2018 was almost the year we won the #RightToRepair.

Instead, 2018 turned out to be the year we lost #R2R: 20 bills defeated in 20 state houses, and it was mostly @apple's fault.

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Accountancy is more likely to be mocked than celebrated (or condemned), but accountants, far more than poets, are the unacknowledged legislators of the world.

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Though "bean counters" are employed by firms, they are notionally bound by a professional code of ethics every bit as serious as the Hippocratic Oath: "count things honestly." Without an accurate accounting of quantities, you can't make good decisions on quality.

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Though accountancy concerns itself with counting things, it is inextricably bound up with the realm of ideas, and accounting conventions (how you account for things) are philosophical matters, not empirical ones.

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It's no coincidence that #ModernMonetaryTheory owes more to accountancy than it does to economics. Economic accounts of the economy have an unfortunate tendency to proceed from first principles, creating models based on pure reason, without checking in on the actual world.

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For example, neoclassical econ's "homo economicus," the rational value-maximizing actor who populated so many models; or economists' insistence on targeting inflation with interest rates; or treating national "debts" like they were household debts.

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It's been twenty years, to the day, since I published my first blog-post.

I'm a blogger.

Blogging - publicly breaking down the things that seem significant, then synthesizing them in longer pieces - is the defining activity of my days.

https://t.co/lksXhU6HKM

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Over the years, I've been lauded, threatened, sued (more than once). I've met many people who read my work and have made connections with many more whose work I wrote about. Combing through my old posts every morning is a journey through my intellectual development.

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It's been almost exactly a year I left Boing Boing, after 19 years. It wasn't planned, and it wasn't fun, but it was definitely time. I still own a chunk of the business and wish them well. But after 19 years, it was time for a change.

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A few weeks after I quit Boing Boing, I started a solo project. It's called Pluralistic: it's a blog that is published simultaneously on Twitter, Mastodon, Tumblr, a newsletter and the web. It's got no tracking or ads. Here's the very first

I don't often do "process posts" but this merits it. Here's how I built Pluralistic and here's how it works today, after nearly a year.

I get up at 5AM and make coffee. Then I sit down on the sofa and open a huge tab-group, and scroll through my RSS feeds using @newsblur.

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One of the most Monkey's Paw things about my life is my relationship to books. When I was a teenager, I read all the way through the school and public libraries, spent everything I had on books, and still couldn't get enough and dreamt of more.

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Today, as a reviewer, I have more books than I can possibly read, huge, teetering mountains of books that I'm desperate to read, far beyond my ability to ever get through them. Periodically, I declare "book bankruptcy," sweep away the backlog and start over.

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Even then, my eyes are bigger than my stomach: I keep back a few books that I can't bear to part with and promise myself I'll read them someday. Usually I don't, but I just did, and boy did I ever make the right call with @TheUniverse's BROAD

I have read a LOT of histories of computing, and I had a front row seat for a lot of the events depicted in this book - people I worked with, people I worked against - and yet I was surprised over and over again with details and perspectives I'd never encountered.

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For example, for some reason, my ninth grade computer science course included lengthy readings on ENIAC, Univac, the Mark I and the Mark II, but none of those mentioned that they were all programmed exclusively or primarily by women.

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When it's railroading time, you get railroads.

When the railroads turn into the personal satrapies of rail-barons, you get trustbusters.

A couple decades ago, it was online service time. We had the users, the telcoms systems, the computers, the modems, so we got platforms.

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We had that, but we lacked something important: effective antimonopoly enforcement. Lax merger laws allowed companies with access to capital markets to buy out or neutralize all their competitors, so we got monopolies.

Right on schedule, we're getting digital trustbusters.

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Now, some people aren't technically sophisticated, but they do understand a lot about competition law. That's how you get meat-and-taters antitrust proposals like @amyklobuchar's #CALERA, which address the structural problems with antitrust

Klobuchar's bill is hugely important. The reason we have monopolies is that we stopped enforcing anti-monopoly law 40 years ago. Monopoly isn't a tech problem, it's everywhere from sneakers to glass bottles to pro wrestling to candy to

Klobuchar's CALERA doesn't just seek to apply antitrust law to tech - it also explicitly restores the pre-Reagan basis for fighting monopolies: we fight monopolies because they concentrate power and corrupt our politics. All monopolies are guilty unless proven otherwise.

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DEATH BY GREED

How patriotic am I? In my perfect world Steve Jobs would have died in prison and every politician, CEO & board member who helped offshore American jobs to enrich themselves would be put on trial for treason. Hear me. Capitalism is the greatest enemy of patriotism.

America created generations of oligarchs thru free & cheap labor, tax loopholes & our politicians today still allow it. In fact, they're in on it. Under the banner of globalization, we allow American companies 2 exploit both natural resources & human resources of other nations.

General Electric made billions during the Obama years & didn't pay one dime in taxes b/c the Obama administration & Democrats refused to close the tax loopholes that allowed big companies like GE & people like Donald Trump to escape paying their fair share like other Americans.

Shit, America created Donald Trump & a litany of other ridiculously wealthy mostly white oligarchs who don't give a fuck about anybody at the bottom of society. Senator Elizabeth Warren was right as hell when she said, "it's all rigged." Hell, she was apart of the rigging with-

There’s rumour about confidential negotiations btn the Biden admin and the German gov. Their goal: to find a way out of the mess in which the whole transatlantic community finds itself because of Merkel’s support for Putin’s pipeline—Nord Stream 2

2/ The preferred solution for the Biden team would be to deny Putin the ability to exercise energy blackmail against Central Europe and Ukraine, while at the same time foregoing sanctions against Germany.

3/ Early in his career, Biden’s Secretary of State Anthony @SecBlinken had analyzed the decision of the Reagan administration not to levy sanctions against West Europeans for building the Siberian pipeline with the Soviets.

4/ See for example:

5/ Reagan decided to take a step back, calculating that the unity of the West was more important than the gas pipeline. Not even Lady Thatcher supported Reagan’s policy.

#PolicybazaarIPO Long thread: There is monetary printing by RBI, there is lending by banks & finally there is the Indian IPO. “Foreign owned” company with ~1 Bn investment is selling “Indian” unicorn to “savvy” Indians for $ 6.2 Bn. Want to know how this printing works? Let’s go-

The basics: Rs 6017 Cr being raised by new shares (Rs 3750) & re-selling (Rs 2267). Face value Rs 2 offered at Rs ~1000 per share is one of a kind. Who decides the price? Examine the valuation ladder below.
With ~$ 150 Mn invested till 2017, we see $ 525 Mn rushes in after 2018

So, a company valued $1 Bn in 2018 & $ 1.5 Bn in 2019 by key investors like Tencent, suddenly “needs money” in March 2021. Falcon Edge “invests” all of $ 75 Mn in March at valuation of $ 2.65 Bn.
Enter IPO bankers a couple of months later & they value the company at $ 6.2 Bn

Why does PolicyBazaar need $ 75 Mn just 6 months before IPO & give away 2.5 times in returns? And it doesn’t even use that money as the B/S reflects appx Rs 1000 Cr in cash lying around.
What kind of a favor is that? Why do they need US investment bank for this just before IPO?

Notice 50% rise in shareholding of promotors here & a 1: 500 bonus share issue. After all, how do you print money & still keep share price at “reasonable” Rs 1000?
Without bonus issue in June 2021, each share would have costed Rs 50,000. Heard of circular valuation?