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Biden opened his address saying that Ukraine is now a front line battle in the fight between autocracy and democracy, casting Russia's invasion of its neighbor as part of the decades-long battle that has played out between the West and the Kremlin."My message to the people of Ukraine is ... we stand with you. Period," said Biden.

"America's ability to meet its role in other parts of the world rests upon a united Europe and a secure Europe," Biden said Saturday as he met with Polish President Andrzej Duda in Warsaw. "We have learned from sad experiences in two world wars, when we've stayed out of and not been involved in stability in Europe, it always comes back to haunt the United States."Biden's comments came during the final day of a last-minute trip to Europe aimed at synchronizing how Western allies address Russia's aggression against Ukraine. Biden and Duda spent a lengthy stretch in a one-on-one meeting before beginning an expanded session with aides. Biden said he raised the world war comparisons during the private meeting.

The President's comments are a sharp contrast from the "America First" foreign policy of former President Donald Trump, who called NATO "obsolete" before he came into office and often questioned the value of American alliances with European nations. Trump's time in office was marked by his spats with foreign leaders and the often-contentious nature of his dealings with traditional American allies in Europe and across the globe.

As it got underway, Kuleba described an arduous journey from Kyiv to Warsaw that included a train and three hours in a car."It's like flying from Kyiv to Washington with a connecting flight in Istanbul," Kuleba said. "The good thing is that since the beginning of the war I've learned how to sleep under any conditions. So I slept on the train, I slept in the car."

Ukraine has been pressuring the US and NATO to increase the military assistance they are providing to Ukraine, including calls from President Volodymyr Zelensky to establish a no-fly zone.After talks in Brussels this week, during which Zelensky appeared virtually, it did not appear NATO members had warmed to the idea. Biden has said becoming more directly involved in the conflict could usher in World War III.That left Ukraine's leaders dismayed. "We are very disappointed, in all honesty. We expect more bravery. Expected some bold decisions. The alliance has taken decisions as if there's no war," said Andriy Yermak, head of the Office of the President of Ukraine, in a live interview with the Atlantic

Biden met with chef José Andrés and other volunteers in Warsaw Saturday at a food distribution site for Andrés' World Center Kitchen, the nonprofit devoted to providing meals in the wake of disasters. Biden met with some of the volunteers, some from Europe and some from the United States."God love ya," the President could be heard saying to them and asking if he could help them.

The Polish President added that Biden's visit "demonstrates a huge support and also a big significance attached by the United States to the stability and world peace, to reinstating the peace where difficult situations are happening in places where somebody resorts to acts of aggression against other democratic and free nations -- as it is happening today against Ukraine where the Russian aggression, unfortunately, happening for a month now is effect."This story has been updated with additional developments on Saturday.

In the Mazars subpoena case, which still hasn't been resolved, the courts need to weigh Congress' powers and the presidency."We've got to look at this not as musical chairs, who's changing, who's withdrawing, and who's leaving office and so forth," Henderson added on Thursday. The appeals court isn't likely to rule for months, and any outcome could still be appealed to the Supreme Court or head through multiple additional rounds in lower-level courts.

grants membership only by unanimous consent.

Mr. Putin is trying to distract from more urgent matters.

Mr. Biden successfully urged NATO to accept Poland, Hungary and the Czech Republic as member states in the late 1990s. The top Democrat on the Senate Foreign Relations Committee at the time, Mr. Biden said that turning the former Cold War adversaries into allies would mark the “beginning of another 50 years of peace” for Europe.

we support Ukraine membership in NATO.

Officials in European nations with stronger liberal governance — notably in Sweden and Finland — have also floated the possibility of joining NATO

After annexing Crimea, Mr. Putin invaded eastern Ukraine and gave military aid to a separatist insurgency there. He did something similar in Georgia in 2008.

Mr. Biden blew past those comments without responding.

Fredrick Douglass drew on both strands of this debate, arguing in 1850 that “Liberty and Slavery” were both in the Constitution, giving us a constitution fundamentally “at war with itself.”

the First Inaugural where Lincoln argued that the states did not have a constitutional right to secede, particularly on the grounds that they did not like the results of the election of 1860. The states might have a revolutionary right to dissolve the constitutional order and create a new one, but to secede because Lincoln was elected president when he had in no way altered the terms of the social contract was to evade the rules and break the constitutional order he was obligated to defend.

I think Lincoln’s First Inaugural is a powerful and compelling work of constitutional analysis. Lincoln’s message in the First Inaugural was twofold. First, he reiterated the compromise. Each state had a right to “control its own domestic institutions” (meaning, of course, slavery). All representatives had sworn an oath to support “the whole Constitution,” which obligated them to adhere to the fugitive slave clause as part of the compromise and not try to evade its terms by “hypercritical rules” of interpretation

But Lincoln went on to insist that no part of the Constitution had been violated. Given this, he argued that secession against a constitutional majority would be “the essence of anarchy.” If states could secede after an election rather than “acquiesce” to a free and fair election, then democratic government by a constitutional majority was no longer possible.

Once ballots had settled the issue, states were constitutionally bound to oblige. Appealing to bullets was, as Lincoln put it, a “revolutionary” act that broke the constitutional order he had sworn an oath to uphold.

Feldman points out that Lincoln’s insistence on a majority as the sovereign was quite different from the Framers’ understanding of the sovereign, which they tended to treat as the whole people.

We might best understand this as a question of who is sovereign within the constitutional order, which is separate from who can act to dissolve the constitutional order itself

The most visible element of this debate was whether individual states were sovereign in the latter capacity: Could they exit the constitutional order? And if they could not constitutionally leave, did the national government have power to keep them in?

Whether America was a union founded by We the People or was a union founded by sovereign states was the subject of fraught debate in the antebellum period.

the prolonged struggle forced Lincoln to confront the fact that the Union could not be brought back together on the terms of the old compromise.

Feldman also highlights Lincoln as a theorist of constitutional necessity, as he is forced to confront thorny constitutional issues with no easy answer, which includes a detailed examination of Lincoln’s occasional overreach. Not only was his suspension of the writ of habeas corpus wider than necessary, but it included, Feldman writes, suspending “the basic constitutional right to free speech” and locking up critics of the war far more extensively than is usually acknowledged

Emancipation would be made permanent with the Thirteenth Amendment, abolishing slavery and destroying the compromise at the heart of the original Constitution: “The greater drama of the passage of the Thirteenth Amendment was its transformation of the prewar, compromise Constitution into a new Constitution that repudiated the very core of that compromise as it had existed from 1787 to 1861.” This second founding culminated in the Fourteenth and Fifteenth Amendments, inscribing the principles articulated in the Declaration and reaffirmed by the Gettysburg Address into constitutional text.

Americans—particularly those Americans who think patriotism depends on a belief in an infallible founding and a perfect Constitution—too easily gloss over how “complicated, contradictory, and fraught it was for Lincoln and the nation to overcome [the old] Constitution and remake it.”

the Telluride workshops were being organized by two college-age students, filled with the spirit of the times

From what I gleaned, they involved crudely conveying certain dogmatic assertions, no matter what topic the workshops were ostensibly about:Experiencing hardship conveys authority. There is no hierarchy of oppressions—except for anti-black oppression, which is in a class of its own. Trust black women.Prison is never the answer.Black people need black space.Allyship is usually performative.All non-black people, and many black people, are guilty of anti-blackness.There is no way out of anti-blackness.

It is tempting to add: Such is life. Such is democratic life. We each have different, partial knowledge. We each get things wrong, over and over. At our best, we enter the fray by listening to each other and complementing and challenging the insights of our fellows. In the process, over years, decades, we are oriented toward justice and truth.

Specific words, phrases, arguments, and images from a text offer essential friction for conversation, holding seminar participants accountable to something concrete.

The seminar assumes that each student has innate intelligence, even as we come from different backgrounds, have different amounts and sorts of knowledge, and different skills. We can each be formed best if we take advantage of our differing insights to push each other, over time, again and again. When this practice is occasioned by carefully curated texts—not exclusively “great books,” but texts that challenge each other and us as they probe issues of essential importance—a seminar succeeds.

Each intervention in a seminar is incomplete, and gets things wrong. Each subsequent intervention is also incomplete, and also gets things wrong. But there are plenty of insights and surprises, for each participant looks at a text with different eyes

By its nature, a seminar requires patience. Day by day, one intervention builds on another, as one student notices what another student overlooked, and as the professor guides the discussion toward the most important questions

The effects on the seminar were quick and dramatic. During the first week, participation was as you would expect: There were two or three shy students who only spoke in partner or small-group work, two or three outspoken students, and the rest in the middle. One of the black students was outspoken, one was in the middle, and one was shy. By the second week of the seminar, the two white students were effectively silent. Two of the Asian-American students remained active (the ones who would soon be expelled), but the vast majority of interventions were from the three black students. The two queer students, one Asian and one white, were entirely silent

“Two of the Asian-American students would be expelled from the program.”In the 2022 anti-racism workshops, the non-black students learned that they needed to center black voices—and to shut up.

If the seminar is slow food, the anti-racist workshop put on by college-age students is a sugar rush. All the hashtags are there, condensed, packaged, and delivered from a place of authority. The worst sort of anti-racist workshop simply offers a new language for participants to echo—to retweet out loud.

In their “transformative-justice” workshop, my students learned to name “harms.”

In the language of the anti-racism workshop, a harm becomes anything that makes you feel not quite right. For a 17-year-old at a highly selective, all-expenses-paid summer program, newly empowered with the language of harm, there are relatively few sites at which to use this framework. My seminar became the site at which to try out—and weaponize—this language.

John McWhorter asserts that anti-racism is a new religion. It was an idea I quickly dismissed. Last summer, I found anti-racism to be a perversion of religion: I found a cult

the features of cults have become familiar in popular culture. There is sleep deprivation. Ties to the outside world are severed. The sense of time collapses, with everything cult-related feeling extremely urgent. Participants are emotionally battered. In this weakened state, participants learn about and cling to dogmatic beliefs. Any outsider becomes a threat.

The feature of a cult that seems to be missing from this story is a charismatic leader, enforcing the separation of followers from the world, creating emotional vulnerability, and implanting dogma. Enter Keisha

Pushing anti-racism to its limits, what we reach isn’t just hollow doctrine, but abuse: Pathological relationships that cut us off from the world, from the give-and-take of reasons and feelings unfolding over time that makes up life in the world.

We see this crystal clear in the paradoxes that I encountered

The experience was supposed to be organized around a “transformative justice,” rather than a punitive model, yet the community managed to expel two of its members.

Students continually voiced their desire to find practical actions to help change the world, but after four weeks, they had learned to say that anti-blackness is so foundational, the world could never change

The students wanted freedom, for themselves and for all, but they started to say that the only route to freedom is indoctrination: having me tell them what to think.

Saddest of all, for me, was hearing what the black students said. They needed extra help, they were struggling to understand anything from the readings, and they couldn’t even know what questions to ask unless they had guidance—first Keisha said this, then the black students said it, then their “allies” repeated it in solidarity with them

Parliament is the sovereign apex of the nation’s democratic government. Its credibility depends upon the executive telling the truth to MPs, and through them the nation. If Johnson did not do that, especially in the circumstances of a killer pandemic in which obeying the rules was so paramount, he must pay the price.

That he ought to have erred on the side of strictness – in the way that the Queen and so many millions of others so visibly did – seems never to have occurred to him.

The simple truth is that building something valuable — whether that’s knowledge, experience or a network worth participating in — is really, really hard. But tearing it all down is piss easy.

It almost doesn’t matter if this is deliberate sabotage by Musk or the blundering stupidity of a clueless idiot.

In theory, a robot could be trained on data drawn from computer-simulated movements, but there, too, you must make trade-offs

Jang compared computation to a tidal wave lifting technologies up with it: AI is surfing atop the crest; robotics is still standing at the water’s edge.

Whatever its causes, the lag in robotics could become a problem for AI. The two are deeply intertwined

But the biggest obstacle for roboticists—the factor at the core of Moravec’s paradox—is that the physical world is extremely complicated, far more so than languag

Some researchers are skeptical that a model trained on language alone, or even language and images, could ever achieve humanlike intelligence. “There’s too much that’s left implicit in language,” Ernest Davis, a computer scientist at NYU, told me. “There’s too much basic understanding of the world that is not specified.” The solution, he thinks, is having AI interact directly with the world via robotic bodies. But unless robotics makes some serious progress, that is unlikely to be possible anytime soon.

For years already, engineers have used AI to help build robots. In a more extreme, far-off vision, super-intelligent AIs could simply design their own robotic body. But for now, Finn told me, embodied AI is still a ways off. No android assassins. No humanoid helpers.

Set in the context of our current technological abilities, HAL’s murderous exchange with Dave from 2001: A Space Odyssey would read very differently. The machine does not refuse to help its human master. It simply isn’t capable of doing so.“Open the pod bay doors, HAL.”“I’m sorry, Dave. I’m afraid I can’t do that.”

Teachers are not only burnt out and undercompensated, they are also demoralized. They are being asked to do things in the name of teaching that they believe are mis-educational and harmful to students and the profession. What made this work good for them is no longer accessible. That is why we are hearing so many refrains of “I’m not leaving the profession, my profession left me.”

We find there are at least 36,000 vacant positions along with at least 163,000 positions being held by underqualified teachers, both of which are conservative estimates of the extent of teacher shortages nationally.

“The current problem of teacher shortages (I would further break this down into vacancy and under-qualification) is higher than normal.” The data, Nguyen continued, “indicate that shortages are worsening over time, particularly over the last few years

a growing gap between the pay of all college graduates and teacher salaries from 1979 to 2021, with a sharp increase in the differential since 2010

The number of qualified teachers is declining for the whole country and the vast majority of states.

Wages are essentially unchanged from 2000 to 2020 after adjusting for inflation. Teachers have about the same number of students. But, teacher accountability reforms have increased the demands on their positions.

The pandemic was very difficult for teachers. Their self-reported level of stress was about as twice as high during the pandemic compared to other working adults. Teachers had to worry both about their personal safety and deal with teaching/caring for students who are grieving lost family members.

the number of students graduating from college with bachelor’s degrees in education fell from 176,307 in 1970-71 to 104,008 in 2010-11 to 85,058 in 2019-20.

We do see that southern states (e.g., Mississippi, Alabama, Georgia and Florida) have very high vacancies and high vacancy rates.”

By 2021, teachers made $1,348, 32.9 percent less than what other graduates made, at $2,009.

These gaps play a significant role in determining the quality of teachers,

Sixty percent of teachers and 65 percent of principals reported believing that systemic racism exists. Only about 20 percent of teachers and principals reported that they believe systemic racism does not exist, and the remainder were not sure

“We find,” they write, “that teachers’ cognitive skills differ widely among nations — and that these differences matter greatly for students’ success in school. An increase of one standard deviation in teacher cognitive skills is associated with an increase of 10 to 15 percent of a standard deviation in student performance.”

teachers have lower cognitive skills, on average, in countries with greater nonteaching job opportunities for women in high-skill occupations and where teaching pays relatively less than other professions.

the scholars found that the cognitive skills of teachers in the United States fell in the middle ranks:Teachers in the United States perform worse than the average teacher sample-wide in numeracy, with a median score of 284 points out of a possible 500, compared to the sample-wide average of 292 points. In literacy, they perform slightly better than average, with a median score of 301 points compared to the sample-wide average of 295 points.

Increasing teacher numeracy skills by one standard deviation increases student performance by nearly 15 percent of a standard deviation on the PISA math test. Our estimate of the effect of increasing teacher literacy skills on students’ reading performance is slightly smaller, at 10 percent of a standard deviation.

How, then, to raise teacher skill level in the United States? Hanushek and his two colleagues have a simple answer: raise teacher pay to make it as attractive to college graduates as high-skill jobs in other fields.

policymakers will need to do more than raise teacher pay across the board to ensure positive results. They must ensure that higher salaries go to more effective teachers.

The teaching of disputed subjects in schools has compounded many of the difficulties in American education.

The researchers found that controversies over critical race theory, sex education and transgender issues — aggravated by divisive debates over responses to Covid and its aftermath — are inflicting a heavy toll on teachers and principals.

“On top of the herculean task of carrying out the essential functions of their jobs,” they write, “educators increasingly find themselves in the position of addressing contentious, politicized issues in their schools as the United States has experienced increasing political polarization.”

Teachers and principals, they add, “have been pulled in multiple directions as they try to balance and reconcile not only their own beliefs on such matters but also the beliefs of others around them, including their leaders, fellow staff, students, and students’ family members.”

These conflicting pressures take place in a climate where “emotions in response to these issues have run high within communities, resulting in the harassment of educators, bans against literature depicting diverse characters, and calls for increased parental involvement in deciding academic content.”

Forty-eight percent of principals and 40 percent of teachers reported that the intrusion of political issues and opinions in school leadership or teaching, respectively, was a job-related stressor. By comparison, only 16 percent of working adults indicated that the intrusion of political issues and opinions in their jobs was a source of job-related stress

In 1979, the average teacher weekly salary (in 2021 dollars) was $1,052, 22.9 percent less than other college graduates’, at $1,364

Nearly all Black or African American principals (92 percent) and teachers (87 percent) reported believing that systemic racism exists.

White educators working in predominantly white school systems reported substantially more pressure to deal with politically divisive issues than educators of color and those working in mostly minority schools: “Forty-one percent of white teachers and 52 percent of white teachers and principals selected the intrusion of political issues and opinions into their professions as a job-related stressor, compared with 36 percent of teachers of color and principals of color.

and opinions into their professions as a job-related stressor, compar

A 54 percent majority of teachers and principals said there “should not be legal limits on classroom conversations about racism, sexism, and other topics,” while 20 percent said there should be legislated constraint

Voters, in turn, are highly polarized on the teaching of issues impinging on race or ethnicity in public schools. The Education Next 2022 Survey asked, for example:Some people think their local public schools place too little emphasis on slavery, racism and other challenges faced by Black people in the United States. Other people think their local public schools place too much emphasis on these topics. What is your view about your local public schools?

Among Democrats, 55 percent said too little emphasis was placed on slavery, racism and other challenges faced by Black people, and 8 percent said too much.

Among Republicans, 51 said too much and 10 percent said too little.

Because of the lack of reliable national data, there is widespread disagreement among scholars of education over the scope and severity of the shortage of credentialed teachers, although there is more agreement that these problems are worse in low-income, high majority-minority school systems and in STEM and special education faculties.

Public schools increasingly are targets of conservative political groups focusing on what they term “Critical Race Theory,” as well as issues of sexuality and gender identity. These political conflicts have created a broad chilling effect that has limited opportunities for students to practice respectful dialogue on controversial topics and made it harder to address rampant misinformation.

The chilling effect also has led to marked declines in general support for teaching about race, racism, and racial and ethnic diversity.

These political conflicts, the authors wrote,have made the already hard work of public education more difficult, undermining school management, negatively impacting staff, and heightening student stress and anxiety. Several principals shared that they were reconsidering their own roles in public education in light of the rage at teachers and rage at administrators’ playing out in their communities.

State University of New York tracked trends on “four interrelated constructs: professional prestige, interest among students, preparation for entry, and job satisfaction” for 50 years, from the 1970s to the present and founda consistent and dynamic pattern across every measure: a rapid decline in the 1970s, a swift rise in the 1980s, relative stability for two decades, and a sustained drop beginning around 2010. The current state of the teaching profession is at or near its lowest levels in 50 years.

Who among the next generation of college graduates will choose to teach?

Perceptions of teacher prestige have fallen between 20 percent and 47 percent in the last decade to be at or near the lowest levels recorded over the last half century

Interest in the teaching profession among high school seniors and college freshmen has fallen 50 percent since the 1990s, and 38 percent since 2010, reaching the lowest level in the last 50 years

the proportion of college graduates that go into teaching is at a 50-year low

Teachers’ job satisfaction is also at the lowest level in five decades, with the percent of teachers who feel the stress of their job is worth it dropping from 81 percent to 42 percent in the last 15 years

The combination of these factors — declining prestige, lower pay than other professions that require a college education, increased workloads, and political and ideological pressures — is creating both intended and unintended consequences for teacher accountability reforms mandating tougher licensing rules, evaluations and skill testing.

Education policy over the past decade has focused considerable effort on improving human capital in schools through teacher accountability. These reforms, and the research upon which they drew, were based on strong assumptions about how accountability would affect who decided to become a teacher. Counter to most assumptions, our findings document how teacher accountability reduced the supply of new teacher candidates by, in part, decreasing perceived job security, satisfaction and autonomy.

The reforms, Kraft and colleagues continued, increasedthe likelihood that schools could not fill vacant teaching positions. Even more concerning, effects on unfilled vacancies were concentrated in hard-to-staff schools that often serve larger populations of low-income students and students of color

We find that evaluation reforms increased the quality of newly hired novice teachers by reducing the number of teachers that graduated from the least selective institutions

We find no evidence that evaluation reforms served to attract teachers who attended the most selective undergraduate institutions.

In other words, the economic incentives, salary structure and work-life pressures characteristic of public education employment have created a climate in which contemporary education reforms have perverse and unintended consequences that can worsen rather than alleviate the problems facing school systems.

If so, to improve the overall quality of the nation’s more than three million public schoolteachers, reformers may want to give priority to paychecks, working conditions, teacher autonomy and punishing workloads before attempting to impose higher standards, tougher evaluations and less job security.

It certainly informed his libertarianism, which inclined in the direction of an Ayn Rand-inspired valorization of entrepreneurial superman-geniuses whose great acts of capitalistic creativity benefit all of mankind. Thiel also tended to follow Rand in viewing the masses as moochers who empower Big Government to crush these superman-geniuses.

Thiel became something of an opportunistic populist inclined to view liberal elites and institutions as posing the greatest obstacle to building an economy and culture of dynamistic creativity—and eager to mobilize the anger and resentment of “the people” as a wrecking ball to knock them down. 

the failure of the Trump administration to break more decisively from the political status quo left Thiel uninterested in playing a big role in the 2020 election cycle.

Does Thiel personally believe that the 2020 election was stolen from Trump? I doubt it. It’s far more likely he supports the disruptive potential of encouraging election-denying candidates to run and helping them to win.

Thiel is moved to indignation by the fact that since 1958 no commercial aircraft (besides the long-decommissioned Concorde) has been developed that can fly faster than 977 kilometers per hou

Thiel is, first and foremost, a dynamist—someone who cares above all about fostering innovation, exploration, growth, and discovery.

the present looks and feels pretty much the same as 1969, only “with faster computers and uglier cars.” 

Thiel’s approach to the problem is distinctive in that he sees the shortfall as evidence of a deeper and more profound moral, aesthetic, and even theological failure. Human beings are capable of great creativity and invention, and we once aspired to achieve it in every realm. But now that aspiration has been smothered by layer upon layer of regulation and risk-aversion. “Legal sclerosis,” Thiel claimed in that same book review, “is likely a bigger obstacle to the adoption of flying cars than any engineering problem.”

Progress in science and technology isn’t innate to human beings, Thiel believes. It’s an expression of a specific cultural or civilizational impulse that has its roots in Christianity and reached a high point during the Victorian era of Western imperialism

Thiel aims to undermine the progressive liberalism that dominates the mainstream media, the federal bureaucracy, the Justice Department, and the commanding heights of culture (in universities, think tanks, and other nonprofits).

In Thiel’s view, recapturing civilizational greatness through scientific and technological achievement requires fostering a revival of a kind of Christian Prometheanism (a monotheistic variation on the rebellious creativity and innovation pursued by the demigod Prometheus in ancient Greek mythology)

Against those who portray modern scientific and technological progress as a rebellion against medieval Christianity, Thiel insists it is Christianity that encourages a metaphysical optimism about transforming and perfecting the world, with the ultimate goal of turning it into “a place where no accidents can happen” and the achievement of “personal immortality” becomes possible

All that’s required to reach this transhuman end is that we “remain open to an eschatological frame in which God works through us in building the kingdom of heaven today, here on Earth—in which the kingdom of heaven is both a future reality and something partially achievable in the present.” 

As Thiel put it last summer in a wide-ranging interview with the British website UnHerd, the Christian world “felt very expansive, both in terms of the literal empire and also in terms of the progress of knowledge, of science, of technology, and somehow that was naturally consonant with a certain Christian eschatology—a Christian vision of history.”

JD Vance is quoted on the subject of what this political disruption might look like during a Trump presidential restoration in 2025. Vance suggests that Trump should “fire every single midlevel bureaucrat, every civil servant in the administrative state, replace them with our people. And when the courts stop [him], stand before the country, and say, ‘the chief justice has made his ruling. Now let him enforce it.’”

Another Thiel friend and confidante discussed at length in Vanity Fair, neo-reactionary Curtis Yarvin, takes the idea of disrupting the liberal order even further, suggesting various ways a future right-wing president (Trump or someone else) could shake things up, shredding the smothering blanket of liberal moralism, conformity, rules, and regulations, thereby encouraging the creation of something approaching a scientific-technological wild west, where innovation and experimentation rule the day. Yarvin’s preferred path to tearing down what he calls the liberal “Cathedral,” laid out in detail on a two-hour Claremont Institute podcast from May 2021, involves a Trump-like figure seizing dictatorial power in part by using a specially designed phone app to direct throngs of staunch supporters (Jan. 6-style) to overpower law enforcement at key locations around the nation’s capital.  

this isn’t just an example of guilt-by-association. These are members of Thiel’s inner circle, speaking publicly about ways of achieving shared goals. Thiel funded Vance’s Senate campaign to the tune of at least $15 million. Is it likely the candidate veered into right-wing radicalism with a Vanity Fair reporter in defiance of his campaign’s most crucial donor?

As for Yarvin, Thiel continued to back his tech start up (Urbit) after it became widely known he was the pseudonymous author behind the far-right blog “Unqualified Reservations,” and as others have shown, the political thinking of the two men has long overlapped in numerous other ways. 

He’s deploying his considerable resources to empower as many people and groups as he can, first, to win elections by leveraging popular disgust at corrupt institutions—and second, to use the power they acquire to dismantle or even topple those institutions, hopefully allowing a revived culture of Christian scientific-technological dynamism to arise from out of the ruins.  

Far more than most big political donors, Thiel appears to care only about the extra-political goal of his spending. How we get to a world of greater dynamism—whether it will merely require selective acts of troublemaking disruption, or whether, instead, it will ultimately involve smashing the political order of the United States to bits—doesn’t really concern him. Democratic politics itself—the effort of people with competing interests and clashing outlooks to share rule for the sake of stability and common flourishing—almost seems like an irritant and an afterthought to Peter Thiel.

What we do have is the opportunity to enlighten ourselves about what these would-be Masters of the Universe hope to accomplish—and to organize politically to prevent them from making a complete mess of things in the process.

Then came 2016. The overreading began once again. The old electoral college “blue wall” had become a “red wall,” and Trump had supposedly unlocked the key to lasting control. But, well, you know the rest.

Everyone keeps looking for the political Battle of Yorktown—that moment when your opponents lose once and for all and they march out slowly before you while the band plays “The World Turned Upside Down.”

Instead, in a closely-divided nation that’s characterized mainly by negative polarization and calcification, the better analogy is to trench warfare—grinding, bloody attrition, with gains often measured in yards rather than miles and true breakthroughs few and far between. 

Thus, the question after any given election isn’t so much, “Who is ascendant?” Rather, it’s “In which direction did the lines move?” 

often the more important cultural changes can be harder to discern

in this instance one of those more important changes was the blow to the malice theory of American politics. 

The malice theory is a core element of Trumpism, and it’s a natural temptation of negative polarization. Negative polarization (or negative partisanship), as I’ve written many times, is the term for politics that is fundamentally motivated by animosity for the other side more than affection to your own party’s leaders or ideas. 

Under the malice theory, the key to electoral victory is unlocking that anger. That means highlighting everything wrong with your opponents. That means hyping their alleged mortal threat to the Republic.

who should be kind to the “godless communist orcs” who are “trying to ruin this great country”? 

then persuasion is a waste of time. Defeating the enemy isn’t about persuading the enemy, but rather about mobilizing the righteous.

inspiring people is hard. Scaring them is easy—especially when the internet gives you constant access to the worst and weirdest voices on the other side. 

here’s where the malice theory collides with human nature. Most people aren’t content with simply thinking their opponents are terrible. They still want to see themselves as good. They want to see the world as “good versus evil,” not “lesser evil versus evil.” 

That’s why the argument that voters should always swallow deep moral objections to vote for the lesser evil are ultimately unsustainable

When confronted with relentless wrongdoing from your own partisans, one of two things happens—over time you’ll either redefine evil as good, or you’ll abandon evil for the good. 

The first response is core to much of the MAGA movement. It’s how someone goes from holding their nose and voting for Trump in 2016 to being the first bass boat in the boat parade in 2020. We all watched it happen.

The ultimate expression of this faction was represented by what’s been called the “Stop the Steal” slate of Republican candidates. These were the folks who were all-in, not just on Trump, but on some of the most transparently, incandescently absurd political conspiracies in modern American history. 

I don’t want to make the very mistake I identified at the start of this newsletter and overstate my case. Talk of a true MAGA “repudiation” is overblown

remember, the question isn’t whether anyone achieved ultimate victory or faced a final defeat. It’s in which direction the lines moved in our nation’s political trench warfare. And they most definitely moved back towards reason and our most basic moral norms. 

since politicians so often follow voters far more than they lead voters, it is ultimately up to us to demonstrate to them that the malice theory of American politics is truly a dead political end

The worst thing for American politics would be for the Trumpist narrative—that decency is for the weak—to prevai

If cruelty truly is the sole or best path to partisan victory, then the continued temptation to yield to our worst impulses would grow overwhelming. The temptation was already strong enough to distort and transform the political culture of the right simply based on Trump’s single, narrow win.

the opposite message seems to be true

Ever since Trump beat Hillary Clinton, the Trumpist GOP lost and kept losing. A movement that prioritized vicious political combat lost the House in the 2018 midterms, lost the presidency and the Senate in 2020, and has likely blown a virtually unlosable election in 2022, despite the fact that the country is struggling under the great weight of the worst crime and inflation in at least a generation.

It turns out that there’s some life left in decency yet. Even when times are hard, there are voters who are unwilling to call good evil and evil good

It turns out that it’s hard to escape the need to persuade and inspire, and that might be the best—and most important—consequence of a midterm election that gave neither party a mandate but reminded the Republicans that malice and lies can do far more political harm than good. 

Their policies tend to please no one; it’s a common refrain that antipathy toward Big Tech companies is one of the few truly bipartisan issues

You can just feel it, the cumulative weight of this stagnation, in the tech that most of us encounter every day. The act of scrolling past the same dumb ad to peer at the same bad news on the same glass screen on the same social network: This is the stuck future. There is a sense that we have reached the end of the internet, and no one wants to be left holding the bag

There’s a palpable exhaustion with the whole enterprise, with the men who set out to build the future or at least get rich, and who accomplished only one and a half of those things.

YouTube, meanwhile, is facing many of the same policy quagmires as Facebook and Twitter, especially when it comes to content moderation—and similarly failing to meaningfully address them.

It’s not just social media that’s in decline, already over, or worse.

As its mighty iPhone sales figures have plateaued and its business has grown more conservative—it hasn’t released a culturally significant new product line since 2016’s AirPods—Apple has begun to embrace advertising.

as Google has consolidated its monopoly, the quality of its flagship search product has gotten worse. Result pages are cluttered with ads that must be scrolled through in order to find the “‘organic”’ items, and there’s reason to think the quality of the results has gotten worse over time as well.

The big social networks are stuck. And there is little profit incentive to get them unstuck. That, after all, would require investing heavily in content moderators, empowering trust and safety teams, and penalizing malicious viral content that brings in huge traffic.

What a grim outcome for the internet, where the possibilities were once believed to be endless and where users were promised an infinite spectrum of possibility to indulge their creativity, build robust communities, and find their best expression, even when they could not do so in the real world

Big Tech, of course, never predicated its business models on enabling any of that, though its advertising and sloganeering may have suggested otherwise. Rather, companies’ ambitions were always focused on being the biggest: having the most users, selling the most devices, locking the most people into their walled gardens and ecosystems. The stuckness we’re seeing is the result of some of the most ambitious companies of our generation succeeding wildly yet having no vision beyond scale—no serious interest in engaging the civic and social dimensions of their projects.

it is easy to forget how much we have in common as people. I can’t think of any major nation after the United States with more of a Protestant work ethic and naturally capitalist population than China.

These days, it is extremely difficult for a visiting columnist to get anyone — a senior official or a Starbucks barista — to speak on the record. It was not that way a decade ago.

The Communist Party’s hold is also a product of all the hard work and savings of the Chinese people, which have enabled the party and the state to build world-class infrastructure and public goods that make life for China’s middle and lower classes steadily better.

Beijing and Shanghai, in particular, have become very livable cities, with the air pollution largely erased and lots of new, walkable green spaces.

some 900 cities and towns in China are now served by high-speed rail, which makes travel to even remote communities incredibly cheap, easy and comfortable

Just when trust has become more important than ever between the U.S. and China, it also has become scarcer than ever. Bad trend.

China’s stability is a product of both an increasingly pervasive police state and a government that has steadily raised standards of living. It’s a regime that takes both absolute control and relentless nation-building seriously.

For an American to fly from New York’s Kennedy Airport into Beijing Capital International Airport today is to fly from an overcrowded bus terminal to a Disney-like Tomorrowland.

China got an early jump on A.I. in two realms — facial recognition technology and health records — because there are virtually no privacy restrictions on the government’s ability to build huge data sets for machine learning algorithms to find patterns.

“ChatGPT is prompting some people to ask if the U.S. is rising again, like in the 1990s,”

“I understand your feeling: You have been in the first place for a century, and now China is rising, and we have the potential to become the first — and that is not easy for you,” Hu said to me. But “you should not try to stop China’s development. You can’t contain China in the end. We are quite smart. And very diligent. We work very hard. And we have 1.4 billion people.”

Before the Trump presidency, he added: “We never thought China-U.S. relations would ever become so bad. Now we gradually accept the situation, and most Chinese people think there is no hope for better relations. We think the relationship will be worse and worse and hope that war will not break out between our two countries.”

A lot of people hesitated when I asked. Indeed, many would answer with some version of “I’m not sure, I just know that it’s THEIR fault.”

t was repeated conversations like these that got me started asking American, Chinese and Taiwanese investors, analysts and officials a question that has been nagging at me for a while: What exactly are America and China fighting about?

the real answer is so much deeper and more complex than just the usual one-word response — “Taiwan” — or the usual three-word response — “autocracy versus democracy.”

Let me try to peel back the layers. The erosion in U.S.-China relations is a result of something old and obvious — a traditional great-power rivalry between an incumbent power (us) and a rising power (China) — but with lots of new twists

One of the twists, though, is that this standard-issue great-power rivalry is occurring between nations that have become as economically intertwined as the strands of a DNA molecule. As a result, neither China nor America has ever had a rival quite like the other.

in modern times, China, like America, has never had to deal with a true economic and military peer with which it was also totally intertwined through trade and investment.

Another new twist, and a reason it’s hard to define exactly what we’re fighting about, has a lot to do with how this elusive issue of trust and the absence of it have suddenly assumed much greater importance in international affairs.

This is a byproduct of our new technological ecosystem in which more and more devices and services that we both use and trade are driven by microchips and software, and connected through data centers in the cloud and high-speed internet

so many more things became “dual use.” That is, technologies that can easily be converted from civilian tools to military weapons, or vice versa.

no one country or company can own the whole supply chain. You need the best from everywhere, and that supply chain is so tightly intertwined that each company has to trust the others intimately.

when we install the ability to sense, digitize, connect, process, learn, share and act into more and more things — from your GPS-enabled phone to your car to your toaster to your favorite app — they all become dual use, either weapons or tools depending on who controls the software running them and who owns the data that they spin off.

As long as most of what China sold us was shallow goods, we did not care as much about its political system — doubly so because it seemed for a while as if China was slowly but steadily becoming more and more integrated with the world and slightly more open and transparent every year. So, it was both easy and convenient to set aside some of our worries about the dark sides of its political system.

when you want to sell us ‘deep goods’ — goods that are dual use and will go deep into our homes, bedrooms, industries, chatbots and urban infrastructure — we don’t have enough trust to buy them. So, we are going to ban Huawei and instead pay more to buy our 5G telecom systems from Scandinavian companies we do trust: Ericsson and Nokia.”

as we’ve seen in Ukraine, a smartphone can be used by Grandma to call the grandkids or to call a Ukrainian rocket-launching unit and give it the GPS coordinates of a Russian tank in her backyard.

So today, the country or countries that can make the fastest, most powerful and most energy efficient microchips can make the biggest A.I. computers and dominate in economics and military affairs.

As more and more products and services became digitized and electrified, the microchips that powered everything became the new oil. What crude oil was to powering 19th- and 20th-century economies, microchips are for powering 21st-century economies.

When you ask them what is the secret that enables TSMC to make 90 percent of the world’s most advanced logic chips — while China, which speaks the same language and shares the same recent cultural history, makes zero — their answer is simple: “trust.”

TSMC is a semiconductor foundry, meaning it takes the designs of the most advanced computer companies in the world — Apple, Qualcomm, Nvidia, AMD and others — and turns the designs into chips that perform different processing functions

TSMC makes two solemn oaths to its customers: TSMC will never compete against them by designing its own chips and it will never share the designs of one of its customers with another.

“Our business is to serve multiple competitive clients,” Kevin Zhang, senior vice president for business development at TSMC, explained to me. “We are committed not to compete with any of them, and internally our people who serve customer A will never leak their information to customer C.”

But by working with so many trusted partners, TSMC leverages the partners’ steadily more complex designs to make itself better — and the better it gets, the more advanced designs it can master for its customers. This not only requires incredibly tight collaboration between TSMC and its customers, but also between TSMC and its roughly 1,000 critical local and global suppliers.

As the physics of chip making gets more and more extreme, “the investment from customers is getting bigger and bigger, so they have to work with us more closely to make sure they harvest as much [computing power] as they can. They have to trust you.”

China also has a foundry, Semiconductor Manufacturing International Corporation, which is partly state-owned. But guess what? Because no global chip designers trust SMIC with their most advanced designs, it is at least a decade behind TSMC.

It’s for these reasons that the erosion in U.S.-China relations goes beyond our increasingly sharp disagreements over Taiwan. It is rooted in the fact that just when trust, and its absence, became much bigger factors in international affairs and commerce, China changed its trajectory. It made itself a less trusted partner right when the most important technology for the 21st century — semiconductors — required unprecedented degrees of trust to manufacture and more and more devices and services became deep and dual use.

when American trade officials said: “Hey, you need to live up to your W.T.O. commitments to restrict state-funding of industries,” China basically said: “Why should we live by your interpretation of the rules? We are now big enough to make our own interpretations. We’re too big; you’re too late.”

Combined with China’s failure to come clean on what it knew about the origins of Covid-19, its crackdown on democratic freedoms in Hong Kong and on the Uyghur Muslim minority in Xinjiang, its aggressive moves to lay claim to the South China Sea, its increasing saber rattling toward Taiwan, its cozying up to Vladimir Putin (despite his savaging of Ukraine), Xi’s moves toward making himself president for life, his kneecapping of China’s own tech entrepreneurs, his tighter restrictions on speech and the occasional abduction of a leading Chinese businessman — all of these added up to one very big thing: Whatever trust that China had built up with the West since the late 1970s evaporated at the exact moment in history when trust, and shared values, became more important than ever in a world of deep, dual-use products driven by software, connectivity and microchips.

it started to matter a lot more to Western nations generally and the United States in particular that this rising power — which we were now selling to or buying from all sorts of dual-use digital devices or apps — was authoritarian.

eijing, for its part, argues that as China became a stronger global competitor to America — in deep goods like Huawei 5G — the United States simply could not handle it and decided to use its control over advanced semiconductor manufacturing and other high-tech exports from America, as well as from our allies, to ensure China always remained in our rearview mirror

Beijing came up with a new strategy, called “dual circulation.” It said: We will use state-led investments to make everything we possibly can at home, to become independent of the world. And we will use our manufacturing prowess to make the world dependent on our exports.

Chinese officials also argue that a lot of American politicians — led by Trump but echoed by many in Congress — suddenly seemed to find it very convenient to put the blame for economic troubles in the U.S.’s middle class not on any educational deficiencies, or a poor work ethic, or automation or the 2008 looting by financial elites, and the crisis that followed, but on China’s exports to the United States.

As Beijing sees it, China not only became America’s go-to boogeyman, but in their frenzy to blame Beijing for everything, members of Congress started to more recklessly promote Taiwan’s independence.

Xi told President Biden at their summit in Bali in November, in essence: I will not be the president of China who loses Taiwan. If you force my hand, there will be war. You don’t understand how important this is to the Chinese people. You’re playing with fire.

at some level Chinese officials now understand that, as a result of their own aggressive actions in recent years on all the fronts I’ve listed, they have frightened both the world and their own innovators at precisely the wrong time.

I don’t buy the argument that we are destined for war. I believe that we are doomed to compete with each other, doomed to cooperate with each other and doomed to find some way to balance the two. Otherwise we are both going to have a very bad 21st century.

I have to say, though, Americans and Chinese remind me of Israelis and Palestinians in one respect: They are both expert at aggravating the other’s deepest insecurities.

China’s Communist Party is now convinced that America wants to bring it down, which some U.S. politicians are actually no longer shy about suggesting. So, Beijing is ready to crawl into bed with Putin, a war criminal, if that is what it takes to keep the Americans at bay.

Americans are now worried that Communist China, which got rich by taking advantage of a global market shaped by American rules, will use its newfound market power to unilaterally change those rules entirely to its advantage. So we’ve decided to focus our waning strength vis-à-vis Beijing on ensuring the Chinese will always be a decade behind us on microchips.

I don’t know what is sufficient to reverse these trends, but I think I know what is necessary.

If it is not the goal of U.S. foreign policy to topple the Communist regime in China, the United States needs to make that crystal clear, because I found a lot more people than ever before in Beijing think otherwise.

As for China, it can tell itself all it wants that it has not taken a U-turn in recent years. But no one is buying it. China will never realize its full potential — in a hyper-connected, digitized, deep, dual-use, semiconductor-powered world — unless it understands that establishing and maintaining trust is now the single most important competitive advantage any country or company can have. And Beijing is failing in that endeavor.

In his splendid biography of the great American statesman George Shultz, Philip Taubman quotes one of Shultz’s cardinal rules of diplomacy and life: “Trust is the coin of the realm.”

what worries me even more is the change I see in ordinary Americans. I live in the heart of MAGA country, and Donald Trump is the single most culturally influential person here. It’s not close. He’s far more influential than any pastor, politician, coach or celebrity. He has changed people politically and also personally. It is common for those outside the Trump movement to describe their aunts or uncles or parents or grandparents as “lost.” They mean their relatives’ lives are utterly dominated by Trump, Trump’s media and Trump’s grievances.

never before have I seen extremism penetrate a vast American community so deeply, so completely and so comprehensively.

That percentage is far higher than the (still troubling) 22 percent of independents and 13 percent of Democrats who shared the same view.

In 2011, they were the American cohort least likely to agree that a politician could commit immoral acts in private yet “still behave ethically and fulfill their duties in their public and professional life.”

They went from least likely to most likely to excuse the immoral behavior of politicians.

An increasing percentage are now tempted to embrace political violence. Last October, a startling 33 percent of Republicans (and an even larger 41 percent of pro-Trump Americans) agreed with the statement that “because things have gotten so far off track, true American patriots may have to resort to violence in order to save our country.”

Polling data again and again backs up the reality that the right is abandoning decency, and doing so in the most alarming of ways. It began happening almost immediately with white evangelicals

As the Iowa caucuses approached, Trump escalated his language, going so far as to call his political opponents “vermin” and declaring that immigrants entering America illegally are “poisoning the blood of our country.” The statement was so indefensible and repugnant that many expected it to hurt Trump. Yet a Des Moines Register/NBC News/Mediacom Iowa Poll found that a 42 percent plurality of likely Iowa Republican caucusgoers said the statement would make them more likely to support Trump — a substantially greater percentage than the 28 percent who said it would make them less likely to support him.

While political violence is hardly exclusive to the right, the hostility and vitriol embedded in MAGA America is resulting in an escalating wave of threats and acts of intimidation.

The result is a religious movement steeped in fanaticism but stripped of virtue. The fruit of the spirit described in Galatians in the New Testament — “love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control” — is absent from MAGA Christianity, replaced by the very “works of the flesh” the same passage warned against, including “hatreds, strife, jealousy, outbursts of anger, selfish ambitions, dissensions” and “factions.”

in the upside-down world of MAGA morality, vice is virtue and virtue is vice. My colleague Jane Coaston even coined a term, “vice signaling,” to describe how Trump’s core supporters convey their tribal allegiance. They’re often deliberately rude, transgressive or otherwise unpleasant, just to demonstrate how little they care about conventional moral norms.

For most of my life, conservative evangelicals (including me) have been fond of quoting John Adams’s 1798 letter to the Massachusetts Militia. It’s a critical founding document, one that forcefully argues that our Republic needs a virtuous citizenry to survive. “Our Constitution was made only for a moral and religious People,” he asserts. “It is wholly inadequate to the government of any other.”

I’ve appreciated that quote because it recognizes the obligations of a free people in a constitutional republic to exercise their liberty toward virtuous purposes.

Absent public virtue, a republic can fall. And a Trump win in 2024 would absolutely convince countless Americans that virtue is for suckers, and vice is the key to victory.

if he wins again, the equation will change and history may record that he was not the culmination of a short-lived reactionary moment, but rather the harbinger of a greater darkness to come.

For instance, when a Harvard scholar such as Steven Pinker speaks of “disempowering D.E.I.” as a necessary reform in American higher education, he’s not opposing diversity itself. Pinker is liberal, donates substantially to the Democratic Party and “loathes” Donald Trump. The objections he raises are shared by a substantial number of Americans across the political spectrum.

, the problem with D.E.I. isn’t with diversity, equity, or inclusion — all vital values.

First, it is a moral necessity for colleges to be concerned about hateful discourse, including hateful language directed at members of historically marginalized groups. Moreover, colleges that receive federal funds have a legal obligation

I’ll share with you three pervasive examples

In the name of D.E.I., all too many institutions have violated their constitutional commitments to free speech, due process and equal protection of the law.

Yet that is no justification for hundreds of universities to pass and maintain draconian speech codes on campus, creating a system of unconstitutional censorship that has been struck down again and again and again in federal court. Nor is it a justification for discriminating against faculty members for their political views or for compelling them to speak in support of D.E.I.

There is a better way to achieve greater diversity, equity, inclusion and related goals. Universities can welcome students from all walks of life without unlawfully censoring speech. They can respond to campus sexual violence without violating students’ rights to due process. They can diversify the student body without discriminating on the basis of race

Second, there is a moral imperative to respond to sexual misconduct on campus.

that is no justification for replacing one tilted playing field with another. Compelled in part by constitutionally problematic guidance from the Obama administration, hundreds of universities adopted sexual misconduct policies that strip the most basic due process protections from accused students. The result has been systematic injustice

The due process problem was so profound that in 2019 a state appellate court in California — hardly a bastion of right-wing jurisprudence — ruled that “fundamental fairness” entitles an accused student to cross-examine witnesses in front of a neutral adjudicator.

Third, it is urgently necessary to address racial disparities in campus admissions and faculty hiring — but, again, not at the expense of the Constitution.

it is difficult to ignore the overwhelming evidence that Harvard attempted to achieve greater diversity in part by systematically downranking Asian applicants on subjective grounds, judging them deficient in traits such as “positive personality,” likability, courage, kindness and being “widely respected.” That’s not inclusion; it’s discrimination.

Our nation has inflicted horrific injustices on vulnerable communities. And while the precise nature of the injustice has varied — whether it was slavery, Jim Crow, internment or the brutal conquest of Native American lands — there was always a consistent theme: the comprehensive denial of constitutional rights.

But one does not correct the consequences of those terrible constitutional violations by inflicting a new set of violations on different American communities in a different American era. A consistent defense of the Constitution is good for us all,

The danger posed by D.E.I. resides primarily not in these virtuous ends, but in the unconstitutional means chosen to advance them.

Virtuous goals should not be accomplished by illiberal means.

But the legal wrangling to just get the courts to treat crypto as a set of speculative instruments regulated under securities law made the law moot

In May of 2022, a year after Gensler began trying to do something about Terra/Luna, Kwon’s scheme blew up. In a comically-too-late-to-matter gesture, an appeals court then said that the SEC had the right to compel information from Kwon’s now-bankrupt scheme. It is absolute lunacy that well-settled law, like the ability for the SEC to investigate those in the securities business, is now being re-litigated.

many crypto ‘enthusiasts’ watching Gensler discuss regulation with his predecessor “called for their incarceration or worse.”

it wasn’t just the courts who were an impediment. Gensler wasn’t the only cop on the beat. Other regulators, like those at the Commodities Futures Trading Commission, the Federal Reserve, or the Office of Comptroller of the Currency, not only refused to take action, but actively defended their regulatory turf against an attempt from the SEC to stop the scams.

Behind this was the fist of political power. Everyone saw the incentives the Senate laid down when every single Republican, plus a smattering of Democrats, defeated the nomination of crypto-skeptic Saule Omarova in becoming the powerful bank regulator at the Comptroller of the Currency

Instead of strong figures like Omarova, we had a weakling acting Comptroller Michael Hsu at the OCC, put there by the excessively cautious Treasury Secretary Janet Yellen. Hsu refused to stop bank interactions with crypto or fintech because, as he told Congress in 2021, “These trends cannot be stopped.”

It’s not just these regulators; everyone wanted a piece of the bureaucratic pie. In March of 2022, before it all unraveled, the Biden administration issued an executive order on crypto. In it, Biden said that virtually every single government agency would have a hand in the space.

That’s… insane. If everyone’s in charge, no one is.

And behind all of these fights was the money and political prestige of some most powerful people in Silicon Valley, who were funding a large political fight to write the rules for crypto, with everyone from former Treasury Secretary Larry Summers to former SEC Chair Mary Jo White on the payroll.

(Even now, even after it was all revealed as a Ponzi scheme, Congress is still trying to write rules favorable to the industry. It’s like, guys, stop it. There’s no more bribe money!)

Moreover, the institution Gensler took over was deeply weakened. Since the Reagan administration, wave after wave of political leader at the SEC has gutted the place and dumbed down the enforcers. Courts have tied up the commission in knots, and Congress has defanged it

Under Trump crypto exploded, because his SEC chair Jay Clayton had no real policy on crypto (and then immediately went into the industry after leaving.) The SEC was so dormant that when Gensler came into office, some senior lawyers actually revolted over his attempt to make them do work.

In other words, the regulators were tied up in the courts, they were against an immensely powerful set of venture capitalists who have poured money into Congress and D.C., they had feeble legal levers, and they had to deal with ‘crypto enthusiasts' who thought they should be jailed or harmed for trying to impose basic rules around market manipulation.

The bottom line is, Gensler is just one regulator, up against a lot of massed power, money, and bad institutional habits. And we as a society simply made the choice through our elected leaders to have little meaningful law enforcement in financial markets, which first became blindingly obvious in 2008 during the financial crisis, and then became comical ten years later when a sector whose only real use cases were money laundering

, Ponzi scheming or buying drugs on the internet, managed to rack up enough political power to bring Tony Blair and Bill Clinton to a conference held in a tax haven billed as ‘the future.’

It took a few years, but New Dealers finally implemented a workable set of securities rules, with the courts agreeing on basic definitions of what was a security. By the 1950s, SEC investigators could raise an eyebrow and change market behavior, and the amount of cheating in finance had dropped dramatically.

By 1935, the New Dealers had set up a new agency, the Securities and Exchange Commission, and cleaned out the FTC. Yet there was still immense concern that Roosevelt had not been able to tame Wall Street. The Supreme Court didn’t really ratify the SEC as a constitutional body until 1938, and nearly struck it down in 1935 when a conservative Supreme Court made it harder for the SEC to investigate cases.

Institutional change, in other words, takes time.

It’s a lesson to remember as we watch the crypto space melt down, with ex-billionaire Sam Bankman-Fried

It’s not like perfidy in crypto was some hidden secret. At the top of the market, back in December 2021, I wrote a piece very explicitly saying that crypto was a set of Ponzi schemes. It went viral, and I got a huge amount of hate mail from crypto types

one of the more bizarre aspects of the crypto meltdown is the deep anger not just at those who perpetrated it, but at those who were trying to stop the scam from going on. For instance, here’s crypto exchange Coinbase CEO Brian Armstrong, who just a year ago was fighting regulators vehemently, blaming the cops for allowing gambling in the casino he helps run.

FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore. Punishing US companies for this makes no sense.