Michael Saylor criticizes Warren Buffett holding $325B in cash: “They are destroying $3B a month in shareholder capital. They are generating a 3% after tax yield at best and the cost of capital is 15%. Take 12% negative real yield, $325B times 12% is what the shareholders are paying for that.” “If I had an hour alone with Buffet in a calm environment, I’d walk out and he’d say that this Bitcoin $BTC thing is… Read More »Warren Buffett vs. Michael Saylor
Having been a patent attorney for a major part of my career, I must admit that I took the openness of the US patent system for granted until when I started to think about it from the point of view of global and national strategies. I don’t know for sure what kind of a patent system is better or optimal, to be honest. But I do see problems. The patent laws were developed in the… Read More »Patents and globalization
The world is in the end time. The old order crumbles down, giving place to visible chaos and an invisible new order, simultaneously and diametrically opposing each other. The middle ground is being eliminated. Strange things are given as important signs to test people’s hearts when choosing between the two. Many parables are emerging from the realms of religion, politics, social movements, moral perceptions, science, and economics. They are all characterized by contradictions that surpass… Read More »A parable told in the end times
Failure to distinguish between money and currency is causing a lot of confusion. Money is an agreement of value. Currency is a technology that transmits value represented by the underlying money. While the two terms are often used interchangeably, there is an essential distinction between them that highlights the difference between the conceptual agreement of value and the practical means of exchanging the value. Money, in its purest form, is an agreement between parties as… Read More »The fraudulent fiat “money” and fake “digital gold”
In a published article, “Hallucination is Inevitable: An Innate Limitation of Large Language Models“, authors Ziwei Xu et al. recognize the following: “[It is] impossible to eliminate hallucination in LLM.” “Hallucination has been widely recognized to be a significant drawback for large language models (LLMs). There have been many works that attempt to reduce the extent of hallucination. These efforts have mostly been empirical so far, which cannot answer the fundamental question whether it can… Read More »AI Hallucination is Inevitable
Yann LeCun, VP & Chief AI Scientist at Meta, made an interesting post on LinkedIn about AI world models: Post | Feed | LinkedIn. The short post may just be one of the most important posts on AI. “World models should not be generative.” I always knew this was the case, but it is great to see empirical confirmation. If one is willing to go beyond the mere empirical, he may start to see the… Read More »“(AI) World models should not be generative”
TikTok is based on the realization that over 90% of digital information consumers are simply “digital pigs” who will eat whatever is fed to them. I don’t wish to comment on the politics behind TikTok controversy, but here is the founding philosophy behind TikTok: ByteDance, the parent company of TikTok, was founded in China in 2012 by Zhang Yiming and Liang Rubo based on an “epiphany” from their observation of the field of digital information:… Read More »TikTok and the digital info pig field
In contrast to a corrupt future of the world exploited by crypto, the real Bitcoin blockchain is creating a different one. Crypto does not represent the true blockchain technology. It is a distortion at best. With its promotion of outright open Ponzi schemes, it is a fraudulent misrepresentation. In contrast to crypto, the future of true blockchain technology paints a healthy picture of a world supported by a New Internet integrated with blockchain. Regardless of… Read More »The future of blockchain
The crypto industry is largely an empty bubble that will burst. Economic and financial bubbles are interesting phenomena to study. The ‘physics’ of bubbles is quite universal. The crypto bubble may seem unique, but it obeys the same law of bubbles. The trans-bubbles The most spectacular bubbles take advantage of both an expanding force and a squeezing force. The former attracts participants by taking advantage of people’s nearsightedness and greed, but the latter forces out… Read More »Crypto and trans-bubbles
In the current Artificial Intelligence (AI) development, Meta comes out competing on a different principle: opensourcing AI. Some worry that opensourcing AI would enable illicit actors (both state and private actors) to do harm. I have not formed an opinion about Meta’s open-sourcing AI, but this pushing back with a comparison between bioweapons and AI is dubious at best. When it comes to physical weapons, decentralization is proliferation. You get bombed not because you agreed with the… Read More »AI and data decentralization