gmd63

22 ms·

241.
by gmd63 3y ago
This isn't inevitable. It's the nature of the voluntary business models at play.
242.
by gmd63 3y ago
Midwits rationalize behavior or phenomena with “natural selection” or “survival of the fittest” especially when engaging in zero sum games in their lives. Humanity as a whole will be in the darwin awards for failing to realize that species
243.
by gmd63 3y ago
Look at the flood of SPACs that have declined 90%+ over the past few years after their IPO. Just because something is illegal, like speeding on a highway, doesn't mean it doesn't happen every day.
244.
by gmd63 3y ago
Thank you for the kind words.
245.
by gmd63 3y ago
I agree. From my point of view there is definite wrongdoing, and it is not adequately punished. I'm trying to understand the other commentor's point of view as to how the bank was fined if there was no alleged wrongdoing. They had
246.
by gmd63 3y ago
> Just require good organization and you’ll get it by diktat? This is what I was responding to. You seemed to be insinuating that I didn't understand that laws or rules are not sufficient deterrents. > nobody was shown to have
247.
by gmd63 3y ago
Yep, cue the "free market" folks celebrating poorly-informed transactions between VCs dumping these companies on construction workers investing to try to fight inflation enough to send their kids to college.
248.
by gmd63 3y ago
I think corporations of "too big to fail" stature should have different legal protections than what are offered to humans. Innocent until proven guilty is not quite fair to apply to corporations that get bailed out by taxpayers wh
249.
by gmd63 3y ago
Evidently you don't get well run organizations by simply having legislation, which is my point. We do not enforce that legislation appropriately. I'm confused by your point regarding the SEC, how are they allowed to fine a company
250.
by gmd63 3y ago
Not entirely the case. Pump and dump schemes where seed stage investors sell to unassuming retail buyers in an IPO might be "companies going under", but if the free market rewards the creators of those schemes in premarket valuati
251.
by gmd63 3y ago
The crime was identified, which is why JP Morgan was fined. Once a corporate entity is operating at a sufficient scale, it does not matter if the people inside willingly mess up. The organization is required to be run properly. The problem
252.
by gmd63 3y ago
JP Morgan and other similarly acting agents in finance have become literal economic cancer tumors, attracting undue angiogenesis and convincing the body that excision is fatal all while leading it to its demise. We haven't figured out
253.
by gmd63 3y ago
Regulators are not thinking of the public when they allow corporate sociopaths to neglect societal best interest while market fixing / mismanaging records / etc., activities that have demonstrably siphoned wealth from the lower cl
254.
by gmd63 3y ago
100% Allowing "smart" individuals to play dumb to benefit themselves is not smart at all at a societal level. Strategists at these companies examine the costs of failure or cheating, and simply see that it's worth it to cut c
255.
by gmd63 3y ago
This is the unfortunate endgame of any system that depends on political promotion instead of 100% merit based advancement. My experience in the corporate world has shown me that a "skillpoint" in self-promotion is worth several mo
256.
by gmd63 3y ago
That is horrible UX. I feel for the designers that are bossed around by the short sighted people who rationalize manipulating customers at Amazon and hope they have the courage and means to move to a better workplace where they can build so
257.
by gmd63 3y ago
A few years before COVID I bought a dresser on Amazon. The box had a Walmart receipt in it. The guy had made his own UPC code, copied images of the dresser, and just bought the Walmart dresser shipping it to me and pocketing 30 bucks. I can
258.
by gmd63 3y ago
Just pointing out that rewarding growing things absent any sort of elegance or tact can result in oligarchs having too much undue influence just as cancerous growth in biology diverts too many resources toward undeserving cells that mismana
259.
by gmd63 3y ago
There is a parallel between chasing growth at all costs biologically and financially. Both heuristics produce ugly results.
260.
by gmd63 3y ago
Yes and bodies that reward growth over all else develop cancer. Not everyone blindly rewards production at all costs.
261.
by gmd63 3y ago
There is a societal benefit that comes with individuals internalizing their own costs of risk. Treating society like it's in an economic womb while Mother Finance shields it from the world of worries rewards ignorance and in my opinion
262.
by gmd63 3y ago
The problem is society is witnessing races between Tortoises and Hares, where the Hares are doped with venture backing. A healthy society progresses slowly like a tortoise, encountering actual tradeoffs that aren't masked by mountains
263.
by gmd63 4y ago
you mean, his 44 billion dollar (20,000 average lifetime american earnings) deficit was on the line. you can totally start a social media company that doesn't require you to recoup 20,000 lifetimes worth of human labor and allow free s
264.
by gmd63 4y ago
In an internet dominated by AI that was designed to avoid hurting feelings, an easy way to prove you are human would be to act like a jerk.
265.
by gmd63 4y ago
If a loan is 0% interest, I can guarantee you it comes with a price. And it's most likely paid by people who don't understand it.
266.
by gmd63 4y ago
Reducing coding to "deciding what to build" is not a pleasant endgame. In that endgame, anyone who can speak can command AI can do whatever they want it to do. Any kid with a louder mouth can outwish the wisest man on earth. That
267.
by gmd63 4y ago
Yes. But as I mentioned, there was an older, lower scoring article that was ranked higher than this one while it was fresh (~3 hours old)
268.
by gmd63 4y ago
The fault is also with VCs who mandated that portfolio companies concentrate large uninsured deposits in one bank, increasing the risk of a run. The bank to my knowledge didn’t even offer insured cash sweeps, a basic financial product for d
269.
by gmd63 4y ago
As I post this, the original post has 360 points posted 3 hours ago and is ranked lower than a post with 260 posted 14 hours ago. Interesting.
270.
by gmd63 4y ago
Or in another "How was your weekend?" "Oh nice had a walk with the boys, saw a bald eagle" We don't know that this would have been a crisis without a sudden 42 billion dollar withdrawal over 24 hours

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