Even Fallout's New California Republic had currency backed with water, not near-water.

Gresham's Law would describe Coors only finding the respect of the captive poor with craft beers and other beverages reserved for the rich and for export. What a terrible fate for such a quintessentially "lawnmower beer," which used to be marketed on the basis that it could be served cold.

#Fallout #CraftBeer #greshams_law #Economics #MonetaryTheory

#information_counterfeiters #LLMs #greshams_law #bad_search_engine_no_donut

Big search engine decisions to NOT punish LLM generated web content's search rankings, and even worse, to generate LLM content of their own, has had exactly the effect on how easy it is to find high quality information on the web that you would think it would have.

It occurred to me that, in a real sense, information is the basic 'currency' of the web. EVERYTHING on the web ultimately derives its value from the value of *information*.

LLMs are the *information counterfeiters* of the web: They generate content that *appears to be high value but actually isn't*.

And Gresham's Law strictly applies: "Bad money drives out good."

https://en.wikipedia.org/wiki/Gresham%27s_law

Gresham's law - Wikipedia