lifekaizen

awesome video! thanks for sharing that

I read the recent National Academies paper[1], and basically they say solar engineering is credible, high altitude sulfur is the only one of three ways that is known to be effective, and they want $100M over 5 yrs to study it. Basically, Luke is going to do that in 1 yr with $1M; they make a number of assumptions that I think do not help them (only considering airplane dispersal, for example). And their work on community building and further research would be helpful, but we just don't have 5 years to wait to begin to start on the problem.

[1] https://nap.nationalacademies.org/read/25762/chapter/8

The little park in the middle is South Park, it’s well known locally and has a bunch of tech/VC offices nearby

Here's a specific example about the value crypto can create. 20x higher savings rate on a US dollar deposit.

My CapitalOne savings account pays 0.4%; you can open an account with ZeFi today and get 7% - 20 times more - with the same ACH in/out you're used to.[0] If you go full crypto and stay on-chain, you can find the USDC coin - a 1:1 stable coin - paying interest above 12% at many DEXes[1]. The USDC coin is like a mutual fund, it has extremely liquid high quality holdings, is audited, and is exchangeable 1:1 for actual US Dollars at any time [2].

Even better, some of these options let you keep control of your assets (non-custodial).

Because of this, it's inherently obvious to me that the US banks will be completely disrupted by crypto; in a good way for us consumers.

[0] 7% return with ACH https://www.zefi.io/invite/abzqg (Note, this is a referral link) [1] 12% return on USDC https://solend.fi/dashboard [2] about USDC https://www.circle.com/en/usdc

Unfortunately we are seeing a lot of hype and dubious projects, we're in an asset bubble with intense FOMO. I try to ignore that and think about the promise of crypto.

As compared to equities. Remember, equities took decades before the academic frameworks were established. _Gentlemen own bonds_ was the wisdom, all the Wall Street traders were the Brooklyn street kids, not he Ivy bankers. Present value sums up all future cash flows and gives it a price today - this is very misunderstood, you find reporters saying 'and they're not even making any money!' but we're valuing the total funds made in the total lifetime, discounted to today (I sometimes think if they'd called it financial relativity or finance-time it would have been cooler). I find it useful to try to think about where the comparison object was at this point in its development.

Early stage investments are not available to most. You must be an accredited investor - i.e. already have a certain amount of wealth, you must be connected - this favors certain schools or ethnographic groups. With tokens, you now have access. You can actually participate early along with everyone else. You can join the Discord, participate, and see it through all its stages. This is tremendously powerful, scary, and transformational.

Cryptocurrencies have the dollar figure, but the real value I'm seeing is in the organization and management structures. You are seeing transparency and participation that just isn't how business is usually done, or maybe ever was. If you join the KLIMA Discord, pop into their #policy channel, they are literally having open C-level board strategy discussions you can participate in.[0]

Tokens now are being used for governance and ownership. This is the DAO concept again, which functions something like stockholders getting a vote on certain things, but in crypto it is being pushed further to have 'only' that group run everything. The other strange thing is, to get these tokens, often you have to be a member or customer. There is employee ownership, and customer ownership. Which is unusual and valuable.

[0] https://docs.klimadao.finance/klima.fi-manifesto

I'm on the pro-crypto side, but the US dollar has more than consumer confidence, it has the largest armed forces the world has ever seen. So a better comparison is something like gold, I think, that has value because we say it has value (it's shiny! and rare...)... which is fine, just different.

The net value to society is likely negative since the impact on the target is large, and a society that allowed such things may see time horizons constrict.

You raise some good points, though. I personally am probably coming with an unspoken understanding that 'given that something fits into a legal and moral structure, and we accept a certain definition of using something by choice as value' then paying more for that thing implies more value. Facebook is probably a good example of something in the grey area, connecting people has value, but generating demand is questionable, spreading misinformation is likely a large net negative.

He's a shrewd 'stock picker' and ran a fund with $21 M from Peter Thiel, among other things: https://www.newyorker.com/magazine/2016/10/10/sam-altmans-ma...

Seems to assume carbon emissions from electricity will stay constant, yet that is likely to fall which reduces the impact in one dimension (cost remains).[0][1]

[0]Diminishing Returns https://spectrum.ieee.org/deep-learning-computational-cost

[1] renewables and non-renewables in $.05~.15/kWh range https://www.forbes.com/sites/dominicdudley/2019/05/29/renewa...

I’m glad you went direct. As a small retail investor it allows me to have access, and buying from employees and giving them some liquidity feels good like what a market should do.

They also use restricted supply to keep the price high. Everyone’s locked up, no supply, it’s no wonder the price often jumps.

Curious what you would say about pricing startup raises? There’s a line of logic which says don’t price too high, you never want a down round and that keeps the risk low.

Wondering what a modern, digital version would be? Imagine a repo could work for the time-stamping and not deleting mistakes (immutable record). Images, annotations (i.e. 'Circle rogue points') seem much harder.

That's awesome, love HN has relevant people around.

Could you shed some light on what the 'script' is in 'The lab book is NOT a copy of the experimental script'? Seems to reference homework like tasks 'Task 1: 100 ± 1 kΩ' but in a more undefined experimental context what would that be...?

Very cool! Quick browser note: get blank screen with Brave on iOS iPad (with shields up; does work with shields down), no problem on iPhone.

Some seem to be for redundancy, some bring power to municipalities (i.e. island cities) with limited power production capacity. There’s a list here https://en.m.wikipedia.org/wiki/Submarine_power_cable

Love this question. I could imagine him suggesting reading academic papers for cutting edge things; like his 'barbell' excercise strategy of mostly walking with occasional HIITs.

That is sad, thanks for finding

That article was brilliant, thanks! Probably deserves it's own post

Good question. The metaphor though would be something like: ... and your soul cost you $1 M to obtain in the first place.

There's something special about seeing the future and investing on a team with a dream. It's not the cash flow analysis of growth equity they teach you in school.

This is one unsourced data point, but Axios says "bootstrapped startups typically grow slower and cap out lower than do VC-backed startups" https://www.axios.com/mailchimp-potential-sale-intuit-talks-...

Totally agree. To that point, I was trying to do this on my own and it's nearly impossible. As a corollary, Pioneer Fund has something like 26 founders & staff + various software tools to review each batch.

And then, yes, if you think of $10k from the other side, as CEO I don't want 100 people in my cap table that I need to signatures from for every corporate action.

Yeah the standard returns data would be annualized, for example "average return ... in this study is 2.6 times ... in 3.5 years — approximately 27 percent [IRR]" http://www.angelcapitalassociation.org/data/Documents/Resour...

Just beware your taxes will require extra work as each deal issues a 10-K and TurboTax has no auto-import

Excellent link!

Point to point goes where you want, when you want. Buses can be better for taking more people at once, cheap to the riders (if subsidized), but here in SF the service is so erratic it is difficult to use for anything on a schedule, and then with Covid-19 people want more space than mass transit provides