@binance As decentralized AI and real-world asset (RWA) tokenization gain traction, how is Binance leveraging AI-driven analytics and blockchain technology to enhance trading efficiency and support innovative asset classes ? #AskBinance
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Paying people to dig holes and fill them back up increases GDP, as it is currently measured, even though that activity has no value.
Similarly, hiring an extreme number of regulators to vex entrepreneurs nominally increases GDP in the short term, even though it reduces output in the long term.
The flaw of Keynesianism is to see all government spending as “stimulus” even when it’s value destroying.
Elon Musk@elonmusk
A more accurate measure of GDP would exclude government spending. Otherwise, you can scale GDP artificially high by spending money on things that don’t make people’s lives better. For example, you could shift everyone who is building cars to working at the DMV. That would result in no cars and a much worse standard of living, but GDP would appear to be the same!
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We're announcing TacticAI: an AI assistant capable of offering insights to football experts on corner kicks. ⚽
Developed with @LFC, it can help teams sample alternative player setups to evaluate possible outcomes, and achieves state-of-the-art results. 🧵 dpmd.ai/49PGq1b
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Imagine you own 1% of Apple.
What this means, in its most basic sense, is that by putting up 1% of the capital, you own 1% of all of their current and future profits. That is a fair exchange and it’s well understood.
But if instead, after your money was invested, their goals changed and you didn’t own 1% of their maximum profits any more but rather 1% of some lesser profit (or, even worse, no profit at all) along with a 1% share of Apple’s efforts on student debt reform or the Russia-Ukraine war, you may be confused and think this wasn’t what you signed up for.
Replace Apple with Target, and student debt reform/Russia-Ukraine with Gay Pride Month and the customer and shareholder reaction from Target is below.
Target’s billions of revenue loss and market cap losses add to the tens of billions of dollars already lost by Disney and Bud because of a similar market and customer reaction.
Why is this happening? Do customers and shareholders not care about social issues?
The message being delivered by customers and shareholders to public companies seems to be that they do not want companies to take social positions. They want companies to exist to maximize value for customers and maximize profits for shareholders.
So who is pushing for companies to take positions on politics and social issues if not customers and shareholders? Employees?
A non obvious conclusion that these customers and shareholders may see and companies and employees may not yet is that other organizational models exist (foundations, non-profits, B-corps) to take more effective stands on political and social issues than a C-corp.
And if a company can maximize their enterprise value, it can also enrich employees who can then funnel more of their money than they could otherwise into these causes as they saw fit.
A separate implication of this is that customers and shareholders seem to not want companies to be Swiss Army knives and do everything. They want specialists who are very good at one thing.
Boards and CEOs are probably formulating their all company emails now…
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7 graphs that will challenge your intuition:
1. The Relative Value of Higher Education
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If you’re having trouble understanding the Banking System, watch this 🏦
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With the possible exception of Microsoft in the late 90s, there has never been a tech monopoly as powerful as Apple. Its power is so feared that few application companies will dare to criticize Apple publicly even though almost all privately voice similar concerns as @elonmusk.
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California: You need a gas generator to charge your $120K electric super car because the grid is overloaded 🤡
You gotta love the irony.
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15 Deep Philosophy Quotes Of “Leo Tolstoy"
| Thread
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You can learn so much about startups, entrepreneurship, investing, marketing, sales, and more on Twitter.
Basically a free $1,000,000 MBA.
Here's 28 accounts to follow:
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Celsius is one of the largest centralized gateways to crypto.
It raised $864m of venture capital and at one point custodied over $3 billion of funds for 1m+ customers.
As of today, it appears insolvent, and it's taking the whole crypto market with it.
The Celsius Thread:
👇
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Uber using data to predict how long your car will need is called Machine Learning
Uber telling you it’s 3 minutes so you don’t cancel the arriving ride for the next 10 minutes should be called Machine Lying.
🤷♀️
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Sequoia Capital released a 52-page presentation warning founders of a 'crucible moment' and a 'longer recovery' ahead.
Here are the 10 key takeaways every business owner must know:
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Sick of people calling everything in crypto a Ponzi scheme. Some crypto projects are pump and dump schemes, while others are pyramid schemes. Others are just standard issue fraud. Others are just middlemen skimming of the top. Stop glossing over the diversity in the industry.
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"In the end, you win through superior craftsmanship, not marketing." Robert Greene
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