Noah Smith (from 2020): “One of the scariest scenarios for the 21st century is that of a zero-sum world, where low productivity growth convinces people that the only way to get rich is at someone else’s expense. That sort of dog-eat-dog world would see intensified conflict and political instability. But cheap energy, even more than other kinds of innovation, offers the potential for the world to return to the sort of positive, future-oriented, growth-oriented, win-win culture that we sometimes managed to achieve, in some places, during the 20th century. It’s the future we thought we had lost, but which we might finally get after all.”
FT: “The more we use technology to insulate ourselves from the discomfort of asking questions, the more fearful we might grow about doing it face to face. One academic told me the vast majority of his students “are really up for it” but seem too nervous to take “that final step”. He got so frustrated by the silence in lectures he brought in one of his child’s soft balls and told them: “I’m going to chuck this out and whoever catches it has to ask me a question. Any question.” He says they looked at the ball like it was a hand grenade. Yet asking someone questions face to face can be the best way to make sure you really understand something. I have sometimes asked people to sketch diagrams for me too. This matters if your job involves clear communication — otherwise you can end up regurgitating technical terms because you don’t have the confidence to put them into plain language…Fear of looking ‘stupid’ holds us back from understanding the world better.”
BCG: “The success of any Web3 loyalty offering will entail pairing utility to issued tokens. The utility spectrum can span physical, social, or pure digital utility. Physical utility involves coupling access to real products and services to the digital asset, such as an NFT that grants access to a redeemable product. Tokens can also have social utility in the form of access to community events, VIP benefits, or exclusive brand voting rights. Digital utility extends privileges and access to the digital world in the form of metaverse events, virtual meetups with brand ambassadors, or in-game use of tokens.”
Sam Harris: “I’ve learned about the power of incentives, because as much as I’ve wanted to get back to writing books, having a podcast has shown me that–this won’t surprise you as an economist–but like virtually everyone, I am a creature of incentives, and all of the incentives are aligned away from writing books at the moment. Podcasting is easier, I reach many more people, and it’s a better business. So, for me to go back to writing and embrace the opportunity cost of writing at the moment, I really have to decide, ‘Well, I don’t care about doing the harder thing. I’m happy to do the harder thing. I don’t care about reaching fewer people. I don’t care about it taking much longer to reach those fewer people. And, I don’t care about losing money.’ So, all the incentives are wrong for writing my next book…I think I will ultimately do it, because I think writing is just a muscle. As a thinker, you need to work and you really don’t think as clearly as you can unless you’re writing your thoughts and finally producing the sentence that you think is the best version of any specific thought.”
Mint: “Not so long ago, in the 1990s, travelling in air-conditioned coaches was considered a luxury by India’s middle class. And then came the game changer: AC three-tier coaches, which promised AC travel at affordable prices, which married the comforts of AC travel with the economy of the humble sleeper class. It demonstrated how price-sensitive the Indian market was. This story played out in the Indian skies as well. India’s fast-growing middle class embraced low-cost airlines (perhaps the equivalent of AC three-tier trains) that promised relatively affordable air travel. The steady growth of Vistara seems to suggest two things. India’s fast-growing middle class – which may already be the size of the US population – has begun climbing up the value chain. It is a consequence of the economic boom and the steady rise in standards of living after 1991.”
