TIL

“Hebrews 6:18 says that it is impossible for God to lie. ”

---Ronald Brooks. “Come, Let Us Reason.”

Here's another quote about the relationship between natural sciences and logic:

“There is a big difference between the laws of nature and the laws of logic. Natural law is really only a description of how things normally do operate; but laws of logic are more like ethical laws that tell us how our minds should operate, even if that is not the way we always think. Natural laws deal with the way things are; logical laws deal with the way things ought to be. In this sense, logical laws are prescriptive, calling for our obedience, since we ought to think logically. But natural laws are only descriptive and make no such demand. Also, logic flows from God’s rational nature, and he cannot change his nature. ”

TIL

On any given day, algorithms are responsible for about 95 percent of transactions on American stock exchanges.

https://www.bloomberg.com/news/features/2018-11-19/the-triple-jeopardy-of-ke-xu-a-chinese-hedge-fund-quant

Capitalism is dead

Schumpeter: "capitalism is a form of private property economy in which innovations are carried out by means of borrowed money, which in general, though not by logical necessity, implies credit creation."

In the VC-based innovation model — the most successful innovation strategy to-date — startups don't borrow money and as a result, there's no credit creation. The entire process of value creation in hi-tech is fundamentally different from what is being covered in mainstream economics/finance.

I wonder whether the progressive bend of most successful technology companies originates in their own experience that has little to do with classical capitalism.