woeirua

26 ms·

451.
by woeirua 4y ago
Whoops, didn't know that they were that profitable. My bad.
452.
by woeirua 4y ago
It was fraud all the way down.
453.
by woeirua 4y ago
All of the iBuyer like companies are going bankrupt. Turns out there just no way to cut costs enough to make a profit in these low margin, capital and asset intensive industries. The idea that Carvana, OpenDoor, Redfin, Zillow, etc. were
454.
by woeirua 4y ago
Who thought that giving a bunch of 20 year olds with no experience, and most importantly _no_ oversight hundreds of millions of dollars was going to end differently? Everyone involved with this deal at Sequoia capital should be fired. Did
455.
by woeirua 4y ago
Tick, tick, tick. The doomsday clock for Tether just moved closer to midnight. When Tether finally depegs, all the exchanges will go under (except maybe Coinbase and a few others that are tightly regulated). Coinbase will probably still go
456.
by woeirua 4y ago
So would you have us cede Ukraine, and Poland, and Lithuania, and Estonia to Putin? Because any direct conflict with Russia risks nuclear war? You can't give into nuclear blackmail because otherwise it makes a nuclear war _more likely
457.
by woeirua 4y ago
Ah, I see it's NATO's responsibility to deescalate? Not Putin's?
458.
by woeirua 4y ago
One missile just crossing over the border is an accident. It's kind of hard to see how two missiles could cross the border by more than a few miles unintentionally. I mean, we are talking about Russian cruise missiles, so maybe their I
459.
by woeirua 4y ago
Not if they don't want to go to jail for fraud. These are publicly traded companies.
460.
by woeirua 4y ago
For those of you confused as to how these companies are running at all given that they have never turned a profit the answer is: 1 - they pretty much all raised a ton of capital by going public, 2 - they have all taken on significant amount
461.
by woeirua 4y ago
Now we get the cascade of exchange failures, followed by the absolute collapse of all Crypto prices. If you have any money on the exchanges now is the time to get out.
462.
by woeirua 4y ago
Boom. Another one bites the dust. There are no circuit breakers here folks, and no one to come to the rescue. I would be very nervous about having any significant amount of crypto on an exchange right now.
463.
by woeirua 4y ago
SBF just made a tweet thread where he tried to apologize, while also distancing himself from FTX.US. Just more lies. Why anyone would believe him is beyond me. My guess, is he's desperately trying to avoid a run on FTX.US to keep the S
464.
by woeirua 4y ago
Tether is the big one. If Tether collapses it's going to take down Binance and probably every other exchange with it. People have been warning about this for quite some time [1]. Tether is clearly under capitalized, and if you believe
465.
by woeirua 4y ago
You're not getting it. Vendors almost all immediately convert Crypto to USD or their local currency. When the exchanges collapse that will no longer be possible. Poof, your ability to use Crypto also ceases at that very moment. You are
466.
by woeirua 4y ago
Owning coins that can't be exchanged for anything is kind of a pointless endeavor, is it not? The value of most coins is going to zero as a result of this. Crypto is going to be a frigid wasteland after this for quite a while.
467.
by woeirua 4y ago
We're starting to see the cascade of exchange failures, just like we saw in 2008 with the banks during the GFC. The exchanges all made loans to one another in order to backstop their customer's assets. Now that the value of thos
468.
by woeirua 4y ago
I'll one up you: Bitcoin at zero by March 1st. This crash is going to take down USDT/Binance and the entire ecosystem around it.
469.
by woeirua 4y ago
Honestly, I think this is a really dumb move by Binance. They have taken a look under the hood, determined that FTX is bankrupt and then told everyone that is the case. Now there's going to be a widespread crypto panic that is going t
470.
by woeirua 4y ago
At this point, they don't actually have to do anything because half of the country is convinced that the Russians interfered enough to get Trump elected. Thus every time that they make these statements they're just rubbing salt in
471.
by woeirua 4y ago
It’s going to take time for this to materialize. Presumably laid off engineers have access to significant reserves, many of them will be able to ride out a short term period of unemployment. Now, if this turns into a torrent of layoffs acro
472.
by woeirua 4y ago
Here's the thing though, if you're Karpathy and you are 100% confident that Tesla's approach is on the cusp of delivering full L5 autonomous driving, then why leave? Surely, Tesla would become the most valuable company overni
473.
by woeirua 4y ago
No, my point was that the fleet itself adds entropy to the system because it creates a lot of noise for engineers to track down edge cases and other weird things that happen when you're collecting data from a lot of "sensors"
474.
by woeirua 4y ago
Andrej's argument about more sensors adding entropy strikes me as disingenuous considering that in the next question he then says that Tesla's biggest advantage over everyone else is "the fleet", which clearly introduces
475.
by woeirua 4y ago
It is almost certain at this point that current EV battery chemistry is going to be obsolete within 10 years, and there is a good chance that all lithium ion batteries today will be considered a safety hazard before then as well. It's
476.
by woeirua 4y ago
Did he? He was acquitted by a jury.
477.
by woeirua 4y ago
When the shit starts flying, the execs and marketing team are absolutely going to throw the engineers under the bus. "We were just repeating what we were told by the engineers." "We didn't know any better." It happe
478.
by woeirua 4y ago
Yes, and in a sane world the SEC and FTC would have slapped Musk down.
479.
by woeirua 4y ago
You might have missed when the DOJ indicted the Chief Technical Pilot for the 737 Max as a result of the crashes [1]. BTW, he was later acquitted by a jury. [1] https://www.justice.gov/opa/pr/former-boeing-737-max-
480.
by woeirua 4y ago
You can't be serious. The shareholders demand returns, but the EV side of the company already has been successful enough to keep them placated. No one forced Musk to go out there and repeatedly claim that Telsa's would be able to

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