Bad FTX
9,049 karma · joined April 1, 2009
echo fua@tmrrv.bnl | tr '[a-y]' '[b-z]'
[Steve] pointed out to [the CEO] that what he was watching was that his entire company had bought into the “culture of working late” – but not because they had work to do, or it was making them more competitive or generating more revenue, but because the CEO said it was what mattered. Every evening the VPs were waiting for the CEO to leave, and then when the VPs left everyone else would go home. Long hours don’t necessarily mean success. There are times when all-nighters are necessary (early days of a startup, on a project deadline) but good management is knowing when it is needed and when it is just theater.
https://business.time.com/2013/11/06/how-twitter-slayed-the-...
Of course, there's a risk that the hedge fund could lose some or all of the customers' funds. And the exchange promises that customers can have their assets back on demand, which could be a trifle problematic if they are locked up in leveraged positions held by the hedge fund. But this is crypto. There's an easy solution. The exchange can issue its own token to replace the customer assets transferred to the hedge fund. The exchange will report customer balances in terms of the assets they have deposited, but what it will actually hold will be its own token. If customers request to withdraw their balances, the exchange will sell its own tokens to obtain the necessary assets - after all, crypto assets, like dollars, are fungible. ["The FTX-Alameda nexus" - emphasis mine]
Excellent explanation.
Appears to be confirmed by the WSG "FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall"
Original: https://www.wsj.com/amp/articles/ftx-tapped-into-customer-ac...
The corporations trained an AI on data that showed a strong upward trend in selling prices. The result is the AI predicted that most flips would be profitable and thus almost always said "buy."
This worked until the housing market slowed down, the upward trend in selling prices slowed (and reversed in some cases), and the AI predictions of profitability became wrong.
a) The mirror would need to be continuous. No gaps.
b) The mirror would have to be perfect. No dirt. No smudges.
Ref: https://www.quora.com/Will-a-laser-burn-through-a-mirror
"Jack Dorsey has rolled his entire stake of Twitter shares, worth nearly $1bn at the buyout price of $54.20, into the privately held company he founded, which is now controlled by Elon Musk."
https://documents.unoda.org/wp-content/uploads/2022/09/Unoff...
Source: "Open-ended working group on reducing space threats / Statements: second session" https://meetings.unoda.org/section/oewg-space-2022_general-s...
"Packed with sensors, the fiberoptic lines measured environmental conditions and fish migration, recording images and sound, and sending all the information back to shore."
"They could also be used as drifting hydrophones to listen for passing vessels for security purposes."
https://www.caranddriver.com/features/a22604428/what-happens...
You create "one liner" programs (lambdas) that do mathematical operations like you would with a programmable calculator, including saving to memory and recalling from memory. You can then chain together the various "one liner" programs (composability) to make a complex program that performs the calculation that you need.
Skip to the end for the tl;dr:
The foundational premise of AI lie detection is that lies are there to be seen with the right tools. Psychologists still don’t know how valid that claim is [...]. The promise of a window into the inner lives of others is too tempting to pass up, even if nobody can be sure how clear that window is.
“It’s the promise of mind-reading,” says Wilde. “You can see that it’s bogus, but that’s what they’re selling.”
Ref: "The fall of GE" https://theweek.com/articles/761357/fall-ge (2018)
"When Japanese conglomerate SoftBank bought the company in 2016, it made a commitment to double the chip designer’s 1,770 British workforce over the following five years. It succeeded, according to figures released by Arm, and by September of last year British staff peaked at above 3,500, with a total of 6,950 globally."
"Since then, the company has cut 18 per cent of its global workforce, with the UK taking a larger hit proportionally. The reduction was driven in part by management refocusing the business and exacerbated by an exodus of staff unsettled by uncertainty about the company’s future, according to former employees who spoke to the Financial Times."
This is very scary; if the economy is totally disrupted, the Russian "Federation" could splinter into a mess of countries/fiefdoms, many with nukes.
Russia currently spans eleven (11) time zones. With total economic chaos, there will be no way to hold that together as a single "Russian Federation." It was dicey back in 1991 when the USSR dissolved - this could be worse.
https://blogs.nasa.gov/artemis/2022/09/26/nasa-to-roll-artem...
1) Software engineers have to be salesmen as well to find companies willing to pay them well for jobs. Software engineers that can sell themselves do very well. The rest do not. Rule of thumb is that "sales" for contractors is at least a half-time job.
2) Companies do not like to hire contractors for critical software because (a) they are unable to tell the difference between a good engineer and a crap engineer until it is too late and (b) if the contractor disappears, they are stuck with software that may or may not be maintainable and no way forward other than hiring another contractor (goto (a)).
On their linkedin page "We have made the decision to wind down Kittyhawk. We're still working on the details of what's next."
tl;dr: spamvertisement
https://www.thedrive.com/news/a-swarm-of-self-driving-cruise...