moon traveller herald

Andrew Ross Sorkin's take today on Larry Fink's Letter to Blackrock customers makes the point that GenAI as it is being posed means economic disparity. That as the elevator Muzak of 'future abundance for all' dims. https://www.nytimes.com/2026/03/23/business/dealbook/trump-iran-energy-attacks.html It's interesting to see the Mighty Fink echo tech vet Tim O'Reilly's screed describing the AI economy that makes producers richer only by slash, burn and strap of consumers' wallets and hopes. https://www.oreilly.com/radar/ai-and-the-next-economy/ Bard: When Tim O'Reilly talks about AI leaders "stripping out the alignment mechanisms that three centuries of conflict produced," he is describing the exact outcome Coates warns against: Erosion of Public Governance: Over three centuries, society built mechanisms—public reporting, shareholder voting, antitrust enforcement, regulatory transparency, labor standards—to constrain giant concentrations of p...

  Jack Vaughan 3 · StPatsPoems2017

Nobody, wise or unwise, knew or now knows when depressions are due or overdue.–JKG, The Great Crash 1929 I cozied round the fire with two books during the winter. Two books on The Great Depression. One, The Great Crash by John Kenneth Galbraith; the other, 1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation by Andrew Ross Sorkin. The backdrop for anyone reading these books would probably be the same at most any point at time – a nagging feeling that the stock market is exuberantly closing in on a correction, or worse. And that our common days will see soup at least a little thinner. The always-around-the corner feeling of nearing contagion is sharp just now, as 2025 saw a hellbent parade of investment in Generative AI, with promises but not proof of a big return.  There must be some message to be learned in history, right? The radio stocks of the 1920s bear some likeness to AI, hyperscaler and data center equipment stocks of the 2020s. The era saw...