#futurefund — Public Fediverse posts

Norway has a $3.2 trillion sovereign wealth fund — more than $500k per citizen — built on a 78% petroleum tax and the simple principle that resources belong to the public. Australia had a mining boom too. We got a baby bonus, some tax cuts, and a prime minister knifed by a $22 million industry ad campaign. The PRRT now collects less revenue than the beer tax. Less. Than. Beer. Albanese has ruled out any gas export tax changes, of course. Because why would we want Norway's problem of being obscenely wealthy?

#auspol #sovereignty #gasexport #mining #futurefund #prrt

https://www.sbs.com.au/news/article/norway-built-a-3-2-trillion-sovereign-wealth-fund-why-didnt-australia/haasz3tx5

@andyjennings @feather1952 #Norway #GPFG generates far more funds primarily due to the scale and effective management of its substantial #oil and #gas revenues, coupled with a robust global investment strategy. Australia’s #FutureFund, although well-managed and diversified, operates on a smaller scale and has broader funding sources, resulting in relatively LOWER FUND generation compared to Norway’s GPFG.

$1.4Trillion v $120 billion

‘A naive and stupid idea’: how #RishiSunak’s #FutureFund spent millions on failed firms -

The then chancellor’s loan scheme, set up as #COVID19 hit, was supposed to keep dynamic startups going, but ended up giving #taxpayer cash to long-established or #LameDuck businesses

https://www.theguardian.com/business/2023/apr/15/a-naive-and-stupid-idea-how-rishi-sunaks-future-fund-spent-millions-on-failed-firms
#FishyRishi #ToryPoliciesInAction #ToryIncompetence #ToryCorruption

#TheCathyWilcox @cathywilcox Give those kids a good start. My @smh #cartoon. #nswpol #Dom's #futurefund
#alt #alttext

Adani stock rout leaves tens of millions in Australian retirement savings exposed

Fraud allegations send Indian conglomerate’s share prices plunging but super funds contend exposure is limited due to diversification of holdings.

#AdaniGroup #australia #queensland #CommonwealthBank #CBA #FutureFund #adani #CorporateFraud #BJP #NarendraModi #business #industry #stocks #india

https://www.theguardian.com/business/2023/feb/22/adani-stock-rout-leaves-tens-of-millions-in-australian-retirement-savings-exposed

Mystery AI Hype Theater 3000 Episode 5: Sam Bankman-Fried's Future Fund and Fresh AI Hell

Where @alex and I take apart a ridiculous "Change my mind" essay contest from the longtermists, just days before their funding went POOF!

https://videos.trom.tf/w/p/4gykGcMrmHHs7bG2Y6qK9W?playlistPosition=5

#MAIHT3k #FutureFund #AIHype

MacAskill and other members of the Future Fund (which will be familiar to readers of What We Owe To The Future and EA world generally) resign after collapse of FTX.

Learned of this from Teddy Schleifer on the bird place.

#effectivealtruism #philosophy #futurefund #ftx