Here is the "Prison Mike" scene from The Office Japanese Dub.

Suggesting Hipkins should fire Kerrin Leoni for speaking at an event gang members were at is outrageous. Journalists suggesting this should happen are creating news not reporting it @rnz_news

Everyone talks about what AI will do. But almost nobody asks who will pay for the machines. Taking advantage of AI will require an extraordinary amount of capital, from data centers to new power plants. Will that capital be around? I try to address that question in the first draft of my new paper “Saving for the Machines.” To show how important capital is to fuel the transition to an AI-based economy, I document how the same technology path that generates 11.7% annual growth when households choose their saving rate optimally delivers only 2.2% when the saving rate remains fixed. In other words, if we experience slow growth over the next few years despite fast improvements in AI, this slow growth may reflect too little capital accumulation instead of a technological bottleneck. The key to this result is that AI raises the capital share by moving tasks from labor to machines, which requires that those machines are built. In comparison, ordinary technical progress makes labor and existing machines better at the tasks they already perform. To inspect the mechanism, I start from an accounting identity: the saving rate is the capital share times the ratio of investment to capital income. If I take the evolution of the capital share as given, I can ask how much the latter ratio moves in response to that evolution. Crucially, with an optimizing household, this ratio barely moves. As machines take over tasks and the return to capital rises, the household responds by letting consumption grow faster, by the intertemporal elasticity of substitution times the rise in the return. To pay for that faster consumption, capital must also grow faster by the same amount. So, the household keeps investing about the same fraction of what the machines earn. And since machines earn a larger share of output, the saving rate also goes up. With a fixed saving rate, the same accounting identity tells me the opposite: the ratio falls in proportion as the capital share rises. Will the U.S. and other advanced economies then generate enough capital? For many reasons, I doubt it. We might end up in a situation where many of the opportunities offered by AI are left on the table. This is particularly important for all who think that AI might get us out of many problems, such as fiscal troubles (like in France) or ultra-low fertility. We need to save for the machines, and it is not clear we can do that. Anyway, this paper has been long in the making (many months of hard work), but I have learned much from it. In particular, working through the model changed my mind about many issues related to AI. Again and again, my intuition said X, but the math said Y. And math always won in the end. That is why we write formal models. A nice example is Proposition 5, whose proof is the one I like the most in the paper. With improving machines and strong task complementarity, there is no fixed balanced growth path because the target itself keeps moving. The nice part of the proof is to realize that, after the right normalization, the moving target becomes a fixed point, and the saddle gets steeper as machines improve. So instead of falling behind, the economy tracks the moving BGP more and more closely. A fair amount of ODE work to get there, but a very simple economic idea underneath it once you get it. The paper is here: sas.upenn.edu/~jesusfv/Savin… and the slides are here: sas.upenn.edu/~jesusfv/Slide…

A GENTLEMAN’S PRIMER ON SHORTING INSOLVENT SHITCOS So you’ve found a ShitCo. It’s such an ugly zombie it couldn’t be an extra in season 19 of The Walking Dead But it’s still got a $185m cap And you want to be the one to mung the last rancid, putrefying drops out of that corpse

And on github: github.com/Parcha-ai/agentru…

Picture a 50-year-old bloke laid off after 20 years in the same job at the mill in Tokoroa . The town's biggest employer. He's already gutted to be sitting in Work and Income. Next thing, he's having to Mimi in a cup whilst a stranger watches.

Doing a land acknowledgment in Germany is so funny

I very much like the @NZFreeSpeech letter to Kiwibank and its lawyers, and will be interested to see what answer they get back. Particularly on whether they appropriately considered fair use before issuing DMCA take-down notices. fsu.nz/publications/open-let…

I am one of those New Zealanders who is randomly tested. The rationale is safety because we work around or operate machinery, heavy items and vehicles. Our office staff aren't tested. What sort of similar safety risks are beneficiaries encountering day to day?

#お前らの大ピンチをみたい これエアバック出てたら廃車にしてた

Dangerous question for American architects 🚪 When a Japanese person enters a public restroom in Tokyo, the stall door goes from ceiling to floor. The gap between the door and the frame is zero millimeters. You could launch a submarine in total privacy. Then I entered an airport restroom in the United States. The stall door stopped fourteen inches above the floor. But far worse was the vertical gap between the door and the frame. A full half-inch gap. I sat down, and through that crack, I made direct, uninterrupted eye contact with a man waiting in line for the sink. We both pretended it didn't happen. It did happen. America landed astronauts on the moon in 1969. Why have you not figured out how to make bathroom stall doors that meet the wall? Is there a reason for this gap, or has everyone just accepted eye contact as part of the public experience? 😳

Anybody who thinks that passports are an impediment to Trans Tasman flights doesn't fly often. 30 seconds at each end for a passport check is not an issue. What is an impediment for travel is the ~$320 of taxes and service charges that goes straight to Governments and airports.

Greens leadership votes: Shoebridge 6 Faruqi 3 SHY 2 After preferences Shoebridge 7 Faruqi 4 Deputy Leader Hodgins-May 6 Bleyer 3 JSJ 2 #auspol @SBSNews

A Flock of Altruists - Hit The Breaks Except For Me