As I start writing long-form a few of my “core themes”, those that inform how I think about everything, start showing up.
I’ve been thinking about this, particularly the difference with good and bad arbitrages.
My sense is that good arbitrages expand the game (eg innovation and entrepreneurship) while bad ones are parasitic (eg rent seeking, deceit, slavery).
Scott Alexander described the psychofauna behind bad arbitrages as Moloch. I think I’m gonna call it “Dark Alpha.”
"Dark Alpha" is a great coinage!
I’ve been thinking about this, particularly the difference with good and bad arbitrages.
My sense is that good arbitrages expand the game (eg innovation and entrepreneurship) while bad ones are parasitic (eg rent seeking, deceit, slavery).
Scott Alexander described the psychofauna behind bad arbitrages as Moloch. I think I’m gonna call it “Dark Alpha.”
"Dark Alpha" is a great coinage!