long degeneracy - by jez - oldcoin bad, newcoin good

long degeneracy is a mental model, centered around hypergambling. in the author’s words, long degeneracy represents “a belief that the world will only get more degenerate, financialized, speculative, lonely, tribal and weird”. the most concise and holistic explanation of this trend is: as real returns compress, risk increases to compensate. the reasons explored below are varied and intertwined, but hopefully after finishing this article you, the sophisticated reader, will return to this statement and nod wisely. South Korea is the canary in the coal mine. it has high inequality and low social mobility - meaning once you’ve sorted to the wrong end, you’re stuck. this drives the insane cram school culture leading up to the high school CSAT - a test so important they literally close the country. for those who do well, the prestigious national universities and a good life awaits. for those who don’t, there is no recovery. is it then any surprise that many of the world’s largest degenerates

long degeneracy is a mental model, centered around hypergambling. in the author’s words, long degeneracy represents “a belief that the world will only get more degenerate, financialized, speculative, lonely, tribal and weird”. the most concise and holistic explanation of this trend is: as real returns compress, risk increases to compensate. the reasons explored below are varied and intertwined, but hopefully after finishing this article you, the sophisticated reader, will return to this statement and nod wisely. South Korea is the canary in the coal mine. it has high inequality and low social