purpose   2778

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The pay-hours tradeoff in the London market | Legal Evolution (083)
Re Figure 2, notice how virtually all the orange data points (Leading Wall Street / Private Equity firms) are well above market.  Indeed, their appearance is the main reason why all but one of the green data points (Magic Circle firms) are so far below market.  Half a generation ago, the Magic Circle firms set the market. The entry of the U.S. firms into London changed that.
laterals  compensatiuon  purpose  culture 
3 days ago by JordanFurlong
DeepMind AI breakthrough on protein folding made scientists melancholy - Vox
He discusses his initial melancholy — he felt like he and the other academics had been made obsolete — and how he ultimately overrode that feeling “as my tribal reflexes gave way to a cooler and more rational assessment of the value of scientific progress.” His meditation struck me as important, because if we’re going to solve high-impact problems, we need to find a way to be psychologically open to the notion that our own minds will not always be the best tools.
purpose  philosophy  depression  ai 
6 days ago by imaginaryfriend
The Nature of the Firm - Adam Smith, Esq.
My title for today steals literally from Ronald Coase’s legendary 1937 paper of the same name, which gained Coase the Nobel in Economics in 1991.  The paper, barely over a dozen pages long, asks the question, childlike in its simplicity, “why do firms exist?”  In other words, given that essentially any and all tasks can be contracted out to people who are (pace Adam Smith) already the best at providing the goods or services they do–powerfully more true today than 80 years ago–why would anyone choose to hire people full-time instead?
firms  purpose 
15 days ago by JordanFurlong

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