Starting to pack a SubStack-exit parachute; are the Magnificent Seven productivity, monopoly, or bubble?; Karl Smith on Team Rate Cuts Now!; “Economist” writers need to read their own magazine much...
Uh ... four of the namesake Magnificent Seven were killed. And the summing-up line of the movie was "The Old Man was right. Only the farmers won. We lost. We'll always lose." Just saying.
Most of the value of the Magnificent Seven is down to monopoly. Massive Tobin's Q implies most of the market value is "intangibles = IP + network lock-in = monopoly"
Dube: TT's insight (not as well articulated in early 2021 as late 2023 :)) was that we do not inhabit a one-good one labor input economy. Consequently, it is possible, although not guaranteed, to reduce aggregate demand via tamping down the trajectory of high-inflation goods without raising real prices of goods or inputs that are downwardly sticky by so much that markets for them do not clear (=recession).
The people who are going to cut off their noses to spite their faces and leave Substack during this tempest in a thimble are, to use the proper technical term, Fucking Morons.
So far, most of those screeching the loudest are the same kind of halfwitted lefty uncreative typist hacks I ran across in the Looney Left 50 years ago. Which is why I left the Looney Left, and also why none of those talentless morons will ever come withing ten parsecs of achieving "The Revolution." Here in Hollywood, where they're very prevalent, they're known as the "Bourgeois Bolsheviks."
Most of the writers here are professionals. They know how fucked up the Writing Bid'nezz is, whether dealing with the halfwitted asswipes in NYC publishing and the ones who won't pay anything because "look at all the exposure you're getting," or in my case the fuckwits in Okeefenokee West we call "the suits." And those writers who are successful are successful in spite of all the crapola. The Substack Gnus like Hamish are just another variety of Silly Con Valley idiot.
As Ken White also notes in his excellent essay, Substack gives us each a "nice walled garden." In my experience, the garden's walls are high enough I've never had to make a noise complaint about the neighbors, nor they I. In fact, over the four years I have been here, I never heard of any of the names of the "Substack Nazis". By keeping comments at That's Another Fine Mess limited to paid subscribers, I have not had the problem of Substack Trolls showing up (they're all cheap bastids who don't want to pay for the ability to spew their shit). On the few times I have put up something for all readers to comment on, I had two trolls show up - it took me less than 5 seconds in both cases to reduce them to their component electrons with a smile on my face.
If the Concern Trolls who are always out there to herd you into doing what they think is the Right Thing want to show their moral purity by leaving, Substack will be better for their departure.
In the meantime, I'll go back to my nice walled garden, where my readers are people I have come to think of as friends.
Uh ... four of the namesake Magnificent Seven were killed. And the summing-up line of the movie was "The Old Man was right. Only the farmers won. We lost. We'll always lose." Just saying.
What happens to the annual subscription if you pull the ripcord and decamp SubStack?
Carry it over to whatever the new platform is....
Most of the value of the Magnificent Seven is down to monopoly. Massive Tobin's Q implies most of the market value is "intangibles = IP + network lock-in = monopoly"
Wasn't this Warren Buffett's reason for owning local newspapers before the rise of the internet?
Dube: TT's insight (not as well articulated in early 2021 as late 2023 :)) was that we do not inhabit a one-good one labor input economy. Consequently, it is possible, although not guaranteed, to reduce aggregate demand via tamping down the trajectory of high-inflation goods without raising real prices of goods or inputs that are downwardly sticky by so much that markets for them do not clear (=recession).
Glad to see you're thinking about your publishing options now rather than later.
I'm looking at Buttondown. It would be nice if we could establish some kind of community, as currently exists in the Nazi-free parts of Substack
https://newsletter.mollywhite.net/p/issue-47-residual-garbage
(No details yet.)
The people who are going to cut off their noses to spite their faces and leave Substack during this tempest in a thimble are, to use the proper technical term, Fucking Morons.
So far, most of those screeching the loudest are the same kind of halfwitted lefty uncreative typist hacks I ran across in the Looney Left 50 years ago. Which is why I left the Looney Left, and also why none of those talentless morons will ever come withing ten parsecs of achieving "The Revolution." Here in Hollywood, where they're very prevalent, they're known as the "Bourgeois Bolsheviks."
Most of the writers here are professionals. They know how fucked up the Writing Bid'nezz is, whether dealing with the halfwitted asswipes in NYC publishing and the ones who won't pay anything because "look at all the exposure you're getting," or in my case the fuckwits in Okeefenokee West we call "the suits." And those writers who are successful are successful in spite of all the crapola. The Substack Gnus like Hamish are just another variety of Silly Con Valley idiot.
As Ken White also notes in his excellent essay, Substack gives us each a "nice walled garden." In my experience, the garden's walls are high enough I've never had to make a noise complaint about the neighbors, nor they I. In fact, over the four years I have been here, I never heard of any of the names of the "Substack Nazis". By keeping comments at That's Another Fine Mess limited to paid subscribers, I have not had the problem of Substack Trolls showing up (they're all cheap bastids who don't want to pay for the ability to spew their shit). On the few times I have put up something for all readers to comment on, I had two trolls show up - it took me less than 5 seconds in both cases to reduce them to their component electrons with a smile on my face.
If the Concern Trolls who are always out there to herd you into doing what they think is the Right Thing want to show their moral purity by leaving, Substack will be better for their departure.
In the meantime, I'll go back to my nice walled garden, where my readers are people I have come to think of as friends.