You can camoflauge vs environment or vs the herd

Lions camouflage vs their enviornment (grasslands).

Zebras camouflage vs their peers (can’t pick just one out to kill and chase).

>> This leads to people trying to avoid suffering. How? avoid being picked out of the herd.

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PREDICTION: Stagnation for capital

A few companies crush and others die. Hollowing out of the middle.

Returns to ETFs drop overall, forcing active investment.

Capital deployment pressure increases.

Big winners have access to cheaper money. Small winners need less money, more niche/transitory.

Real estate gets driven up by capital pressure, down by autonomous vehicles. Maybe neutral or negative.

You can’t make as much money by just having money anymore… gotta do fuckign work

HOW TO KNOW: https://ycharts.com/indicators/sandp_500_total_return_annual

HOW TO KNOW: https://finance.google.com/finance?q=NYSEARCA%3AVNQ&sq=reit&sp=2&ei=07nCWam0BpbRjAHftq-QDg

 

The apprentice will be more capable than the academic

First there are people who do the work. They become the artisans or the engineers or the doers. They build experience.

Secondly, scientists (more broadly epistemologists) distill why what they do works. The logic of how this and not that. Why does quenching the blade in urine work well?

Thirdly, the scientists begin teaching how things are done (rather than the artisans, who are more interested in doing than knowing). This creates a disconnect between the knowledge of doing and the knowledge of knowing.

Those taught by those without the knowledge of doing suffer. They have been taught to learn rather than to do. More ideally the artisans teach and the knowledge of why is used to guide a more efficient training; rather than the knowledge of why being a foundation for a training.