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Cake day: July 7th, 2023

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  • In February 2024, Disney invested $1.5 billion to acquire an equity stake in Epic Games, the maker of Fortnite, as part of a multi-year project to build a new games and entertainment universe.

    An outright acquisition of Epic would be a second attempt at the same ambition, only this time with a company Disney has already paid $1.5 billion to understand.

    The article’s headline is wrong or misleading. Disney isn’t looking at buying Epic for $1.5b, that’s what they’ve already invested in Epic. There is no mention of a proposed acquisition price in the article.


  • The term virtue signaling refers to an annoying moral peacocking that has less to do with politics than with self-gratification. It’s the dinner guest who feels compelled to comment on the climate impact of every course. It’s the guy who annoys his colleagues during meetings with constant bits of civic guidance.

    But Donald Trump and his administration have embraced the Mirror Universe version of virtue signaling. They’ve pioneered the practice of “vice signaling,” or saying insulting or odious things both as attention-seeking behavior and as a way of showcasing their supposedly transgressive political views. They aim to demonstrate strength by being willing to appall other people, much as schoolyard bullies insult their classmates to gain the approval of other bullies. It’s the same peacocking, but with uglier feathers.

    I did not expect Star Trek’s Mirror Universe to come up in an Atlantic article about politics.











  • The authors of the article don’t seem to be the media though:

    Steve Hanke is a professor of applied economics at The Johns Hopkins University and a member of the Board of Directors at the Federal Fiscal Sustainability Foundation. He is the co-editor, with Barry W. Poulson and John Merrifield, of Public Debt Sustainability: International Perspectives (Lexington Books, 2022). David M. Walker is the former Comptroller General of the United States and the Chairman of the Board of Directors at the Federal Fiscal Sustainability Foundation.