What changed most in the Tyler Cowen production function since LLMs became widely available and what will change most over next 5 years assuming continued improvements?
@patio11
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Can Good People Be Incompetent at Work?
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“Can someone be good, competent, and bad at their job?” Many people have a very wide view of what counts as “competent”, and of course many people who do not increase the productivity of teams they are employed on are wonderful dinner companions and broadly of good will.
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Competence-Based Governance: Reallocating Authority from Poor Performers
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And if someone is good, competent, and very bad at predicting prices, their votes get reallocated to someone who is *actually* good at the job, without ever needing to explicitly tell the first person “It a failure of society that you got as far as the chair you sit in.”
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Markets depersonalize disagreements by making them low-stakes price arguments
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One of the hidden functions of markets is to depersonalize arguments over the future by making them low-stakes arguments about current prices. All parties know there will be new current prices tomorrow, so not worth e.g. holding grudges over disagreements on yesterday’s prices. https://
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Financial Institution Compliance Risk: SDN Designation Legal Consequences
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When a financial institution says “In our defense, our ex-client was not a Specially Designated National at the time of his offboarding”, that ex-client is about to have a very bad time.
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LLMs Automate Podcast Transcript Editing First Pass
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I happily paid for transcripts at every podcast I’ve ever done and now with LLMs to do the first pass editing this will be even better.
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American Charitable Institutions: Financial Culture and Trust Infrastructure
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I’ve only seen them in America. One of our funny institutions created by a combination of charitable giving culture, financialization, extremely developed trust infrastructure, and tax codes.
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Megabank Zip Code Targeting Criticized by Tech Experts
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(I have now gotten emails from bank technologists which said that a megabank still doing zip code targeting is Doing It Wrong so, FWIW, take that with a grain of salt with respect to sophisticated institutions.)
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Interest Rates Shape AI Investment Strategies and Valuations
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Negotiable and for obvious reasons changes a lot with the interest rate environment (and other strategic factors).
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Negotiating Business Terms: One-off vs Ongoing Arrangements
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Anything imaginable is negotiable by someone, but you're likely going to find that one-off is easier than on-going at below the levels of wealth where it makes sense to have a whole team involved attempting to keep/grow your business.