shuff (@patrickshuff) profile picture

curl -L https://teapaw.org/t.co/ICZzXJ2mYG

Joined March 2009
Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)Photo by shuff (@patrickshuff)
shuff retweeted
Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.
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shuff retweeted
The most dangerous moment is right after you win. You did it. You made the money. You quit your job. You built the physique. You got the girl. Now what? Most people let themselves decline into misery because their driving force has now vanished. You need another mountain to climb. You need to understand that it is a gift, not a curse, to always be in the pursuit of your potential - the constant balance of challenge and skill is what makes life meaningful. There is no final top of the mountain.
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Elon Musk avait dit un truc qui m'avait marqué sur l'allocation de ressources. En substance : passé un certain niveau de richesse, l'argent n'est plus de la consommation, c'est de l'allocation de capital. Cette phrase change tout. L'économie, dans le fond, c'est juste un problème d'allocation. Tu as des ressources finies et des usages infinis. Qui décide où va quoi ? Imagine une cour de récré. 100 enfants, des paquets de cartes Pokémon distribués au hasard. Tu laisses faire. Très vite, un ordre émerge. Les bons joueurs accumulent les cartes rares, les collectionneurs trient, les négociateurs trouvent des deals. Personne n'a planifié. Et pourtant chaque carte finit dans les mains de celui qui en tire le plus de valeur. Le système maximise le bonheur total de la cour. C'est ça, la main invisible. Maintenant fais entrer la maîtresse. Elle trouve ça injuste. Léo a 50 cartes, Tom en a 3. Elle confisque, redistribue, impose l'égalité. Trois effets immédiats. Les bons joueurs arrêtent de jouer, à quoi bon. Les mauvais n'ont plus de raison de progresser, ils auront leur part. Les échanges s'effondrent. La cour est égale, et morte. Elle a maximisé l'égalité, elle a détruit le bonheur. Le problème de la maîtresse, c'est qu'elle ne peut pas avoir l'information que la cour avait collectivement. C'est le problème du calcul économique de Mises, formulé en 1920. L'URSS a essayé de le résoudre pendant 70 ans avec le Gosplan. Résultat : pénuries, queues, effondrement. Pas parce que les Soviétiques étaient bêtes, parce que le problème est mathématiquement insoluble en mode centralisé. Quand Musk a 200 milliards, il ne les consomme pas, il les alloue. SpaceX, Starlink, Neuralink, xAI. Chaque dollar est un pari sur le futur. Et lui a un track record. PayPal, Tesla, SpaceX. Il a démontré qu'il sait identifier des problèmes immenses et y allouer des ressources avec un rendement spectaculaire. L'État aussi a un track record. Hôpitaux qui s'effondrent, éducation qui décline, dette qui explose, services publics qui se dégradent malgré des budgets en hausse constante. Le marché identifie les bons allocateurs, la politique identifie les bons communicants. Le profit n'est pas une finalité, c'est un signal. Il dit : tu as alloué des ressources rares vers un usage que les gens valorisent suffisamment pour payer. Plus le profit est gros, plus la création de valeur est grande. Quand Starlink est rentable, ça veut dire que des millions de gens dans des zones rurales ont enfin internet. Quand un ministère est en déficit, ça veut dire qu'il consomme plus qu'il ne produit. L'un crée, l'autre détruit, et on appelle ça redistribution. Dans nos sociétés il y a deux catégories d'acteurs. Les entrepreneurs et les bureaucrates. L'entrepreneur prend un risque personnel pour identifier un problème, mobiliser des ressources, créer une solution. S'il se trompe il perd. S'il a raison, ses clients gagnent, ses employés gagnent, ses fournisseurs gagnent, l'État collecte des impôts. Il est la cellule de base du progrès humain. Le bureaucrate ne prend aucun risque personnel. Son salaire est garanti. Au mieux il maintient une rente existante. Au pire il la détruit par excès de réglementation, mauvaise allocation forcée, incitations perverses qui découragent ceux qui produisent. Mais dans aucun cas il ne crée. Regarde les 50 dernières années. iPhone, internet civil, SpaceX, Tesla, Google, Amazon, Stripe, mRNA, ChatGPT. Toutes des inventions privées, portées par des entrepreneurs, financées par du capital risque. Pas un seul ministère n'a inventé quoi que ce soit qui ait changé ta vie au quotidien. La France est devenue le laboratoire mondial de la dérive bureaucratique. 57% du PIB en dépenses publiques, record absolu. Une administration tentaculaire, une fiscalité qui pénalise la création de richesse. Résultat : décrochage face aux États-Unis, à l'Allemagne, à la Suisse. Fuite des cerveaux. Désindustrialisation. Dette qui explose. Et le pire c'est que la mauvaise allocation s'auto-renforce. Plus l'État prélève, moins les entrepreneurs créent. Moins ils créent, moins il y a de base fiscale. Plus l'État s'endette et taxe. Boucle de rétroaction négative parfaite. La maîtresse pense qu'elle aide, et chaque année la cour produit moins. Dans nos sociétés, ce sont les entrepreneurs, toujours, qui font avancer la civilisation. Les bureaucrates au mieux maintiennent une rente, au pire la détruisent. Aucune société n'a jamais progressé en taxant ses créateurs pour subventionner ses gestionnaires. La question n'est jamais qui a combien. C'est qui alloue le mieux la prochaine unité de ressource pour maximiser le futur de l'humanité. La réponse depuis 200 ans n'a jamais changé. Ce ne sont pas les fonctionnaires.
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shuff retweeted
Tesla, you need to give us back max speed control.. enough of this experiment - it doesn't work. There is no way that I can travel faster than 15 on this road straight downhill and sloth is trying to go 21 or 22. @teslasi @DirtyTesLa
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shuff retweeted
"You can't have it both ways. You can't scorn the use of 'we're a family' and then also expect that colleagues who can't keep up are spared the cut. It's either or, if you're going to have a high-performing team." world.hey.com/dhh/you-re-not…
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- People who are crushing it don’t feel a need to tell you that they’re crushing it. Insecurity tells, confidence shows.
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shuff retweeted
"The best designers and the best programmers aren’t the ones with the best skills, or the nimblest fingers, or the ones who can rock and roll with photoshop or vim, they are the ones that can determine what just doesn’t matter. That’s where the real gains are made."
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"School, politics, sports, and games train us to compete against others. True rewards - wealth, knowledge, love, fitness, and equanimity - come from ignoring others and improving ourselves." @naval
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10x engineers blah blah blah who cares. The engineers that impress me the most are the ones that fearlessly dive into code, domains they know absolutely nothing about and end up producing amazing work in a short amount of time anyways. Truly awe-inspiring every time I see it.
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Competence is how good you are when there is something to gain. Character is how good you are when there is nothing to gain. People will reward you for competence. But people will only love you for your character.
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A young statistician saved their lives. His insight (and how it can change yours): During World War II, the U.S. wanted to add reinforcement armor to specific areas of its planes. Analysts examined returning bombers and plotted the bullet holes and damage on them (as in the image below). Based on this analysis, they came to the conclusion that adding armor to the tail, body, and wings would improve their odds of survival. But a young statistician named Abraham Wald noted that this would be a tragic mistake. By only plotting data on the planes that returned, they were systematically omitting the data on a critical, informative subset: The planes that were damaged and unable to return. Abraham Wald recognized a key fact: • "Seen" planes had sustained damage that was survivable. • "Unseen" planes had sustained damage that was not survivable. Wald concluded that armor should be added to the *unharmed* regions of the returning planes (the areas without bullet holes on the image below). His profound logic: Where the survivors were unharmed was actually where the planes were most vulnerable. Based on his insight, the military reinforced the engine and other vulnerable parts, significantly improving the safety of the crews during combat and saving thousands of lives. Abraham Wald had identified a cognitive bias called "Survivorship Bias": The error resulting from systematically focusing on survivors (successes) and ignoring casualties (failures) that causes us to miss the true base rates of survival (the actual probability of success) and arrive at flawed conclusions. We see examples of Survivorship Bias all around us: 1. We read books on the common traits of successful people, but fail to consider all of the unsuccessful people who possessed those same traits. 2. We applaud the belief when we hear that an entrepreneur took out a second mortgage and succeeded, but fail to consider all of the entrepreneurs who did the same and went bankrupt. 3. We study the cultural strategies of the most successful companies, but fail to consider all of the companies that followed those same strategies and fell apart. When we fail to consider the range of outcomes and the hidden evidence, we develop a skewed (and often incorrect) view of reality. It cannot be avoided altogether, because the vast majority of books and history are written by and about the survivors and victors, but wherever possible, consider the unseen evidence. Remember: What is unseen often has just as much value as what is seen. *** If you enjoyed this or learned something, follow me @SahilBloom for more in future!
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“Talent wins games, but teamwork and intelligence win championships.” Michael Jordan #QuietTime
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1/ 🔵 We’re excited to announce @BuildOnBase. Base is an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps. Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy.
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experience and competence are not the same thing, and it’s wild how much many industries value the first over the second.
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Like, this is unbelievably better
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Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal. Feels like a turning point for citizen journalism and loss of trust in MSM.
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Replying to @Popehat
Never trust anyone who says you shouldn’t read books
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Replying to @RyanSAdams
Nothing has fundamentally changed. Why would I leave?
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Replying to @tanayj
“My business is straightforward & wildly popular: I sell $1 bills for $0.75 — incredible demand. Sure, I lose 25% on every transaction, but since my revenue multiple is 10x, every $1 I sell for $0.75 cents boosts the valuation of my company by $10.” medium.com/swlh/why-valuatio…
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1. Other than violence, Central Bank Digital Currencies (CBDCs) are the most effective and dangerous policy implementation tool every devised. A 🧵…
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