Economics

The Richest People in the World

The vast majority of billionaires in the world got richer during the year of the pandemic — fantastically richer. And they still demand more!

Inequality grows and grows, warping both capitalism and government, and yet still the plutocrats press their advantage further while whining about their invented delusional oppression.

Certainly not all rich people are gigantic assholes, but a depressing many of them are. We can hang onto the good ones while tossing the others out of the Titanic lifeboats where their rugged masculinity can carry them to shore.

see also:

NameNet WorthWealth SourceIndustry
Jeff Bezos$177 BAmazonTechnology
Elon Musk$151 BTesla, SpaceXTechnology
Bernard Arnault & family$150 BLVMHFashion & Retail
Bill Gates$124 BMicrosoftTechnology
Mark Zuckerberg$97 BFacebookTechnology
Warren Buffett$96 BBerkshire HathawayFinance & Investments
Larry Ellison$93 BsoftwareTechnology
Larry Page$91.5 BGoogleTechnology
Sergey Brin$89 BGoogleTechnology
Mukesh Ambani$84.5 BdiversifiedDiversified
Amancio Ortega$77 BZaraFashion & Retail
Francoise Bettencourt Meyers & family$73.6 BL'OrΓ©alFashion & Retail
Zhong Shanshan$68.9 Bbeverages, pharmaceuticalsFood & Beverage
Steve Ballmer$68.7 BMicrosoftTechnology
Ma Huateng$65.8 Binternet mediaTechnology
Carlos Slim Helu & family$62.8 BtelecomTelecom
Alice Walton$61.8 BWalmartFashion & Retail
Jim Walton$60.2 BWalmartFashion & Retail
Rob Walton$59.5 BWalmartFashion & Retail
Michael Bloomberg$59 BBloomberg LPMedia & Entertainment
Colin Zheng Huang$55.3 Be-commerceTechnology
MacKenzie Scott$53 BAmazonTechnology
Daniel Gilbert$51.9 BQuicken LoansFinance & Investments
Gautam Adani & family$50.5 Binfrastructure, commoditiesDiversified
Phil Knight & family$49.9 BNikeFashion & Retail
Jack Ma$48.4 Be-commerceTechnology
Charles Koch$46.4 BKoch IndustriesOil & Gas
Julia Koch & family$46.4 BKoch IndustriesOil & Gas
Masayoshi Son$45.4 Binternet, telecomTechnology
Michael Dell$45.1 BDell computersTechnology
Tadashi Yanai & family$44.1 Bfashion retailFashion & Retail
François Pinault & family$42.3 Bluxury goodsFashion & Retail
David Thomson & family$41.8 BmediaMedia & Entertainment
Beate Heister & Karl Albrecht Jr.$39.2 BsupermarketsFashion & Retail
Wang Wei$39 Bpackage deliveryService
Miriam Adelson$38.2 BcasinosGambling & Casinos
He Xiangjian$37.7 Bhome appliancesManufacturing
Dieter Schwarz$36.9 BretailFashion & Retail
Zhang Yiming$35.6 BTikTokTechnology
Giovanni Ferrero$35.1 BNutella, chocolatesFood & Beverage
Alain Wertheimer$34.5 BChanelFashion & Retail
Gerard Wertheimer$34.5 BChanelFashion & Retail
Li Ka-shing$33.7 BdiversifiedDiversified
Qin Yinglin & family$33.5 Bpig breedingFood & Beverage
William Lei Ding$33 Bonline gamesTechnology
Len Blavatnik$32 Bmusic, chemicalsDiversified
Lee Shau Kee$31.7 Breal estateReal Estate
Jacqueline Mars$31.3 Bcandy, pet foodFood & Beverage
John Mars$31.3 Bcandy, pet foodFood & Beverage
Yang Huiyan & family$29.6 Breal estateReal Estate
Alexey Mordashov & family$29.1 Bsteel, investmentsMetals & Mining
Robin Zeng$28.4 BbatteriesEnergy
Hui Ka Yan$27.7 Breal estateReal Estate
Susanne Klatten$27.7 BBMW, pharmaceuticalsAutomotive
Vladimir Potanin$27 BmetalsMetals & Mining
Dietrich Mateschitz$26.9 BRed BullFood & Beverage
Pang Kang$26.4 Bsoy sauceFood & Beverage
Klaus-Michael Kuehne$26.3 BshippingLogistics
Vladimir Lisin$26.2 Bsteel, transportMetals & Mining
Wang Xing$26.1 Be-commerceTechnology
German Larrea Mota Velasco & family$25.9 BminingMetals & Mining
Leonardo Del Vecchio & family$25.8 BeyeglassesFashion & Retail
Takemitsu Takizaki$25.8 BsensorsManufacturing
Leonard Lauder$25.5 BEstee LauderFashion & Retail
Thomas Peterffy$25 Bdiscount brokerageFinance & Investments
Vagit Alekperov$24.9 BoilEnergy
Leonid Mikhelson$24.9 Bgas, chemicalsEnergy
Jim Simons$24.6 Bhedge fundsFinance & Investments
Jiang Rensheng & family$24.4 BvaccinesHealthcare
Gina Rinehart$23.6 BminingMetals & Mining
Rupert Murdoch & family$23.5 Bnewspapers, TV networkMedia & Entertainment
Shiv Nadar$23.5 Bsoftware servicesTechnology
Zhang Zhidong$23.4 Binternet mediaTechnology
Iris Fontbona & family$23.3 BminingMetals & Mining
Lei Jun$23 BsmartphonesTechnology
Zhang Yong$23 BrestaurantsFood & Beverage
Richard Qiangdong Liu$22.4 Be-commerceTechnology
Gennady Timchenko$22 Boil, gasEnergy
Stephen Schwarzman$21.9 BinvestmentsFinance & Investments
Goh Cheng Liang$21.7 BpaintsManufacturing
Stefan Quandt$21.6 BBMWAutomotive
Li Xiting$21.5 Bmedical devicesHealthcare
Pierre Omidyar$21.4 BeBay, PayPalTechnology
Stefan Persson$21.3 BH&MFashion & Retail
Abigail Johnson$20.9 Bmoney managementFinance & Investments
R. Budi Hartono$20.5 Bbanking, tobaccoFinance & Investments
Andrew Forrest$20.4 BminingMetals & Mining
Ray Dalio$20.3 Bhedge fundsFinance & Investments
Michael Hartono$19.7 Bbanking, tobaccoManufacturing
Li Shufu$19.7 BautomobilesAutomotive
Zhong Huijuan$19.7 BpharmaceuticalsHealthcare
Xu Hang$19.5 Bmedical devicesHealthcare
Lui Che Woo & family$19.4 Bcasinos/hotelsGambling & Casinos
Emmanuel Besnier$19.1 BcheeseFood & Beverage
Laurene Powell Jobs & family$19 BApple, DisneyTechnology
Eric Schmidt$18.9 BGoogleTechnology
Sun Piaoyang$18.9 BpharmaceuticalsHealthcare
Theo Albrecht, Jr. & family$18.8 BAldi, Trader Joe'sFashion & Retail
Alisher Usmanov$18.4 Bsteel, telecom, investmentsMetals & Mining
Robert Pera$18.3 Bwireless networking gearTechnology
Wu Yajun$18.3 Breal estateReal Estate
Fan Hongwei & family$18.2 BpetrochemicalsEnergy
Dhanin Chearavanont$18.1 BdiversifiedDiversified
Peter Woo$18 Breal estateReal Estate
Chen Bang$17.9 BhospitalsHealthcare
Andrey Melnichenko$17.9 Bcoal, fertilizersEnergy
Dustin Moskovitz$17.8 BFacebookTechnology
Su Hua$17.8 Bvideo streamingMedia & Entertainment
Donald Newhouse$17.6 BmediaMedia & Entertainment
Petr Kellner$17.5 Bfinance, telecommunicationsFinance & Investments
Lee Man Tat$17.4 BfoodFood & Beverage
Pavel Durov$17.2 Bmessaging appTechnology
James Ratcliffe$17 BchemicalsManufacturing
Jorge Paulo Lemann & family$16.9 BbeerFood & Beverage
Reinhold Wuerth & family$16.8 BfastenersManufacturing
Charlene de Carvalho-Heineken & family$16.7 BHeinekenFood & Beverage
Radhakishan Damani$16.5 Bretail, investmentsFashion & Retail
Wang Chuanfu$16.3 Bbatteries, automobilesAutomotive
Steve Cohen$16 Bhedge fundsFinance & Investments
Ken Griffin$16 Bhedge fundsFinance & Investments
Chen Zhiping$15.9 Be-cigarettesManufacturing
Ernest Garcia, II.$15.9 Bused carsAutomotive
Uday Kotak$15.9 BbankingFinance & Investments
Carl Icahn$15.8 BinvestmentsFinance & Investments
Suleiman Kerimov & family$15.8 BinvestmentsFinance & Investments
Thomas Frist, Jr. & family$15.7 BhospitalsHealthcare
Lukas Walton$15.6 BWalmartFashion & Retail
Mikhail Fridman$15.5 Boil, banking, telecomEnergy
Wei Jianjun & family$15.5 BautomobilesAutomotive
Zuo Hui$15.5 Breal estate servicesReal Estate
Zhou Qunfei & family$15.4 Bsmartphone screensTechnology
Donald Bren$15.3 Breal estateReal Estate
Hinduja brothers$14.9 BdiversifiedDiversified
Lakshmi Mittal$14.9 BsteelMetals & Mining
Georg Schaeffler$14.9 Bauto partsAutomotive
Eric Yuan & family$14.9 Bvideo conferencingTechnology
Wang Jianlin$14.8 Breal estateReal Estate
Kwong Siu-hing$14.7 Breal estateReal Estate
Robin Li$14.7 Binternet searchTechnology
Pallonji Mistry$14.6 BconstructionConstruction & Engineering
Eduardo Saverin$14.6 BFacebookTechnology
Roman Abramovich$14.5 Bsteel, investmentsDiversified
David Tepper$14.5 Bhedge fundsFinance & Investments
Gong Hongjia & family$14.4 Bvideo surveillanceFinance & Investments
Mike Cannon-Brookes$14.2 BsoftwareTechnology
John Menard, Jr.$14.2 Bhome improvement storesFashion & Retail
Seo Jung-jin$14.2 BbiotechHealthcare
Cheng Yixiao$14.1 Bvideo streaming appMedia & Entertainment
Liang Wengen$14.1 Bconstruction equipmentManufacturing
Scott Farquhar$14 BsoftwareTechnology
Finn Rausing$13.9 BpackagingFood & Beverage
Jorn Rausing$13.9 BpackagingFood & Beverage
Kirsten Rausing$13.9 BpackagingFood & Beverage
Brian Chesky$13.7 BAirbnbTechnology
Joseph Lau$13.6 Breal estateReal Estate
David Duffield$13.5 Bbusiness softwareTechnology
Charoen Sirivadhanabhakdi$13.5 Balcohol, real estateFood & Beverage
Kim Jung-ju$13.3 Bonline gamesTechnology
Robert & Philip Ng$13.3 Breal estateReal Estate
Zhang Bangxin$13.3 BeducationService
Anders Holch Povlsen$13.2 Bfashion retailFashion & Retail
Wang Wenyin$13.2 Bmining, copper productsMetals & Mining
Wang Liping & family$13.1 Bhydraulic machineryManufacturing
Tatyana Bakalchuk$13 BecommerceFashion & Retail
Michael Platt$13 Bhedge fundsFinance & Investments
Huang Shilin$12.9 BbatteriesEnergy
Ricardo Salinas Pliego & family$12.9 Bretail, mediaFashion & Retail
Kumar Birla$12.8 BcommoditiesDiversified
Dang Yanbao$12.7 BcoalMetals & Mining
Cyrus Poonawalla$12.7 BvaccinesHealthcare
Robert Kuok$12.6 Bpalm oil, shipping, propertyDiversified
Hank & Doug Meijer$12.6 BsupermarketsFashion & Retail
Jack Dorsey$12.5 BTwitter, SquareTechnology
Lu Zhongfang$12.5 BeducationAutomotive
Ma Jianrong & family$12.5 Btextiles, apparelFashion & Retail
Zhang Tao$12.5 Be-commerceFashion & Retail
Nathan Blecharczyk$12.4 BAirbnbTechnology
John Doerr$12.4 Bventure capitalTechnology
Joe Gebbia$12.4 BAirbnbTechnology
Forrest Li$12.4 BgamingMedia & Entertainment
Yu Renrong$12.3 BsemiconductorsManufacturing
Liu Yonghao & family$12.1 BagribusinessService
Gordon Moore$12.1 BIntelTechnology
Jeff Yass$12 Btrading, investmentsFinance & Investments
Bobby Murphy$11.9 BSnapchatTechnology
Patrick Drahi$11.8 BtelecomTelecom
Jensen Huang$11.8 BsemiconductorsTechnology
Alexander Otto$11.8 Breal estateReal Estate
Cen Junda$11.6 BpharmaceuticalsHealthcare
Joseph Tsai$11.6 Be-commerceTechnology
Aliko Dangote$11.5 Bcement, sugarManufacturing
Marcel Herrmann Telles$11.5 BbeerFood & Beverage
Mikhail Prokhorov$11.4 BinvestmentsFinance & Investments
Jorge Moll Filho & family$11.3 BhospitalsHealthcare
Viktor Rashnikov$11.2 BsteelManufacturing
Harry Triguboff$11.2 Breal estateReal Estate
Leonid Fedun & family$11.1 BoilEnergy
Eyal Ofer$11.1 Breal estate, shippingDiversified
Evan Spiegel$11.1 BSnapchatTechnology
Luis Carlos Sarmiento$11 BbankingFinance & Investments

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There are many things in life you don’t want to rush through; many experiences you wish to linger. The American cult of efficiency is a kind of over-optimization, and over-fitting of a line that delusionally demands up and to the right every single day, every single quarter, every single time.

The benefits of stopping to smell the flowers have been extolled by sages and philosophers throughout the ages. In all of recorded human history lies some form of the mantra, “haste unto death” — for it is true. We rush headlong off the cliff after all the lemmings ahead of us. We can’t help ourselves — eternal moths to eternal flames.

The slow life

From the cuisine to jurisprudence, from behavior economics to psychological well-being, moving more slowly has numerous well-established benefits. Efficiency should never be the only goal, in any domain or at all times. As James Madison strongly agreed with, “moderation in all things” is the mathematically optimal way to approach life, justice, and governing. Influenced by the Marquis du Condorcet, the invention of statistics, and a distaste for extremism in all forms, The Founders were prescient regarding the later theory of the wisdom of the crowds. They sought to temper the passions of the crowds via checks and balances in our system of governance.

“The arc of the moral universe is long, but it bends toward justice,” said Martin Luther King, Jr. That the veracity of the quote remains unsettled is unsettling, like strange fruit swinging in the southern breeze. Yet the “quick justice” barbaric efficiency of slavery, the Confederacy, Jim Crow, superpredators, and mowing down unarmed Black men for traffic violations to name a few, are no examples of fairness. Faster isn’t always better, especially when it comes to justice. It takes time to gather facts, talk to witnesses, piece together the crimes and document them in an airtight way, brokering no doubt in the mind of a single jurist.

More efficiency topics

Areas I’ll be further exploring:

  • Slow thinking — Daniel Kahneman’s behavioral economics and cognition theory about slow and fast thinking systems in the brain, how they physiologically arose, and their implications for bias, decision making, geopolitics, and more.
  • Journey vs. Destination — It’s not just about getting to the same restaurant and eating the same thing. The end doesn’t always justify the means. Traveler vs. Tourist. Go with the flow. Roll with it, baby.
  • An ounce of caution — A stitch of time. He who makes haste makes waste. Don’t count your chickens before they hatch. Be careful!
  • Self-reflection — Thoughtfulness. Rumination. Mindfulness. Presence.
  • Being too busy speeds up time, not necessarily in a good way. Leads to the unexamined life, a Stoic no-no. Socrates would not approve, dude.
  • Enoughness — Sustainability. Patience. Non-violence. Whole-heartedness.
  • Hierarchy vs. Fairness — Consensus takes a lot longer. Dictators and monarchs are nothing if not efficient.
  • The appeal of fascism — History and ideology of the Nazis and their obsession with efficiency.
  • PR — soundbites. Simple narratives. Tropes, slogans, repetition.
  • Entertainment — intellectual empty calories. Neil Postman. McLuhan.
  • Automation — AI, bots, robotics, threats to labor
  • Walking vs. Transportation
  • The slow food movement
  • Speed reading
  • Speed runs — video games
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The $1.9 trillion covid relief package that passed the Senate this weekend is a major legislative victory just 6 weeks into Biden’s term. The American Rescue Plan will give his Presidency and Democrats in the 117th session of Congress a huge boost — in enacting more of Biden’s agenda, in the economy, in replenishing strained state and local coffers, and in giving the Democrats 100% of the credit for the hope, the recovery, and the return to normalcy for hundreds of millions of Americans. Senator Sanders called it the “most significant piece of legislation to benefit working people in the modern history of this country” — and he’s a tough one to please!

Of course, the right wing is churning out its usual disinformation machine around the contents of the bill. Zero Republicans voted for it, which puts them on record indelibly forever as voting against relief checks, against pandemic assistance, against schools reopening, against… everything of most relevance to most people at this time, according to the majority of Americans polled who favor it (62%). Let’s take a look at all the urgent relief that’s actually in the bill.

What’s in the American Rescue Plan

  • $1400 direct checks
  • $300/week unemployment extension through September
  • Increased child tax credit to $3000-$3600 in 2021 and made it fully refundable
  • Extending COBRA benefits and health benefits
  • $170 billion for safely reopening schools
  • $20 billion for vaccination programs
  • $30 billion for PPE
  • $350 billion for state and local governments devastated and depleted from the pandemic
  • Funding for covid testing, contact tracing, and forecasting
  • Relief for restaurants, small businesses, and farmers
  • Child care and child nutrition funds
  • Tax credits for sick leave and family leave
  • Funding for community health, mental health, and the opioid crisis
  • Emergency rental assistance, rural housing, homelessness relief
  • FEMA funding
  • Funeral assistance
  • Relief to airlines, airports, and aviation manufacturing
  • Extend benefits to rail workers
  • VA funding
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It feels odd to have to make these arguments for diversity, again, some centuries after the Enlightenment. And decades after Darwin, in whose name many fallacious opposite “interpretations” are levied.

Nevertheless, the evidence is there for us as it has always been. Diversity isn’t a bad thing — it’s a good thing. For populations, for economies, for problem solving, for all of us. The more options there are, the higher probability that one of them might be the right match, or the thing that solves the problem, or the best selection for the job at hand.

So there’s a strict mathematical component to the arguments for diversity, but beyond that many fields have weighed in on the utility and pragmatic value of diversity. This assortment is a work in progress I’ll continue to add to over time:

  • In biology, more diverse populations are more resilient to a wider variety of changes. This resilience is one of the best arguments for diversity of all.
  • The best investment portfolio, generally speaking, is the one that is most diversified.
  • In business, a diversity of new ideas leads to better decision-making and increased innovation; studies show a diverse workforce, as well as a diverse board, nets better results and outperforms their more conformist cousins.
  • Cross-pollination is generative
  • Range adds resilience
  • Condorcet jury theorem: the more people there are making a decision, the more right it will be. Plurality makes better decisions. See also: wisdom of crowds
  • Law of large numbers: the more data points you have, the more accurate your distribution will be.
  • A large number of independent transactions helps economies function properly and grow. We speak of the economy “moving” and finding many touchpoints to do business on.

Diversity unhinges us because it unmasks our hidden assumption that if we all look the same, we will think the same and thereby avoid conflict.
Deep down, we still secretly hope that we can avoid having to deal with our differences by magically generating conformity.

Our unspoken wish is that, by being identical, we achieve the harmony and collective togetherness we so deeply crave — the collective harmony we mistake for God.

Diversity outcompetes monoculture

The opposite of diversity is monoculture… and inbreeding. Monoculture represents sameness, stasis, and stagnation — the system or culture feels fairly dull and stale.

Most people like a certain level of variety in their lives. Some though, have great aversion to difference, change, or both. Authoritarian personalities tend to dislike difference, while individuals with conservative ideology tend to dislike change.

One of the more relatable arguments for diversity stems from the fact that a majority of people enjoy and benefit from diverse points of view, experiences, community members, and beyond.

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There is psychological evidence that people tend to behave more morally when they know, or when they believe, someone is watching them. When observers are present, people’s worst antisocial tendencies tend to be mitigated to some degree. There is also evidence from religious studies, that show belief in a moral god who has infinite access to your deepest motives enhances the effect from more “secular” oversight from experiences like instinctively braking when you see a cop on the highway.

On the other end, there is a lot of benefit to all manner of people and organizations being able to have oversight — from a boss supervising an employee, to a client evaluating an agency, to law enforcement surveilling suspects and surveillance more broadly. Observation is the key to experimentation under the scientific method, and a surveyor prepares land for development. The feedback loops that result from being able to see how a plan, theory, or hypothesis work out in the real world allow the original assumptions to be validated or adjusted, accordingly.

The government is an organization that operates largely in an oversight capacity. The executive branch runs departments that broadly oversee the nation’s transportation, military, national security, diplomacy, law enforcement, justice system, budget, economy and fiscal policy, education policy, energy grid, and stockpile of nuclear weapons — among much else. In a federalized system of 50 states under a larger national banner, many regional and local differences add to the complexity of the policy and enforcement concerns, and the difficulty of managing both a large population and vast land mass.

Conversely, if you believe no one is watching, you are more likely to commit corruption or crime. If someone thinks they can get away with it, they are much more likely to try and grab an opportunity. The growing scale and speed of modern society tends to exacerbate the feeling that “no one is watching,” making it seem like it matters less if small rules are broken here or there — an effect which can continue to snowball into crimes of greater and greater severity.

Anti-government sentiment rejects oversight

Here is yet another reason to be skeptical of anti-government sentiment amongst so-called “patriots” who seek to overthrow free and fair elections: how can government fulfill its sacred obligation to perform its oversight duties if it’s been drowned in a bathtub? It can’t!

Related concepts:

  • God
  • the watchful eye — annuit coeptis
  • the Oversight Committee
  • the rule of law / spirit of laws
  • surveillance
  • night watchman state
  • police brutality
  • transparency
  • “Hell is other people”
  • Eye of Sauron
  • the peanut gallery
  • hecklers
  • hall monitors
  • judges
  • supervisors
  • parents
  • overseers
  • vantage points
  • command view
  • crow’s nest
  • dystopia
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January 6: A Day that will live in ignominy. The day Capitol riots broke out when an angry mob, following instructions from Donald Trump, stormed the halls of Congress and came within minutes of a potential hostage situation or worse: a massacre.

I’m still processing the events of Wednesday, as are many. Even though I fully anticipated something horrifying given the utter obviousness of the confrontation brewing, I did not have a particular picture in mind of what that thing was going to be.

Despite having steeled myself for the past 4+ years, I wept many times at some of the imagery and video footage. The defilement of the people’s halls by a violent armed mob who took selfies with Capitol Police was just not something I could have conceived of.

There must be accountability

This was one of the darkest days of our nation. Even during the Civil War the Confederates never stormed the US Capitol, so to see the Confederate flag waving in Congress was a desecration. It twisted me up to have such a raw display of America’s deepest gash of white supremacist history taken symbolically and literally to the nation’s capital.

This event was broadcast around the world, to our allies and to our enemies. We received rebukes from Moscow, Beijing, and Tehran. We — the supposed bastion of democracy. The country that lectures other nations around the world on how to do democracy better. We have been humiliated for the entire planet to see.

We need answers about what happened here. The people deserve to know who planned this, who helped this along, who looked the other away, and perhaps most importantly: who still agrees with it (Hawley and Cruz, for one — they must go).

We must stop fascism in America

The rot of fascism has been allowed to spread to the point where a violent mob of white supremacists, QAnon conspiracy nuts, MAGA faithful and a demon’s host of all stripes came within minutes of taking hostages inside the chambers of Congress. Five people lost their lives and already are being made into martyrs.

This did not begin with Trump, but he certainly amplified the signal at a much more psychotic rate than under previous administrations, certainly of my lifetime. We are now at a dangerous precipice: in a time of staggering wealth inequality, a once in a century health crisis largely being ignored by the right wing, deeply bitter partisanship played out over decades, the creep of authoritarianism around the world — and now at home.

Wednesday’s Capitol Riots did essentially mark the “crossing of the Rubicon” that the Trump cult begged him to do — it was a coming-out day for fascism. It was the President of the United States instructing an armed mob to walk up to the Capitol where lawmakers were certifying the election for the guy who won it, and telling them to “take our country back” and give it to him — by force if necessary. Which, of course, was necessary.

That is the Rubicon — the Rubicon is the willingness to use political violence when you have exhausted all other legal, shady, illegal, and hideously criminal means. That is the fascist twist. If we do not react now; if we do not censure, remove, and allow justice to hold these individuals accountable — both inside and outside of the government — they will take it as permission to try again and again until we deal with this.

We must hold the insurrectionists accountable — if we are to keep this republic.

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I try to be choosy about my news as well as reading widely. I make it a habit to routinely consult sources outside the US, know the ethics of the outlets I most rely on, and try to mix up the types of media ownership and format (newspaper, TV, podcast, website, radio, etc.) to avoid a monolithic class or other point of view on any particular subject or issue. Some of the media sources I trust for valuable perspectives are in the table below.

Other habits: trying to corroborate stories amongst multiple publications; evaluate the credibility of authors and references; read source material; do my own calculations; consult public data when available; go back further into history to understand the trajectory of preceding events; keep listening for new information on the subject. Adjust my views based on new incoming information, if warranted. Keep an eye out for disinformation or other skewed presentations of fact.

Good journalism matters

Having worked in media for most of my career, I have a lot of practice evaluating the quality and veracity of reporting. Cross-referencing comes second nature. I’ve studied the media industry as a professional imperative and understand a bit about its ownership structures and its history, both technical and economic. As a political philosophy buff, I’m aware of the great importance of a free press to our democratic republic.

I appreciate a tight headline, a profound topic, and bold investigation as well as imaginative prose and pithy information. We need the intrepid courage of the press, particularly in these times of demagoguery, kleptocracy, hucksterism, and Zucksterism. The fourth estate has helped us find our better angels in the past, and there’s no reason to think it can’t assist us once again to get better transparency into the bigger picture and big histories behind today’s otherwise chaotic and overwhelming political landscape.

NameCountryFundingYear foundedAgeLink
The GuardianUKPrivate1821204https://www.theguardian.com/
The EconomistUKPrivate1843182https://www.economist.com/
Scientific AmericanUSPrivate1845180https://www.nature.com/
Associated PressUSNonprofit1846179https://apnews.com/
The New York TimesUSPrivate1851174https://www.nytimes.com/
ReutersUSPrivate1851174https://www.reuters.com/
The Daily TelegraphUKPrivate1855170https://www.telegraph.co.uk/
The AtlanticUSPrivate1857168https://www.theatlantic.com/
NatureUSPrivate1869156https://www.nature.com/
The Washington PostUSPrivate1877148https://www.washingtonpost.com/
LA TimesUSPrivate1881144https://www.latimes.com/
Financial TimesUKPrivate1888137https://www.ft.com/
The New RepublicUSPrivate1914111https://newrepublic.com/
BBCUKPublic1922103https://www.bbc.com/news
TimeUSPrivate1923102https://time.com/
The New YorkerUSPrivate1925100https://www.newyorker.com/
CBCCanadaPublic193689https://www.cbc.ca/news/world
SpiegelEUPrivate194778https://www.spiegel.de/international/
Radio Free EuropeEUPublic194976https://www.rferl.org/
New ScientistUKPrivate195669https://www.newscientist.com/
Rolling StoneUSPrivate196758https://www.rollingstone.com/
PBSUSPublic196956https://www.pbs.org/
Foreign PolicyUSPrivate197055https://www.euronews.com/
NPRUSPublic197055https://www.npr.org/
Greg PalastUSIndependent197649https://www.gregpalast.com/
C-SPANUSPublic197946https://www.c-span.org/
CNNUSPrivate198045https://www.cnn.com/
The IndependentUKPrivate198639https://www.independent.co.uk/us
Sky NewsUKPrivate198639https://news.sky.com/
EuronewsEUPrivate199332https://www.euronews.com/
MSNBCUSPrivate199629https://www.msnbc.com/
International Consortium of Investigative JournalistsUSNonprofit199728https://icij.org
VoxUSPrivate200520https://www.vox.com/
PoliticoUSPrivate200718https://www.politico.com/
BellingcatEUIndependent201411https://www.bellingcat.com/
Gaslit NationUSCrowdfunding201510https://www.patreon.com/m/1844970/posts
AxiosUSPrivate20178https://www.axios.com/
Just SecurityUSAcademic20178https://www.justsecurity.org/
The ConversationalistUSNonprofit20196https://conversationalist.org/
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A concept that describes the impact to the world of children in poverty, under excessive inequality, and in other circumstances that contribute to the loss of that individual’s gift to the world. It is one of many ways to try and measure the effect of the negative externalities of lightly regulated laissez-faire capitalism.

There is both a human cost and an actual financial impact on collective wealth: it goes down. It will be lower than it otherwise could have been. We all miss out, because the size of the economic pie is smaller for all of us. We are surely impoverished intellectually and spiritually as well by the loss of these missing geniuses.

Ethical questions

How can we justify not helping the poor on any basis then?

  • We all lose out; the pie is smaller
  • It’s a very small amount of money relative to other traditional parts of public budgets
  • It improves various measures of civil society, public health, crime, and other public services
  • It’s the right thing to do
  • The Golden Rule indicates it
  • Jesus commanded it

What rationale remains?

And if we still insist on metering talent development out to spite our own face, then who do we allow to have that kind of mental space, to spend enough time pondering the Big Questions? Who do we assume will do those things?

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The state has an interest in educating its citizens. There are a number of reasons a nation could benefit from attending to the education of its citizens, creating a state interest in public education. Many of them are economic, and contribute to the growth of industry and health of communities:

  • More people generating more value increases GDP, compounded over time
  • Increased entrepreneurship
  • Increased innovation, and dynamism in the economy along with it
  • Improved public health and saving cost on health care
  • Longer life spans means more working years at greater seniority levels, contributing a lot of surplus value to the economy
  • Increased incomes provide more free time to contribute to civic life and be informed voters
  • Decreasing the number of “Lost Einsteins” — talented individuals who do not get a chance to shine their lights and contribute their gifts

We all have an interest in investing in the development of our human capital, because it is rational to do so. It will pay many dividends over time, both directly and indirectly.

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Developed in the 18th and 19th centuries, classical liberalism is a political, philosophical, and ethical framework based on individual liberty via human rights and equal protection. Liberalism is a political philosophy or worldview founded on ideas of individual freedom, natural rights, and equality. Whereas classical liberalism emphasizes the role of liberty, social liberalism stresses the importance of equality.

Political thinkers in the 1700s were responding to the contentious issues of their time — namely the oppressive cultural and social conditions of authoritarianism and the twin totalisms of monarchies and the church. Classical liberals such as John Locke, John Stuart Mill, Adam Smith, Montesquieu and others believed that individuals ought to be free to pursue their own interests without interference from the state or other people — so long as they were not harming others, or infringing upon their rights in turn. These principles tend to require a delicate balance between respect for the rule of law, and the limiting of government power.

Liberals espouse a wide array of views depending on their understanding of these principles, but generally they support ideas and policies such as freedom of speech, freedom of the press, freedom of religion, free markets, civil rights, democratic societies, secular governments, gender equality, and international cooperation.

In a word: freedom.

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This past week we had a serious, unironic “debate” about whether or not senicide is a reasonable “plan” for handling the coronavirus crisis. This under the pretense that the other course of action — following the advice of medical professionals and epidemiologists to stay home and socially distance ourselves to curb the spread of covid-19 — is tantamount to shutting down the economy, which is tantamount to killing more people than the virus will.

Meanwhile, Congress passed a $2 trillion relief package, one quarter of which will go to the billionaire class with precious little oversight as to how it can be spent — and still apparently no one seems to have the slightest bit of confidence that the world’s richest economy can possibly weather the storms of depressed consumer demand for even several weeks much less the potentially many months this pandemic will rage across the planet. Perhaps this reveals that The Economy simply isn’t as robust as we tell ourselves it is during better times.

Dead Men Pay No Taxes

The proposed Sophie’s Choice between weeks or months of physical separation and allowing many people to die all around us is a false frame.

Millions of people dying is bad for The Economy in a very similar way to how having ICE eject millions of people from the economy is bad for The Economy. Insofar as economies require a labor force, and insofar as governments require revenue from taxation to pay for the infrastructure upon which The Economy rests, having millions of people depart from them is not a pathway to improving the economy — it is the opposite.

However, perhaps The Economy itself has become a contested concept. There may be a class-based and/or ideologically-based difference of opinion on what this concept means. Perhaps there is now:

  • the economy: the traditionally-held view of economies as markets in which individuals labor and contribute value, and trade assets in mutually beneficial ways to allocate resources efficiently
  • The Economy: a sort of shell game played by the right-wing authoritarian cohort in which the Plebes are starved of infrastructure and resources to the point of being mired inside an Eternal Present — in which we lurch from crisis to crisis — that brokers no hope for the future and no actual policy being made, other than the “policies” which continue to print money from the Federal Treasury for the purposes of propping up the precariously fragile billionaire class whose claims of meritocratic supremacy are stretched thinner and thinner each time the shells are moved yet again

Starving the Beast kills it: Feature or bug?

On paper, “Starving the Beast” is passed off as deeply held ideological libertarianism and neoliberalism regarding the fundamental goodness of small government. In practice, starving beasts tend to die of preventable causes — and if governments are to retain the kind of power needed to be a check and balance on a growing hypercapitalist economy, they must indeed grow as well.

But beyond the general case, our specific circumstances of global pandemic lead us to a reasonable question: if laissez-faire capitalism and the free hand of the market is supposedly both sufficient to solve all human problems and vastly superior than the socialist hand of government at doing these things, then why are we in such a pickle? Why hasn’t the Invisible Hand managed to come up with its own solution to the mass death we are currently experiencing?

Or is the answer we might hear one that is too grim to bear — having been provided a clue this week in the grumbling of sacrificing the old to save the young — that a certain part of the political spectrum believe this is the market working as intended. That mass death is an acceptable “negative externality” of laissez-faire capitalism and that we bleeding-heart liberals ought to suck it up and grow thicker skin, rather than demand that governments step in to prevent preventable human atrocity.

Not only am I afraid of the answer — I’m afraid we’ll never get a straight answer in the world of political ketman we seem to have blundered into. In this world, right-wing elites including numerous elected officials continue to give lip service to a democracy that has been systematically hollowed out since the redoubling of the conservative movement in the 1970s to present, to currently resemble a geopolitical reality closer to that of modern Russia than to anything James Madison or Alexander Hamilton would have recognized.

It is technically possible that psychologically speaking, they themselves are actually unaware of this seismic shift in ideological views from that of democratic power and Constitutional authority to one of authoritarian rule and total technocratic control — but I think it’s more likely they’re simply not saying it out loud.

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fund or maintain civic necessities such as:

  • clean water delivery
  • sewage removal
  • electricity generation and delivery
  • garbage and recycling removal
  • public safety
    • police forces
    • fire protection
    • emergency response
    • flood control
  • a justice system
    • courts
    • jails
  • transportation
    • road planning and construction
    • bridge planning and construction
    • street lights
    • traffic lights
    • driver licensing
    • airports
    • railroads
    • subways
    • buses
    • parking
    • snow plowing
  • mail service
  • sidewalks
  • parks and recreation
  • schools
  • libraries
  • property and county records
  • land surveys
  • research and development
  • public health
    • hospitals
    • pollution control and remediation
    • food supply testing
  • legislation
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speak, sistah!

see also: Shoshanna Zuboff (who wrote the seminal work on surveillance capitalism), Don Norman, Dystopia vs. Utopia Book List: A Fight to the Finish, surveillance capitalism dictionary

Some takeaways:

  • surveillance won’t be obvious and overt like in Orwell’s classic totalitarian novel 1984 — it’ll be covert and subtle (“more like a spider’s web”)
  • social networks use persuasion architecture — the same cloying design aesthetic that puts gum at the eye level of children in the grocery aisle

Example:

AI modeling of potential Las Vegas ticket buyers

The machine learning algorithms can classify people into two buckets, “likely to buy tickets to Vegas” and “unlikely to” based on exposure to lots and lots of data patterns. Problem being, it’s a black box and no one — not even the computer scientists — know how it works or what it’s doing exactly.

So the AI may have discovered that bipolar individuals just about to go into mania are more susceptible to buying tickets to Vegas — and that is the segment of the population they are targeting: a vulnerable set of people prone to overspending and gambling addictions. The ethical implications of unleashing this on the world — and routinely using and optimizing it relentlessly — are staggering.

Profiting from extremism

“You’re never hardcore enough for YouTube” — YouTube gives you content recommendations that are increasingly polarized and polarizing, because it turns out that preying on your reptilian brain makes you keep clicking around in the YouTube hamster wheel.

The amorality of AI — “algorithms don’t care if they’re selling shoes, or politics.” Our social, political, and cultural flows are being organized by these persuasion architectures — organized for profit; not for the collective good, not for public interests, not subject to our political will anymore. These powerful surveillance capitalism tools are running mostly unchecked, with little oversight and with few people minding the ethics of the stores of essentially a cadre of Silicon Valley billionaires.

Intent doesn’t matter — good intentions aren’t enough; it’s the structure and business models that matter. Facebook isn’t a half trillion dollar con: its value is in its highly effective persuasion power, which is highly troubling and concerning in a supposedly democratic society. Mark Zuckerberg may even ultimately mean well (…debatable), but it doesn’t excuse the railroading over numerous obviously negative externalities resulting from the unchecked power of Facebook in not only the U.S., but in countries around the world including highly volatile domains.

Extremism benefits demagogues — Oppressive regimes both come to power by and benefit from political extremism; from whipping up citizens into a frenzy, often against each other as much as against perceived external or internal enemies. Our data and attention are now for sale to the highest bidding authoritarians and demagogues around the world — enabling them to use AI against us in election after election and PR campaign after PR campaign. We gave foreign dictators even greater powers to influence and persuade us in ways that benefit them at the expense of our own self-interest.

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When usability pioneers have All the Feels about the nature of our creeping technological dystopia, how we got here, and what we might need to do to right the ship, it’s wise to pay attention. Don Norman’s preaching resonated with my choir, and they’ve asked me to sing a summary song of our people in bulleted list format:

  • What seemed like a virtuous thing at the time — building the internet with an ethos of trust and openness — has led to a travesty via lack of security, because no one took bad actors into account.
  • Google, Facebook, et al didn’t have the advertising business model in mind a priori, but sort of stumbled into it and got carried away giving advertisers what they wanted — more information about users — without really taking into consideration the boundary violations of appropriating people’s information. (see Shoshana Zuboff’s definitive new book on Surveillance Capitalism for a lot more on this topic)
  • Tech companies have mined the psychological sciences for techniques that — especially at scale — border on mass manipulation of fundamental human drives to be informed and to belong. Beyond the creepy Orwellian slant of information appropriation and emotional manipulation, the loss of productivity and mental focus from years of constant interruptions takes a toll on society at large.
  • We sign an interminable series of EULAs, ToS’s and other lengthy legalese-ridden agreements just to access the now basic utilities that enable our lives. Experts refer to these as “contracts of adhesion” or “click-wrap,” as a way of connoting the “obvious lack of meaningful consent.” (Zuboff)
  • The “bubble effect” — the internet allows one to surround oneself completely with like-minded opinions and avoid ever being exposed to alternative points of view. This has existential implications for being able to inhabit a shared reality, as well as a deleterious effect on public discourse, civility, and the democratic process itself.
  • The extreme commercialization of almost all of our information sources is problematic, especially in the age of the “Milton Friedman-ification” of the economic world and the skewing of values away from communities and individuals, towards a myopic view of shareholder value and all the attendant perverse incentives that accompany this philosophical business shift over the past 50 years. He notes that the original public-spiritedness of new communication technologies has historically been co-opted by corporate lobbyists via regulatory capture — a subject Tim Wu explores in-depth in his excellent 2011 book, “The Master Switch: The Rise and Fall of Information Empires.

Is it all bleak, Don?! His answer is clear: “yes, maybe, no.” He demurs on positing a definitive answer to all of these issues, but he doesn’t really mince words about a “hunch” that it may in fact involve burning it all down and starting over again.

Pointing to evolution, Norman notes that we cannot eke radical innovation out of incremental changes — and that when radical change does happen it is often imposed unexpectedly from the outside in the form of catastrophic events. Perhaps if we can’t manage to Marie Kondo our way to a more joyful internet, we’ll have to pray for Armageddon soon…?! 😱

https://www.youtube.com/watch?v=uCEeAn6_QJo
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In the 1930s and 40s we had the New Deal (thanks, FDR!). In 1938, Congress passed the Fair Labor Standards Act, setting legal limits on the maximum number of hours worked and the minimum wages allowed. Child labor was outlawed, and union laws allowed collective bargaining — resulting in much-needed wage growth and improved conditions for workers.

Republicans fought it then, claiming it was an essentially socialist program, and an economic enemy to business and growth. However, it was the very opposite of that — the war and post-war years were ones of productivity and prosperity, widely and broadly. A strong middle class was formed, changing the life and culture of America forever. The very image of the 1950s Average Family with a white picket fence (emphasis on the white) and 2.5 children the right-wing seems to have nostalgia for was made possible by massive government investments into the US economy and labor force — investments which paid off handsomely and broadly for all, with the notable exception (once again… sort of a theme around here…) of Black Americans, who were largely carved out of the GI bill and given the meagre leavings of the superior education and housing benefits doled out to white veterans.

In the mid-1970s this growth engine finally began to falter, and since the 80s, we’ve instead had the Raw Deal. An ever-escalating version of a Libertarian’s wet dream: deregulation of numerous industries including finance (leading to the housing crash of 2007-8) and energy (leading to the Enron scandal, where traders joked about frying grandmas in CA for fat bonuses), a steadily less progressive tax system (down from a whopping 94% in 1944 down to 28% under Reagan), and endless waves of cuts to social programs that had been designed to level the opportunity playing field after centuries of explicit discrimination.

The thing is, when people feel hopeful, they work harder.

When there is hopelessness, there is less urgency to work hard to maintain the conditions and systems that make one feel so hopeless. If you know the game is rigged, how futile does it seem to keep playing?

Libertarians lament about the size of the pie, which is as good a modern version of “let them eat cake” while the plebes swill McD’s and pay through the nose for health care as any.

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