3 ms·
Efficiency is in tension with resilience. I think the pursuit of efficiency at the high end results in a less efficient system because of all the second order
by franktankbank 1y ago
Efficiency is in tension with resilience. I think the pursuit of efficiency at the high end results in a less efficient system because of all the second order effects.
- bix6 1y agoI like that framing. I also think it’s a disservice to only think in terms of capital efficiency since who really cares how efficient your capital is if you can’t produce food when there’s a shock?
- schmidtleonard 1y agoThe people who own all the capital do and that's part of the problem. Nobody likes seeing red in their brokerage account.
- bix6 1y agoO sure there’s no long term forethought and if you manage others’ money you’ll get fired. It’s brutal.