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Pluralistic: AI solipsists and AI cynics (24 Jul 2026)


Today's links



A carny barker waving his top-hat and selling tickets from a roll; his head has been replaced with the hostile red eye of HAL9000 from Kubrick's '2001: A Space Odyssey.' The background is a magnified, halftoned detail from a US$100 bill.

AI solipsists and AI cynics (permalink)

As a technology, AI isn't exceptional. It's not exceptionally wicked. It's not exceptionally good. Take away the accompanying, galactic-scale stock-swindle, and we'd call AI's applications "plug-ins" and we'd use them and abuse them in the same way that we've used every other technology:

https://www.normaltech.ai/

As a destructive economic pathology, AI is extraordinary. AI boosters have spent a baffling and terrifying sum of money – over $1.4T, most of that in the past year – on the promise of making as many workers unemployed as possible, while lowering the wages of the meager survivors of this jobspocalypse. To make things worse, AI can't do the jobs it's replacing: AI is predicated on the premise that the monopolies, duopolies and cartels that control the global economy can deliberately worsen their products without suffering economic or regulatory consequences, because they're the only game in town.

In service to this bubble, AI companies have suborned regional governments into running roughshod over environmental and planning review in order to build endless acres of data centers, many of which will likely end up casualties of the imminent bubble-pop, never to be switched on or even completed. What an indignity to have your farm or house seized through eminent domain, only to see it razed and replaced by a weed-choked empty field, a lonely foundation slab, or an abandoned empty building that could only ever be repurposed for laser-tag or an ICE concentration-camp:

https://gizmodo.com/trump-on-data-centers-you-cant-fight-it-you-have-to-go-with-it-2000790014

This is just one of the many negative effects of AI that can be traced to the scale of the bubble. Were it not for the imperative to turn more than a trillion dollars of losses into a profit, we would not have the aggressive, site-destroying scraping epidemic. Nor would we see AI crammed into every part of every product and service we use. And of course, in the absence of the investment bubble, businesses wouldn't be firing productive workers and replacing them with defective chatbots.

The single most salient fact about AI is the investment bubble, not the technical characteristics of chatbots or recent advances in statistical inference. AI's investor story is an incoherent tangle of predictions about AI's future, ranging from the outlandish ("Once we spend enough money, AI will become God and solve all our problems, including our profitability crisis") to the dystopian ("The majority of jobs in the economy will be done by our chatbots, and the employers who previously employed those workers will split the wage savings with us").

None of these stories are plausible, which raises an urgent question: why have the world's wealthiest investors been so eager to hand over trillions to finance this bubble?

I have previously written about one reason that billionaires find the AI story so compelling: at root, many billionaires just don't believe most other people are actually, fully real. How could they? Achieving billionairehood requires that you inflict pain on vast numbers of people. If you truly believed that those people were as real as you are, you'd never be able to look yourself in the mirror. Whether it's Leona Helmsley's claim that "only the little people pay taxes," or Elon Musk's habit of calling people who disagree with him "NPCs," the whole ideological project of billionaireism is shot through with a kind of solipsism:

https://pluralistic.net/2026/01/05/fisher-price-steering-wheel/#billionaire-solipsism

This is true even in one-on-one encounters: for the Epstein Class, the children raped on his island weren't fully real – certainly not as real as their own children. It's even more true for the people that billionaires experience as statistical artifacts, such as Jeff Bezos's vast army of drivers and warehouse workers, with their sky-high on-the-job injury rates and the everyday indignity of their piss-bottles. It gets worse for social media bosses like Mark Zuckerberg, for whom AI's principal appeal is the prospect of ending socializing on social media, swapping your mulish friends for pliable chatbots who will organize their interactions with you to maximize your platform usage and thus the number of ads you see:

https://pluralistic.net/2026/01/19/billionaire-solipsism/#sirius-cybernetics

I think billionaire solipsism can account for much of the malinvestment in this obvious bubble, but I don't think it's the whole story. Rather, I think there's a whole cohort of investors who don't believe in AI, but believe that other people will believe in AI.

This is a well-established investment principle. As Keynes wrote, the point of investing isn't necessarily to pick the most beautiful contestant to win the beauty contest – it's to pick the contestant that the other judges will hand the crown to:

https://en.wikipedia.org/wiki/Keynesian_beauty_contest

In other words, you don't get rich from stock speculation by identifying the businesses whose profitability will grow the most – you get rich by identifying the businesses that other investors will pile into, pushing the price up. All you need to do is sell your shares after the price spike, but before anyone else figures out that the business is a turkey. It's like that old joke: "I don't need to run faster than the bear (market), I just have to run faster than you."

From the perspective of a cynical AI investor, the question isn't, "Can AI do your job?" The question is, "Can an AI salesman convince your boss that an AI can do your job?" So long as enough bosses are convinced to fire workers and replace them with AI, AI valuation will continue to climb, and if they time the market right, they can get out before those valuations crash. This proposition gets even sweeter if the CEO of the AI company is in bed with financial regulators and stock exchanges, and can force your financial advisor to buy his worthless AI stock with "little people's" retirement savings:

https://fortune.com/2026/06/13/spacex-stock-index-funds-passive-investing-401k-nasdaq-100-russell/

A bet that bosses will fire workers and replace them with AI is a good wager. Bosses are absolute suckers for this scam. Bosses hate the fact that they can't translate their plans into action without first having a series of ego-shattering confrontations with workers who actually know how to do things, who insist that those plans are illegal, stupid, impossible or will kill people:

https://pluralistic.net/2026/03/12/normal-technology/#bubble-exceptionalism

For these bosses, AI is the chance to wire the toy steering wheel they play with all day directly into the corporate drive-train. With enough AI slaves, the boss can run the company all on their own:

https://pluralistic.net/2026/07/10/posthuman-as-in-no-humans/#hell-is-other-people

In other words, you don't need to be a solipsist to bet on AI. It is sufficient to believe that bosses are solipsists, who can be relied upon to empty the corporate coffers in exchange for worker-replacing magic beans.

This is true in many scam sectors. I'm sure that most of the people who finance the supplements that Andrew Tate and Joe Rogan hawk understand that they're just a way to give yourself very expensive piss. They don't have to believe supplements work to believe that there is an army of desperate and credulous young men who will give anything for the promise they dangle.

Likewise, you don't have to believe that Gwyneth Paltrow can help women "regulate their periods" and "correct their hormonal imbalances" by selling them rocks to stuff in their vaginas. You just have to believe that between patriarchy-induced body shame and patriarchy-driven medical neglect, there's an army of desperate women out there who will buy those rocks and risk their lives by sticking them inside their bodies:

https://web.archive.org/web/20181225035739/https://www.vogue.com/article/goop-jade-yoni-egg-lawsuit-gwyneth-paltrow-vaginal-pelvic-floor-health

AI is even worse than vagina-rocks, of course. When the bubble bursts, when the seven AI companies that make up 35% of the S&P 500 tank, when a third of the US stock market is vaporized overnight, our governments will reflexively turn to austerity, the go-to response to every financial crisis. Austerity is fascism's best recruiting tool:

https://pluralistic.net/2026/04/12/always-great/#our-nhs

When the AI bubble bursts, the defective chatbots that replaced skilled workers will disappear with it, leaving us scrambling to get that work done after the workers who understood it have retrained, retired, or exited the workforce. AI is the asbestos we're shoveling into the walls of our civilization and our descendants will be digging it out for generations:

https://pluralistic.net/2026/04/08/process-knowledge-vs-bosses/#wash-dishes-cut-wood

Long after the AI bubble bursts, we'll be dealing with its catastrophic carbon emissions. The Second Law of Thermodynamics isn't up for debate. Once we sink enough therms into the sea, we are losing the ice-caps.

AI is an ordinary technology, but the AI bubble is extraordinary: extraordinarily toxic and extraordinarily dangerous. The source of that danger is financiers, and they are motivated by a mix of solipsism and a belief in other people's solipsism. For them, the most exciting investment hypothesis is that "hell is other people":

https://locusmag.com/feature/commentary-cory-doctorow-hell-is-other-people/

(Image: Cryteria, CC BY 3.0, modified)


Hey look at this (permalink)



A shelf of leatherbound history books with a gilt-stamped series title, 'The World's Famous Events.'

Object permanence (permalink)

#25yrsago Stolen, infected computer transmits its location by virus spamming owner's address book https://slashdot.org/story/01/07/25/1510213/tracking-a-thief-via-the-sircam-virusa

#15yrsago Γ‡urface: an industrial surface made from compressed coffee and melted coffee cup https://memex.craphound.com/2011/07/25/curface-an-industrial-surface-made-from-compressed-coffee-and-melted-coffee-cups/

#15yrsago Samsung Galaxy Tab 10.1: Android iPad-killer is a poorly thought-through disappointment https://www.theguardian.com/technology/2011/jul/25/why-samsung-galaxy-tab-is-meh

#15yrsago Strange tunnels of Austro-Germany https://web.archive.org/web/20120621155245/https://www.spiegel.de/international/zeitgeist/hideouts-or-sacred-spaces-experts-baffled-by-mysterious-underground-chambers-a-775348.html

#15yrsago BitCoin alternative: distributed, but not decentralized cash https://www.links.org/files/distributed-currency.pdf

#10yrsago Bruce Schneier on the coming IoT security dumpster-fire https://web.archive.org/web/20160725221959/https://motherboard.vice.com/read/the-internet-of-things-will-cause-the-first-ever-large-scale-internet-disaster

#10yrsago Our public health data is being ingested into Silicon Valley’s gaping, proprietary maw https://web.archive.org/web/20170917070322/http://www.nature.com/news/stop-the-privatization-of-health-data-1.20268

#5yrsago Amusement parks, crowd control and load-balancing https://pluralistic.net/2021/07/25/now-youve-got-two-problems-part-iii/


Upcoming appearances (permalink)

A photo of me onstage, giving a speech, pounding the podium.



A screenshot of me at my desk, doing a livecast.

Recent appearances (permalink)



A grid of my books with Will Stahle covers..

Latest books (permalink)



A cardboard book box with the Macmillan logo.

Upcoming books (permalink)

  • "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027
  • "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

  • "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2027

  • "The Memex Method," Farrar, Straus, Giroux, 2027



Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Fourth draft completed. Submitted to editor.

  • A Little Brother short story about DIY insulin PLANNING

This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

https://creativecommons.org/licenses/by/4.0/

Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.


How to get Pluralistic:

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Pluralistic.net

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https://pluralistic.net/plura-list

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https://mamot.fr/@pluralistic

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https://bsky.app/profile/doctorow.pluralistic.net

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"When life gives you SARS, you make sarsaparilla" -Joey "Accordion Guy" DeVilla

READ CAREFULLY: By reading this, you agree, on behalf of your employer, to release me from all obligations and waivers arising from any and all NON-NEGOTIATED agreements, licenses, terms-of-service, shrinkwrap, clickwrap, browsewrap, confidentiality, non-disclosure, non-compete and acceptable use policies ("BOGUS AGREEMENTS") that I have entered into with your employer, its partners, licensors, agents and assigns, in perpetuity, without prejudice to my ongoing rights and privileges. You further represent that you have the authority to release me from any BOGUS AGREEMENTS on behalf of your employer.

ISSN: 3066-764X

Pluralistic: Why aren't AI companies competing directly with their customers? (13 Jul 2026)


Today's links



Three gold rush miners standing around a mule wagon piled high with mining supplies. They are surmounted by a Gold Rush-era advertisement reading 'GOLD MINING will be the leading business in the Northwest this year/EVERY MERCHANT can be prepared to supply his customers and keep his Profits and Money at home by inspecting/OUR LINE. It is complete. Send for our prices. Prompt shipments made.' The three miners' heads have been replaced with the heads of robots ganked from old pulp sf magazines. In the background a young man is performing a joyous headstand. The image has been sepia-toned.

Why aren't AI companies competing directly with their customers? (permalink)

"I often wonder what the Vintners buy/One half so precious as the Goods they sell" -The RubΓ‘iyΓ‘t of Omar KhayyΓ‘m

I first encountered that quote from someone extolling the virtues of bookstores, and it stuck with me, because for most of my childhood, every bookstore visit ended with me broke and wishing I'd had three times as much to spend.

As a larval hyperlexic, I just didn't understand what a bookseller could possibly buy with my money that was better than the books they already had? Of course, then I became a bookseller and discovered that Sturgeon's Law ("90% of everything is shit") applies to a bookstore's wares as much as it does to anything else. I also acquired a monthly rent obligation and discovered just how important money could be.

Nevertheless, Omar KhayyΓ‘m's question stuck with me, especially when I fell down a years-long rabbit-hole of learning about scams and the finance sector (but I repeat myself). Every get-rich-quick schemer will tell you that they've found the infinite money hack, which they will sell to you for a remarkably reasonable sum. Likewise, every stock picker claims they can outperform a simple low-load index fund, and all they ask of you is a few hundred basis points in exchange for multiplying your wealth beyond the dreams of Creosote. Neither one has a good answer to KhayyΓ‘m's question: if you can make all the money with your amazing system, why do you need my money?

This is a question that needs to be forcefully put to AI hucksters. In their more expansive moments, the Altmans and Amodeis of the world will tell you that they're planning to teach the word-guessing program so many words that it will wake up and become god. DOGE's broccoli-haired brownshirts laughed in the faces of the NIH lifers who begged them not to vaporize their long-running cancer research projects: "General AI is around the corner and it's going to cure cancer. Cancer research is a waste of money!"

Which all raises the question: if you've truly incubated a foetal demiurge in your "AI lab," why are you offering to sell it to me? What do the AI hucksters buy/One half so precious as the Gods they sell?"

Of course, they might answer, "We need your money now so we can make god later." That's why they want your boss to fire you and replace you with their chatbots and split your wages with your former employer. But this just raises the same question: if you have a chatbot that can do a doctor's job, why sell it to a hospital? Why not just open your own hospital? If you've got a chatbot that can do a tax accountant's job, why sell it to a tax-prep service? Why not just open a tax-prep service? If you've got a chatbot that can teach my kids, why sell it to my local school district? Why not just open a school?

If the chatbot can do the job, and if the chatbot costs less than the worker who does the job today, then the chatbot company can profitably sell services more cheaply than anyone who presently employs that worker, because the chatbot company already owns the chatbot. If you were really on a glide path to creating an all-powerful deity and just needed cash to keep the venture going until the cancer-curing word-guesser awoke from its long slumber, then wouldn't you want as much cash as possible? Why would you voluntarily split the take with some sucky, washed, non-god-generating business from before 2022?

I think the only reason this question doesn't come up more frequently is that we're stewing in what Douglas Rushkoff calls the "go meta" economy, in which the most respectable and smartest business to operate must be as many abstraction layers away from real work as possible. Don't drive a taxi, own a medallion that you rent to the cab driver. Don't own a medallion, start a "rideshare" company. Don't start a rideshare company, invest in a rideshare company. Don't invest in a rideshare company, buy options to invest in a rideshare company:

https://pluralistic.net/2022/09/13/collapse-porn/#collapse-porn

The inverse relationship between doing something useful and making money is deeply ingrained in our economic wisdom. Take the world of online grifters, who don't just peddle get-rich-quick PDFs, they also peddle tools to generate get-rich-quick PDFs, as well as tools to steal other "wealth influencers'" insta videos and deepfake yourself into their pretend private jets:

https://www.404media.co/how-i-bought-a-private-jet-by-selling-10-subscriptions-to-404-media/

The scam economy boasts a bewildering array of ancillary services, like a $150/month service that lets you produce fake screenshots showing vast monthly income on other scam services (November Kelly calls this "The world's most expensive 'inspect element'"):

https://www.patreon.com/trashfuture/posts/faux-high-level-163443872

It's an old truism that in a gold rush, the only people who come out ahead are the people selling the picks and shovels. But that's not true – there's even more money to be made wholesaling picks and shovels to the retailers who operate the frontier mercantiles. Go meta!

https://commons.wikimedia.org/wiki/File:Alaskan_Gold_Mining_Supplies_(1897)_(ADVERT_277).jpeg

Today's economy is dominated by pick-and-shovel wholesalers. America is a gerontocracy drowning in MBAs, while there's no one to do eldercare:

https://www.msn.com/en-us/news/us/why-recruiters-can-t-find-workers-and-new-grads-can-t-find-jobs-it-s-not-ai/ar-AA27K57y

So it's not surprising that we don't ask why these AI god-botherers need our stupid money while they're immanentizing the eschaton. Why would they operate a hospital if they could go meta and sell the doctorbots to the MBAs running the hospital?


Hey look at this (permalink)



A shelf of leatherbound history books with a gilt-stamped series title, 'The World's Famous Events.'

Object permanence (permalink)

#25yrsago Pro-lumber industry spoof of The Lorax https://web.archive.org/web/20010721042828/http://www.forestcouncil.org/news/articles/truax1.htm

#25yrsago Remixable vocal tracks from the next Public Enemy release https://web.archive.org/web/20010813195140/http://www.slamjamz.com/slamnews.php?article=7

#20yrsago Wikipedia creates RSS for its posts https://web.archive.org/web/20060718103013/http://www.micropersuasion.com/2006/07/wikipedia_entir.html

#20yrsago Anti-DRM picture-book https://web.archive.org/web/20060721095740/https://dustrunners.blogspot.com/2006/07/pig-and-box.html

#10yrsago The US has spent $122B training foreign cops and soldiers in 150+ countries, but isn’t sure who https://web.archive.org/web/20160713145824/https://theintercept.com/2016/07/13/training/

#10yrsago German free school teaches without grades, timetables or lesson plans https://www.theguardian.com/world/2016/jul/01/no-grades-no-timetable-berlin-school-turns-teaching-upside-down

#10yrsago For the first time, a federal judge has thrown out police surveillance evidence from a β€œStingray” device https://www.rawstory.com/2016/07/federal-judge-throws-out-evidence-gathered-with-stingray-cell-phone-tracker/

#10yrsago Day on a Device: art made by screenshotting a multitasker’s screen with each context-switch https://www.theverge.com/2016/7/13/12170526/multitasking-phone-laptop-pierre-buttin-art

#10yrsago Remarkably Normal: the true stories of abortion in America https://web.archive.org/web/20160810092901/http://jezebel.com/the-vagina-monologues-but-for-abortion-1783289270/amp

#10yrsago Theresa May performs the Fresh Prince of Bel-Air theme https://www.youtube.com/watch?v=xv7Jd94bnOI

#10yrsago UK Labour’s dirty trick excludes 130,000 members from leadership vote https://web.archive.org/web/20160712225142/http://www.itv.com/news/2016-07-12/corbyn-opponents-try-to-fix-vote/

#10yrsago Security researchers: the W3C’s DRM needs to be thoroughly audited https://www.eff.org/deeplinks/2016/06/call-security-community-w3cs-drm-must-be-investigated

#10yrsago Help Doctors Without Borders fill in the geodata blanks for vulnerable communities https://missingmaps.org/blog/2016/07/14/mapswipe/

#10yrsago Sign a book of congratulations for America’s new Librarian of Congress https://web.archive.org/web/20160718023555/https://action.everylibrary.org/congratulate_carla_hayden_today

#10yrsago Hungary’s Cold War cartoons were weird and awesome https://globalvoices.org/2016/07/14/the-fascinating-world-of-cold-war-era-hungarian-cartoons/

#10yrsago The ACLU has a roadmap for defeating President Donald Trump’s signature initiatives https://web.archive.org/web/20160715131734/https://action.aclu.org/sites/default/files/pages/trumpmemos.pdf

#10yrsago America’s infrastructure debt is so bad that towns are unpaving roads they can’t afford to fix https://web.archive.org/web/20160713170836/https://www.wired.com/2016/07/cash-strapped-towns-un-paving-roads-cant-afford-fix/

#10yrsago It’s official: the Olympics result in the worst budget overruns of any megaproject https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2804554

#10yrsago Vivendi lobbyist appointed to run copyright for UN agency https://web.archive.org/web/20160717052135/http://keionline.org/node/2614

#10yrsago The long, racist history of Brexiteer Boris Johnson, the new UK Foreign Secretary https://www.bbc.co.uk/news/world-36792746

#5yrsago Facebook employees stalk users https://pluralistic.net/2021/07/14/who-watches-the-zuckmen/#pecksniffs

#5yrsago Semantic drift versus ethical drift https://pluralistic.net/2025/07/14/pole-star/#gnus-not-utilitarian


Upcoming appearances (permalink)

A photo of me onstage, giving a speech, pounding the podium.



A screenshot of me at my desk, doing a livecast.

Recent appearances (permalink)



A grid of my books with Will Stahle covers..

Latest books (permalink)



A cardboard book box with the Macmillan logo.

Upcoming books (permalink)

  • "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027
  • "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

  • "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2027

  • "The Memex Method," Farrar, Straus, Giroux, 2027



Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Fourth draft completed. Submitted to editor.

  • A Little Brother short story about DIY insulin PLANNING

This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

https://creativecommons.org/licenses/by/4.0/

Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.


How to get Pluralistic:

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Pluralistic.net

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https://mamot.fr/@pluralistic

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Tumblr (mass-scale, unrestricted, third-party surveillance and advertising):

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"When life gives you SARS, you make sarsaparilla" -Joey "Accordion Guy" DeVilla

READ CAREFULLY: By reading this, you agree, on behalf of your employer, to release me from all obligations and waivers arising from any and all NON-NEGOTIATED agreements, licenses, terms-of-service, shrinkwrap, clickwrap, browsewrap, confidentiality, non-disclosure, non-compete and acceptable use policies ("BOGUS AGREEMENTS") that I have entered into with your employer, its partners, licensors, agents and assigns, in perpetuity, without prejudice to my ongoing rights and privileges. You further represent that you have the authority to release me from any BOGUS AGREEMENTS on behalf of your employer.

ISSN: 3066-764X

Pluralistic: The Big Con (19 Jun 2026)


Today's links

  • The Big Con: Making the pile of shit bigger won't increase the number of ponies underneath it.
  • Hey look at this: Delights to delectate.
  • Object permanence: TVA v SETI@Home; Telemarketers v DHS batphones; Matt Stone's MPAA censorship memo; Stonehenge pocket watch; W3C v security research; Congressional mass-shooting response simulator; Dynastic wealth; Gig economy astroturf; Meta publishes your AI prompts.
  • Upcoming appearances: LA, Menlo Park, Toronto, NYC, Philadelphia, Chicago, London, Edinburgh, Sydney, Melbourne, Brighton, London, South Bend.
  • Recent appearances: Where I've been.
  • Latest books: You keep readin' em, I'll keep writin' 'em.
  • Upcoming books: Like I said, I'll keep writin' 'em.
  • Colophon: All the rest.



Charles Ponzi stands between two giant, weathered pyramids; his skin is dyed orange and he wears a Trump wig. He stands beneath a vast Amway logo. The scene is lit by stadium show floodlights and surrounded by pyrotechnics.

The Big Con (permalink)

Partway through Bridget Read's unmissable chronicle of pyramid ("multi-level marketing") schemes, Little Bosses Everywhere, there comes a dual revelation: no one is selling any product to end-users and no one knows it:

https://pluralistic.net/2025/05/05/free-enterprise-system/#amway-or-the-highway

That is to say, all the hustlers who have spent thousands of dollars on Mary Kay, Herbalife and Amway have failed to move any of their product (beyond a statistically insignificant number of sales to friends and family who quickly tire of being hustled and stop buying this substandard, overpriced junk). But none of these "entrepreneurs" knows it, or admits it to anyone – not their "downlines" (friends they've lured into the swindle), nor their "uplines" (friends who recruited them into the con).

Each pyramid scheme victim thinks that they're the only failure in the whole bunch. They go to massive "sales conferences" where people boast about all the sales they're making, and they're all lying about it. Incredibly, the pyramid schemers who run these criminal enterprises have figured out how to make a virtue out of this situation: they offer "sales coaching" courses to help people make the sales that "everyone else is making." In other words, once you've gone bust failing to sell Amway, they'll get you to go further into debt to learn how to correct the (nonexistent) issues with your sales strategy so that you can join the (imaginary) legion of people who sell Amway by the bushel.

Con artists have a name for this kind of swindle: it's called a "big con," which is when everyone a mark comes into contact with is in on the scam. Here's how the big con worked: after a "roper" snared a victim (usually on an intercity train), they would telegraph ahead and let the home team know they had a live one. From that point forward, every single person the victim came into contact with was in on it – from the porter who collected his bags at the train station to the cab driver to the Western Union clerk he uses to cable his banker and ask for a cashier's check for his life's savings.

In the big con, dozens of skilled actors are putting on a play for an audience of one: you. It's a real-world, non-hallucinatory version of "gang stalking delusion," which is when someone going through a mental health crisis believes that everyone they meet is in on a conspiracy to drive them crazy:

https://pluralistic.net/2026/06/03/mission-space/#gsd

The situation that people suffering from GSD hallucinate is actually happening to people ensnared in a big con…and pyramid schemes are a big con. What's more – as Read's book makes clear – you can't understand modern American politics without understanding pyramid schemes.

One of the most destructive pyramid schemes in American history is Amway. The FTC was about to shut Amway down in the mid-1970s, but then Nixon resigned and Ford became president. Ford had been the Congressman to Amway's founders Jay Van Andel (then the head of the US Chamber of Commerce, which is to say, America's most powerful business lobbyist) and Dick DeVos (yes, that DeVos). Ford and the Amway swindlers were thick as thieves, and so Ford called off the FTC. Rather than going to jail, DeVos and Van Andel became morbidly wealthy, and they used some of their stolen money to found and fund the Heritage Foundation (yes, that Heritage Foundation).

The political class running America are pyramid scheme swindlers, funded by pyramid scheme money. They're running a big con on all of us. That's true of the Trumps, who've excreted a diarrhoeic slurry of shitcoins that have made them billions – and lost billions for their "investors":

https://www.citationneeded.news/issue-106/

Trump insists that he is a self-made man who made his money with successful real estate deals. In reality, he lied all the time about his real estate, committing a string of felonies in order to defraud the banks, even as he went bankrupt, time and again:

https://en.wikipedia.org/wiki/Prosecution_of_Donald_Trump_in_New_York

Another "self made man" is Elon Musk (who is a "trillionaire," in a highly technical sense meaning "not a trillionaire at all"). Musk would have been broke several times over but for a string of massive government bailouts and subsidies, which continue to this day:

https://www.congress.gov/119/meeting/house/117956/documents/HMKP-119-JU00-20250226-SD003.pdf

Trump, Musk, and the rest of the schemers in the pyramid routinely claim that they are wealthy because they are running good businesses, a "fact" that many of us accept at face value. It's bad enough that we are deceived about reality, but many of their most addled cult-members try to follow in their footsteps. When they fail, they are in the same situation as one of those busted Amway sellers: thinking they are the only ones who can't make this "sure thing" work. Conservativism is a movement of bitter rubes, led by pyramid scheme swindlers:

https://pluralistic.net/2025/07/22/all-day-suckers/#i-love-the-poorly-educated

The "wait, is everyone else also failing?" awakening is an experience that many of America's CEOs are sharing at this moment, as they wonder whether they are the only ones who've fired as many workers as possible and replaced them with AI, only to see their company's fortunes fall:

https://www.msn.com/en-us/money/markets/uber-ceo-says-other-execs-are-lying-about-ai-they-say-it-ll-be-fine-publicly-but-privately-admit-millions-of-jobs-are-gone/ar-AA1Z9QMv

Like an Amway victim, these boardroom rubes simply can't believe that all these people could be in on the con. How could the world spend trillions on AI if it's not on a path to profitability? It's not that these guys spent 2008 in a cave – rather, they just lack the object permanence to remember the last time a "Federal Wallet Inspector" approached them at a board meeting and took them for everything:

https://pluralistic.net/2025/12/13/uncle-sucker/#willing-marks

The thesis that "it can't be nonsense if there's a lot of money at stake" is the core of so many of these swindles. It's the investment theory that holds that once a pile of shit gets big enough, there must be a pony under it somewhere.

There's a Bugs Bunny bit that I find myself returning to in this era of the big con: it's a gag from 1954's "Bugs and Thugs":

https://en.wikipedia.org/wiki/Bugs_and_Thugs

Bugs has been kidnapped by gangsters, who have come to trust him. He tricks them into thinking that the police are coming and he urges them to hide in the oven while he sends the cops away. Then, Bugs performs a one-rabbit show in which he plays both the cop (with a broad Irish accent) and himself:

Bugs (cop voice): All right, open up! This is the police! [banging] All right, where's Rocky, where's he hiding?

Bugs (normal voice): He's not in this stove.

Bugs (cop): Oh-ho, he's hidin' in that stove, eh?

Bugs (normal): Now look, would I turn on this gas if my friend Rocky was in there?

Bugs (cop): You might, rabbit, you might.

Bugs (normal) Would I throw a lighted match in there if my friend was in there? [Massive explosion]

Bugs (cop): Well, all right, rabbit, you've convinced me. I'll look for Rocky in the city.

https://www.youtube.com/watch?v=LSNTjX_g9a4

We keep living through real world versions of this:

"Would I, Mark Zuckerberg, change my company's name to 'Meta' if I wasn't serious about this?"

"Oh, you might, Zuck, you might."

"OK, but would I spend $61b on the metaverse if I wasn't serious about this?"

"All right, Zuck, you've convinced me. I won't sell my Facebook (oops, I mean 'Meta'!) shares."

But neither Zuck nor Musk nor Trump has the charm of Bugs Bunny. At a certain point we're all going to look at each other and say, "It was all bullshit, wasn't it?"


Hey look at this (permalink)



A shelf of leatherbound history books with a gilt-stamped series title, 'The World's Famous Events.'

Object permanence (permalink)

#25yrsago TVA bans SETI@Home https://web.archive.org/web/20010625113535/https://www.knoxnews.com/archives/browserecent/06162001/archives/31399.shtml

#25yrsago Scott McCloud on microtransactions and Napster https://web.archive.org/web/20010708054658/http://www.thecomicreader.com/html/icst/icst-6/icst-6.html

#20yrsago Wardialling telemarketers stumble on Homeland Security batphones https://web.archive.org/web/20060630104202/https://www.delawareonline.com/apps/pbcs.dll/article?AID=/20060616/NEWS/606160329/1006

#20yrsago NAB: Evidence is irrelevant to copyright treaties https://web.archive.org/web/20060622174657/https://drn.okfn.org/node/133#comment-246#comment-246

#20yrsago LA Times censors newsroom Internet feed https://web.archive.org/web/20060702051259/http://www.laobserved.com/archive/2006/06/protecting_reporters_from.html

#20yrsago Matt Stone’s memo to MPAA censors https://web.archive.org/web/20060619220447/https://www.mcnblogs.com/thehotblog/archives/2006/06/preparing_for_t.html

#20yrsago Stonehenge pocket-watch predicts solstices https://web.archive.org/web/20060627053213/http://www.thinkgeek.com/gadgets/watches/7d2b/

#15yrsago Mean things authors say about each other https://www.flavorwire.com/188138/the-30-harshest-author-on-author-insults-in-history

#15yrsago Glasses with 720p HD video camera https://www.kickstarter.com/projects/zioneyez/eyeztm-by-zioneyez-hd-video-recording-glasses-for

#15yrsago ICANN votes to roll out 400-800 new generic top-level domains https://www.flickr.com/photos/wseltzer/5852419280/

#10yrsago W3C DRM working group chairman vetoes work on protecting security researchers and competition https://lwn.net/Articles/691108/

#10yrsago Thoughts and Prayers: a Congressional mass-shooting simulator https://thoughtsandprayersthegame.com/

#5yrsago The doctrine of dynastic wealth https://pluralistic.net/2021/06/19/dynastic-wealth/#caste

#5yrsago The gig economy's dark-money, astroturf "community groups" https://pluralistic.net/2021/06/19/dynastic-wealth/#astroturf

#1yrago Your Meta AI prompts are in a live, public feed https://pluralistic.net/2025/06/19/privacy-breach-by-design/#bringing-home-the-beacon


Upcoming appearances (permalink)

A photo of me onstage, giving a speech, pounding the podium.



A screenshot of me at my desk, doing a livecast.

Recent appearances (permalink)



A grid of my books with Will Stahle covers..

Latest books (permalink)



A cardboard book box with the Macmillan logo.

Upcoming books (permalink)

  • "The Reverse-Centaur's Guide to AI," a short book about being a better AI critic, Farrar, Straus and Giroux, June 2026 (https://us.macmillan.com/books/9780374621568/thereversecentaursguidetolifeafterai/)
  • "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2026

  • "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027

  • "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

  • "The Memex Method," Farrar, Straus, Giroux, 2027



Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Third draft completed. Submitted to editor.

  • "The Reverse Centaur's Guide to AI," a short book for Farrar, Straus and Giroux about being an effective AI critic. LEGAL REVIEW AND COPYEDIT COMPLETE.
  • "The Post-American Internet," a short book about internet policy in the age of Trumpism. PLANNING.

  • A Little Brother short story about DIY insulin PLANNING


This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

https://creativecommons.org/licenses/by/4.0/

Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.


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READ CAREFULLY: By reading this, you agree, on behalf of your employer, to release me from all obligations and waivers arising from any and all NON-NEGOTIATED agreements, licenses, terms-of-service, shrinkwrap, clickwrap, browsewrap, confidentiality, non-disclosure, non-compete and acceptable use policies ("BOGUS AGREEMENTS") that I have entered into with your employer, its partners, licensors, agents and assigns, in perpetuity, without prejudice to my ongoing rights and privileges. You further represent that you have the authority to release me from any BOGUS AGREEMENTS on behalf of your employer.

ISSN: 3066-764X

Pluralistic: The (real) dead economy theory (17 Jun 2026)


Today's links

  • The (real) dead economy theory: Vibes and memestocks, all the way down.
  • Hey look at this: Delights to delectate.
  • Object permanence: Jim Baen has had a stroke; Blame Apple for iTunes DRM; France v the internet; "Rotters"; 1901 undersea cables; Washington Post wants Trump coverage blackout; Taxes are for the little people; Gamer lifecycle; Ghanian postal song; "What Lies Beneath the Clock Tower": Murder of Jo Cox; 12 year old doxed by anti-vaxers; Hong Kong bookseller recants forced confession.
  • Upcoming appearances: LA, Menlo Park, Toronto, NYC, Philadelphia, Chicago, London, Edinburgh, Brighton, South Bend.
  • Recent appearances: Where I've been.
  • Latest books: You keep readin' em, I'll keep writin' 'em.
  • Upcoming books: Like I said, I'll keep writin' 'em.
  • Colophon: All the rest.



The Federal Reserve building, tilted at an eldrirtch angle, wreathed in mist. In the foreground looms an abandoned cemetery. Overhead flies a blood-red moon in a cloudy, ominous sky.

The (real) dead economy theory (permalink)

Here's a fun fact about Elon Musk: in 2020, his (nominal) net worth was $20b, and today it's $1t (nominally). But that's not the fun fact; this is: everything he's done since 2020 was a flop.

As John Quiggin writes, the pre-2020 Musk was the Musk of Tesla, batteries and Starlink. The post-2020 Musk is the Musk of Starship, robotaxis, Cybertrucks and Twitter – a string of commercial flops and assets that literally exploded. I would add that post-2020 Musk created the world's hungriest money-furnace, an automated child-porn production tool called "XAI":

https://crookedtimber.org/2026/06/15/one-big-grift/

Quiggin declares that this is the era in which "financial markets fail in the task of valuing assets accurately," and "the institutional structures that are supposed to make them work have given up trying." Nor did this start with the Spacex IPO. As Quiggin writes, Bitcoin and other cryptos were once shunned by nominally sober financial institutions like Goldman Sachs, but today, not only do all the big banks offer crypto services, people have largely stopped calling it cryptocurrency because no one is even pretending that it's a form of money. It's a tradeable collectible, not even particularly useful for paying for crimes or laundering money.

Spacex is just a continuation of the logic of crypto, in which something is valuable because some people think other people will pay more for it in the future, and not because it does useful things:

https://johnquiggin.com/2018/02/09/bitcoin-kills-the-efficient-market-hypothesis/

That's the logic of the whole market today. AI – the world's money-losingest technology – attracts investment at the expense of everything else. When horrified NIH lifers begged the DOGE boys not to shut down long-running medical research projects, Musk's broccoli-haired brownshirts laughed in their faces, saying we don't need cancer research because "GAI" is almost here and it will cure cancer. You could hardly ask for a better example of investing in vibes over value than shutting down real cancer research to free up money for teaching more words to the word-guessing machine because it's about to become God and cure cancer.

Today, Goldman Sachs isn't merely all-in on crypto – it's all-in on the Spacex IPO. As Quiggin writes, the bank has signed off on Musk's claim that "Musk's ragbag of assets" will grow one hundredfold in the next 40 months.

Quiggin's short essay has been rolling around in my mind since I read it a couple days ago. Then, yesterday, I spotted this essay by Owen McGrann entitled "The Dead Economy Theory":

https://www.owenmcgrann.com/p/the-dead-economy-theory

The perfect name for this phenomenon! Or so I thought. Then I read McGrann's article, and discovered that it's yet another piece asking how the economy will work after AI takes all of our jobs because AI is absolutely going to do that and there's no point in even questioning whether that will happen.

Look, thought experiments about how to deal equitably with labor displacement in the face of automation are all well and good. I'm a science fiction writer, that stuff is my bread and butter.

But applying "dead economy theory" to the blithe acceptance of the claims of AI pitchmen is a terrible waste of a killer coinage. The true risk of AI to your job isn't: "an AI will do your job." It's: "an AI salesman will exploit your boss's infinite horniness for replacing mouthy workers with pliable machines to sell him a chatbot that can't do your job, and then your boss will fire you and replace you with that inept, defective chatbot."

By the same token: the real "dead economy" risk isn't that all the productive labor will be done by chatbots owned by a habitual liar and eminently guillotineable billionaire like Sam Altman. The actual dead economy risk is that our institutions and markets will continue to move capital from productive activity into memestocks, vibes, and bubbles.

We could do "AI cancer research" by producing tools that automate gnarly multivariant analysis problems for cancer researchers. But what we're actually doing is defunding cancer research (especially any research into "systemic" cancer because studying systemic things is "woke") to free up fiscal space so we can build data-centers and make Musk into a trillionaire.

That's not just a dead economy – it's one that'll kill everyone you love and everything that matters.


Hey look at this (permalink)



A shelf of leatherbound history books with a gilt-stamped series title, 'The World's Famous Events.'

Object permanence (permalink)

#20yrsago Jim Baen, science fiction publisher, has had a serious stroke https://nielsenhayden.com/makinglight/archives/007658.html#007658

#20yrsago Why Apple is to blame for iTunes DRM https://web.archive.org/web/20060620004534/http://vitanuova.loyalty.org/NewsBruiser-2.6.1/nb.cgi/view/vitanuova/2006/06/15/1

#20yrsago Lifecycle of a gamer https://www.raphkoster.com/2006/06/16/the-lifecycles-of-a-player/

#20yrsago Spammer: I’ll buy MySpace profiles with more than 20k contacts https://web.archive.org/web/20060619062837/http://skibrooklyn.blogspot.com/2006/06/easy-money-sell-your-friends.html

#20yrsago Psychology of bad probability estimation: why lottos and terrorists matter https://web.archive.org/web/20060627174933/https://server1.sxsw.com/2006/coverage/SXSW06.INT.20060311.DanielGilbert.mp3

#15yrsago Copyright complaint kills Peanutweeter https://web.archive.org/web/20110620093750/https://www.wired.com/underwire/2011/06/peanutweeter-dmca-takedown/

#15yrsago Work song of Ghanian postal workers cancelling stamps https://blogfiles.wfmu.org/KF/0512/Ghana_Post_Office.mp3

#15yrsago What Lies Beneath the Clock Tower: steampunk choose-your-own-adventure https://memex.craphound.com/2011/06/17/what-lies-beneath-the-clock-tower-steampunk-choose-your-own-adventure/

#15yrsago French proposal: any URL to be arbitrarily blacklisted without due process https://www.laquadrature.net/en/2011/06/15/the-entire-internet-under-governmental-censorship-in-france/

#15yrsago Rotters: YA horror novel about grave-robbing chills, thrills, delights https://memex.craphound.com/2011/06/15/rotters-ya-horror-novel-about-grave-robbing-chills-thrills-delights/

#15yrsago Map of undersea cables from 1901 https://web.archive.org/web/20110220121138/http://www.dephx.com/2010/11/map-of-undersea-cables-from-1901.html

#15yrsago Copyright complaint kills Peanutweeter https://web.archive.org/web/20110620093750/https://www.wired.com/underwire/2011/06/peanutweeter-dmca-takedown/

#15yrsago Work song of Ghanian postal workers cancelling stamps https://blogfiles.wfmu.org/KF/0512/Ghana_Post_Office.mp3

#15yrsago What Lies Beneath the Clock Tower: steampunk choose-your-own-adventure https://memex.craphound.com/2011/06/17/what-lies-beneath-the-clock-tower-steampunk-choose-your-own-adventure/

#10yrsago Supreme Court ruling is a blow to copyright trolling business-model https://arstechnica.com/tech-policy/2016/06/attorneys-in-copyright-case-on-resold-textbooks-inch-closer-to-2m-payday/

#10yrsago The Orlando shooting, according to the Congressmen who took the most money from the NRA https://web.archive.org/web/20160617143716/https://theslot.jezebel.com/heres-how-the-congressmen-who-have-gotten-the-most-cash-1782083985

#10yrsago British Pro-EU MP murdered in the street by man shouting β€œBritain first!” https://web.archive.org/web/20160616212235/https://theintercept.com/2016/06/16/british-referendum-campaign-suspended-killing-pro-europe-lawmaker-jo-cox/

#10yrsago 12 year old makes devastating video about anti-vaxxers, gets doxxed https://skepchick.org/2016/06/anti-vaxxers-dox-a-child-critic/

#10yrsago Report from the prison-industrial complex’s leading trade show https://www.theguardian.com/us-news/2016/jun/16/us-prisons-jail-private-healthcare-companies-profit

#10yrsago Your cable operator is spying on you and selling the data from your set-top box https://publicknowledge.org/public-knowledge-defends-consumer-privacy-in-set-top-box-data-complaint-to-fcc-ftc/

#10yrsago Not robots: youth unemployment caused by late retirement, driven by pension precarity https://thebaffler.com/salvos/exit-planning-geoghegan

#10yrsago Oakland mayor denies firing police chief over officers who statutorily raped teen sex-worker https://eastbayexpress.com/badge-of-dishonor-top-oakland-police-department-officials-looked-away-as-east-bay-cops-sexually-exploited-and-trafficked-a-teenager-2-1/

#10yrsago Paramount tells judge that they’re still suing over Star Trek fan-film https://www.hollywoodreporter.com/business/business-news/paramount-says-star-trek-fan-903497/

#10yrsago $40,000/year private school sues school for low-income kids for $2M over β€œCommonwealth” https://www.bostonglobe.com/metro/2016/06/16/can-school-lay-claim-commonwealth-its-name-back-bay-institution-believes-can/WHwiaaPEn04cIY6uxXjoiO/story.html

#10yrsago Wisconsin Congresswoman: mandatory drug tests for anyone claiming $150K in itemized tax-deductions https://www.theguardian.com/us-news/2016/jun/16/gwen-moore-drug-test-rich-for-tax-deductions

#10yrsago Hong Kong bookseller: I was forced to confess on China TV https://www.bbc.com/news/av/world-asia-china-36552672#5yrsago

#10yrsago Washington Post calls for β€œblackout” on Trump coverage, appeals to RNC https://web.archive.org/web/20160615113350/https://www.washingtonpost.com/opinions/the-right-response-to-donald-trump-a-media-blackout/2016/06/14/2868a0e0-3256-11e6-8758-d58e76e11b12_story.html

#10yrsago Security economics: black market price of hacked servers drops to $6 https://www.wired.com/2016/06/xdedic-server-trading-forum-kaspersky/

#10yrsago Lower-case β€œx” as a gender-neutral typographic convention https://kottke.org/16/06/x-marks-gender-neutral

#5yrsago Taxes are for the little people https://pluralistic.net/2021/06/15/guillotines-and-taxes/#carried-interest


Upcoming appearances (permalink)

A photo of me onstage, giving a speech, pounding the podium.



A screenshot of me at my desk, doing a livecast.

Recent appearances (permalink)



A grid of my books with Will Stahle covers..

Latest books (permalink)



A cardboard book box with the Macmillan logo.

Upcoming books (permalink)

  • "The Reverse-Centaur's Guide to AI," a short book about being a better AI critic, Farrar, Straus and Giroux, June 2026 (https://us.macmillan.com/books/9780374621568/thereversecentaursguidetolifeafterai/)
  • "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2026

  • "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027

  • "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

  • "The Memex Method," Farrar, Straus, Giroux, 2027



Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Third draft completed. Submitted to editor.

  • "The Reverse Centaur's Guide to AI," a short book for Farrar, Straus and Giroux about being an effective AI critic. LEGAL REVIEW AND COPYEDIT COMPLETE.
  • "The Post-American Internet," a short book about internet policy in the age of Trumpism. PLANNING.

  • A Little Brother short story about DIY insulin PLANNING


This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

https://creativecommons.org/licenses/by/4.0/

Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.


How to get Pluralistic:

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"When life gives you SARS, you make sarsaparilla" -Joey "Accordion Guy" DeVilla

READ CAREFULLY: By reading this, you agree, on behalf of your employer, to release me from all obligations and waivers arising from any and all NON-NEGOTIATED agreements, licenses, terms-of-service, shrinkwrap, clickwrap, browsewrap, confidentiality, non-disclosure, non-compete and acceptable use policies ("BOGUS AGREEMENTS") that I have entered into with your employer, its partners, licensors, agents and assigns, in perpetuity, without prejudice to my ongoing rights and privileges. You further represent that you have the authority to release me from any BOGUS AGREEMENTS on behalf of your employer.

ISSN: 3066-764X

❌