🧵 View Thread
🧵 Thread (9 tweets)
been realising “discovery doesn’t happy on its own” growing up in the modern world makes us think that. but how many musicians were great, and just never found? how many authors? how would you know about them? discovering them and discovering facts about the world is hard
telling people about it *is* the problem https://t.co/NmJBJrtO1W
like this bizarre world of stem and CS arXiv papers and so on makes us think what is at the frontier is available to everyone and no but that information may not exist collated anywhere. it may be scattered, unknown, and unknowable till gathered https://t.co/QWSC7lGsIt
/how do people fucking find out about things?/ /something has to tell the them/ the world is fundamentally unknown efficient market hypothesis is fundamentally untrue and we have created these large narrow domains where it gives us the sense in those domains it is true
the point of a market is to make arbitrage easier it’s so douche bag hustlers don’t have that much of an advantage flipping stocks or covid tests the whole point is to ease discovery and make arbitrage useless bc arbitrage helps no one if it can be avoided
this is why economists get wet about markets it isn’t the “prices” or profit or anything like that; it is the discovery; the almost mystical coming alive of a larger creature assembled of tinier self-interested enterprisers here is hayek:
“knowledge of which is not given to anyone in its totality” https://t.co/qrdF9ORCCO
