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The only labor action I’m aware of in the game development industry has been the voice actors strike of 2016. During that strike, basically all unionized voice actors stopped voice acting for games. The strike lasted for almost a year. They won—but honestly, it wasn’t as big of a victory as their union, SAG-AFTRA, played it up to be.
The voice actors were fighting for royalties on their games. They will work on these huge products like Grand Theft Auto that make over a billion dollars, but only get paid a few hundred dollars per session. In response, CEOs tried to pit workers in the industry against each other. They would say, “Well, it wouldn't be fair to everyone else if we gave you royalties—the programmers and the designers and the artists aren’t getting royalties.” And it’s like, “No, you’re absolutely right, they all should get royalties!” They try to play us all against each other, but really we should all be in this together.
everyone should be paid as well as the CEO tbh
GWU is not just against shitty labor practices. We’re also against shady business practices, and those impact players. A good example is the recent controversy around “loot boxes.” People will design systems that require a ton of grinding and say, you could toil through this game for 100 hours in order to get all the content, or you pay us five dollars and we'll unlock the Darth Vader mask or whatever it happens to be that you want to get.
That's an exploitative business practice, and it's shitty because game workers didn’t come into this industry to make little tchotchkes to sell to people. They came into this industry because they loved the great experiences they had playing games growing up, and they wanted to contribute to that and tell their own stories. And instead they're forced into making this cheap, exploitative content.
In building an anti-capitalist framework to fight back against shitty labor practices, there is a natural alliance with players who are exploited by shitty business practices—not that they always appreciate that.
When we consider the social effects of computers in political and social life, we usually think in terms of expanded power and new possibilities. This perspective on computation permeates even our critical visions of technology. But we should also be attentive to the power that computers and the accompanying language of “systems” and “complexity” have to narrow our conception of the politically possible.
But isn’t there a strong financial incentive to try to understand why you’re doing what you’re doing, whether it’s an algorithm or a human executing the trades? Otherwise it seems very easy to lose a lot of money.
Sure. But the market structure of investing dilutes that incentive.
The people who are developing the most sophisticated quantitative techniques work for hedge funds and investment banks. For them, there are two ways to make money. You make money by charging fees on the assets you manage, and you make money on the performance of the fund. That split will give you a sense of why there’s a dilution of the incentive. Because even if your assets don’t perform well, you can still make money on the fees that you’re charging to manage those assets.
The rewards from those fees are so large that if you can sustain a story for why your technique is superior, you can manage assets for a long time and make a ton of money without having to perform well. And, to be fair, sometimes it takes a number of years before you know whether the quantitative technique you tried actually works or not. So even if you aren’t making money in the short term, you could have a reasonable story for why you aren’t.
At the end of the day, for the manager, it’s as important to gather a lot of assets as it is to run a successful strategy. And gathering assets can be largely a marketing game.
Another fallacy in the lead-up to the financial crisis was the assumption that financial markets were so efficient that participants didn’t need to do the underlying work to figure out what the securities were actually worth. Because you could rely on the market to efficiently incorporate all available information about the bond. All you need to think about is the price that someone else is willing to buy it from you at or sell it to you at.
Of course, if all participants believe that, then the price starts to become arbitrary. It starts to become detached from any analysis of what that bond represents. If new forms of quantitative trading rely on assumptions of market efficiency—if they assume that the price of an instrument already reflects all of the information and analysis that you could possibly do—then they are vulnerable to that assumption being false.
Is Uber worth $60 billion? Well, Uber is worth $60 billion because we believe someone is willing to pay $60 billion for it. But maybe Uber is worth zero. Maybe that’s the actual value of the revenues that Uber will make in the future. In the current environment, we rely on liquidity to sustain prices for financial assets. When liquidity dries out and you’re forced to rely on the things that those financial assets actually represent, however, you could see painful shocks if there’s a big disconnect between price and reality—the kind of shocks you saw during the financial crisis.
If people didn’t want to do the analysis before, they’re probably even less inclined to do it now. They figure the machine learning models are taking care of it.
Right. The machines are taking care of it. Or other market participants are taking care of it.
I might think that the share of a particular company is worth 20 dollars. But its price can go up to 100 dollars well before it drops down to 20, in which case I can’t sustain my measure of its actual value. So if all of the computers are pushing the price to 100 dollars, I might as well not do the work of figuring out what the company is actually worth because it’s somewhat irrelevant to the price that it trades at. Paraphrasing Keynes, “Markets can remain irrational longer than you can remain solvent.”
f I timed it right, I’d make all the lights and speed down Folsom with no hands, the city a foggy blur I glided through on my commute into the office. But such mornings were rare. San Francisco is full of so much I didn’t want to miss. A freshly painted mural outside Philz Coffee on the corner of 24th Street; a mother zipping up her daughter’s purple jacket on the porch of a remodeled Victorian duplex; a bearded man singing a song I couldn’t catch into a glass-bottle microphone. I’d take in all I could as the tunnel of Chinese elms along the southern stretch of the street thinned out and I approached the 101 underpass. With cars rumbling overhead, I’d fix my gaze straight, toward the glass high-rises, and grip my handlebars tight as Folsom arced into SoMa.
i can't believe this is real
Content review, I corrected, a term that cast the work as more professional, at least in my eyes. I added that I also helped implement clever in-app solutions for users struggling with serious issues: cutters and anorexics, the depressed and the bullied. If you included “suicidal” in your dating profile, for instance, a pop-up appeared with a link to a website of helpful resources. Out of twenty thousand users who typed “suicidal,” five percent tapped the link. That’s one thousand lives I may have saved. Incredible scale.
this is kind of funny
He cracked open a Red Bull. “The VCs want us to hire more engineers, maybe a designer. But we might be able to bring on a contractor to help you for a few months.” He took a swig and switched into his friend voice, the looser cadence I remembered from our early days together, right out of college, before he’d written a line of code for DateDate. “A new roastery just opened on 7th and Folsom. A kiosk out of a garage, nothing flashy, but the coffee is superb.”
We’d met in a café in Palo Alto, where the owner, an old man from Trieste, introduced us as espresso purists. “No nonsense with the two of you,” he’d said, waving a hand at the flavored syrups that lined his bar, a compromise he made to compete with the Starbucks down the street. When I learned that the Founder dropped out of Stanford as a junior, I immediately respected him. He had edge. It was one thing to find success as a Stanford grad, and another thing entirely to find success as a dropout. Plus, I was excited that I finally had someone to talk coffee with, even if I was ashamed of my bougie interest.
incredible writing
At the bar, someone was singing Robyn’s “Dancing on My Own,” a song I would never stream on Rdio because it wasn’t compatible with my publicly visible aesthetic preferences, but which I secretly loved. The mood of the song made me feel expansive.
????
It seemed Allie didn’t know many people at the meetup, either. Her roommates were alums of Ivy League universities, and most of the people here were recent transplants from “back East,” thrilled to be in “San Fran.” Allie suggested we take a walk. On our way out of the apartment, I overheard one guy attempting to impress someone by explaining that he’d passed on an offer from McKinsey in order to come out west and “risk everything.” The company he named employed more than five hundred people, hardly a startup.
like if you're going to make this banal point at least leave it as an exercise to the reader!!! dont spoon-feed us that final clause