler Cowen podcast with Frank Fukuyama, full of disagreement.
Good News, Everyone
SpaceX pivots from saying they are focusing on a city on Mars to saying they are focusing on a city on The Moon, which is a much more realistic goal. Wise, regardless of the level of seriousness about either of them. Investors are presumably valuing it at $1.25 trillion for entirely distinct reasons.
Department of Energy proposes a categorical NEPA exclusion for advanced nuclear reactors. Let’s go.
IFP proposes the Freedom Act to create permitting certainty and prevent politicians from shutting down project types they disfavor.
Maxwell Tabarrok offers brief thoughts on Christopher Alexander’s The Timeless Way of Building. I am sad that the Architecture sequence got lost to time due to conflicts with writing about AI. I think Alexander was spectacularly right remarkably often on both details and principles, although he got a lot systematically worse when he dealt with macro questions rather than micro and tried to hang on to wrong or obsolete impressions of how to organize an economy or wider area, or lets his collectivist streak interfere. But his micro observations are scary good.
If I had to point to one key insight, it is that our lives are largely made up of repeating particular patterns, and what is around drives you towards particular action choices, so instead of thinking generically you should engineer spaces around making the patterns you want to happen happen more often, in the most positive ways.
Despite the associated tax incentives, rich people mostly don’t borrow money against unrealized gains, that is under 2% of their economic income, whereas the unrealized gains are 29%-40% depending on how you count. The loophole should still be closed, but in practice it does not matter much.
Use Your One Time
You or your accountant can say the magic words ‘first time penalty abatement’ to the IRS and probably get a penalty waived, but you have to say the words first. If you do it then you can’t do it again for three years, so you don’t want to do it if the penalty is small relative to potential future or other penalties. but in most cases you should have odds.
Hands Off My Phone
Remember that the 5th amendment protects your passwords but not your fingerprints.
So as a good principle, if it is plausible the US Government would try to get into your phone, and you wouldn’t want them to do that, don’t enable fingerprint unlock.
Fun Theory
Let’s face it. Church and synagogue and other religious services are usually boring.
Doing the same exact thing week after week (modulo the sermon) is a tough ask, and it’s a much tougher ask now that we all have options.
A bunch of people point out that services are not supposed to be fun. I agree, but fun is not the opposite of boredom. If the service was actually moving you, if you cared about what you were saying, it wouldn’t be boring.
Then you miss out on all the other benefits of having a shared community and ethical system, regardless of what you think of the religious beliefs themselves.
I also saw people complaining about how church used to last an hour and now it is often ninety minutes. Can’t have that. Gotta keep it short and make it count.
Good Advice
Remember to reverse any advice you hear, but especially reverse the lies. Cate Hall highlights ‘the lies I used to tell myself’ and I can confirm they are indeed lies.
The full description is worthwhile, but the list is:
There’s some truth in all of them, and there’s a time and a place where each will be the right thing to say in the particular moment, but all eight are also importantly false.
The full negation of all eight would each also be false.
Cate also links to this ‘54 things’ list of claims by Mario Gabriele. She found herself mostly nodding along except for #33. I found it much more of a mixed bag. My instinct is that it is useful to skeptically think about such lists and ask where you do and don’t agree and why, and what the list overall says about the person and thus about the items on the list. Mario also links to several other lifehack lists: Alexey Guzey’s tells you a lot about him, Laura Deming gives us 10 mental models from 2020 that illustrates a very different focus, Nat Friedman presents a mode that you want to be able to visit, maybe quite often, but I wouldn’t want to always live there.
For Your Entertainment
As others have proposed before, what about choosing movies via swiping and then listing which movies everyone agreed upon? This doesn’t optimize because degree of preference matters, but it captures 80%+ of the requirement that everyone be down. I think you want to risk making this a little more complex and having more than 2 choices (e.g. swipe up and down as well for ‘hell yes’ and ‘hell no’ and a ‘hell yes’ cancels out a soft no if someone isn’t abusing it).
Film revenue has fallen dramatically and streaming as the new DVD or VHS is not making up for that much, although we’re seeing a recovery as streaming continues to grow and perhaps the worst is over.
As I’ve seen a lot more movies both at home and in the theater, I grow increasingly confident people underestimate theaters. Use the big screen, Luke.
Matt Damon explains that Netflix movies have to reiterate the plot 3-4 times because people are on their phones and their action movies need set pieces in the first 5 minutes.
Film students have such terrible attention spans, and so little interest in actual films, that it is increasingly impossible to get them to see a film at all, and good luck getting them to stay off their phones and pay attention. I did not realize how bad things had gotten. What I find most confusing is that these are film students, who want to study film and make film, and they still can’t do it. I do sympathize with the complaint that old movies can be painfully slow, but when a film student literally can’t name a film they watched recently, have only watched Disney films, or can’t sit through a showing, maybe go do something else?
Professors are split as to whether to accept this, or try to help students fix it. I strongly endorse the later strategy.
A common theme of movies set in either authoritarian regimes, or in the past, is that living under authoritarian regimes or in the past kind of really sucked a lot. As Matthew Yglesias points out, everyone everywhere has problems but you’d much rather have liberal democracy problems of family drama and anxiety in the style of Sentimental Value, in a modern liberal democracy, than you would have the problems of Hamnet where your children can’t get medical care (and you can’t communicate with your spouse easily when you have to live apart) or in Secret Agent when you’re in an authoritarian regime.
A very strong endorsement of the memoirs of U.S. Grant, and here’s a great anecdote.
Plur1bus
To not be left behind, I watched the first season of Plur1bus. It is intentionally extremely slow, including an entire first half hour or so that I would have cut outright. If this wasn’t by Vince Gilligan and something people talk about, I don’t think I make it out of episode one. I’m mildly glad I stuck it out.
As others have noted, it cares more about particular characters than its overarching plot. I was disappointed that they did what media often does now, which is take a potentially interesting philosophical or moral question, and then give one side an increasing set of reasons why ‘oh obviously they’re wrong.’ A recent example that isn’t much of a spoiler would be in the new Superman movie.
Indeed, not only have I ‘seen this movie before’ several times, as Carol puts it (upcoming link url itself is a potential spoiler in both directions so if you don’t want to know don’t look), I’ve seen this show before in quite some detail, including remarkably similar catches to tip the scales. Who did it better (so far) depends which aspects you care about.
Gamers Gonna Game Game Game Game Game
Kalshi partners with Lodge Card Club to offer live betting on the outcome of streamed poker events.
They’re also running some rather vile social advertising, of the type usually reserved for scams, in ways DraftKings and FanDuel did not stoop to. Please, stop doing this.
Polymarket user creates a new account to bet on the Super Bowl halftime show, turns out to (presumably) be an insider given he won every bet.
Fond memories of Civilization I. I tried to introduce it to my son because it is very discrete and has lots of cool things in it, as an introduction, but it ended up too confusing and requiring too much investment into knowledge
RIP Kai Budde. We’ll miss you, buddy. He was an amazing friend, teammate and coworker. Always in good spirits to the end. With him, knowing he’s just better than you didn’t sting. We’ve known this one was coming for a while and it still stings. A lot.
Gaming is good for you.
Someone refusing to lie within a context that explicitly permits lying, such as games like Among Us or Diplomacy, is in my experience strong evidence that the person has a strong aversion to lying. The same goes for other simulated negative actions. As with many such heuristics, this would fall apart if there was reason for someone to actively fake this attribute, but you can usually rule that out and it almost never happens.
I’ve been playing through the Dragon Quest 2D-HD remakes. First up was Dragon Quest 3, now I’m on Dragon Quest 1, as this is the explicitly intended order.
My feeling on Dragon Quest 3 was that it was a fun game as a remake, but it had a few key flaws.
For Dragon Quest 1, I’m not done yet, but I think it extends those mistakes and is largely a failure, because it loses the elegance of the original and tries to shoehorn in a lot of extra spells and extra story that I feel don’t add anything. I get that the original was basically one long grind, but that’s kind of the point. Also, you spend a lot of time during which healing during battles de facto doesn’t work, which means you just have to unleash and hope you don’t die.
But mostly the game destroys the key tensions in the original Dragon Quest 1, which is that if you push harder you might die and have to go back to the castle and lose half your gold, and also you need to map and figure things out. I’m still going to finish, but it’s kind of out of a sense of honor or obligation than that I’m having that much fun.
Liv Boeree is correct.
Sports Go Sports
Successful soccer players tend to have many exceptional cognitive skills.
Discussion of the economics of the NBA trading deadline, as teams respond to their incentives and find loopholes in the rules. They need to hire some of us gamers to design better rules, especially around preventing tanking but also in other ways.
Then there’s tanking, where we all are talking price. Everyone agrees that NBA teams that can no longer compete are under no obligation to maximize their chances of winning more games. But how far should we let them go to lose as many as possible?
What is ethical versus unethical tanking?
Mark Cuban has an excellent discussion of tanking and also roster design here, and an argument that the NBA should embrace tanking because it enhances rather than detracts from the fan experience.
One thing he points out is the dumb fact that you then have to lie to everyone and say you’re not tanking.
Derek Thompson points out that if landing the Next Top Player is ‘way way way more important’ than winning games today, because the players are generational, and there are tons of games that mostly only give you playoff seeding. So as long as losing sometimes gets you those players, tanking is inevitable. He contrasts with the NFL where individual players are less valuable (less than he makes it out, yes Sam Darnold won the Super Bowl convincingly but it turns out he’s actually Good At Job and the QB is like a quarter of your team, and NFL teams ‘should’ tank way more, but yes).
I see six schools of thought about ethical tanking.
We can all agree that a player actively trying to lose the game is not acceptable, although if they decide to try a new play or be selfish with their stats, well, okay then.
I can see an argument for all six positions. I think for now the answer should basically be #6, if the fans cheer when you tank then the NBA is the one with the problem.
Ultimately the current lottery is half measure. I see a few different ways out of this, shortening the season would help a lot, but fundamentally you need to make it so that teams want to win the game. I see basically two ways to do that.
Method one is financial incentives. Put a financial value on each game. You can buy those top picks if you want, but they will not come cheap. Claude estimates that $3 million per game would mostly do the trick, and you’d have to adjust the luxury tax rate for obvious reasons. But, man, that’s good TV.
The other solution is to take away the incentive to tank entirely. Bite the bullet. All non-playoff teams pick in a fully random order, or something else drastic. You could get creative, and have a loser’s playoff or late season reversed incentive for the top pick in some fashion. Have fun with it.
You could also simply accept that tanking is fine, actually, and let it be in the open.
The Revolution of Retroactive Rising Expectations
There’s plenty of answers on why the financial side of things did get harder, I discuss this in The Revolution of Rising Expectations, but a lot of it simply that people are wrong about how things used to be.
Jordan McGills argues that what is driving the middle class feeling poor is that there are too many upper middle class people. He calls this ‘the great decomposition,’ saying the gap between 50th percentile and 80th percentile in particular has risen and bites hard.
I Was Promised Spying Cars
If [X] inevitably leads to [Y] in practice, then you can either choose [~X] or [Y].
Yeah, you can’t do that. You can’t have cars that are fine in Quebec and then not legal to drive into Ottawa. You have to pick a side.
That’s the same as you can’t say ‘oh we will build AI that can do [bad thing] we just won’t use it for [bad thing]’ whether that’s autonomous killer robots or deepfakes or whatever else you happen not to like. Doesn’t work that way, especially given open models. You mostly either build it or you don’t.
Prediction Market Madness
Unusual Whales has launched a tool to scour Polymarket for unusual activity and suspected insider bets. Joe Weisenthal predicts this will be a gold mine for spoofing, as in people make trades to pretend to be insiders. My guess is that there will be a lot less spoofing than the equilibrium would suggest, because people don’t do things, and no one will expect in their gut that it will work.
But yes, it will happen eventually. It is cheap to try this, and the gains can be very large, either in the form of ‘I trick people into following and then trade against them’ or ‘I trick people into trading on that basis elsewhere for orders of magnitude more money and I trade against them there’ or even ‘I convince people that [X] is going to happen, and this changes events.’
It will be very funny. The way there wouldn’t be spoofing is if there is already enough ‘natural spoofing,’ as in people who look like insiders but do stupid things for dumb reasons, to make insider bets not trustworthy. But so far we’ve seen that insider bet signals are, while not reliable, actually pretty good.
Vitalik Buterin is worried about the state of prediction markets, as they converge mostly on short term dopamine-heavy bets like sports and crypto.
He points out you need someone to lose money, which means one of three ultimate sources:
I would add:
These are extreme descriptions:
Nut basically yes. Either you have traders who get beat, who are hedging, or who are subsidizing the market, or who are manipulating prices or themselves.
I think it is inevitable that the bulk of the volume will be where there is the best product-market fit, and it will be on places where the information is not so socially valuable, like sports and crypto, over short time horizons.
I also think this is fine, as it serves several purposes.
As in, at equilibrium, Polymarket and others should be creating some markets that are money-losing but that function as brand building and advertising. Polymarket should want to be the front page of the information system, where you get the ‘real news.’
On method of subsidy, the advantage of AMMs is that they are predictable, easy to implement and come with various nice assurances. The problem with AMMs is that most of the subsidy often ends up wasted, because you get run over, and make dumb trades, and don’t get the capture much of the benefits of two-way volume. The AMM is a deeply dumb trader. You can and should do better by doing something smart, that can fall back in a pinch on something dumb.
The Lighter Side
Well played.
I find it annoying to have to tell people this, and yes, you can trust BLS data.
She’s real, and she’s actual size.
I do respect, as Dan McLaughlin describes it, the instant classics.
This is a case of the ‘no wife, no horse, no mustache’ principle where you actively don’t want to know what the original tweet was, the mystery will always be better.
Yes, that picture is AI. No, I don’t care.
I don’t think my wife would fall into this one, but there’s one way to find out.
Times when the apology only makes it better:
The way things work: