Gresham's law: bad money drives good money out of circulation.

· Bits and Bobs 6/8/26
  • Gresham's law: bad money drives good money out of circulation.
    • Good ideas are held onto and carefully doled out since they confer an edge.
    • Bad ideas are circulated freely.
    • That means that all else equal, you'll encounter more bad ideas than good in open channels.
    • If you get something via email it's likely to be crap.
    • The world becomes more cacophonous.
    • "When everyone has a substack, no one has a substack."
    • This means that trusted recommendations are more important than ever before.
      • The "meat filter": if an actual person I know and trust recommended it, then I'll read it.