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Steve Faktor Profile picture
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14 Dec, 6 tweets, 4 min read
#IWasWrong, a running thread

It's easy to get caught up in our own dogmas & biases. It's also unfashionable to admit mistakes, not knowing something, evolving on an issue, or dismissing someone you shouldn't have.

Here, I'll try to track my mistakes, changed opinions & lessons.
I didn't know much about Malcolm X, nor did I try to learn. I knew of his 'by any means necessary' mantra but defaulted MLK's vaunted alternative. Having watched hours of his speeches, I realize how much truth there is in Malcolm & his ideas.
#IWasWrong

Despite going to Yeshiva, I thought atheism, scientism & skepticism were more evolved than faith. As I watch them devolve into soulless, unforgiving dogmas, I now value faith as a vessel for meaning, values & compassion. Albeit from a distance.
#IWasWrong
A mistake I made & hope others don't is thinking career & material achievements matter more than family - and that you have infinite time to make it happen. It doesn't. And you don't. I've reprioritized. Or, trying to.
#IWasWrong
I've never been impressed by celebrities, sideswiping them with casual quips in my articles. Now, I realize everyone from Kanye to Matthew McConaughey to Kim Kardashian embody lessons worth learning.

#IWasWrong
I wasn't optimistic about getting a Covid vaccine this fast. #IWasWrong to underestimate huge incentives+motivated actors, aka Capitalism.

Imagine what we could do if we used similar measures to solve poverty, healthcare, drug addiction, etc...?

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More from @ideafaktory

Steve Faktor Profile picture
14 Dec
MAGIC MONEY FOREVER (thread)
This is really important and everyone should understand how economists are directing the US economy effectively towards MMT (eg unlimited money printing).

I'll take this on point by point.
theatlantic.com/ideas/archive/…
Until now, we've been living under perverted Keynesianism, where govt spends during busts but fails to save during booms.

The prevailing alternative, austere Austrian economics of limited debt & balanced budgets got hot air, but no liftoff.

Even perverted Keynesianism once feared inflation. Print too many dollars, prices go up, interest rates skyrocket, debt servicing becomes impossible & we default. This has not happened for many reasons. The biggest is debt & $'s are our #1 export.
Read 19 tweets
Steve Faktor Profile picture
2 Dec
The Apple strategy with its new M1 computer chips is analogous to iPhone vs Android.

iPhone's integration of hardware + software + app store has a cohesion that dozens of 3rd party hardware manufacturers can't have with multiple Android versions & loosely-regulated app store.
Google has tried to reign this in by mandating manufacturer standards to get Google Apps, but it leaves much to hardware makers, who are also desperate to differentiate.

#tech #strategy #mobile #innovation
The M1 chip w/integrated RAM/GPU/APU performs better, lets Apple retain premium pricing, but unlikely to shift share.
-market is mature
-*most* software runs well on 6 yo PCs
-new ones are cheap

The 1 exception: if Apple goes HARD after gaming market, where performance matters.
Read 4 tweets
Steve Faktor Profile picture
13 Nov
Hear the enslaved, heed the emancipated

I explored why profit-seekers are unreliable truth-tellers:

I didn't say what to do about it...until now.

A thread on finding TRUTH...
The Emancipated

Very few in society are truly FREE.

Even the richest & most successful are bound by
- social norms
- personal/business obligations
- their perceptions of themselves (remember this one...)

But some are closer to speaking - or SIGNALING - truth than others.
Qualities of The Emancipated:

✅Successful
✅Self-made
✅Wealthy (don't have to work)
✅Perpetual learners
✅Public (seek media/social media attention)
✅Clear motivations

People with this profile are *best positioned* to speak truth & model essential patterns.
Read 9 tweets
Steve Faktor Profile picture
12 Nov
Real problems, atrocious solutions

My response to Elizabeth Warren's thread

1. Paris accord was toothless & symbolic. Yes, we should absolutely be at the table, but hard commitments will only come from clean innovation w/real ROI

2. College debt forgiveness is regressive pandering to elites, where the 70% who don't go to college subsidize the 30% who CHOSE to go & will soon out-earn them. It;s obscene & doesn't solve the real problem.

Some real solutions:

3. Yes, drug prices must be lowered but NOT by removing all incentive to work on important diseases by invalidating patents! (I evaluare negotiation, importation, patent reform & others in The McFuture universal healthcare podcast IdeaFaktory.com/health5)

Read 11 tweets
Steve Faktor Profile picture
17 Oct
Online voting could be done w/bank SSO. You'd sign into a secure, private voting site using your bank's credentials, where you're already verified. Like Google or Facebook login on 3rd party sites. This can also be an opportunity to give accounts & benefit xfers to poor/unbanked.
This is not unprecedented. Companies like Intuit (TurboTax) and Yodlee access your bank, broker and ADP (paycheck) accounts to pull in W-2s and financial account data.
If done on mobile, additional sensors/camera can be used to aid in the verification/authentication process.
Read 4 tweets
Steve Faktor Profile picture
16 Oct
Proposal: New Framework for Section 230 Protections

As social networks increasingly make editorial decisions, are they still "platforms" that should be protected from illegal acts by their users?

My 2 main criteria:
—banning people beyond legal requirements
—post selection

1/4
If banning people and choosing posts (whether human or algorithmic selection), they are publishers and should have comparable legal exposure.

Same even if they don't ban people beyond legal mandates.

If they do neither, section 230 should protect them.

2/4
Trickiest one is no post selection (other than user-controlled), but accounts are banned.

If there's clear banning criteria ("hate" likely too mushy & has no legal standing) AND clear path to redemption, plus some sort of follower portability, a version of 230 should apply.

3/4
Read 6 tweets

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