[ExI] The run up to the singularity
rpwl at lightlink.com
Thu Apr 14 14:15:36 UTC 2011
Keith Henson wrote:
> Years ago I (partly) joked about a sign of the singularity being
> immanent being that someone could start a company at breakfast have it
> be worth a billion dollars by noon and bankrupt by dinner.
> This is not that fast, but it's certainly getting faster.
> "Rutkowski cited the company Zynga that created Farmville as being
> worth almost $12 billion now and it “didn’t even exist 18 months ago”.
> Economics 2.0 anyone?
You have got to be kidding.
The millionaires' gambling casino known as the "free market" got faster
betting machinery, so it could speculate harder and faster and bigger
... and this has how much to do with the singularity?
Stock market gambling thrives on *gradients* in the curves. Static,
orderly pricing is a hideous disease threat to that kind of gambling, so
it has to be eliminated wherever possible. The drive toward volatility
in the trading systems creates opportunities for the gamblers, so they
promote it like crazy.
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