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[2]
|
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|
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LANDR Blog
|
||||
|
||||
Learnings from the frontlines of music creation.
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||||
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EN
|
||||
[5][ ]
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• [7]Music Distribution
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• [8]Music Promotion
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• [9]Music Theory
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• [10]Music Gear
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• [11]Beat Making
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• [12]Mixing & Mastering
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• [13]Vocal Production
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• [14]Recording
|
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• [15]Inspiration
|
||||
• [16]From LANDR
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Proudly brought to you by LANDR
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|
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About LANDR
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Create, master and release your music in one place.
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•
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[19]Plugins
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•
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•
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[21]Mastering
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•
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[22]Distribution
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•
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[23]Collaboration
|
||||
• [24]Join LANDR for free
|
||||
|
||||
Lofi Chord Progressions: 11 Easy Ways to Build Nostalgic Lo-Fi Chords
|
||||
|
||||
[25]Beat Making[26]Inspiration[27]Music Theory[28]Video
|
||||
[29]Anthony Albanese · 3 Aug 2023 · 9 minute read
|
||||
Share this article:
|
||||
[31]
|
||||
[33]
|
||||
[35]
|
||||
[37]
|
||||
|
||||
Lo-fi music is known for its lush chords and warm [39]chord progressions.
|
||||
|
||||
Craft your next hit with a collection of over two million exclusive, royalty
|
||||
free hooks, loops, FX, vocals, beats and more. <a href="https://
|
||||
samples.landr.com/?utm_campaign=
|
||||
acquisition_platform_en_us_samples-en-generic-ad&utm_medium=organic_post&
|
||||
utm_source=blog&utm_content=en-generic-ad&utm_term=general">Try LANDR Samples</
|
||||
a>Craft your next hit with a collection of over two million exclusive, royalty
|
||||
free hooks, loops, FX, vocals, beats and more. <a href="https://
|
||||
samples.landr.com/?utm_campaign=
|
||||
acquisition_platform_en_us_samples-en-generic-ad&utm_medium=organic_post&
|
||||
utm_source=blog&utm_content=en-generic-ad&utm_term=general">Try LANDR Samples</
|
||||
a>
|
||||
|
||||
Craft your next hit with a collection of over two million exclusive, royalty
|
||||
free hooks, loops, FX, vocals, beats and more. [40]Try LANDR Samples
|
||||
|
||||
|
||||
There’s something about lo-fi chords that give them a [41]nostalgic feeling
|
||||
though.
|
||||
|
||||
The pairing of[42] jazz harmony with a [43]lo-fi aesthetic will get you there
|
||||
most of the time, but there are specific chords and chord progressions that can
|
||||
really hook a listener in.
|
||||
|
||||
In this article, I’m going to cover lo-fi chord progressions that’ll make your
|
||||
lo-fi beats stand out.
|
||||
|
||||
I’ll also explain what colours and textures you can use on your lo-fi chords to
|
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[44]achieve a retro, nostalgic sound.
|
||||
|
||||
I’ll be using some [45]music theory lingo in this article, and I’ll be linking
|
||||
to several resources along the way—just in case you happen to get lost.
|
||||
|
||||
Product imageProduct image
|
||||
|
||||
Find lo-fi inspiration.
|
||||
|
||||
[46]Get Free Lo-Fi Samples
|
||||
|
||||
If you want to use these lo-fi chords and progressions in your productions,
|
||||
[47]get the MIDI files here.
|
||||
|
||||
|
||||
1. Dmin11 – Ebmin11
|
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|
||||
This simple two-chord progression goes a long way. I know what you’re thinking–
|
||||
only two chords?
|
||||
|
||||
Hear me out. This chord progression uses parallelism. The chords are only a
|
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semitone away from each other, but the sonic difference is astounding.
|
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|
||||
This chord progression uses [48]extensions like the ninth, and eleventh of the
|
||||
scale they’re from.
|
||||
|
||||
Adding these colours will make your chords sound more lush and [49]emotional.
|
||||
|
||||
|
||||
|
||||
Get the free lo-fi chord progressions MIDI pack
|
||||
|
||||
[50]Get the free MIDI pack
|
||||
|
||||
2. Dmin11 – Gmin7 – Dmin11 – Ebmin11 – C#dim7
|
||||
|
||||
I heard you complaining about the lack of chords in the last progression, so I
|
||||
expanded on it.
|
||||
|
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It starts with the same chord as the first progression, but I’ve added a Gmin11
|
||||
and C#dim7 chord.
|
||||
|
||||
[52]Diminished chords function as a dominant chord, so they work well to get
|
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you back home.
|
||||
|
||||
Diminished chords are built on minor third intervals. This gives them a very
|
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dark, but sophisticated sound.
|
||||
|
||||
Perfect to use in any [53]lo-fi beat you’ve got on the go.
|
||||
|
||||
3. Amin11 – D7 – Fmaj7 – Cmaj7
|
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|
||||
This progression has some of the most emotional harmonic movement you’ll ever
|
||||
hear. It happens when the D7 chord falls to the F major 7.
|
||||
|
||||
This happens because D7 and F major share several of the same notes–except one.
|
||||
|
||||
The F sharp falling to F natural is at the core of what makes this progression
|
||||
so emotional.
|
||||
|
||||
Finishing off on a C major 7 chord keeps the mood uplifting, before returning
|
||||
to its minor counterpart.
|
||||
|
||||
|
||||
|
||||
Get the free lo-fi chord progressions MIDI pack
|
||||
|
||||
[54]Get the free MIDI pack
|
||||
|
||||
4. Fmin9 – Ebmaj9
|
||||
|
||||
This one is a lot like the first chord progression. It’s not completely
|
||||
parallel, but the root movement is similar.
|
||||
|
||||
The change from minor to major is what gives this progression its own vibe.
|
||||
|
||||
The added ninth to the Ebmaj7 chord makes this one sound very uplifting–making
|
||||
it perfect for any happier Lo-fi jams you’ve got going on.
|
||||
|
||||
5. Cmin11 – Fmin9 – Cmin11 – G7#5
|
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|
||||
This progression contains a chord with some serious texture happening. I’m
|
||||
talking about the sharp 5 on the G7 chord.
|
||||
|
||||
Also known as an augmented seventh chord, the G7#5 carries a weight that
|
||||
resolves nicely back to the Cmin11.
|
||||
|
||||
This type of chord always carries a mysterious but nostalgic feeling whenever I
|
||||
hear it. It’s no wonder that you’ll find it in several Lo-fi jams.
|
||||
|
||||
[56]
|
||||
Learn music theory
|
||||
|
||||
Unlock better songwriting
|
||||
|
||||
Get the tools and knowledge you need to write better music with professional
|
||||
music theory instructors in LANDR Studio.
|
||||
|
||||
Start learning
|
||||
Learn music theory Learn music theory
|
||||
|
||||
6. Ebmaj9 – Abmaj13
|
||||
|
||||
This progression might be the happiest in this list. It’s completely major,
|
||||
with some nice extensions to boot.
|
||||
|
||||
I know, we’re working with two chords again. If you’re working on a slow bop
|
||||
this might be all you need.
|
||||
|
||||
The F note that is the major ninth extension on the Ebmaj9 chord remains static
|
||||
moving into the Abmaj13 chord. It becomes the thirteenth! This static movement
|
||||
makes this chord progression dense, but colourful.
|
||||
|
||||
Get the free lo-fi chord progressions MIDI pack
|
||||
|
||||
[57]Get the free MIDI pack
|
||||
|
||||
7. Gmaj7 – F#min7 – Amin7b5
|
||||
|
||||
You’ve arrived at the most chill sounding progression in this list. The reason
|
||||
why this chord progression brings the chill factor is the last chord that turns
|
||||
around to the top.
|
||||
|
||||
The minor seven flat five, or half-diminished chord carries a darker colour
|
||||
than a regular minor chord. It’s borrowed from the parallel [59]minor key and
|
||||
serves as a plagal [60]cadence back to the G major chord.
|
||||
|
||||
It’s a little out of place, but most chill things usually are.
|
||||
|
||||
8. Gmin9 – Ebmaj9 – Cmin11 – Ebminmaj7
|
||||
|
||||
Unlimited mastering & distribution, 1200 royalty-free samples, 30+ plugins and
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||||
more! <a href="https://join.landr.com/landr-studio/?utm_campaign=
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|
||||
utm_source=blog&utm_content=left-hand-generic-ad&utm_term=general">Get
|
||||
everything LANDR has to offer with LANDR Studio.</a>Unlimited mastering &
|
||||
distribution, 1200 royalty-free samples, 30+ plugins and more! <a href="https:/
|
||||
/join.landr.com/landr-studio/?utm_campaign=
|
||||
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utm_source=blog&utm_content=left-hand-generic-ad&utm_term=general">Get
|
||||
everything LANDR has to offer with LANDR Studio.</a>
|
||||
|
||||
Unlimited mastering & distribution, 1200 royalty-free samples, 30+ plugins and
|
||||
more! [61]Get everything LANDR has to offer with LANDR Studio.
|
||||
|
||||
Just like the last progression, this one has another unique type of chord
|
||||
quality that brings home the mystery factor.
|
||||
|
||||
I’m talking about the minor-major seven chord. It’s built with a minor triad
|
||||
but includes a major 7 on top.
|
||||
|
||||
This chord is one that you might associate with mysterious moments in old
|
||||
thriller movies.
|
||||
|
||||
That’s why I think this chord reigns in the nostalgia factor. It’s a perfect
|
||||
way to get back home in this minor sounding progression.
|
||||
|
||||
|
||||
|
||||
Get the free lo-fi chord progressions MIDI pack
|
||||
|
||||
[62]Get the free MIDI pack
|
||||
|
||||
9. CMaj9 – B7aug5#9 – Emin9 – EbMaj7Aug5 – Dmaj7 – DbMaj7Aug5 – CMaj7 – F/B
|
||||
|
||||
Here’s a very [64]soulful chord progression that ends with a nostalgic sounding
|
||||
2-5-1 progression,
|
||||
|
||||
What makes this progression so interesting is all the augmented passing chords
|
||||
between each diatonic chord.
|
||||
|
||||
These augmented chords don’t really belong to the key and are fairly dissonant,
|
||||
but they’re great when used as a pathway to the more pleasing major and minor
|
||||
sevenths and nine chords.
|
||||
|
||||
The chord progression also ends in a very sweet yet mysterious F/B chord that
|
||||
implies that the chord progression has places to go next.
|
||||
|
||||
|
||||
|
||||
10. Cmin9 – Fmin9 – F/G – DbMaj9 – Cmin9 – Fmin9 – F/G – G7b9aug5
|
||||
|
||||
Here’s a nice chord progression in C minor that makes some interesting moves in
|
||||
the bass.
|
||||
|
||||
Moving from Cmin9 to Fmin9 it’s interesting to then go a tone above Fmin9 to G
|
||||
major while still keeping the F in the bass.
|
||||
|
||||
Product imageProduct image
|
||||
|
||||
Our favorite lo-fi sounds
|
||||
|
||||
[65]Get Floral - Lofi JazzHop
|
||||
|
||||
This lateral movement is cool because it keeps an F note in the bass from the
|
||||
previous chord while moving to G major.
|
||||
|
||||
Depending on where you want to go with the chord progression, you could also
|
||||
alternate between a DbMaj9 chord instead of the G7b9aug5 chord at the end.
|
||||
|
||||
11. F#Maj9 – BMaj9 – AMaj9 – EMaj9 – F#Maj9 – BMaj9 – AMaj9 – DMaj9
|
||||
|
||||
Here’s a great example of how exclusively using one type of chord—in this case
|
||||
the major 9 chord—is a totally great way to make a soulful lofi chord
|
||||
progression.
|
||||
|
||||
The trick of course is to find ways of voicing and spacing the chords together
|
||||
so they blend nicely on the keyboard and are ultimately easier to play.
|
||||
|
||||
Shown in this example is just one way of voicing this chord progression, but
|
||||
don’t be afraid to take the artistic license to decide how a chord progression
|
||||
like this should be voiced.
|
||||
|
||||
Get the free lo-fi chord progressions MIDI pack
|
||||
|
||||
[66]Get the free MIDI pack
|
||||
[68]
|
||||
LANDR Samples
|
||||
|
||||
Exclusive, royalty-free sounds
|
||||
|
||||
Craft your next hit with a collection of over two million exclusive, royalty
|
||||
free hooks, loops, FX, vocals, beats and more.
|
||||
|
||||
Try LANDR Samples
|
||||
LANDR SamplesLANDR Samples
|
||||
|
||||
Nostalgia in Numbers
|
||||
|
||||
It’s interesting that these colorful chords make us feel a certain way,
|
||||
especially when they’re paired together in a chord progression.
|
||||
|
||||
Knowing how to colour your chords is one of the benefits of knowing music
|
||||
theory. So, keep learning and keep painting lo-fi music.
|
||||
|
||||
Share this article:
|
||||
[70]
|
||||
[72]
|
||||
[74]
|
||||
[76]
|
||||
Anthony AlbaneseAnthony Albanese
|
||||
|
||||
Anthony is a music producer and educator with notable placements for Universal,
|
||||
Guitar Center and CBC. He currently resides in Montreal and leads LANDR's [78]
|
||||
YouTube channel & [79]Premium Courses education platform. He also works as
|
||||
composer and producer at [80]RVRSPlay and founded jazz pop duo Elluisoir. [81]
|
||||
Connect with Anthony on LANDR Network!
|
||||
|
||||
[82]@Anthony Albanese
|
||||
|
||||
Gear guides, tips, tutorials, inspiration and more—delivered weekly.
|
||||
|
||||
Keep up with the LANDR Blog.
|
||||
|
||||
[83][ ]
|
||||
[84][ ]Subscribe
|
||||
Latest posts
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||||
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||||
[86]
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||||
The 10 Best Pitch Correction Plugins Tested for Any BudgetThe 10 Best Pitch
|
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Correction Plugins Tested for Any Budget
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Vocal Production
|
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|
||||
The 10 Best Pitch Correction Plugins Tested for Any Budget
|
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|
||||
[87]
|
||||
The 9 Best Free AI Stem Splitters and Vocal RemoversThe 9 Best Free AI Stem
|
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Splitters and Vocal Removers
|
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Beat Making
|
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|
||||
The 9 Best Free AI Stem Splitters and Vocal Removers
|
||||
|
||||
[88]
|
||||
What is a DAW? The Beginner’s Guide to Music Production SoftwareWhat is a DAW?
|
||||
The Beginner’s Guide to Music Production Software
|
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Beat Making
|
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|
||||
What is a DAW? The Beginner’s Guide to Music Production Software
|
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|
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The LANDR Blog is your gateway to learning essential skills, growing as a music
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creator and reaching your goals.
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LANDR
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• [89]About
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Products
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Resources
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References:
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[2] https://blog.landr.com/
|
||||
[7] https://blog.landr.com/category/music-distribution/
|
||||
[8] https://blog.landr.com/category/music-promotion/
|
||||
[9] https://blog.landr.com/category/music-theory/
|
||||
[10] https://blog.landr.com/category/music-gear/
|
||||
[11] https://blog.landr.com/category/beat-making/
|
||||
[12] https://blog.landr.com/category/mixing-mastering/
|
||||
[13] https://blog.landr.com/category/vocal-production/
|
||||
[14] https://blog.landr.com/category/music-recording/
|
||||
[15] https://blog.landr.com/category/songwriting-inspiration/
|
||||
[16] https://blog.landr.com/category/from-landr/
|
||||
[19] https://www.landr.com/plugins/?utm_campaign=acquisition_plugins_EN_intl_top-nav-bar-blog&utm_medium=organic_post&utm_source=blog&utm_content=top-nav-bar-blog-plugins&utm_term=general
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[20] https://samples.landr.com/?utm_campaign=acquisition_samples_EN_intl_top-nav-bar-blog&utm_medium=organic_post&utm_source=blog&utm_content=top-nav-bar-blog-samples&utm_term=general
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[21] https://www.landr.com/online-audio-mastering/?utm_campaign=acquisition_mastering_EN_intl_top-nav-bar-blog&utm_medium=organic_post&utm_source=blog&utm_content=top-nav-bar-blog-mastering&utm_term=general
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[22] https://www.landr.com/digital-distribution/?utm_campaign=acquisition_distribution_EN_intl_top-nav-bar-blog&utm_medium=organic_post&utm_source=blog&utm_content=top-nav-bar-blog-distribution&utm_term=general
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[23] https://www.landr.com/music-collaboration/?utm_campaign=acquisition_collaboration_EN_intl_top-nav-bar-blog&utm_medium=organic_post&utm_source=blog&utm_content=top-nav-bar-blog-collaboration&utm_term=general
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[24] https://app.landr.com/?locale=en&isSignup=true&utm_campaign=consideration_platform_en_intl_blog-join-landr-menu&utm_medium=organic_post&utm_source=blog&utm_content=blog-join-landr-menu&utm_term=general
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[25] https://blog.landr.com/category/beat-making/
|
||||
[26] https://blog.landr.com/category/songwriting-inspiration/
|
||||
[27] https://blog.landr.com/category/music-theory/
|
||||
[28] https://blog.landr.com/category/watch/
|
||||
[29] https://blog.landr.com/author/anthony/
|
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[31] https://www.facebook.com/sharer/sharer.php?u=&src=sdkpreparse
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[33] https://twitter.com/share?ref_src=twsrc%5Etfw&text=Check%20out%20this%20LANDR%20Blog%20post%3A%0A%0A&url=
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[35] https://www.linkedin.com/shareArticle?mini=true&url=
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[37] https://reddit.com/submit?url=&title=Check%20out%20this%20LANDR%20Blog%20post%3A%0A%0A
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[39] https://blog.landr.com/chord-progressions/
|
||||
[40] https://samples.landr.com/?utm_campaign=acquisition_platform_en_us_samples-en-generic-ad&utm_medium=organic_post&utm_source=blog&utm_content=en-generic-ad&utm_term=general
|
||||
[41] https://samples.landr.com/packs/nostalgia
|
||||
[42] https://blog.landr.com/jazz-chord-progressions/
|
||||
[43] https://blog.landr.com/lofi/
|
||||
[44] https://blog.landr.com/best-lofi-plugins/
|
||||
[45] https://blog.landr.com/music-theory/
|
||||
[46] https://samples.landr.com/collections/free-lo-fi-samples?utm_campaign=acquisition_samples_en_us_samples-free-lofi-samples&utm_medium=organic_post&utm_source=blog&utm_content=free-lofi-samples&utm_term=general
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||||
[47] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[48] https://blog.landr.com/extended-chords/
|
||||
[49] https://blog.landr.com/emotional-chord-progressions/
|
||||
[50] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[52] https://blog.landr.com/diminished-chords/
|
||||
[53] https://blog.landr.com/how-to-make-lo-fi-hip-hop/
|
||||
[54] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[56] https://learn.landr.com/course/music-theory-course-online?utm_campaign=acquisition_learn_en_intl_edu-music-theory-live-instructor-edu-music-theory-live-instructor&utm_medium=organic_post&utm_source=blog&utm_content=edu-music-theory-live-instructor&utm_term=general
|
||||
[57] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[59] https://blog.landr.com/minor-scales/
|
||||
[60] https://blog.landr.com/cadences-songwriting/
|
||||
[61] https://join.landr.com/landr-studio/?utm_campaign=acquisition_platform_en_us_studio-generic-new-blog-ad&utm_medium=organic_post&utm_source=blog&utm_content=left-hand-generic-ad&utm_term=general
|
||||
[62] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[64] https://blog.landr.com/gospel-chords/
|
||||
[65] https://samples.landr.com/packs/floral-lofi-jazzhop?utm_campaign=acquisition_platform_en_us_samples-en-lofi-sample-network&utm_medium=organic_post&utm_source=blog&utm_content=en-lofi-sample-network&utm_term=general
|
||||
[66] https://app.landr.com/projects/b88ad15e-1686-43ce-a7e6-4601f84b99a3/?utm_campaign=acquisition_platform_en_intl_midi-packs&utm_medium=organic_post&utm_source=blog&utm_term=general&utm_content=lofi-chords
|
||||
[68] https://samples.landr.com/?utm_campaign=acquisition_platform_en_us_samples-en-advertorial-generic-ad&utm_medium=organic_post&utm_source=blog&utm_content=en-advertorial-generic-ad&utm_term=general
|
||||
[70] https://www.facebook.com/sharer/sharer.php?u=&src=sdkpreparse
|
||||
[72] https://twitter.com/share?ref_src=twsrc%5Etfw&text=Check%20out%20this%20LANDR%20Blog%20post%3A%0A%0A&url=
|
||||
[74] https://www.linkedin.com/shareArticle?mini=true&url=
|
||||
[76] https://reddit.com/submit?url=&title=Check%20out%20this%20LANDR%20Blog%20post%3A%0A%0A
|
||||
[78] https://www.youtube.com/user/LANDRmastering
|
||||
[79] https://learn.landr.com/
|
||||
[80] https://www.rvrsplay.com/
|
||||
[81] https://network.landr.com/users/anthonyalbanese
|
||||
[82] https://blog.landr.com/author/anthony/
|
||||
[86] https://blog.landr.com/best-pitch-correction-plugins/
|
||||
[87] https://blog.landr.com/ai-stem-splitters/
|
||||
[88] https://blog.landr.com/what-is-a-daw/
|
||||
[89] https://www.landr.com/en/about/?utm_campaign=acquisition_platform_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[90] https://blog.landr.com/
|
||||
[91] https://support.landr.com/hc/en-us
|
||||
[92] https://jobs.landr.com/
|
||||
[93] https://affiliate.landr.com/
|
||||
[94] https://www.landr.com/en/press/?utm_source=blog&utm_medium=organic_post&utm_campaign=Engagement_General_EN_Core_Blog&utm_term=BlogFooter&utm_content=PressPage
|
||||
[95] https://www.landr.com/online-audio-mastering?utm_campaign=acquisition_mastering_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[96] https://www.landr.com/en/digital-distribution/?utm_campaign=acquisition_distribution_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[97] https://samples.landr.com/?utm_campaign=acquisition_samples_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[98] https://network.landr.com/?utm_campaign=acquisition_network_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[99] https://www.landr.com/en/sessions/?utm_campaign=acquisition_collaboration_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[100] https://www.landr.com/en/plugins/?utm_campaign=acquisition_plugins_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[101] https://samples.landr.com/creator-beatmaker?utm_campaign=acquisition_samples_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[102] https://samples.landr.com/plugin?utm_campaign=acquisition_samples_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[103] https://www.landr.com/mobile-app/?utm_campaign=acquisition_platform_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[104] https://learn.landr.com/?utm_campaign=acquisition_learn_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[105] https://www.landr.com/en/what-is-mastering/?utm_campaign=acquisition_mastering_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[106] https://www.landr.com/en/how-to-mix/?utm_campaign=acquisition_mastering_en_us_footer&utm_medium=organic_post&utm_source=blog&utm_content=&utm_term=general
|
||||
[107] https://blog.landr.com/how-to-promote-your-music/
|
||||
[108] https://blog.landr.com/
|
||||
[109] https://www.landr.com/en/privacy/
|
||||
[110] https://www.landr.com/en/terms-of-service/
|
||||
[111] https://open.spotify.com/playlist/2UeCp7yf9FEkf9DATLwa4G
|
||||
[112] https://www.linkedin.com/company/landrmusic/
|
||||
[113] https://www.facebook.com/LANDRmusic/
|
||||
[114] https://twitter.com/LANDR_music
|
||||
[115] https://www.instagram.com/landrmusic/
|
||||
384
static/archive/davekarpf-substack-com-yferui.txt
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384
static/archive/davekarpf-substack-com-yferui.txt
Normal file
@@ -0,0 +1,384 @@
|
||||
[1][https]
|
||||
|
||||
[2]The Future, Now and Then
|
||||
|
||||
SubscribeSign in
|
||||
Share this post
|
||||
[https]
|
||||
|
||||
On giant piles of cash, and their origins
|
||||
|
||||
davekarpf.substack.com
|
||||
Copy link
|
||||
Facebook
|
||||
Email
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|
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|
||||
|
||||
On giant piles of cash, and their origins
|
||||
|
||||
The trouble with venture capital is that it has gotten too big.
|
||||
|
||||
[12][https]
|
||||
[13]Dave Karpf
|
||||
Apr 19, 2024
|
||||
66
|
||||
Share this post
|
||||
[https]
|
||||
|
||||
On giant piles of cash, and their origins
|
||||
|
||||
davekarpf.substack.com
|
||||
Copy link
|
||||
Facebook
|
||||
Email
|
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Note
|
||||
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|
||||
[20]
|
||||
13
|
||||
[21]
|
||||
Share
|
||||
[22]
|
||||
[https]
|
||||
source: Unsplash https://unsplash.com/photos/100-us-dollar-bill-BRl69uNXr7g
|
||||
|
||||
Technological innovation requires capital. A lot of capital. A giant pile of
|
||||
cash.
|
||||
|
||||
There are, to a first approximation, only three places you can find of a giant
|
||||
pile of cash. There’s government money. There’s venture capital. And there’s
|
||||
big corporate R&D.
|
||||
|
||||
Thanks for reading The Future, Now and Then! Subscribe for free to receive new
|
||||
posts and support my work.
|
||||
|
||||
[31][ ]
|
||||
Subscribe
|
||||
Of the three, I would argue that government is clearly the best. The reason is
|
||||
simple: government funding doesn’t come attached to some rich asshole who
|
||||
inevitably screws things up later.
|
||||
|
||||
Venture capital, for this same reason, is quite clearly the worst. Andy Baio’s,
|
||||
“[33]The Quiet Death of Ello’s Big Dream” is worth reading on this point. VC
|
||||
funding comes attached to VC revenue expectations. It makes unreasonable
|
||||
demands. Sometimes they work out for the investors. They very rarely work out
|
||||
for everyone else.
|
||||
|
||||
Big corporate money is somewhere in the middle. I’d classify it as eh, fine I
|
||||
guess, so long as the marketplace is otherwise well-regulated and those large
|
||||
corporations are constrained. (Which, heh, ofcoursewedon’thaverightnow.)
|
||||
|
||||
The examples of big corporate money that spring immediately to mind are [34]
|
||||
Bell Labs and [35]Xerox PARC. There was indeed a time when big companies
|
||||
invested a ton in basic science and R&D, with no immediate plans to turn the
|
||||
results into products. And, as [36]Ian Betteridge pointed out last month, this
|
||||
was because the big companies were rightly concerned about the antitrust cops.
|
||||
[37]A nervous monopolist is a (relatively) well-behaved monopolist.
|
||||
|
||||
Still, there’s a bit of elegance to the big-pile-of-government-money approach.
|
||||
I first took notice of this with the passage of the Inflation Reduction Act
|
||||
(IRA). Fifteen years ago, everyone kind of thought that the only way to
|
||||
jumpstart the clean energy transition was to institute a carbon tax or
|
||||
cap-and-trade/cap-and-dividend system. (Basically, do some fancy tricks that
|
||||
the economists suggested, then let the market work its magic.) Cap-and-Trade
|
||||
failed for a whole lot of reasons, but one of the biggest was that the proposal
|
||||
was complex and boring in a way that appealed to the economists but were
|
||||
impossible to message. Most people were left thinking “this is probably gonna
|
||||
turn into weird corporate bullshit, right?”
|
||||
|
||||
The IRA, by contrast, was just a big pile of money attached to industrial
|
||||
policy — directional instructions for how to spend the pile. That’s effectively
|
||||
all it could be, because of some vagaries in the Senate rules that let you
|
||||
avoid the filibuster and pass budget bills with a 51-vote majority. And while
|
||||
that big pile of money isn’t perfect, it is funding a lot of good things.
|
||||
|
||||
And of course we can scan back in history for plenty of other examples. [38]The
|
||||
semiconductor industry and the internet were both built out of government
|
||||
grants and defense contracts. We have sputnik and the space race to thank for
|
||||
the computer age. The Human Genome Project was government funding. So was the
|
||||
National Nanotechnology Initiative. Some of these were big hits, some were
|
||||
glancing misses. But the general model of promising avenue —> government sets
|
||||
up a big pile of money —> research and development flourishes in that area is
|
||||
pretty well established. It works.
|
||||
|
||||
The are, as far as I can tell, only three downsides to the
|
||||
government-pile-of-money approach:
|
||||
|
||||
1. You’ll need to make the money back through taxes on the industries that
|
||||
develop as a result. And they won’t want to pay those taxes. And these
|
||||
industries will be popular, with a lot of capital to spend on pressuring
|
||||
government to give them special deals and tax breaks. So maintaining the
|
||||
equilibrium of establish big pile of government money —> industries
|
||||
flourish —> they pay taxes, which lets you set up the next big pile of
|
||||
government money is going to take constant effort to maintain. (This is an
|
||||
abbreviated version of Marianna Mazzucato’s [39]The Entrepreneurial State.
|
||||
Her book is excellent, btw.)
|
||||
|
||||
2. The big pile of government money is tied up in bureaucracy, which means it
|
||||
isn’t especially nimble or responsive. This can be fixed through
|
||||
public-private partnerships and other administrative design choices. But
|
||||
it’s bound to be frustrating and sometimes wasteful. (Imagine if, circa
|
||||
2022, the Biden administration had set up a $30 billion fund for, like,
|
||||
metaverse research.) And that waste and frustration will be fodder for
|
||||
ideological opponents to the whole endeavor.
|
||||
|
||||
3. The big pile of government money doesn’t glorify entrepreneurs and
|
||||
innovators as the very-special-boys who are heroically building the future.
|
||||
And that doesn’t feel very gratifying. They would much prefer an
|
||||
equilibrium where government provides the big pile of money, but then no
|
||||
one talks about it. Or gives the government any credit. Or taxes the
|
||||
windfall profits. It is not, in other words, a story that plays well at
|
||||
Davos. If those entrepreneurs get rich enough, [40]they’ll develop
|
||||
elaborate philosophical justifications for why the most important cause in
|
||||
the world is that everyone clap louder for them.
|
||||
|
||||
But those three downsides just mean that the system will require political
|
||||
maintenance. It works quite well, but it isn’t self-sustaining. And this
|
||||
observation extends beyond science and technology. The
|
||||
big-pile-of-government-money is a return to how we approached public problems
|
||||
through much of the 20th century, before it was rejected as “tax-and-spend”
|
||||
liberalism and replaced by neoliberalism’s faith-based market fundamentalism.
|
||||
|
||||
The basic proposition is as follows: we should provide public funding for
|
||||
public goods. Those public goods will make us a better, more productive
|
||||
society. And then we refill the public coffers through a system of taxation.
|
||||
The same approach can be applied to other public goods:
|
||||
|
||||
• [41]There is no magic-unicorn funding model that will save journalism. It’s
|
||||
going to require public subsidy.
|
||||
|
||||
• The crises facing the U.S. education system can mostly be reduced to the
|
||||
simple fact that we no longer fund public education like we used to. The
|
||||
idea that we are going to somehow innovate our way into a system that is
|
||||
both higher-quality and cheaper is as fantastical as it is flawed.
|
||||
|
||||
• Ditto for higher education. If you think higher education is a public good,
|
||||
then you should demand public subsidy of higher ed. (Including, but not
|
||||
limited to, student debt cancellation.) If you do not think higher eduction
|
||||
is a public good, then that’s fine too. But you ought to go ahead and say
|
||||
as much.
|
||||
|
||||
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
|
||||
|
||||
The VC approach is the prevailing model today. And I have become increasingly
|
||||
convinced that many of the problems with the current state of Silicon Valley
|
||||
are rooted in the venture capital-class simply acquiring too much capital. VC
|
||||
is fine (good, even!) when it is relatively small. But when VC is the primary
|
||||
source of funding new science and technology breakthroughs, the whole system
|
||||
gets skewed.
|
||||
|
||||
As it stands today, the primary direction-setter for new advances in science
|
||||
and technology is “what do folks like Marc Andreessen and Peter Thiel and Gary
|
||||
Tan and Sam Altman find exciting?”
|
||||
|
||||
The problem isn’t just that these guys are ideological fellow-travelers, hell
|
||||
bent on a shared political project that socializes all risk while privatizing
|
||||
all gain. (though, I mean… that would kinda be enough of a problem on its own.)
|
||||
|
||||
It’s also that their eye for science, technology, and even consumer products
|
||||
just kinda sucks. Building toward their vision of the future means we’re going
|
||||
to end up with a lot of [42]silly investments in pretend-cities and [43]
|
||||
eugenics vaporware. It means we’ll have abundant funding for hail-mary attempts
|
||||
at developing cold fusion and geo-engineering, and practically nothing for
|
||||
helping cities remain habitable under extreme weather conditions.
|
||||
|
||||
(Read Karen Hao, I’m begging you!: We’re [44]sapping all the remaining water
|
||||
from the desert to cool AI data centers. It’s good for Microsoft’s stock
|
||||
performance. It is counterproductive to the climate emergency.)
|
||||
|
||||
This kind of VC-thinking works fine under limited conditions, and pretty
|
||||
terribly everywhere else.
|
||||
|
||||
Take Sam Altman. Altman is not an engineer. He is not a scientist. He has no
|
||||
real training in either. He is an entrepreneur, with a flair for optimistic
|
||||
tech futurism. He places bets on where technology is headed, and then attempts
|
||||
to bend society in a direction that makes those bets pay off.
|
||||
|
||||
The previous generation of venture capitalists were, for the most part, actual
|
||||
engineers and scientists. They had spent time in the lab. They had experience
|
||||
being “close to the metal.” They made some real money early, then started to
|
||||
point that money in the direction of funding audacious high-risk/high-reward
|
||||
projects that didn’t fit anywhere else. The sector was small, compared to
|
||||
government money and corporate R&D money.
|
||||
|
||||
Folks like Altman approach the future much like bad sci-fi. They begin from a
|
||||
prediction of where they’d like to end up, and then work backwards. Altman has
|
||||
faith that we’re going to end up at world-changing Artificial General
|
||||
Intelligence. That means we’ll need transformative breakthroughs in chip
|
||||
production and energy production. Ergo, he invests in cold fusion companies and
|
||||
sets out to raise $7 trillion to build his own manufacturing empire.
|
||||
|
||||
That’s actually a fine approach, as private investment strategies go. (Hey,
|
||||
you’ve got a prediction for where the world is heading, and you want to make a
|
||||
bunch of correlated bets that support the prediction? Go ahead and spend your
|
||||
own money that way. God bless.) But when it becomes the primary source of
|
||||
funding for basic science and/or applied technologies, then the whole system
|
||||
gets warped in the direction of a few billionaires’ speculative fantasies.
|
||||
|
||||
Venture Capital is not inherently better than government funding. That’s a myth
|
||||
that was popularized during the neoliberal era. It has now become impossible to
|
||||
sustain. (Just look at all the [45]stupid bullshit they fund and all the nice
|
||||
things that they ruin!)
|
||||
|
||||
Big Tech only got so big because we stopped enforcing antitrust 20+ years ago.
|
||||
If the current reemergence of antitrust enforcement has staying power, that
|
||||
will be good for society and also good for Big tech funding of basic research.
|
||||
|
||||
But, most of all, we should get back to enthusiastically celebrating large
|
||||
piles of government money, paired with substantial taxes on the companies that
|
||||
flourish as a result. Government money isn’t perfect. It can be slow and
|
||||
inefficient. But nothing is perfect. And of all the potential big-pile-of-money
|
||||
sources, it is the one that does the most good, while putting power in the
|
||||
hands of people who are at least supposed to have the best interests of the
|
||||
public in mind.
|
||||
|
||||
Thanks for reading The Future, Now and Then! Subscribe for free to receive new
|
||||
posts and support my work.
|
||||
|
||||
[54][ ]
|
||||
Subscribe
|
||||
66
|
||||
Share this post
|
||||
[https]
|
||||
|
||||
On giant piles of cash, and their origins
|
||||
|
||||
davekarpf.substack.com
|
||||
Copy link
|
||||
Facebook
|
||||
Email
|
||||
Note
|
||||
Other
|
||||
[62]
|
||||
13
|
||||
[63]
|
||||
Share
|
||||
13 Comments
|
||||
[https]
|
||||
[ ]
|
||||
[66]
|
||||
Kaleberg
|
||||
[67]Kaleberg’s Substack
|
||||
[68]Apr 19Liked by Dave Karpf
|
||||
|
||||
There's an old saying, "The customer is always right about what they
|
||||
wish to purchase." That is, people know their own needs. Being a
|
||||
[65] customer requires money. When the US had a growing middle class, they
|
||||
[https] were the customers individually and collectively. We were able to buy
|
||||
all kinds of nice things. Now, the wealthy have all the money, and
|
||||
they're the customers for symbolic stuff, not physical stuff. So, we
|
||||
have a crappy consumer market and a wasteful efflourescence of venture
|
||||
capital backed crazes.
|
||||
|
||||
Expand full comment
|
||||
Reply
|
||||
Share
|
||||
|
||||
[71]
|
||||
Ralph Haygood
|
||||
[72]Apr 20·edited Apr 20Liked by Dave Karpf
|
||||
|
||||
"The basic proposition is as follows: we should provide public funding
|
||||
for public goods." However, public funding tends to involve taxation,
|
||||
and the rotten core of "conservatism" is myopic selfishness, so denying
|
||||
public goods even exist is typical of "conservatives". Moreover, the
|
||||
USA is so collectively brainwashed in this regard that even ostensible
|
||||
liberals often fall into thinking of public goods as if they weren't.
|
||||
For example, it's common to say things like "higher education is the
|
||||
single best investment that you can make in yourselves and your
|
||||
future"*, which may be correct as far as it goes, but it leaves out
|
||||
that education is foremost a public good, something we the people fund
|
||||
because it benefits all of us to live in a society where most people
|
||||
are well educated, to whatever level suits their talents and interests.
|
||||
So as a matter of realpolitik in the USA, good luck getting much
|
||||
traction with the eminently reasonable arguments you've presented here.
|
||||
|
||||
"It's also that their eye for science, technology, and even consumer
|
||||
[70] products just kinda sucks." I'll be blunter: the guys you've mentioned
|
||||
[https] are just kinda dumb. For example, Peter Thiel famously cheered for
|
||||
Candidate Trump but was disappointed with President Trump, declaring
|
||||
the latter and his shambolic administration "incompetent"**. Um, yeah,
|
||||
no shit, Sherlock. But the way Cheetolini governed, if you call it
|
||||
that, was perfectly consistent with his public conduct for decades
|
||||
prior. Only dullards were surprised. Evidently, Thiel is one of them.
|
||||
|
||||
"The big pile of government money is tied up in bureaucracy, which
|
||||
means it isn't especially nimble or responsive.": Often but not always.
|
||||
In my experience, DARPA and NSF have been fairly nimble and responsive.
|
||||
It can be done!
|
||||
|
||||
*[73]https://obamawhitehouse.archives.gov/the-press-office/2014/06/09/
|
||||
remarks-president-opportunity-all-making-college-more-affordable
|
||||
|
||||
**[74]https://www.buzzfeednews.com/article/ryanmac/
|
||||
peter-thiel-and-donald-trump
|
||||
|
||||
Expand full comment
|
||||
Reply
|
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|
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[89][ ]
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[91]Privacy ∙ [92]Terms ∙ [93]Collection notice
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[94] Start Writing[95]Get the app
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[96]Substack is the home for great culture
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[2] https://davekarpf.substack.com/
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[12] https://substack.com/profile/672568-dave-karpf
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[13] https://substack.com/@davekarpf
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[20] https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their/comments
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[21] javascript:void(0)
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[22] https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff0a27821-16b9-4428-9fbd-2b827c0b4a04_5274x3516.jpeg
|
||||
[33] https://waxy.org/2024/01/the-quiet-death-of-ellos-big-dreams/
|
||||
[34] https://www.amazon.com/Idea-Factory-Great-American-Innovation/dp/0143122797
|
||||
[35] https://www.amazon.com/Dealers-Lightning-Xerox-PARC-Computer/dp/0887309895/ref=pd_lpo_sccl_1/130-4281032-0312943?pd_rd_w=bQShS&content-id=amzn1.sym.1ad2066f-97d2-4731-9356-36b3edf1ae04&pf_rd_p=1ad2066f-97d2-4731-9356-36b3edf1ae04&pf_rd_r=QQW6HS3GCGN3TEE8NT7X&pd_rd_wg=wlvhQ&pd_rd_r=82c1a85f-ab39-40d4-b2bf-189e1644f181&pd_rd_i=0887309895&psc=1
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[36] https://ianbetteridge.com/2024/03/22/a-few-thoughts-on-the-apple-doj-antitrust-case-from-someone-who-isnt-riding-his-first-rodeo/
|
||||
[37] https://medium.com/@davekarpf/the-infowars-purge-and-life-among-responsible-information-monopolies-ddaa14f6cf0
|
||||
[38] https://www.penguinrandomhouse.com/books/534709/the-code-by-margaret-omara/
|
||||
[39] https://marianamazzucato.com/books/the-entrepreneurial-state/
|
||||
[40] https://davekarpf.substack.com/p/why-cant-our-tech-billionaires-learn
|
||||
[41] https://mattdpearce.substack.com/p/we-cant-save-journalism-by-just-begging
|
||||
[42] https://www.theatlantic.com/magazine/archive/2024/03/silicon-valley-billionaires-building-cities/677173/
|
||||
[43] https://www.wired.com/story/this-woman-will-decide-which-babies-are-born-noor-siddiqui-orchid/
|
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[44] https://www.theatlantic.com/technology/archive/2024/03/ai-water-climate-microsoft/677602/?utm_campaign=weekly-planet&utm_source=newsletter&utm_medium=email&utm_content=20240301&utm_term=The+Weekly+Planet
|
||||
[45] https://davekarpf.substack.com/p/the-money-has-to-come-from-somewhere
|
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[62] https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their/comments
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[63] javascript:void(0)
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[65] https://substack.com/profile/9557634-kaleberg
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[66] https://substack.com/profile/9557634-kaleberg
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[67] https://writtenstuff.substack.com/?utm_source=substack&utm_medium=web&utm_content=comment_metadata
|
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[68] https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their/comment/54340792
|
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[70] https://substack.com/profile/58303485-ralph-haygood
|
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[71] https://substack.com/profile/58303485-ralph-haygood
|
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[72] https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their/comment/54384920
|
||||
[73] https://obamawhitehouse.archives.gov/the-press-office/2014/06/09/remarks-president-opportunity-all-making-college-more-affordable
|
||||
[74] https://www.buzzfeednews.com/article/ryanmac/peter-thiel-and-donald-trump
|
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[76] https://davekarpf.substack.com/p/on-giant-piles-of-cash-and-their/comments
|
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[91] https://substack.com/privacy
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[92] https://substack.com/tos
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[93] https://substack.com/ccpa#personal-data-collected
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[94] https://substack.com/signup?utm_source=substack&utm_medium=web&utm_content=footer
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[95] https://substack.com/app/app-store-redirect?utm_campaign=app-marketing&utm_content=web-footer-button
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[96] https://substack.com/
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[103] https://enable-javascript.com/
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