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Trillions for everything but stopping the virus. This is what happens when capital is allocated politically rather than intelligently.
marginalrevolution.com/marginalrevolu…
In pharmacology there's the concept of bioavailability. You may take a drug, but are your cells actually seeing it or is it being excreted somehow?

Same idea applies to capital. The state may spend money, but it's not bioavailable. Can't be precisely allocated to hit a target.
Nothing is more costly than incompetent leadership.
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More from @balajis see all

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Balaji S. Srinivasan
@balajis
What does the 10X version of the NYT look like?

- revision control for all articles
- open source NLP tools
- reproducible journalism, with citations
- citizen rather than corporate journalists
- decentralized fact checking via proof-of-X

We do need a better truth machine…
I think the answer is not a new media company. It's a new media community, with fundamentally different premises.

Global, not East Coast
100 people part-time, not 1 person full-time
Scientific depth over narrative

Media representative of the people, because it is the people.
An earlier thread on revision control for articles.
Read 8 tweets
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Balaji S. Srinivasan
@balajis
The analogy of a "health outage" to a "power outage" is interesting.

We know that our society is premised on access to electricity. And what fails if the power goes out.

But our society is also indirectly premised on access to health. So, what fails if the health goes out?
That's how the term public health arose. Health as a public good. Like water, roads, power, internet.

Something you take for granted to have a functioning society.

The 2020 economy isn't prepared for a protracted "health outage", anymore than it has a huge stockpile of candles.
Health outages in the form of persistent infectious disease invalidate the premises underpinning:

- retail
- travel
- hotels
- restaurants
- bars
- concerts
- sharing economy
- large crowds of any kind

Just like a power outage, health is needed for these sectors to function.
Read 5 tweets
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Balaji S. Srinivasan
@balajis
Green zones will have higher long-run economic growth than red zones. They tend to have:

- competent states
- high trust societies
- savings to weather lockdown
- respect for science
- smart use of tech
- future time orientation

Hong Kong is an exception. But this is the trend.
You have to think a few steps ahead. Simply opening the economy won't bring the customers back. Red zones will be under de facto domestic and international sanction. Capital and talent will avoid these places, and leave if they can.
If you believe that the New Zealand strategy of containment is optimal, but the US is too incompetent to achieve it, you might have to resort to the Snow Crash Strategy.

Communities & companies buy tests, build green zones, establish cordon sanitaires.
Read 3 tweets

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