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modest proposal
@modestproposal1
, 4 tweets, 1 min read Read on Twitter
The world’s caboose:

“The Ger­man economy rises and falls with China”

wsj.com/articles/germa…
“this reminds you of 2008”
“The current growth rates in China haven’t been so low since the financial crisis”
“Asked colleagues in China last week if there was any ground to be hopeful about the situation in China at the moment. Their answer, he said, was no.”
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modest proposal
@modestproposal1
Multi part investigation into civil asset forfeiture in South Carolina. Horrifying abuse of police power. greenvilleonline.com/in-depth/news/…
Police agencies claiming that without asset forfeiture their funding would be imperiled is disgusting. “The only way we get our K-9 unit is by seizing innocent peoples property”.
19% of people who had property seized were never arrested. Another 20% were charged and not convicted.
Read 12 tweets
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modest proposal
@modestproposal1
This point in @benthompson post today makes me think about Brian Arthur's increasing returns idea, and how aggregators reach tipping points where their power starts accelerating, not diminishing. It's kind of frightening in its implications, but seems to be the case.
@benthompson Which takes me back to another thought I had, which was totally raw and I've been noodling on more, to the extent technology permeates into industries that historically had diminishing returns, what does that mean for industry structures and concentration?
As the quote says, increasing and diminishing returns have always coexisted but is there a point where traditional industries "flip" to increasing returns dynamics? Isn't that what some of these mega funded startups in traditional industries are going after trying to jump worlds?
Read 6 tweets
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modest proposal
@modestproposal1
Have seen this thread a bunch, and it’s good, but I think it underplays why newspapers were so powerful and why they were doomed. Leveraging up in the 90s and being slow to innovate didn’t help, but their fate was determined by technological changes and not managerial decisions.
Have posted this a bunch but Warren Buffett talked about the seismic change in the business proposition of newspapers, in 1991. Already newspaper hold on attention was weakening.
In 2006, Buffett returns to the subject. First joking about the publisher who said “I owe my fortune to two great American institutions: monopoly and nepotism”.
Read 9 tweets

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