Abundance of scarcity

That’s where we are now, or one of the places, so sayeth Matt Levine:

Basically it is easy, using blockchain technology, to create scarce claims. You could I suppose use this technology to create scarce claims to scarce resources: You could put, like, housing deeds or shares of corporate ownership or cargo-container manifests on the blockchain. This would — people have argued for years — have benefits in terms of efficiency and legibility and tradability. It would create value by improving the processes by which real-world assets are transferred and allocated. Classic financial-services stuff. Nobody talks that much about this anymore.

Instead, people like to use blockchain technology to create scarce claims to abundant, or infinite, resources. There is absolutely no shortage of JPEGs, they are infinitely reproducible more or less for free, but that means — or meant — that you couldn’t become a millionaire by having good taste in JPEGs. But now people can create a unique non-fungible token representing ownership of a JPEG and use it as a status symbol or a speculative asset. Nobody will pay you for a number in your computer’s memory, but people will pay you for a scarce number in your computer’s memory.

Stop shaking your head – it’ll hurt your neck. Or just wait.

Theoretical normal person: If you could do a thing that wasn’t just bad for but ruinous to your country’s political system – but it was very good for your profits, would you do it?
Our actual media: Do what?

Such is our national media paralyzed on the question of how to cover Biden, how to normalize authoritarian white nationalism and get Trump back. Ratings are down and they’re in a bad way, which means they’ll gladly put us [all] in a worse one to keep the eyeballs rolling in and the clicks coming.

It’s really something.

Expensive solutions: having two drivetrains

While at first, this may appear to be an innocent discussion about plug-in hybrids versus straight electric vehicles, it turns out to be, you guessed it, a terrific metaphor:

Another challenge for automakers is that hybrids are relatively complicated, with widely varying ranges. Some can travel only on electrons, while others never do. Electric vehicles, meanwhile, can be measured on two simple metrics: miles per charge and price.

“It’s just a much more simple story,” said Tal at UC Davis. His team’s research has shown that people are far more ignorant about plug-in hybrids than fully electric vehicles. In general, he said, shoppers don’t spend much time deciding which car to buy—most effort goes into finding the best price for the model they’ve already set their mind on.

The death of the hybrid, while seemingly inevitable, may be a long and slow. A spike in gas prices in the next few years may even draw it out. “I can see them having a role until 2040,” Tal said. “But the problem will always be [that] it’s a more expensive solution having two drivetrains.”

We are absolutely lousy with other expensive-because-they-are-redundant solutions, and some (private schools, for-profit hospitals and health insurance) do triple the damage we can afford for the pain and pound of flesh they exact from the commonwealth. Reality shows seem cheap because [some]people think they don’t have/need writers. Roads and highways seem far more convenient that public transportation somehow, even at 0-miles-per-hour in rush hour that’s really two. Fb is free, see it doesn’t cost anything!

Hatred for irony remains an untapped and unfortunately renewable-into-infinity resource.