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Cake day: June 9th, 2023

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  • The media completely failed at their job of informing the public.

    A democracy requires an informed citizenry, and the US media over the past eight years in particular created an increasingly misinformed citizenry.

    When people are more concerned that a trans girl might play on a softball team than that the climate crisis might profoundly devastate the biosphere and much of life on it, human and otherwise, for the next 10,000 years, the media has failed. When people worry about crime when it is low, an economy when it is thriving and immigrants when they do much of the hard work that sustains that economy and commit fewer crimes than the native-born, the media has failed.

    When it came to Donald Trump, they went easy on him, and they again and again let him and the far right set the agenda. They constantly treated asymmetrical issues as symmetrical ones – if the Democrats resisted Republican outrages, both sides were “polarized”. In the media everything had two sides, even if one side was the truth and the other was the lie, one side was the human rights or the law and the other side was their violation.

    They went soft on Trump’s criminality and incompetence, and his sheer volume of scandals meant that the past ones were forgotten as the next one erupted. He would not have won his 2016 minority victory had the US news media adequately conveyed that Trump was not the fun fictional character in the reality TV show The Apprentice; he was a serially bankrupt man repeatedly accused of sexual assault with a lot of criminal ties and a history of not paying his bills, being helped on by the Vladimir Putin regime, which had itself seriously corrupted the information environment of the election.

    https://www.theguardian.com/commentisfree/2024/nov/07/us-progressive-election-trump-maga





  • The 2017 tax bill that the Republicans rammed through had a time bomb in it for software developers. Starting in 2022, companies could no longer expense R&D costs, and instead had to amortize them over 5 years. This has led to massive tax bills in 2023 for companies. I have no doubt that this is another major factor in the recent tech layoffs.

    Take an imaginary bootstrapped software business called “Acme Corp.” This company generates $1,000,000 of revenue per year running a SaaS service. It employs five engineers, and pays each $200,000. That is $1,000,000 paid in labor costs. For simplicity, we omit other costs like servers and hosting, even though those costs can also fall under the new R&D rules, and have to be amortized. So, how much taxable profit does this company make?

    In 2021, the answer would be zero profit. In 2022, the answer was $900,000 in profits(!!)

    https://newsletter.pragmaticengineer.com/p/the-pulse-will-us-companies-hire