
đ˝ Liberty is the cradle of creativity and engine of prosperity. Ever-aspiring artist. Poker. Startup vet (Kraken alum). Investor. Always running. #WeTheNorth
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Joined May 2010
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Itâs not about being smarter than a machine intelligence. Itâs about having something cool for the machine to do. Weâve entered the age of hyper-practicality and unbounded creativity.
So much of the climate hysteria is just aimless guilt roaming the earth in search of futile acts of atonement.
Paper straws worse for the environment than plastic ones, says study trib.al/TEphuYk
HBO's @LastWeekTonight has a long track record of citing social science findings without the appropriate context, massaging them to support whatever point @iamjohnoliver is trying to make.
John Oliver Warned Against Cherry-Picked Studies
Then he cherry-picked his own.
You can now ask ChatGPT âWhat did I make today?â or âWhere did I lose money this month?â about your Kraken account.
Prices, charts and news need no login. Your account is read-only, so ChatGPT canât place trades or move money.
Kraken is live in ChatGPT:
chatgpt.com/plugins/plugin_aâŚ
California speedrunning its way to Atlas Shrugged
this California wealth tax thing is just incredible.
so in October 2025, a California healthcare union proposed a "one time" 5% tax on any billionaire's wealth. the ballot measure will be voted on next month. In early December 2025, California announced that it would be a retroactive tax if passed, applying to anyone with CA residency as of Jan 1, 2026. The objective is to pay for Medi-Cal, California's incredibly dysfunctional healthcare system. (which also functions as a glorified welfare apparatus, but that's a discussion for another time).
polls reveal that the CA electorate is split around 50/50 on the tax, but prediction markets only give Prop 40 a ~23% chance of passing (there are competing measures on the ballet that would nullify it).
there are 200 billionaires in CA, worth collectively somewhere between $2.3 and $2.6 trillion. 5% of that is around $100b, accounting for a small amount of attrition. proponents of the tax forecasted a significant windfall, assuming only a 10% departure rate.
supporters thought they were being clever with the retroactive concept. no billionares would leave CA in the few short months between the tax being proposed and the residency cutoff date, without the tax even having passed yet, right?
well as it turns out, they did.
a new paper [1] from two academics at Stanford called "The Net Present Value of the California Billionaire Tax Act", argues that not only did more billionaires leave due to the proposed tax than its proponents expected, but that the value of the tax, if it does pass, is actually negative.
proponents of the tax only assumed 10% avoidance, that is, only 10% of the taxable base of targeted billionaires would leave CA within the very short Oct-Dec 2025 window. Jaros and Rauh, the Stanford academics, find that a lower bound of 28.6% of the taxable base managed to leave.
just based on known departures, those departures total $577b in net worth, or $28.8b in potential tax lost. this of course does not capture everyone (many left without announcing their departure), so the authors normalize to departure rates estimated from other wealth tax events, and apply other discounts for litigation, arriving arrive at a figure of only $28-$36b in forecasted tax revenues.
but this isn't all! all of the income taxes paid by the departed billionaires are also forsaken. the authors estimate that CA billionaires pay $3.3- 5.8b in annual income taxes. they assume a midpoint of $2b lost in annual collections from departed billionaires. the net present value of that lost income stream is -$68.9 billion.
so when you add it all up you get:
+ $30b one-time tax windfall (estimated)
- $69b in present value of lost future income taxes
= - 38.9b overall net present value of the tax
of course, this analysis is highly estimate driven. the authors simulate the parameters 100k times and find a negative NPV of the implemented tax 85 percent of the time.
and if the tax doesn't pass, which it's not looking like it will, California still ended up losing at least $577b in departed net worth, and they have permanently poisoned the well with entrepreneurs who will now worry about future wealth taxes.
[1]: nber.org/system/files/workinâŚ
Salvatore Delle Palme retweeted
The woke mind virus is real.
In my last two posts I described Macron as a gear spinning in a vacuum, and I laid out the four axioms of the progressive operating system. Man is born good and society corrupts him. Outcomes are explained by structures, not individuals. Equality of outcomes is the measure of justice. The State is the benevolent actor that corrects it all.
Now here's the part people miss: wokism isn't a foreign body that infected this system. It's what you get when you run those same axioms to their logical conclusion.
Wokism changes just one variable: the unit of analysis. The individual becomes the identity group.
Take the first axiom. If society corrupts, wokism names how: patriarchy, systemic racism, heteronormativity, colonial legacy. The corruption is no longer vague. It has a structure, a vocabulary, and a guilty party.
The second axiom. If structures explain outcomes, then every disparity between groups is proof of discrimination. Not a possible sign, proof. And when you can't find the discrimination, it's because it's systemic, unconscious, invisible. The theory can't lose. Evidence confirms it, and absence of evidence confirms it too. That's the signature of an unfalsifiable belief.
The third axiom. If equality of outcomes is justice, then equality before the law isn't enough. You need equity: treating people differently according to their group so results converge. The universal principle that the rule is the same for everyone gets quietly replaced by a ledger of debts and credits between groups.
The fourth axiom. If the State is the great corrector, wokism provides it with a new mission and a new army: diversity offices, mandatory trainings, speech codes, compliance departments, university bureaucracies. It's statism extended into language, hiring, culture, and eventually thought.
Each axiom, pushed one step further, gives you a pillar of wokism. That's why it spread so easily through institutions that already believed the premises. It didn't need to convert them. It just needed to finish their sentence.
But the most revealing part is what happens to punishment.
I said progressivism can't punish. That's not quite true of wokism. Wokism punishes, and hard. It just redistributes punishment.
Status in this system is determined by your place in the hierarchy of victimhood. If you belong to a group defined as oppressed, your actions are explained by context, and holding you accountable becomes suspect. If you belong to a group defined as oppressor, a joke, a tweet, a clumsy word from ten years ago is enough to end a career. No due process, no proportionality, no forgiveness.
So it's not the absence of consequences. It's consequences detached from acts and attached to identity. What you did matters less than what you are.
RenĂŠ Girard saw this coming. He argued that our civilization's concern for victims, which is one of its greatest moral achievements, could be turned into a weapon: victimhood becomes a form of power, and persecution now happens in the name of victims. The scapegoat mechanism doesn't disappear. It gets a moral alibi.
Which brings us back to Macron.
He has publicly criticized American campus theories and the racialization of social questions. I believe he's sincere about it. But you can't fight a conclusion while keeping its premises. As long as you believe outcomes are explained by structures, that justice means equal results, and that the State is the enlightened engineer of society, you're building the infrastructure that wokism will move into. You're just annoyed by the tenant.
That's the deepest problem with technocratic progressivism. It thinks it's the reasonable center, standing against the excesses of the radicals. In reality it's the same operating system with a nicer interface. The radicals aren't betraying its axioms. They're the only ones taking them seriously.
You don't defeat wokism with better communication or a speech at the Sorbonne. You defeat it by going back to the axioms. Individuals are responsible for their actions. The law is the same for everyone. Unequal outcomes are not proof of injustice. And the State is not a god.
Everything else is fighting the smoke while feeding the fire.
Salvatore Delle Palme retweeted
Itâs not a âdoomer cult.â Itâs just people who want to leverage state power to protect their sclerotic business models from disruption.
Salvatore Delle Palme retweeted
Political and economic elites have always had a vested interest in suppressing technologies that democratize power and capital. Donât buy into the lies. Embrace the tech and use it to your advantage.
Salvatore Delle Palme retweeted
Refusing to say âFree Palestineâ doesnât make you pro-genocide.
@Liv_Boeree defends Metallica from the crazies
People are questioning the economic viability of @Tesla putting thrusters in the Roadster.
đď¸ The flying-car opportunity deserves a look...
* Deloitte projects a $115B annual US market by 2035
* Morgan Stanley projects a $1T global market by 2040 and $9T by 2050
* Implies ~40% annual growth using current market estimates
* $9T annual revenue could support $30T+ market cap at above 3.3Ă revenue
đ Air taxis, airport transfers, regional travel and cargo transport
Key drivers: cheaper electric flight, autonomy, time saved bypassing traffic
$TSLA



























