Markets are great information processing mechanisms for allocation, but only if the information fed into them is correct. Capitalist property rules mean that price formation reflects distorted information inputs, like artificial scarcity and artificial abundance. GIGO.
Charlotte@fireantprincess.bsky.social · 12h agolet’s be honest, a big reason why markets are so bad at distributing resources is that these very same people that love the free market also do everything they can to make governments police the markets in favor of the rich.
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Elon Musk
@elonmusk
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13h
Worth noting that any USAID funding that appeared to have the slightest merit whatsoever for helping people in need was moved to the State Department.
Only the funding where they provided no evidence at all for who would receive the money was stopped.
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From youtube.com
https://x.com/elonmusk/status/2084274899065897011](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:j2kmiyhld5btzozgzwy3lc2m/bafkreie6vyvx2hwglti5vsc4l6xjv2kblgqgogvodr3ylsjemcywsskak4)
![While finance split into two political factions, the Silicon Valley elite marched rightward in astonishing unity. For three decades, tech-entrepreneurs and private-financiers could “move fast and break things” without having to fear major, state-imposed repercussions. Having had it all-too easy, these apex predators’ decided that the Biden administration and the Democratic Party’s mounting anti-trust enforcement needed to be stopped. In that sense, their rallying around Trump’s flag is all about restoring the Obama-Trump antitrust status quo ante. Speaking of the anxiety felt by industry leaders, venture capitalist Marc Andreesen described signs of “social revolution” across both campuses and Silicon Valley, as “a rebirth of the New Left” radicalized the workforce.
Very clearly, companies are basically being hijacked to engines of social change, social revolution. The employee base is going feral. There were cases in the Trump [I] era where multiple companies I know felt like they were hours away from full-blown violent riots on their own campuses by their own employees.
Silicon Valley’s liberalism, it turns out, was a temporary phase linked to a now past maximum-liquidity, minimum-regulation period of US capitalism. Then Covid hit, and the government provided substantial transfers to workers, some of whom felt empowered to voice new demands. At the same time, the Biden administration’s most activist branch, Lina Khan’s Federal Trade Commission, directed its antitrust enforcement toward big tech. Add Biden Treasury Secretary Janet Yellen’s tentative international coordination on corporate taxation and the Democratic President’s rhetorical support for union mobilization, and you can see why Andreesen experienced this as “a giant radicalizing moment” and spent enormous amounts of time on group chats promoting billionaire class consciousness.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:hbpefio3f5csc44msmbgioxz/bafkreibzj7kmcox5qgx3facxmzvhzcdbfw6xmntvv3kww2hynin457i2uq)
