WSJ: “So it turns out that of the two largest crypto exchanges, one was a fraud and the other was a money launderer. Whoever could have guessed? … Bitcoin has failed to live up to its original promise of being cheap online cash, but crypto keeps on reinventing itself. It’s so technically satisfying that it must be the solution to something, but quite what remains a mystery.”
costs, continued
Once you face the real human costs of your preferred policies in peace or war, you may then
- Warmly embrace them;
- Accept them with a shrug;
- Work to mitigate them;
- Decide that they’re too high and look for alternative policies.
A combination of the sunk costs fallacy and the fear of shame makes the fourth option very rare indeed. Would that it were more common.
mood
“You have to brace yourself for the bozos.” — Werner Herzog
Now this is what I call a magazine cover.
Kinda weird to hear Julian Lage strumming, but this is a sweet tune.
