Peter Gratton

@petergratton.bsky.social

2237 Followers 780 Following

Peter Gratton, PhD, is an editor at Investopedia, book author, and professor of philosophy. He covers political theory, technology, finance, and political economy. Views are definitely my own.

hristopher Allen Wright was born on January 15, 1965, and raised in Colorado. He earned his undergraduate degree in mechanical engineering from the Massachusetts Institute of Technology (MIT), where he also completed graduate studies in electrical engineering. During his time at MIT, Wright developed a deep interest in energy systems, which laid the foundation for a career spanning multiple sectors of the energy industry.
At least 13 analysts now cover the company, and only one of them—Susquehanna International Group—has a neutral stance. SpaceX is the “apex of civilizational ambition,” Deutsche Bank wrote; “King of the Cosmos,” according to BofA Global Research; a company with “supernormal growth rates,” per Citi; and sporting “multiple trillion dollar market opportunities,” Goldman Sachs said. 1 Virtually all give the company credit for owning and controlling its supply chain, and nod to its enormous potential given the space and AI theme, but some are much more bullish than others.
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://help.ft.com/faq/gifting-and-sharing-an-article/what-is-a-gift-article/. https://www.ft.com/content/4651ae29-51b2-416c-89bd-3427617b131a?syn-25a6b1a6=1 Interviewed after winning last year’s award for The Thinking Machine, his in-depth investigation of AI chipmaker Nvidia, Stephen Witt speculated that in future, his book might “respond to the reader . . . and then, on the fly, using AI, generate a unique bespoke text that speaks directly to their concerns”.
n audibly hostile Justice Neil Gorsuch was no less impressed. He questioned Sauer’s reliance on “Roman law sources” and other obscure citations while pointing out that more relevant, authoritative sources cut against his argument.
A “remember me” check box for a web site sign-in.
Table titled "Differences between high and low exposure workers," showing demographic, education, and labor market characteristics for two groups drawn from the Current Population Survey: workers with no AI exposure (n=42,546) and workers in the top quartile of AI exposure (n=32,301). High-exposure workers have 38.8% AI task coverage versus 0% for the unexposed group. High-exposure workers are more likely to be female (54.4% vs. 38.8%), white non-Hispanic (65.1% vs. 54.5%), and Asian non-Hispanic (9.1% vs. 4.7%), and less likely to be Hispanic (13.8% vs. 24.8%) or Black non-Hispanic (9.7% vs. 13.2%). Education levels differ sharply: high-exposure workers are far more likely to hold a bachelor's degree (37.1% vs. 13.3%) or graduate degree (17.4% vs. 4.5%), while low-exposure workers are more likely to have only a high school diploma (38.9% vs. 17.7%) or less than a high school education (13.2% vs. 2.3%). In labor market outcomes, high-exposure workers earn a higher average hourly wage ($32.69 vs. $22.23) and are less likely to be union members (5.3% vs. 11.7%).
Two X posts by Kalshi showing bets on on world leaders out before 2027.
Kalshi X post showing Maduro giving a thumbsup.
An image of a mountain where the CIA lost a nuclear device with a curved arrow pointing to the top where they lost it.
This paper documents that members of Congress exhibit significantly improved stock trading performance only after ascending to congressional leadership positions. Because competing for congressional leadership is largely driven by political ambition rather than personal trading gains, ascension serves as a plausibly exogenous shock to information access and influence, allowing us to estimate the causal effect of leadership status on trading outcomes. Prior to ascension, future leaders and matched non-leaders display similar returns. After ascension, however, leaders outperform their matched peers by up to 47 percentage points per year.
Local Power for Making NYC More Equal in the font/coloring of NYC Mayor-Elect Mamdani's election posters.
Responsible, shareholder-first governance ties leadership’s upside to sustained shareholder value, through a transparent and disinterested process. That’s exactly what Tesla has delivered. Now, it’s up to shareholders to have the final say.
Headlines on Trump telling military brass cities should be a training ground, Florida handing over property to Trump, and Memphis prepping for a federal force, followed by Trump's approval ratings being stable in a NYT set of headlines.
Chotiner: So you think Hayek has interesting ideas? Michael: Yes, even though I disagree with his conclusions Chotiner: Interesting. And when you say "interesting ideas," you're referring to his economic theories about freedom? Michael: Yes, exactly Chotiner: The same theories he used to justify supporting Pinochet's dictatorship in Chile? Michael: Well, I mean... Chotiner: And when he wrote that he preferred a "liberal dictator to democratic government lacking liberalism"? Michael: That's not the part I— Chotiner: What about his views on apartheid South Africa being acceptable given “factual conditions”? Michael: I…
Words are not violence, nor are they powerless. Burying the truth of the Confederacy, rewriting its aims and ideas, and ignoring its animating words allowed for the terrorization of the Black population, the imposition of apartheid, and the destruction of democracy. The rewriting and the ignoring were done not just by Confederates, but also by putative allies for whom the reduction of Black people to serfdom was the unfortunate price of white unity. The import of this history has never been clearer than in this moment when the hard question must be asked: If you would look away from the words of Charlie Kirk, from what else would you look away?
Nevertheless, the results are clear: an endowment that often significantly trails its peers while piling on debt whose repayment hinges on UChicago's hospital growth delivering as promised. The irony is excruciating for a university that helped create modern portfolio theory and the efficient market hypothesis.
Foucault quote about choosing flows over unities
Mr. Trump installed first one and then another acting FEMA administrator who lack experience in emergency management. The current acting head, David Richardson, told employees in June that he did not know the United States had a hurricane season — a comment that unnerved FEMA employees who heard it. The agency later said Mr. Richardson was joking.
The U.S. Census Bureau today released a new report that shows the demographic, social and geographic characteristics of bachelor’s degree holders by field of study. According to the report, Field of Bachelor’s Degree in the United States: 2022, bachelor’s degrees in business management and administration (4.8 million), psychology (3.7 million), general business (3.7 million), nursing (3.6 million), and general education (3.1 million) were the most common in 2022 among those age 25 and older.
In Belarus, for example, the fertility rate in 1988 was at replacement level; it fell to an abysmal 1.22 only nine years later. But then it rebounded, all the way up to 1.73 by 2015. Australia’s birth rate fell to 1.7 in 2001, only to bounce back to 2.0 in 2008. France’s rate followed a similar trajectory during the same period, as did Italy’s and Sweden’s. “To the extent you think the ‘World Population Prospects’ are wrong, that is the extent to which you are saying, ‘This time is different,’” Lyman Stone, a Ph.D. student and birth-rate consultant, told me.
A driving map showing the Museo MAGA near Milan.
A New York Times headline: 'Two Weeks' Is One of Trump's Favorite Units of Time
There the authors argue for the aptness of Frankfurtian “bullshit” to describe LLM outputs—all LLM outputs, even those that happen to be “true” in a merely factual sense—because LLM’s, by their nature as machine learning systems, cannot connect their outputs to the real world in the classic Sausserian model of a sign and a referent.
A step now towards a conclusion. I would like to propose that the transformer architecture of the current generation of large language models in fact mirrors the predominant form of language game that is played out in partisan political discourse and media. Take Trump’s February 18th statement that Elon Musk is not, in fact, the head of DOGE. This is of course bullshit. Indeed, Trump’s pronouncements and claims are often bullshit, a banal observation to be sure but I mean it now in the specific Frankfurtian sense of “a reckless disregard for the truth.” His statements are lies in a basic everyday sense, but in a more analytically precise way they are bullshit because the intent is not so much to deceive as to the truth status of the statement as to render the distinction between truth and falsehood irrelevant. This may be a function of the sheer volume of bullshit—certainly one of Trump’s tactics—but it is also the manifest reality of a stance toward language itself, wherein language becomes unmoored from real-world referents and simply exists to operate as language, which is to say as tokens in a language game. This is also the basis for commonplace online behavior patterns such as “whataboutism,” where every eventuality can be paired with a counterpoint, not for purposes of actual analytical weighting of the two but merely so that the game—materialized in the form of algorithmic tracking of engagement, trends, and sheer volume of content—can progress, a kind of dialectic with an always deferred resolution. If this is beginning to sound vaguely Derridean,....
But given his belief that robots will unleash never-before-seen levels of productivity, Musk reassured Cruz that, barring human annihilation, it is “80 percent likely we will have extreme prosperity for all.”
The report says that while children may recognize that AI-generating nonconsensual content is wrong they can assume “it’s legal, believing that if it were truly illegal, there wouldn’t be an app for it.”
Shares of Fannie Mae and Freddie Mac shot higher on Wednesday after President Donald Trump said they would retain their government guarantees even after “going public.” “I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President,” Trump posted on Truth Social Tuesday night. Fannie Mae and Freddie Mac shares were up 9.3% and 13.6%, respectively, shortly after the open on Wednesday. Both were on pace for their highest closes since summer 2008, according to Dow Jones Market Data.
A picture from a Bloomberg article showing a chart that 1 in 5 Gazans are facing the worst phases of hunger.
This is data showing that many majors related to computers are far higher than the average rate for college graduates.
In a separate move on Monday, BTC Inc, the company behind Bitcoin Magazine, said it had struck a deal to merge its blank cheque investment vehicle Nakamoto Holdings with Nasdaq-listed opioid healthcare KindlyMD, to raise $710mn in equity and convertible debt to buy bitcoin for its corporate treasury.