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If some really smart people (Fidelity, ) were to start an exchange with weekly or daily delivery and a custodian feature that would be the end of 95% of the current rip-off exchanges.

This interview with Jaron Lanier was perhaps the best conversation I have had in a long time (and that is a high bar given how many smart people I talk to daily). He is truly a big thinker and unfailingly kind in his outlook (unlike me) about key issues:

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Your daily reminder that we used to have smart people in the White House.

For the legal issues with Daily Fantasy, trust in smart people. That means @McCannSportsLaw  () and @OPReport .