dereg

One of my favorite stories is an acquaintance's aunt had Willie Nelson perform at her birthday party. The condition was that he was to be paid $200k in cash. He arrived, performed at the party, took the bag of cash, and left without exchanging any words.

The reactions to this are confounding. This is not a ride, this is a tragedy. So what that some people were wrong on the internet? There are children still without a father today.

Do you think it’s okay to allow children to gamble?

Creating credits out of thin air is impossible as all financial transactions must be accounted for. In the case of Azure credits, they will appear as increased revenue on Microsoft's balance sheet. However, if Microsoft decides to price Azure services below cost as part of their agreement with OpenAI, their profit margins will be affected. I highly doubt that is the case because the alleviation of cost is in the form of credits.

I would wager against comment 0 that said that this will materially affect earnings.

I’m pretty sure Anthropic’s Claude is doing that.

https://scale.com/blog/chatgpt-vs-claude

There is no issue here. This is simply a story of the transfer of ownership between a company's founder to employees. The framing is incredibly weird, I hate it. The article could simply be rewritten as (not GPT3):

- Ray started to sell the ownership of Bridgewater in the mid 2010s, but retained a controlling interest in the company.

- He financed the buyout of his shares, providing liquidity to employees.

- There were struggles finding leadership that could competently carrying the fund forward.

- Current leadership has a vision of how the fund should operate going forward, and that vision conflicts with some of Ray's stated principles.

- As a result, leadership wants to buy him out entirely, but probably do not have the funds to do so. As a result, Ray is converting his ownership into non-voting preferred stock, conferring him dividend until the sooner of Bridgewater or Dalio's death.

All I can say is finally. The early stories of Bridgewater (pre 250 employees) from former employees with whom I have talked make Bridgewater seem like a truly special place to have worked at. Ray facilitated meetings across the org in a very personal, constructive way. Then AUM ballooned and they went to 2,000+ employees in a snap. Then they brought in consultants like IBM to scale their intimate management style and the last vestige of magic dissolved.

The fund was a zombie asset aggregator for a good 5-7 years. We'll see how it goes going forward.

This is phenomena is called monopsony and Apple has been doing this since forever (HDs, "retina" displays, glass, semis, etc). In Apple's case, they have essentially subsidize innovation and manufacturing capacity at the expense of temporary exclusivity and I believe that it's been beneficial for the market at large. It's like how guaranteed purchase contracts were instrumental in bringing COVID vaccine development forward.

NewsBlur has an email forwarding feature[0]. (Disclosure: Happy NewsBlur user for 7 years.)

[0]: https://blog.newsblur.com/2016/07/01/newsletters-in-your-new...

I'm so glad I found Polars. I replaced the most time-consuming parts of my Pandas code with Polars and it has reduced data manipulation times by literally 90-95%.

Amazing is not an overstatement.

Neat, I'll give this a shot!

I agree with you. While I love RSS and use it frequently, there are two things that I find that could be improved:

1. RSS doesn't help me find new interesting blogs and writers. One of TikTok's few virtues as a platform is giving algorithmic reach to creators who have no social reach.

2. My RSS collections have always been one of either I'm following a highly curated list that leaves me hungering for more content or I'm following a firehose that makes me miss the content I prefer.

I stumbled across a website that does something like what the article describes, but for just tweets[0]. It's surprisingly compelling and gives me the feel of using StumbleUpon. I am eager to see more things like it.

[0]: https://mood.surf (no affiliation)

I can’t help but shake my head at most of these comments. There was a time when we celebrated anecdotes like this here on Hacker News. I’ve seen this story circulated many times but this is the first time I’ve seen this sort of reaction. These aren’t rose colored glasses, anyone can look up threads of old in which we cheered such defiance toward authority.

People are frothing to frame this story with 2023 glasses and, to me, this reaction makes it all the more clear how today’s culture is so corrosive. Maybe I’m wrong. Maybe it’s not about privilege of rich white men. Maybe it’s about the rigid conformism that the tech industry has imbued in its people in this past decade. The screams of people glued to Anki preparing for leetcode interviews, not understanding why someone would dare challenge the status quo. Regardless, it’s a sign of the times.

It was a mutualistic, not parasitic, relationship. Twitter's product development stagnated the day they nerfed the third party dev api.

3rd party Twitter clients were once considered a design playground where the best elements not only influenced Twitter's future design language, but also that of iOS as a whole. Tweetie's pull-to-refresh is emblematic of that. I'm pretty sure Tweetbot invented the (partial) left/right swipe to invoke different actions on tweets that have since become a mainstay of email apps.

Makes sense. There’s no need to use this to read into the solvency of Binance. From Mazars’ perspective, the small amount of fees they receive is not worth the destruction of the rest of their business.

Arthur Andersen used to be one of the big accounting firms (the “big four” used to be the “big five” accounting firms) and their association with Enron and Worldcom destroyed their business. There’s no need to force an error by performing these incredibly narrow-scope exercises when the whole world is looking.

This is why Caroline is an important witness for the prosecution. It seems like most of the nefarious stuff occurred in Signal.

It should be noted that SBF is facing 165 years in prison.

This is the biggest understatement of the century.

A great deal of internal communication apparently occurred within ephemeral Signal Chats. While JJRIII is witness to failure, Ellison was witness to intent.

Caroline and Sam Trabucco were co-CEOs. He too will face the full scrutiny of the DOJ.

It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.

This is incorrect/misleading on many fronts:

1. This is an outdated article citing a single point in time

2. The source tweet is comparing Uniswap's volume on all x:ETH pairs against only ETHUSDT volume on centralized exchanges. [0]

3. The date of comparison is an outlier day - when FTX's "hacker" decided to move huge sums of tokens uneconomically on chain.

4. Volume across CEXs have collapsed, a sign of the ecosystem's weakness, not strength.

5. Even then, Uniswap doesn't hold a candle to Binance. ($600m volume vs $10b volume, past 24 hours on spot pairs)

6. Liquidity is horrible right now. If you try to execute a trade of reasonable size on a non-major coin you will face a lot of slippage.

[0]: The tweeter, Alex Svanevik is the founder of Nansen, a chain analytics company. It doesn't make sense that he would make such a simple mistake unless he was deliberately trying to bullpost.

See for yourself:

https://www.coingecko.com/en/exchanges/uniswap#statistics

https://www.coingecko.com/en/exchanges/binance#statistics

https://www.coingecko.com/en/exchanges/coinbase#statistics

Wow, this is incredible. Thank you.

3.5 hours – what a treat!

[deleted - misconstrued statement]

I have no respect for Duffy’s story. He criticizes VCs for being naive, cheerleading SBF and staying silent. Now what does it mean that the CME CEO was not naive, (purportedly) roasted SBF in private, and then stayed silent?

This is not bravery. Its cowardice in the form of ex-post bluster.

I’m so glad to see such appreciation for the game. While it’s not the original and may have been on rails, there are few games in which I was so immersed in the art and design.

> then invested in Tesla and almost drove it into the ground—-saved only by government subsidies, cheap money, and fortuitous timing

Tesla and Chrysler both!

> they're a serious journalistic publication and have verification standards for sources

It goes both ways. It seems like they didn't do much verification of Sam's claims.

Yes that’s exactly what it means. HN is leaping to conclusions again.