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Venture driven tech is crazy and wasteful, but it's nothing compared to government. How many electric car chargers did the Biden administration build with billi

Venture driven tech is crazy and wasteful, but it's nothing compared to government. How many electric car chargers did the Biden administration build with billions of dollars? A handful. Look at another post today about the fact that Britain can't build a new rail line for a reasonable price. I would say compared to just these examples, the private sector is doing better.

kingkawn 2y ago
They haven’t spent the charger building money yet, fella
11101010001100 2y ago
So we can say the government is doing a good job helping the private sector look better.
toomuchtodo 2y ago
> I would say compared to just these examples, the private sector is doing better. I'm not going to argue subjective opinion, but simply point out that investors seeking venture exposure should familiarize themselves with the accredited investor test Matt Levine of Bloomberg's Money Stuff suggests: https://www.bloomberg.com/opinion/articles/2024-10-22/the-sophisticated-investor-test https://www.bloomberg.com/opinion/articles/2024-10-22/the-so... | https://archive.today/dytZs https://archive.today/dytZs > I have proposed my own solution, which I call the “Certificate of Dumb Investment.” The idea is that anyone can go to the SEC and ask for the certificate, which says: > I want to buy a dumb investment. I understand that the person selling it will almost certainly steal all my money, and that I would almost certainly be better off just buying index funds, but I want to do this dumb thing anyway. I agree that I will never, under any circumstances, complain to anyone when this investment inevitably goes wrong. I understand that violating this agreement is a felony. > And then the SEC will slap you in the face and say “really?” and if you say “yes really” then they give you the certificate and you can buy whatever private investment you want. Who am I to get in the way of unsophisticated money doing unsophisticated things? That's not government waste, that's freedom. If you think you can do better, and prefer venture over a DraftKings account, 0DTE options, or a lottery ticket, go for it. That mental model is sophisticated money opportunity. Tangential: https://longbets.org/362/ https://longbets.org/362/
ElevenLathe 2y ago
It's a false dichotomy. Big business is finance is government is media. The trains are expensive and late and crowded because nobody with power cares if they are cheap or finished or usable -- they have private drivers, private jets, private everything. The oligarchy is responsible, and sure they are in the so-called public sector, but are also obviously outside it.

kingkawn 2y ago

They haven’t spent the charger building money yet, fella

11101010001100 2y ago

So we can say the government is doing a good job helping the private sector look better.

toomuchtodo 2y ago

> I would say compared to just these examples, the private sector is doing better. I'm not going to argue subjective opinion, but simply point out that investors seeking venture exposure should familiarize themselves with the accredited investor test Matt Levine of Bloomberg's Money Stuff suggests: https://www.bloomberg.com/opinion/articles/2024-10-22/the-sophisticated-investor-test https://www.bloomberg.com/opinion/articles/2024-10-22/the-so... | https://archive.today/dytZs https://archive.today/dytZs > I have proposed my own solution, which I call the “Certificate of Dumb Investment.” The idea is that anyone can go to the SEC and ask for the certificate, which says: > I want to buy a dumb investment. I understand that the person selling it will almost certainly steal all my money, and that I would almost certainly be better off just buying index funds, but I want to do this dumb thing anyway. I agree that I will never, under any circumstances, complain to anyone when this investment inevitably goes wrong. I understand that violating this agreement is a felony. > And then the SEC will slap you in the face and say “really?” and if you say “yes really” then they give you the certificate and you can buy whatever private investment you want. Who am I to get in the way of unsophisticated money doing unsophisticated things? That's not government waste, that's freedom. If you think you can do better, and prefer venture over a DraftKings account, 0DTE options, or a lottery ticket, go for it. That mental model is sophisticated money opportunity. Tangential: https://longbets.org/362/ https://longbets.org/362/

ElevenLathe 2y ago

It's a false dichotomy. Big business is finance is government is media. The trains are expensive and late and crowded because nobody with power cares if they are cheap or finished or usable -- they have private drivers, private jets, private everything. The oligarchy is responsible, and sure they are in the so-called public sector, but are also obviously outside it.