gringoDan

You might be interested in Erik Hoel's more formal version of this argument: https://www.theintrinsicperspective.com/p/proving-literally-...

Apple gets 15 basis points for purchases made through Apple Pay. If you don't carry a physical wallet/credit cards, that's a huge additional revenue stream they capture.

I don't believe Google has the pricing power to demand a cut of payments (yet), but they need to offer this to keep up with Apple.

Probably not relevant unless you have itemized deductions/donations above the value of the standard deduction.

I'd examine some of the assumptions underlying your post. Specifically, it seems like you want to find meaning in your work and to feel "at home in your job".

The median reader of Hacker News is in a privileged position to be thinking about these things. In an ideal world, we'd all find fulfillment in our work. But for 90%+ of the world, a job is just a way to put food on the table for your family. Mark Manson is "living his dream job" and "still hates about 30% of it". That's just life. [1]

So, here are some questions to ask:

1. What are your values?

2. Related: What is important about work for you? Is it the compensation? Working for a mission you believe in? Solving challenging problems? Being in an environment where you can learn every day?

3. Do you need to find meaning in your work? Or can you create meaning in other areas of your life?

Once you figure out the misalignment here you either:

a) make peace with what you truly value and want from a job, rather than what you assume you're meant to want or

b) correct the misalignment by finding a new position that reflects your values.

[1] https://markmanson.net/screw-finding-your-passion

Fully agree. Some of what we today consider to be the canon of Western philosophy was never meant to be shared widely.

Many of Aristotle's "writings" were just student-created notes of his teachings.

Meditations, from Marcus Aurelius, is a collection of notes to himself on how to best govern as emperor.

The original comment applies more to humanities and business school than to hard sciences. But it's still relevant in STEM.

I got my MS CS from Stanford and this is completely false. I did my BS CS at Georgetown, and even between the two there was a huge difference being at Stanford.

Stanford is probably the best-known school in the world for Computer Science. Georgetown (while a great school) is known for its international relations. So I'm not surprised that Stanford had more CS electives, resources, etc.

But the fair comparison here is a school like UC Berkeley, University of Illinois, or [insert flagship state university here]. Is the quality of education really that different vs. Stanford? Or is the Stanford name brand on the resume the differentiator?

Also, a masters program should be harder and more competitive than an undergrad program!

and more consistently brilliant peers

Exactly. At Stanford, your "consistently more brilliant peers" will be in positions of power down the road. They'll be hiring managers at Google and Apple in <5 years.

Caroline, Alameda's CEO, also said "My advice for college is that class don't matter that much and friends and networking are really important. Probably the most valuable thing you can do in college is find the coolest people you can and spend lots of time hanging out with them".

This is mainstream advice if you're at an Ivy, Stanford, etc. You're learning the same material as the people who go to a state university. The advantage is the proximity to power, the people you rub elbows with who can help your career down the line.

This is the entire premise of elite business schools – nobody is dropping $100k/year for the content that you can get on YouTube for free.

Some level-headed commentary on the developing situation via Cas Piancey and Bennett Tomlin: https://www.youtube.com/watch?v=B2UFswUMQqI

TRM Labs | Multiple Roles: Frontend, Backend, Full Stack, Data Science, Operations | Full-time | REMOTE

TRM Labs is a blockchain intelligence company with a mission to build trust in digital assets by preventing crypto-based fraud and financial crime. We recently raised a $60M Series B and are scaling quickly. We are hiring across ML engineering, data science, front-end, back-end, operations, and sales.

We currently operate fully remotely from locations around the world. Find out more about our culture and open roles here: https://trmlabs.com/careers

I'm hiring for a few different Data Science roles on my team (Analytics, Cryptoeconomics, etc). Note that we're looking for a few years of experience – we're not yet at the stage where we can take on new grads or interns. No previous crypto experience necessary.

Email: dan@trmlabs.com

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Reminds me of the old line that there are 4 types of economies:

1. Developed

2. Underdeveloped

3. Japan

4. Argentina

If cars were invented today, they would be illegal.

We give 16-year-olds minimal training, then entrust them with the control of a 3,000 lb. weapon for the rest of their lives. You can be an awful driver, but even if you get into multiple accidents, your license will rarely be taken away.

If cars had not been invented, we would have designed 20th century cities around people, rather than the automobile. We'd have a robust public transportation network that would all but eliminate the need for cars, at least in cities and suburbs (see Japan).

Between the death toll and the alienation from living in places designed for cars, I'm not sure if the car has been a net positive for society.

For an interesting explanation of why rents are affordable in Chicago, see this post from Tyler Cowen: https://marginalrevolution.com/marginalrevolution/2018/02/ch...

"I would put it this way: there are many ways to impose a Georgist land tax, fiscal insolvency being one of them. Very wealthy people and institutions know that if they relocate to Chicago, they will be required to ante up for the final bill. And so they stay away. For a city of its size and import, Chicago just doesn’t have that many billionaires, nor do I think a rational billionaire should consider moving there.

In other words, there is a pending wealth tax. Either directly or indirectly, this will place fiscal burdens on Chicago land, the immobile factor. And this keeps down rents in Chicago now."

I struggle with this as well. But the feeling of shouting into the void has little to do with your writing ability. It’s much more a function of a) marketing and b) luck.

If you’re writing, it’s because you have the inkling of an idea. Through the writing process, you clarify that idea and then release it to the world. That process — the act of creation — is enough for me.

I think we're starting to see travel fatigue. When the author was backpacking 20 years ago, there was still enough friction in movement and communication that travel had some mystique. You weren't connected to the rest of the world 24/7 through constant internet access on your phone.

Back then, friends' stories from a trips abroad were a bit exotic. Now, we're less impressed by travel. You can get a $300 airfare from the East Coast of the US to Europe, making a trip to Barcelona as easy and cheap as a weekend jaunt to Chicago. We've all seen a million photos of places that you went, in much higher quality via Instagram and YouTube.

Reminds me of this post: https://markmanson.net/the-death-of-tourism

Trends will move on and the younger generations will one day make fun of their millennial parents/aunts/uncles for wasting their money on trips to Burning Man and Tulum, and the more the tourism industry will suffer. Not to mention the backlash from the environmental/climate/cultural considerations mentioned above. I think Millennials were the “peak travel” generation and we’re going to appear lame and crusty just like our parents’ obsession with McMansions in the suburbs seems lame to us.

Then again, apparently this will be the biggest tourism summer ever (given pent-up demand due to COVID), so what do I know.

Recommend following Peter Zeihan, who has been talking about this for months: https://zeihan.com/a-ukraine-war-and-the-end-of-russia/

I would never recommend visiting Dallas, it's a dull city, but as far as places to live it's far surpassed my expectations.

I think this point is key. When your day-to-day is spent staring at a laptop, it doesn't really matter where you live.

I used to live in NYC. I loved it; great city to be in your 20s. But I left due to COVID. Since then, I've returned to visit a handful of times and realized that visiting NYC is probably better than living there. In a long weekend, I'm able to visit great restaurants, see a show, and catch up with friends. Essentially, I pack the social activities that I would have spread out over a month into 3 days. Then in my day-to-day, I don't have to pay Manhattan rent, fight the crowds on the subway, or deal with all of the friction the city has.

Great deep dive. Those that decry the US for not having a rail network comparable to Europe's only consider the passenger side of the equation. We have perhaps the best freight railroad network in the world.

For a related application of this concept, highly recommend The Ones Who Walk Away From Omelas, by Ursula LeGuin (10 min read).

http://shsdavisapes.pbworks.com/f/Omelas.pdf

TRM Labs | Multiple Roles: Frontend, Backend, Full Stack, Data Science, Operations | Full-time | REMOTE

TRM Labs is a blockchain intelligence company with a mission to build trust in digital assets by preventing crypto-based fraud and financial crime. We recently raised a $60M Series B and are scaling quickly. We are hiring across ML engineering, data science, front-end, back-end, operations, and sales.

We currently operate fully remotely from locations around the world. Find out more about our culture and open roles here: https://trmlabs.com/careers

I'm hiring for a few different Data Science roles on my team (Analytics, Cryptoeconomics, etc). Note that we're looking for a few years of experience – we're not yet at the stage where we can take on new grads or interns. No previous crypto experience necessary.

Email: dan@trmlabs.com

LinkedIn: https://www.linkedin.com/in/reardondaniel/

I agree with this to a certain extent. But it seems like this economic downturn is more a result of pumping the economy full of (near) zero-interest rate money and that cash inflating a growth stock bubble, as opposed to a tech bubble being inflated by VCs directly.

In an economic downturn, VCs are going to have more power and preach more financial prudence. But VCs are awash in capital right now.[1] Their money needs to flow somewhere in order to provide a return to their LPs. How does that factor into this analysis?

My hypothesis is that the negative unit-economic businesses that the article refers to will falter, but there are plenty of early-stage startups (the ones that didn't need a multi-billion dollar round from Softbank to win their category) that will be fine.

[1] https://pitchbook.com/news/articles/vc-fundraising-venture-c...

I think this phenomenon is part of the reason it's difficult to form friendships as adults. The shared context that the article mentions requires a lot of time around your circle of people, just "hanging out". It's tough to make that time as an adult with a career, family, etc.

This may be why college friendships can be so strong – often a lot of time is spent living and working around friends by default, without needing to schedule it.

Correct. Price of BTC denominated in Tether goes up, price of BTC denominated in USD likely goes down, as a) Tether liquidates crypto assets to cover redemptions and b) people sell off their crypto assets due to uncertainty/fear in the market.

USDC is legit: https://www.centre.io/usdc-transparency

So assume Tether loses its peg. Worst-case:

1. Anyone holding Tether tries to cash out. Whales and important customers are allowed to redeem USDT for USD at a 1:1 ratio. Tether sells its crypto and other assets to cover redemptions, driving down the price of those assets.

2. Eventually Tether limits the withdrawals.

3. You're stuck with Tether you can't withdraw. What do you do? Try to exchange it for BTC or ETH ("blue-chip" crypto), which you can then hold or cash out on an exchange that is USD- or USDC-denominated.

4. Any exchange with Tether-denominated crypto prices are going to see those prices EXPLODE as there will be no sellers of the crypto. So you'll see some sort of weird market where BTC on Bitfinex costs $500k but BTC on Coinbase costs $10k.

5. If you're still stuck with Tether, you lose all your money or everything gets tied up in court a la Mt. Gox.

EDIT:

Fun potential #6 - if you're holding crypto on an exchange with Tether exposure, they may not allow withdrawals. The holder of the private keys may seize your assets to cover their debts.

Not sure how likely this scenario is, but even Coinbase (about as regulated as it gets in crypto) recently admitted that its bankruptcy could wipe out user funds: https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-as...

Any stablecoin that is NOT backed 1-1 by fiat, correct? I.e., algorithmic stables. If you're 100% collateralized by USD in your bank account, how can it get de-pegged?

The problem here is that everyone in the crypto industry is taking George Soros's approach to bubbles: “When I see a bubble, I rush in to buy it.”

There is more money to be made on the gravy train of providing liquidity for trades, yield farming, etc. than in trying to short Tether and potentially bleeding out before it goes bust.

TRM Labs | Multiple Roles: Frontend, Backend, Full Stack, Data Science, Operations | Full-time | REMOTE

TRM Labs is a blockchain intelligence company with a mission to build trust in digital assets by preventing crypto-based fraud and financial crime. We recently raised a $60M Series B and are scaling quickly. We are hiring across ML engineering, data science, front-end, back-end, operations, and sales.

We currently operate fully remotely from locations around the world. Find out more about our culture and open roles here: https://trmlabs.com/careers

I'm hiring for a few different Data Science roles on my team (Analytics, Cryptoeconomics, etc). Note that we're looking for a few years of experience – we're not yet at the stage where we can take on new grads or interns. No previous crypto experience necessary.

Email: dan@trmlabs.com

LinkedIn: https://www.linkedin.com/in/reardondaniel/

I've been working like this for the past year and a half. I'll never go back to a "normal" office environment.

Winners in this new paradigm: Owners of real estate in lifestyle towns like Boise, Boulder, etc. I also think borders between the US and Latin America (same/similar time zones) will become a lot more fluid. Why not work in Mexico City or Buenos Aires during the winters, for a fraction of the cost of living in the US?

TRM Labs | Multiple Roles: Frontend, Backend, Full Stack, Data Science, Operations | Full-time | REMOTE

TRM Labs is a blockchain intelligence company with a mission to build trust in digital assets by preventing crypto-based fraud and financial crime. We recently raised a $60M Series B and are scaling quickly. We are hiring across ML engineering, data science, front-end, back-end, operations, and sales.

We currently operate fully remotely from locations around the world. Find out more about our culture and open roles here: https://trmlabs.com/careers

I'm hiring for a few different Data Science roles on my team (Analytics, Cryptoeconomics, etc). Note that we're looking for a few years of experience – we're not yet at the stage where we can take on new grads or interns. No previous crypto experience necessary.

Email: dan@trmlabs.com

LinkedIn: https://www.linkedin.com/in/reardondaniel/

TRM Labs | Multiple Roles: Frontend, Backend, Full Stack, Data Science, Operations | Full-time | REMOTE

TRM Labs is a blockchain intelligence company with a mission to build trust in digital assets by preventing crypto-based fraud and financial crime. We recently raised a $60M Series B and are scaling quickly. We are hiring across ML engineering, data science, front-end, back-end, operations, and sales.

We currently operate fully remotely from locations around the world. Find out more about our culture and open roles here: https://trmlabs.com/careers

Several open positions aren't yet listed on the site, so feel free to reach out to me directly to chat! I'm hiring for a few different Data Science roles on my team (Analytics, Cryptoeconomics, etc.). Note that we're looking for a few years of experience – we're not yet at the stage where we can take on new grads or interns.

Email: dan@trmlabs.com

LinkedIn: https://www.linkedin.com/in/reardondaniel/