Steve Randy Waldman
@interfluidity.com

after seeing a lot of videos, i’ve come to the conclusion that blonde chick from Battlestar Galactica was perhaps the most prescient take on AI.

Steve Randy Waldman
@interfluidity.com

for people who live there and love it, NYC in fact has a lot of market power. no matter how rich you are, there really isn’t anywhere else like it, particularly if you are an English speaker and your politics are antagonistic to European social democracy.

Steve Randy Waldman
@interfluidity.com

the resulting baby boom saves humanity from extinction!

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Steve Randy Waldman
@interfluidity.com

it’s the only way to get away.

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Steve Randy Waldman
@interfluidity.com

a democracy progresses less by factions winning fights than by forging agreements encompassing mixes of consensus and reciprocal compromise. i know that’s hard to imagine now that we’ve bifurcated into mirror image caricatures of ourselves.

Steve Randy Waldman
@interfluidity.com

maybe the reason for that spat with Trump is he was off his meds at the time.

Steve Randy Waldman
@interfluidity.com

suppose you cut medicaid, but create a “stabilization fund” to hold hospitals harmless, prevent rural hospitals from shuttering. all you’ve done is created income for hospitals without requiring—or even allowing—them to actually do the work of helping those who would have been medicaid recipients.

Steve Randy Waldman
@interfluidity.com

there is so much to be done that has to be done by people, and so many people doing little or doing a lot of little real value. 1/

Steve Randy Waldman
@interfluidity.com

large language models have not changed this basic situation. 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

we miss this because our current economy, lethargic with incrementalism, has a lot of people doing automatable work less valuable than less automatable work they might be doing. /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

X should brand its stablecoin, all of its financial products, “Starship”.

Steve Randy Waldman
@interfluidity.com

sometimes policy mostly has intended consequences.

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Steve Randy Waldman
@interfluidity.com

now it’s based to be cringe and cringe to be based.

Steve Randy Waldman
@interfluidity.com

i think there’s no such thing as thinking.

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Steve Randy Waldman
@interfluidity.com

it will be a real escalation of the troll wars when Iran issues an evacuation warning for NYC.

Steve Randy Waldman
@interfluidity.com

Right. And despite the cruelty of Nauru and a general immigrant-phobic vibe, they also take a lot of immigrants as a percentage of population, i think? Do we need to give MAGA intuitions about immigration and housing more credit than we want to? 1/

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Steve Randy Waldman
@interfluidity.com

Why haven’t these big, land-rich countries been able to stabilize housing prices holding constant safety and amenity levels? I want to say the MAGA view is dumb, because there’s no inherent scarcity, no bottleneck immigration must clog, and yet actual recent experience seems not great? /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

do Canada’s nosebleed average price statistics mask a bifurcation, then, certain favored locations growing super pricey while much of the rest remains restrained? do the price statistics then overstate the problem, or do the pricey places reflect scarcity of desirability for safety, schools, etc.?

in reply to this
Steve Randy Waldman
@interfluidity.com

what should be done? YIMBY complaints, but you just showed us apparently a lot of success by YIMBY criteria. would restarting social housing be your prescription? where and in what sort of form?

in reply to self
Steve Randy Waldman
@interfluidity.com

people like to own homes too. price growth is itself a problem, even if oddly (for a finance guy) it gets reflected in multiples of rent rather than growing with rents.

in reply to this
Steve Randy Waldman
@interfluidity.com

a bit disheartening if the lesson is immigration puts a rocket under housing prices and even unusually high supply growth can’t put a dent in the effect. do you think that’s right? or could/should Canada be doing something different to accommodate immigration without sending housing to the moon?

in reply to this
Steve Randy Waldman
@interfluidity.com

i tend to be skeptical that YIMBY policy can make much of a dent in near-term affordability issues — over years more elastic supply might restrain growth relative to not, but near-term demand conditions dominate. 1/

in reply to this
Steve Randy Waldman
@interfluidity.com

still, i find myself surprised the apparently much higher supply growth coincides with the shocking rate of price growth Canada seems to have experienced. /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

roughly what we spend on the military, with likely lots of room to grow.

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Steve Randy Waldman
@interfluidity.com

I'm impressed!

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