"Productivity gains are real when you understand that augmentation is better than replacing humans..." Isn't this where the job losses happen? For example, previously you needed 5 tech writers but now you only need 4 to do the same work. Hopefully it just means that the 5th person finds more work to do, but it isn't clear to me that Jevons paradox kicks in for all cases.
"You're absolutely right!" Thanks for pointing it out. I was expecting that kind of perspective when the author brought up horses, but found the conclusion to be odd. Turns out it was just my reading of it.
"In 1920, there were 25 million horses in the United States, 25 million horses totally ambivalent to two hundred years of progress in mechanical engines.
And not very long after, 93 per cent of those horses had disappeared.
I very much hope we'll get the two decades that horses did."
I'm reminded of the idiom "be careful what you wish for, as you might just get it." Rapid technogical change has historically lead to prosperity over the long term but not in the short term. My fear is that the pace of change this time around is so rapid that the short term destruction will not be something that can be recovered from even over the longer term.
Regardless of whether you think imposing a $100k fee on H1Bs is a good idea or not, there is no way that a 2 day deadline makes sense from an implementation perspective. On a weekend too. This is just going to cause panic and confusion at the border.
This is a common myth. This might explain why Harvard or MIT tuition is high but not the average college. Tuition mostly reflects staff costs and those have been going up due to Baumol's cost disease. Dentists, along with many other industries with its main cost being highly educated staff that haven't managed to scale production like online brokerages, have had a similar price increase since 1970.
Does it help to submit duplicative arguments? I see some pretty strong arguments in the comments already. I wish there was a way to just upvote an existing comment.
While debatably unprofessional to blame your vendor, I found this read to be fascinating. I'm sure there are blog posts that detail how data centers work and fail but it's rare to get that cross over from a software engineering context. It puts into perspective what it takes for an average data center of this class to fail: power outage, generator failure, and then battery loss.
What incentive would there be to take the risk of being the first in the market?
One idea I've been mulling is a progressive corporate tax. It would encourage companies to split up if there aren't massive synergies to justify the increased tax.
This is a great introduction to how valuation of public stocks works. In short, market capitalization is positively correlated with gross margin rates and negatively correlated with earnings volatility and the discount rate, which is a leading indicator for FFR.
It doesn't lead to a more secure network because the costs to attack the network are the same. Attackers will have access to the same technology and have similar costs.
Right, I'm not saying there will be a new ASIC; just that there will be no innovation in the Bitcoin space (unless they switch out of PoW) that leads to less energy being used.
I don't think they do if you're just referring to how difficult it is to pull off a 51% attack. Assume the status quo is that it costs X to secure 51% of the hash power. If there is a new ASIC that can hash twice as fast with the same energy use, then suddenly it will cost 0.5X to secure 51% of the hash power. But if the price of Bitcoin remains the same, then miners will have an incentive to double their hash power as that was their breakeven point before. And so now you've gone back to the previous status quo. Assuming the attackers have access to the new ASICs, it still costs X to 51% attack the network.
If a car can be more efficiently produced, the energy spent producing cars will go up because either more cars will be produced or more features will be added to the car. This is a win for the car consumer. This is very different from Bitcoin where any improvements to the efficiency of mining it (such as transitioning to ASICs) does not lead to a tangible benefit for the Bitcoin user. All major non-ASIC miners will eventually be out-competed out, but the amount of energy wasted will always be correlated to the price of Bitcoin.
How does the author know it isn't the driver that will get the short end of the stick here? To put it differently, what would happen if the restaurant mistakenly charged the driver who is picking up the food more than listed and then the driver pays that mistaken amount with Doordash's credit card? Will they be penalized/fired once Doordash discovers the accounting error?