Mike Solyom
@ForLangley
Langley City Councilor. Econ faculty at Douglas College. @SFU and @UofT grad. Husband and father of two.
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For the AI Coke ad, 100 people involved, price comparable to older AI free ads, 70000 AI video's generated. It doesn't sound like it was cheaper or more efficient & there's the added element of brand damage from people who think it looks terrible and soulless.
Full victory speech: Democratic New York City Mayor-elect Zohran Mamdani delivered an impassioned speech Tuesday night, in which he thanked supporters, addressed President Trump directly and promised that he would usher in a new chapter of change. cbsnews.com/live-updates/e…
I have been writing for years about the fact that we are not ready for the destruction of costly signalling mechanisms. Writing used to be a way of measuring effort, ability and diligence. We still have no easy substitute. oneusefulthing.org/p/setting-time…
What happens when online job applicants start using LLMs? It ain't good. 1. Pre-LLM, cover letter quality predicts your work quality, and a good cover gets you a job 2. LLMs wipe out the signal, and employer demand falls 3. Model suggests high ability workers lose the most 1/n
The empirical evidence seems quite clear that student evaluations of teaching (SET) mechanically lead to grade inflation and lowering of standards. sciencedirect.com/science/articl…
Back when i was a professor, early on I used to get bad reviews occasionally. My institution was extremely critical of this. So, what did I discover was the easy solution? I watered down my course and made everything easier. Magically, I started to get near perfect evaluations in…
1975 must’ve been one hell of a year to be alive in America. Everyone was out here. No wonder there were so many serial killers.
One of the least talked about problems is Starbucks business model is that for years, the company was built on a formula that made perfect sense, fill every corner of every major city with cozy cafes where people could work, and socialize. That model thrived when office towers…
wait they CHARGE you £1k for each of your children via a 10% per child income tax but only between £50k and £60k? what on earth is this nonsense
One of the most bizarre things in the UK is that it has a maximum wage for high income families. You have to push through this *hard* if you want to earn more. I don’t understand who designed that.
i like how the us is slowly committing national suicide so rich old people never have to be inconvenienced by anyone. very healthy body politic
Todays episode of Boomer Luxury Communism: Texas voters will vote on a new measure slashing school taxes for boomers 65+ by approximately 50% in addition to further slashing property tax for boomers alone
I was really surprised when I first saw this chart on water use by data centers. Given how much it gets discussed as a supposed problem I would have expected it to be more than this.
"Expect to spend 10-15 hours on each week's problem set" I don't know if anyone has the stomach for this anymore.
When I was studying in college, the process was beautifully brutal. You’d be handed a problem or a theorem to prove, and the real work began, not just solving it, but wrestling with it. try different approaches, hit dead ends, rethink, and eventually sometimes after hours or days…
And further validation in many field settings: theory says that prices should not differ by more than transport costs, provided price info is available. Here is what happened to fish prices when mobile phones were introduced in Kerala:
No, economists will look you dead in the face and call *this* science. The first image is theory - the second is the experimental demonstration of the theory. researchgate.net/profile/Vernon…
Grade inflation is out of control: 60% of grades are now A’s. That’s risen from 26% just 20 years ago.
Starting to think a Greek mythology punishment might be in play here. The game is doomed to continue until the Blue Jays are brave enough to pitch to Ohtani.
The past 50 years of economic theory goes like the book of Genesis. In the beginning God (Chicago) made the heavens and the earth, and man in his image, and there was a garden in Eden and all was good (welfare theorems always hold, equilibrium outcomes are all Pareto efficient)
Reaction to this is fascinating - and tells you something important. For example - if we clawed back OAS entitlements from $182k to $100k income, in line with child benefits, we could save $7 billion/year. But even doing that would be politically toxic it seems.
There's something very symbolic about Carney telling a room full of young people they've got to make sacrifices - something i'm sure he's not going to tell to all the people collecting pensions from houses worth 20x what they paid for them
The effectiveness of a tool depends on the skill of the craftsman. If a hammer is used maliciously by some, the answer is not to discourage the use of hammers more broadly. Learn about hammers--learn their uses and limitations. Oh, and try to get along with others. 🙂
Mainstream economics has caused immense social harm with this simplistic incapable S-D diagram It is a pre-historic tool, not fit for our complex world
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