Anna Jarvis, la mujer que inventó el Día de la Madre y se arrepintió

https://fed.brid.gy/r/https://www.elnacional.com/2026/05/anna-jarvis-la-mujer-que-invento-el-dia-de-la-madre-y-se-arrepintio-2/

“Gambling is a tax on ignorance”*…

And as Einstein observed, “two things are infinite: the universe and human stupidity; and I’m not sure about the universe.”

Gambling– and related specualtive investments– have always been, for the vast majority of punters, a sucker’s bet. But, as Paul Kedrosky explains, the growing prevalence of AI and the emergence of prediction markets have amplified that painful reality…

The return skew in prediction markets’ returns is startling. It is partly a function of their nature, but also of vibe-coding script kiddies attacking every market anomaly as quickly as it arises. Check a recent WSJ article for examples.

The same dynamic is now spreading across retail-dominated markets. A driver is how AI lowers the cost of systematic exploitation and exploration to near zero. What used to require infrastructure, data pipelines, and bearded quants is now accessible via off-the-shelf models, APIs, and loosely stitched “agent” workflows doing … stuff that even their users don’t fully understand.

The result isn’t democratization of returns. It is wider participation, of a sort, alongside the rapid re-concentration of profits. A small subset of users—those willing to iterate fastest, monitor continuously, and deploy capital programmatically—capture gains, with everyone else just liquidity.

They scrape sentiment, parse new information, and reprice positions in seconds, compressing the half-life of mispricings. That doesn’t eliminate inefficiency, but changes who harvests it. The edge shifts from insight to speed, coverage, and execution discipline—areas where even modest automation compounds quickly, and edges disappear overnight.

Prediction markets are simply the cleanest expression of this trend because they combine thin liquidity, discrete outcomes, and high retail participation. But the same pattern is visible in options flow, single-stock volatility events, and even online poker, which AI increasingly dominates.

As AI tools continue to scale, expect this to get worse: a small cohort running semi-automated strategies extracting semi-consistent edge, and a much larger base supplying them returns. Under the pressure of AI prevalance, markets don’t flatten, the return gradient steepens to a cliff…

Fewer and fewer winners take more and more of the pot. The mechanics of concentration: “AI is Eating Markets” from @paulkedrosky.com.

* Warren Buffett

###

As we contemplate concentration, we might note that today is Mother’s Day. As noted yesterday, the observance became official on that date in 1914. But the quest to honor moms began a good bit earlier. On this date in 1908, Anna Jarvis held a memorial for her mother at St. Andrew’s Methodist Church in Grafton, West Virginia, the location of the International Mother’s Day Shrine. But her quest to create Mother’s Day had begun three years earlier when her mother Ann, a lifelong activist, died.

Ann had tried to start a “Mother’s Remembrance Day” in the mid-19th century. On her passing, Anna enlisted the support of retailer extraordinaire John Wanamaker, who knew a merchandising opportunity when he saw one, and who hosted the first Mother’s Day ceremonies in his Philadelphia emporium’s auditorium. In 1912, Anna trademarked the phrases “second Sunday in May” and “Mother’s Day”, and created the Mother’s Day International Association. By 1914, she and Wanamaker had built sufficient support in Congress to score the Congressional Resolution noted yesterday. (President Wilson, who was by current accounts uninterested in the move– distracted as he was by the beginnings of his ultimately unsuccessful effort to keep the U.S. out of the troubles in Europe that became World War I– nonetheless knew better than to take a stand against moms.)

Festa della Mamma: La storia di una ricorrenza nata dall’amore e diventata mondiale

https://www.psicospace.it/festa-della-mamma-la-vera-storia-origine-e-significato/

On Anna Jarvis and the origin of Mothers Day in the United States and Australia.

https://thenewleafjournal.com/anna-jarvis-and-the-origin-of-mothers-day-in-the-united-states/

#history #ushistory #mothersday #annajarvis #newleafjournal

For Mother's Day, I published a long article about Anna Jarvis and the origin of Mother's Day, using original newspaper articles from the earliest observances in the United States and Australia. The early celebrations of Mother's Day highlighted the original concept of the occasion before it become commercialized in later years.

https://thenewleafjournal.com/anna-jarvis-and-the-origin-of-mothers-day-in-the-united-states/

#history #annajarvis #mothersday #mother #carnations #australia #ushistory #newleafjournal #TheNewLeafJournal