I just bought a toaster and my 4 year old son (who had never seen a toaster) acts like it’s alchemy

Sorry I was too direct, just felt strong engagement farming vibes on this one. I highly value your take on most non poop topics.

My response: We need more women on Nostr.

Sorry this isn’t twitter

Follow #[3]​ for more pooping advice 👀👀👀

And the “Shitpost of the Day” award goes to … #[0]​ 🎉 nostr:note1t9nyrlcv03qm7z4n0wyel0ctr88eurppdsrkv8vfhqaps39ay5nqfaqcr6

Normally I sit down to poop, so pee doesn't bring much chaos into the equation. How do you poop?

I need to know if and when #[0]​ has seen the most recent love is blind. #teammarshall all the way

I need to know if and when #[0]​ has seen the most recent love is blind. #teammarshall all the way

Too many people have given Elon a pass. Don't give him a pass.

He's a marketer, not a founder or an engineer. He didn't found PayPal or Tesla; he bought into them early. He's good at selling narratives and equity valuation for perpetually unprofitable companies.

Everything for him is a narrative. His green revolution was a narrative to sell more cars and get more subsidies. His bitcoin purchase was to gain appeal among bitcoin/crypto people in a bull market. And he shilled doge like a dumbass. His SpaceX narrative is to get money from the government.

His rooftop solar thing was an outright scam; the technology isn't ready and went nowhere because of that. His full-self-driving-in-an-intermediate-term timeline was a scam, and is going nowhere because of that. He makes scams to draw people and capital in, because for him it's all about narratives and equity valuation.

And then he dug unproductive holes, suggested unproductive hyper-tubes, built meme flamethrowers, for what? It's a narrative, not a business. None of this is real productive shit to make peoples' lives better.

His latest "we need free speech" narrative was a scam too. He tapped into something real, which is what marketers do and why it kind of worked. Yes, we need free speech. Yes, Twitter had censorship issues. He saw that and jumped on it maliciously rather than productively.

But what did he replace it with? He replaced it with arbitrary journalist censorship about his private jet, arbitrary censorship of Substack, selective Twitter Files release, won't talk seriously about any of his China connections because Xi Jinping fucking owns him economically there like Jack Ma, has his balls firmly in his grasp, etc.

Elon's playing the narrative, the anti-woke meme of the day. He's a master meme-momentum-player. Don't fall for it.

The money in the money market fund is still held in banks somewhere tho

I don’t wanna get too ahead of myself but we may be about to see a major public reckoning on what on earth banks even are and what they are supposed to do.

SVB didn’t go down due to “the tech bubble” or really anything to do with “banking Silicon Valley” being a bad idea. if anything, it’s a great idea! Their deposits went up ~2.5x in 2 years because there was a shit load of cash that needed to be banked! (debate separately to what extent that was a ZIRP phenomenon. I’m not saying this was good in the grand scheme of things. just that, in context, it was good business).

the problem is what to put the money in. most nocoiners seem to think that their deposits just sit there “as money,” and although I’m sure they don’t imagine notes in a vault, exactly, to a large extent that was true for SVB: they held treasuries - the “risk free” asset lmfao - which is as close to cash as you can get in a liquid security.

the conundrum here is that there literally is no such thing as “liquid dollars” - there is only credit. all dollar assets are somebody else’s debt. for all intents and purposes, treasuries *are dollars*. the idea of “keeping it in cash” at the relevant magnitudes is literally nonsensical. what would it even mean? deposit it at *another bank*? that hardly solves the problem!

the further you tug at this thread, the more you realise that dollars can only really be defined as vacuous promises by the US government to … one day give you slightly more dollars?!? that realisation is now getting aired in public.

I think the first consequence as this starts to sink in will be a massive preference for shorter term debt that can just be rolled over and over and over because the lesson of SVB is the duration sensitivity is absolutely not worth it. you can literally evaporate hundreds of billions of dollars by getting that just a little wrong even though you didn’t have much of a choice (“RISK FREE ASSET” LOLOLOLOLOLOL) this is yet another example of fiat driving up time preference and corrupting the information signals necessary to coordinate long-term capital investment. but oh well, the currency is collapsing so we have bigger fish to fry than the yield of long-dated bonds 😂

but the juicy bit is that we may be on the cusp of this reasoning, and the insanity of fractional reserve and central banking, finally being aired in public as people try to make sense of all this.

or maybe not, I dunno. maybe I’m naive. but I’m also bullish 🤙

it is me. I am it. we are one.

I'm pretty sure you were wearing this when I first met you in Riga; it left a mark 😂

You going to go to Prague and Dam this year Allen?

the yield is the friends we made along the way

#[0]