1/ Crypto is the only industry or intellectual realm I've ever waded into in my life where a non-consensus view about something as important as money and the public good is regularly dismissed as some form of piggish envy, resentment, and greed.
2/ What's most dispiriting about this reading and line of attack is that it elevates money & profits above integrity & epistemology.

It embraces cynicism in its highest form by presuming that everyone is playing the same game. That no one cares about truth or is acting honestly.
3/ Of course, this is not true. It's a transitory function of the modern world.

Much of today's pop culture is about giving individuals permission to live selfishly & celebrate their riches at the expense of the broader society in which they live & upon which their lives depend.
4/ The more time I spend immersed in this culture, the more I've come to understand this adaptation as an outgrowth of institutional failure & corruption, existential angst, and a portending sense of societal and even ecological collapse.
5/ And while these underlying causations are important to understand and should arouse our empathy, they do not excuse our adoption of misanthropy and perpetual distrust as organizing principles of modern life.
6/ When I think about the challenges that we are now beginning to encounter, from ecological catastrophes, to refugee crises, to various conflicts, resource wars, & economic dislocations, I cannot help but feel we have yet to really acknowledge the struggles that lie before us.
7/ I wish I had a quick and easy fix to propose, but I don't.

The only thing I know for sure is that global-scale problems like those we face today require some amount of self-sacrifice, love of neighbor, and a commitment towards the common good that we currently seem to lack.
8/ And while Adam Smith's invisible hand has a role to play in this new future, if we want to survive & thrive over the yrs to come, we need to abandon this ahistorical view that government is inherently incompetent & corrupt and that "technology" and markets alone will save us.
10/ I know it's a tall order to ask people to have faith in government again, but it's always darkest before the dawn.

After all, people, organized through government have achieved some of the most incredible feats in human history.
11/ We've been through many decades of decadence, incompetence, & corruption. This won't go on forever, but we've convinced ourselves that this is the natural order of things and that nothing is ever going to change.

This isn't true. It's just a story, and it doesn't serve us.
12/ My objective with @HiddenForcesPod is not only to expose my listeners to new ideas and interesting people, but also to new ways of thinking about the world and the problems we face as a society.
13/ Some of the episodes I'm most proud of deal not with the more heady topics of technology, markets, geopolitics, etc., but with our common humanity.

Episodes on love, morality, self-discovery, purpose, and so on.

I couldn't list them all; there are so many.
14/ This obsession with understanding life as an authoritative experience and us as something more than the sum of our parts has been with me since the very beginning.

My first recording (published as episode 3) was ultimately a mediation on life itself.

hiddenforces.io/podcasts/mark-…
15/ I've been encouraged by how many people continue to seek out the podcast and find resonance & meaning in the topics and stories we cover.

I feel privilege to be in a position to facilitate these conversations and I will continue to do so, until it no longer feels needed.
16/ If you feel the same way, I encourage you to share this thread with others, and to share your feelings and thoughts about the show as a review on @ApplePodcasts.

It's the one place where you can see how many people have been touched by this show. 🙏🏻

podcasts.apple.com/us/podcast/hid…

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More from @kofinas

31 Jan
1/ The evolving r/WSBs story is tailor-made for @HiddenForcesPod.

It combines memes, options, corruption, generational conflict, systemic imbalances of money & power, financial warfare, and social disillusionment.

We've done episodes on ALL OF THESE.

cnet.com/personal-finan…
2/ To the best of my knowledge, we were first in describing this phenomenon as a form of "market nihilism" and we've devoted many episodes to understanding the millennial revolt & mechanics of "the pump."

Of course, our subscribers know this already...

patreon.com/hiddenforces
3/ My next episode on this story will focus on (1) the structural dynamics of the options market that made this latest pump possible and (2) the role played by memes and viral story-telling in helping to incite and coordinate a retail insurgency against Wall Street in real-time.
Read 5 tweets
25 Jan
1/ If you’ve been listening to @HiddenForcesPod over the last few months, you will know that I’ve been wrestling with many emotions as we’ve moved through the 2020 election, past the inauguration and towards the start of a new presidential administration. bit.ly/HF_176
2/ I’ve felt some combination of anxiety, nervousness, distress and sometimes even, anger.

I think these result from the threat I feel emanating from our broken society, as evidenced by not only the assault on the Capitol but by the larger forces that have led us to this moment.
3/ Rather than make an effort to bring our country together, our partisan media and talking heads on cable news outlets find every opportunity to tear it apart.

Likewise, our regulators continue to turn a blind eye to the systemic build-up of risk happening in financial markets.
Read 24 tweets
21 Jan
1/ In other words, there we were confronted not with a whole series of crises and problems, but with one crisis, amounting to a death wish – an urge to self-destruction – seeping into every aspect of our way of life.
2/ A touch of irony is added by virtue of the fact that this Gadarene course is associated with ostensibly optimistic views whereupon the State may be expected to whither away and mankind to live happily ever after.
3/ [...] Searching about in their minds for some explanation of this pursuit of happiness that became a death wish, the archaeologists ... would be bound to hit upon the doctrine of “Progress”: probably the most deleterious fancy to ever take possession of the human heart."
Read 4 tweets
8 Jan
1/ I cannot put into words the heartbreak I feel when I look at what’s unfolding in our country.

We're approaching a precipice. If we don’t find a way to reach some sort of working consensus the situation is only going to become more intractable and quite frankly more dangerous.
2/ The behavior of risk assets in the face of all this uncertainty is perhaps the most alarming data point in a sea of bad news.

There simply is no discernible relationship between value metrics and price. The signaling mechanism sending information between the two is broken.
3/ The French philosopher Jean Baudrillard would have described what we are living through today as "hyperreality," a condition in which what is real and what is fiction or narrative are so entangled that there is no clear distinction between where one ends and the other begins.
Read 9 tweets
3 Oct 20
1/ There is an odd defect in the human mind that allows people living under an enormous dam to suffer little anxiety as the reservoir behind it gradually fills to the brim and the concrete walls crack from the mounting force.
2/ In such circumstances, most people will go about their daily business. The specter of sudden catastrophe will remain unthinkable to them, if only because it has not yet happened―as if the ravages of time were positive evidence, instead of something to worry about.
3/ In the aftermath, the same defect will cause survivors of disaster to blame it all on the trigger event, the unforeseen engineering flaw or earthquake or storm that finally burst the dam and brought the water crushing down.
Read 4 tweets
27 Sep 20
1/ We are entering a period in world history where long-standing territorial disputes—so-called “frozen conflicts” mediated for years by the credible force of American intervention—are igniting in violence.
2/ The chaos in Nagorno-Karabakh could easily get out of control and spread beyond the borders of Armenia and Azerbaijan, becoming yet another proxy war that ropes in Turkey, Russia, and possibly Iran.

3/ There are many such flashpoints around the world. The Taiwan Strait is another. Any breakout in violence there could quickly rope in the United States and its Asian partners into a full-blown military conflict with China.

nationalinterest.org/blog/buzz/chin…
Read 7 tweets

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