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Joined 2 years ago
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Cake day: June 22nd, 2023

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  • I wanted to check, so I did a quick time-travel hop to the future. Here is an excerpt from the opinion by Justice Alito:

    “While the prosecution may have had irregularities and formalities of the law may not have been followed to the letter, it is the duty of this court not to impede the application of laws except where the effect of the law exerts a substantive injustice. For this solemn reason, it would unduly constrain the executive to prevent prosection because we all already know they’re guilty. I mean, what are we, strict constitutionalists who need text and precedent? Did you think a democrat became president again? On our watch? Didn’t think so. Then see the precedent of deez nuts, so ordered.”



  • Pichai’s comments come as other tech CEOs have also predicted the coming of a new era of chief executive automations. OpenAI CEO Sam Altman previously said AI will someday do his job better than him, adding, “I will be nothing but enthusiastic the day that happens.” Sebastian Siemiatkowski, CEO of buy-now-pay-later firm Klarna, also said in a post on X earlier this year that “AI is capable of doing all our jobs, my own included.”

    Yeah, I’m not surprised the wealthy person who owns the output of the AI tools and company is enthusiastic about his job being “replaced,” since - as the owner and therefore spout of the AI value funnel - he now has to work even less to extract the value of hundreds or thousands of human lives.




  • The issue isn’t about ownership, per se. It’s about acquisition of principle value which you carry with you when you sell the house.

    The example halfway down the post of a $400K loan fixed at 6% is a good example: A 15-year loan would have a $3,375.74 monthly payment but pay off $305,364 principle after 12 years. A 30-year would have a $2,398.20 monthly payment, but have only $134,978 paid off. A 50-year has a $2,063.74 payment only pays off $66,251 principle.

    This is why it’s a particularly bad debt trap. The 15 or 30-year mortgage allows the homeowner to move and have acquired significant principle value, which makes the costs of moving much lower.

    And the monthly payment in substance are costlier when you add “interest” (rent into a black hole) and lower “principle” (long-term loan to the bank which is repaid back at sale). When the house is sold, the principle value returns to the seller via the sale and remaining loan payoff. So when you are paying off, say, $1,000 a month, if $600 is principle and $400 is interest, your true (final, after-the-sale-returns-principle-to-you) payment is $400. If you lower the total to $900 a month, but it breaks down as $400 principle and $500 interest, the true payment is $500.

    So again, debt trap.