🚨 Public-firm profit rates have fallen to *half* their 1980 values 🚨, which explains why financial market rates fell despite rising/steady *aggregate* profit rates. papers.ssrn.com/sol3/papers.… New draft with @ASollaci & @CarterDavisFin, & outstanding support from @TonBobrov...🧵

OpenAI's CEO btw 🤡

i can't believe babies suck so much. i am pro kids, i like kids, we should have more kids, but it'd be so much easier to have a flourishing world full of kids if babies sucked less

I think you're imagining me as not being capable of this. It's actually the opposite - I have so much of this instinct that I feel contempt for your son for giving in. Obviously once something has been turned into a direct conflict of wills, the only honorable solution is to hold on forever, even if it means you're still fighting when you're eighty and he's picking your retirement home. My son seems to have inherited my instincts on this, which is probably good long-term but somewhat inconvenient when he's two. I don't know if I could train it out of him, but I don't want to force him into a fully adversarial position where his only two options are continuing disobedience or cowardly surrender, and I definitely don't want to train him that cowardly surrender gets rewarded with "extra privileges". I'm trying to teach him that life is a game of give-and-take where both sides work with each other, make compromises, and end up satisfied. So far this seems to be working - he listens to me on the big things, because he understands that I'm on his side and I make a show of respecting his preferences on the little things.

I've always found seminar preparation to be one of the trickiest parts of academic research. Inspired by @ben_golub and @alexolegimas, I vibe coded Dry Run -- a tool to practice presentations with an AI-powered audience that interrupts you in real-time.

Like @davidbessis and others, I think that Hinton is wrong. To explain why, let me tell you a brief story. About a decade ago, in 2017, I developed an automated theorem-proving framework that was ultimately integrated into Mathematica (see: youtube.com/watch?v=mMaid2jY…) (1/15)

FTC sues to stop Loctite, Liquid Nails construction adhesive merger: ftc.gov/news-events/news/pre…

This is precisely the problem with neoclassical economics. In order to drive "scientific" results, it reduces human behaviour to that of animals (with relatively less developed brains, if I may add).

One of the quiet privileges of academia: you spend your days surrounded by some of the brightest people on the planet — all trying to understand something deeply. Not to sell it, not to exploit it, just to understand. That changes you.

If you give 1m monkeys 10k to trade, one of them will become a billionaire and write a best seller titled "bananomics: using your inner primate to beat the market"

Well, this is unscripted. Ok @grok, you are on. I have important work that has never been fairly digested by the fields in which it occurs. Here is an example. In the early 1990s I noticed something astonishing. Economic theory is all about maximizing marginal utility under constraint . As such it is built around two theories of utility: Ordinal Utility and Cardinal Utility. You with me so far?

I used to work 6am - 6pm, 6 days a week, on a construction site in my early 20s. Honestly? It fucking sucked, dude. I would sit in my car outside the site at 530am, desperately drinking a coffee, telling myself over and over again, "god I wish I was in sciences" Because every night when I got home what did I do? Watch Walter Levin MIT Open Courseware physics lectures. I had already exhausted all the popular science books long before so just started on undergrad level physics. The alternative was drinking a six pack of beer like everyone else and watching bullshit TV. The construction site job was actually better than what I was doing before. Landscaping, stone masonry shit. Backbreaking labor, truly. Breaking concrete slabs up with a sledgehammer and carrying bricks all day. That's literally a punishment in prison. There was a company event for the property development Corp doing the construction I was working for where everyone talked about their degrees. Most people had been at the company for almost a decade, did random unrelated degrees. I realized. If I didn't take control of my life the years would tick by. So I went back to school for engineering physics at age, like, 25. I probably wouldn't graduate until I was 30, but shit. You're going to turn 30 one day anyway. Might as well be doing something you chose. A year into schooling I had my first paying job in a physics lab, basically minimum wage, but my god. I was getting paid to work in a physics lab. I could drink coffee and read papers, build cool stuff. It was insane. The kids around me had no idea how lucky we were to be there. They hadn't suffered being trapped in dead end jobs that leave you too exhausted to really think, plan, get ahead. So I viciously worked my ass off through out engineering physics to play the game as best I could. Get the best internships, connections, etc. By the end of undergrad I was taking graduate level classes and outperforming the PhD students at them. Everything since then had gone better than I could've imagined. I used to think - wow, the dream would be designing fusion reactors, if only. Now I have patents in fusion reactor design. I've worked on particle accelerators, LEO satellite communications, beam driven fusion devices, finite element analysis for RF source design at SLAC. So no. Fuck mind breaking manual labor. Leave it for the robots. Choose your own path. I will say though. There are few things as therapeutic and full body workout as shoveling sand. I can show you at least a dozen different sand shoveling techniques to work every muscle in your upper body. Also wheelbarrow technique.