jjxw

8 ms·

31.
by jjxw 8y ago
It's an interesting distinction which begs the question of how securities enforcement will work on currencies which start off looking like securities and "evolve" out of that designation like Bitcoin and Ether did. As implied
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by jjxw 8y ago
At least part of the high cost can be explained by HR departments wanting to hedge their bets in case someone needs to be fired for cause. Having a well documented paper trail of reviews which demonstrates that an employee was unfit or unde
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by jjxw 8y ago
The author of this book, John Carreyou, was apparently public enemy number 1 at Theranos. Theranos both dedicated time at an all hands to chant "f--- you Carreyou" and developed a space invaders like game where players could shoot
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by jjxw 8y ago
As another commenter pointed out, it also doesn't have to sift through thousands of faces. Chances are the doorbell is only exposed to a handful of faces a day which greatly reduces the volume of false positives regardless of the field
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by jjxw 8y ago
Agreed. To clarify, I use the term in a narrow sense limited to what I imagine to be "reasonable" from the profit seeking point of view of Goldman.
36.
by jjxw 8y ago
Sounds like a reasonable operation to set up. Goldman is ostensibly in the business of selling shovels in a gold rush so if enough of their clients are demanding a product that gives then exposure to bitcoin then Goldman senses there's
37.
by jjxw 9y ago
While not exactly the same, reminds me of the "Roach Motel" Dark Pattern [1] which intentionally increases friction to completing an action by users that would be detrimental to the business (such as deleting one's account).
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by jjxw 9y ago
Had the pleasure of working with their engineering team last year as part of a pro-bono data consulting grant that a nonprofit I work on ( http://www.deltanalytics.org/ ) provides. Excited to see how these systems are integra
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by jjxw 9y ago
Command and Control by Eric Schlosser covers many close call nuclear incidents that the US military has had since WWII. The incident which has been seared into my memory is one where an aircraft carrying a nuclear bomb flying over the east
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by jjxw 9y ago
This happens any time a public company's stock goes down because of unexpected news. Investors sue for breach of fiduciary duty in an attempt to recover losses in the share price as a result of alleged negative, material information be
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by jjxw 9y ago
Based on other companies which tried and failed (e.g. Spoonrocket, Sprig) this seems like a risky model to follow. It's possible that the costs of managing such a kitchen plus delivery service is at this point more expensive than brick
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by jjxw 9y ago
Now if they could get to repairing the solar system model at The Interval ;) I've been stopping by at midnight for the past year or two in hopes that I'll be able to see the system in action, but alas it appears the system is so c
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by jjxw 9y ago
Sounds like the type of advice that some of the more brash tech CEOs (e.g. Travis K.) would have taken to heart.
44.
by jjxw 9y ago
He's referring to the more complicated derivative products that allowed those funds to buy risk in the form of betting on low future volatility. Since volatility has recently spiked, those types of products have lost the majority of th
45.
by jjxw 9y ago
Ah - that's an interesting perspective I had not considered. I was basing my prediction on the stronger than expected job gains, GDP growth forecasts, and how the Fed is cutting back on quantitative easing. Keeping an eye on the US inf
46.
by jjxw 9y ago
From one armchair economist to another I suspect the Federal Reserve will have something to do with what I wouldn't call a "recession" per se, but a slowing of growth through interest rate hikes.
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by jjxw 9y ago
As much as I personally think cryptocurrencies will have a difficult time achieving currency status - this is pretty much what happened during the American Revolution. Congress issued bonds to pay soldiers and for goods for the Continental
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by jjxw 9y ago
Certainly not impossible, but one thing is a disincentive to commit a 51% attack is that if you had that much computing power a more profitable use of it would be to just mine rather than create fake transactions which, if detected, could c
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by jjxw 9y ago
Fair point :) I guess the right comparison would be how much it would cost to produce another human capable of doing the SHA-256 hash by hand rather than the "fuel" to sustain it.
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by jjxw 9y ago
Capital costs may not be trivial if you factor in food required for brainpower.
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by jjxw 9y ago
The below probably fits your criteria. Probably the best piece of sports writing that I've read, DFW's love and knowledge of the game really comes through without being overwhelming to those who don't have much knowledge abou
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by jjxw 9y ago
More specifically, it allows one to short with limited downside. There are some exchanges that provide naked short positions in Bitcoin, but those have theoretic infinite downside and your broker will force you to liquidate at a loss at a c
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by jjxw 9y ago
I wouldn't say Bitcoin is even a good example of being able to diversify from nation-specific risks. China's crackdown on the currency is a great example and if the SEC or other regulatory body decides to crack down or otherwise m
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by jjxw 9y ago
"As long as the music is playing, you’ve got to get up and dance." -Charles Prince, Ex-Citibank CEO 2007 This is one of my favorite modern finance quotes on bubbles because it encapsulates so well why there is still momentum in th
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by jjxw 9y ago
A common misconception is that while Bitcoin may be deflationary in that the rate of supply creation is decreasing, it does not in any way guarantee the value of the coin. Inflation and deflation of currencies are also demand based. If dema
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by jjxw 9y ago
Sounds like a classic case of overfitting training data. Bitcoin and cryptocurrency as an asset class is so nascent that I wouldn't be making any significant bets on what the algorithm outputs even if the cross validation is good. As w
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by jjxw 9y ago
It is perplexing to me why the burden of proof was ever placed on "increasing supply decreases prices" when the mechanism by which rent control + limiting construction is supposed to benefit anyone besides those already occupying
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by jjxw 9y ago
I'll enthusiastically second the recommendation. I won't ruin too much, but their policy of not allowing mobile phones while you are in the museum to prevent you from searching anything up really helps to preserve the atmosphere.
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by jjxw 9y ago
That's the great thing about a futures market. People who want to short Bitcoin with reasonable risk management can do so now. There are a lot of people who have lost their shirts betting against Bitcoin because all you could do were n
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by jjxw 9y ago
That is sort of the joke about all securities litigation. Shareholders will often sue companies that experience price drops due to "misleading investors" and, as you mentioned, the fine or damages end up being paid for by the inve

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