The Ungoverned

Thoughts on man and his universe
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  • David Veksler

How to prepare your life for the Technological Singularity Apr 22, 2017

If you believe that a technological singularity is coming in the 2030's, is there anything you can do now to prepare? Yes, plenty: Career: As increasing automation replaces rote human labor with machines, work that requires creativity, adaptability, and self-direction is becoming more valuable.  Expert systems will augment and then replace technicians, and deep understanding and expertise will fall in importance relative to broad cross-functional heuristics.  Engineering and programming will increasingly be performed by creatives working with high-level design tools, while algorithms work out the technical details.  "Employment" itself will become obsolete, and most work will be performed by either temp workers...

By David Veksler Vote10 2

Why you (probably) don’t need life insurance: how to self-insure your family Apr 6, 2017

I'm not categorically opposed to life (and most other kinds of) insurance, but if you follow good financial practices, you're better off self-insuring.  Self-insurance is essentially the idea that you assume a risk instead of paying an insurance company for the service, either by not taking out the policy at all, or selecting a high-deductible. This requires financial discipline and planning to keep sufficient savings to pay for emergencies. Here are my thoughts on why insurance doesn't make sense in most cases. I'll focus on life insurance, but it applies to many others. When (term) life insurance makes sense: I'll...

By David Veksler Vote4 0

Four income streams that young professionals should develop Mar 28, 2017

Whether you're making minimum wage or pulling down $250K per year, if your day job is your only source of income, you should start working on developing additional income sources. The biggest reason to do so is to start transitioning from working for your money, to making your money work for you: you need passive income sources which build wealth with minimal effort. While you might never want to retire, financial security (not being financially stressed by losing your job) is something you can achieve in your 20's, and financial independence (not needing to work a regular job at all...

By David Veksler Vote5 1

The myth of rising house prices Mar 26, 2017

One the biggest myths about buying a home is that it is an investment. An investment is an asset which tends to go up in market value over time. But consider what would happen if this were actually true: if home values increased faster than inflation, pretty soon no one could afford a home! In fact, home values for the most part barely keep up with inflation. The math is complicated by a number of factors: the size of homes keeps getting larger, so comparing the average home price now versus 30 years ago does not mean that any specific...

By David Veksler Vote2 0

Here’s why buying a home is a terrible idea for young professionals Mar 26, 2017

Here's the main reason why I don't think young professionals should buy a home: If I get fired or quit my job tomorrow, it won't be a big deal. I'm confident that of the seven billion people on this planet, there is a person or group somewhere who will find my skills valuable enough to pay me enough to support my family. It may take me some days, months or years, and take me to Kentucky, Seattle, Shanghai, or Kathmandu, but I have no loans, debts, or any other ongoing financial commitments, so my savings will last long enough until...

By David Veksler Vote8 2

The myth of America as a “Judeo-Christian” nation Mar 15, 2017

The term "Judeo-Christian" was invented in the 1940's as a response to the rise of Nazism and anti-Semitism in America. As a historical fact, the idea that America is a Judeo-Christian nation is nonsense. In many ways, America represents a rejection of Judeo-Christian values. At the time of the United States' founding, the vast majority of Christians and Jews lived in outside America - and they held very different moral values than Americans. Everything that defines America - the belief in the inalienable rights of the individual, the importance of property rights and free markets, equality before the law, and...

By David Veksler Vote4 0

Why most university degrees are worthless, Part 2 Feb 22, 2017

When I say that "most university degrees are worthless" I don't mean "no one should go to college" or "drop out of school now." I mean that the objective value of university degrees is more often than not negative. If governments stopped subsidizing higher education, the vast majority of young people and employers would find a way to match with each other without wasting four years. By this, I don't mean "in a theoretical utopia you don't need to go to school, but in the real world, you better start on your applications." The fact is that many, if not...

By David Veksler Vote2 0

A letter to my broker on the Fiduciary Rule and the repeal of Dodd Frank Feb 21, 2017

The CEO of my brokerage firm asked for my support in opposing the Trump administration's plan to roll back the Dodd Frank Act and the Fiduciary Rule for retirement accounts, which would require brokers for retirement accounts to act in their client's best interest. Sounds great, right? This is what I wrote in response:  Dear [CEO's Name], Please allow me to share a few thoughts on your request as a client of [Firm Name]: I appreciate that you believe that the Fiduciary Rule and the Dodd Frank Act are in the interests of consumers and the economy. I respectfully disagree....

By David Veksler Vote4 1

Make your job your primary focus in life Feb 20, 2017

Our culture has shifted away from viewing work as the main focus of people's lives.  Part of the cause is economic: most people no longer need to work hard in order not to starve to death on the streets. Furthermore, the differences between income levels is far less important: your friend might have $1 or $1 million in the bank without much noticeable difference in lifestyle, whereas it used to mean the difference between a poor house or a mansion. Another aspect of it is philosophical: we have lost the understanding that markets are responsible for civilization, and so place far...

By David Veksler Vote9 2

Why we need disruption now more than ever Feb 19, 2017

Ever since I discovered the importance of individual rights and the role of markets in human progress, my biggest fear about the fate of world has been not that things will get worse, but that we will muddle along with more of the same. My study of history led me to the conclusion that the rapid growth in the power of the State following the First World War reached some threshold in the late 1960s, and damned up (however imperfectly) human moral, social, artistic and technological progress in many ways.   I don't mean some sort of utopia, but the...

By David Veksler Vote5 2

Here is why most university degrees are worthless, Part 1 Feb 19, 2017

I needed a foreign language credit for my undergraduate, so I decided to take Russian, since I had grown up speaking it. So I took a Russian assessment test. It was harder than I expected, but I was still pretty surprised when told that I would have to start from scratch with Russian 101. When I challenged the head of the Russian language department, he asked me a series of grammar questions, which only confirmed the test results. So I took the few semesters of Russian needed for my degree. I got easy A’s – not because I was fluent in...

By David Veksler Vote7 4

Forget balancing checkbooks: three practices to help you learn financial responsibility Dec 16, 2016

What’s the first thing which comes to mind when you hear “personal finance”?  I bet it’s “balancing a checkbook.”    Do you know anyone who does it? I don’t. Like most people under the age of 40, the only checks I ever write to the government - to pay for taxes and speeding tickets.  Everyone else has moved on.  Like most Americans who don’t live in log cabin in the backwoods, I use a bank account and credit cards which keeps a record of all my transactions. No doubt a written records of transactions was essential during the first five...

By David Veksler Vote13 7

How I learned to stop worrying about my credit and love plastic Dec 4, 2016

Whether you’ve decided that you don’t need credit cards in your life, or stick to a single card you got in college, you’re making a big mistake. You need a proactive credit-building strategy. Here's what to do.

By David Veksler Vote14 7

20 things you can do on election day to improve your life Nov 8, 2016

While improving the world is a worthy goal, it is even more important to invest in yourself. Your life is the only one under your control, and setting an example for others is one of the best way to create positive change. Don’t get distracted by politics - no matter who you vote for, it will only leave you distracted, disillusioned and feeling more powerless than ever. You can act right now to improve your life in a million small ways, and become a model for others to do the same. Here are 20 ideas for becoming the change you...

By David Veksler Vote11 1

Financial success for young adults in 4 easy steps Oct 24, 2016

1: Apply for any credit card with no annual fee. When you receive it, cut it up and throw it away. Every year, apply for another no-fee card, tear it up, and ask to triple the limit on your existing cards. 2: Invest $25 using an app like Stash Invest. Doesn't matter in what, just pick any 10 stocks and keep them forever. Set it up to transfer $25 every month. Double the amount every year. 3: Don't buy a house. Pay cash for your car with the profit from your stocks. 4: Retire at 30.

By David Veksler Vote6 1

Five reasons why I’m boycotting the vote Oct 11, 2016

In short, here is why I won't vote: it is a waste of time, it will have no meaningful impact on the outcome even if my candidate wins, it sanctions a fundamentally immoral process, and any notion that third party candidate will make a difference is a fantasy.

By David Veksler Vote20 7

Why the FCC is wrong about Wi-Fi price gouging at the Trump-Clinton debate Sep 28, 2016

I have about as much interest in the Trump-Clinton debates as a contest between Hitler and Stalin.  However due to the complete absence of substantive policy issues to discuss, one of the stories to come out of the debate was that  Hofstra University was charging journalists $200 to access Wi-Fi at the event.  Many people were outraged by this, and FCC  commissioner Jessica Rosenworcel issued a statement: My office has asked the @FCC Enforcement Bureau to investigate, figure out what happened. cc: @cfarivar — Jessica Rosenworcel (@JRosenworcel) September 27, 2016 Something not right with the #WiFi situation at @HofstraU last night. Here's what #FCC...

By David Veksler Vote4 0

How to Pursue a Passion for Fun and Profit Sep 11, 2016

Most people aren't happy with their jobs. Rather than accepting that reality, people should do what they love, and eventually, they will be rewarded in ways nobody could have foreseen.

By David Veksler Vote15 1

Your house is not a spaceship: the whole world is your home Aug 30, 2016

San Antonio, Texas gets pretty damned hot during the summer.  Entire weeks of 100°F weather are not uncommon. People deal with the heat in two ways:   Some people spend the entire summer (which is 3/4ths of the year) in a climate bubble.  They wake up in their air-conditioned homes, get into their air conditioned cars to drive to their air-conditioned offices, shop at air-conditioned stores, and work out in air-conditioned gyms.  The only time they feel the heat are in the occasional transition zone of the parking lot.  My first job was a grocery store bagger - my role...

By David Veksler Vote22 1

Six principles of successful investors Aug 10, 2016

Most amateur investors who pick stocks significantly underperform the market. 90% of people who pick "winning" stocks do worse than if they picked them at random. There are many reasons for this: (1) your emotions will work against you -- you will be tempted to buy high and sell low, (2) even if you correctly identify a good stock, it is much harder to evaluate if it is already priced too high and (3) unless your have exceptional talent, the collective wisdom of the market will be superior to your predictions.

By David Veksler Vote9 1

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