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Erik Moeller

Incidentally, I found it somewhat amusing to discover that before executives started talking about "blue sky thinking", the term "blue sky" in a business context was primarily associated with fraudulent business ventures, which led to "blue sky laws" to protect investors.

I don't think Bluesky is a fraudulent venture, but I also don't think it is anymore imaginative than the modern use of the term in C-suites. It is simply business as usual -- blue sky, incorporated.

From https://www.investopedia.com/terms/b/blueskylaws.asp

History of Blue Sky Laws

The term "blue sky law" is said to have originated in the early 1900s, gaining widespread use when a Kansas Supreme Court justice declared his desire to protect investors from speculative ventures that had "no more basis than so many feet of 'blue sky.""

In the years leading up to the 1929 stock market crash, such speculative ventures were rife. Many companies issued stock, promoted real estate, and other investment deals while making lofty, unsubstantiated promises of greater profits to come. There was no Securities and Exchange Commission (SEC), and little regulatory oversight of the investment and financial industry. Securities were sold without corroborating material evidence to support these claims. In some cases, details were fraudulently hidden to attract more investors. Such activities contributed to the hyper-speculative environment of the 1920s that led to inflation of the stock market before its inevitable collapse.
13 comments
Justin (koavf)

@eloquence I recently posted on the topic, by way of the Electronic Frontier Foundation: mastodon.social/@koavf/1137230

Erik Moeller

When speaking of scams, I often think about the 1973 novel "Momo" by Michael Ende. In it, cigar-smoking beings with grey skin in grey business suits persuade humans to "invest" their free time in a "Timesavings Bank". It's a scam: the Greys literally smoke people's time (the cigars!), robbing people of their rest, their imagination, their lives.

In the real world, we, too, have fallen for a scam: the idea that if we place our faith in "the system", things will work out. They will not.

Erik Moeller

We can imagine a world where every news organization has a fediverse server just like they have a webserver; where governments communicate through open protocols with the people who put them in power; where new kinds of cooperatives will arise naturally because the infrastructure is _built_ for cooperation.

The fediverse is not a bunch of magic beans; it's built by people, after all. But it's much more fertile ground for the imagination than any other experiment in social media.

XauriEL Zwaan

@eloquence this is literally the premise of the sci-fi novel I'm writing right now

XauriEL Zwaan

@eloquence For more detail, it's a solarpunk story about the war against eco-fascism and climate change. The system in question is called OpenFederation: a decentralized web application for organizing direct democracy, mutual aid, and autonomous anarchist cooperatives.

Strypey

@XauriEL
> The system in question is called OpenFederation: a decentralized web application for organizing direct democracy, mutual aid, and autonomous anarchist cooperatives

Can't imagine where you got the inspiration for this ... 😆

@eloquence

non-binary diety of spring Liliana

@eloquence I'd rhather governments stopped existing instead of using the fediverse tbh

Didzis 🇱🇻🇺🇦

@eloquence Momo is such a cool book 🤍 Read it years ago when still was a kid and still think about its concept time and time again

Strypey

@eloquence
> When speaking of scams, I often think about the 1973 novel "Momo" by Michael Ende

A fantastic novel. Like the books of His Dark Materials, or the Narnia books, enjoyable by both children and adults.

Strypey

My first experience with Ende's storytelling was indirect, through the movie adaption of The Neverending Story, and its (inferior) sequel. But when I was reading an English translation of the original novel about a decade ago, a friend asked me if I'd read Momo, and recommended it.

Pēteris Krišjānis

@eloquence it's perfect book about how we are lied about that we are short of time and that we should make up for it, not take time to enjoy life. It is 'productivity' anti thesis.

Michael Ende is one of my heros. Neverending story and Momo are such a highlights of my childhood. Definitely a formative for my mind.

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