"artists can no longer appear real on their own" – a perverse notion of centralized platforms becoming gatekeepers for identity/authenticity verification...?
eh, the problem was that anyone thought appearance was reality to being with...
to whatever extent there's a crisis in the authenticity and verification of (mis/dis)information, it's concentrated among non-internet natives – i.e. Millennials/Zoomers aren't the problem 👇
...my point isn't inter-generational spats; it's creators/artists/brands growing more empowered than ever, with their owned-and-operated destinations (e.g. O&O websites and to some extent social followings) becoming ever more important primary sources for verification
...farbeit from @drorpoleg's "it makes the most charismatic people dependent on corporate platforms in order to exist", it goes differently (doubly) for incumbent creators/artists/brands as opposed to new entrants/upstarts 👇
Kids these days (😏) know how to and do verify whether that hot new song is Drake himself; licensed by Drake himself; or generative AI unauthorized by Drake himself – so the content commons aren't dependent on platforms as "artificial monopolies" of authentication
🏁/8
...TLDR (cont'd):
but that doesn't mean that platforms cannot and should not facilitate authentication/verification/identification as a service for producers and consumers alike – Trustless Verification can help remove centralized platform risk 👇
It's worth adding to these $sivb snippets from @matt_levine and @benthompson – particularly Stratechery's "The End of Silicon Valley (Bank)", which was more nuanced than it sounds:
🅰️ I-95 Belt:
One thing that sank Greater Boston's thriving minicomputer/hardware/tech ecosystem was lack of (local) reinvestment – winners cashed-out vs SV VCs/founders continually reinvest time and money #flywheel
🅱️ SVB Bank Run:
VCs ran-the-gamut fm posterboys to paperboys to cheerleaders to D-linemen – that the outsized impact of a few snowballed to the many isn't signal of SV's downfall as much as classic panic
"The historical linkage between corporate tax rates and investment growth is non-existent [almost zero, but the correlation] between [interest] rates and investment actually has the wrong sign [they're positively correlated]"
"when profits are growing, so does investment [which] also shows a stronger connection with growth expectations – when CEOs expect stronger growth they also are planning higher levels of capex growth"
· (fractional) reserve rates were a thing until GFC 2008, and obsoletion redoubled during COVID 2020 when reserve requirements were suspended/lowered to zero
· since reserves are now abundant, POMOs and SOMAs can't influence FFR anymore
/3
...money multiplier myths (cont'd):
· in the Fed's modern "ample-reserves regime... IORB serves as a reservation rate, and affects market interest rates [via arb]...influences banks' decisionmaking about setting deposit and loan rates...lending and investment"
Why isn't increasing equity market implied correlation/comovement (and hence kurtosis) more attributable to rising financialization than specific passive/active share – i.e. stock market is increasingly a macro proxy instead of a collection of idiosyncratic stocks...?
... Twitter safe spaces are Twitter Communities and Twitter Spaces is Twitter talk and Twitter's edit button is Twitter's Delete Tweet and Twitter's Vine was Periscope but is now TikTok – you're taking notes, right?!