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Javier E

What Spotify and the 'Audio Industry' Are Doing to Musicians - The Atlantic - 0 views

  • At its best, Spotify is an elegant tool—a conduit between artist and art and listener. But at its worst, it’s a bad actor in a worse industry that historically treats artists miserably
  • Even though the small number of streaming services have access to almost every bit of music that’s ever been recorded, and even though they strike near-monopolistic deals with near-monopolistic major labels, there isn’t quite enough money for anyone to make a good profit on streaming music. Too many middlemen take their share, and there’s a limit to how much people are willing to pay for music now that the internet exists.
  • The biggest tech companies have other ways to make money: Apple sold music by the song before starting a streaming service but always generated most of its earnings off hardware; Google has a seemingly infinite array of mysterious revenue sources.
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  • Spotify doesn’t have those things to turn to. So it’s been turning to podcasts. Besides enticing new subscribers with Spotify-branded podcasts—Rogan and Gimlet Media at the forefront of these—Spotify gets a new place to run ads. The podcast-advertising ecosystem is still lush enough to support additional harvesting. Spotify is betting that what used to be known as the music industry is in fact dead but that maybe the company can make money in the “audio industry.” But that shift involves decisions that disappoint even people jaded by years of experience with the recording business.
  • In the context of the devaluation of so many artists’ work, the backing of Rogan feels like a particularly nihilistic move. Spotify didn’t sign him for his talent or care at all about his impact—good or ill—on the world; with a heartless, almost video-game sensibility, they signed him to take market share from Apple and Google
  • Complaints against bloodless businessmen are hardly new. But what’s happening in music today feels less like individual acts of exploitation and more like the razing of an ecosystem.
  • When Rogan announced his signing, he emphasized that Spotify would have no creative control over his podcast. He was agreeing to a licensing deal, but he wouldn’t be an employee. “It will be the exact same show,” Rogan claimed
  • His comments fell somewhere between the gentle vibe of “Look, man, they’re offering me $100 million, so, uh, what am I supposed to do?” and a more aggressive “Spotify doesn’t own me, man. They are renting me for a certain period of time for $100 million—that’s different.” It’s infuriating that Rogan’s podcast has the trappings of counterculture while finding itself in such particular proximity to money and tech power. But I don’t know that, if I were Rogan, I would do much different.
  • Others in the “audio industry” face more discouraging trends. I suspect that the big record companies would dissolve if they weren’t still making so much money off the music of the 20th century.
  • I knew a lot of bands in the early 2000s whose members could quit their day job for a few years and make a living on relatively small amounts of record sales coupled with touring
  • Today, fewer artists are crossing the bar of being able to live purely off making and performing music. A lot of artists are failing to find a place in an “audio industry” that ever more efficiently mines smaller veins for what little cash can be extracted, or in a broader entertainment industry that has more in common with Marvel-movie spectacle than any particular sort of artistry.
  • My deep dread, though, is that this ability to tune out and focus on art becomes an aristocratic luxury; that a lack of money for music means a lack of money for musicians; that new ways of doing business are destroying the possibility of a creative middle class.
  • Solidarity is a tempting response to technological change, but my tired brain just can’t see the mechanism for it in this era. I honestly feel like a master sock weaver at the start of the industrial revolution. People will still get their socks, maybe worse than the ones before. And in the end, technology will plow us over.
Javier E

Tracking Viral Misinformation - The New York Times - 0 views

  • More than a year after Donald J. Trump left office, the QAnon conspiracy theory that thrived during his administration continues to attract more Americans, including many Republicans and far-right news consumers, according to results from a survey released on Thursday from the Public Religion Research Institute.
  • The nonprofit and nonpartisan group found that 16 percent of Americans, or roughly 41 million people, believed last year in the three key tenets of the conspiracy theory
  • Those are that Satanist pedophiles who run a global child sex-trafficking operation control the government and other major institutions
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  • that a coming storm will sweep elites from power
  • and that violence might be necessary to save the country.
  • In October 2021, 17 percent of Americans believed in the conspiracy theory, up from 14 percent in March
  • the percentage of people who rejected QAnon falsehoods shrank to 34 percent in October from 40 percent in March
  • After Mr. Trump lost the 2020 presidential election, QAnon was expected to be hobbled without him. But it has persisted despite that and despite efforts by tech platforms to staunch its spread. Forensic linguists have also tried to unmask and defang the anonymous author who signed online messages as Q.
  • Robert P. Jones, the founder and chief executive of the research group and a social science researcher with decades of experience, said he never expected to be dealing with serious survey questions about whether powerful American institutions were controlled by devil-worshiping, sex-trafficking pedophiles. To have so many Americans agree with such a question, he said, was “stunning.”
  • Believers are “racially, religiously and politically diverse,”
  • Among Republicans, 25 percent found QAnon to be valid, compared with 14 percent of independents and 9 percent of Democrats.
  • Media preferences were a major predictor of QAnon susceptibility, with people who trust far-right news sources such as One America News Network and Newsmax nearly five times more likely to be believers than those who trust mainstream news
  • Fox News viewers were twice as likely to back QAnon ideas
  • Most QAnon believers associated Christianity with being American and said that the United States risked losing its culture and identity and must be protected from foreign influence
  • seven in 10 believers agreed with the lie that the 2020 election was stolen from Mr. Trump.
  • More than half of QAnon supporters are white, while 20 percent are Hispanic and 13 percent are Black.
  • They were most likely to have household incomes of less than $50,000 a year, hold at most a high school degree, hail from the South and reside in a suburb.
Javier E

Opinion | Laundered Money Could Be Putin's Achilles' Heel - The New York Times - 0 views

  • Filip Novokmet, Thomas Piketty and Gabriel Zucman have pointed out that Russia has run huge trade surpluses every year since the early 1990s, which should have led to a large accumulation of overseas assets. Yet official statistics show Russia with only moderately more assets than liabilities abroad. How is that possible? The obvious explanation is that wealthy Russians have been skimming off large sums and parking them abroad.
  • The sums involved are mind-boggling. Novokmet et al. estimate that in 2015 the hidden foreign wealth of rich Russians amounted to around 85 percent of Russia’s G.D.P. To give you some perspective, this is as if a U.S. president’s cronies had managed to hide $20 trillion in overseas accounts.
  • , “the vast majority of wealth at the top is held offshore.” As far as I can tell, the overseas exposure of Russia’s elite has no precedent in history — and it creates a huge vulnerability that the West can exploit.
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  • two uncomfortable facts
  • First, a number of influential people, both in business and in politics, are deeply financially enmeshed with Russian kleptocrats. This is especially true in Britain.
  • Second, it will be hard to go after laundered Russian money without making life harder for all money launderers, wherever they come from — and while Russian plutocrats may be the world champions in that sport, they’re hardly unique: Ultrawealthy people all over the world have money hidden in offshore accounts.
Javier E

Barr Rebukes Trump as 'Off the Rails' in New Memoir - The New York Times - 0 views

  • Former Attorney General William P. Barr writes in a new memoir that former President Donald J. Trump’s “self-indulgence and lack of self-control” cost him the 2020 election and says “the absurd lengths to which he took his ‘stolen election’ claim led to the rioting on Capitol Hill.”
  • In the book, “One Damn Thing After Another: Memoirs of an Attorney General,” Mr. Barr also urges his fellow Republicans to pick someone else as the party’s nominee for the 2024 election, calling the prospect of another presidential run by Mr. Trump “dismaying.”
  • “Donald Trump has shown he has neither the temperament nor persuasive powers to provide the kind of positive leadership that is needed,”
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  • Mr. Trump “lost his grip” after the election, he writes.
  • “He stopped listening to his advisers, became manic and unreasonable, and was off the rails,” Mr. Barr writes. “He surrounded himself with sycophants, including many whack jobs from outside the government, who fed him a steady diet of comforting but unsupported conspiracy theories.”
  • Mr. Barr also denounces the inquiry by the F.B.I. and then the special counsel, Robert S. Mueller III, into links between Russia and Trump campaign aides in 2016. He writes that “the matter that really required investigation” was “how did the phony Russiagate scandal get going, and why did the F.B.I. leadership handle the matter in such an inexplicable and heavy-handed way?”
  • On the scandal that led to Mr. Trump’s first impeachment, in which Mr. Trump withheld aid to Ukraine as leverage to try to get Ukraine’s president to announce an investigation into Joseph R. Biden Jr., Mr. Barr was scathing.
  • He calls it “another mess — this one self-inflicted and the result of abject stupidity,” a “harebrained gambit” and “idiotic beyond belief.” But while Mr. Barr describes the conversation Mr. Trump had with Ukraine’s president on the topic as “unseemly and injudicious,” he maintains that it did not rise to a “criminal offense.”
  • His book expands on that theme, going through specific “fact-free claims of fraud” that Mr. Trump has put forward and explaining why the Justice Department found them baseless. He lists several reasons, for example, that claims about purportedly hacked Dominion voting machines were “absolute nonsense” and “meaningless twaddle.”“The election was not ‘stolen,’” Mr. Barr writes. “Trump lost it.”
sidneybelleroche

6 takeaways from the Texas primaries | CNN Politics - 0 views

  • Texas is set for a heavyweight match-up between Abbott, a prolific fundraiser with a $50 million war chest, and O’Rourke, the former Democratic congressman who has been his party’s only hope at winning statewide in recent years.
  • Abbott, who is seeking a third term, was always the favorite to win his party’s nomination despite far-right criticism of his handling of the coronavirus pandemic in its early days. But he spent $15 million to be sure of it, fending off former Florida congressman and Texas Republican Party chairman Allen West and former state Sen. Don Huffines.
  • O’Rourke, meanwhile, is seeking office for the third time in five years. His near-miss in the 2018 race against Republican Sen. Ted Cruz ignited Texas Democrats’ hopes that the state, with a diverse and growing population and suburbs that have moved leftward, would soon become a battleground.
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  • Texas Attorney General Paxton was unable to reach the 50% support he needed to avoid a runoff, and will face a head-to-head match-up with a member of the state’s best-known political family.
  • The efforts to oust him center on his legal troubles: Paxton has been under indictment since 2015 on securities fraud charges, and is being investigated by the FBI after former aides accused him of abusing the power of his office to help a political donor.
  • Progressives did have one victory to celebrate Tuesday night: Greg Casar, a former Austin city councilman, was projected to win the 35th Congressional District primary outright, avoiding a runoff.
  • he most competitive US House race in Texas this year could come in the 15th District, a South Texas district that stretches from towns east of San Antonio to the Rio Grande Valley.
  • Republican Monica De La Cruz, who came within 3 percentage points of defeating Democratic Rep. Vicente Gonzalez in 2020, will win the Republican nomination, CNN projected. Gonzalez, meanwhile, is running in the neighboring 34th District.
Javier E

Ukraine Crisis: Putin Destroyed 3 Myths of America's Global Order - Bloomberg - 0 views

  • Every era has a figure who strips away its pleasant illusions about where the world is headed. This is what makes Vladimir Putin the most important person of the still-young 21st century.
  • Putin has done more than any other person to remind us that the world order we have taken for granted is remarkably fragile. In doing so, one hopes, he may have persuaded the chief beneficiaries of that order to get serious about saving it.
  • In the early 19th century, a decade of Napoleonic aggression upended a widespread belief that commerce and Enlightenment ideas were ushering in a new age of peace.
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  • In the 20th century, a collection of fascist and communist leaders showed how rapidly the world could descend into the darkness of repression and aggression.
  • In 2007, as Western intellectuals were celebrating the triumph of the liberal international order, Putin warned that he was about to start rolling that order back. In a scorching speech at the Munich Security Conference, Putin denounced the spread of liberal values and American influence. He declared that Russia would not forever live with a system that constrained its influence and threatened its increasingly illiberal regime.
  • Putin’s policies have assailed three core tenets of post-Cold War optimism about the trajectory of global affairs.
  • The first was a sunny assumption about the inevitability of democracy’s advance.
  • To see Putin publicly humiliate his own intelligence chief on television last week was to realize that the world’s vastest country, with one of its two largest nuclear arsenals, is now the fiefdom of a single man.  
  • He has contributed, through cyberattacks, political influence operations and other subversion to a global “democratic recession” that has now lasted more than 15 years.
  • Putin has also shattered a second tenet of the post-Cold War mindset: the idea that great-power rivalry was over and that violent, major conflict had thus become passe.
  • Violence, Putin has reminded us, is a terrible but sadly normal feature of world affairs. Its absence reflects effective deterrence, not irreversible moral progress.
  • This relates to a third shibboleth Putin has challenged — the idea that history runs in a single direction.
  • During the 1990s, the triumph of democracy, great-power peace and Western influence seemed irreversible. The Clinton administration called countries that bucked these trends “backlash states,” the idea being that they could only offer atavistic, doomed resistance to the progression of history.
  • But history, as Putin has shown us, doesn’t bend on its own.
  • Aggression can succeed. Democracies can be destroyed by determined enemies.
  • “International norms” are really just rules made and enforced by states that combine great power with great determination.
  • Which means that history is a constant struggle to prevent the world from being thrust back into patterns of predation that it can never permanently escape.
  • Most important, Putin’s gambit is producing an intellectual paradigm shift — a recognition that this war could be a prelude to more devastating conflicts unless the democratic community severely punishes aggression in this case and more effectively deters it in others.
  • he may be on the verge of a rude realization of his own: Robbing one’s enemies of their complacency is a big mistake.
Javier E

This war will be a total failure, FSB whistleblower says | News | The Times - 0 views

  • Spies in Russia’s infamous security apparatus were kept in the dark about President Putin’s plan to invade Ukraine, according to a whistleblower who described the war as a “total failure” that could be compared only to the collapse of Nazi Germany.
  • A report thought to be by an analyst in the FSB, the successor agency to the KGB, said that the Russian dead could already number 10,000. The Russian defence ministry has acknowledged the deaths of only 498 of its soldiers in Ukraine.
  • The report said the FSB was being blamed for the failure of the invasion but had been given no warning of it and was unprepared to deal with the effects of crippling sanctions.
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  • The whistleblower added that no one in the government knew the true figure of the dead because “we have lost contact with major divisions”.
  • FSB officers had been ordered to assess the effects of western sanctions, they said, but were told that it was a hypothetical box-ticking exercise. “You have to write the analysis in a way that makes Russia the victor . . . otherwise you get questioned for not doing good work,” they wrote. “Suddenly it happens and everything comes down to your completely groundless analysis.
  • “[We are] acting intuitively, on emotion . . . our stakes will have to be raised ever higher with the hope that suddenly something might come through for us.
  • “By and large, though, Russia has no way out. There are no options for a possible victory, only defeat.”
  • The letter said that Ramzan Kadyrov, the Chechen leader and an ally of Putin, was on the verge of outright conflict with the Russians after his “hit squad”, sent to kill President Zelensky, was destroyed by Ukrainian forces.
  • Even if Zelensky were killed, the report said, Russia would have no hope of occupying Ukraine. “Even with minimum resistance from the Ukrainians we’d need over 500,000 people, not including supply and logistics workers.”
  • The analyst said that the SVR, Russia’s foreign intelligence service, was trying to “dig up dirt” to claim that Ukraine had built nuclear weapons, a pretext for a pre-emptive strike.
  • The 2,000-word document was published by Vladimir Osechkin, a Russian human rights activist who runs the anti-corruption website Gulagu.net.
  • Christo Grozev, an expert on the Russian security services, said he had shown the letter to two FSB officers, both of whom had had “no doubt it was written by a colleague”.
  • The war, the writer said, had been given a “provisional deadline” of June because by then the Russian economy will have collapsed. “I have hardly slept at all recently, working all hours, in a brain-fog,” they wrote. “Maybe it’s from overwork, but I feel like I am in a surreal world. Pandora’s Box has been opened.”
  • The author said they could not rule out international conflict and that they were expecting “some f***ing adviser to convince the leadership” to send an ultimatum to the West threatening war if sanctions were not lifted.
  • “What if the West refuses?” they wrote. “In that instance I won’t exclude that we will be pulled into a real international conflict, just like Hitler in 1939.” Elsewhere in the letter they said: “Our position is like Germany in 1943-44 — but that’s our starting position.”
criscimagnael

ISIS Claims Bombing of Pakistani Mosque, Killing Dozens - The New York Times - 0 views

  • A bomb tore through a Shiite mosque in Peshawar, in northwestern Pakistan, on Friday, killing at least 57 people and wounding more than 100 in one of the worst terrorist attacks in Pakistan in several years.
  • Police officials said that at least one gunman on a motorcycle had killed two police guards before entering the mosque and detonating what appeared to be a suicide vest, while another official said there were two attackers.
  • Asked if they were able to identify the bodies, he said that in many cases the police had just brought severed body parts to the hospital.
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  • The attack on Friday broke a relative lull in violence in Peshawar, which has borne the brunt of Taliban militancy in recent years. Sheikh Rashid Ahmed, the interior minister, called the attack an attempt to “disrupt peace and tranquillity of the provincial capital,” according to state-run news media.
  • In May 2019, ISIS-K created a separate Pakistani chapter, which has carried out attacks in Baluchistan Province, targeting ethnic Hazara Shiites.
  • Last fall, ISIS-K carried out high-profile bombings at two Shiite mosques in Afghanistan, killing and wounding dozens.
  • A second mosque attack on Friday, in Paktia Province in Afghanistan, southwest of Peshawar, killed at least three people and wounded more than two dozen after an explosive device was detonated, according to a Taliban spokesman.
Javier E

Opinion | Meet Alexander Dugin, author of Putin's deadly playbook - The Washington Post - 0 views

  • a broader understanding is needed of Dugin’s deadly ideas. Russia has been running his playbook for the past 20 years, and it has brought us here, to the brink of another world war.
  • A product of late-period Soviet decline, Dugin belongs to the long, dismal line of political theorists who invent a strong and glorious past — infused with mysticism and obedient to authority — to explain a failed present.
  • The future lies in reclaiming this past from the liberal, commercial, cosmopolitan present (often represented by the Jewish people).
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  • Such thinkers had a heyday a century ago, in the European wreckage of World War I: Julius Evola, the mad monk of Italian fascism; Charles Maurras, the reactionary French nationalist; Charles Coughlin, the American radio ranter; and even the author of a German book called “Mein Kampf.”
  • Putin has followed that counsel to the letter, and he must have felt things were going well when he saw window-smashing rioters in the corridors of the U.S. Congress, Britain’s Brexit from the European Union and Germany’s growing dependence on Russian natural gas.
  • Alas, a competing sea-based empire of corrupt, money-grubbing individualists, led by the United States and Britain, thwarted Russia’s destiny and brought “Eurasia” — his term for the future Russian empire — low.
  • In his magnum opus, “The Foundations of Geopolitics: The Geopolitical Future of Russia,” published in 1997, Dugin mapped out the game plan in detail. Russian agents should foment racial, religious and sectional divisions within the United States while promoting the United States’ isolationist factions. (Sound familiar?) In Great Britain, the psy-ops effort should focus on exacerbating historic rifts with Continental Europe and separatist movements in Scotland, Wales and Ireland. Western Europe, meanwhile, should be drawn in Russia’s direction by the lure of natural resources: oil, gas and food. NATO would collapse from within.
  • Dugin tells essentially the same story from a Russian point of view. Before modernity ruined everything, a spiritually motivated Russian people promised to unite Europe and Asia into one great empire, appropriately ruled by ethnic Russians.
  • Putin has turned to the pages of Dugin’s text in which he declared: “Ukraine as an independent state with certain territorial ambitions represents an enormous danger for all of Eurasia,” and “without resolving the Ukrainian problem, it is in general senseless to speak about continental politics.”
  • So what comes next, should Putin manage to “resolve” Russia’s “problem” in Ukraine? Dugin envisions a gradual dividing of Europe into zones of German and Russian influence, with Russia very much in charge thanks to its eventual stranglehold over Germany’s resource needs. As Great Britain crumbles and Russia picks up the pieces, the empire of Eurasia will ultimately stretch, in Dugin’s words, “from Dublin to Vladisvostok.”
  • according to Dugin, China, too, must fall. Russia’s ambitions in Asia will require “the territorial disintegration, splintering and the political and administrative partition of the [Chinese] state,” Dugin writes. Russia’s natural partner in the Far East, according to Dugin, is Japan.
  • Dugin’s 600-page doorstop can be boiled down to one idea: The wrong alliance won World War II. If only Hitler had not invaded Russia, Britain could have been broken. The United States would have remained at home, isolationist and divided, and Japan would have ruled the former China as Russia’s junior partner.
Javier E

China under pressure, a debate | Financial Times - 0 views

  • Despite the $300bn mega-bankruptcy of Evergrande, the risk of an immediate 2008-style crisis in China is slight.
  • let us linger over the significance of this point. What China is doing is, after all, staggering. By means of its “three red lines” credit policy, it is stopping in its tracks a gigantic real estate boom. China’s real estate sector, created from scratch since the reforms of 1998, is currently valued at $55tn. That is the most rapid accumulation of wealth in history. It is the financial reflection of the surge in China’s urban population by more than 480mn in a matter of decades.
  • Throughout the history of modern capitalism real estate booms have been associated with credit creation and, as the work of Òscar Jordà, Moritz Schularick and Alan M. Taylor has shown, with major financial crises.
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  • if we are agreed that Beijing looks set to stop the largest property boom in history without unleashing a systemic financial crisis, it is doing something truly remarkable. It is setting a new standard in economic policy.
  • Is this perhaps what policy looks like if it actually takes financial stability seriously? And if we look in the mirror, why aren’t we applauding more loudly?
  • Add to real estate the other domestic factor roiling the Chinese financial markets: Beijing’s remarkable humbling of China’s platform businesses, the second-largest cluster of big tech in the world. That too is without equivalent anywhere else.
  • Beijing’s aim is to ensure that gambling on big tech no longer produces monopolistic rents. Again, as a long-term policy aim, can one really disagree with that?
  • we have two dramatic and deliberate policy-induced shocks of the type for which there is no precedent in the West. Both inflict short-term pain with a view to longer-term social, economic and financial stability.
  • Ultimately political economy determines the conditions for long-run growth. So if you had to bet on a regime, which might actually have what it takes to break a political economy impasse, to humble vested interests and make a “big play” on structural change, which would it be? The United States, the EU or Xi’s China?
  • Beijing’s challenge right now is to manage the fall out from the two most dramatic development policies the world has ever seen, the one-child policy and China’s urbanisation, plus the historic challenge of big tech — less a problem specific to China than the local manifestation of what Shoshana Zuboff calls “surveillance capitalism”.
  • no, Xi’s regime has not yet presented a fully convincing substitute plan. But, as Michael Pettis has forcefully argued, China has options. There is an entire range of policies that Beijing could put in place to substitute for the debt-fuelled infrastructure and housing boom.
  • First and foremost China needs a welfare state befitting of its economic development.
  • China needs to spend heavily on renewable energy and power distribution to break its dependence on coal. If it needs more housing, it should be affordable. All of this would generate more balanced growth. 5 per cent? Perhaps not, but certainly healthier and more sustainable.
  • If it has not so far pursued an alternative growth model in a more determined fashion, some of the blame no doubt falls on the prejudices of the Beijing policy elite. But even more significant are surely the entrenched interests of the infrastructure-construction-local government-credit machine, in other words the kind of political economy factors that generally inhibit the implementation of good policy.
  • The problem is only too familiar in the West. In Europe and the US too, such interest group combinations hobble the search for new growth models. In the United States they put in doubt the possibility of the energy transition, the possibility of providing a healthcare system that is fit for purpose and any initiative on trade policy that involves widening market access.
  • demography is normally treated as a natural parameter for economic activity. But in China’s case the astonishing fact is that the sudden ageing of its workforce is also a policy-induced challenge. It is a legacy of the one-child policy — the most gigantic and coercive intervention in human reproduction ever undertaken.
  • On balance, if you want to be part of history-making economic transformation, China is still the place to be. But it is undeniably shifting gear. And thanks to developments both inside and outside the country, investors will have to reckon with a much more complex picture of opportunity and risk. You are going to need to pick smart and follow the politics and geopolitics closely.
  • If on the other hand you want to invest in the green energy transition — the one big vision of economic development that the world has come up with right now — you simply have to have exposure to China, whether directly or indirectly by way of suppliers to China’s green energy sector. China is where the grand battle over the future of the climate is going to be fought. It will be a huge driver of innovation, capital accumulation and profit, the influence of which will be felt around the world.
  • it is one key area that both the Biden administration and the EU would like to “silo off” from other areas of conflict with China.
  • I worry that we may be too focused on the medium-term. Given the news out of Hong Kong and mainland China, Covid may yet come back to bite us.
  • Here too China is boxed in by its own success. It has successfully pursued a no-Covid policy, but due to the failing of the rest of the world, it has been left to do so in “one country”.
  • Until China finds some way to contain the risks, this is a story to watch. A dramatic Omicron surge across China would upend the entire narrative of the last two years, which is framed by Beijing success in containing the first wave.
Javier E

Chartbook-Unhedged Exchange: China under pressure, a debate - 0 views

  • China’s investment-driven, debt-heavy development model needs replacement. Its geopolitical and economic position will become more precarious if the globe’s authoritarian and liberal democratic blocs decouple, a threat made vivid by the war in Ukraine. Its demographics will be a drag on growth
  • Adam sees reasons for hope:
  • Similarly, the Chinese state’s recent intervention in the tech sector, while it has led to market volatility, is aimed at doing exactly what western regulators want to do, but can’t seem to do: stop huge companies from extracting monopoly rents from the economy. 
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  • China’s technocrats have, to date, demonstrated competence in managing the economy’s imbalances.
  • we think China’s underlying growth story is coming to an end as the country’s economic imbalances become unsustainable and global decoupling picks up steam. The volatility and low valuations, on the other hand, are likely here to stay. 
  • “On balance,” Adam sums up, “If you want to be part of history-making economic transformation, China is still the place to be.”
  • The third point is where we disagree. We just don’t see China as having any good options for maintaining strong growth. 
  • Mainland China has delivered significant extra returns -- 87 basis points a year more than the mighty S&P -- for anyone willing to hack the wild volatility
  • Replace bad investment with domestic consumption. 
  • What imbalances are we talking about? In crude summary, China’s growth has been driven by debt-funded investment, especially in property and infrastructure. The problem is that the returns on these investments are in fast decline, even as debt continues to build up.
  • This can’t go on forever. Eventually, you have all the bridges, trains, airports and apartment blocks you need, and the return on new ones falls below zero (How do you know that you have arrived at that point? When you have a financial crisis).
  • The problem is that without a healthy consumer, China’s only real options to create growth are investment and exports -- and at the same time as return on internal investments are declining, the rest of the world, led by the US, are increasingly wary of dependence on Chinese exports. 
  • What are China’s policy options? Broadly, there are five, as Micheal Pettis explained to us:
  • Stay with the current model.
  • Beijing has policy options.
  • Replace bad investment in things like infrastructure and real estate with good investment in things like tech and healthcare.
  • Replace bad investment with (even) move exports and a wider current account surplus.
  • Just quit it with the bad investment. 
  • we think that options 1 and 5 are not really options at all. The current model will lead to a financial crisis as return on investment falls further and further behind the costs of debt. Simply ceasing to overinvest in infrastructure and real estate, without changing anything else, will simply kill growth. 
  • Option 2 might be summed up -- as Jason Hsu of Ralient Global Advisors summed it up to us -- as China becoming more like Germany.
  • The idea is that China would steer more and more money away from real estate and towards high value-add sectors from biotech to chip manufacturing. 
  • The problem with option 2 is that investment is such a huge part of the Chinese economy that it is difficult to see how that the capital could be efficiently allocated to the country's tech-heavy, high value-add sectors, which are comparatively small
  • The most promising Chinese firms are swimming in capital as it is. And developing productive capacity isn't just about capital. It takes things the state can't rapidly deploy, like knowhow and intellectual property.
  • Option 3 is more promising. China could start, as Adam suggests, by building up a proper welfare safety net. But it is reasonable to expect pretty serious social and institutional resistance to this sort of mass redistribution.
  • why hasn’t China increased its welfare state until now? Longtime China watcher and friend of Unhedged George Magnus suggests it is because of a deep bias in the Chinese policy establishment. “It’s how Leninist systems operate: they think production and supply are everything … if you see a demand problem as a supply problem, you get the wrong answers.”
  • Option 4, increasing exports’ share of China’s economy even further, may be in the abstract the most appealing. But it runs directly into the fact that both China and the US and its allies have reasons to reduce mutual dependence on their economies.
  • The emergence of geopolitical divisions between the west, on the one hand, and Russia and China, on the other, will put globalisation at risk. The autocracies will try to reduce their dependence on western currencies and financial markets. Both they and the west will try to reduce their reliance on trade with adversaries. Supply chains will shorten and regionalise… 
  • Russia must remain a pariah so long as this vile regime survives. But we will also have to devise a new relationship with China. We must still co-operate. Yet we can no longer rely upon this rising giant for essential goods. We are in a new world. Economic decoupling will now surely become deep and irreversible.
  • In all, the most likely scenario is that China’s growth just keeps slowing. That does not mean that investors in China will necessarily lose money. But it does suggest that generic China exposure -- simply owning Chinese equity or credit indices -- is going to be a losing proposition in the long-term
lilyrashkind

Ketanji Brown Jackson: Key takeaways from the Supreme Court confirmation hearings - CNN... - 0 views

  • Judge Ketanji Brown Jackson spent three days in front of the Senate Judiciary Committee -- two of them marathon sessions of questioning -- where she described herself as an impartial and transparent jurist, while taking a calm but forceful tone to push back at GOP claims about her record. The dueling themes that Democrats and Republicans wanted to present about her nomination were punched up in a final day of testimony from outside witnesses Thursday.
  • While she may pick up a few Republican votes, several GOP senators have sought to paint her as a soft on crime, "activist" judge, as they've used her hearings to showcase their messaging themes against Democrats heading into November's midterms.
  • "I am here, standing on the shoulders of generations of Americans who never had anything close to this kind of opportunity," Jackson said Tuesday. She highlighted how her grandparents received little formal education and that her parents went to segregated lower schools in Miami, before studying at Howard University.
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  • As the Senate's questioning was close to winding up Wednesday, Jackson -- at the request of California Democratic Sen. Alex Padilla -- reflected on what message she'd give to young people feeling doubtful of their own abilities as they watched her ascent. She recalled feeling out of place and homesick during her first semester at Harvard University as an undergraduate
  • Coming out of the hearings, Democrats were insistent as ever that Jackson belonged on America's highest court and that they intended to put her there. "She will be confirmed. She will be a star on the Supreme Court," Sen. Patrick Leahy, a Vermont Democrat, said after Wednesday's hearing. "And I for one will proudly cast my vote for her."
  • In the lead-up to the hearings, Republicans previewed a "dignified" approach to the nominee that would be "respectful" in tone and "substantive" in content.
  • The proceedings were at their ugliest in the lines of Republican inquiry focused on the sentences Jackson handed down in select set of child pornography cases. Republicans argued that she was unduly lenient towards those offenders -- a claim at odds with the fact that her record is mostly in line with how judges typically approach these cases.
  • Several of Jackson's harshest questioners are believed to be in contention for a 2024 presidential run. Other talking points GOP has forecast for the 2022 midterm campaign also made their way into the questioning. Cruz badgered her about "critical race theory" -- an academic discipline that looks at system racism, even as Jackson insisted it plays no role in how she approaches judging. At one point he grilled her on the presence of the children's book "Antiracist Baby" in the curriculum of the private school for which Jackson serves on the board.
  • "underscores the dangers of the kind of progressive education that we are hearing about."
  • The Republicans said that they were disappointed she didn't identify a specific judicial philosophy -- like the originalism or textualism strains favored by conservatives -- that she followed. But just as notable was the distance she put between herself and the judicial approaches that had typically been heralded by progressives.
  • Republicans make a case for the Supreme Court to revisit Roe, same-sex marriage and other key rulings
  • He suggested that the legal basis for that ruling -- a concept known as substantive due process, that also underpins rulings on interracial marriage and birth control -- was principle that "allows the court to substitute its opinion for the elected representatives of the people."
marvelgr

Opinion | We're in a Fossil Fuel War. Biden Should Say So. - The New York Times - 0 views

  • Russia’s invasion of Ukraine is a war enabled and exacerbated by the world’s insatiable appetite for fossil fuels.
  • Russia is a petrostate — its economy and global influence are heavily reliant on its vast reserves of oil and natural gas — and Vladimir Putin its petromonarch, another in a line of unsavory characters whom liberal democracies keep doing business with because they’ve got something we can’t live without.
  • The way out of this bind would also appear obvious and urgent. By accelerating our transition to cheap and abundant renewable fuels, we can address two grave threats to the planet at once: the climate-warming, air-polluting menace of hydrocarbons and the dictators who rule their supply.
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  • yet American politicians on the left sure seem incapable of drawing out this connection
  • In his State of the Union address shortly after Russia’s invasion, President Biden whiffed on a major opportunity to revive his stalled climate change agenda by underlining the geopolitical dangers of fossil fuels. His references to climate change — what he has previously called an “existential threat” to the planet — were buried under, rather than connected to, his comments about the war.
  • “This narrative has not been out there — that this war is why we need to get off of fossil fuels,”
  • This could have been a moment for moral clarity on the dangers of fossil fuels — but so far, Democrats have fumbled that message.
  • pundits on the right have had a field day with the notion that Russia’s invasion somehow points up the folly of focusing on climate change. The Wall Street Journal’s editorial board blamed “the Biden Administration’s obsession with climate” for making “the U.S. and Europe vulnerable to Mr. Putin’s energy blackmail” and wrote that “the climate lobby has made Mr. Putin more powerful.”
  • “More groups need to be connecting the dots, making the case that true energy independence is about running on sunshine, because sunshine is free and abundant and cannot be controlled by dictators.
  • such a message is likely to resonate with people. A study she and a co-author published online in 2017 examined the political factors that led to clean energy policies. “What we found was, overwhelmingly, these policies were passed during energy crises,”
  • the Democrats have yet to aggressively make the case for their proposals in the new context of war — to point out that climate policy is not unrelated to foreign policy, and that freeing ourselves from other people’s fuels is the best long-term solution to skyrocketing energy prices.
  • the ways in which fossil fuels make energy prices far more volatile and put us at the behest of powers and leaders that can act in ways that are dangerous and unjust” has rarely been more obvious.
  • “I started to think about the parallels between climate change and this war and it’s clear that the roots of both these threats to humanity are found in fossil fuels,” Krakovska said in the interview. “Burning oil, gas and coal is causing warming and impacts we need to adapt to
  • And Russia sells these resources and uses the money to buy weapons. Other countries are dependent upon these fossil fuels; they don’t make themselves free of them. This is a fossil fuel war. It’s clear we cannot continue to live this way; it will destroy our civilization.”
Javier E

Opinion | Mixing Barstool Conservatives and Social Conservatives Is Warping the G.O.P. ... - 0 views

  • Some conservatives seem to have decided that winning over a new constituency — one that hates rules and ordinances and loves hot people and cool ideas and sex, sex and ideally more sex — is worth changing what it means to be a conservative in the first place.
  • A hornier conservative movement might be more electorally successful, but it will run headfirst into a wall of longstanding conservative policy commitments — to end abortion, eliminate pornography and reinforce the “nuclear family.” Goals that are, at the very least, not very horny.
  • Being a horny bro is not terribly unusual, or even bad. In fact, I’d argue that many men fall in this category — heterosexual men who think that liking sex and sexiness are generally good, uncomplicated things, and think that people who tell them that sex or sexiness is bad or sinful or problematic should be mocked or ignored.
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  • Under the philosophical construct of horny bro-dom, the idea is that abortion isn’t good or bad, but it is an act that a woman wishes to commit, and nobody should tell anybody else what to do, or what not to do. In fact, in 1992, then-Gov. Bill Clinton (a noted horny bro) said
  • Barstool conservatives are “people who, with varying degrees of enthusiasm, accept pornography, homosexuality, drug use, legalized gambling, and whatever Gamergate was about.” But what they do not accept, ever, is being told what to do, whether by “hectoring, schoolmarmish” politicians and media or by the federal government
  • “This attitude is ‘liberal’ in that it regards sexual license as an unalloyed good, and treats any kind of social or religious conservatism as a dead letter. But at the same time it wants to rebel and lash out against the strictures it feels that feminism and political correctness have placed on male liberty, male rights.”
  • The debate that Mr. Hefner and Mr. Buckley had about politics in the 1960s has become a defining question for the conservative movement: whether conservatism is a project intended to get people to do something (even things they do not wish to do) or to protect people from being told what to do.
  • This has created peril for traditional Republicans. Attempting to come across as the “cool mom” of political persuasions — do whatever you want, just do it at home, and ideally, do it in a way that owns the teetotaling libs — is not the natural affect of movement conservatives.
Javier E

How Elon Musk spoiled the dream of 'Full Self-Driving' - The Washington Post - 0 views

  • They said Musk’s erratic leadership style also played a role, forcing them to work at a breakneck pace to develop the technology and to push it out to the public before it was ready. Some said they are worried that, even today, the software is not safe to be used on public roads. Most spoke on the condition of anonymity for fear of retribution.
  • “The system was only progressing very slowly internally” but “the public wanted a product in their hands,” said John Bernal, a former Tesla test operator who worked in its Autopilot department. He was fired in February 2022 when the company alleged improper use of the technology after he had posted videos of Full Self-Driving in action
  • “Elon keeps tweeting, ‘Oh we’re almost there, we’re almost there,’” Bernal said. But “internally, we’re nowhere close, so now we have to work harder and harder and harder.” The team has also bled members in recent months, including senior executives.
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  • “No one believed me that working for Elon was the way it was until they saw how he operated Twitter,” Bernal said, calling Twitter “just the tip of the iceberg on how he operates Tesla.”
  • In April 2019, at a showcase dubbed “Autonomy Investor Day,” Musk made perhaps his boldest prediction as Tesla’s chief executive. “By the middle of next year, we’ll have over a million Tesla cars on the road with full self-driving hardware,” Musk told a roomful of investors. The software updates automatically over the air, and Full Self-Driving would be so reliable, he said, the driver “could go to sleep.”
  • Investors were sold. The following year, Tesla’s stock price soared, making it the most valuable automaker and helping Musk become the world’s richest person
  • To deliver on his promise, Musk assembled a star team of engineers willing to work long hours and problem solve deep into the night. Musk would test the latest software on his own car, then he and other executives would compile “fix-it” requests for their engineers.
  • Those patchwork fixes gave the illusion of relentless progress but masked the lack of a coherent development strategy, former employees said. While competitors such as Alphabet-owned Waymo adopted strict testing protocols that limited where self-driving software could operate, Tesla eventually pushed Full Self-Driving out to 360,000 owners — who paid up to $15,000 to be eligible for the features — and let them activate it at their own discretion.
  • Tesla’s philosophy is simple: The more data (in this case driving) the artificial intelligence guiding the car is exposed to, the faster it learns. But that crude model also means there is a lighter safety net. Tesla has chosen to effectively allow the software to learn on its own, developing sensibilities akin to a brain via technology dubbed “neural nets” with fewer rules, the former employees said. While this has the potential to speed the process, it boils down to essentially a trial and error method of training.
  • Radar originally played a major role in the design of the Tesla vehicles and software, supplementing the cameras by offering a reality check of what was around, particularly if vision might be obscured. Tesla also used ultrasonic sensors, shorter-range devices that detect obstructions within inches of the car. (The company announced last year it was eliminating those as well.)
  • Musk, as the chief tester, also asked for frequent bug fixes to the software, requiring engineers to go in and adjust code. “Nobody comes up with a good idea while being chased by a tiger,” a former senior executive recalled an engineer on the project telling him
  • Toward the end of 2020, Autopilot employees turned on their computers to find in-house workplace monitoring software installed, former employees said. It monitored keystrokes and mouse clicks, and kept track of their image labeling. If the mouse did not move for a period of time, a timer started — and employees could be reprimanded, up to being fired, for periods of inactivity, the former employees said.
  • Some of the people who spoke with The Post said that approach has introduced risks. “I just knew that putting that software out in the streets would not be safe,” said a former Tesla Autopilot engineer who spoke on the condition of anonymity for fear of retaliation. “You can’t predict what the car’s going to do.”
  • Some of the people who spoke with The Post attributed Tesla’s sudden uptick in “phantom braking” reports — where the cars aggressively slow down from high speeds — to the lack of radar. The Post analyzed data from the National Highway Traffic Safety Administration to show incidences surged last year, prompting a federal regulatory investigation.
  • The data showed reports of “phantom braking” rose to 107 complaints over three months, compared to only 34 in the preceding 22 months. After The Post highlighted the problem in a news report, NHTSA received about 250 complaints of the issue in a two-week period. The agency opened an investigation after, it said, it received 354 complaints of the problem spanning a period of nine months.
  • “It’s not the sole reason they’re having [trouble] but it’s big a part of it,” said Missy Cummings, a former senior safety adviser for NHTSA, who has criticized the company’s approach and recused herself on matters related to Tesla. “The radar helped detect objects in the forward field. [For] computer vision which is rife with errors, it serves as a sensor fusion way to check if there is a problem.”
  • Even with radar, Teslas were less sophisticated than the lidar and radar-equipped cars of competitors.“One of the key advantages of lidar is that it will never fail to see a train or truck, even if it doesn’t know what it is,” said Brad Templeton, a longtime self-driving car developer and consultant who worked on Google’s self-driving car. “It knows there is an object in front and the vehicle can stop without knowing more than that.”
  • Musk’s resistance to suggestions led to a culture of deference, former employees said. Tesla fired employees who pushed back on his approach. The company was also pushing out so many updates to its software that in late 2021, NHTSA publicly admonished Tesla for issuing fixes without a formal recall notice.
  • Tesla engineers have been burning out, quitting and looking for opportunities elsewhere. Andrej Karpathy, Tesla’s director of artificial intelligence, took a months-long sabbatical last year before leaving Tesla and taking a position this year at OpenAI, the company behind language-modeling software ChatGPT.
  • One of the former employees said that he left for Waymo. “They weren’t really wondering if their car’s going to run the stop sign,” the engineer said. “They’re just focusing on making the whole thing achievable in the long term, as opposed to hurrying it up.”
Javier E

Opinion | The Cold War With China Is Changing Everything - The New York Times - 0 views

  • Governing during this era will require extraordinary levels of experienced statesmanship — running industrial programs that don’t become bloated, partially deglobalizing the economy without setting off trade wars, steadily outcompeting China without humiliating it. If China realizes it is falling further behind every year, then an invasion of Taiwan may be more imminent.
  • Miller was asked what were the odds that over the next five years a dangerous military clash between the United States and China would produce an economic crisis equivalent to the Great Depression. He put the odds at 20 percent.
Javier E

How Sunak may succeed in stopping the boats - 0 views

  • After all, much as its backbenchers huff and puff, even Labour has admitted an important principle: there is a limit to the number of refugees this country can accept.
  • In parliament on Monday, the shadow immigration minister, Stephen Kinnock, said explicitly that “safe and legal routes” for immigration must be “capped” and “based on prioritisation”
  • With an estimated 32.5 million refugees in the world, this ought to be a statement of the obvious
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  • yet it is one the government’s opponents are always reluctant to admit because its logical corollary is that there will always be an incentive for those not included under the cap to try their luck in the Channel — unless they perceive a high risk of deportation. You cannot stop the boats while taking in the passengers.
  • Sunak’s policy, despite its logic, faces a tortuous road ahead. To ministers’ surprise, they won their case on the Rwanda scheme in British courts last year, only to have the first flight blocked in the middle of the night by an ECHR judge.
  • Yet as the home secretary recently suggested, the government still believes it can get its way. The ECHR, despite its reputation for inflexible and expansionist application of human rights law, can be expedient when its institutional reach is under threat
  • In 2012, for example, after an unmanageable surge of cases that provoked European governments’ wrath, the ECHR agreed to limit itself to intervening only where it believed national courts had not done their jobs properly. Its caseload quickly shrank.
  • With the UK outside the EU and therefore able to leave the ECHR with relative ease, the court’s survival instinct has kicked in. Its officials are said to have been taken aback by the hostility to its Rwanda injunction last June and are in a mood to compromise to avoid the risk of losing the UK altogether
  • Even assuming the legislation takes full effect, it may not work. Migrant arrivals are expected to reach 65,000 this year. The asylum backlog stands at 166,000 and counting, hotels are full to bursting and the government hasn’t yet sent a single person to Rwanda, which in turn hasn’t built the capacity to house more than 200. No wonder most think the policy is doomed.
  • Between the prospect of being deported, housed in unappealing lodgings such as barges and RAF bases rather than hotels, and caught by the French, who are being given large sums of money to step up their coastal policing, the government is hoping it can make trying to cross the Channel sufficiently unattractive
  • There has been a sharp drop in the number of Albanians arriving on our beaches since the government signed a co-operation agreement with Tirana, stepped up deportations and publicised both.
  • evidence from Canada in 2016, where a publicity campaign highlighting the deportation of failed asylum seekers from Hungary led to a dramatic drop in arrivals.
  • It all depends on what’s required to deter people from crossing. The aim, after all, isn’t to run a constant, high-volume travel service to Kigali, but to stop people from getting on boats in the first place. This may already be working
  • This leaves the final piece, which is the expansion of “safe and legal routes” to the UK. It has taken months of awkward media interviews, select committee hearings and the threat of a backbench rebellion, but the government has finally accepted it needs a better system for taking in legitimate refugees.
  • One way is a broader, Ukraine-style scheme, so households can bring in refugees if they agree to take them in
  • Another is to allow for more extended family reunifications for refugees who have relatives here
  • And another would be to expand the practice of assessing and accepting people at UN camps, like the Syrian resettlement scheme
  • After years of ineffectual government under Theresa May and Boris Johnson, we have become used to the idea that ministers never have any ability or intention of keeping their promises
Javier E

Carlos Moreno Wanted to Improve Cities. Conspiracy Theorists Are Coming for Him. - The ... - 0 views

  • For most of his 40-year career, Carlos Moreno, a scientist and business professor in Paris, worked in relative peace.Many cities around the world embraced a concept he started to develop in 2010. Called the 15-minute city, the idea is that everyday destinations such as schools, stores and offices should be only a short walk or bike ride away from home. A group of nearly 100 mayors worldwide embraced it as a way to help recover from the pandemic.
  • In recent weeks, a deluge of rumors and distortions have taken aim at Mr. Moreno’s proposal. Driven in part by climate change deniers and backers of the QAnon conspiracy theory, false claims have circulated online, at protests and even in government hearings that 15-minute cities were a precursor to “climate change lockdowns” — urban “prison camps” in which residents’ movements would be surveilled and heavily restricted.
  • Many attacked Mr. Moreno, 63, directly. The professor, who teaches at the University of Paris 1 Panthéon-Sorbonne, faced harassment in online forums and over email. He was accused without evidence of being an agent of an invisible totalitarian world government. He was likened to criminals and dictators.
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  • he started receiving death threats. People said they wished he and his family had been killed by drug lords, told him that “sooner or later your punishment will arrive” and proposed that he be nailed into a coffin or run over by a cement roller.
  • Mr. Moreno, who grew up in Colombia, began working as a researcher in a computer science and robotics lab in Paris in 1983; the career that followed involved creating a start-up, meeting the Dalai Lama and being named a knight of the Légion d’Honneur. His work has won several awards and spanned many fields — automotive, medical, nuclear, military, even home goods.
  • Many of the recent threats have been directed at scientists studying Covid-19. In a survey of 321 such scientists who had given media interviews, the journal Nature found that 22 percent had received threats of physical or sexual violence and 15 percent had received death threats
  • Last year, an Austrian doctor who was a vocal supporter of vaccines and a repeated target of threats died by suicide.
  • increasingly, even professors and researchers without much of a public persona have faced intimidation from extremists and conspiracy theorists.
  • The idea owes much to its many predecessors: “neighborhood units” and “garden cities” in the early 1900s, the community-focused urban planning pioneered by the activist Jane Jacobs in the 1960s, even support for “new urbanism” and walkable cities in the 1990s. So-called low-traffic neighborhoods, or LTNs, have been set up in several British cities over the past few decades.
  • Around 2010, he started thinking about how technology could help create sustainable cities. Eventually, he refined his ideas about “human smart cities” and “living cities” into his 2016 proposal for 15-minute cities.
  • Critics of 15-minute cities have been outspoken, arguing that a concept developed in Europe may not translate well to highly segregated American cities. A Harvard economist wrote in a blog post for the London School of Economics and Political Science in 2021 that the concept was a “dead end” that would exacerbate “enormous inequalities in cities” by subdividing without connecting them.
  • Jordan Peterson, a Canadian psychologist with four million Twitter followers, suggested that 15-minute cities were “perhaps the worst imaginable perversion” of the idea of walkable neighborhoods. He linked to a post about the “Great Reset,” an economic recovery plan proposed by the World Economic Forum that has spawned hordes of rumors about a pandemic-fueled plot to destroy capitalism.
  • A member of Britain’s Parliament said that 15-minute cities were “an international socialist concept” that would “cost us our personal freedoms.” QAnon supporters said the derailment of a train carrying hazardous chemicals in Ohio was an intentional move meant to push rural residents into 15-minute cities.
  • “Conspiracy-mongers have built a complete story: climate denialism, Covid-19, anti-vax, 5G controlling the brains of citizens, and the 15-minute city for introducing a perimeter for day-to-day life,” Mr. Moreno said. “This storytelling is totally insane, totally irrational for us, but it makes sense for them.”
  • The multipronged conspiracy theory quickly became “turbocharged” after the Oxford protest, said Jennie King, head of climate research and policy at the Institute for Strategic Dialogue, a think tank that studies online platforms.
  • “You have this snowball effect of a policy, which in principle was only going to affect a small urban population, getting extrapolated and becoming this crucible where far-right groups, industry-sponsored lobbying groups, conspiracist movements, anti-lockdown groups and more saw an opportunity to insert their worldview into the mainstream and to piggyback on the news cycle,”
  • The vitriol currently directed at Mr. Moreno and researchers like him mirrors “the broader erosion of trust in experts and institutions,”
  • Modern conspiracy theorists and extremists turn the people they disagree with into scapegoats for a vast array of societal ills, blaming them personally for causing the high cost of living or various health crises and creating an “us-versus-them” environment, she said.
  • “I am not a politician, I am not a candidate for anything — as a researcher, my duty is to explore and deepen my ideas with scientific methodology,” he said. “It is totally unbelievable that we could receive a death threat just for working as scientists.”
Javier E

Twitter is dying | TechCrunch - 0 views

  • if the point is simply pure destruction — building a chaos machine by removing a source of valuable information from our connected world, where groups of all stripes could communicate and organize, and replacing that with a place of parody that rewards insincerity, time-wasting and the worst forms of communication in order to degrade the better half — then he’s done a remarkable job in very short order. Truly it’s an amazing act of demolition. But, well, $44 billion can buy you a lot of wrecking balls.
  • That our system allows wealth to be turned into a weapon to nuke things of broad societal value is one hard lesson we should take away from the wreckage of downed turquoise feathers.
  • We should also consider how the ‘rules based order’ we’ve devised seems unable to stand up to a bully intent on replacing free access to information with paid disinformation — and how our democratic systems seem so incapable and frozen in the face of confident vandals running around spray-painting ‘freedom’ all over the walls as they burn the library down.
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  • 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.
Javier E

Regular Old Intelligence is Sufficient--Even Lovely - 0 views

  • Ezra Klein, has done some of the most dedicated reporting on the topic since he moved to the Bay Area a few years ago, talking with many of the people creating this new technology.
  • one is that the people building these systems have only a limited sense of what’s actually happening inside the black box—the bot is doing endless calculations instantaneously, but not in a way even their inventors can actually follow
  • an obvious question, one Klein has asked: “’If you think calamity so possible, why do this at all?
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  • second, the people inventing them think they are potentially incredibly dangerous: ten percent of them, in fact, think they might extinguish the human species. They don’t know exactly how, but think Sorcerer’s Apprentice (or google ‘paper clip maximizer.’)
  • One pundit after another explains that an AI program called Deep Mind worked far faster than scientists doing experiments to uncover the basic structure of all the different proteins, which will allow quicker drug development. It’s regarded as ipso facto better because it’s faster, and hence—implicitly—worth taking the risks that come with AI.
  • That is, it seems to me, a dumb answer from smart people—the answer not of people who have thought hard about ethics or even outcomes, but the answer that would be supplied by a kind of cultist.
  • (Probably the kind with stock options).
  • it does go, fairly neatly, with the default modern assumption that if we can do something we should do it, which is what I want to talk about. The question that I think very few have bothered to answer is, why?
  • But why? The sun won’t blow up for a few billion years, meaning that if we don’t manage to drive ourselves to extinction, we’ve got all the time in the world. If it takes a generation or two for normal intelligence to come up with the structure of all the proteins, some people may die because a drug isn’t developed in time for their particular disease, but erring on the side of avoiding extinction seems mathematically sound
  • Allowing that we’re already good enough—indeed that our limitations are intrinsic to us, define us, and make us human—should guide us towards trying to shut down this technology before it does deep damage.
  • The other challenge that people cite, over and over again, to justify running the risks of AI is to “combat climate change,
  • As it happens, regular old intelligence has already give us most of what we need: engineers have cut the cost of solar power and windpower and the batteries to store the energy they produce so dramatically that they’re now the cheapest power on earth
  • We don’t actually need artificial intelligence in this case; we need natural compassion, so that we work with the necessary speed to deploy these technologies.
  • Beyond those, the cases become trivial, or worse
  • All of this is a way of saying something we don’t say as often as we should: humans are good enough. We don’t require improvement. We can solve the challenges we face, as humans.
  • It may take us longer than if we can employ some “new form of intelligence,” but slow and steady is the whole point of the race.
  • Unless, of course, you’re trying to make money, in which case “first-mover advantage” is the point
  • I find they often answer from something that sounds like the A.I.’s perspective. Many — not all, but enough that I feel comfortable in this characterization — feel that they have a responsibility to usher this new form of intelligence into the world.”
  • here’s the thing: pausing, slowing down, stopping calls on the one human gift shared by no other creature, and perhaps by no machine. We are the animal that can, if we want to, decide not to do something we’re capable of doing.
  • n individual terms, that ability forms the core of our ethical and religious systems; in societal terms it’s been crucial as technology has developed over the last century. We’ve, so far, reined in nuclear and biological weapons, designer babies, and a few other maximally dangerous new inventions
  • It’s time to say do it again, and fast—faster than the next iteration of this tech.
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