Episode #183 – Capital in the 22nd Century
A response to the paper Capital in the 22nd Century. The paper argues AI will create permanent techno-feudalism. Its starting assumptions are profoundly wrong. Wealth is not a stoc
Episode #182 – Kabuki Theatre
The financial system is Kabuki Theater. AI content floods the internet while nobody can tell real from fake. Bitcoin bridges physical cost to digital information. The reverse repo,