Theme: Incentives

  • I just follow incentives. Moral arguments generally are used to obscure motives.

    I just follow incentives. Moral arguments generally are used to obscure motives. Slavery alone wasn’t enough for war.


    Source date (UTC): 2015-07-08 20:05:04 UTC

    Original post: https://twitter.com/i/web/status/618873453408591872

    Reply addressees: @randiego2 @voxdotcom

    Replying to: https://twitter.com/i/web/status/618660498268012544


    IN REPLY TO:

    @randiego2

    @curtdoolittle @voxdotcom Wow, that’s some laughably twisted historical revisionism.

    Original post: https://twitter.com/i/web/status/618660498268012544

  • SUCCESS? 1) Develop a long-term model that you can use to make endless decisions

    SUCCESS?

    1) Develop a long-term model that you can use to make endless decisions with.

    2) Decide, instruct and act decisively and consistently in accordance with that model. Big decisions are not as impactful as the thousand decisions everyone makes every day.

    3) Reduce your model to a mantra or phrase that all staff can use to make concurrent decisions in the multitudinous tie breakers that face all of us when choosing between relatively equal outcomes. Otherwise they will act in their own interests, or with false economy on those thousand little decisions every day.

    4) Generate opportunities that you can act on far in advance when they are very cheap. (Act on what is important but not urgent.) Make lots of cheap early bets. Plant lots of seeds.

    5) In the face of complexity, choose the solution that covers most bets while accomplishing the central objective, not the most efficient or optimum solution.

    6) Revise your model whenever possible to accommodate new learning.

    7) Act as truthfully, morally and ethically as possible with your peers and subordinates, and as ruthlessly as possible with competitors. A good reputation produces discounts on all actions and transactions.

    8) Attract, Build, and Keep Key Talent. Dispose of weak talent.

    9) Be extremely jealous of your think-time, and make sure you get plenty of it.

    10) Investors are creditors, not friends.

    11) Work in the interests of your customers and staff and they will take care of your investors. You can’t do it any other way.

    12) Work more than anyone else does. Because hard work is all that makes a marginal difference.


    Source date (UTC): 2015-07-07 11:03:00 UTC

  • ECONOMICS OF CONCURRENCY

    [C]oncurrency – e.g. multitasking – is hard, we all know that.

    In the following post I analyze the economics of concurrency, using the example of a layered conversation with two members, and many concurrent threads occurring in overlapping time intervals.

    (If you would think it a fun exercise, write up a comment about another topic of choice in multitasking – besides conversations, that is — and I’ll merge it into a generalized theory.  I already have that theory in the back of my head one way or another, and  social proof by induction is nice (beware the pun.) )


     

    Handling n+1 threads of conversation with another person concurrently requires:

    1. excellent working memory, to generate shared implicit context,
    2. excellent verbal intelligence, to generate shared explicit context for ambiguity mitigation,
    3. precision in phrasing,
    4. parsimony in phrasing,
    5. shared, similar, experiences,
    6. unshared, differing, experiences,
    7. similar time preference

    Fulfilling these seven requirements, it is possible to handle any amount of conversations at the same time, where the amount must not conflict with:

    a) your working memory limitations – most people can maintain five to nine different chunks of data at the same time quite well – to generate implicit shared context, or,
    b) the verbosity of speech you can mentally afford to invest in, to generate explicit shared context, or;
    c) the precision of speech you can mentally afford to invest in – from fluffy-emotive to precise-systemizing – or;
    d) the use of the absolute minimum amount of words necessary to convey your point precisely;

    and converges on having:

    e) experienced, and grown up with, overlapping and similar, as well as differing past life histories, and;
    f) overlapping future planning horizons, and;
    g) similarity in future time orientation.

    So you see, handling any amount of ongoing conversations with the same person is a matter of fulfilling those requirements, and not putting oneself under too many restrictions due to acting, and having acted, unconstructively.


     

    Now, the above part was about one quite specific use case. Can you think up more?

    Head tips to Bernard Spil for the idea and Curt Doolittle for review.

  • ECONOMICS OF CONCURRENCY

    [C]oncurrency – e.g. multitasking – is hard, we all know that.

    In the following post I analyze the economics of concurrency, using the example of a layered conversation with two members, and many concurrent threads occurring in overlapping time intervals.

    (If you would think it a fun exercise, write up a comment about another topic of choice in multitasking – besides conversations, that is — and I’ll merge it into a generalized theory.  I already have that theory in the back of my head one way or another, and  social proof by induction is nice (beware the pun.) )


     

    Handling n+1 threads of conversation with another person concurrently requires:

    1. excellent working memory, to generate shared implicit context,
    2. excellent verbal intelligence, to generate shared explicit context for ambiguity mitigation,
    3. precision in phrasing,
    4. parsimony in phrasing,
    5. shared, similar, experiences,
    6. unshared, differing, experiences,
    7. similar time preference

    Fulfilling these seven requirements, it is possible to handle any amount of conversations at the same time, where the amount must not conflict with:

    a) your working memory limitations – most people can maintain five to nine different chunks of data at the same time quite well – to generate implicit shared context, or,
    b) the verbosity of speech you can mentally afford to invest in, to generate explicit shared context, or;
    c) the precision of speech you can mentally afford to invest in – from fluffy-emotive to precise-systemizing – or;
    d) the use of the absolute minimum amount of words necessary to convey your point precisely;

    and converges on having:

    e) experienced, and grown up with, overlapping and similar, as well as differing past life histories, and;
    f) overlapping future planning horizons, and;
    g) similarity in future time orientation.

    So you see, handling any amount of ongoing conversations with the same person is a matter of fulfilling those requirements, and not putting oneself under too many restrictions due to acting, and having acted, unconstructively.


     

    Now, the above part was about one quite specific use case. Can you think up more?

    Head tips to Bernard Spil for the idea and Curt Doolittle for review.

  • GAWKER PROFITS 6M? So, it’s an interesting internet era statistic, that online m

    GAWKER PROFITS 6M?

    So, it’s an interesting internet era statistic, that online media can have so much presence and influence with so little money. I mean, it’s little more than a small business.

    Same for Drudge. Somewhere in the 10-15M range.

    Compare this to newspapers and television whose infrastructure and distribution costs are tremendous by comparison.


    Source date (UTC): 2015-07-04 03:36:00 UTC

  • Well but neither was religio-moral, or ratio-moral, or ratio-scientific. All cos

    Well but neither was religio-moral, or ratio-moral, or ratio-scientific. All costs oppy costs. What’s more expensive? 😉


    Source date (UTC): 2015-07-02 16:45:00 UTC

    Original post: https://twitter.com/i/web/status/616648778888675328

    Reply addressees: @ne0colonial

    Replying to: https://twitter.com/i/web/status/616622401577701376


    IN REPLY TO:

    Original post on X

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    Original post: https://twitter.com/i/web/status/616622401577701376

  • 1-Every election is bought with patronage positions and pensions. Each election

    1-Every election is bought with patronage positions and pensions. Each election replaces the last group with new.


    Source date (UTC): 2015-06-30 14:39:10 UTC

    Original post: https://twitter.com/i/web/status/615892338515267584

    Reply addressees: @RobLowe

    Replying to: https://twitter.com/i/web/status/615643219225808896


    IN REPLY TO:

    @RobLowe

    Do I have any economists out there? Please educate me: gimme 3 reasons why #Greece is where it is today. What’s the lesson?

    Original post: https://twitter.com/i/web/status/615643219225808896

  • Inequality is a Good

    [I]nequality is a good. In evolves man. Invention is a good. In increases our ability to consume. If we were all equal, we would have nothing to trade. And we would be poor. As are extant people who are in practice equal. To create an economy to sustain man we must create equality constantly. To create humans that evolve man, we must create equality constantly. Equality = stasis = extinction.  

  • Inequality is a Good

    [I]nequality is a good. In evolves man. Invention is a good. In increases our ability to consume. If we were all equal, we would have nothing to trade. And we would be poor. As are extant people who are in practice equal. To create an economy to sustain man we must create equality constantly. To create humans that evolve man, we must create equality constantly. Equality = stasis = extinction.  

  • AMAZON Amazon has this wonderful cloud system. Far better than Google’s or Micro

    AMAZON

    Amazon has this wonderful cloud system. Far better than Google’s or Microsoft’s. And it’s generating profits for them. But it’s a disincentive. After a while, it’s more profitable to borrow the money to build your own, then to use their service.


    Source date (UTC): 2015-06-29 03:15:00 UTC