Musk, Sacks, Thiel, Joe Lonsdale, Palmer Lucky, JD Vance... all Silicon Valley tech bros, all influential members of the Trump team. Isn't this election the ultimate triumph of US tech? Isn't this the crowning glory of regulatory capture by US tech over US governance? What interest do these tech guys have in rebalancing share of GDP back to labour from capital? Surely zero?
And separately, per your piece, if the pro-labour 'community' promotes a viral/profitable MAG7 business model, and this MAG7 business model keeps increasing the % share of GDP to capital, then for pro-labour policies to actually be implemented, doesn't the working man need to one day realise he has to abandon facebook, apple, amazon, google and probably even Twitter/X and stop subsidising it?
I'm seeing a different transition. I would say the digital, deflationary, woke and narrative based world is the world we have been living on for the past 20 years and we're going to a more physical, inflationary, conservative and reality based one. We're seeing it in the two wars currently playing out, both Israel and Russia are losing the media narrative war but winning the physical war and this is what actually matters. Trump is just more fit for President than Kamala especially in this global environment and in my mind this is what people voted for.
I agree with most of this, but goddamn if it doesn't depress me, & fear for the next generation. Ironically feels like going back to the Dark Ages, where the serfs believe what the Church (Social Media) tells them, and truth is less relevant.
Very weak piece, as weak as the pre-election one calling for Kamala outperformance and Walz a good VP candidate (seriously wtf was that?). Trump did not win because of his "mastery of social media" (even though he clearly has it), if anything he won despite almost all of silicon valley and MSM being against him and incessantly pumping Kamala (and Biden before her). Rather he won because there is a limit of how much the populace is prepared to accept the bs served by the MSM and political class and ignore their own lying eyes. I had no doubt he would win the real vote, but at this point I had a creeping doubt in the integrity of US elections. Good on them that it still works!
The one thing I'm sure about is that you can't eat in a(n only) digital world. In any case, you have just put down in words what a bubble really is: collective delusion.
I add that the financial stability of this fantastic and futuristic digital world rests on very mundane things: large fiscal deficits, ample reserves regime, stock options and stock buybacks, aggressive (if not outright fraudolent) accounting practices. It seems to me that John Law could be considered the godfather of this system.
Musk, Sacks, Thiel, Joe Lonsdale, Palmer Lucky, JD Vance... all Silicon Valley tech bros, all influential members of the Trump team. Isn't this election the ultimate triumph of US tech? Isn't this the crowning glory of regulatory capture by US tech over US governance? What interest do these tech guys have in rebalancing share of GDP back to labour from capital? Surely zero?
And separately, per your piece, if the pro-labour 'community' promotes a viral/profitable MAG7 business model, and this MAG7 business model keeps increasing the % share of GDP to capital, then for pro-labour policies to actually be implemented, doesn't the working man need to one day realise he has to abandon facebook, apple, amazon, google and probably even Twitter/X and stop subsidising it?
Capitulation on tech top?
I'm seeing a different transition. I would say the digital, deflationary, woke and narrative based world is the world we have been living on for the past 20 years and we're going to a more physical, inflationary, conservative and reality based one. We're seeing it in the two wars currently playing out, both Israel and Russia are losing the media narrative war but winning the physical war and this is what actually matters. Trump is just more fit for President than Kamala especially in this global environment and in my mind this is what people voted for.
I agree with most of this, but goddamn if it doesn't depress me, & fear for the next generation. Ironically feels like going back to the Dark Ages, where the serfs believe what the Church (Social Media) tells them, and truth is less relevant.
I'm not getting into this. You're totally clueless and sound like the MSM. Serial womanizer my ass.
Very weak piece, as weak as the pre-election one calling for Kamala outperformance and Walz a good VP candidate (seriously wtf was that?). Trump did not win because of his "mastery of social media" (even though he clearly has it), if anything he won despite almost all of silicon valley and MSM being against him and incessantly pumping Kamala (and Biden before her). Rather he won because there is a limit of how much the populace is prepared to accept the bs served by the MSM and political class and ignore their own lying eyes. I had no doubt he would win the real vote, but at this point I had a creeping doubt in the integrity of US elections. Good on them that it still works!
Thank you. I followed up on the link and went down a rabbit hole. Interesting.
Rumpelstiltskin-ish.
Good pod. Thank you.
The one thing I'm sure about is that you can't eat in a(n only) digital world. In any case, you have just put down in words what a bubble really is: collective delusion.
I add that the financial stability of this fantastic and futuristic digital world rests on very mundane things: large fiscal deficits, ample reserves regime, stock options and stock buybacks, aggressive (if not outright fraudolent) accounting practices. It seems to me that John Law could be considered the godfather of this system.
Intersection of social media and fund management is a theme of Max Wiethe’s podcast: https://youtu.be/GxfO5PTtQ54?si=mFQZYTPOaNgHjxcq