#259 The Reckoning to Come, with Balaji Srinivasan

1) I am recording these observations as I go, since this episide is 4 hours long. I'll do my best to listen to the guest, Balajit Srinivasan, with an open mind. This will be hard, because within the first few minutes he already brags about a $300 million sale of his first company, then injected some patently false modesty before crowing about his current angel investing.

2) Ugh--not the old "the age of numbers that is replacing the age of letters." If every tech guru who repeated that would only bother themselves with the letters, they would learn that this old saw has been buzzing around for the past hundred years or so.

3) In response to Sam's request for his "30,000 foot view of the world," Balaji observes that the 21st-century was the mirror image of the 20th century, because in the 20th century "the West was capitalist and the East was communist," and now in the 21st-century "the East is ethnocentrist and the West is ethnonationalist." In other words, he conflates left/right economics with left/right politics. The inability to distinguish between capitalism and racism does not bode well for one's mental clarity.

4) More intellectual fogginess: Balaji claims that Americans believe “whites are the worst.” It’s hard to imagine what minority of opinion he is using to serve to the characterize the entire country. Especially coming as he does from Silicon Valley, which has to be among the whitest major metropolitan areas in the world.

5) Another dubious claim: "the world was in a centralizing era pre-1950, but the advent of the transistor opened up everything and democratized speech." I had to laugh at that, because I have a 180 degree different take on it: there were tremendously more avenues for broadcasting your ideas before the internet than there are now. Balaji references the three big TV stations, completely ignoring that every major city in the US once had its own independent TV station. And several newspapers! Remember those? Gone! As are the thousands of independent radio stations and viable book publishers that used to exist.

I have an inkling that Balaji believes that any speech of importance can find an audience merely by posting it on Twitter, or a blog, or something. Exactly what I'm trying to do here. And I imagine some of the fifteen of you occasional readers can understand more easily than Balaji, how the fact that he can pontificate on the web and reach hundreds of thousands of eyes proves nothing about the democratization of media, proves if anything the opposite of it, requiring as it does his own rarified position in order to gain an audience of any size.

6) OMG, I can't belive Balaji called FDR a dictator. Man! Talk about devaluing the currency on THAT word. His evidence are some WPA programs which he claims were wrong-headed because they hadn't sufficiently helped recover the world economy, shattered by WWII and the Great Depression, before FDR's death. And--get this--further proof of dictatorship was the Japanese internment during WWII.

Ah, Balaji! If only you had bothered your head with more of those letters you disparage. Perhaps a real history book, rather than your tweets and memes and objectivist circle-jerk claptrap you mention several times in the interview. If you had only managed a little of a liberal arts education!

Seriously, dude, at least look at Wikipedia! The interment of the Japanese was an idea that Roosevelt considered and then rejected based on advice from his cabinet. It only happened because mobs of your beloved objectivist Californians clamored for it. FDR had to be dragged into it unwillingly. This is actually the opposite of how a dictator works.

7) The fact that Balaji so highly recommends The Sovereign Individual is an indication of just how deeply he has drunk of the Silicon-Valley-libertanian Kool-Aid. I guess I should at least give him credit for the uniformity of his convictions. Still, one shudders to think of him in some bar in Palo Alto, toasting his new purchase of a New Zealand safe room with his fellow VC, passing around copies of the book that tells how the Old World is doomed and what you need to do to still be on your feet when the New World is born.

8) Sam does a good job of pushing back on some of Balaji's wild claims, like "you can't make a fuss about illogical TSA screening or you'll miss your flight," or "the problem with the FDA is the power they wield," which in his twisted logic made them obstruct early COVID screening. But one hears from Balaji little interest in the actual facts on the ground at the FDA. And what's with the childish notion that making a stink at the airport is the best way to protest illogical TSA policy?

9) Balani says federal regulation is not about keeping big corporations in check, but about crushing their competition. Which makes it awfully hard to explain why big corporations spend billions on lobbying every year to try to get themselves deregulated. And one has to wonder what mental gymnastics Balaji needs in order to explain why, a few years after the investment banking industry managed to get Bush Jr to reduce regulation, we got the worst financial crisis in living memory. No, wait, I know--he probably thinks bitcoin is the answer ;)

10) I really had to grit my teeth at 1:03 when this nutcase tries to say that price-fixing regulation is only arbitrarily enforced. I mean, what fucking planet did this guy grow up on? How can he possibly argue, as he does very passionately, that laissez-faire capitalism is actually good for consumers?! What does he think about all the people who died from poisoned meat and tainted milk in the 1900's? Or the massacres of coal miners? Or a million other abuses of power?

11) Shit: there are still 3 hours left to this podcast, and I'm getting really sick of listening to this guy. Even though I have the playback speed set at 1.5X. I don't care how rich he is, this Balaji Srinivasan schmuck has his head so far up his ass he can see out through his own nostrils.

I'm going to suck it up and try to last through his explanation of bitcoin and blockchain. But unless something remarkable comes up, I'm quitting here. I'm sorry, I really tried to listen to this loony with an open mind. Why I failed may be an interesting subject to get into some day, but I prefer to keep this particular post focused on the contents of the actual episode.

Edited in: Good god, his inaccurate swipes against legitimate journalists are maddening.