https://t.co/p1usloRmsD
1/Today's Substack post is about Biden's chances of becoming a truly transformational president -- someone who will move U.S. economic policy onto a leftward track, as Reagan once moved it onto a rightward
https://t.co/p1usloRmsD
I did not imagine that Biden could be a transformational president.
BUT, it's looking like he just might be one!
https://t.co/UkqOTmu49E
1. Executive actions and appointments that weakened unions and regulation, etc.
2. An enduring ideological shift, which led eventually to Clinton's welfare reform and deregulations.

Maybe this is the first glimmer:
https://t.co/eOQEeeroo4
Maybe it's not Biden. Maybe it's COVID making America finally realize that Reaganism is inadequate to the challenges we face.

(end)
https://t.co/k5xqLQ88Xq
https://t.co/FGppA1M8W6
More from Noah Smith 🐇
Secretary of State Mike Pompeo said the U.S. is quickly approaching \u201ca moment of crisis\u201d because of the \u201crecord number of migrants\u201d spilling into the country https://t.co/QuiWPcXswA
— POLITICO (@politico) October 20, 2018
Facts.

Facts!!

FACTS FACTS
Moar
More from Biden

Over the last 20+ years, Bernie has endorsed every establishment Democrat running for President: Bill Clinton, Gore, Kerry, Obama, Hillary, and most recently, Biden. These candidates and what they represent largely contradict much of what Bernie says he stands for.

Chris Hedges theorized in 2015: "...All that energy and all of that money goes back into the Democratic party. [Bernie] functions as a sheepdog to corral progressives, left-leaning progressives, back into the embrace of the Democratic
Bernie's foreign policy positions are also telling. While he *did* vote against the US invasion of Iraq, he still voted to fund it once underway, & also backed the US bombing of Kosovo, US sanctions against Iran & Libya, & the Iraqi Liberation Act of
Bernie called closing the torturous gulag at Guantanamo a "complicated issue" and supported a proposal in 2009 to "prohibit funding to transfer, release, or incarcerate detainees detained at Guantanamo Bay, Cuba, to or within the United States."
https://t.co/4p64SgeD1x

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Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.