As a thought experiment, consider these changes to our economy’s incentive structure.
Warren Buffett’s partner Charlie Munger had a maxim: Show me the incentives, and I’ll show you the outcome. With that in mind, let’s look at two charts.
The first is a chart depicting the use of ChatGPT . (Source: OpenAI Usage Plummets in the Summer, When Students Aren’t Cheating on Homework.)
Usage fell by 2/3 once classes ended, and the dips in use during the Spring align with weekends.
There are any number of conclusions we can draw, but let’s start with another of Munger’s maxims: why? The reason is obvious: students are required to do homework as part of…
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