Pudding / Alvin Chang: “Why do super rich people exist in a society? Many of us assume it’s because some people make better financial decisions. But what if this isn’t true? What if the economy – our economy – is designed to create a few super rich people? That’s what mathematicians argue in something called… Continue Reading
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Category Archives: Economy
A New Chat Bot Is a ‘Code Red’ for Google’s Search Business
The New York Times: “A new wave of chat bots like ChatGPT use artificial intelligence that could reinvent or even replace the traditional internet search engine. Over the past three decades, a handful of products like Netscape’s web browser, Google’s search engine and Apple’s iPhone have truly upended the tech industry and made what came… Continue Reading
Document: Report on Trump’s Tax Returns
Ways and Means Committee report on Trump Taxes Joint Committee on Taxation summary of Trump’s returns. WSJ$ – Donald and Melania Trump Reported Negative Income In Four Years From 2015 Through 2020. “The Trumps paid some form of taxes every year, but paid $750 or less in income taxes in three of the six years.”… Continue Reading
What’s next for crypto in 2023
MIT Technology Review: “Last month’s sudden implosion of the popular cryptocurrency exchange FTX has intensified a political war for the soul of crypto that was already raging. In the coming year, we are likely to see that fight come to a head in US courtrooms and in Congress. The future of finance hangs in the… Continue Reading
Summary of Trump Taxes Released
Axios: “House Ways and Means Committee Democrats voted Tuesday to release to the public several years worth of Donal Trump’s tax returns in the days ahead, ending the long-running battle over the documents’ secrecy. “Lawmakers said it would take some time to first redact sensitive information from the documents, such as Trump’s Social Security number… Continue Reading
Fierce ‘bomb cyclone’ to disrupt holiday travel, unleash Arctic outbreak
Washington Post: “Fierce ‘bomb cyclone’ to disrupt holiday travel, unleash Arctic outbreak. The storm could bring blizzard conditions, ‘life-threatening’ cold, extreme wind chills and travel headaches for large parts of the Lower 48 states. A massive storm system is set to snarl holiday travel and bring an onslaught of wintry weather to millions across the… Continue Reading
The Myth of the Secret Genius
The Garden of Forking Paths – “From Elon Musk to Elizabeth Holmes and Donald Trump, many very rich people are effective at convincing us of a myth: they’re secretly a genius, and you’re just too dumb to understand. Are they right?…Elon Musk is part of a small class of extremely rich people who are rich… Continue Reading
The Stable in Stable Coins
Federal Reserve Borad, December 16, 2022 – The stable in stablecoins – Garth Baughman, Francesca Carapella, Jacob Gerszten, and David Mills: “Stablecoins have garnered much attention as a key part of the emerging decentralized finance (or “DeFi”) ecosystem, and as a potential way to pay for goods and services. Stablecoins facilitate trades on crypto exchanges,… Continue Reading
Cars New Total Cost of Ownership Tool for Electric Cars
Clean Technica: “We’ve written about the total cost of ownership of automobiles for a decade, comparing the total cost of ownership of electric cars to the total cost of ownership of fossil-powered cars. The short and sweet of it is that due to lower operational and maintenance costs, as well as higher value retention, electric… Continue Reading
All-knowing machines are a fantasy Beware the human-sounding ChatGPT
iai news: “The idea of an all-knowing computer program comes from science fiction and should stay there. Despite the seductive fluency of ChatGPT and other language models, they remain unsuitable as sources of knowledge. We must fight against the instinct to trust a human-sounding machine, argue Emily M. Bender & Chirag Shah. Decades of science… Continue Reading
New York financial regulator issues cryptocurrency guidance for banks
“Today, New York Department of Financial Services (DFS) Superintendent Adrienne A. Harris released Guidance to banking organizations that wish to engage in virtual currency-related activities. The Guidance is applicable to all New York regulated banking organizations, as well as branches and agencies of foreign banking organizations licensed by the Department (“Covered Institutions”). Covered Institutions are… Continue Reading
America Online: A Cautionary Tale
The Nation $: On the rise and fall of the quintessential ’90s online service provider—and a warning about today’s social-media giants. “…America Online debuted in 1991, the same year that the World Wide Web opened to the public. With revenue from advertising and subscriber fees, AOL had a market cap that soared past $150 billion… Continue Reading
