Zvi—FWIW, your refutation of the winning essay on AI, interest rates, and the efficient market hypothesis (EMH) seemed very compelling, and I’m surprised that essay was taken seriously by the judges.
Global capital markets don’t even seem to have any idea how to value crypto protocols that might be moderately disruptive to fiat currencies and traditional finance institutions. Some traders think about these assets (or securities, or commodities, or whatever the SEC thinks they are, this week), but most don’t pay any attention to them. And even if most traders thought hard about crypto, there’s so much regulatory uncertainty about how they’ll end up being handled that it’s not even clear how traders could ‘price in’ issues such as how soon Gary Gensler will be replaced at the SEC.
Artificial Superintelligence seems vastly more disruptive than crypto, and much less salient (at least until this year) to most asset managers, bankers, traders, regulators, etc.
Zvi—FWIW, your refutation of the winning essay on AI, interest rates, and the efficient market hypothesis (EMH) seemed very compelling, and I’m surprised that essay was taken seriously by the judges.
Global capital markets don’t even seem to have any idea how to value crypto protocols that might be moderately disruptive to fiat currencies and traditional finance institutions. Some traders think about these assets (or securities, or commodities, or whatever the SEC thinks they are, this week), but most don’t pay any attention to them. And even if most traders thought hard about crypto, there’s so much regulatory uncertainty about how they’ll end up being handled that it’s not even clear how traders could ‘price in’ issues such as how soon Gary Gensler will be replaced at the SEC.
Artificial Superintelligence seems vastly more disruptive than crypto, and much less salient (at least until this year) to most asset managers, bankers, traders, regulators, etc.