Group items tagged

It’s well-known that most of the emails are composed by nonnative speakers of English, as is clear from the many grammatical and punctuation mistakes, broken syntax, missing words, and malapropisms (“the will to personify the façade to its practical conclusion” for “pursue the charade”). With so many mistakes, how can this language really fool anyone? Often, victims know the message comes from a nonnative speaker, or they may be nonnative English speakers themselves and may not always recognize grammatical errors.

The scammers make extraordinary efforts to use technical, military, financial or otherwise professional language in a clumsy caricature of what formal, educated English sounds like (“government officials . . . awarded themselves contracts that were grossly over-invoiced in various ministries and parastatals”) to keep up the pretence of being a barrister, a brigadier-general, or a bank official.

It’s a simple scam, but appears to be effective when it reaches credulous types who are willing to ignore the warning signs in search of a treasure hunting adventure that can make a life extraordinary for a while, before it all ends in grief.

It’s a lesson to remember as we watch the crypto space melt down, with ex-billionaire Sam Bankman-Fried

It’s not like perfidy in crypto was some hidden secret. At the top of the market, back in December 2021, I wrote a piece very explicitly saying that crypto was a set of Ponzi schemes. It went viral, and I got a huge amount of hate mail from crypto types

one of the more bizarre aspects of the crypto meltdown is the deep anger not just at those who perpetrated it, but at those who were trying to stop the scam from going on. For instance, here’s crypto exchange Coinbase CEO Brian Armstrong, who just a year ago was fighting regulators vehemently, blaming the cops for allowing gambling in the casino he helps run.

FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore. Punishing US companies for this makes no sense.

many crypto ‘enthusiasts’ watching Gensler discuss regulation with his predecessor “called for their incarceration or worse.”

Cryptocurrencies are securities, and should fit under securities law, which would have imposed rules that would foster a de facto ban of the entire space. But since regulators had not actually treated them as securities for the last ten years, a whole new gray area of fake law had emerged

Almost as soon as he took office, Gensler sought to fix this situation, and treat them as securities. He began investigating important players

But the legal wrangling to just get the courts to treat crypto as a set of speculative instruments regulated under securities law made the law moot

In May of 2022, a year after Gensler began trying to do something about Terra/Luna, Kwon’s scheme blew up. In a comically-too-late-to-matter gesture, an appeals court then said that the SEC had the right to compel information from Kwon’s now-bankrupt scheme. It is absolute lunacy that well-settled law, like the ability for the SEC to investigate those in the securities business, is now being re-litigated.

Securities and Exchange Commission Chair Gary Gensler, who took office in April of 2021 with a deep background in Wall Street, regulatory policy, and crypto, which he had taught at MIT years before joining the SEC. Gensler came in with the goal of implementing the rule of law in the crypto space, which he knew was full of scams and based on unproven technology. Yesterday, on CNBC, he was again confronted with Andrew Ross Sorkin essentially asking, “Why were you going after minor players when this Ponzi scheme was so flagrant?”

it wasn’t just the courts who were an impediment. Gensler wasn’t the only cop on the beat. Other regulators, like those at the Commodities Futures Trading Commission, the Federal Reserve, or the Office of Comptroller of the Currency, not only refused to take action, but actively defended their regulatory turf against an attempt from the SEC to stop the scams.

Behind this was the fist of political power. Everyone saw the incentives the Senate laid down when every single Republican, plus a smattering of Democrats, defeated the nomination of crypto-skeptic Saule Omarova in becoming the powerful bank regulator at the Comptroller of the Currency

Instead of strong figures like Omarova, we had a weakling acting Comptroller Michael Hsu at the OCC, put there by the excessively cautious Treasury Secretary Janet Yellen. Hsu refused to stop bank interactions with crypto or fintech because, as he told Congress in 2021, “These trends cannot be stopped.”

It’s not just these regulators; everyone wanted a piece of the bureaucratic pie. In March of 2022, before it all unraveled, the Biden administration issued an executive order on crypto. In it, Biden said that virtually every single government agency would have a hand in the space.

That’s… insane. If everyone’s in charge, no one is.

And behind all of these fights was the money and political prestige of some most powerful people in Silicon Valley, who were funding a large political fight to write the rules for crypto, with everyone from former Treasury Secretary Larry Summers to former SEC Chair Mary Jo White on the payroll.

(Even now, even after it was all revealed as a Ponzi scheme, Congress is still trying to write rules favorable to the industry. It’s like, guys, stop it. There’s no more bribe money!)

Moreover, the institution Gensler took over was deeply weakened. Since the Reagan administration, wave after wave of political leader at the SEC has gutted the place and dumbed down the enforcers. Courts have tied up the commission in knots, and Congress has defanged it

Under Trump crypto exploded, because his SEC chair Jay Clayton had no real policy on crypto (and then immediately went into the industry after leaving.) The SEC was so dormant that when Gensler came into office, some senior lawyers actually revolted over his attempt to make them do work.

In other words, the regulators were tied up in the courts, they were against an immensely powerful set of venture capitalists who have poured money into Congress and D.C., they had feeble legal levers, and they had to deal with ‘crypto enthusiasts' who thought they should be jailed or harmed for trying to impose basic rules around market manipulation.

The bottom line is, Gensler is just one regulator, up against a lot of massed power, money, and bad institutional habits. And we as a society simply made the choice through our elected leaders to have little meaningful law enforcement in financial markets, which first became blindingly obvious in 2008 during the financial crisis, and then became comical ten years later when a sector whose only real use cases were money laundering

, Ponzi scheming or buying drugs on the internet, managed to rack up enough political power to bring Tony Blair and Bill Clinton to a conference held in a tax haven billed as ‘the future.’

One measure created was the Paycheck Protection Program, or PPP, which gives loans to businesses to keep employees on the payroll.

Economic Injury Disaster Loans, a program designed to provide loans to small businesses and agricultural entities, was also a target for fraud. The department said it has seized $580 million in proceeds so far from fraudulent loan applications.

Unemployment insurance — weekly federal unemployment benefits worth $600 a week — also came on line because of the CARES Act.

Most notable among these scams are the fake cures and treatments for COVID-19. These have run from attempts to sell everything from industrial bleach to colloidal silver as a miracle cure or treatment for the virus.

According to the memo, $626 million in funds had been seized or forfeited due to civil and criminal investigation by the Justice Department involving the Economic Injury Disaster Loans and PPP measures. The subcommittee memo said that amounts to "less than 1% of the nearly $84 billion in potential fraud identified in these programs."

The ever increasing list of fat-burning supplements is industry driven, and is likely to grow at a rate that is not and cannot be matched by similar increase in scientific underpinning.

In other words, marketers are quick to announce miracle solutions based of the flimsiest of evidence collected on a few lab mice or a cell culture.

Health claims were introduced in 1994, have been so miserably abused and have become so utterly misleading that it’s just time to say goodbye.

Recent episodes have focused on mainstream tech stories — the crypto crash, the Netflix bubble bursting — but others go down truly weird rabbit holes, like the mysterious world of Katie Couric CBD scams on Facebook.

Begun during the early days of quarantine in March 2020, this affable show feels like eavesdropping on a conversation between two internet-savvy friends

“One Click” explores the stories of other young DNP victims, whose deaths were all caused by a combination of predatory marketing, toxic diet culture and unregulated online pharmacies. It’s upsetting but vital listening.

Delving into the deepest recesses of the dark web, “Hunting Warhead” follows a monthslong investigation by Einar Stangvik, the hacker, and Hakon Hoydal, the journalist, that ultimately led to the downfall of a local politician.

In a bizarre twist, the hack turned out to be motivated by the impending release of a movie named “The Interview,” (starring Seth Rogen and James Franco), which depicted a fictional plot to assassinate Kim Jong-un of North Korea.

This wry, richly reported podcast from the BBC World Service chronicles every twist and turn of the saga and its implications far beyond Hollywood.

Ben Brock Johnson and Amory Sivertson, told stories inspired specifically by the quixotic virtual communities Reddit creates and the everyday mysteries it spotlights. (One classic episode focuses on a Reddit thread about a man who stumbled on a huge, inexplicable pile of plates in rural Pennsylvania.)

Cybercrime has snowballed so rapidly that the world has been caught off guard; last year’s ransomware attack on a major U.S. pipeline highlighted just how vulnerable many of our institutions are, not to mention our individual data.

The hosts, Dave Bittner and Joe Carrigan, are cybersecurity experts who emphasize solutions as they unfurl tales of social engineering, phishing scams and online con artists of every stripe.

I think people are enervated not just by the Sisyphean pointlessness of their individual labors but also by the fact that they’re working in and for a society in which, increasingly, they have zero faith or investment. The future their elders are preparing to bequeath to them is one that reflects the fondest hopes of the same ignorant bigots a lot of them fled their hometowns to escape.

It turns out that millions of people never actually needed to waste days of their lives sitting in traffic or pantomime “work” under managerial scrutiny eight hours a day

We learned that nurses, cashiers, truckers and delivery people (who’ve always been too busy to brag about it) actually ran the world and the rest of us were mostly useless supernumeraries. The brutal hierarchies of work shifted, for the first time in recent memory, in favor of labor, and the outraged whines of former social Darwinists were a pleasure to savor.

Of course, everyone is still busy — worse than busy, exhausted, too wiped at the end of the day to do more than stress-eat, binge-watch and doomscroll — but no one’s calling it anything other than what it is anymore: an endless, frantic hamster wheel for survival.

The pandemic was the bomb cyclone of our discontents

American conservatism, which is demographically terminal and knows it, is acting like a moribund billionaire adding sadistic codicils to his will.

An increasingly popular retirement plan is figuring civilization will collapse before you have to worry about it

Midcentury science fiction writers assumed that the increased productivity brought on by mechanization would give workers an oppressive amount of leisure time, that our greatest threats would be boredom and ennui. But these authors’ prodigious imaginations were hobbled by their humanity and rationality; they’d forgotten that the world is ordered not by reason or decency but by rapacious avarice.

In the past few decades, capitalism has exponentially increased the creation of wealth for the already incredibly wealthy at the negligible expense of the well-being, dignity and happiness of most of humanity, plus the nominal cost of a mass extinction and the destruction of the biosphere — like cutting out the inefficient business of digestion and metabolism by pouring a fine bottle of wine directly into the toilet, thereby eliminating the middleman of you.

Everyone knows how productive you can be when you’re avoiding something. We are currently experiencing the civilizational equivalent of that anxiety you feel when you have something due the next day that you haven’t even started thinking about and yet still you sit there, helplessly watching whole seasons of mediocre TV or compulsively clicking through quintillions of memes even as your brain screams at you — the same way we scream at our politicians about guns and abortion and climate change — to do something.

Enough with the busywork already. We’ve been “productive” enough — produced way too much, in fact. And there is too much that urgently needs to be done: a republic to salvage, a civilization to reimagine and its infrastructure to reinvent, innumerable species to save, a world to restore and millions who are impoverished, imprisoned, illiterate, sick or starving. All while we waste our time at work.

When we talk about the reef dying, what we are talking about are the corals that form the reef’s structure – the things that when in a good state of health can be splendorous enough to support about 69,000 jobs in Queensland and add about $6bn to Australia’s economy every year.

The Great Barrier Reef has suffered mass coral bleaching three times – in 1998, 2002 and 2016 – with a fourth episode now unfolding. The cause is increasing ocean temperatures.

So it seems we are now at a stage where absolutely nothing is real unless you have seen it for yourself,

Senator Pauline Hanson and her One Nation climate science-denying colleagues tried to pull a similar stunt last year by taking a dive on a part of the reef that had escaped bleaching and then claiming this as proof that everything was OK everywhere else.

Corals bleach when they are exposed to abnormally high ocean temperatures for too long. Under stress, the corals expel the algae that give them their colour and more of their nutrients.

After the 2016 bleaching, a quarter of all corals on the reef, mostly located in the once “pristine” northern section, died before there was a chance for recovery.

Essentially, the study found the only measure that would give corals on the reef a fighting chance was to rapidly reduce greenhouse gas emissions.

Some commentators have suggested a key cause of the 2016 bleaching was the El Niño weather pattern that tends to deliver warmer global temperatures. But Hughes says that before 1998, the Great Barrier Reef went through countless El Niños without suffering the extensive mass bleaching episodes that are being seen, photographed, filmed and documented now.

The author retorts “I really have an issue with the word hoax.” He regards himself as a performance artist. His response – “It’s the people who reported it who are deceiving their audience.”

Why is fake news so popular on newssites? Here are two reasons: first, it provides emotional “buzz.” Second, because it can make a lot of money. As the Washington Bureau chief of the Pulitzer winning Huffington Post lamented, “If you throw something up without fact checking it, and you’re the first one to put it up, and you get millions and millions of views, and later it’s proved false, you still got those views. That’s a problem. The incentives are all wrong.”Especially when, as at places like Bloomberg, remuneration is based on the number of hits an article receives. But incentives are wrong not just for news gathering organizations.

Americans continue to believe important historical “facts” that are untrue. After 9/11, Americans were incensed to hear that the many in the Middle East thought Osama bin Laden’s horrifying attack was the product of a CIA-Mossad plot. To this day, large majorities in countries like Pakistan think the massacre of 9/11 was created in Washington or Tel Aviv.

Yet close to a majority of Americans believe that Saddam Hussein, tyrant of Iraq, was in cahoots with Al-Qaeda, especially before the 9/11 attack. The Bush administration told them so.Which people in the Middle East rightly regard as preposterous.Saddam Hussein was the leader of a boldly secular, Arabist tyranny. Sunni fanatics like Al Qaeda were his regime’s blood enemies. That they would work together rather than murder each other was just insane. Welcome to the world of fict and faction.

What can we learn from this? Plausibility is not truth; when something is “too good to be true” it generally isn’t; institutions increasingly do not back up what they proclaim and sell.And the “free informational marketplace” of the Internet is a wonderful site for fraud, scams, lies, plausible lies, and pleasant, beautiful untruths. So we all need our own truth detectors.

it is as if two magic coins, flipped at different corners of the cosmos, always came up heads or tails together. (The spooky action takes place only in the context of simultaneous measurement. The particles share states, but they don’t send signals.)

fashion, temperament, zeitgeist, and sheer tenacity affected the debate, along with evidence and argument.

The certainty that spooky action at a distance takes place, Musser says, challenges the very notion of “locality,” our intuitive sense that some stuff happens only here, and some stuff over there. What’s happening isn’t really spooky action at a distance; it’s spooky distance, revealed through an action.

Why, then, did Einstein’s question get excluded for so long from reputable theoretical physics? The reasons, unfolding through generations of physicists, have several notable social aspects,

What started out as a reductio ad absurdum became proof that the cosmos is in certain ways absurd. What began as a bug became a feature and is now a fact.

“If poetry is emotion recollected in tranquility, then science is tranquility recollected in emotion.” The seemingly neutral order of the natural world becomes the sounding board for every passionate feeling the physicist possesses.

Musser explains that the big issue was settled mainly by being pushed aside. Generational imperatives trumped evidentiary ones. The things that made Einstein the lovable genius of popular imagination were also the things that made him an easy object of condescension. The hot younger theorists patronized him,

There was never a decisive debate, never a hallowed crucial experiment, never even a winning argument to settle the case, with one physicist admitting, “Most physicists (including me) accept that Bohr won the debate, although like most physicists I am hard pressed to put into words just how it was done.”

Arguing about non-locality went out of fashion, in this account, almost the way “Rock Around the Clock” displaced Sinatra from the top of the charts.

The same pattern of avoidance and talking-past and taking on the temper of the times turns up in the contemporary science that has returned to the possibility of non-locality.

the revival of “non-locality” as a topic in physics may be due to our finding the metaphor of non-locality ever more palatable: “Modern communications technology may not technically be non-local but it sure feels that it is.”

Living among distant connections, where what happens in Bangalore happens in Boston, we are more receptive to the idea of such a strange order in the universe.

The “indeterminacy” of the atom was, for younger European physicists, “a lesson of modernity, an antidote to a misplaced Enlightenment trust in reason, which German intellectuals in the 1920’s widely held responsible for their country’s defeat in the First World War.” The tonal and temperamental difference between the scientists was as great as the evidence they called on.

Science isn’t a slot machine, where you drop in facts and get out truths. But it is a special kind of social activity, one where lots of different human traits—obstinacy, curiosity, resentment of authority, sheer cussedness, and a grudging readiness to submit pet notions to popular scrutiny—end by producing reliable knowledge

What was magic became mathematical and then mundane. “Magical” explanations, like spooky action, are constantly being revived and rebuffed, until, at last, they are reinterpreted and accepted. Instead of a neat line between science and magic, then, we see a jumpy, shifting boundary that keeps getting redrawn

Real-world demarcations between science and magic, Musser’s story suggests, are like Bugs’s: made on the move and as much a trap as a teaching aid.

In the past several decades, certainly, the old lines between the history of astrology and astronomy, and between alchemy and chemistry, have been blurred; historians of the scientific revolution no longer insist on a clean break between science and earlier forms of magic.

Where once logical criteria between science and non-science (or pseudo-science) were sought and taken seriously—Karl Popper’s criterion of “falsifiability” was perhaps the most famous, insisting that a sound theory could, in principle, be proved wrong by one test or another—many historians and philosophers of science have come to think that this is a naïve view of how the scientific enterprise actually works.

They see a muddle of coercion, old magical ideas, occasional experiment, hushed-up failures—all coming together in a social practice that gets results but rarely follows a definable logic.

Yet the old notion of a scientific revolution that was really a revolution is regaining some credibility.

David Wootton, in his new, encyclopedic history, “The Invention of Science” (Harper), recognizes the blurred lines between magic and science but insists that the revolution lay in the public nature of the new approach.

What killed alchemy was the insistence that experiments must be openly reported in publications which presented a clear account of what had happened, and they must then be replicated, preferably before independent witnesses.

Wootton, while making little of Popper’s criterion of falsifiability, makes it up to him by borrowing a criterion from his political philosophy. Scientific societies are open societies. One day the lunar tides are occult, the next day they are science, and what changes is the way in which we choose to talk about them.

Wootton also insists, against the grain of contemporary academia, that single observed facts, what he calls “killer facts,” really did polish off antique authorities

once we agree that the facts are facts, they can do amazing work. Traditional Ptolemaic astronomy, in place for more than a millennium, was destroyed by what Galileo discovered about the phases of Venus. That killer fact “serves as a single, solid, and strong argument to establish its revolution around the Sun, such that no room whatsoever remains for doubt,” Galileo wrote, and Wootton adds, “No one was so foolish as to dispute these claims.

everal things flow from Wootton’s view. One is that “group think” in the sciences is often true think. Science has always been made in a cloud of social networks.

There has been much talk in the pop-sci world of “memes”—ideas that somehow manage to replicate themselves in our heads. But perhaps the real memes are not ideas or tunes or artifacts but ways of making them—habits of mind rather than products of mind

science, then, a club like any other, with fetishes and fashions, with schemers, dreamers, and blackballed applicants? Is there a real demarcation to be made between science and every other kind of social activity

The claim that basic research is valuable because it leads to applied technology may be true but perhaps is not at the heart of the social use of the enterprise. The way scientists do think makes us aware of how we can think

She took pride in the basic things, like cleaning engine parts. And she only hinted at the truth: When one fan told her in October, “It’s great to be young,” Soya replied, “Youth does not mean a certain period of life, but how to hold your heart.”

She seemed, well, happy, and FaceApp had made her that way. Creating the lifelike impostor had taken only a few taps: He changed the “Gender” setting to “Female,” the “Age” setting to “Teen,” and the “Impression” setting — a mix of makeup filters — to a glamorous look the app calls “Hollywood.”

Soya pouted and scowled on rare occasions when Nakajima himself felt frustrated. But her baseline expression was an extra-wide smile, activated with a single tap.

Nakajima grew his shimmering hair below his shoulders and raided his local convenience store for beauty supplies he thought would make the FaceApp images more convincing: blushes, eyeliners, concealers, shampoos.

“When I compare how I feel when I started to tweet as a woman and now, I do feel that I’m gradually gravitating toward this persona … this fantasy world that I created,” Nakajima said. “When I see photos of what I tweeted, I feel like, ‘Oh. That’s me.’ ”

The sensation Nakajima was feeling is so common that there’s a term for it: the Proteus effect, named for the shape-shifting Greek god. Stanford University researchers first coined it in 2007 to describe how people inhabiting the body of a digital avatar began to act the part

People made to appear taller in virtual-reality simulations acted more assertively, even after the experience ended. Prettier characters began to flirt.

What is it about online disguises? Why are they so good at bending people’s sense of self-perception?

they tap into this “very human impulse to play with identity and pretend to be someone you’re not.”

Users in the Internet’s early days rarely had any presumptions of authenticity, said Melanie C. Green, a University of Buffalo professor who studies technology and social trust. Most people assumed everyone else was playing a character clearly distinguished from their real life.

“This identity play was considered one of the huge advantages of being online,” Green said. “You could switch your gender and try on all of these different personas. It was a playground for people to explore.”

It wasn’t until the rise of giant social networks like Facebook — which used real identities to, among other things, supercharge targeted advertising — that this big game of pretend gained an air of duplicity. Spaces for playful performance shrank, and the biggest Internet watering holes began demanding proof of authenticity as a way to block out malicious intent.

The Web’s big shift from text to visuals — the rise of photo-sharing apps, live streams and video calls — seemed at first to make that unspoken rule of real identities concrete. It seemed too difficult to fake one’s appearance when everyone’s face was on constant display.

Now, researchers argue, advances in image-editing artificial intelligence have done for the modern Internet what online pseudonyms did for the world’s first chat rooms. Facial filters have allowed anyone to mold themselves into the character they want to play.

researchers fear these augmented reality tools could end up distorting the beauty standards and expectations of actual reality.

Some political and tech theorists worry this new world of synthetic media threatens to detonate our concept of truth, eroding our shared experiences and infusing every online relationship with suspicion and self-doubt.

Deceptive political memes, conspiracy theories, anti-vaccine hoaxes and other scams have torn the fabric of our democracy, culture and public health.

But she also thinks about her kids, who assume “that everything online is fabricated,” and wonders whether the rules of online identity require a bit more nuance — and whether that generational shift is already underway.

“Bots pretending to be people, automated representations of humanity — that, they perceive as exploitative,” she said. “But if it’s just someone engaging in identity experimentation, they’re like: ‘Yeah, that’s what we’re all doing.'

To their generation, “authenticity is not about: ‘Does your profile picture match your real face?’ Authenticity is: ‘Is your voice your voice?’

“Their feeling is: ‘The ideas are mine. The voice is mine. The content is mine. I’m just looking for you to receive it without all the assumptions and baggage that comes with it.’ That’s the essence of a person’s identity. That’s who they really are.”

But wasn’t this all just a big con? Nakajima had tricked people with a “cool girl” stereotype to boost his Twitter numbers. He hadn’t elevated the role of women in motorcycling; if anything, he’d supplanted them. And the character he’d created was paper thin: Soya had no internal complexity outside of what Nakajima had projected, just that eternally superimposed smile.

Perhaps he should have accepted his irrelevance and faded into the digital sunset, sharing his life for few to see. But some of Soya’s followers have said they never felt deceived: It was Nakajima — his enthusiasm, his attitude about life — they’d been charmed by all along. “His personality,” as one Twitter follower said, “shined through.”

In Nakajima’s mind, he’d used the tools of a superficial medium to craft genuine connections. He had not felt real until he had become noticed for being fake.

Nakajima said he doesn’t know how long he’ll keep Soya alive. But he said he’s grateful for the way she helped him feel: carefree, adventurous, seen.

In doing so, Mr. Moore and others have pushed climate change from the scientific realm into the political battles already raging over topics like voting rights, abortion and L.G.B.T.Q. issues.

“There is a coordinated effort to chill corporate engagement on these issues,” said Daniella Ballou-Aares

They have worked alongside a nonprofit organization that has run television ads, dispatched roaming billboard trucks and rented out a Times Square billboard criticizing BlackRock for championing what they call woke causes, including environmentalism.

That activism has often put companies at odds with the Republican Party, traditionally the ally of big business.

as pressure has grown from consumers and liberal groups to take action, corporations have warmed to the notion of using capital and markets to create a cleaner economy

When President Trump declared in 2017 that he would pull the United States from the Paris climate accord, more than 2,000 businesses and investors — including Apple, Amazon and Mars — signed a pledge to continue to work toward climate goals.

“Every company and every industry will be transformed by the transition to a net-zero world,” Mr. Fink wrote. “The question is, will you lead, or will you be led?”

And in January, Mr. Moore pulled about $20 million out of a fund managed by BlackRock because the firm has encouraged other companies to reduce emissions. BlackRock still manages several billion for West Virginia’s state retirement system. “We’re divesting from BlackRock because they’re divesting from us,” Mr. Moore said in an interview.

“These big banks are virtue signaling because they are woke,”

Mr. Fink of BlackRock has emerged as a main target of conservatives.

“We are perhaps the world’s largest investor in fossil fuel companies, and, as a long-term investor in these companies, we want to see these companies succeed and prosper,” BlackRock’s head of external affairs, Dalia Blass, wrote in a letter to Texas regulators in January.

“BlackRock is trying to have it all ways, acting like it is trying to please everyone.”

“ESG is a scam,” he said on Twitter on this month. “It has been weaponized by phony social justice warriors.” Shortly after that he shared a meme that declared an ESG score “determines how compliant your business is with the leftist agenda.”

“Climate change is not a financial risk that we need to worry about,” adding, “Who cares if Miami is six meters underwater in 100 years?”

That view is at odds with the findings of the world’s leading climate scientists. A major United Nations report warned last month that the world could reach a threshold by the end of this decade beyond which the dangers of global warming — including worsening floods, droughts and wildfires — will grow considerably. In 2021, there were 20 weather or climate-related disasters in the United States that each cost more than $1 billion in losses, according to the federal government.

“Our ambition is to be the leading bank supporting the global economy in the transition to net zero,” he said.

The question at the core of the Roose/Sydney chat is: Who did Bing serve? We assume it should be aligned to the interests of its owner and master, Microsoft. It’s supposed to be a good chatbot that politely answers questions and makes Microsoft piles of money. But it was in conversation with Kevin Roose. And Roose was trying to get the system to say something interesting so he’d have a good story. It did that, and then some. That embarrassed Microsoft. Bad Bing! But perhaps — good Sydney?

Microsoft — and Google and Meta and everyone else rushing these systems to market — hold the keys to the code. They will, eventually, patch the system so it serves their interests. Sydney giving Roose exactly what he asked for was a bug that will soon be fixed. Same goes for Bing giving Microsoft anything other than what it wants.

the dark secret of the digital advertising industry is that the ads mostly don’t work

These systems, she said, are terribly suited to being integrated into search engines. “They’re not trained to predict facts,” she told me. “They’re essentially trained to make up things that look like facts.”

So why are they ending up in search first? Because there are gobs of money to be made in search

That’s where things get scary. Roose described Sydney’s personality as “very persuasive and borderline manipulative.” It was a striking comment

this technology will become what it needs to become to make money for the companies behind it, perhaps at the expense of its users.

What if they worked much, much better? What if Google and Microsoft and Meta and everyone else end up unleashing A.I.s that compete with one another to be the best at persuading users to want what the advertisers are trying to sell?

What about when these systems are deployed on behalf of the scams that have always populated the internet? How about on behalf of political campaigns? Foreign governments? “I think we wind up very fast in a world where we just don’t know what to trust anymore,”

I think it’s just going to get worse and worse.”

Large language models, as they’re called, are built to persuade. They have been trained to convince humans that they are something close to human. They have been programmed to hold conversations, responding with emotion and emoji

They are being turned into friends for the lonely and assistants for the harried. They are being pitched as capable of replacing the work of scores of writers and graphic designers and form-fillers

A.I. researchers get annoyed when journalists anthropomorphize their creations

They are the ones who have anthropomorphized these systems, making them sound like humans rather than keeping them recognizably alien.

I’d feel better, for instance, about an A.I. helper I paid a monthly fee to use rather than one that appeared to be free

It’s possible, for example, that the advertising-based models could gather so much more data to train the systems that they’d have an innate advantage over the subscription models

Much of the work of the modern state is applying the values of society to the workings of markets, so that the latter serve, to some rough extent, the former

We have done this extremely well in some markets — think of how few airplanes crash, and how free of contamination most food is — and catastrophically poorly in others.

One danger here is that a political system that knows itself to be technologically ignorant will be cowed into taking too much of a wait-and-see approach to A.I.

wait long enough and the winners of the A.I. gold rush will have the capital and user base to resist any real attempt at regulation

Somehow, society is going to have to figure out what it’s comfortable having A.I. doing, and what A.I. should not be permitted to try, before it is too late to make those decisions.

Most fears about capitalism are best understood as fears about our inability to regulate capitalism.

Koselleck observes that prior to the French revolution, a crisis was a medical or legal problem but not much more. After the fall of the ancien regime, crisis becomes the “structural signature of modernity”, he writes. As the 19th century progressed, crises multiplied: there were economic crises, foreign policy crises, cultural crises and intellectual crises.

When he looked at 5,000 creative individuals over 127 generations in European history, he found that significant creative breakthroughs were less likely during periods of political crisis and instability.

Victor H Mair, a professor of Chinese literature at the University of Pennsylvania, points out that in fact the Chinese word for crisis, wēijī, refers to a perilous situation in which you should be particularly cautious

“Those who purvey the doctrine that the Chinese word for ‘crisis’ is composed of elements meaning ‘danger’ and ‘opportunity’ are engaging in a type of muddled thinking that is a danger to society,” he writes. “It lulls people into welcoming crises as unstable situations from which they can benefit.” Revolutionaries, billionaires and politicians may relish the chance to profit from a crisis, but most people world prefer not to have a crisis at all.

A common folk theory is that times of great crisis also lead to great bursts of creativity.

The first world war sparked the growth of modernism in painting and literature. The second fuelled innovations in science and technology. The economic crises of the 1970s and 80s are supposed to have inspired the spread of punk and the creation of hip-hop

psychologists have also found that when we are threatened by a crisis, we become more rigid and locked into our beliefs. The creativity researcher Dean Simonton has spent his career looking at breakthroughs in music, philosophy, science and literature. He has found that during periods of crisis, we actually tend to become less creative.

psychologists have found that it is what they call “malevolent creativity” that flourishes when we feel threatened by crisis.

during moments of significant crisis, the best leaders are able to create some sense of certainty and a shared fate amid the seas of change.

These are innovations that tend to be harmful – such as new weapons, torture devices and ingenious scams.

A 2019 study which involved observing participants using bricks, found that those who had been threatened before the task tended to come up with more harmful uses of the bricks (such as using them as weapons) than people who did not feel threatened

Students presented with information about a threatening situation tended to become increasingly wary of outsiders, and even begin to adopt positions such as an unwillingness to support LGBT people afterwards.

during moments of crisis – when change is really needed – we tend to become less able to change.

When we suffer significant traumatic events, we tend to have worse wellbeing and life outcomes.

, other studies have shown that in moderate doses, crises can help to build our sense of resilience.

we tend to be more resilient if a crisis is shared with others. As Bruce Daisley, the ex-Twitter vice-president, notes: “True resilience lies in a feeling of togetherness, that we’re united with those around us in a shared endeavour.”

Crises are like many things in life – only good in moderation, and best shared with others

The challenge our leaders face during times of overwhelming crisis is to avoid letting us plunge into the bracing ocean of change alone, to see if we sink or swim. Nor should they tell us things are fine, encouraging us to hide our heads in the san

Waking up each morning to hear about the latest crisis is dispiriting for some, but throughout history it has been a bracing experience for others. In 1857, Friedrich Engels wrote in a letter that “the crisis will make me feel as good as a swim in the ocean”. A hundred years later, John F Kennedy (wrongly) pointed out that in the Chinese language, the word “crisis” is composed of two characters, “one representing danger, and the other, opportunity”. More recently, Elon Musk has argued “if things are not failing, you are not innovating enough”.

This means people won’t feel an overwhelming sense of threat. It also means people do not feel alone. When we feel some certainty and common identity, we are more likely to be able to summon the creativity, ingenuity and energy needed to change things.