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Cake day: June 2nd, 2023

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  • I’ve heard economists say that Ticketmaster is a useful scapegoat for a lot of natural problems in the music industry. Taylor swift is selling tickets for what seems like a reasonable price, but the laws of supply and demand say they are worth far more. Taylor doesn’t want to sell her tickets for closer to what they are actually worth since it would make her look like a price gouging jerk. Anytime in economics you have a mismatch between the price something is being sold for and what someone is willing to pay for it, there’s an opportunity for money to be made, people will take that opportunity if they can, and in doing so the price will tend toward the true intersection of supply and demand.




  • Correction: Moore’s law predicts that the number of transistors on an integrated circuit would double every two years. It doesn’t make predictions about computers being “faster” or able to handle a certain “workload”. The only thing it predicts is the growth in physical capacity of a single chip.

    And we actually broke Moore’s law and this capacity growth slowed a decade ago since manufacturing techniques started being the bottleneck.