Comments by "Doncarlo" (@doujinflip) on "How Money Works" channel.

  1. It'll be the greatest generational transfer of wealth... to corporations, not to their kids.
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  2. Having a career in cybersecurity and related risk management, it is true that we're never praised for blocking/deterring attempts and always blamed for information incidents.
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  3. Think tanks are like corporate consultants: they may have started out as an independent insight, but have since gotten coopted into inventing justifications for their sponsor’s predetermined decisions and act as a hired scapegoat if those decisions don’t pan out.
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  4. Laissez-faire capitalism aims for the same situation on all of us who were born too late and to the wrong social groups to claim a decent share of ownership.
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  5. Rule by the old was societally normal for most of human history. Thing is since industrialization and especially computerization, that "wisdom" is increasingly obsolete -- we're no longer concerned about how to hunt and farm and know the local environmental patterns like all our ancestors had figured out, nowadays it's the youth teaching the elders how to "operate a remote control" (or an AI assistant) and think ahead on how to adapt it into life going forward. The main advantage of the elderly is they had their whole lives to build up their network of buddies, which is what politics is all about.
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  6. Because apparently Star Trek is too “socialist” 🖖🏼
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  7. Companies train their workers which justifies their non-compete agreements? A lot of the time they’re relying on public institutions (colleges and military), actively poaching from their competitors, and failing to find an “ideal” candidate petition for an H1B applicant whom they can threaten with revoking work status leading to deportation of possibly an entire family.
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  8. That's what China found out the hard way. It didn't matter how many barebone concrete shells sold as "homes" they built, because investment-wise it's the only game in town. So despite having at least twice as many properties as people, upwards of three generations' worth of life savings have to be poured into a single mortgage due to this market setup.
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  9. Problem is we're not paid enough to have a savings cushion to liquidate for sudden shocks like medical bills, legal fees, unplanned babies, etc which only seem to get more expensive to resolve on top of it.
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  10.  @rocketr8968 It mandates that disputes with the employer must go to confidential arbitration instead of public court. Arbitration is meant for “merchants of roughly equal power”, so an imbalanced arbitration in practice means a lot of rulings that favor the business which as a “private” “binding agreement” can also be kept secret through a mandatory non-disclosure clause.
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  11. Outside “consultants” just work to justify what the CEO already wanted, they’re literally paid to be his scapegoats in case the plan doesn’t pan out.
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  12. Which is why natural monopolies like vital utilities ought to be highly regulated if not controlled by democratized government, because its citizens can hold the government accountable through constant pressure to remain not-for-profit and the threat of voting in their opposition into leadership.
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  13. I think Millennials are the last true hacker generation having spent our youth configuring the transition from landlines+typewriters to PCs to WiFi to smartphones, learning troubleshooting and technical tweaking skills along the way. Everyone younger who was born into this environment are mere app consumers and script kiddies by comparison -- they just never had to futz around with the lower half of the OSI stack, figuring out how to escalate from power cycle to percussive maintenance.
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  14. Post-COVID China is a pretty good example of what happens in an economy that biases its attention towards the whales, while regular consumers can't or won't consume.
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  15. I never got the point of ripped jeans, since the patterns they often use just make it look like you're bad at riding a motorbike 🏍
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  16. ​Also the benefits of the social connections -- or at least positive bias -- that comes from studying on the same campus. The more selective and elite, the better.
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  17. One of the newer ways to clock the legacy 40 "work" hours per week is doing 4x10 days, which erases the costs of one regular round-trip commute, while providing a day to do errands and schedule outside appointments when others hold business hours. Whether all 40 hours are necessary at all, it's clear that there's benefits to having that one full weekday off to take care of things that would be expensive/impractical/unavailable during the weekend.
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  18. Becoming broke medically is the main risk of blue collar trades in general as we try to convince more young Americans to do that instead of college. It's a lot more straightforward to refill an emptied savings account than it is to treat a chronic condition, especially with America's healthcare costs.
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  19. It does depend on the definition. Like I’d wager I could get a CDL faster than a truck driver can get to my level of network engineering and cybersecurity… and neither of us would be writing medical prescriptions anytime soon.
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  20. They use such a predictable formula that they should be straightforward to suppress. But no, YouTube would rather cash on their "engagement" while shadowblocking "controversial" comments that criticize subjects like corporate capitalism, Communist China, DJT, etc
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  21. I work in IT and I periodically smack my keyboard too, though upside down to knock out the dust and skin flakes
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  22. More like great things. “Great” not necessarily being positive.
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  23.  @luisfilipe2023  Money itself is not, but how it's distributed is. That's the power.
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  24.  @MJ-uk6lu The Rust Belt won’t come back in the well-paid semi-skilled jobs they had before. Either they need to become more like the bougie cities their kids are moving to, or they need to learn machine programming for the few highly-automated manufacturing jobs that a modern factory demands.
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  25. Right, increased savings don't provide a real benefit unless the supply grows to match that demand when it starts getting redeemed. Kind of like how in China everyone bought into real estate making even 3 generations of savings insufficient, while the number of truly desirable locations to own such properties have remained basically static.
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  26. "Devalues housing" by increasing supply to meet demand. There's often a literal cartel of loosely coordinating NIMBY retirees who have the free time to show up during business hours, and pressure their local councils to suppress the desired densification, all to maintain the "character" of the dying memories of their community and keep inflated the value of their property.
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  27. The best "job experience" comes from social contacts, most rapidly grown by the random unstructured encounters that characterize... well, college.
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  28. Unfortunately it goes directly against the will of the voters... who are invariably older homeowners who specifically benefit from limited housing supply. It's literally a political cartel situation because the constituency is made up of landed incumbents and not potential new taxpaying residents.
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  29. Because the rich don’t build roads and keep planes from crashing. These activities are unprofitable but vital, which means government taxes and spending.
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  30. Money is power, and power is a zero-sum game.
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  31. Right, WFH limits what education is possible when framed and delayed with a screen. It's especially detrimental to junior workers who are still figuring out all the processes and contacts. There's a reason MOOCs flopped, and remote learning is getting reversed wherever practical.
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  32. ​ @authenticallysuperficial9874 That risks becoming like the socially brittle Gulf States, getting the country overrun by foreign men whose pay is so low it discourages productivity innovation.
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  33. I still open up the Control Panel from the Win7 era too. For some reason it loads way faster and it's easier to find things than the newer Settings window.
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  34. It’s already happening, most dramatically in South Korea
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  35. The best investment you can make is choosing your birth to the right parents.
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  36. 3:38 According to the Smiling Curve model, R&D (i.e. creating IP) in the beginning and Sales & Services (including marketing) at the end provide more value-added than the price-sensitive easily-substituted Manufacturing in the middle of the production chain. This is why developed nations manage to stay rich despite offshoring its factories and intensively automating the ones that do come back (i.e. much lower impact on employment numbers), while those who fail to create unique ideas and valuable branding fall into the middle-income trap where they're desperate to keep their youth motivated and employed. At a more micro level, the value-added of selling a brand explains how CEOs manage to demand so much compensation per calories burnt. Especially those CEOs who simply gained control of (as opposed to actually building from the paper idea up) existing companies, such as Elon's buyout of Tesla, SpaceX, and Twitter. Guys (usually) like these are the ultimate influencer every schoolkid nowadays dreams to be.
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  37. Thing is migrant workers are generally more healthy and willing to do the work (otherwise they wouldn't be available to begin with), whereas a lot of homeless folks come with a lot of mental and medical impediments that make them unsuitable for taking on tasks anytime soon.
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  38. Probably an Administration that doesn’t put big business first.
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  39. Right, you may not be broke that first decade or two, but you'll end up broke both ways by the end. Financial Independence Retire Early but medically unable to enjoy it 🔥 💸
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  40. And parents and grandparents wonder why we’re so rebellious and deviant from their preferences. Because especially now in an age of accelerating technological augmentation and replacement, aged wisdom isn’t.
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  41. I doubt so many are doing tasks they can effectively advertise and get handed physical cash for. I'd bet the norm is more like Doordash drivers, drop shippers, OF streamers, Fiverrs, and other jobs where formal registration and digital transactions are unavoidable.
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  42. Poorer earners are low hanging fruit, easy but don’t offer much revenue to be worth pursuing. Meanwhile elite executives and their beneficiaries can afford the small army of accountants to shield even greater amounts of what would be taxable if they were not so wealthy. So really squeezed in the middle are the aspirational middle class who would own a business (thus be a target for audits of claimed deductions), but not one large enough to staff their own dedicated legal department.
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  43. Food industry chemicals definitely drive obesity. I can literally feel my health degrade coming from say California to the East Coast where they’re not so snobbish about organic foods. So far the most nourishing meals I’ve had were in the EU, and the worst were in Mainland China.
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  44. The only relevant experience the elderly have nowadays is in personal networking, especially since their youth wasn't so distracted by using telecommunication apps in between economic compulsions to uproot the whole household to move to the next job opportunity under globalized competition. But it's this face-time that's exactly what's demanded in business negotiations and backroom politics.
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  45. Made worse by how modern societies are still strongly gerentocratic, when digitized knowledge and the internet allows access to the "wisdom" that used to only come with age and experience.
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  46. More like mass migration out of entry-level jobs as remote work opens up opportunities for lower-paid workers overseas without the hassle of visas and assimilating them. Then ultimately automation takes over.
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  47. What made America so globally desirable is being the best promise for society-wide cooperation, without the limitations of being of the same ethnicity, religion, or pedigree.
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  48. If we want corporations to be responsible to stakeholders, the law has to mandate such, defining and prioritizing said stakeholders. From what I understand, that should be the customers first, then overall public interest, then employees starting from entry-level and ending with executives, then passive shareholders last.
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  49. A government is a monopoly, but a democratic government has to constantly answer to and benefit its shareholders: i.e. its citizens.
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  50. Singapore too. Something like 3/4ths of people there opt to live in government-built housing.
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