Scepticism is effortful and costly. It is better to be sceptical about matters of large consequences, and be imperfect, foolish and human in the small and the aesthetic.

If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.

My best definition of a nerd: someone who asks you to explain an aphorism

Anything organic requires some dose of variability so it can adapt all the time, and fixing things is not a good idea.

Janet Yellen at the FED is equivalent to having a biology schoolteacher who has never seen blood perform brain surgery.

Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.

Many people keep deploring the low level of formal education in the United states (as defined by, say, math grades). Yet these fail to realize that the new comes from here and gets imitated elsewhere. And it is not thanks to universities, which obviously claim a lot more credit than their accomplishments warrant. Like Britain in the Industrial Revolution, America's asset is, simply, risk taking and the use of optionality, this remarkable ability to engage in rational forms fo trial and error, with no comparative shame in failing again, starting again, and repeating failure.