Exactly. Here's a great example of them criticizing NYU for researching political influence & advertising on the Meta platform:
"Research Cannot Be the Justification for Compromising People’s Privacy"
https://about.fb.com/news/2021/08/research-cannot-be-the-jus...
Well, I hold crypto, but admittedly it's kind of failed as far as payments are concerned.
I used to use BTC quite regularly for payments back in like 2014-2015. But now, it's too expensive to move around due to fees so I just hold it. The same can be said even of ETH - the fees are too high to interact with a lot of the DeFi stuff.
There are 'layer 2' solutions that tackle the fees issue but uptake of these has been slow.
It's why they pivoted to calling BTC a store of value years ago. The payments side of crypto is kind of disappointing.
I think E3 was on its way out regardless. Nintendo dropped out of E3 years before COVID even happened. I attended a few years and it seemed like the bigger publishers such as Activision kept downsizing their presence at the event. COVID accelerated things for sure, but I imagine the end result would be the same.
Wages are definitely up, but if you factor in all the price increases of rent and groceries, I don't see how anything is better for the poorest. I've seen fast food places here hiring @ $20-25 an hour - that would maybe be enough to buy a 1 bedroom condo 4 years ago in less expensive areas, but you certainly can't on that salary now, not at current mortgage rates anyway. So they're basically in the same place it seems.
And if we're strictly speaking about the poorest - they also don't have a 401k or retirement savings, so they aren't benefiting from the increase in asset prices.
> Between 2019 and 2022, low-wage workers experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real wage growth at the lower end of the wage distribution was exceptional, significantly faster than in any other business cycle peak since 1979.
Adjusted for the inflation on the items that the poorest tend to spend their money on? The inflation statistics I've seen have a few buckets for certain kinds of expenses, but don't break things down into baskets of goods based on income.
: As there are no official estimates of inflation by demographic and income groups
: In the first post of this series, we present disparities in inflation rates across racial and ethnic groups as well as across income groups between June 2019 and December 2022. We present evidence that during this period, Black, Hispanic, and middle-income households were most affected by rising inflation, experiencing steadily higher price increases relative to the overall average between early 2021 and June 2022. This pattern is largely because a greater share of these groups’ expenditures is devoted to transportation, particularly used cars and motor fuel, categories that led the 2021 inflationary episode. However, over the last five months, as transportation inflation has declined, these gaps have declined as well.
: It is likely the case that the same rate of inflation represents a greater welfare loss for lower-income than higher-income households because of the former’s lower capacity for substituting to less expensive goods, greater liquidity constraints, and larger marginal utility of real income.
Well no, inflation-adjustment is inherently naïve. It assumes that everything rises at the same rate of inflation, which is obviously not true. Rent has surged far faster than inflation for example.
> inflation-adjustment is inherently naïve. It assumes that everything rises at the same rate of inflation
It doesn't. "Real wages" are adjusted to changes in CPI. It makes no assertions that everything inflates at the same pace, any more than the overall CPI figure does the same.
If your wages went up 20%, and the CPI went up by 10% (composed of, say, a 40% rise in rent and some commensurate declines in other goods and services), your real wages went up by 10%. Of course, how that impacts actual individuals is different based on their circumstances.
The problem is that CPI does not accurately reflect true inflation. If you chart wage growth to M2, you see it hasn't' kept up, and you also can see that assets have outpaced inflation quite a bit.
>These items are products such as used cars, furniture and appliances, which saw big run-ups in prices during the pandemic.
So is this an actual reduction in price, or yet again just covid supply squeezes easing off? Does a 2.6% drop in price actually offset the price increases of the past 5 years?
I'm sorry, that was poorly worded. What I was trying to say is that if the CPI is 10% and one component of it is 40%, it implies the presence of other components that are under 10% (and of course, the possibility of some that might have been negative).
> Wages are definitely up, but if you factor in all the price increases of rent and groceries, I don't see how anything is better for the poorest
Well yes - rent is driven up by more people being around, and groceries by wages and fuel going up. As for fast food jobs - if a fast food job can get you a place to live by yourself that's amazing, but surely that's going to be harder and harder to find as demand stays high and the number of 2-income families, who can just out-bid you easily, also is high.
Will they be able to buy though if they lose their job? Rate cuts usually come with a spike in unemployment, so...
That said I still don't think there will be a collapse unless there is like, worse unemployment than 2008. But - prices could still easily drop 10-15% if this is a more mild recession.
Rate cuts are usually done in response to unemployment spiking. It could take things awhile to recover once they start cutting as that likely means the economy has entered a recession.
That being said - it could be the best time to buy, but not for those that lose their job.
Yea uh... I don't think it's for telemetry. These aren't the original developers of the games and most aren't even professional devs, they probably just think it's cool to add those achievements.
Too many people worth following still are using Twitter. Until they leave and there isn’t a reason to go on the site then there won’t be any mass exodus. I doubt the forced login is having a huge impact so far. Maybe Meta’s alternative will have a bigger impact.
It’s interesting, I’ve seen ton of my people I follow complain about Twitter yet they still keep posting. The site is only going to go under if people start if actually leaving.
Like people posting on Reddit right up til the end and beyond. If you want to make a real statement, delete your account before it is forced. Rip the band aid off in one go!
Yet they go and do this. Which is much worse than just scraping public pages.