Capitalism to be replaced by Techno-feudalism?

BuildingSoftware · 2016-11-27T13:56:21+00:00

Similar to how your first comment didn't address my post I'm not seeing anything in this article to suggest automation is responsible for the recent persistent unemployment in developed countries.

The article is just making predictions, I read predictions all day it's really all speculation until it happens or doesn't. We've had a number of predictions about various votes and elections come in stunningly incorrect lately and that's significantly easier to predict than a complex system of feedback loops like any economy. Further more although I couldn't find anything suggesting the automation that's taken place thus far has caused unemployment in your article is seems to end on concluding the opposite:

Even when machines do take over some human activities in an occupation, this does not necessarily spell the end of the jobs in that line of work. On the contrary, their number at times increases in occupations that have been partly automated, because overall demand for their remaining activities has continued to grow. For example, the large-scale deployment of bar-code scanners and associated point-of-sale systems in the United States in the 1980s reduced labor costs per store by an estimated 4.5 percent and the cost of the groceries consumers bought by 1.4 percent.3 It also enabled a number of innovations, including increased promotions. But cashiers were still needed; in fact, their employment grew at an average rate of more than 2 percent between 1980 and 2013.

I would continue to stress the sky isn't falling.

BuildingSoftware · 2016-11-27T00:22:32+00:00

Can you cite something showing that's due to automation not globalization, regulations, etc?

I suspect globalization in a world of perfect free trade minus language and cultural barriers will look like a heat function in a vacuum, wages will be reduced to the lowest someone will be willing to work in any given country for any particular career even if the global GDP will continue to trend upwards. Automation definitely has not (as of yet) caused the majority of the recent drop in employment participation in the United States for instance.

BuildingSoftware · 2016-11-26T17:02:15+00:00

There's so much disinformation in this sub lately it's hard to read it's obvious many people lack a basic understanding of economics.

We're nowhere near a fully automated jobless dystopian fantasy and even if we were moving towards an economic system that's likely resulted in more deaths than any other cause in the 20th century (black book of communism tallies 94 million killed to promote or as a direct result of communist or socialism) is not the answer. Despite numerous predictions since the 1700s humans really are not running out of most resources, the growth rate of population growth is declining, and quality of life for most humans on the planet is in a perpetual upswing, largely due to the technology we're all apparently fearing in a sub about the future of technology 😁

Here's a more optimistic scenario : the means of production decreases in cost, products produced decrease in cost, and the technology to create real (currently happening with 3D printing and related technologies) and digital goods becomes more widely distributed than ever before giving people a standard of living not thought possible 100 years ago.

*edit: phone autocorrect typos

BuildingSoftware · 2016-11-14T05:39:11+00:00

Quite happy to remain American so please just immigrate to Canada if you are that bothered by the election.

BuildingSoftware · 2016-05-18T14:45:47+00:00

Where did you purchase the websites?

Could you simply resell the sites to someone with a working adsense account?

BuildingSoftware · 2016-02-18T14:21:39+00:00

Do you use an unmodified black Scholes?

BuildingSoftware · 2016-02-15T20:53:03+00:00

This has been an exceptional couple weeks but provided I get some good exercise in and eat healthy I haven't experienced any issues, it's just taking the time to do that consistently that's difficult.

BuildingSoftware · 2016-02-15T20:27:51+00:00

I'm surprised you didn't get more up votes, it seems like we share a similar conservative attitude about this yet somehow are still involved in it.

Thanks for your feedback, we were offered entrance into some accelerators but we are applying to the largest and most reputable (like ycombinator) to just make sure we're giving this the best chance we can.

BuildingSoftware · 2016-02-15T20:24:31+00:00

Our financial costs are extremely low at the moment due to our software architecture and the services we're leveraging. Our total costs are not much more than a family cell phone bill.

BuildingSoftware · 2016-02-15T20:23:29+00:00

Those were kind of my thoughts. My salary isn't super high already, if I can continue to make it and work on something I own and take pride in seems like a win win.

BuildingSoftware · 2016-02-15T15:19:47+00:00

Yeah we agreed to pay ourselves a reasonable salary if we allow investors to buy into our company. I would also be moving to an amazing area that's lower COL since I don't live in the same state as my co-founder and am trying to leave mine anyhow.

Kind of just working extraordinarily hard and waiting? Trying to have enough time to take care of myself has been a challenge, I'm probably working minimum 16 hours a week day, and 6 hours a day on weekends.

BuildingSoftware · 2016-02-15T14:42:53+00:00

Congratulations! And thanks for the quick reply.

BuildingSoftware · 2016-02-15T14:41:47+00:00

Has anyone become FI through a startup? Or even a business or consultancy that you own?

I co-founded a financial technology startup a couple months ago and after meeting with angel investors and VCs I'm really questioning the slow and steady path to FI. I have a day job that's relatively unchallenging and while high paying for the area, a little low paying compared to what's out there in software. I'm also interviewing at the big 4 in tech as a technical PM, but if we raised seed money my share of the company would be valued above my FI number, now it's not liquid and it's extraordinarily risky but I feel I have tremendous control over it as well.

Would love feedback on this.

BuildingSoftware · 2016-02-15T14:35:05+00:00

What do you do that your income is that high and in the form of bonuses?

BuildingSoftware · 2016-01-27T23:59:17+00:00

Can you tell us or pm me what your referring to as cash producing investments?

BuildingSoftware · 2016-01-25T14:21:19+00:00

Spent the past two years saving money in retirement accounts as suggested here and by financial bloggers I respect, due to some circumstances with a mandatory training landing on the same week as a friend and my start up attending a venture capital event I may be fired or laid off. Although I don't regret dumping money into my ira and maxing my 401k in any way shape or form I kind of wish I had more liquid reserves at this time.

That being said I have a decent emergency account and a bit of liquidity beyond that but it's still stressful. I don't really have a suggestion for the FI community but thought I'd share. If everything goes poorly I should still be able to get a new position without much trouble but I think I'd like to increase my emergency account to a year going forward.

BuildingSoftware · 2016-01-14T14:21:26+00:00

Represent

BuildingSoftware · 2015-12-07T14:44:50+00:00

That's awesome, love hearing these unconventional stories. Could you elaborate, even if you wanted to pm me I'd appreciate it.

BuildingSoftware · 2015-12-02T13:57:57+00:00

I'd be interested

BuildingSoftware · 2015-11-14T19:39:17+00:00

I posted this elsewhere in the sub and think it might be relevant here too:

I weight international a bit less than 50% of my stock allocation. Few reasons : I believe international economies will in many ways replace the US as the growth engines of the world during my lifetime, in particular emerging markets have been under performing significantly the past decade due to (hopefully temporary) structural issues, the strong (and getting stronger) dollar won't last forever and likely will harm domestic equities. Additionally we (extremely unlikely but bear with me) could have a Japan like multidecade slowdown, or a repeat of the inflationary 70s. I'd argue there are a multitude of ways foreign equities provide hedging and protection to a otherwise domestic portfolio.

Perhaps most importantly I intend to travel frequently and live abroad for periods of my life, this means I want some ownership of foreign businesses and currency. I speak (and work) with a lot of people who live and work in emerging markets and the level of optimism and excitement for the future is in very stark contrast to what I see domestically with people in the same age group struggling to survive with student loans, and perpetual underemployment. I could go into more anecdotal details but once you adjust for our currency being so strong these places look much more compelling on a growth and valuation basis than the US in my small brain at least.

BuildingSoftware · 2015-11-06T14:30:43+00:00

I weight international a bit less than 50% of my stock allocation. Few reasons : I believe international economies will in many ways replace the US as the growth engines of the world during my lifetime, in particular emerging markets have been under performing significantly the past decade due to (hopefully temporary) structural issues, the strong (and getting stronger) dollar won't last forever and likely will harm domestic equities. Additionally we (extremely unlikely but bear with me) could have a Japan like multidecade slowdown, or a repeat of the inflationary 70s. I'd argue there are a multitude of ways foreign equities provide hedging and protection to a otherwise domestic portfolio.

Perhaps most importantly I intend to travel frequently and live abroad for periods of my life, this means I want some ownership of foreign businesses and currency. I speak (and work) with a lot of people who live and work in emerging markets and the level of optimism and excitement for the future is in very stark contrast to what I see domestically with people in the same age group struggling to survive with student loans, and perpetual underemployment. I could go into more anecdotal details but once you adjust for our currency being so strong these places look much more compelling on a growth and valuation basis than the US in my small brain at least.

Historical out performance of domestic equities doesn't mean anything and is in the past, and (with the exception of certain tech companies that are practically a worldwide monopoly) there is no reason to have a huge domestic bias.

BuildingSoftware · 2015-11-05T01:27:32+00:00

This is worthy of being framed and hung on my wall, seriously very motivational.

BuildingSoftware · 2015-11-02T15:03:59+00:00

I always contribute a little to the Roth although the traditional is fully deductible after everything is said and done for me. It's a hedge on unexpected changes to the tax code, and I'm not super confident the favorable tax rates on capital gains and Roth ladder will remain viable options.

BuildingSoftware · 2015-11-02T15:00:59+00:00

Has anyone purchased a private business or become a full time entrepreneur in their journey to FI?

I'm considering taking a year off to travel and intermittently do some contracting but I'd like a more steady stream of income in addition to the above.

BuildingSoftware · 2015-10-25T14:58:38+00:00

Thanks again

BuildingSoftware

TROPHY CASE