Gary Michael
@caliaba
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If I had to name the single most important concept driving my investment decisions, it'd be George Soros' reflexivity. That's the concept that markets act like a feedback loop between beliefs, reality and price...
Example: Company A makes sexy widgets, which ups the stock price, which allows them to issue more debt, which allows them to grow faster, which pushes up the stock, etc.
It wasn't until I encountered the phrase hyperstition that I realized reflexivity isn't limited to financial markets. As technology morphs us closer to gods, we can invent whatever we dream.
And that means reflexivity is coming for all aspects of our lives.
Normality is dead.
Ever-changing, amorphous, techno-euphoric crypto and AI culture is already changing our tomorrows. 1 reply
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