So I think efforts like Hoel’s to find the One Thing That Went Wrong in producing geniuses are doomed to fail. But even if I’m wrong, aristocratic tutoring isn’t that One Thing: there are too many counterexamples.

Mechanization doesn’t require replicating a human’s movement exactly. The greatest gains from mechanization occur when a complex human movement can be replaced with a simple mechanical movement. A ship’s propeller doesn’t move the same way a fish’s tail fin does - it replaces the back and forth movement of the tail with a simple rotation that yield... See more

Companies become highly leveraged when they hire lots of superstar talent. They can reduce the risk this creates by hedging against their business model. Basically, this involves asking, “In a world where our main product fails, what other products or services are likely to be successful?” and then building those themselves.

As job tasks get replaced, the same humans might be able to spend their time doing more productive stuff — they’re still employed, and they get paid more (or get paid the same but have more leisure time). Meanwhile, mass automation will increase society’s income, which will increase labor demand and create whole new categories of jobs that these st... See more

Start at the bottom of the CV. Above the bottom margin of the last page of each resume is typically a line about a candidate’s hobbies, travels or interests. “Look for people who have multi-functional backgrounds, multicultural experience and wide interests."

Why was no one even experimenting with two-wheeled vehicles until the 1800s? And why was no one, as far as we know, even considering the question of human-powered vehicles until the 1400s? Why weren’t there bicycle mechanics in the 1300s, when there were clockmakers, or at least by the 1500s, when we had watches?

Most people’s mental models of energy are flawed: they think there’s a ‘tank’ of energy that gets depleted as you spend it. This may be roughly true for physical energy, but mental energy is different: spending mental energy on things that you consider productive or important gives you more mental energy for other things: a positive feedback loop.

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What the Fed is actually trying to do here—as opposed to the story it’s telling about what’s happening in the economy—is clear, yet extremely difficult: It is trying to destroy demand just enough to reduce excess inflation but not so much that the economy crashes. This a little bit like trying to tranquilize a raging grizzly bear with experimental ... See more

However, this creates less wealth overall as work is no longer given to where it’s done most efficiently. This breaks the primary component of capitalism. The second solution is some sort of socialism, where the government introduces new laws and systems to redirect money to attempt to balance the system manually. This will help, but creates less w... See more