What caught my eye this week.
Working at the end of the age of publishing words has given me a lead on the post-LLM [1] era.
I saw early on how ChatGPT had mined the web for everything ever written – well-enough to spit out answers about anything. And as a writer I had more incentive than most to panic.
It was also clear that Google search would be in trouble – and with it the pipes that had kept independent publishing alive on the web for decades.
My worries soon came to pass [2]. People increasingly now get their knowledge direct from chatbots – whether Google or others. Those who wrote the articles the bots were trained on are withering [3] on the vine.
Another thing I’ve wondered about is when AI spam will overwhelm the Monevator comments. Already on platforms like X, swathes of comments are written by robots.
We have protections in place. But I don’t know how long they will be practical when facing spam like this:
[4]
Such spam started appearing in the past month or so. It addresses me or my co-blogger accurately. It references the article.
Only the booby-trap at the end confirms its ill-intentions.
Check mate
You may say there’s something sloppy [5] about this text. (Not to mention that it reads like @TA’s mum had a hand in it…)
Agreed, but remember you’re only have to sanity check one comment here.
I have to parse several hundred spam comments every day as a double-check. Both on spam that gets through our filters or is held for moderation, and also real comments that are incorrectly marked as spam. This is after software has already flagged the obvious offenders.
It’s burdensome, and the reason why I had to close comments on posts over three years old. To keep it vaguely manageable.
Spam comments like the one above stand out because they are still rare. But I imagine they will soon be the norm. (Well, presuming the economics of spamming still works if spammers are somehow paying for AI compute?)
I also expect bots to get clever enough to hide their intentions by posing as real readers, before finally inserting their spam links once they’re trusted.
Incidentally, we can see that’s a spammy link in my example. But if a reader posts a URL to data elsewhere about interest rates, say, it’s not so easy for software.
That’s why comments with links are already often held in moderation, especially from new commenters.
King sacrifice
Long story short: one day only logged-in Monevator members [6] may be able to post comments. (I’m presuming the spammers won’t pay for the privilege!)
I’d be happy for commenting to be another perk for those who kindly support our efforts. It would make general moderation far easier, too.
Really, everyone who comments regularly on Monevator should already become a member [6]. It costs much less than a High Street coffee a month. Even cheaper with annual membership!
With member-only commenting I know we’d lose some good comments, sadly. Although on the flip-side I suspect most discussions would be even more civil than we’re lucky enough to enjoy today.
The real downside would be fencing out non-regulars who bring one-off insights to a discussion. For example, a professional bond trader who arrives here via Google and educates us with a comment on an article about long-dated gilts.
That sort of thing is very valuable. I’m loathe to lose it. So for now the battle against spam continues!
Have a great weekend.
From Monevator
The Slow and Steady Passive Portfolio update: Q3 2025 – Monevator [7]
Checking in on private companies and crowdfunded investments – Monevator [8] [Mogul members [6]]
From the archive-ator: What can we learn from asset allocation rules of thumb? – Monevator [9]
News
UK economic growth stalled in second quarter – City AM [10]
House prices up though, says Nationwide – Guardian [11]
JP Morgan ditches Nutmeg for ‘Personal Investing’ brand – This Is Money [12]
Gold price makes latest record as US government shuts down – Yahoo Finance [13]
New figures reveal how our disposable income shrank – Sky News [14]
Savings windfall worth £2,242 waiting for 748,000 young adults – Yahoo Finance [15]
Cash use falls below 10% for first time – This Is Money [16]
Home buyers turn builders for £10,000 off their mortgage – Guardian [17]
FCA chief updates Rachel Reeves on evolving Consumer Duty [PDF] – FCA [18]
London falls to 23rd place for IPOs, just behind Oman [Paywall] – Bloomberg [19]
[20]
Why you now need a lot of dough to get a pizza – The Observer [21]
Products and services
Are pension fees deflating your retirement savings? – Which [22]
Vanguard to cut fees on six equity ETFs – FT Adviser [23]
Get up to £1,500 cashback when you transfer your cash and/or investments to Charles Stanley Direct through this affiliate link [24]. Terms apply – Charles Stanley [24]
Testing London’s £30-a-night hotel rooms – The Times [25]
Chase Bank’s first £100 switch offer – Be Clever With Your Cash [26]
IKEA and Lloyds Bank unveil new credit cards – Which [27]
Get up to £200 cashback when you open or switch to an Interactive Investor [28] SIPP. Terms and fees apply, affiliate link. – Interactive Investor [28]
The best American Express cards – Be Clever With Your Cash [29]
How tenants can make the most of the Renters Rights Bill – Landlord Today [30]
What energy bill help is available as prices rise again? – This Is Money [31]
Homes for sale with impressive entrances, in pictures – Guardian [32]
Comment and opinion
Gen Z will need ‘at least £3m’ to retire comfortably – City AM [33]
Energy price cap should be scrapped to bring down bills – This Is Money [34]
The bearish persuasion – We’re Gonna Get Those Bastards [35]
The supercommuters taking 24-hour journeys to the office – Sky [36]
How to invest during a bubble – A Wealth of Common Sense [37]
The 966: is this dystopian work trend coming to the UK next? – Independent [38]
Would a flat tax save Britain’s economy? – Cap X [39]
This is how to avoid being scammed – Barking Up The Wrong Tree [40]
Be more human, because the alternative is taken – Abnormal Returns [41]
The hidden cost of passive investing – Morningstar [42]
Hate your job but can’t leave? 20 ways to love work a bit more – Guardian [43]
The financial stability implications of tokenised investment funds – New York Fed [44]
60/40 noodling mini-special
A golden opportunity to upgrade the 60/40 portfolio – Alpha Architect [45]
Why ‘downside protection’ ETFs don’t work as well as the 60/40 long-term [US but relevant] – Kitces [46]
Naughty corner: Active antics
The Pacific Coast as edge – Morningstar [47]
What happens when speculation becomes your strategy – Novel Investor [48]
Companies are spending but not hiring – FT [49]
The investment themes that are outperforming AI – Morningstar [50]
Hetty Green: The Witch of Wall Street – Farnham Street [51]
An award-winning review of the success of trend following [PDF] – CMT [52]
Kindle book bargains
Narconomics: How to Run a Drug Cartel by Tom Wainwright – £0.99 on Kindle [53]
Great Britain? by Torsten Bell – £0.99 on Kindle [54]
Supremacy: AI, ChatGPT by Pammy Olson – £0.99 on Kindle [55]
Chokepoints: Economic Warfare by Edward Fishman – £0.99 on Kindle [56]
Or pick up one of the all-time great investing classics – Monevator shop [57]
Environmental factors
Are you bankrolling the climate crisis? – Which [58]
Brewdog sells Scottish ‘rewilding’ estate it bought only five years ago – Guardian [59]
When China makes a climate pledge, the world should listen – The Conversation [60]
How the world’s taste for soya is eating the Amazon – Guardian [61]
Mountain gorillas are back from the brink. But do they have enough space? – Guardian [62]
Robot overlord roundup
Microsoft launches ‘vibe working’ for Excel and Word – The Verge [63]
Barclays analysts are having dark thoughts about data centres – FT [64]
Tilly Norwood: should we be scared of the viral AI actor? – Guardian [65]
Why worthless Generative AI could be a good thing – The Conversation [66]
AI critic Ed Zitron is mad as hell – FT [67] [h/t Abnormal Returns [68]]
How much of the AI boom is just nVidia’s cash being recycled? – Fortune [69]
The periodic table of cognition – The Technium [70]
Not at the dinner table
Fit solar panels to pensioner homes to beat reform, says Labour MP – BBC [71]
In Kent, politics is being shaped by the West’s growing hostility to outsiders – Guardian [72]
Was Starmer right to link rise in small boats crossings to Brexit? – BBC [73]
ID cards come in to fight the wrong fire – Simple Living in Somerset [74]
Over 60% of Britons polled think Brexit has been a failure – Best for Britain [75]
Comedians defend their decision to perform in Saudi Arabia – Guardian [76]
Off our beat
The Age of Enshittification – The New Yorker [77]
Tim Berners-Lee: why I gave the World Wide Web away for free – Guardian [78]
Record everything! – Aeon [79]
The money-making secrets behind hotel design [Video] – WSJ via YouTube [80]
Ultra-processed food may be the 21st-century’s smoking – Guardian [81]
David Foster Wallace tried to warn us about these eight things – Honest Broker [82]
The seven coolest neighbourhoods in the UK – Time Out [83]
And finally…
“It is when we are unaware of what could go wrong that we have to worry.”
– George Soros, The Alchemy of Finance [84]
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