1/ Hey guys, remember that time Steve Bannon ran an army of game virtual currency miners in Asia, for sale to westerners at discount prices, arbitraging attention for profit?

That was

@ropebelt Yes, though we have been on edge for deep fakes for a good while now, and remain constantly impressed at how well cheap-fakes and simple manipulations work. Deep fakes are the caviar of the trade, when McNuggets work just fine.

THREAD: It’s time to clarify an ethical stance regarding QAnon, and those who research and report on it. It is a disease — a mind virus — with real victims, people who have been lied to and alienated from their families and communities.

2/ First, we must help the victims, and focus on helping them restore their bonds to family and community. Second, we must hold the perpetrators accountable. Third, we must shun all those who profit from its continuance.

THREAD: Now that @Amazon @awscloud has announced they will no longer host @parler_app, many have speculated that they will just “find another host.”

Here is why that’s not so simple and what it will likely mean for the app’s future. First, let’s look at where things are...

2/ Google and Apple have removed the app from their app stores, effectively terminating growth on mobile devices. People can still access the (not good) web UI until Amazon terminates them today. CEO Matze has said they may be down “up to a week” while they find new hosting.

3/ Translated to English, that’s code for “we have no idea what’s going to happen next.” No US cloud provider (Microsoft, Google, IBM, Digital Ocean) is likely to touch this, as it could be seen as providing material support for sedition. No CEO or counsel wants to get near this.

4/ They could potentially “roll their own” data center by buying servers and putting them in a co-location facility. But that’s a single point of failure, and many colo providers would be just as likely to decline their business. It would be hard and risky to pursue this.

5/ Imagine, after they sweated like pigs to get this hardware all setup, if they get told their colo provider is booting them. That’s a lot of metal to then move somewhere else. Meanwhile, the user base is deteriorating because chaos and dying apps. They will go to other venues.

Four years ago this month, there was an uproar among analysts (and the public) about whether Cambridge Analytica was a PSYOP. The word is triggering; it tends to get people animated, makes people think of conspiracy theories, implies a grand master plan, shadowy operators, etc.

I have a good memory of that. What's happening now re: QAnon and whether it was a PSYOP and by whom is comparable. And it's a pointless debate. Any operation that 1) does target audience analysis, 2) deploys messaging against audiences, 3) tries to alter behavior, is a PSYOP.

The origin of this particular operation is complicated, networked, and muddied by people who wish to both claim and disclaim it. But it is functionally a PSYOP, has borrowed from that heritage, and can be analyzed in those terms. Miss me with claims to the contrary.

Researchers, journalists, and historians need to get to the bottom of how it evolved (and it did evolve, vs. a unified top-down plan), and we can do that if we work in good faith together. But we have to accept the fact that these kinds of operations are now commonplace.

It also helps to use the lens of emergence; information ops evolve, and incorporate DNA from everything that has come before: LARPs, ARGs, PSYOPs, the general public's participation + gullibility. In that context, one doesn't need top-down orchestration, necessarily.

Investigating networked disinformation and influence campaigns is hard. SIGINT is often scarce, and encrypted. But people are sloppy; HUMINT is vital, and developing it requires an iterative approach. Each cycle of reporting exposes more players, which attracts more sources.

Introducing “Financial Service Centers.” The future of the new Financial Service Industry.

There is a need that the banking system has provided for all of society that cannot be eliminated within the new Quantum Financial System./1

The financial system is the glue that holds society together as we go about our commerce one with another. It is essential./2

As long as money is used to exchange goods and services, it is a service that must continue in some form, hopefully, better. Positioning ourselves to perform this service is essential./3

As the Zim Benefactors begin their humanitarian activities, a new Financial Service Industry will need to be created out of the demise of the banks. It is a major facet of society that few Zim Benefactors have given any thought to./4

The Financial Services Industry is just as important as putting food on the table and a roof over the heads of humanity if society is to be successful. Again, it is the glue or mortar, that keeps the bricks of society together./5

1/ Peter Bevelin, who has written books like “Seeking Wisdom: From Darwin to Munger,” provided me with a rough transcript of the Charlie Munger talk from yesterday. I did some clean up and editing and focus on points I didn’t make in my tweets yesterday.

2/ “All successful investment involves trying to get into something where it's worth more than you're paying. That's what successful investment is. There are a lot of different ways to find something worth more than you're paying. You can do what Sequoia does [e.g, in VC]."

3/ “Good investing requires a weird combination of patience and aggression and not many people have it. It also requires a big amount of self-awareness about how much you know and how much you don't know. You have to know the edge of your own competency."

4/ "A lot of brilliant people are no good knowing the edge of their own competency. They think they're way smarter than they are. Of course, that's dangerous and causes trouble.” Charlie Munger

5/ “When I was young, there was practically nobody involved in investing and they weren't very smart. Now almost everybody's smart. A good proportion of the people in investing are sucked into finance by the money. That's an important development. I don't welcome it at all."

Our intuitions often leads us astray. A good reminder: study counterintuitive math and economic results.

Here are 9 of them 🧵

The Birthday Paradox

In a room of 23 people, there's a >50% chance that 2 people share the same birthday.

This type of probabilistic thinking does *not* come naturally to many people.

The Coastline Paradox

Fractal geometry is also confounding:

The coastline of a landmass does not have a well-defined measurement. As the unit of measurement gets smaller (eg. from KMs to cm), the length increases without limit.

Winner's Curse

In an auction, the winning bid will usually exceed the intrinsic worth of an item leading to a significant overpay (and negative net profit for the winner).

Braess's Paradox

Removing an extra road can make everyone's commute time faster.

Why? The existence of a "fast" road leads to congestion because everyone uses it. If you remove the shortcut, traffic flows better.

The Cantillon Effect is the most important economic concept you’ve never heard of.

Here's a breakdown of what it is (and why you should care):

1/ Richard Cantillon was an Irish-French economist and philosopher born in the 1680s.

He achieved success as a banker—which he attributed to the formidable connections made through his family and employer.

At a young age, he had learned of the impact of proximity to power...

2/ Around 1730, Cantillon wrote a paper—Essay on the Nature of Commerce in General—which is considered a foundational work in the study of the political economy.

It was widely circulated in manuscript form, though it was not published until 1755, well after his death.

3/ In the paper, Cantillon posited that the early recipients of new money entering an economy will benefit more significantly than those it trickles down to.

In other words, the "flow path" of the new money matters!

4/ In 18th century terms, those closest to the King—the source of money/power—benefitted first when new money entered the economy.

Broadly, Cantillon observed that new money creates distributional effects based on where it enters the system.

The Cantillon Effect was born...