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MichaelGR comments on Self-Improvement or Shiny Distraction: Why Less Wrong is anti-Instrumental Rationality - Less Wrong
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I didn't read the whole article (It's a school day; I'm busy), but in my case, I have to disagree with your premise. LW has definitely been a net positive for me.
First, it has introduced me to different "tricks" for increasing productivity/doing what I want. Melatonin, knowledge of heuristics/biases, PUA/Ev Psych inspired social skills, etc.
Second, reading LW has directly contributed to me constructing an identity for myself that makes me more rational. If I identify myself as a rationalist, then my brain will act accordingly. This has been crucial in fighting akrasia.
Third, and perhaps most importantly, I know where my priorities lie. I post on LW irregularly, don't read every article - let alone most of the comments, and realize that LW is primarily "fun time." It's rationalist porn to some degree, and I'm ok with that. It certainly beats normal porn.
Am I atypical here on LW?
I don't think you are very atypical.
I can easily imagine that some of the most "advanced" rationalists here might not be getting as much useful information out of LW, and so they might see it as a low-ROI site.
But the average LW reader probably isn't so "advanced" (might not have been familiar with a lot of the concepts taught here before reading LW), and so the ROI can be much higher.
Update: In fact, one of the main benefits of LW might be to transfer some of that knowledge from the more advanced rationalists to the beginners.