kia on Warpcast

keccers pfp

Unpopular opinion: this is not a problem worth addressing You think “oh waaah Joe Schmoe is deprived the ability to be the next Fred Wilson!!!” as if they would have his deal flow Removing accreditation will just fast track Joe Schmo to bankruptcy https://x.com/saraledterman/status/1497745438241296384

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kenny 🎩 pfp

is there any statistical data backing up the idea that people who are accredited make better investments than those who are not?

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keccers pfp

It’s not that they are better or worse or anything The barriers to the status aren’t so much about “being smart” as it is proving you won’t ruin yourself You can take a test to prove this, or you can just be rich enough that they are like fine, do what you want, you have enough

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kia pfp

isn't it weird that you can ruin yourself 101 ways but the one that you're barred from happens to be one of the only ways to 'ruin yourself' that happens to have an upside? i actually agree that the average person will not do well in these investments. the average person also doesn't do well day trading either.

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keccers pfp

One of the arguments being made over here to me is that access to such investment opportunities will actually decrease appetite for other types of speculation like sports gambling https://warpcast.com/keccers.eth/0x91cd39d7

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kenny 🎩 pfp

ohh I'm stealing that one

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keccers pfp

They thus far have had better arguments than all y’all lmao there’s a lot more there I could feed ya 😂

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shazow pfp

lol please share, I'm enjoying this thread's journey

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keccers pfp

Speculation is prosocial “The alchemy of finance is to commingle speculation with legitimate business activity. We must mix these up as much as possible for the greater good That is how we civilized human degeneracy into something prosocial. Simply denying it is not only anti freedom, but straight up ineffective”

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keccers pfp

We outlawed hard work and this is the result “If you make hard work illegal, don’t blame finance for managing to heroically squeeze out a profit from what is remaining” “It is legally much easier to do work in China. We should annex part of Mexico and build a new Shenzhen with the migrants”

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keccers pfp

<<had a whole sidebar around this point that went of into psycho directions including debating the role of the Protestant Work Ethic in the formation of capitalism>>

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keccers pfp

The small number of elites will carry us forward, so who cares about decay at the bottom, anyways “I do not believe that it matters one iota that the stupid fat lazy American masses are decaying. The glorious elite have enough power to keep society going even if the masses democratically elect morons”

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kia pfp

yes it's the elite (let's call them 'live players' via Samo Burja). but the bottom matters because our main problem is that we don't have enough of these live players. the 'elite and masses' are not two separate phenomena.

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keccers pfp

That’s where the machine cognition comes in. https://warpcast.com/keccers.eth/0x730da782

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kia pfp

is 'machine cognition' in the room with us right now?

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keccers pfp

LMAOOOOO how unsatisfying this conversation must be for you because I can’t actually continue to defend these ideas, as they are not my own! I’m sorry about that bit

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kia pfp

i know. i'm yelling into the etherverse at gods who i only hear via the oracle

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shazow pfp

Conversations with Roko's Basilisk, coming to a podcast app near you.

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