Why would someone start a limited conflict with a stronger power, then not make peace when offered? In a peacetime state they’d be vassals, but in a cold war state they can pretend to themselves they are equals.
This is the yapping dog problem, very common on social media.

The tell is the combination of (a) starting the fight, (b) engaging in histrionics over trivialities, and (c) refusing to make peace or engage rationally.

It actually stems from insecurity. The fight elevates them.
What the attacker characterizes as “punching up” is what the defender views as a yapping dog. Annoyance and bemusement on one side, resentment and envy on the other.

A yapping dog will start the fight & provoke, provoke, provoke…then when they get slapped, cry bloody murder.
It’s tempting to appease a yapping dog once they suddenly start bawling, but that doesn’t work. It feeds the victimhood complex.

Give them the verbal back of the hand once if you want, but then ignore. They’re fighting with storm clouds in their head, not anything you did.

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More from @balajis

29 Oct
FaceID scans hundreds of millions of faces per day. Can we articulate a difference between that vs Worldcoin, or any similar opt-in technology for proof-of-human?
If you run any service with more than a few trusted users, you'll immediately discover the need for some kind of proof-of-human. Not necessarily the state's old-fashioned and bureaucratic KYC impositions, but *something*. Otherwise you'll have bots, frauds, trolls, fakes, etc.
If you've ever taught a class, you have a point of view that a perpetual student alone does not.

Similarly, if you've ever built a service, you understand something a pure user does not.

One of those things is founder/user/community disalignment (1/2).
Read 6 tweets
29 Oct
The ledger of record.

How do we know what is true? We're transitioning from mere assertion by media corporation to decentralized cryptographic verification.
How important is metadata, anyway?

Well, a corporate journo basically called for invading Brazil after he saw a photo of fires. Then a verifiable timestamp proved the photo was actually taken at least 15 years prior. Encryption may even prevent invasions.
Read 4 tweets
29 Oct
Everyone becomes an investor, in part because everyone must become an investor.
High inflation & low interest rates push people into high risk/high reward investments just to stay above water.

Same dynamic as the 2010s, except next level. Rather than endowments investing in startups via VCs, it's everyone investing in cryptocurrencies on their own.
If inflation is 6% and the bank is paying you basically 0%, you need to start finding investments at 7% just to keep your head above water.

The MMT people are thus driving all investment into high risk/high return areas: technology and cryptocurrency.
Read 5 tweets
29 Oct
Zuck & Jack are the Gates & Jobs of this era. Truly great founders who built and ran organizations through multiple decades and tech transitions.

Now they're pivoting to web3 and Bitcoin respectively, while founderless web2 companies of similar vintage are not gonna make it.
Parallels can be overdone but there are quite a few. Zuck, like Gates, a Harvard dropout. Jack, like Jobs, founded a second company and won back his first. Zuck with the massive middle class-oriented vehicle, Jack with the eye for culture and the attention of the intelligentsia.
Recent podcast with all new content where I talk through the impact of cryptocurrency and decentralization on all legacy tech firms, and why Jack and Zuck are perhaps the only two founders of that generation that fully get it.
Read 4 tweets
29 Oct
Meta comment on Meta

Notice that Zuck went direct with his announcement. And when he decided to give an interview, he gave it to a smart independent like Stratechery, not a legacy media corporation. And it's a good interview.
stratechery.com/2021/meta/
Go watch Zuck's keynote.

Because it's not just a talk on the metaverse. It's about standing firm in the face of a nation state attack — by the US government — and articulating a vision for the future that's about building, not banning. facebook.com/facebookrealit…
Always remember that the establishment organs that seek to "protect" you from ostensible misinformation on Facebook are the same ones that told us there were WMDs in Iraq.
Read 5 tweets
28 Oct
Meanwhile, in India...we're seeing a free market renaissance?

"...privatizing state-owned enterprises...overhauling taxes, relaxing foreign direct investment rules and deregulating labor and agriculture markets."
archive.md/pjhDh
As I've said, I am only moderately bullish on the Indian state. As the saying goes, India disappoints both the optimists and the pessimists.

But there is a dark horse chance that by 2030 it's the *least bad* of the big three relative to China and the US.
It's important to remember how long a period a decade is. Ten years ago, Bitcoin was at $1. A lot can change.

An achievable vision for India may turn out to be that it is a reasonable home base *and* more friendly to emigrants than either the US or PRC.
Read 8 tweets

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