This guide is meant to serve as both an easy-to-understand introduction to the world of cryptocurrencies as well as an insightful view into the different projects competing for your investments and market dominance and a look at the underlying technology, history and trends.
Premium mediocre is the finest bottle of wine at Olive Garden. Premium mediocre is cupcakes and froyo. Premium mediocre is “truffle” oil on anything (no actual truffles are harmed in the making of “truffle” oil), and extra-leg-room seats in Economy. Premium mediocre is cruise ships, artisan pizza, Game of Thrones, and The Bellagio.
Premium mediocre is food that Instagrams better than it tastes. …
all the coffee at Starbucks is premium mediocre.
premium mediocrity is creating an aura of exclusivity without actually excluding anyone.
At some level, civilization itself is at a transitional premium mediocre state somewhere between industrial modernity in a shitty end-of-life phase, and digital post-scarcity in a shitty early-beta phase.
The essence of premium mediocrity is being optimistically prepared for success by at least being in the right place at the right time, at least for a little while, even if you have no idea how to make anything happen during your window of opportunity.
Today, you’re either above the API or below the API. You either tell robots what to do, or are told by robots what to do. To crash through the API, and into what I previously termed the Jeffersonian middle class, is to go from being predator to prey in the locust economy.
Consumers are concerned about their privacy and don’t like companies knowing their intimate secrets. But they feel powerless and are often resigned to the privacy invasions because they don’t have any real choice. People need to own credit cards, carry cellphones, and have email addresses and social media accounts. That’s what it takes to be a fully functioning human being in the early 21st century. This is why we need the government to step in.
Opting out doesn’t work. It’s nonsense to tell people not to carry a credit card or not to have an email address. And “buyer beware” is putting too much onus on the individual. People don’t test their food for pathogens or their airlines for safety. The government does it. But the government has failed in protecting consumers from internet companies and social media giants. But this will come around. The only effective way to control big corporations is through big government.
In a recent paper, De Loecker and Eeckhout analyzed the balance sheets of listed companies from 1950 to 2014. (In 2014, these firms accounted for around 40% of all sales.)
Higher markups suggest an increase in what economists refer to as “market power.” … higher markups don’t necessarily imply more market power. It is conceivable that there are larger upfront costs to starting a company today than in the past, and that higher markups are necessary to make up for this. Economist Noah Smith provides an excellent review of other criticisms of the paper.
How does it happen that American society at the moment stands on constant terror alert? In no country anywhere in the history of the world has the majority of a population lived in circumstances as benign and well-lighted as those currently at home and at large within the borders of the United States of America. And yet, despite the bulk of reassuring evidence, a divided but democratically inclined body politic finds itself herded into the unifying lockdown imposed by the networked sum of its fears—sexual and racial, cultural, social, and economic, nuanced and naked, founded and unfounded.
Real fear invites action, the decision to flee or fight dependent upon “our feeling of power over the outer world”; expectant fear induces states of paralysis, interprets every coincidence as evil omen, prophesizes the most terrible of possibilities, ascribes “a dreadful meaning to all uncertainty.”
Like the war on drugs, the war on terror is unwinnable because it is waged against an unknown enemy and an abstract noun. But while a work in progress, it is a war that returns a handsome profit to the manufacturers of cruise missiles and a reassuring increase of dictatorial power for a stupefied plutocracy that associates the phrase national security not with the health and well-being of the American people but with the protection of their private wealth and privilege. Unable to erect a secure perimeter around the life and landscape of a free society, the government departments of public safety solve the technical problem by seeing to it that society becomes less free.