Item #1: Interesting article by Sebastian Jensen, “Life doesn’t end at 22 or start at 35”.
Most extremely successful entrepreneurs and game developers started when they were young and found success soon after doing so. Many even based their projects on ideas they had when they were younger.
Success didn’t come fast. I spent my 20s trying to figure things out. It wasn’t until later I became much more successful by applying these accrued skills. I have always been good at ‘figuring things out’, but unlike being good at sports, it’s not the sort of thing where it’s easy to stand out or is rewarded early in life. Being older meant more free time and options to try things.
Item #2: Bitcoin crashes as Galaxy Digital CEO Michael Novogratz Sells $1 billion.
If you’re still not convinced crypto is run by scammers, 2 days ago here you have Michael Novogratz CEO of Galaxy Digital promising Bitcoin will go to $150k, and then a couple nights ago he dumped $1 billion of Bitcoin, causing the price to crash 3%. I was short, so I profited a lot, while also long tech stocks. These people know it’s a bubble and need a continuous supply of new participants to sell to.
As I said last week, there are far fewer lost Bitcoin than commonly assumed. Bitcoin will continue to fall as old holders activate and unload their dormant wallets in the coming months. If a $1 billion sale is enough to cause the price to fall $3k, a simple calculation shows that around $18 billion of liquidity can be extracted from Bitcoin until the price goes to zero. Given a market cap of $2 trillion, this means about 99% of investors will be left holding the bag if this collapses.
Item #3: Bondi Told Trump His Name Appeared in Epstein Files.
Of course Trump is in the files being that he was close with Epstein. Nothing new here. As I said this week, there will be no closure on Epstein. No one will ever know to the full extent what happened or everyone who was involved. Transparency is not an option because the stakes are too high and it’s an ongoing investigation. But she continues to insult the intelligence of the public by giving these lame excuses. Trump needs to fire her.
Item #4: From Jeremiah Johnson, You don’t care about politics. You have a politics hobby.:
Far too many of us engage with politics in the same way we’d engage with the Real Housewives or the Los Angeles Dodgers. We cheer for the good guys, boo and hiss at the bad guys, we love following the day-by-day drama of who’s doing what, and we hope our favorites end up succeeding. I’m sure that there are some folks out there doing the real work, but I’m equally sure that most of us are fundamentally divorced from the actual practice of politics. Most of us are hobbyists.
Although his article is addressed to liberals, it applies to both sides. Activists played some role in getting Trump elected, although it’s hard to estimate how much. But activism tends to be less effective for right-wing causes. Instead, change comes from a sort of cascade effect of events and vibe shifts, like how wokeness inexplicably peaked in 2022 without forewarning. It happened all at once.
In 2020-2021 everyone was changing their social media avatars to ‘fist pumps’ or wearing masks, and then in 2022 everyone at once grew tired of it. This was while Biden was in office, so it’s not like it had to do with Trump. Or it requires a significant push by an individual, like Elon Musk buying out Twitter in 2022 for $54 billion, which goes far beyond what any ordinary individual is capable of doing. BLM was undone by scandals and technological change, such as the widespread adoption of police bodycams, which refuted common narratives about police racism that showed that deadly force was justified.
Item #5:
I keep seeing this same response from different people every time I post about the unemployment rate for young college grads. It’s just not accurate anymore. The majors with the highest unemployment rates now include computer science & engineering. The same fields that Zoomers… https://t.co/CpOwTVXLPA pic.twitter.com/lqrGDwas17
— Christina Pushaw 🐊 🇺🇸 (@ChristinaPushaw) July 23, 2025
This is pretty dumb. Computer science majors still earn a lot more, which offsets the higher unemployment rate. Second, this can be explained by a longer hiring process, such as lengthy interviews. In contrast, government jobs typically do not have as rigorous of a hiring process, which can explain the lower unemployment rate for the other STEM majors. [It’s not like an aerospace engineer is going to be applying to Google.] Third, there is a lag effect from the post-Covid 2022 tech mini-crash. Also, the humanities major will settle for a barista job, for example. There is also a lot of noise in the data.