By my math, the drop in tourism *alone* will more than offset the total (and in many cases careless) cuts from DOGE. We will wind up with a poorer country that works less well with higher prices and less freedom that fewer people want to visit that makes fewer technological
ECONOMY
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ChatGPT Reaches 1 Billion Weekly Active Users Milestone
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ChatGPT has hit 1 billion weekly active users (WAU). OpenAI is not far from the vaunted 1 billion daily active users (DAU) club.
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US Tariffs Force Small Producers Offshore to Stay Competitive
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For those who don’t see it. This kills small producers that produce in the US for the world. No matter if you import parts, resources or full built products. You have to move now outside the states or you are no longer competitive selling globally
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IRA and Chip Act: US Manufacturing Policy Reassessment
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They basically disadvantaged the US as manufacturer for the world. Front to back the whole thing makes no sense. In hindsight the IRA and chip act stuff seemed way more sensible to relocate manufacturing to the states.
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Smartphone Electronics Exemptions Undermine US Manufacturing Policy
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Of course they’re now exempting smartphones and electronics. They couldn’t even build an LED screen factory in Wisconsin after making a big photo opp out of it in 2017.
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Trade Wars Impact Chinese Manufacturing Global Expansion Irony
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The irony is there’s a high likelihood those products will be produced by Chinese owned factories that expanded all over the world as a result of the last time he started a trade war.
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Customer Problems Become Business Problems
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“Arb” is doing some work here. I’m using it in the impressionistic sense. In every business ever, your customers’/contras’ problems become your problems, both as relates to the business and in the more general way.
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Binance Compliance Officers and Cryptocurrency Regulatory Risk Tolerance
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(Binance of course had Compliance officers but their job was not complying, and they knew it, and they wrote down some really excellent quotes. On-shore crypto players… well, they have a risk tolerance, but it was truly less than that.)
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Crypto lobbying aims for minimal regulatory oversight and maximum freedom
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c.f. https://
wsj.com/finance/regula
tion/binance-world-liberty-financial-crypto-deals-70c817c3
… and the broader lobbying push generally, whose aim is not to get crypto clarity but to craft a regime where it gets to do basically whatever it wants with a minimum of throat clearing and tugs of the cap -
Binance regulatory scrutiny and crypto compliance debate
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Binance was nominated as the sin-eater by the onshore crypto advocates, distinguished from their own “We have Compliance departments and just seek regulatory clarity” ways, and it will be interesting to see whether they go along with “actually, you know, they never did wrong.”