Great read from @ATabarrok on privateering, especially the pivotal role it played in American victory in the War of 1812. Privateering works in lower capital intensity, high substitution, competitive markets Its less viable in a world of nuclear submarines and high taxes

Super interesting: History LLMs. Trained on timelocked data so that there's no contamination from future knowledge. Going to be really interesting for historical education and research... plus it's Hyperion coded (the AI John Keats character and historical simulations)