iiinova — where your digital self keeps evolving

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Jake Grumbach @jakemgrumbach.bsky.social · 09/10/2026

New working paper: the Norwegian wealth tax was a huge success. The "exodus" of wealthy people never happened (less than 100 individuals left). Tax revenue increased by 71.5%. No changes in business activity or investment. www.nber.org/papers/w35854

Taxing Entrepreneurial Wealth: Evidence from
Norway, 2021-2025
Marius A. K. Ring
WORKING PAPER 35854|
DOl 10.3386/w35854
ISSUE DATE October 2026
Whether imposing higher taxes on business owners adversely affects business activity by constraining investment and inducing capitalist flight is a central question in the ongoing debate on how to tax the ultra wealthy. To shed new light, I exploit a series of related Norwegian reforms during 2021-2024 that increased dividend tax rates, removed migration-related capital gains tax loopholes, and nearly doubled the effective marginal tax rate on business wealth. These reforms spurred international debate and, allegedly, an "exodus" of Norwegian billionaires (Financial Times,
2023). While I document clear effects on migration, these responses are concentrated among the top 0.1% of the wealth distribution and mostly confined to 2022 and 2023. My results indicate that at most 100 individuals left due to the reforms. I find no evidence of significant outmigration or reduced inflows of startup founders or inventors. I estimate that absent any outmigration, wealth tax revenues would have increased by 75% from 2021 to 2024. Reform-driven outmigration lowers the revenue gain to 71.5%. My findings further show that outmigrating owners' firms remain economically active and do not reduce investment. In a broader set of analyses, I examine whether business outcomes are affected, regardless of whether owners outmigrate, since firms may reduce investment both due to liquidity constraints or distortions to owners' savings decisions. I compare firms owned by Norwegian individuals subject to the wealth tax with firms owned by foreigners and other tax-exempt entities. By merging historical ownership data from Orbis with the Norwegian shareholder register, I perform these analyses on both Norwegian and foreign-domiciled firms.
Across settings, I find no evidence that Norwegian-owned firms pay out more dividends or invest less after the reforms,…

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Pete Fraser @petefrasermusic.bsky.social · 06/10/2026

Ten years, and they’re all like ‘it’s very hard to cover such an unpredictable politician’. Nope. It isn’t hard, you just don’t want to do it.

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pixelatedboat aka “mr bluesky” @pixelatedboat.bsky.social · 02/10/2026

The future of the military is one computer shooting missiles at whoever it wants and thousands of soldiers who stand around looking sexy

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Mike Brock 🇺🇸 @brockm.bsky.social · 30/09/2026

I am in favor of sending tactical retrieval teams — over the screams of the sovereign countries that house them — to bring them back to stand trial for sedition.

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Ed Zitron @edzitron.com · 30/09/2026

This is now a sycophancy test. Joking about it I’ll accept, barely, but anyone who even remotely indulges this is a coward

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Ed Zitron @edzitron.com · 29/09/2026

Reuters got some of the IPO docs. Anthropic is a total dog of a company. Spent $12.6bn to make $4.6bn in revenue in 2025, $7.33bn of which was compute costs. Operating loss of $8bn. Losses getting worse year over year. Amazing stuff www.reuters.com/business/fin...

Summary
Companies
• Anthropic IPO could value the company at more than $2
trillion
• Anthropic lost $42 billion in 2025
• Al lab spent $7.33 billion on compute and infrastructure last year
• Operating loss widened to $8.06 billion in 2025 from $2.98 billion in 2024
• Execs, industry analysts have expressed concerns over harms of Al tech
Sept 28 (Reuters) - Anthropic is making a massive bet that Al will transform the global economy more profoundly than industrialization, electricity and the internet, according to its IPO prospectus seen by Reuters.
But the cost to get there will be staggering. Anthropic reported a net loss of $42 billion in 2025, and plans to spend $518 billion on cloud, computing and infrastructure obligations in coming year, according to the
prospectus.

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Mike Brock 🇺🇸 @brockm.bsky.social · 28/09/2026

We should pass a law where women are just legally allowed one swift punch to the face of any man who says they should "smile more".

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teh_drewski @teh-drewski.bsky.social · 27/09/2026

They buy power/water and rent the land. That's it. That's the whole of the economic contribution they'll make. Absolutely moronic ignorance from the government. They're just the same gullible idiots running everything.

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Mike Ginn @shutupmikeginn.bsky.social · 25/09/2026

“Middlebrow” is the perfect level of brow for a movie to be. if you want smarter read a book if you want dumber read some posts

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Dr Abeba Birhane @abeba.blacksky.app · 24/09/2026

over the past few weeks several AI evaluation/cybersecurity experts have explained how what's happening is a result of human incompetence rather than "AI going rogue". I'm begging the media to show a shred of journalistic integrity and stop parroting what altman or amodei say

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Dash Nehring @punningstunts.bsky.social · 22/09/2026

I went and made this for ya, it was too good a meme

meme featuring three panels. the top panel is a picture of a headline over Jason from the Good Place. The headline says "AI could be a bubble and is not yet making Australia more productive, Michele Bullock Says".

Underneath is a caption: "I think AI might be a bubble".

The second panel is Michael with a shocked expresson standing next to Janet. He says "The RBA figured it out? the RBA?"

The third panel is Michael touching his stomach. He says "This is a real low point. Yeah, this one hurts."

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Lola T. BabaBOOie (Slut Shaman) 🏳️‍⚧️ @bababooie42.bsky.social · 22/09/2026

Ignorancemaxxing, just absolutely obliviousmogging the guy, brutal

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teh_drewski @teh-drewski.bsky.social · 22/09/2026

One thing you've gotta give Clavicular is he really knows how to take it on the chin

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Girl on the Net @girlonthenet.bsky.social · 20/09/2026

Btw it’s interesting the way ‘don’t bodyshame’ principles fall by the wayside when we’re talking about men. We talk about men’s insecurities like they’re moral failings, but talk about women’s (correctly) as the harmful byproduct of a fucked up society. Why?

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Albert Pinto @70sbachchan.bsky.social · 03/08/2026

With the US strategic defeat by Iran, what are the long held assumptions that must be revised? "All the foundations of the unipolar world have vanished. " @policytensor sums up what we have learned since February. Hard to disagree with any of them.

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Ed Zitron @edzitron.com · 19/09/2026

Oracle is already teetering near fallen angel status (downgrade to junk, pension funds have to dump) as I said a few months ago. How do you possibly believe, at this point, that AI isn’t a massive and unstable financial bubble?

However, efforts to offload the debt to a broader group of investors have hit a wall due to concerns around Oracle's massive borrowing and declining
creditworthiness. The debt secured a private investment-grade rating from credit rating agencies.
Oracle's corporate credit rating currently sits one notch above junk following a downgrade from S&P in July. Banks were now forced to hold more Oracle-linked project debt on their balance sheets than initially planned, the people said.
Last week, Oracle's 82-year-old co-founder Larry Ellison abruptly cancelled a $7.5bn share-trading plan without explanation.
Oracle's stock has plunged 50 per cent since it unveiled its $300bn deal with OpenAI a
year ago.

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Dave Willner @dwillner.bsky.social · 17/09/2026

No one gets a PhD in "what if the people in charge of the Pentagon are chud idiots and they collapse the world economy because caring about strategy is Woke and Gay". But that is (self-evidently) a far more likely thing to happen, simply because it only requires stupidity to accomplish.

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joshz2012.bsky.social @joshz2012.bsky.social · 15/09/2026

Reminds me of the friendly advice Elizabeth Warren says she was given by Larry Summers.

"Larry's tone was in the friendly advice-category. He teed it up this way: I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don't listen to them. Insiders, however, get lots of access and a chance to push their ideas. People - powerful people - listen to what they have to say. But insiders also understand ones unbreakable rule: They don't criticize other insiders."

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Greg Jericho @grogsgamut.bsky.social · 15/09/2026

Always worth remembering, the only reason we see Barnaby so much on TV is because Hanson, despite 30 years as a politician, cannot find a coherent thought with a map, flash light and two days worth of rations. ABC etc should stop giving Barnaby the free air time and demand the leader of the party.

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teh_drewski @teh-drewski.bsky.social · 13/09/2026

No no you see AI will be the first field where absolutely rabid competition domestically and internationally will make businesses *more* profitable

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teh_drewski @teh-drewski.bsky.social · 12/09/2026

Maybe Nvidia got extra cute and only theoretically made the chips. If they don't need to deliver them they don't need to make them, right? Seems efficient to just-in-time the manufacturing too.

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Dara O'Reilly @daraor.bsky.social · 11/09/2026

It's hard to read this as anything other than complaining bitterly about having to do one's job.

Given the change in London politics, Mr Lammy continued: “So for the first time in 27 years, I need an organiser, a community organiser who’s day-to-day in the constituency on doors, with those leaflets, helping me know where the issues are, street to street, neighbourhood to neighbourhood.

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teh_drewski @teh-drewski.bsky.social · 11/09/2026

Don't disagree with this but think it demonstrates an underlying scepticism about the safety of online spaces, and a lack of inherent objection to invasive regulation, which is why all right of the Greens in Oz are v. comfortable with every erosion of freedom online to chase safety, however illusory

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scwiba @scwiba.bsky.social · 11/09/2026

This man won his primary by 30 points.

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JVG 骨 @jasonv.bsky.social · 20/09/2025

For 1 million dollars a year i will provide my valuable expertise to tell a ceo or board of directors stuff that any normal person could tell them like "don't do that" or "that sucks" or "why would anyone want that?"

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teh_drewski @teh-drewski.bsky.social · 01/09/2026

Labor partisans heard to comment that Egyptian river swimming is especially pleasant at this point of this electoral cycle

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Albert Pinto @70sbachchan.bsky.social · 29/08/2026

Battery Hockey Stick of Hope meets Solar Hockey Stick Of Hope "In Australia, the impact of batteries transforming the electricity system in 1 graph with a 2-year gap 🫶 They enable better utilization of solar energy and less gas consumption at peak times. This lowers the bill ⚡️ for 🇦🇺" 👍

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Ed Zitron @edzitron.com · 22/08/2026

When you hear "NVIDIA" and "data center" in the same breath, know that this person is not talking about VOIP or Instagram or online banking or online gaming, they are explicitly talking about generative AI services. These data centers aren't useful for anything else.

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Albert Pinto @70sbachchan.bsky.social · 24/10/2025

Same equipment! "In Germany, a standard 7kW rooftop solar system costs $10,000. In Australia, it costs $4K In the US, the same system costs about $28,000 — thanks partly to a mess of state, local, and HOA rules, per a new analysis shared with @alexckaufman.bsky.social" heatmap.news/energy/solar...

heatmap.news

Simpler Solar Regulations Would Save Americans $1.2 Trillion

A new analysis by Permit Power calculates the cumulative benefits of cheap rooftop solar over the lifetime of a typical rig.

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Amy Remeikis @amyremeikis.bsky.social · 09/08/2026

You can’t appease power. In 1938, the head of the BBC assured the Nazi ambassador to Britain the UK broadcaster was ‘not anti-Nazi’ and willingly censored BBC news. Appeasement doesn’t work www.thenewdaily.com.au/opinion/2026...

thenewdaily.com.au

Appeasement of authoritarian voices dooms us to repeating history

No matter how much we know about history, we are doomed to repeat it. Appeasement of authoritarian voices will get us there faster.

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teh_drewski @teh-drewski.bsky.social · 08/08/2026

From just down the road from me!

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Fall of Civilizations Podcast @fallofcivilizations.com · 01/08/2026

Some photos of our recent film shoot in Indonesia for our video for Episode 21, on the Empire of Majapahit. Really excited to share the results with you all when it's done! All reenactment footage we use is 100% real, with human actors and costumes, and always will be!

Photo of our film shoot in Indonesia. A camera looking at some men in costume.

Photo of our film shoot in Indonesia. Some royal women and a queen walk down the stairs.

Photo of our film shoot in Indonesia. Two men in Javanese costume stand in front of a far-off temple.

Photo of our film shoot in Indonesia. The people are in traditional costumes and are holding a banner saying "Fall of Civilizations from Indonesia".

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teh_drewski @teh-drewski.bsky.social · 31/07/2026

Theoretically if all their trading was done using committed funding only, they would not have to act due to the price falling. But all hedge funds use a mix of debt and investment to finance their business and are required by their lenders to maintain given leverage ratio.

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teh_drewski @teh-drewski.bsky.social · 30/07/2026

It appears to be a potential first "canary in the coal mine" supporting Ed's thesis that AI investments are a house of cards that's about to collapse.

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teh_drewski @teh-drewski.bsky.social · 30/07/2026

Situational Awareness is an AI focused hedge fund. They buy shares in AI stocks and short software companies thought vulnerable to AI. The big drop for AI hardware stocks in the last month caused heavy losses, so their banks demanded more money to secure loans, forcing them to sell all their stock

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Greg Jericho @grogsgamut.bsky.social · 30/07/2026

We're running a policy school on 19 August I'll be chatting about "What makes you feel like you're losing in this economy? (and what to do about it) nb.australiainstitute.org.au/policy_schoo...

nb.australiainstitute.org.au

Policy School - What makes you feel like you're losing in this economy?

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Greg Jericho @grogsgamut.bsky.social · 29/07/2026

I have never been shown one advantage of using AI to write or research. Every single example of someone saying how they find it helpful is accompanied with "But make sure you check it because you can't trust it". Enshittifying your writing and research should not be an aim.

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Simon Kuestenmacher @simongerman600.bsky.social · 28/07/2026

A remarkable public health statistic: the US has now surpassed its highest annual measles case count in more than 30 years. It’s only July.

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Albert Pinto @70sbachchan.bsky.social · 28/07/2026

438/ "Trump restarted the war because he wanted ships to abandon Iran’s designated route through Hormuz for the U.S.-backed route. Weeks later, after major escalation & Brent going back above $100, every transiting vessel is using Iran’s designated route. None are using the US route." - @SinaToossi

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 24/07/2026

A bet that bosses will fire workers and replace them with AI is a *good* wager. Bosses are absolute suckers for this scam. 26/

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 24/07/2026

The single most salient fact about AI is the investment bubble, not the technical characteristics of chatbots or recent advances in statistical inference. 9/

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teh_drewski @teh-drewski.bsky.social · 24/07/2026

May as well call it Pork Barrelled Highways

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