SevenNation

10 ms·

31.
by SevenNation 4y ago
A common, tired take on HN: crypto bros will re-invent every piece of financial regulation they condemned. I doubt it. The reason is simple. If you think this latest round of panics and collapses is anything new, you haven't been payin
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by SevenNation 4y ago
> Your stock brokerage, though, is willing to offer you leverage on your assets. In return for a fee (and to gain your business, because this is considered a high-saliency feature for the customers of brokerages), they will lend you mone
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by SevenNation 4y ago
> After my last post, which hypothesized a relationship between the total size of a program and the bugs in it, I was led to this paper, via this blog post, via this comment. This, by the way, is my favorite thing about blogging. "t
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by SevenNation 4y ago
This post conveniently ignores the long line of 20th and 21st century banking and finance disasters, which occurred under the watchful eye of Congressionally appointed regulators. One could also argue that the presence of regulators and reg
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by SevenNation 4y ago
> It’s hard to know what to take from that; Steve Jobs was clearly a very smart man, without a lot of empathy for lesser beings. So is he saying “Everything was made up by people no smarter than Steve Jobs”, or does he actually mean it t
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by SevenNation 4y ago
The one thing this startup never did was find a customer. Kind of makes you wonder.
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by SevenNation 4y ago
> By contrast no bank would have touched Alameda with a ten foot pole. Would you believe... a pension fund is involved with FTX? https://fortune.com/2022/11/10/canadian-teachers-could-have-... I doubt the
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by SevenNation 4y ago
> FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion, the person said. FTX extended loans to Alameda using money that customers had deposited on the exchange for trading purposes, a d
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by SevenNation 4y ago
For those who may be new to this, what's happening now is the final act of the Bitcoin Cycle. The Cycle starts with nobody giving Bitcoin a second thought. It's deader than a doornail. Yesterday's news. That is, if anybody ev
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by SevenNation 4y ago
And still a price/earnings ratio over 70, and no dividend in sight. What exactly to people imagine they're buying when they plunk down money for shares in this company?
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by SevenNation 4y ago
The author quotes Page and Brin's original paper: > “Currently, the predominant business model for commercial search engines is advertising. The goals of the advertising business model do not always correspond to providing quality s
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by SevenNation 4y ago
> I’m in that camp and I’m starting to suspect there are enough people in that camp that any noticeable drop in prices will be immediately met by strong demand, even at current rates. What you're missing is that when the bottom is i
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by SevenNation 4y ago
> One question that might be too early to answer is: Why was there a liquidity crunch in the first place? ... The simplest way to run the business is to take deposits from customers, buy crypto for the customers, keep everything segregat
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by SevenNation 4y ago
The slashdot piece just links to the real article: https://techcrunch.com/2022/11/08/binance-signs-letter-of-in... > Zhao (pictured above) said Binance reached the decision after FTX asked the crypto behem
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by SevenNation 4y ago
> Two years later, the client canceled the two-years-late project before it ever launched. They ate a $60M loss. You could say that the customer got exactly what they paid for. The customer lacked the ability pay in terms of specificatio
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by SevenNation 4y ago
The most surprising thing about Rust is how high-level it feels compared to other "systems" languages. Unless the problem space demands something other than Rust, I don't see much reason to choose anything else. And this in
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by SevenNation 4y ago
> This seizure was then the largest cryptocurrency seizure in the history of the U.S. Department of Justice and today remains the Department’s second largest financial seizure ever. If past history is any guide, the proceeds will be auct
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by SevenNation 4y ago
Nothing in the article supports the "large-scale" qualifier in the title. There's also no link from Reuters to to the alleged WSJ report, but that is unfortunately par for the course. I could understand a title like "Met
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by SevenNation 4y ago
> In simple terms, it’s merely being in the same room with another person who is having trouble getting things done on their own. As a body double, you don’t need to help or even say anything. All you need to do is just be there in the r
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by SevenNation 4y ago
> I feel bad when I see everyone around making progress with their careers. Meanwhile my only promotion happened like 15 years ago, when I went from junior to senior dev. My salary is, I bet, better than most, but salaries are secret. I&
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Elon Musk's Twitter begins laying off employees across the company(lite.cnn.com)
3 points by SevenNation 4y ago|1 comments
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by SevenNation 4y ago
Why does HN monkey with titles like this?
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by SevenNation 4y ago
Looking at the US labor statistics, you'd think this was a golden age. But that 20% raise you got is only about 9% when you factor in the likely inflation taking place in your area. The thing is that recessions start somewhere . They
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by SevenNation 4y ago
What a lot of people don't understand is that the last cycle isn't over until idiotic enterprises like this self-destruct.
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by SevenNation 4y ago
> For a time, Ford CEO Jim Farley had a reference to the bit — and his late cousin — in his Twitter profile: “Mustang and racing fan. Happen to love white vans ... preferably down by the river.” The auto executive has paid other tribute
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by SevenNation 4y ago
This is what the other side of a hiring blitz looks like. On the ascent, company after company speculatively hired extremely expensive workers - because the surface economic signals were misleading people who should have known better. There
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by SevenNation 4y ago
Bottom line: > Collectively, our study suggests that commonly consumed NNS [non-nutritive sweeteners] may not be physiologically inert in humans as previously contemplated, with some of their effects mediated indirectly through impacts e
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by SevenNation 4y ago
> The world is now shifting again. We are facing stubborn inflation, energy shocks, higher interest rates, reduced investment budgets, and sparser startup funding. (Tech company earnings last week provided lots of examples of changing ci
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by SevenNation 4y ago
> The simplest reason I believe we won’t have a repeat of the 1970s inflationary spiral is because Fed officials have studied that period and the mistakes made by their predecessors. There are no mistakes to be made because the Fed is a
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Entrance of the Gladiators(en.wikipedia.org)
2 points by SevenNation 4y ago|0 comments

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