I'll never forget the way the tech industry was sacrificed to counter inflation
Nov 2022: The Fed minutes show they want increased unemployment to stop inflation (1st pic)
June 2023: Bernanke and Blanchard say the labor market will have increasing influence of over inflation, and the Fed should continue slowing the economy (2nd pic)
May 2024: Where we are now, and tech roles are still rare. The few openings that exist still receive thousands of applicants
@jmsdnns If the American tech sector is uniquely vulnerable to making borrowing money more expensive that says a lot about the American tech sector and very little about monetary policy.
@sqrt2 you think that's all they do? history tells a different story over and over and
over. you'll find important recent lessons both in the 2008 crisis and the management of SVB's collapse.
worth digging into, but without that there is no need for me respond further. ✌️
> Non-competitive behavior is another possibility, as the food price index includes distribution margins, and the retail food industry has become more concentrated in recent decades
That is academic 🔥 for saying greedflation was real and came from companies having too much power. Bernanke and Blanchard are two giants of economics, so it is HUGE that they concluded this.
"change the paradigm bro, utopian society bro, benevolent AI ruler bro"
AI is like crypto. lots of excited fanboys, tons of money flowing in, little to show for all the dreaming untethered from real world needs and concerns
@benroyce I should elaborate. the tech bros are essentially trying to give us a tech based communist revolution, where they give us utopia and we give up automomy. the generated information could easily be filled with propaganda and it is unlikely we'd ever know, perhaps writing it off as hallucinations.
and yet, the same people dont care about helping hungry people on the streets of SF
The experiment we just did at Penn to see if AIs can do homeworks for AI students concludes with everyone reassured that AIs completely fail at getting the logic right for anything complex, even with good feedback for improvements
I tried having it generate code for markov decision processes, reinforcement learning, basic language models, and perceptrons, and the AIs did an absolutely terrible job
📜 I look forward to starting my weekend with this interview with @ProfMSinha about her new book, The Rise and Fall of the Second American Republic, about the Reconstruction period after the Civil War
Her book, The Slave's Cause, was phenomenal and I cant wait to finish my current book so I can start this one!
@jmsdnns lol the last time I used meetup dot com was around the last time we saw each other in person 🤣 not sure how many dog's ages that is but it's a few!
I feel troubled by the voice in my head telling me the best way to combat disinformation from hostile nation states is to fill the Internet with AI generated nonsense
We can unite behind a common enemy, AI generated nonsense, instead of arguing about doing our own research
Like building a haystack when you want to hide some needles
@dabeaz I'm glad you liked it! I am still picking my brain up off the floor. I mean... she casually plays like Victor Wooten in the middle of a sentence like it's nothing. She might actually be the best bassist I've ever seen. Ever.