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Small-Scale Question Sunday for November 5, 2023

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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The master of trolling is at it again. Hanania:

Let's say Jeffrey Epstein wants to have sex with a 14 year-old girl, and will pay her $10 million. The money will go into a mutual fund that will pay out when she's 21. The girl agrees, as do both of her parents. Should this be allowed? And are you male or female?

As of this writing, the results are:

  • "Yes, male" - 5.9%
  • "No, male" - 78.1%
  • "Yes, female" - 1.3%
  • "No, female" - 14.7%

Look at the engagement metrics on this tweet: 94,000 votes, 3.4 million views, 4,700 comments, 273 likes. This might be the most "popular" Hanania tweet of all time.

Now, I am one of the apparent sickos who voted "yes", but I can see some decent arguments for "no". I'm still surprised the results are this lopsided, and I'm also surprised that there appears to be no gender gap.

Anyone who votes no:

  1. Doesn't know the value of 10M USD with 7 years of compounding. Hell, I'd take a bit of molesting myself for that much money at the age of 21. Forget consexual sex.
  2. Isn't aware that losing one's virginity at ages 15-16 is not that uncommon.
  3. Shouldn't be allowed to vote.

Doesn't know the value of 10M USD with 7 years of compounding.

The value of $10M with 7 years of compounding (accessible in 7 years) is exactly $10M, as measured by Net Present Value. Actually it's probably a hair lower, as the beneficiaries likely have a different discount rate than the investment.

In one sense you're right, but his implication is that different people have different (and arguably more or less correct) preferences about when to spend money, or personal discount rates, and that his personal discount rate is much lower than usual, in that he's willing to let it sit for a long time and enjoy it later.

That's a very strange financial outlook, and I didn't get the impression it was implied. You should be spending money during your (or your child's) youth because the returns on a better childhood/adolescence far outweigh the returns on the stock market. As the most obvious example, that's why college loans exist. That rationale could just as easily apply to highschool or earlier, and to non-academic pursuits as well.

Hm, sometimes one has thoughts that are stupid, doesn't think about them too much, and writes them on the internet. Grandparent was one of those times. Sorry!