Peter Thiel on what the decline of hedge funds means for Main Street
Peter Thiel: Actually, I think the role’s been somewhat less than people have said. It’s, people have been focused and obsessed with the hedge fund industry for a number of years and the reality is that the problem turned out to be the investment banks, which were hedge funds in disguise. It turned out to be the retail banks, the subprime lenders, maybe even the insurance companies. The AIG blowup was something that came very much out of left field, and more generally it turned out to be extremely excessive leverage which most hedge funds actually were not excessively leveraged.
Recorded: October 23, 2008
Peter Thiel on what the decline of hedge funds means for Main Street.
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In his final years, Martin Luther King, Jr. become increasingly focused on the problem of poverty in America.
- Despite being widely known for his leadership role in the American civil rights movement, Martin Luther King, Jr. also played a central role in organizing the Poor People's Campaign of 1968.
- The campaign was one of the first to demand a guaranteed income for all poor families in America.
- Today, the idea of a universal basic income is increasingly popular, and King's arguments in support of the policy still make a good case some 50 years later.
10 of the most sandbagging, red-herring, and effective logical fallacies.
- Many an otherwise-worthwhile argument has been derailed by logical fallacies.
- Sometimes these fallacies are deliberate tricks, and sometimes just bad reasoning.
- Avoiding these traps makes disgreeing so much better.
For Damien Echols, tattoos are part of his existential armor.
- In prison Damien Echols was known by his number SK931, not his name, and had his hair sheared off. Stripped of his identity, the only thing he had left was his skin.
- This is why he began tattooing things that are meaningful to him — to carry a "suit of armor" made up the images of the people and objects that have significance to him, from his friends to talismans.
- Echols believes that all places are imbued with divinity: "If you interact with New York City as if there's an intelligence behind... then it will behave towards you the same way."
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