Mulling a general idea of a macroeconomics of speed. Imagine an economy where nominal value of goods and services being exchanged, as well as classic transaction costs like search, negotiation, and monitoring costs are near zero. What’s left?

2 things: externalities and speed.
Both regular and crypto economy are tending that way. Supply chain issues often mean the bulk of the price of a thing is a speed premium. To a lesser extent, same with scarce services. Pay more to jump queues. Ditto faster transactions in crypto.
In both cases, the other side of the tradeoff is a major externality: emissions, which might soon be priced in.

Asymptotic condition: everything is free if you can afford to wait long enough. You only pay for speed. The floor of the price might be set by externalities cost.
This is a temporal version of freemium. Everybody gets it for free eventually. Higher tiers get it first.

“Free” is perhaps too strong, a weaker condition is: everything converges to price of raw inputs (Page’s law, a stronger version of commoditization)

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More from @vgr

21 Nov
FAANGprep is like test prep now?
FAANGers really are like the high elves of Rivendell
Startup types = hobbits
Web3 types = dwarves
Old SV/semiconductors = Goblins
Bitcoiners = Orcs
Brand-name programmers = wizards
Influencers = gollums
Politicians = men
Read 10 tweets
18 Nov
Is there a generalization of the law of the excluded middle, where there is a closed set of n MECE propositions and the falsification of 1 proposition, increases the likelihood of the other n-1 in some way? Eg as in Monty Hall problem?
Law of excluded middle concerns a proposition and it’s negation, so the two possibilities are logically related by negation. But in the generalization, we want to drop need this.
If there are an apple and an orange in a bag, and I take out the apple, the orange remains, but ‘apple’ is not the negation of ‘orange’.

In general, n elements that are related only by virtue of constituting a MECE set.
Read 5 tweets
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Now super strong 2000 vibes
That they think they’ll be around another 20y is…impressive hubris.
Read 6 tweets
17 Nov
Anyone else have issues like this with the new MacBooks?
😬 is this the sort of thing that can be managed with an OS update or likely to be a design issue with the chip?
Read 5 tweets
16 Nov
Poll: What currently brewing tech boom interests you the most?
The correct answer is robotics, but I don’t expect everyone to get it yet
The metaverse is not popular
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