Things we are reading today - January 9th, 2023 - Success indicators, economic lessons, stabelcoins, FTX Japan, ChatGPT, Gyms

  1. This was quite a nice piece on how success is clearly a result all the work that goes in. Surely people can get lucky once in a while, but most times any favorable outcomes will need all of us to put in our best work or best efforts to make things happen. Also, it kind of stuck me that all the comparisons of accomplishments and lives others live, should be avoided, as what’s happening now is a result of work that went in sometime in the past.
  1. Very nice read on some of the things people have been talking about in 2022 - interest rates, government borrowing and asset bubbles.

the early 2020s have basically taught us to worry about asset bubbles a bit less than we did in the 2010s, and to worry about excessive government stimulus a bit more. But that doesn’t mean that everything we learned in the 2010s was bunk. Private banking systems really are fragile without the government to stabilize them. Aggregate demand definitely does matter, and the government really can affect it, with both fiscal and monetary policy.

  1. A short note on stablecoins - still risky, but maybe leverage provided through them helps kind of stay afloat when there is a risk of a run. :sweat_smile:
  1. Am not going to say more about ChatGPT, but sure feels like a lot of things will change in 2023, and wont be mindless to predict anything. :slight_smile:

I don’t think I ever said that any labor markets won’t be impacted. They definitely will and it looks like the knowledge-heavy ones will be impacted first. ChatGPT will replace so-called knowledge workers long before robotics replace people who clean, work on oil rigs, etc.

  1. Will people ever get back to gyms or is digital the way to go?


Thank you Boss, these are good read.

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