The worst affront to the national interest is that these compensation arrangements created incentives for CEOs to "roll the dice" in search of the biggest possible scores for the company (and, not coincidentally, themselves), with too little regard for the downside risk if they bet wrong. And with no appreciation for the potentially dangerous consequences of such gambles, in the aggregate, for the economic security of the American people.
Noah Smith on the economics of AI
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What’s kind of amazing is that with the exception of Derek [Thompson], none
of these writers even tried to question the standard interpretation of the
da...
2 hours ago
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