The author argues that this con has been caused by three relatively simple levers: Low dividend yields, legalization of stock buybacks, and executive compensation packages that generate lots of wealth under short pump-and-dump timelines.
If those are the causes, then simple regulatory changes to make stock buybacks illegal again, limit the kinds of executive compensation contracts that are valid, and incentivize higher dividend yields/penalize sales yields should return the market to the previous long-term-optimized behavior.
I doubt that you could convince the politicians and financiers who are currently pulling value out of a fragile and inefficient economy under the current system to make those changes, and if the changes were made I doubt they could last or be enforced given the massive incentives to revert to our broken system. I think you're right that it will take a huge disaster that the wealthy and powerful are unable to dodge and unable to blame on anything but their own actions, I just don't know what that event might look like.
I disagree. Those place the problem at the corporate level, when it's clearly extended through to being a monetary issue. The first thing I would like to see is the various Fed and banking liquidity and credit facilities go away. They don't facilitate stability, but a fiscal shell game that has allowed numerous zombie companies to live far past their solvency. This in turn encourages widespread fiscal recklessness.
We're headed for a crunch anyway. My observation is that a controlled demolition has been attempted several times over the past few years, but in every instance, someone has stepped up to cry about the disaster that would occur if incumbents weren't shored up. Of course, that just makes the next occurrence all the more dire.
Genuine question, I don't understand the economics of the stock market and as such I participate very little (probably to my detriment) I sort of figure the original theory went like this.
"We have an idea to run a for profit endeavor but do not have money to set it up. If you buy from us a portion of our future profit we will have the immediate funds to set up the business and you will get a payout for the indefinite future."
And the stock market is for third party buying and selling of these "shares of profit"
Under these conditions are not all stocks a sort of millstone of perpetual debt for the company and it would behoove them to remove that debt, that is, buyback the stock. Naively I assume this is a good thing.
If you don't understand a concept that's part of the stock market, reading the Investopedia article will go a long way. It's a nice site for basic overviews. https://www.investopedia.com/terms/b/buyback.asp
The short answer is that the trend of frequent stock buybacks as discussed here is not being used to "eliminate debt" (restore private ownership), it's being used to puff up the stock price as a non-taxable alternative to dividend payouts (simply increasing the stock price by reducing supply does not realize any gains, while paying stockholders "interest" directly is subject to income tax). This games the metric of "stock price", which is used as a proxy for all sorts of things including executive performance and compensation.
My view is that you don't want more layers. Chasing ever increasing share prices favor shareholders (limited amount of generally rich people) over customers (likely to be average people). The incentives get out of whack.
There was a long standing illusion that people care about long-term thinking. But given the opportunity, people seem to take the short-term road with high risks, instead of chasing a long-term gain, as they, themselves, might not experience the gain.
The timeframe of expectations have just shifted, as everyone wants to experience everything. Just knowing the possibility of things that can happen already affects our desires. And since everyone has a limited time in life, we try to maximize our opportunities to experience as many things as possible.
It’s interesting to talk about this to older generation (like my parents in their 70s), because there wasn’t such a rush back then. I took my mom out to some cities around the world, and she mentioned how she really never even dreamed of a possibility of being in such places. On the other hand, when you grow in a world of technically unlimited possibilities, you have more dreams.
Sorry for rambling, but in my opinion, this somewhat affects economics of the new generation as well. Who cares of long term gains if there’s a chance of nobody experiencing the gain, might as well risk it for the short term one for a possibility of some reward.
Stupidity, greed, and straight-up evil intentions do a bunch of the work, but ultimately short-term thinking wins because it's an attractor state. The influence of the wealthy/powerful is always outsized, but attractors and common-knowledge also create a natural conspiracy that doesn't exactly have a center.
So with AI, the way the natural conspiracy works out is like this. Leaders at the top might suspect it's bullshit, but don't care, they always fail upwards anyway. Middle management at non-tech companies suspect their jobs are in trouble on some timeline, so they want to "lead a modernization drive" to bring AI to places they know don't need it, even if it's a doomed effort that basically defrauds the company owners. Junior engineers see a tough job market, want to devalue experience to compete.. decide that only AI matters, everything that came before is the old way. Owners and investors hate expensive senior engineers who don't have to bow and scrape, think they have to much power, would love to put them in their place. Senior engineers who are employed and maybe the most clear-eyed about the actual capabilities of technology see the writing on the wall.. you have to make this work even if it's handed to you in a broken state, because literally everyone is gunning for you. Those who are unemployed are looking around like well.. this is apparently the game one must play. Investors will invest in any horrible doomed thing regardless of what it is because they all think they are smarter than other investors and will get out in just in time. Owners are typically too disconnected from whatever they own, they just want to exit/retire and already mostly in the position of listening to lieutenants.
At every level for every stakeholder, once things have momentum they don't need be a healthy/earnest/noble/rational endeavor any more than the advertising or attention economy did before it. Regardless of the ethics there or the current/future state of any specific tech.. it's a huge problem when being locally rational pulls us into a state that's globally irrational
Yes, that "attractor state" you describe is what I meant by "if the changes were made I doubt they could last or be enforced given the massive incentives to revert to our broken system". The older I get and the more I learn, the less I'm willing to ascribe faults in our society to individual evils or believe in the existence of intentionally concealed conspiracies rather than just seeing systemic flaws and natural conspiracies.
Using a naive rectangular approximation (40x10^6m x 20x10^6m - infinite resolution at the poles), that's a map of the Earth with a resolution of 37mm per pixel at the equator. Lower resolution than I expected!
The Minecraft you know and love is a fantastic game, especially for kids. Top 10 all time, IMO, in terms of creativity and education and development. And you can easily set up a personal friends and family server/realm, and there are tons of free mods and maps.
The problem is that malicious actors can build Roblox in anything. It's not hard to get kids hooked and begging their parents for lucrative in-game gambling currency.
I am probably not the right generation but all attempts to engage with Minecraft with my children have always ended badly. It seems very tedious and clunky. The learning curve seems steeper than playing factorio casually.
Yeah, I tried playing it with my son, but I've never quite understood what you're supposed to do.
I grew up on RPGs and adventure games where you usually had an objective out there in the world. In comparison, Minecraft is extremely solipsistic; there are no structures in the world to meaningfully interact with, and it seems one is supposed to simply treat the world as a sort of Lego set.
You're supposed to build a place to live and sleep, and then you find some magma and water and create a portal to a less friendly place. Eventually you find the bad dragon and murder it.
That was added to the game after its creator got cynical about it. He said it needed an ending to justify being 1.0, then he sold it to Microsoft because he hated being popular and wanted the game destroyed, as well as money. The actual goal of Minecraft should be whatever it was in Alpha 1.1.2_01.
There are several ways of enjoying Minecraft. I play it a lot with my kids (5 and 10) at the moment. They love creative mode, spawning mobs and just building strange houses. When I played with my friends, sibling snd parents, it was all about survival mode everyone would create their own huge buildings and connect up via railway, visit each other and make fun stuff. Then there was the whole red stone rabbit hole…
It's a cultural thing. The learning curve has always been bad but it was bypassed by the initial cultural penetration of people playing it on youtube and now the learning curve is a thing learnt through prior knowledge instead of trial and error
I think the issue is more about what else has to go into or be connected to that container. Posthog isn't really useful if it's air-gapped. You're going to give it keys to access all kinds of juicy databases and analytics, and those NPM tokens, AWS/GCP/Azure credentials, and environment variables are exactly what it exfiltrates.
I don't run much on the root OS of my dev machine, basically everything is in a container or VM of some kind, but that's more so that I can reproduce my environment by copying a VMDK than in an effort to limit what the container can do to itself and data it has access to. Yeah, even with root access to a VM guest, an attacker they won't get my password manager, personal credit card, socials, etc. that I only use from the host OS... But they'll get everything that the container contains or has access to, which is often a lot of data!
You're severely limiting the blast radius. This malware works by exfiltrating secrets during installation, if I understood it correctly. If you would properly containerize your app and limit permissions to what is absolutely required, you could be compromised and still suffer little to no consequences.
Of course, this is not a real defense on its own, its just good practice to limit blast radius, much like not giving everybody admin rights.
> Upon execution, the malware downloads and runs TruffleHog to scan the local machine, stealing sensitive information such as NPM Tokens, AWS/GCP/Azure credentials, and environment variables.
Even a properly containerized app will still have these things, because you need things like environment variables (that contain passwords, api keys, etc) for your app to function.
You could create/run thin proxies for every external service that handle the auth side, and run each in a separate container. Orchestrate everything with docker-compose. Need to connect to cloud services for local development? Have a container with a proxy that transparently handles authentication. Now only that container has the secrets for talking to that service.
That's a lot of work though, and increases the difference between your local dev environment and prod.
Sure, but only the container is affected and it is always your responsibility to grant as little access as possible to the various credentials you may need to supply that environment. AFAICT with this worm, if you don't supply write-level GitHub credentials to the container (and you shouldn't!) and you install infected packages, the exploit goes no further.
Some systems seem to produce images where the pixel arrangement matches the sensor layout, which moves when you rotate the device, and they'll add EXIF metadata to indicate the orientation.
Other cameras and phones and apps produce images where the device adjusts the aspect ratio and order of the array of pixels in the image regardless of the way the sensor was pointed, such that the EXIF orientation is always the default 0-degree rotation. I'd argue that this is simpler, it's the way that people ignorant of the existence of the metadata method would expect the system to work. That method always works on any device or browser, rotating with EXIF only works if your whole pipeline is aware of that method.
The advantage of the EXIF approach is you don't have to do nearly as much post processing of the data? In particular, I don't expect my camera application to need to change memory layout just because I have rotated my camera. So, if you want it to change the rows/columns on saving the image, that has to be post capture from the sensor. Right?
I think this is what you meant by "some systems" there. But, I would expect that of every sensor system? I legit never would have considered that they would try the transpose on saving the image off the sensor.
The transpose is absolutely trivial compared to debayering and compression. It's a lot simpler to do it upfront and not worry about rotation at any later point.
And the odds are very high your camera app did already switch memory layouts when you rotated, at least for the UI. Doing that isn't a big deal.
I mean, I get that it isn't incredibly difficult, but it still feels unnecessary. The cynic in me thinks this explains a bit of why the app based cameras are garbage.
Do you expect the same when recording video if the user rotates the device while recording? Timestamping an orientation flag is trivial. Why not lean on that?
System designers and regulators are aware that the main engine is a single point of failure, but they generally consider loss of main engine power to not be an immediate emergency. There are redundant systems to retain electrical and hydraulic power, and losing motive power isn't generally an instant emergency. Power and steering together is an emergency, yes, and steering is degraded without power, but had they still been able to use the rudder they wouldn't have hit the bridge.
Steering without power at 8 knots would be pretty inefficient (and was - they tried to steer as the power came back). Loss of power in ports, narrow straits etc is recognized as a major issue which is why an engineer and ETO must be in the engine control room during such passages.
They don't have to do that today, though. Remember original Google? Or original Gmail? Neither had prominent ads for the first few years, a couple decades later the ads are everywhere.
A minivan with tinted front windows is not OK, because pedestrians and other drivers at intersections can't see where the driver is looking. You don't need to be able to see the rear seats, which is why those can be opaque on a panel van.
I have no issues with rear windows being tinted or not. Sure, express yourself however you see fit. It's the front windows that should not be (but often are) tinted, and yet police will watch them drive by and not lift a finger.
"How Short Term Thinking Won" - https://youtu.be/qGwU2dOoHiY
The author argues that this con has been caused by three relatively simple levers: Low dividend yields, legalization of stock buybacks, and executive compensation packages that generate lots of wealth under short pump-and-dump timelines.
If those are the causes, then simple regulatory changes to make stock buybacks illegal again, limit the kinds of executive compensation contracts that are valid, and incentivize higher dividend yields/penalize sales yields should return the market to the previous long-term-optimized behavior.
I doubt that you could convince the politicians and financiers who are currently pulling value out of a fragile and inefficient economy under the current system to make those changes, and if the changes were made I doubt they could last or be enforced given the massive incentives to revert to our broken system. I think you're right that it will take a huge disaster that the wealthy and powerful are unable to dodge and unable to blame on anything but their own actions, I just don't know what that event might look like.
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