Forbes is a recurring publication in the Astral Codex Ten archive, appearing 7 times across 7 issues between February 22, 2022 and January 13, 2026. The archive places it in contexts such as "this Forbes article claiming the end of the Internet as we know it in 2012"; "I published an article for Forbes about the homeless crisis"; "after I published an article for Forbes about the homeless crisis". It most often appears alongside China, California, Economist.
- Article page
- Forbes
- Mention count
- 7
- Issue count
- 7
- First seen
- February 22, 2022
- Last seen
- January 13, 2026
Outbound links
- https://en.wikipedia.org/wiki/Be_language
- https://firstthings.com/jd-vance-states-the-obvious-about-ordo-amoris/
- https://www.forbes.com/sites/investor/2012/09/13/the-end-of-the-internet-as-we-know-it/?sh=6734848a6f6a
- https://www.forbes.com/sites/ninabambysheva/2024/07/31/meet-the-26-year-old-building-a-billion-dollar-prediction-marketplace/
- https://www.rethink.org/advice-and-information/living-with-mental-illness/medications/what-is-cobenfy-also-known-as-karxt-or-xanomeline-trospium/
Issue trail
Related pages
Source context
I wonder how a prediction market at the time would have priced the claim “five years from now, a majority of people will agree that the Internet as they knew it ended in 2017 with the repeal of net neutrality”. Also - in the process of confirming that this headline was real (it was) I found this Forbes article claiming the end of the Internet as we know it in 2012 (I think it was about 10% of the way to being right, insofar as some news sources do have paywalls now), and this Wired article warning that a 2014 case on Net Neutrality “could lead to fracturing of the singular internet into a multiplicity of sub-nets and to an all-out negotiation battlefield with global ramifications”.
Inline links: this Forbes article, this Wired article
The Moscone Center is 2 million square feet and can fit about 10,000 people. Not to be confused with the Moscone Recreation Center, Moscone Station, or Moscone Elementary School. Meanwhile, all Dianne Feinstein got was one lousy elementary school and the Tithonus package of eternal life without eternal youth. Claim 8: The Intolerant Left Shuts Down Debate On These Issues Another one that’s probably hard to do a randomized controlled trial on. You could probably predict that this one was coming - it’s a necessary narrative beat in this genre of book. I think this beat is good. My impression is that people who aren’t themselves public figures disagreeing with left-wing ideas still don’t understand how scary it is and how much hate you get. Maybe now that 2/3s of every political essay written over the past five years is about this topic, people will finally get it through their thick skulls that it exists and is bad. I would also note that “traumatizing the sorts of people who write popular books about politics, in a such a way that they feel compelled as a sort of self-therapy to write page after page telling readers how angry they should be at you and your whole coalition” isn’t great political praxis. I would like people to figure this out and stop doing it. Anyway, Shellenberger is doing his part in this effort: In 2001, the San Francisco Coalition on Homelessness wheat-pasted posters of a fake front-page San Francisco Chronicle across town. Just beneath the masthead a large headline read “Fuck the Homeless!” right above a picture of San Francisco mayor Willie Brown laughing. Below his photo was the headline “Save the Tourists.” Progressives level the same charges at people thirty years later. “Because of some of the stuff I say,” said a community activist in Seattle’s historically black Capitol Hill neighborhood, “people say, ‘Oh, she’s not for them.’ But I have a heart for homeless and mentally ill. Most of my family works with the mentally ill.” Noted a Chronicle journalist in 2017, “Inevitably, homeless advocates and others will say, ‘You’re not compassionate,’” in response to stories about homeless encampments. “They called me a racist,” said Tom. “They accused me, a guy who used to be homeless, of demonizing the homeless, because I’m asking for accountability.” I found myself similarly accused. In 2019, after I published an article for Forbes about the homeless crisis, a progressive homeless activist accused me on Twitter of having written my article to “make money off of a fear tactic” of “fueling hatred [and] even increasing violence against homeless people.” After I asked the former San Francisco supervisor for the Tenderloin neighborhood, former mayoral candidate Jane Kim, how such a progressive city ended up with so much suffering, she said, “My concern, Michael, just to be very honest, is that when that kind of messaging goes out, violence against people who are unhoused goes up.” […] I soon discovered in my research that I was hardly the first person that progressive elected officials and homelessness advocates had accused of fomenting violence against unhoused people. Many others had been criticized for far worse over the years, including San Francisco’s highest elected officials. “The criticism [by progressive homelessness advocates] was heavy, political and personal,” wrote former mayor Willie Brown in his 2008 memoir. “People accused me of abandoning the problem when I was working daily to try and get a solution going. It was brutal. . . . I had become demonized, and my own efforts belittled.” It is notable that the result of such personal attacks is to frighten off people seeking to change, and perhaps improve, the situation. “The problem” of homelessness, concluded Mayor Brown within nine months of entering office, “may not be solvable.” And [Quoting Chris Rufo]. “The chief of psychiatry in a public hospital system in one of the largest California cities told me, ‘I know for a fact, and all of my colleagues know, that what we actually need to deal with the problem in the biggest cities in California is long-term residential secure psychiatric care. But I can’t say that publicly because I would be disemboweled by the activist left. My job would be in jeopardy. My reputation would be in jeopardy. My whole life would get turned upside down for even broaching the subject of expanding secure mental health facilities and compulsory mental health treatment.’ And I said, ‘So what’s the solution?’ and this person said, ‘We muddle through.’” And: In San Francisco, radical left activists protested [African-American] Mayor London Breed in front of her home. Breed said the protesters were “all white people. But that didn’t bother me as much as the taunting of me coming outside with firework torches in their hands looking like what used to happen when the KKK would show up to black people’s houses to burn their houses down.” While I was reading the book, I came across this tweet, which suggests that being unimpressed with SF’s lefty homeless activist scene is not limited to Michael Shellenberger: Claim 9: European Cities Like Amsterdam Successfully Solved Their Own Drug And Homelessness Problems By Doing The Opposite Of SF Shellenberger bases his plan to solve these problems on ideas that he says were pioneered in Amsterdam and spread to other European cities. In the 1980s, Amsterdam had the kinds of problems San Francisco deals with now: open-air drug markets, overdose deaths, homelessness, and crime. But in the 90s, they admitted they had a problem and took decisive action: What’s the secret?” I asked him. “Amsterdam has decriminalized marijuana and many other drugs but I haven’t seen any homeless. What is San Francisco doing wrong?” Rene said that in the 1980s, the Zeedijk neighborhood in Amsterdam was a lot like the Tenderloin [the worst part of San Francisco] today. There was open-air drug use, particularly of heroin, and needles strewn about, as well as crime. People started to flee the neighborhood, worsening its slum conditions. Homeless people squatted in abandoned buildings. “We had ghettos where it was not safe to go,” said Rene, who started working in the neighborhood as a nurse in 1985. It was considered a “no go” zone. “We had a lot of people from abroad who came to Amsterdam because our heroin was so good. But our heroin was so good that they died from it.” At first the city tried a “helping approach” exclusively, offering addicts clean needles, methadone, and other forms of help without any law enforcement, but it didn’t work. “In the eighties we just wanted to help people,” said Rene. “We started with methadone programs and medical treatment. We did a lot of work without much of a carrot and a stick. It was really a disappointment. They just used the methadone to stay addicted. They dealt drugs and committed other crimes. They lied and cheated about it. We were just supporting a different kind of market. We had to learn the hard way [...] The Amsterdam City Council asked the Amsterdam Municipal Health Service to develop a strategy to deal with “unmotivated drug users”...The police broke up the open-air drug scene and health workers were on hand to offer methadone, treatment, and shelter. The police broke up gatherings of more than four or five users, but did not treat personal and private use as a crime. Officers ticketed violators, and if users did not pay their fines, which was frequent, the courts ordered arrests, and sentenced individuals to follow a treatment plan or face incarceration. “For every individual homeless person, we make a plan,” said Rene. “We made tens of thousands of those plans.” Plans are overseen by a caseworker and a team that may include a psychiatrist, shelter provider, service provider, judge, employer, parole officer, and police officer. “You need people in the police and health department working together,” he said. What Amsterdam did was the same as other major European cities. Lisbon, Frankfurt, Vienna, and Zurich all dealt with their open-air drug markets, using a combination of law enforcement and social services. Crucially, Amsterdam and other European cities prevented services from being concentrated in a single neighborhood, since their concentration often enables an open-air drug scene to thrive [...] The efforts worked. “We had several thousand people who were addicted to heroin in the eighties and nineties,” said Rene. “Many died. Today we have four or five hundred people addicted to methadone. And we have about 120 in Amsterdam who we supply heroin to on a medical basis because methadone doesn’t work for them. They have to use heroin.” The Amsterdam strategy goes something like: Break up open-air drug markets and anywhere that more than 4-5 drug users are congregating. Yes, people can just use their drugs in private, but this is legitimately better. Open-air markets normalize drugs with their blatantness, and make it hard to quit for the same reason it’s hard to diet if your partner leaves boxes of donuts out in the house every day.
Attorney General Schneiderman tried to leverage his study into a lawsuit against supplement manufacturers. He got a lot of pushback, with even anti-supplement scientists coming out against his data (1, 2). GNC, one of the companies that failed the original study, sent the same supplements to a respected third-party lab, who said all of them seemed totally fine. The end result of the lawsuit seemed inconclusive to me - GNC agreed to test its products better, and the Attorney General declared victory - but people who know more about law and the industry suggest this was a face-saving measure allowing the Attorney General to gracefully retreat. The Forbes article was Supplement Companies Sitting Pretty After AG’s Blunder.
4: Pseudonymous accelerationist leader “Beff Jezos” was doxxed by Forbes. I disagree with Jezos on the issues, but want to reiterate that doxxing isn’t acceptable. I don’t have a great way to fight back, but in sympathy I’ve blocked the journalist responsible (Emily Baker-White) on X, will avoid linking Forbes on this blog for at least a year, and will never give an interview to any Forbes journalist - if you think of other things I can do, let me know. Apologists said my doxxing was okay because I’d revealed my real name elsewhere so I was “asking for it”; they caught Jezos by applying voice recognition software to his podcast appearances, so I hope even those people agree that the Jezos case crossed a line.
Inline links: was doxxed by
Even a 1% fee on all this trading would make Polymarket a lot of money. But they . . . don’t really seem to charge fees? According to Forbes (paywalled):
Inline links: Forbes (paywalled)
9: Meta has spent $50 - 70 billion on the metaverse over the past five years. For context, that’s about the GDP of Cambodia, or 1/5 the inflation-adjusted cost of the Apollo Program. Forbes has an update on the state of the technology as of this February: “Looking at . . . the current state of Meta’s VR universe, it is absolutely impossible to imagine a world where this kind of thing is ever going to succeed.”
Inline links: has spent $50 - 70 billion, has an update
23: Ethan Strauss on the controversy around A’ja Wilson’s WNBA sneaker. It’s a standard wokeness fight, but inadvertently offers a lens into the crazy world of basketball sneaker and people who care way too much about them. Did you know 32 active NBA players have their own sneaker lines? Or that some NBA shoe endorsement deals run into the 9 digits, with top basketball players making more money from sneakers than from the salaries? Or that sneaker deals going to the “wrong” player garners a level of outrage I usually associate with major geopolitical conflicts?
If America nation-builds Venezuela, for whatever definition of nation-build, will that work well, or backfire? Some of these are long-horizon, some are conditional, and some are hard to resolve. There are potential solutions to all these problems. But why worry about them when you can go to the moon on sports bets? Annals of The Rulescucks The new era of prediction markets has provided charming additions to the language, including “rulescuck” - someone who loses an otherwise-prescient bet based on technicalities of the resolution criteria. Resolution criteria are the small print explaining what counts as the prediction market topic “happening'“. For example, in the Khameini example above, Khameini qualifies as being “out of power” if: …he resigns, is detained, or otherwise loses his position or is prevented from fulfilling his duties as Supreme Leader of Iran within this market's timeframe. The primary resolution source for this market will be a consensus of credible reporting. You can imagine ways this definition departs from an exact common-sensical concept of “out of power” - for example, if Khameini gets stuck in an elevator for half an hour and misses a key meeting, does this count as him being “prevented from fulfilling his duties”? With thousands of markets getting resolved per month, chances are high that at least one will hinge upon one of these edge cases. Kalshi resolves markets by having a staff member with good judgment decide whether or not the situation satisfies the resolution criteria. Polymarket resolves markets by . . . oh man, how long do you have? There’s a cryptocurrency called UMA. UMA owners can stake it to vote on Polymarket resolutions in an associated contract called the UMA Oracle. Voters on the losing side get their cryptocurrency confiscated and given to the winners. This creates a Keynesian beauty contest, ie a situation where everyone tries to vote for the winning side. The most natural Schelling point is the side which is actually correct. If someone tries to attack the oracle by buying lots of UMA and voting for the wrong side, this incentivizes bystanders to come in and defend the oracle by voting for the right side, since (conditional on there being common knowledge that everyone will do this) that means they get free money at the attackers’ expense. But also, the UMA currency goes up in value if people trust the oracle and plan to use it more often, and it goes down if people think the oracle is useless and may soon get replaced by other systems. So regardless of their other incentives, everyone who owns the currency has an incentive to vote for the true answer so that people keep trusting the oracle. This system works most of the time, but tends towards so-called “oracle drama” where seemingly prosaic resolutions might lie at the end of a thrilling story of attacks, counterattacks, and escalations. Here are some of the most interesting alleged rulescuckings of 2026: Mr Ozi: Will Zelensky wear a suit? Ivan Cryptoslav calls this “the most infamous example in Polymarket history”. Ukraine’s president dresses mostly in military fatigues, vowing never to wear a suit until the war is over. As his sartorial notoriety spread, Polymarket traders bet over $100 million on the question of whether he would crack in any given month. At the Pope’s funeral, Zelensky showed up in a respectful-looking jacket which might or might not count. Most media organizations refused to describe it as a “suit”, so the decentralized oracle ruled against. But over the next few months, Zelensky continued to straddle the border of suithood, and the media eventually started using the word “suit” in their articles. This presented a quandary for the oracle, which was supposed to respect both the precedent of its past rulings, and the consensus of media organizations. Voters switched sides several times until finally settling on NO; true suit believers were unsatisfied with this decision. For what it’s worth, the Twitter menswear guy told Wired that “It meets the technical definition, [but] I would also recognize that most people would not think of that as a suit.” Domer: Will Ukraine agree to the US mineral deal? AFAICT, this is the only case where the oracle genuinely broke down (as opposed to a legitimate disagreement). In February, it looked like both America and Ukraine had agreed to a mineral deal, but the oracle considered the question and decided this didn’t count as a full agreement (and indeed, the apparent agreement then fell apart). In March, a cabal of YES holders tried again. They waited for a time when all Polymarket employees would be out of the office, and when not too many people would be voting on the decentralized resolution oracle, then spammed it with calls to resolve to YES based on an argument that the February agreement had qualified after all. The YES holders and not-particularly-plugged-in oracle voters pushed the vote towards YES. Then, with two minutes to spare, a Polymarket employee showed up and said that Polymarket’s opinion was that it should be NO. This was technically framed as a recommendation to oracle voters, but it is so effective in establishing the Schelling point that it’s practically always followed. However, in this case, there were only two minutes left, which wasn’t enough time for the voters to change their mind. Seeing that the resolution was trending towards yes, the Polymarket representatives, not wanting to break their streak of always establishing the Schelling point, changed their own opinion to YES, and the final vote was YES 99%. Domer: How many people watched the Oscars on 3/5/25?: Kalshi’s resolution criteria for this market said they would resolve it when a major news source published Oscar viewership numbers. A few minutes after the Oscars, NYT published preliminary viewership numbers, without any caveats saying they were preliminary. The next day, they published another article saying that actually, the real viewership numbers were higher. Kalshi decided that the letter of the resolution criteria was met when NYT published its first article, and that NYT changing its opinion didn’t imply that Kalshi should change the resolution. Traders who bet on the later (ie correct) numbers were unsatisfied with this decision. NYPost: Will America invade Venezuela? On January 3, the US bombed Venezuela, sent in a Special Forces team that successfully captured President Maduro, and announced that they would thenceforward “run the country” (a claim they later walked back). Does this qualify as an “invasion”? Polymarket’s resolution criteria defined “invasion” as “a military offensive intended to establish control over any portion of Venezuela”. It didn’t seem like the US was trying to establish control over Venezuelan territory, exactly, so they resolved NO. Traders who bet on YES were unsatisfied with this decision. With one exception, these aren’t outright oracle failures. They’re honest cases of ambiguous rules. Most of the links end with pleas for Polymarket to get better at clarifying rules. My perspective is that the few times I’ve talked to Polymarket people, I’ve begged them to implement various cool features, and they’ve always said “Nope, sorry, too busy figuring out ways to make rules clearer”. Prediction market people obsess over maximally finicky resolution criteria, but somehow it’s never enough - you just can’t specify every possible state of the world beforehand. The most interesting proposal I’ve seen in this space is to make LLMs do it; you can train them on good rulesets, and they’re tolerant enough of tedium to print out pages and pages of every possible edge case without going crazy. It’ll be fun the first time one of them hallucinates, though. …And Miscellaneous N’er-Do-Wells I include this section under protest. The media likes engaging with prediction markets through dramatic stories about insider trading and market manipulation. This is as useful as engaging with Waymo through stories about cats being run over. It doesn’t matter whether you can find one lurid example of something going wrong. What matters is the base rates, the consequences, and the alternatives. Polymarket resolves about a thousand markets a month, and Kalshi closer to five thousand. It’s no surprise that a few go wrong; it’s even less surprise that there are false accusations of a few going wrong. Still, I would be remiss to not mention this at all, so here are some of the more interesting stories: Fhantombets: Who will win the 2025 Nobel Peace Prize? Twelve hours before the announcement, someone placed a large Polymarket bet on Venezuelan opposition leader Maria Corina Machado, bringing her probability from 4% to 73%. When Machado later won, observers suspected insider trading. But an account named fhantombets claims to have interviewed the winning trader; although he did not reveal his exact strategy, the interview better matches a story where he was good at navigating WordPress directories, and found that the Nobel team put a draft of the announcement up early in a nonpublic part of their WordPress site. He won about $70,000. LuishXYZ: Will the Russians capture Myrnohrad? This is a small town in Ukraine that the Russians obviously were not going to capture; the Polymarket price trended toward zero. The resolution criteria named maps by the well-regarded Institute For The Study of War as canon. A few hours before resolution, ISW updated their maps to show the the town captured by Russia, which was definitely false. Polymarket resolved to YES, and the fictional Russian advance disappeared. The Institute then issued a statement saying the map update was “unapproved”, and fired one of its staffers who had presumably been involved. The cheater’s exact winnings are unknown, but based on the size of the market are probably mid-6-digits. TechCrunch: What words will be used in Coinbase’s earnings call? Coinbase CEO Brian Armstrong delivered the company’s “earnings call”, ie a speech to investors about its recent progress. At the end, he said “I've been tracking the prediction market about what Coinbase will say on their next earnings call, and I just want to add here the words Bitcoin, Ethereum, Blockchain, Staking, and Web3 to make sure we get those in before the end of the call”. Armstrong is worth $10 billion and doesn’t need to manipulate a $50,000 market for the money - he later described his comments as “trolling”. Other crypto executives condemned the move, with one saying that “you need your head examined if you think it’s cute or clever or savvy that the CEO of the biggest company in this industry openly manipulated a market.” I might need my head examined, because I think it’s at least kind of funny. Forbes: Who will rank highest on Google Search volume this year? A trader called AlphaRaccoon got 22/23 of these Polymarket questions right, and has a history of implausibly good performance on Google-related questions. They basically have to be a Google insider, but (since all of this is done through crypto) nobody has a good way to figure out who. They made $1 million. NPR: Will Maduro be captured? Just before the secret operation that captured Maduro, someone placed a mysterious $32,000 wager on YES. Was this insider trading by someone in the administration or military? Nobody knows, since the profits go to an anonymous crypto wallet. But the article mentions that the crypto wallet appears to be cashing out through regulated KYC-compliant US exchanges, which suggests they’re not very worried about their identity getting discovered. Maybe they just got lucky after all. AlanMCole: How long will Karoline Leavitt speak at the White House briefing? Karoline Leavitt is Trump’s press secretary. On January 7, she held an ordinary press briefing. Kalshi had its usual market about how long the briefing would last, divided into bins of greater than vs. less than 65 minutes. At the 64:24 mark, Leavitt ended the conference in what appeared to be a sudden manner, and the “less than 65 minutes” bin shot from 2% to 100%. A viral tweet convinced many people that Leavitt must have been insider trading, but Cole counterargued that Leavitt could only have won about $4,000 from the market, which probably isn’t enough to risk one’s job as White House Press Secretary. Sometimes people just end press conferences at weird times. Cole concluded: Now, some opinions and generalizations, as someone who looks at prediction markets plenty (I’ll probably write something about my own experience with them at some point.) 1. This market, like many of them, is pretty stupid. I like substantive markets; this isn’t substantive. 2. The major prediction markets have a wildly undisciplined comms strategy where any attention is good attention, and they love implying all sorts of crazy wild west stuff is going on to get attention. 3. People do bet on things potentially subject to manipulation or insider trading. But usually the markets like that (such as duration of press conference, or stupid “what will be mentioned” markets) are small, especially relative to the wealth of key decisionmakers. 4. Losers in markets are huge whiners, and the more frivolous and tiny their bets, the more likely they are to whine. Sometimes in sports it’s pretty egregious. They’ll get mad at a team for running out the clock when ahead but under some spread they bet on. 5. Lower-quality financial news often doesn’t pay much attention to quantity. (For example, dumb stories about how a decisionmaker has a conflict of interest because they’re invested in an index fund which is 3 percent comprised of some company.) 6. Given the platforms’ undisciplined social media strategy of “promote prediction market chatter no matter what kind of chatter it is,” I don’t think this tweet rises even to the status of “lower-quality financial news.” Kalshi’s team, whatever their faults, are extraordinarily efficient at getting batched approvals of many near-identical markets with slight parameter variation; I’ve seen Tarek speak about this on Odd Lots. The result is they’ve got TONS of them, for better or worse. You’re gonna see 1-in-100 upsets on tiny Kalshi markets for as long as this regulatory equilibrium holds, even if nothing unusual is going on, simply because they’re publishing hundreds (thousands?) of markets per day. There’s a saying that you can’t con an honest man. This isn’t exactly true. But it’s easier to con people who are playing in a “what words will Brian Armstrong say today” market than people who are trying to do something useful, and I have trouble feeling sorry for these people when Brian Armstrong says silly words. Conditional Markets: A Modest Proposal Conditional markets (“decision markets”) are the strongest case for prediction markets potentially being revolutionary. The idea is - you may want to base a decision (like which candidate to elect) on an outcome (like how they’ll affect the economy). So you make two markets: If the Democrat gets elected, will the economy be good four years later?
Inline links: UMA Oracle, Keynesian beauty contest, Will Zelensky wear a suit?, calls this, told Wired, Will Ukraine agree to the US mineral deal?, How many people watched the Oscars on 3/5/25?, another article, Will America invade Venezuela?, stories about cats, Who will win the 2025 Nobel Peace Prize?, claims, Will the Russians capture Myrnohrad?, a statement, What words will be used in Coinbase’s earnings call?, described, Who will rank highest on Google Search volume this year?, Will Maduro be captured?, How long will Karoline Leavitt speak at the White House briefing?