#misalignedmarkets — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #misalignedmarkets, aggregated by home.social.
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In the middle of a move so I’ve not published anything this month on Misaligned Markets, but 4th episode of my other podcast is out! We’re talking about the AI bubble, discussing analysis from my March post. https://youtu.be/7bl0iLqM0oo
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The SpaceX IPO shows that the rule of markets matter more than what is being exchanged or how "valuable" it is. And some market participants are closer to shaping rules than others.
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The #SpaceX story illustrates why ETFs are just like web browsers and can be exploited in a similar way. Read my newest post where I explore the company's IPO like a CVE.
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My writing at #misalignedmarkets began w/ the idea that mainstream #economics describes a bloodless, abstract world where rules are symmetrically enforced and followed.
I'm now (metaphorically) importing
#cybersecurity into econ to show that markets are interfaces whose inputs and outputs can be tweaked by the powerful.Learn how athletes, crypto bros, and companies "hack" the rules within the systems they're part of in my latest post.
#infoSec #hacking #capitalism -
The way we measure the #economy hasn't changed in nearly a century. This methodology makes it very easy to miss the fact that life has gotten harder for the average American. Wall Street analysts at Citibank anticipated this over 20 years ago in a memo to wealthy clients.
https://misaligned.markets/its-the-plutonomy-stupid/
#blog #economics #capitalism #inequality #GDP #oligarchy #misalignedmarkets
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Chrematistics or accumulation without limit was the most important concept I ever learned about. It's not #greed per se, it's something much worse and it dominates our world. #capitalism #philosophy #misalignedmarkets #poliecon
https://medium.com/@misaligned-markets/greed-is-not-selfishness-0474653eba10
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(1/3) I learned a lot through blogging last year, as writing is a form of reflection. In this blog post I speedrun some of the more interesting topics I discussed. Mainly two ideas that illustrate how capitalism creates “attack surfaces” in market economies.
https://misaligned.markets/one-year-of-misaligned-markets/
#cybersecurity #capitalism #economics #politicaleconomy #philosophy #infosec #misalignedmarkets
A short #thread 🧵:
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(6/6) #Capitalism runs like a computer (and it's being hacked)
Markets under capitalism are an open system whose norms and protocols can be hijacked to create permanent structural advantages. Very similar to #exploits #vulnerabilities in #cybersecurity.
Because #capitalists institutions determine what can be bought and sold in market capitalism they are often targets of hijacking.
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(5/6) The tension at the heart of market #capitalism
Markets under capitalism face four paradoxes managing the balance of power in the system:1. Property rights limit competition.
2. Property rights enforcement invites exploitation.
3. Markets reward secrecy but need transparency to function well.
4. Market success undermines market competition. -
(4/6) The lethal economics of corporate kung fu
Market failure = firm success. To understand #economic reality, we have to understand that companies are competing over ways to avoid economic competition. Even if it comes at consumers' expense. Corporate kung fu are the insane tactics companies pursue that screw over consumers. -
(3/6) AI hype is a mirror of market fundamentalism
#LLMs are the perfect microcosm of capitalism. These systems mask the vast amounts of labor needed to run them, allowing commodity fetishism to form around #AImodels.This mirrors the fetishism #neoliberal #economists display around markets, detached from understanding the influence of #capitalist institutions and #politics on markets.
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(2/6) #LLM “intelligence” is a #darkpattern. I argue that the defining feature of LLMs is that they’re a structured “dark pattern” meant to launder the idea that a mind’s on the other side.
To that end, unlike any good technology, there’s no affordance that promotes any intended use. That doesn't make LLMs useless, but it makes them extremely dangerous from a user safety standpoint. Like a hammer without a handle.
#blog #anniversary #misalignedmarkets #longthread
https://misaligned.markets/llm-intelligence-is-a-dark-pattern/
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(1/6) My blog #MisalignedMarkets turns one! I spent the year blogging about lots of topics: optimization, information asymmetry, risk, #AI but here are my most popular posts
A thread 🧵 -
Jen Easterly uses the phrase #misalignedmarkets to describe the current state of cyber. As a former #cybersecurity writer now running a blog called Misaligned Markets, I couldn't agree more! Companies are rewarded for externalizing costs (in every domain). In cyber, that takes the form of unaudited software with low hanging vulnerabilities not being caught. The result is weak-link systems that function but are fragile.
https://www.foreignaffairs.com/united-states/end-cybersecurity
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I've written a glossary and introductory page for my project #misalignedmarkets which is about how #market #capitalism is failing. Learn more about the ideas behind my writing here: https://misaligned.markets/start-here/
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It normally takes me two weeks to write #blog posts, but I did a one-week sprint to finish my newest one.
I'm writing about #llm / #ai which is different from what I normally write about, but I've become so frustrated with media coverage. Look forward to it next week #writing #tech #darkpattern #misalignedmarkets
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The latest #misalignedmarkets post is about historical developments that are core to understanding what market capitalism is and how it works. https://misaligned.markets/contingencies-of-capitalism/
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How do markets under capitalism see the world? As a bunch of seralized inputs. This capitalist “serialization” process isn't without complications, mainly it's brittle and easily hijacked. Read how the capitalist stack gets hacked.
https://misaligned.markets/capitalism-as-a-stack/
#json #economics #law #infosec #oligarchy #finance #monopoly #capitalism #misalignedmarkets
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Capitalism exists to label and serialize objects in the world to facilitate capital accumulation. Markets exist to distribute goods. There is a tension between the two, and battles have been fought over where to draw boundaries. This has fundamentally made market capitalism a metastable system with multiple attractor states leading towards wealth and power consolidation.
https://misaligned.markets/tension-market-capitalism/
#economics #finance #monopoly #oligarchy #capitalism #misalignedmarkets
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Capitalism exists to label and serialize objects in the world to facilitate capital accumulation. This is a very abstract metaphor, but the clearest way I've been able to begin to understand how those who already have capital use it to poke holes in markets.
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(3/3) Not only do the protocols of capitalism result in rules written and influenced by capital holders, but the rules are so gameable they create easily exploitable vulnerabilities.
The favored position of capital and the breaking of capitalism's rules are fundamental to how capitalist systems evolve. Getting the broader public to recognize that, I think, is the first step towards fighting for a fairer world.
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It wasn't until I started writing about data breaches that I understood market capitalism.
The best profit making opportunities exist when you find gaps between how the rules are supposed to work and how they actually work.
Even better, when you understand the legal system you can financialize pieces of the real economy for your own advantage. Blame this for the housing crash and the rise of private equity.
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Capitalism is turning the world into a hijacked JSON document!?
In my latest post I explore how market captialism, like a computer network, is an open system whose users, resources, protocols, and infrastructure can be "hacked."
https://misaligned.markets/capitalism-as-a-stack/
#capitalism #json #econ #law #cybersecurity #misalignedmarkets