So, I’m not a Luddite, I’m a firm believer in the importance of expertise, but I’m increasingly concerned that the worlds of finance and software are converging and rapidly evolving to the point at which the experience for 90% of the world is going to be “Why are you punching yourself?”
I say this from a line in a programming newsletter that I get:
“I have been working on a few AI projects at Microsoft including some research to put trainable models in Ethereum smart contracts…”
So, how does a normie adequately protect their own interests in the coming world?
Anyway, take this as today’s reminder that the best protection against this business model is confiscatory top marginal tax rates on income AND capital gains. You might not be able to legislate morality, but you can tax the shit out of exploitative business models.
