Investing in regulated markets @formventureshq.
London, England
Joined April 2017
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When the room for tax/ fiscal movement is tight, rebadging existing policy seems to get a decent reception - whether it'll move the dial is another question.
Section 106/ CIL -> Data Centre Covenant
Jopseekers Allowance -> Young Entrepreneurs' Allowance
It's so depressing '250,000' is still used so much that I now need to mute it.
I had (maybe optimistically?) believed that everyone knew the extrapolation that underpins it is so illogical that it would get you laughed out of a year 7 debating club.
Many US-ers seem to think that logically if (company asks for more regulation) -> (that company is seeking regulatory capture). In Europe, people don't tend to believe this. Guess this reflects whether or not you believe regulation is inevitably value destructive?
Suddenly Apple putting cameras in airpods doesn't seem so invasive...
independent.co.uk/tech/dyson…
VAR use is problematic in two ways: uncertainty over when it is triggered; uncertainty over what qualifies as "clear and obvious".
Proposal: mimic cricket's "3 reviews" system. You retain if you are correct. Then scrap "clear and obvious" - replace with "was it right or not".
Nvidia acquiring Hugging Face for $12.9bn at (reported) $150m annualised revenue. Announced they passed $100m earlier this year, so steep growth rate. Still, that's an 86x revenue multiple. I pray to the gods of every religion for such exit multiples.
Incredible that Chatgpt doesn't have to add a disclaimer to its answers to requests for financial advice - esp. given that 44% of 18-40 year olds believe it *is* regulated financial advice. Same with the health advice it hands out,
fca.org.uk/news/press-releas…
Reading that Apple won't allow photos/filming on Airpods, but I they'll end up having to. Other earphones will add cameras to compete, and Meta glasses have proven demand for photos/ filming on your face, so all it will take is for one OEM to add that feature; others will follow.
For those moaning about the alert system:
Is there any conceivable level of fire risk that individuals could cause that would justify using the alert system?
If so, what evidence do you have that that risk threshold has not been met?
A lot of the grandstanding this morning, while accusations still hang over Farage, have a real "that's the real quiz" vibe.
Such an important new publication. I'm undecided on what AI reg infrastructure we will need in 20 years time, but I'm confident it'll look completely different to the current state of affairs.
Powerful AI will change our institutions. Yet most of our attention is on aligning or regulating AI, while treating our institutions as fixed.
Introducing Pax Machina: a new publication about the institutions we need for powerful AI.
It is edited by @MaxKronerDale, @sebkrier, @NoemiDreksler, @LiamPatell, @chelcott9, @synchroaphasia, @ryan_t_lowe, @edelwax, and @klingefjord.
The editorial board consists of Peter Railton, @sethlazar, @saffronhuang, @AmmannNora, @xuanalogue, @IasonGabriel, @hamandcheese, and @deanwball.
Our goal is to seed rigorous debate about what a world of humans and powerful AI could and should look like.
We will publish proposals for new institutions, counterproposals, well-justified design principles, and analyses that change how a class of institutions should be designed.
I’ve been asked several times whether the UK will have its own Kalshi/ Polymarket. As a regulated market VC (and from a family that worked across the horse racing industry - where gambling regs is dinner table chat), thoughts👇
3. Unlikely to qualify for broader beneficial treatment. The Gambling Commission confirmed that the sports staking (accounting for 90% of Kalshi activity) would require a Gambling License; and contracts on financial outcomes could fall within the FCA's binary options ban.
I liked to moan that 'sovereignty' was underspecified - not sufficiently defined to be useful.
The debate has shifted onto 'leverage', which seems equally underspecified. Is it about leverage over a counterparty; or where investment can be leveraged for max impact? Or other?
What is the 'nimby' equivalent for property tax reform? Lots of Londoners think reform would be pro growth but oppose it because they'll likely pay more tax.
I too support all and only pro growth measures for which I incur no personal cost...
