Larry Taylor @LT931
Financial advisor. Portfolio Manager. opportunity junkie. chart reader. part time artist. terminally optimistic. willowpointegroup.bairdwealth.com Joined November 2009-
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Elon Musk described the government in four sentences and never made a political argument. He read out the schematic. Musk: "Government is a corporation in the limit. It is the most corporate thing. It is maximum corporation. And it's also a monopoly, and also is the only one that's allowed legally to do violence." Take the flag off it and look at what's underneath. It collects revenue. It employs millions. It owns land. It writes the rules it operates under. That's a corporation. Line for line. With three edits. You cannot choose a competitor. You cannot decline the transaction. It is the only one on earth permitted to use force to make you pay. Every other relationship in your life required your consent. This one required your birth. Musk: "Why would you want to give a corporation with no competition that can't even really go bankrupt more money?" There is no condition under which it stops. None was ever built in. Everything that has ever gotten better got better by being allowed to die. Evolution runs on extinction. Science runs on falsification. Markets run on bankruptcy. Your own body runs on cells that kill themselves on schedule. Failure isn't cruelty. It's information. It's the only mechanism in the universe that tells a system it was wrong. Take it away and the system doesn't become permanent. It becomes blind. A company that misreads the world loses customers. A government that misreads the world receives a larger budget the following year. It's the only structure we've built where failure is what feeds it. Musk: "I think the role of government should be that of like a referee, and not a player on the field." A referee was never supposed to be weak. He was supposed to be outside the outcome. The moment he starts scoring he isn't corrupt. Corruption would mean he broke a rule. He wrote the rules. He's just playing, and he's the only one allowed to keep score. A system like that never gets caught. It only gets old. Every civilization that collapsed did it with its institutions still standing. The buildings stayed. The titles stayed. The revenue arrived on schedule. What died was the feedback. The signal telling it that reality had moved and it hadn't. Rome didn't fall in a day. It stopped listening for a century and called it stability. That's the actual danger. Not tyranny. Deafness with a budget. And it runs deeper than politics. Everything you love is precious because it can be lost. A promise means something because the person making it will die. Your time matters because you don't get more of it. Mortality isn't the tragedy of being human. It's the only reason anything costs anything. Then we built one institution exempt from all of it. No death. No scarcity. No consequence. A thing that can never lose anything, deciding what everything is worth. It bills in dollars. It's paid in hours. And it has never once felt what an hour costs. It can be wrong for a century and feel nothing. You get eighty years and have to be right the first time. It doesn't have to win the argument. It only has to outlive the person making it, and it has never lost that one. It borrows against people who don't exist yet, and they will pay, because it will still be standing when they arrive. Then we handed it the only gun. This isn't a conspiracy. Conspiracies need competence and coordination. This is a design flaw, and design flaws only need time. That's the good news. A conspiracy can't be proven or fixed. A design flaw can be both. Everything good in your life exists because something was permitted to fail on the way to it. Every medicine. Every machine. Every idea that survived contact with reality. The one institution that cannot fail is the one holding the gun. That isn't a warning. It's an engineering problem. And every permanent thing on earth was designed by people who weren't.
Jeff Bezos explained why every generation gets the future wrong in the exact same way. He asked a room to imagine going back to 1920 and telling a farmer that “massage therapist” would be a real career. Bezos: “They would not have believed you.” A friend took it further. Bezos: “Forget massage therapist, there are dog psychiatrists.” He looked it up. Bezos: “Sure enough, you can easily hire a psychiatrist for your dog.” Nobody caught what just happened. Every technological revolution in history has created more jobs than it destroyed. Every single one. No exceptions. And every single time, we panicked anyway. Because the jobs being destroyed always have names. The jobs being created never do. That is not a footnote. That is the mechanism. The human brain treats what it can name as real and what it can’t name as fantasy. No generation in history has ever overcome that instinct. We are not overcoming it now. Right now AI fear has everything. Job titles. Timelines. Research papers. Congressional hearings. AI opportunity has nothing. No names. No categories. No vocabulary. Not because the opportunity is smaller. Because it requires inventions nobody has built, inside industries that don’t exist, solving problems nobody has discovered. A farmer in 1920 couldn’t imagine “social media strategist.” Not because he lacked intelligence. Because radio, television, personal computers, the internet, smartphones, social platforms, and the creator economy all had to exist first. Seven inventions deep. Every link in that chain had to be built before the job could even be a sentence. The limitation was never imagination. It was infrastructure. You cannot think your way to a job that requires technology nobody has invented. The brain doesn’t fail here. Language does. We are standing at the first link in a chain we can’t see the end of. Making confident predictions about the last one. The fear sounds credible because it’s specific. The opportunity sounds naive because it’s invisible. But specificity is not accuracy. And invisibility is not absence. The historical record is undefeated. Every “this time is different” has been wrong. Not most of the time. Every time. The very fact that we’re afraid is the proof. We only panic about technologies powerful enough to reshape everything. And technologies powerful enough to reshape everything have never once failed to create more than they destroyed. The fear is not evidence the future is dark. The fear is evidence the opportunity is so large we don’t have language for it yet. The jobs AI creates will sound as absurd to us as “dog psychiatrist” would’ve sounded to a farmer in 1920. Until someone’s running a waitlisted practice charging $300 an hour.
Okay this is genuinely insane. SpaceX just unveiled a satellite whose only job is to run AI. Not internet. Not GPS. Just compute, floating in orbit. It's called AI1, and the reason behind it breaks your brain. AI data centers on Earth are hitting a wall, not a chip wall, a physics wall. They need staggering amounts of power and water just to stay cool, and we're running out of grid and land to build them. So Musk's answer is: stop building them on Earth. In orbit, the sun never sets. Free power, 24/7. No water for cooling, you just radiate heat into the vacuum of space. The two things choking AI on the ground barely exist up there. And here's the wild part: Musk says it's easier to build than a Starlink satellite. Strip out the complex antennas and it's "a lot of solar cells, a radiator, and some laser links." One AI1 carries the compute of an Nvidia GB300 rack, the same hardware data centers fight over down here. AI1 is just the first one. The plan is a constellation of up to a million of them. And the timing isn't an accident, SpaceX goes public this week at a ~$1.75 trillion target. This isn't a rocket company anymore. It's positioning itself as the power grid for AI, in space. The race for AI compute just left the planet. Literally. @SpaceX
Anthropic's applied AI team just showed how to actually prompt Claude properly. 24 minutes. free. from the people who built it. watch the workshop. bookmark it. you've been prompting Claude for months without the 6 elements. I built a skill that applies them for you. read the guide below.
⚡️The American university system is the largest wealth transfer from the young to the old in human history and nobody frames it that way because the people who benefit from it control the framing. Eighteen year olds who can’t legally buy a beer are signing six figure debt obligations to institutions that face zero accountability for outcomes. The loan is non-dischargeable in bankruptcy. The university gets paid regardless of whether the student gets a job. The incentive structure is pure extraction. Get them in. Get the money. What happens after is their problem. 43% underemployment isn’t a failure of the students. These kids did exactly what they were told. Study hard. Get good grades. Go to college. Get the degree. They followed the script perfectly and the script was a lie. Not a lie that anyone intended maliciously at first. But a lie that became profitable enough that nobody corrected it even after the data made it obvious. The people who designed this system, the administrators pulling $500k salaries, the tenured professors teaching subjects with zero market application, the loan servicers collecting interest on degrees in fields that haven’t produced a living wage in twenty years. None of them are underemployed. They’re doing fine. The 43% is subsidizing their comfort. Now add AI. The entry level professional jobs that justified the debt are the first ones being compressed. Not blue collar work. Not trades. The exact white collar knowledge work positions that the degree was supposed to unlock. Legal research. Financial analysis. Consulting grunt work. Content production. The 43% who are already underemployed are about to be joined by a significant chunk of the 57% who thought they made it. The people who will come through this are the ones who figured out early that the credential was a trap. The ones who built skills instead of collecting letters after their name. The ones who found asymmetric paths. The ones who created value directly instead of waiting for an institution to certify them as valuable. The university system had a real function once. It produced genuine education and genuine opportunity. That function has been hollowed out by decades of misaligned incentives until what remains is mostly a financing operation that happens to have classrooms attached. And 43% of its recent customers just confirmed with their own lives that the product doesn’t work.
43% of young US grads are underemployed, per Bloomberg.
Elon Musk thinks the entire education system is built on a broken assumption. That every student should learn the same thing. At the same speed. In the same order. At the same time. Musk: “Everyone goes through from like 5th grade to 6th grade to 7th grade like it’s an assembly line. But people are not objects on an assembly line.” The model was designed for a factory economy. Standardized inputs. Predictable outputs. That economy is gone. The assembly line is gone. But the education system still runs on its logic. A student who masters algebra in two weeks sits through eight more weeks because the calendar says so. A student who struggles gets dragged forward because the schedule doesn’t wait. Neither is being served. Both are being processed. Musk: “Allow people to progress at the fastest pace that they can or are interested in, in each subject.” AI doesn’t teach a classroom. It teaches a student. One at a time. Every time. It skips what a student already knows. It finds where they’re stuck and approaches it from a different angle. It adjusts in real time. Not at the end of a semester when the damage is already done. A student obsessed with basketball learns fractions through shooting percentages. A student who builds in Minecraft learns geometry through architecture. The subject doesn’t change. The entry point does. No teacher with thirty students can do this. Not because they lack skill. Because the math doesn’t work. AI doesn’t have that constraint. Musk: “You do not need to tell your kid to play video games. They will play video games on autopilot all day. So if you can make it interactive and engaging, then you can make education far more compelling.” The brain isn’t broken. The format is. Kids learn complex systems and strategic thinking for hours voluntarily. Then walk into a classroom and can’t focus for twenty minutes. That’s not a discipline problem. That’s a design problem. Musk: “A university education is often unnecessary. You probably learn the vast majority of what you’re going to learn there in the first two years. And most of it is from your classmates.” Four years. Six figures of debt. And the real value comes from the people sitting next to you. Not the institution charging you. The degree doesn’t certify knowledge. It certifies endurance. Musk: “If the goal is to start a company, I would say no point in finishing college.” The system was built to train employees. If you’re not trying to be one, it has nothing left to offer you. Every lecture. Every textbook. Every curriculum. Now available instantly. Personalized to any learner. Adapted to any pace. The question isn’t whether the old model survives. It’s how long we keep forcing students through it while the replacement already exists.
@shaneparrish @davis_advisors I was fortunate enough to receive one of those copies and have been enjoying it very much! @shaneparrish
@rogerwaters @NickSzabo4 Got it a little mixed up there, Roger. Maybe just have a seat and write a song or something…
In December 2025, former US Senator @BenSasse announced that he had been diagnosed with stage 4 pancreatic cancer. That's the primary topic for this @UncKnowledge conversation about mortality, faith, and what truly matters when time is short. Talking to host @P_M_Robinson, Sasse reflects on "redeeming the time"—holding ambition lightly, loving family more deliberately, and resisting the urge to make politics or professional success the center of life. The discussion also covers Sasse's thoughts on the failures of Congress; the dangers of a fragmented, attention-starved republic; the crisis of higher education; and the moral challenges of technological abundance. He speaks candidly and movingly about regret, forgiveness, prayer, and suffering—arguing that while death is a real enemy, it does not get the final word. Watch the full conversation on X:
The average bear market lasts 289 days. The average bull market lasts 991 days. Optimism has always been the better bet.
WALMART 1970 IPO. Offered at $16.50 a share. Hold one share through all the splits… Today, you'd have 6,144 shares worth $722,889. 21% per year. For 55 years. And you'd be collecting $5,776 a year in dividends.
A dollar invested in 1950 became: $4,125 in stocks $151 in gold $61 in real estate $30 in bonds Congrats to gold, real estate, and bonds on participating.
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