Fascinating. Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits.

i think Spengler has become a kind of anti-consensus-consesus shibboleth for “i think in civilizations and I see systems.”, also ofc coded to be edgy. the appeal is really obvious, as you get a portable paint by numbers morphology of rise and decline, which can then be applied to almost any political event. Someone reads Spengler and six weeks later everything is evidence that the West has entered its terminal phase. Look at how smart and insightful I am! I will name drop Spengler in my geopolitical podcast or Tweet. look at how hetorodox I am 😍😍 Hodgson and Braudel are far more salient. They make you account for geography, commerce, institutions, intellectual traditions, exchange between different worlds, and the fact that these things move at very different speeds.

watch this pattern. -> attach to a hot frontier market w no background in it academically or prior intellectual interest -> create a public-facing identity around it -> borrow some of the category’s cultural capital (proximity farming) -> proximity farm to signal insider status (clout farming) -> then use that to enter the next set of rooms (social climbing) we're all human beings and utility-maximizers, and from time to time, execute similar strategies. however, there is a spiritual phenotype (e.g. someone who puts Forbes U30 in their profile or secretly desires to get that kind of signal) that purely operates on this as a Modus Operandi. If you're clever enough, you're probably never going to caught, but, usually, I haven't seen a lot of people wealthmaxx and powermaxx by engaging in lanyard-maxxing and network-maxxing In fact, I believe that has a tendency to move you out the kind of limbus that may let you craft a world or regional or world-historical moment (which is what generational founders should aim for in any ). The warning about this type of archetype can be distilled from initial pattern at the start of the tweet. Easy to spot tho

if you’re trying to break into perps, pms etc. give me @yungtesh @0xnirel or @GRITCULT a DM. no need to pitch. categories are hard to break into and we want to give ppl a shot. we will have press, reg people, snr exchange people, MMs + partner / gp level VCs from marquee funds. you can talk about a role or your idea in a low cortisol state. fyi didnt want to make this somekind of insider fest. key thing is being anti-Lanyard culture (we find it offputting and performative. ) and being off record (no pictures so people cannot clout farm using you, many such cases). hit us up and we will sort you out now or next time.

Many initiation traditions require the initiate to lose his former rank, possessions, or community before receiving a new status. Christianity, the Eleusinian mysteries, shamanic initiation stories and alchemy all contain variants of the same morphology. They capture something very salient about human transformation. Identities are path-dependent structures, and sometimes the only way to move very far from one equilibrium is for the existing structure to become temporarily nonviable.

this filled up quick and we’re nearing capacity if you’re not a member of the group chat. fret not, we will be doing more of these, including SF. Frontier Markets. We go where no Orderbook has gone before.

hosting the first Frontier Markets event in NYC on the 16th of October together (thank you to cohosts @yungtesh and @0xnirel for the spot in Tribeca). bringing together founders, market makers, senior exchange operators, plus people from some of the best VC funds out there. casual light fun so a bunch of esoteric finance nerds can hang out on a Friday night. if you're working in event risk, perps, especially if it's on the institutional or wholesale, DM us for invites. will send Luma.

Peter Thiel on what America could learn from Argentina's @JMilei: “We worry that their past is our future.” "In 1900, 'Rich as an Argentine' was still a common expression. That's sort of gone out of usage." “The problem for all of us is—is there any way we can learn from the history of Argentina so it won't take us 100 years of decline to get there?” Via Mathias Döpfner

very correct e.g. the GDPR was a conspiracy to create a massive regulatory rent-capture mechanism by law firms, European Commission insiders, along with the standard set of lobbying firms operating in Brussels and Strasbourg. "strategic sovereignty" and "being the normative superpower" is just another way to maintain the status quo for a mandarin class that could functionally be replaced by ChatGPT 3 in terms of the intellectual requirements of their work.

most of the time, the conversation in Europe isn’t *actually* about safety or data protection that’s what they want you to believe. it polls well & gets clicks its *actually* about money. you think the local IT provider cares if the govt system is shit? nah bro. they want to get paid they don’t want tax dollars (their slice of the pie) flowing to American companies. NGOs & “experts” are hired guns. social media bots drive engagement and make it feel really real. hide yo kids, hide yo wife tactics in the end, the biggest losers are the tax payers. nothing gets better. key institutions continue to fail citizens good luck out there

interesting perspective but there’s nothing high-agency about choosing hard mode for its own sake you move to nyc/london cuz you understand your environment is leverage you don’t prove agency by refusing leverage