I Think The Industry Can Probably Self-correct

Imagine If You Had Baseball Cards That Showed All The Performance Stats For Your People: Batting Averages, Home Runs, Errors, Eras, Win/loss Records. You Could See What They Did Well And Poorly And Call On The Right People To Play The Right Positions In A Very Transparent Way.

To Have An Idea Meritocracy, One Needs To Do Three Things. First, They Have To Put Their Honest Thoughts On The Table, For Everyone To Look At And Everyone To Work Through. Second, They Need To Have Thoughtful Disagreement, By Which There Are Quality Exchanges, In Which There's Open Mindedness And The Realization That No One Has All The Right Answers. And You Can Work Through That And Get To Better Answers Because Good Collective Decision Making Is Better Than Any Individual Decision Making. And Third, You Have To Have Ways Of Getting Past The Disagreements If They Remain.

There Is A Strong Tendency To Get Used To And Accept Very Bad Things That Would Be Shocking If Seen With Fresh Eyes.

When You're Faced With A Choice, You Have One Of Three Choices That You Can Have. You Can Have Those With Power Decide. You Can Have One Man, One Vote. Or You Can Have Believability-weighted Decision-making.

If Inflation-adjusted Interest Rates Decline In A Given Country, Its Currency Is Likely To Decline.