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Javier E

Google Devising Radical Search Changes to Beat Back AI Rivals - The New York Times - 0 views

  • Google’s employees were shocked when they learned in March that the South Korean consumer electronics giant Samsung was considering replacing Google with Microsoft’s Bing as the default search engine on its devices.
  • Google’s reaction to the Samsung threat was “panic,” according to internal messages reviewed by The New York Times. An estimated $3 billion in annual revenue was at stake with the Samsung contract. An additional $20 billion is tied to a similar Apple contract that will be up for renewal this year.
  • A.I. competitors like the new Bing are quickly becoming the most serious threat to Google’s search business in 25 years, and in response, Google is racing to build an all-new search engine powered by the technology. It is also upgrading the existing one with A.I. features, according to internal documents reviewed by The Times.
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  • Google has been worried about A.I.-powered competitors since OpenAI, a San Francisco start-up that is working with Microsoft, demonstrated a chatbot called ChatGPT in November. About two weeks later, Google created a task force in its search division to start building A.I. products,
  • Modernizing its search engine has become an obsession at Google, and the planned changes could put new A.I. technology in phones and homes all over the world.
  • Magi would keep ads in the mix of search results. Search queries that could lead to a financial transaction, such as buying shoes or booking a flight, for example, would still feature ads on their results pages.
  • Google has been doing A.I. research for years. Its DeepMind lab in London is considered one of the best A.I. research centers in the world, and the company has been a pioneer with A.I. projects, such as self-driving cars and the so-called large language models that are used in the development of chatbots. In recent years, Google has used large language models to improve the quality of its search results, but held off on fully adopting A.I. because it has been prone to generating false and biased statements.
  • Now the priority is winning control of the industry’s next big thing. Last month, Google released its own chatbot, Bard, but the technology received mixed reviews.
  • The system would learn what users want to know based on what they’re searching when they begin using it. And it would offer lists of preselected options for objects to buy, information to research and other information. It would also be more conversational — a bit like chatting with a helpful person.
  • The Samsung threat represented the first potential crack in Google’s seemingly impregnable search business, which was worth $162 billion last year.
  • Last week, Google invited some employees to test Magi’s features, and it has encouraged them to ask the search engine follow-up questions to judge its ability to hold a conversation. Google is expected to release the tools to the public next month and add more features in the fall, according to the planning document.
  • The company plans to initially release the features to a maximum of one million people. That number should progressively increase to 30 million by the end of the year. The features will be available exclusively in the United States.
  • Google has also explored efforts to let people use Google Earth’s mapping technology with help from A.I. and search for music through a conversation with a chatbot
  • A tool called GIFI would use A.I. to generate images in Google Image results.
  • Tivoli Tutor, would teach users a new language through open-ended A.I. text conversations.
  • Yet another product, Searchalong, would let users ask a chatbot questions while surfing the web through Google’s Chrome browser. People might ask the chatbot for activities near an Airbnb rental, for example, and the A.I. would scan the page and the rest of the internet for a response.
  • “If we are the leading search engine and this is a new attribute, a new feature, a new characteristic of search engines, we want to make sure that we’re in this race as well,”
Javier E

Millennials Are Doing Just Fine - The Atlantic - 0 views

  • Millennials, as a group, are not broke—they are, in fact, thriving economically. That wasn’t true a decade ago, and prosperity within the generation today is not evenly shared. But since the mid-2010s, Millennials on the whole have made a breathtaking financial comeback.
  • he belief that Millennials have been excluded from the implicit promises that America makes to its people—a house for most, middle-class security, a better life than your parents had—remains predominant in society and, to go by surveys and the tenor of social media, among Millennials themselves.
  • That prompts a question with implications for the cultural and political future of the United States, a country premised, to a large extent, on the idea of material progress: What if the American dream is still alive, but no one believes it to be?
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  • the mid-2010s saw the beginnings of a turnaround that has continued ever since. By 2019, households headed by Millennials were making considerably more money than those headed by the Silent Generation, Baby Boomers, and Generation X at the same age, after adjusting for inflation.
  • That year, according to the Current Population Survey, administered by the U.S. Census Bureau, income for the median Millennial household was about $9,000 higher than that of the median Gen X household at the same age, and about $10,000 more than the median Boomer household, in 2019 dollars.
  • Booms and recessions push incomes up and down, but although many media stories have tended to associate Millennials almost exclusively with the latter, they’ve now experienced both, and in a big way: Increases in income since 2014 have been steep.
  • ed since Millennials became adults. The Affordable Care Act extended health-care coverage, and federal-government support during the pandemic actually caused poverty to fall in 2020 and 2021
  • since 2014. By my analysis, Black and Latino Americans ages 25 to 44 in 2021 were making more money than Black and Latino Silents, Boomers, and Gen Xers at the same age. The U.S. is not without economic inequities, many of them racial. But Black and Latino Millennials are not falling behind previous generations when it comes to their income. Instead, most are getting ahead
  • Millennial men, on average, have not seen the income increases that Millennial women have (more on that later)—a divergence at least partly explained by the growing gap in educational attainment between men and women
  • the median income of Americans with a four-year college degree has steadily risen while the income of those with only a high-school degree has fallen. This trend is not new, though it is troubling.
  • The Great Recession was no doubt a more harrowing experience for young adults than the recession Gen X faced, but the income stagnation that followed it nonetheless lasted only a few years. Over the past half century, the longest period of falling or stagnant wages was from the ’70s to the mid-’90s, when Boomers were young workers.
  • poverty is not any more common among Millennials today than it was among previous generations.
Javier E

In 'Equality,' Darrin McMahon shows the path has always been fraught - The Washington Post - 0 views

  • When civilizations promote parity along one axis, they tend to lapse back toward hierarchy along another. Legal equality may be offset by widening economic rifts, as in Western democracies today; the expansion of the franchise to a larger segment of the male population may be accompanied by the fervent demonization of women or non-natives, as in ancient Athens; movements for justice may prompt reactionary backlash, as in France after the 1789 revolution.
  • At a time when equality is widely lauded as an uncomplicated good, McMahon’s sweeping if occasionally schematic study provides a thought-provoking reminder of its pitfalls
  • All too often, equality within a group is premised on the exclusion of those outside it.
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  • lthough the concept of equality may seem intuitive, it is surprisingly difficult to pin down with any precision.
  • “When people speak of equality,” McMahon stresses, “they invariably speak of the equality of something.” The central question is the one so famously and pithily posed by the economist Amartya Sen in his landmark 1979 lecture of the same name: “Equality of what?”
  • McMahon surmises that our foraging forebears were probably staunch egalitarians, at least when it came to the division of labor within their communities.
  • even in the idyllic days of prehistory, there was a catch. Early humans probably adhered to what the anthropologist Christopher Boehm called an “egalitarian hierarchy,” in which, in McMahon’s words, “the many combine to dominate the few,” exiling those who challenged the pecking order (or so those cave paintings seem to suggest)
  • And even though hunter-gatherers probably treated suitably compliant members of their own clans equitably, in-group/out-group rivalries “undoubtedly played a role in the cohesion” that each group achieved internally
  • our ancestors maintained order within by sewing discord without, vying violently with competing clans and expelling (or even killing) upstarts who threatened to distinguish themselves too dramatically from the pack.
  • The very concept of equality, which requires both difference and sameness, generates comparable tensions in almost every society in which some version of it is promoted.
  • , the temptation to maintain harmony within a group by degrading those outside it has been irresistible for centuries — and remains so to this day.
  • But if the monotheistic religions “proclaimed fellowship among the children of God,” McMahon wryly clarifies, they were also “quick to banish from the family those who rejected the faith.
  • John Calvin himself minced no words on this point. “All are not created … equal,” he wrote.
  • Everyone was equal in post-revolution France — except for those who were not.
  • Many of the most prominent thinkers of the period considered women and people of color too irrational to merit legal recognition
  • in the 1700s, French revolutionaries inspired by the Enlightenment maintained that equality was a right bestowed on every man by virtue of his intrinsically rational nature
  • “We want to be treated with fairness and on equal terms, accorded recognition and respect,” McMahon writes. “But at the same time we seek distinction, aiming to set ourselves apart.
  • If equality so ineluctably contains the seeds of its own undoing, the moral arc of the universe cannot be trusted to bend toward justice. On the contrary, McMahon argues, equality is not an inevitability but a hard-earned improbability.
  • it is not equality but its opposite that is always encroaching, dogging every attempt at progress, stalking its rival like a shadow, patiently waiting to strike.
  • In his ambitious new book, “Equality: The History of an Elusive Idea,” Dartmouth history professor Darrin M. McMahon proposes that the “elusive idea” in question is expansive enough to vindicate both accounts. His wide-ranging survey of equality throughout the ages demonstrates that progress toward achieving it is almost never linear.
Javier E

Opinion | The Greatest Threat Posed by Trump - The New York Times - 0 views

  • the problem I’m most concerned about isn’t the political melee; it’s the ongoing cultural transformation of red America, a transformation that a second Trump term could well render unstoppable.
  • t the most enduring legacy of a second Trump term could well be the conviction on the part of millions of Americans that Trumpism isn’t just a temporary political expediency, but the model for Republican political success and — still worse — the way that God wants Christian believers to practice politics.
  • Already we can see the changes in individual character. In December, I wrote about the moral devolution of Rudy Giuliani and of the other MAGA men and women who have populated the highest echelons of the Trump movement
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  • what worries me even more is the change I see in ordinary Americans. I live in the heart of MAGA country, and Donald Trump is the single most culturally influential person here. It’s not close. He’s far more influential than any pastor, politician, coach or celebrity. He has changed people politically and also personally. It is common for those outside the Trump movement to describe their aunts or uncles or parents or grandparents as “lost.” They mean their relatives’ lives are utterly dominated by Trump, Trump’s media and Trump’s grievances.
  • never before have I seen extremism penetrate a vast American community so deeply, so completely and so comprehensively.
  • That percentage is far higher than the (still troubling) 22 percent of independents and 13 percent of Democrats who shared the same view.
  • In 2011, they were the American cohort least likely to agree that a politician could commit immoral acts in private yet “still behave ethically and fulfill their duties in their public and professional life.”
  • They went from least likely to most likely to excuse the immoral behavior of politicians.
  • An increasing percentage are now tempted to embrace political violence. Last October, a startling 33 percent of Republicans (and an even larger 41 percent of pro-Trump Americans) agreed with the statement that “because things have gotten so far off track, true American patriots may have to resort to violence in order to save our country.”
  • Polling data again and again backs up the reality that the right is abandoning decency, and doing so in the most alarming of ways. It began happening almost immediately with white evangelicals
  • As the Iowa caucuses approached, Trump escalated his language, going so far as to call his political opponents “vermin” and declaring that immigrants entering America illegally are “poisoning the blood of our country.” The statement was so indefensible and repugnant that many expected it to hurt Trump. Yet a Des Moines Register/NBC News/Mediacom Iowa Poll found that a 42 percent plurality of likely Iowa Republican caucusgoers said the statement would make them more likely to support Trump — a substantially greater percentage than the 28 percent who said it would make them less likely to support him.
  • While political violence is hardly exclusive to the right, the hostility and vitriol embedded in MAGA America is resulting in an escalating wave of threats and acts of intimidation.
  • The result is a religious movement steeped in fanaticism but stripped of virtue. The fruit of the spirit described in Galatians in the New Testament — “love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control” — is absent from MAGA Christianity, replaced by the very “works of the flesh” the same passage warned against, including “hatreds, strife, jealousy, outbursts of anger, selfish ambitions, dissensions” and “factions.”
  • in the upside-down world of MAGA morality, vice is virtue and virtue is vice. My colleague Jane Coaston even coined a term, “vice signaling,” to describe how Trump’s core supporters convey their tribal allegiance. They’re often deliberately rude, transgressive or otherwise unpleasant, just to demonstrate how little they care about conventional moral norms.
  • For most of my life, conservative evangelicals (including me) have been fond of quoting John Adams’s 1798 letter to the Massachusetts Militia. It’s a critical founding document, one that forcefully argues that our Republic needs a virtuous citizenry to survive. “Our Constitution was made only for a moral and religious People,” he asserts. “It is wholly inadequate to the government of any other.”
  • I’ve appreciated that quote because it recognizes the obligations of a free people in a constitutional republic to exercise their liberty toward virtuous purposes.
  • Absent public virtue, a republic can fall. And a Trump win in 2024 would absolutely convince countless Americans that virtue is for suckers, and vice is the key to victory.
  • if he wins again, the equation will change and history may record that he was not the culmination of a short-lived reactionary moment, but rather the harbinger of a greater darkness to come.
Javier E

Opinion | The Alexandria Ocasio-Cortez You Don't Know - The New York Times - 0 views

  • First impressions are hard to erase, and the obstinacy that made Ms. Ocasio-Cortez an instant national celebrity remains at the heart of her detractors’ most enduring critique: that she is a performer, out for herself, with a reach that exceeds her grasp.
  • In straddling the line between outsider and insider, Ms. Ocasio-Cortez is trying to achieve the one thing that might just shore up her fractured party: building a new Democratic coalition that can consistently draw a majority of American support.
  • In some ways, she’s asking the obvious questions: What’s broadly popular among a vast majority of Americans, and how can I make it happen? To achieve progress on these issues, she has sought common ground in places where her peers are not thinking to look. Her willingness to forge unlikely alliances, in surprisingly productive places, has opened a path to new voters — for her party, her ideas and her own political ambitions if she ever decides to run for higher office.
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  • Since 2016, there have been two competing visions for the Democratic Party. One is the promise that began with Barack Obama of a multiracial coalition that would grow stronger as America’s demographics shifted; the other is the political revolution championed by Bernie Sanders as a way to unite nonvoters with the working class
  • Ms. Ocasio-Cortez bridges the gap between the two
  • what’s clear is that at a time when Democrats are struggling, she is quietly laying the groundwork to build a coalition broader than the one she came to power with, unafraid to take risks along the way.
  • After five years in Congress, she has emerged as a tested navigator of its byzantine systems, wielding her celebrity to further her political aims in a way few others have.
  • Three terms in, one gets the sense that we’re witnessing a skilled tactician exiting her political adolescence and coming into her own as a veteran operator out to reform America’s most dysfunctional political body.
  • To grasp what sets Ms. Ocasio-Cortez apart from many of her colleagues, you have to understand where she finds allies
  • In 2019, she and Senator Ted Cruz of Texas considered joining forces to write a bill that would bar former members of Congress from becoming lobbyists. Asked why she would consider an alliance with someone so loathed by liberals, she said, “I will swallow all of my distaste in this situation because we have found a common interest.”
  • It was a window into the politician she would become: pragmatic and results-driven, willing to work with people she considers her political adversaries, at least on legislation that appeals to her base
  • She has attributed the success of these efforts at least in part to her role as the second most powerful Democrat on the House Oversight Committee, which she said has “opened many windows” for collaboration.
  • while these bills may seem like small victories, they are more than that because, in a sense, she is redefining what bipartisanship looks like in Washington.
  • For decades, bipartisanship has meant bringing together moderates, lobbyists and establishment insiders to produce watered-down legislation unpalatable to many voters in both political partie
  • What Ms. Ocasio-Cortez is doing is different; she’s uniting politicians on the fringes of American politics around a broadly popular set of policies.
  • Americans in both parties overwhelmingly say that they don’t trust the government to do the right thing and that donors and lobbyists have too much sway over the legislative process.
  • more than 8 in 10 Americans believe politicians “are more focused on fighting each other than on solving problems.” One-fifth of respondents said lack of bipartisan cooperation was the biggest problem with the political system.
  • Ms. Ocasio-Cortez’s efforts to reach out to Republicans are offering what a sizable portion of Americans want from Congress: a return to getting things done.
  • The few policy matters on which progressives and conservatives align often boil down to a distrust of politicians and of big corporations, particularly technology companies and pharmaceutical giants.
  • Ms. Ocasio-Cortez has shrewdly made those causes her passion, building alliances with conservative colleagues interested in holding these industries accountable.
  • Last spring, she cosponsored a bill with, among others, Brian Fitzpatrick, a moderate Republican from Pennsylvania, and Matt Gaetz, the Florida rabble-rouser who has become one of Mr. Trump’s most steadfast allies. The legislation would bar members of Congress from trading individual stocks, a measure that as of the fall of 2022 was supported by nearly 70 percent of voters across party lines.
  • On Gaza, too, she has been willing to buck other members of her party to pursue an agenda that a majority of voters support. She was one of the first Democrats to call for a cease-fire; within weeks, nearly 70 percent of Americans said Israel should call one and try to negotiate with Hamas.
  • In March, Ms. Ocasio-Cortez was accosted by a handful of protesters who demanded that she call Israel’s war in Gaza a genocide.
  • Less than three weeks later, Ms. Ocasio-Cortez did accuse Israel of genocide and chastised the White House for providing military aid to the country while it blockaded Gaza. “If you want to know what an unfolding genocide looks like,” Ms. Ocasio-Cortez said in a speech on the House floor, “open your eyes. It looks like the forced famine of 1.1 million innocents. It looks like thousands of children eating grass as their bodies consume themselves, while trucks of food are slowed and halted just miles away.”
  • Last month, she voted against providing additional funding for Israel. Those were unpopular positions in Congress, where unconditional support for the country remains the norm, but they put her in line with a majority of Democratic voters.
  • These stances haven’t been enough to quell the doubts from a faction of the left that helped get her elected. Over the past few weeks, some have accused her of caving in to pressure from moderate Democrats
  • . Ms. Ocasio-Cortez has taken much of the heat from leftist activists who see her as a symbol of the contradictions and compromises inherent in the political system. It may not be realistic to expect absolute purity from her; she is, after all, a politician. But these critiques overlook the promise of what she’s doing behind the scenes.
  • Democratic pollsters and strategists are searching for ways for Mr. Biden to win back Muslims and Arab Americans in swing states such as Michigan and Georgia, recent college graduates who hoped to have their student debt forgiven, immigrant-rights activists and Latinos.
  • Some of the betrayal these voters feel was hardly the president’s fault; he was hampered on student loan debt by a federal judiciary stacked with judges sympathetic to conservative legal arguments, and Congress refused to pass the comprehensive immigration bill he supported in 2021, which would have provided legal status to as many as 11 million undocumented immigrants.
  • A more gifted orator might have been able to make the structural impediments in his way clear to voters, while also putting forth a proactive vision for dismantling the core problems baked into our politics.
  • In that, someone like Ms. Ocasio-Cortez, who endorsed Mr. Biden for re-election in 2023, may be able to help. She’s the Democratic Party’s most charismatic politician since Barack Obama and its most ardent populist since Bernie Sanders.
  • she can offer voters something more substantial than a hollow rebuke of Trumpism
  • Last month, when the journalist Mehdi Hasan asked her how she’d respond to “a young progressive or Arab American who says to you, ‘I just can’t vote for Biden again after what he’s enabled in Gaza,’” Ms. Ocasio-Cortez said a vote for Mr. Biden didn’t necessarily mean an endorsement of all his policies. “Even in places of stark disagreement, I would rather be organizing under the conditions of Biden as an opponent on an issue than Trump,” she said. It was a shrewd political maneuver, designed to distance herself from Democrats who support Israel unconditionally, while meeting voters — some of whom have lost family members in Gaza — where they are
  • There are, of course, limits to this strategy. Some on the left see Ms. Ocasio-Cortez’s endorsement of Mr. Biden as a betrayal of progressive values, particularly in the wake of the climbing death toll in Gaza.
  • The moderate Republicans who turned out for Mr. Biden in 2020 might shrink from a Democratic Party led by someone they consider an outspoken progressive.
  • But for every moderate or leftist voter lost with a strategy like Ms. Ocasio-Cortez’s, the Democratic Party may be able to win someone new — from the pool of disillusioned Americans who feel shut out of the political process.
Javier E

How Boeing Favored Speed Over Quality for the 737 Max - The New York Times - 0 views

  • After the Max 8 crashes, Boeing and its regulators focused most on the cause of those accidents: flawed design and software. Yet some current and former employees say problems with manufacturing quality were also apparent to them at the time and should have been to executives and regulators as well.
  • Davin Fischer, a former mechanic in Renton, who also spoke to the Seattle TV station KIRO 7, said he noticed a cultural shift starting around 2017, when the company introduced the Max.
  • “They were trying to get the plane rate up and then just kept crunching, crunching and crunching to go faster, faster, faster,” he said.
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  • When the pandemic took hold in early 2020, air travel plummeted, and many aviation executives believed it would take years for passengers to return in large numbers. Boeing began to cut jobs and encouraged workers to take buyouts or retire early. It ultimately lost about 19,000 employees companywide — including some with decades of experience.
  • Current and former Boeing employees, most of whom spoke on the condition of anonymity because they were not authorized to speak to reporters and feared retaliation, offered examples of how quality has suffered over the years. Many said they still respected the company and its employees and wanted Boeing to succeed.
  • “For years, we prioritized the movement of the airplane through the factory over getting it done right, and that’s got to change,” Brian West, the company’s chief financial officer, said at an investor conference last week.
  • In late 2022, Boeing lost veteran engineers who retired to lock in bigger monthly pension payments, which were tied to interest rates, according to the union that represents them,
  • “We warned Boeing that it was going to lose a mountain of expertise, and we proposed some workarounds, but the company blew us off,” Ray Goforth, executive director of the union, said in a statement, adding that he thought the company used the retirements as an opportunity to cut costs by replacing veteran workers with “lower-paid entry-level engineers and technical workers.”
  • the International Association of Machinists and Aerospace Workers union, which represents more than 30,000 Boeing employees, said the average tenure of its members had dropped sharply in recent years. The proportion of its members who have less than six years of experience has roughly doubled to 50 percent from 25 percent before the pandemic.
Javier E

He Turned 55. Then He Started the World's Most Important Company. - WSJ - 0 views

  • You probably use a device with a chip made by TSMC every day, but TSMC does not actually design or market those chips. That would have sounded completely absurd before the existence of TSMC. Back then, companies designed chips that they manufactured themselves. Chang’s radical idea for a great semiconductor company was one that would exclusively manufacture chips that its customers designed. By not designing or selling its own chips, TSMC never competed with its own clients. In exchange, they wouldn’t have to bother running their own fabrication plants, or fabs, the expensive and dizzyingly sophisticated facilities where circuits are carved on silicon wafers.
  • The innovative business model behind his chip foundry would transform the industry and make TSMC indispensable to the global economy. Now it’s the company that Americans rely on the most but know the least about
  • I wanted to know more about his decision to start a new company when he could have stopped working altogether. What I discovered was that his age was one of his assets. Only someone with his experience and expertise could have possibly executed his plan for TSMC. 
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  • “I could not have done it sooner,” he says. “I don’t think anybody could have done it sooner. Because I was the first one.” 
  • By the late 1960s, he was managing TI’s integrated-circuit division. Before long, he was running the entire semiconductor group. 
  • He transferred to the Massachusetts Institute of Technology, where he studied mechanical engineering, earned his master’s degree and would have stayed for his Ph.D. if he hadn’t failed the qualifying exam. Instead, he got his first job in semiconductors and moved to Texas Instruments in 1958
  • he came along as the integrated circuit was being invented, and his timing couldn’t have been any better, as Chang belonged to the first generation of semiconductor geeks. He developed a reputation as a tenacious manager who could wring every possible improvement out of production lines, which put his career on the fast track.
  • Chang grew up dreaming of being a writer—a novelist, maybe a journalist—and he planned to major in English literature at Harvard University. But after his freshman year, he decided that what he actually wanted was a good job
  • “They talk about life-work balance,” he says. “That’s a term I didn’t even know when I was their age. Work-life balance. When I was their age, if there was no work, there was no life.” 
  • These days, TSMC is investing $40 billion to build plants in Arizona, but the project has been stymied by delays, setbacks and labor shortages, and Chang told me that some of TSMC’s young employees in the U.S. have attitudes toward work that he struggles to understand. 
  • Chang says he wouldn’t have taken the risk of moving to Taiwan if he weren’t financially secure. In fact, he didn’t take that same risk the first time he could have.
  • “The closer the industry match,” they wrote, “the greater the success rate.” 
  • By then, Chang knew that he wasn’t long for Texas Instruments. But his stock options hadn’t vested, so he turned down the invitation to Taiwan. “I was not financially secure yet,” he says. “I was never after great wealth. I was only after financial security.” For this corporate executive in the middle of the 1980s, financial security equated to $200,000 a year. “After tax, of course,” he says. 
  • Chang’s situation had changed by the time Li called again three years later. He’d exercised a few million dollars of stock options and bought tax-exempt municipal bonds that paid enough for him to be financially secure by his living standards. Once he’d achieved that goal, he was ready to pursue another one. 
  • “There was no certainty at all that Taiwan would give me the chance to build a great semiconductor company, but the possibility existed, and it was the only possibility for me,” Chang says. “That’s why I went to Taiwan.” 
  • Not long ago, a team of economists investigated whether older entrepreneurs are more successful than younger ones. By scrutinizing Census Bureau records and freshly available Internal Revenue Service data, they were able to identify 2.7 million founders in the U.S. who started companies between 2007 and 2014. Then they looked at their ages.
  • The average age of those entrepreneurs at the founding of their companies was 41.9. For the fastest-growing companies, that number was 45. The economists also determined that 50-year-old founders were almost twice as likely to achieve major success as 30-year-old founders, while the founders with the lowest chance of success were the ones in their early 20s
  • “Successful entrepreneurs are middle-aged, not young,” they wrote in their 2020 paper.  
  • Silicon Valley’s venture capitalists throw money at talented young entrepreneurs in the hopes they will start the next trillion-dollar company. They have plentiful energy, insatiable ambition and the vision to peek around corners and see the future. What they don’t typically have are mortgages, family obligations and other adult responsibilities to distract them or diminish their appetite for risk. Chang himself says that younger people are more innovative when it comes to science and technical subjects. 
  • But in business, older is better. Entrepreneurs in their 40s and 50s may not have the exuberance to believe they will change the world, but they have the experience to know how they actually can. Some need years of specialized training before they can start a company. In biotechnology, for example, founders are more likely to be college professors than college dropouts. Others require the lessons and connections they accumulate over the course of their careers. 
  • one more finding from their study of U.S. companies that helps explain the success of a chip maker in Taiwan. It was that prior employment in the area of their startups—both the general sector and specific industry—predicted “a vastly higher probability” of success.
  • Chang was such a workaholic that he made sales calls on his honeymoon and had no patience for those who didn’t share his drive
  • Morris Chang had 30 years of experience in his industry when he decided to uproot his life and move to another continent. He knew more about semiconductors than just about anyone on earth—and certainly more than anyone in Taiwan. As soon as he started his job at the Industrial Technology Research Institute, Chang was summoned to K.T. Li’s office and given a second job. “He felt I should start a semiconductor company in Taiwan,”
  • “I decided right away that this could not be the kind of great company that I wanted to build at either Texas Instruments or General Instrument,”
  • TI handled every part of chip production, but what worked in Texas would not translate to Taiwan. The only way that he could build a great company in his new home was to make a new sort of company altogether, one with a business model that would exploit the country’s strengths and mitigate its many weaknesses.
  • Chang determined that Taiwan had precisely one strength in the chip supply chain. The research firm that he was now running had been experimenting with semiconductors for the previous 10 years. When he studied that decade of data, Chang was pleasantly surprised by Taiwan’s yields, the percentage of working chips on silicon wafers. They were almost twice as high in Taiwan as they were in the U.S., he said. 
  • “People were ingrained in thinking the secret sauce of a successful semiconductor company was in the wafer fab,” Campbell told me. “The transition to the fabless semiconductor model was actually pretty obvious when you thought about it. But it was so against the prevailing wisdom that many people didn’t think about it.” 
  • Taiwan’s government took a 48% stake, with the rest of the funding coming from the Dutch electronics giant Philips and Taiwan’s private sector, but Chang was the driving force behind the company. The insight to build TSMC around such an unconventional business model was born from his experience, contacts and expertise. He understood his industry deeply enough to disrupt it. 
  • “TSMC was a business-model innovation,” Chang says. “For innovations of that kind, I think people of a more advanced age are perhaps even more capable than people of a younger age.”
  • the personal philosophy that he’d developed over the course of his long career. “To be a partner to our customers,” he says. That founding principle from 1987 is the bedrock of the foundry business to this day, as TSMC says the key to its success has always been enabling the success of its customers.  
  • TSMC manufactures chips in iPhones, iPads and Mac computers for Apple, which manufactures a quarter of TSMC’s net revenue. Nvidia is often called a chip maker, which is curious, because it doesn’t make chips. TSMC does. 
  • Churning out identical copies of a single chip for an iPhone requires one TSMC fab to produce more than a quintillion transistors—that is, one million trillions—every few months. In a year, the entire semiconductor industry produces “more transistors than the combined quantity of all goods produced by all other companies, in all other industries, in all human history,” Miller writes. 
  • I asked how he thought about success when he moved to Taiwan. “The highest degree of success in 1985, according to me, was to build a great company. A lower degree of success was at least to do something that I liked to do and I wanted to do,” he says. “I happened to achieve the highest degree of success that I had in mind.” 
Javier E

Exclusive: Trump Media saved in 2022 by Russian-American under criminal investigation |... - 0 views

  • The concern surrounding the loans to Trump Media is that ES Family Trust may have been used to complete a transaction that Paxum itself could not.
  • Paxum Bank does not offer loans in the US as it lacks a US banking license and is not regulated by the FDIC. Postolnikov appears to have used the trust to loan money to help save Trump Media – and the Truth Social platform – because his bank itself could not furnish the loan.
  • Postolnikov, the nephew of Aleksandr Smirnov, an ally of the Russian president, Vladimir Putin, has not been charged with a crime. In response to an email to Postolnikov seeking comment, a lawyer in Dominica representing Paxum Bank warned of legal action for reporting the contents of the leaked documents.
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  • Postolnikov has been under increasing scrutiny in the criminal investigation into the Trump Media merger. Most recently, he has been listed on search warrant affidavits alongside several associates – one of whom was indicted last month for money laundering on top of earlier insider-trading charges.
  • Trump Media then received the loans from ES Family Trust: $2m on 23 December 2021, and $6m on 17 February 2022.
  • Part of the problem was that Trump Media struggled to get financing because traditional banks were reluctant to lend millions to Trump’s social media company in the wake of the January 6 Capitol attack, Wilkerson said.Trump Media eventually found some lenders, including ES Family Trust, but the sequence of events was curious.
  • S Family Trust was established on 18 May 2021, its creation papers show. Postolnikov’s “user” access to the account was “verified” on 30 November 2021 by a Paxum Bank manager in Dominica. The trust was funded for the first time on 2 December 2021
  • In late 2021, Trump Media was facing financial trouble after the original planned merger with Digital World was delayed indefinitely when the Securities and Exchange Commission opened an investigation into the merger, Trump Media’s since-ousted co-founder-turned-whistleblower Will Wilkerson recounted in an interview.
  • Oddly, the notes were never signed. But the investment in Trump Media proved to be huge: while precise figures can only be known by Trump Media, ES Family Trust’s stake in Trump Media is worth between $20m and $40m even after the sharp decline of the company’s share price in the wake of a poor earnings report
  • The loans came in the form of convertible promissory notes, meaning ES Family Trust would gain a major stake in Trump Media because it was offering the money in exchange for Trump Media agreeing to convert the loan principal into “shares of Company Stock”.
  • The ES Family Trust account also appears to have benefited Postolnikov personally. As the criminal investigation into the Trump Media deal intensified towards the end of last year, the trust recorded several transfers to Postolnikov with the subject line “Partial Loan Return”.In total, the documents showed that the trust transferred $4.8m to Postolnikov’s account, although $3m was inexplicably “reversed”.
  • The reason for the trust’s creation remains unknown. Aside from the money that went to Trump Media, the trust’s statements show the trust has directly invested money with only two other companies: $10.8m to Eleven Ventures LLC, a venture capital firm, and $1m to Wedbush Securities, a wealth management firm.
  • The creation papers also contained something notable: a declaration that, if the original trustee – a Paxum employee named Angel Pacheco – stepped down from the role, his successor would be a certain individual named Michael Shvartsman.
  • Last month, federal prosecutors charged Michael Shvartsman, a close associate of Postolnikov, with money laundering in a superseding indictment after previously charging him and two others in July with insider-trading Digital World shares. Shvartsman and his co-defendants pleaded not guilty.
  • nformant for the DHS, court filings show: in one March 2023 meeting with the informant and an associate, Shvartsman mentioned a friend who owned a bank in Dominica and made bridge loans to Trump Media.
  • “[Shvartsman’s associate] told the [confidential informant] that he does not think the SEC would be able to go after [Shvartsman] for his part in the investment but mentioned that [Shvartsman] essentially provided ‘bridge financing’ for the firm behind the Truth Social media platform,” it said.
  • The investigation into potential money laundering appears to have started after Wilkerson’s lawyers Phil Brewster, Stephen Bell and Patrick Mincey alerted the US attorney’s office in the southern district of New York to the ES Family Trust loans in October 2022.
  • Months later, in June 2023, the FBI expanded its investigation to work jointly with the Department of Homeland Security’s El Dorado taskforce, which specializes in money laundering, and its Illicit Proceeds and Foreign Corruption group, which targets corrupt foreign officials who use US entities to launder illicit funds.
Javier E

For the Love of Justice - by Damon Linker - 0 views

  • Thanks to social media, gaining widespread public attention for oneself and one’s favored causes has never been easier.
  • This has incentivized a lot of performative outrage that sometimes manifests itself in acts of protest, from environmental activists throwing soup on paintings in European museums to pro-Palestinian demonstrators halting traffic in major cities by sitting down en masse in the middle of roadways.
  • I don’t think they do much to advance the aims of the activists. In fact, I think they often backfire, generating ill-will among ordinary citizens inconvenienced by the protest. (As for the activists hoping to fight climate change by destroying works of art, I don’t even grasp what they think they’re doing with their lives.)
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  • there’s a deeper reason for my harsh judgment, which is that I’m fully committed to the liberal project of domesticating and taming the most intense political passions, ultimately channeling them into representative political institutions, where they are forced to reach accommodation and compromise with contrary views held by other members of the polity.
  • The love of justice can be noble, but it can also be incredibly destructive.
  • (This is hard to see if you conveniently associate such love exclusively with positions staked out by your ideological or partisan allies. In reality, the political ambitions of one’s opponents are often fueled by their own contrary convictions about justice and its demands.
  • My liberal commitments therefore make me maximally suspicious of most examples of “street politics,” especially forms of it in which the activists risk very little and primarily appear to be engaging in a spiritually fulfilling form of socializing with likeminded peers.
  • But Bushnell’s act of self-immolation belongs in a different category altogether—one distinct from just about every other form of protest,
  • Bushnell could have written an op-ed. He could have joined, organized, or led a march and delivered a speech. He could have built up a loud social-media presence and used it to accuse the United States of complicity in genocide and publicize the accusation. He could have leveraged his position in the Air Force to draw added attention to his dissent from Biden administration policy in the Middle East. He could even have embraced terrorism and sought to gain entry to the Israeli embassy with a weapon or explosive
  • But Bushnell didn’t do any of these things. Instead, a few hours before his act of protest, he posted the following message on Facebook:
  • Many of us like to ask ourselves, “What would I do if I was alive during slavery? Or the Jim Crow South? Or apartheid? What would I do if my country was committing genocide?”The answer is, you’re doing it. Right now.
  • I will no longer be complicit in genocide…. I am about to engage in an extreme act of protest. But compared to what people have been experiencing in Palestine at the hands of their colonizers, it’s not extreme at all. This is what our ruling class has decided will be normal.
  • And then, like a small number of other intensely committed individuals down through the decades, he doused himself in a flammable liquid and set himself ablaze, opting to sacrifice his own life in a public act of excruciating self-torture, without doing anything at all to harm anyone but himself, in order to draw attention to what he considered an ongoing, intolerable injustice.
Javier E

How We Can Control AI - WSJ - 0 views

  • What’s still difficult is to encode human values
  • That currently requires an extra step known as Reinforcement Learning from Human Feedback, in which programmers use their own responses to train the model to be helpful and accurate. Meanwhile, so-called “red teams” provoke the program in order to uncover any possible harmful outputs
  • This combination of human adjustments and guardrails is designed to ensure alignment of AI with human values and overall safety. So far, this seems to have worked reasonably well.
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  • At some point they will be able to, for example, suggest recipes for novel cyberattacks or biological attacks—all based on publicly available knowledge.
  • But as models become more sophisticated, this approach may prove insufficient. Some models are beginning to exhibit polymathic behavior: They appear to know more than just what is in their training data and can link concepts across fields, languages, and geographies.
  • We need to adopt new approaches to AI safety that track the complexity and innovation speed of the core models themselves.
  • What’s much harder to test for is what’s known as “capability overhang”—meaning not just the model’s current knowledge, but the derived knowledge it could potentially generate on its own.
  • Red teams have so far shown some promise in predicting models’ capabilities, but upcoming technologies could break our current approach to safety in AI. For one, “recursive self-improvement” is a feature that allows AI systems to collect data and get feedback on their own and incorporate it to update their own parameters, thus enabling the models to train themselves
  • This could result in, say, an AI that can build complex system applications (e.g., a simple search engine or a new game) from scratch. But, the full scope of the potential new capabilities that could be enabled by recursive self-improvement is not known.
  • Another example would be “multi-agent systems,” where multiple independent AI systems are able to coordinate with each other to build something new.
  • This so-called “combinatorial innovation,” where systems are merged to build something new, will be a threat simply because the number of combinations will quickly exceed the capacity of human oversight.
  • Short of pulling the plug on the computers doing this work, it will likely be very difficult to monitor such technologies once these breakthroughs occur
  • Current regulatory approaches are based on individual model size and training effort, and are based on passing increasingly rigorous tests, but these techniques will break down as the systems become orders of magnitude more powerful and potentially elusive
  • AI regulatory approaches will need to evolve to identify and govern the new emergent capabilities and the scaling of those capabilities.
  • But the AI Act has already fallen behind the frontier of innovation, as open-source AI models—which are largely exempt from the legislation—expand in scope and number
  • Europe has so far attempted the most ambitious regulatory regime with its AI Act,
  • both Biden’s order and Europe’s AI Act lack intrinsic mechanisms to rapidly adapt to an AI landscape that will continue to change quickly and often.
  • a gathering in Palo Alto organized by the Rand Corp. and the Carnegie Endowment for International Peace, where key technical leaders in AI converged on an idea: The best way to solve these problems is to create a new set of testing companies that will be incentivized to out-innovate each other—in short, a robust economy of testing
  • To check the most powerful AI systems, their testers will also themselves have to be powerful AI systems, precisely trained and refined to excel at the single task of identifying safety concerns and problem areas in the world’s most advanced models.
  • To be trustworthy and yet agile, these testing companies should be checked and certified by government regulators but developed and funded in the private market, with possible support by philanthropy organizations
  • The field is moving too quickly and the stakes are too high for exclusive reliance on typical government processes and timeframes.
  • One way this can unfold is for government regulators to require AI models exceeding a certain level of capability to be evaluated by government-certified private testing companies (from startups to university labs to nonprofit research organizations), with model builders paying for this testing and certification so as to meet safety requirements.
  • As AI models proliferate, growing demand for testing would create a big enough market. Testing companies could specialize in certifying submitted models across different safety regimes, such as the ability to self-proliferate, create new bio or cyber weapons, or manipulate or deceive their human creators
  • Much ink has been spilled over presumed threats of AI. Advanced AI systems could end up misaligned with human values and interests, able to cause chaos and catastrophe either deliberately or (often) despite efforts to make them safe. And as they advance, the threats we face today will only expand as new systems learn to self-improve, collaborate and potentially resist human oversight.
  • If we can bring about an ecosystem of nimble, sophisticated, independent testing companies who continuously develop and improve their skill evaluating AI testing, we can help bring about a future in which society benefits from the incredible power of AI tools while maintaining meaningful safeguards against destructive outcomes.
Javier E

How David Hume Helped Me Solve My Midlife Crisis - The Atlantic - 0 views

  • October 2015 IssueExplore
  • here’s Hume’s really great idea: Ultimately, the metaphysical foundations don’t matter. Experience is enough all by itself
  • What do you lose when you give up God or “reality” or even “I”? The moon is still just as bright; you can still predict that a falling glass will break, and you can still act to catch it; you can still feel compassion for the suffering of others. Science and work and morality remain intact.
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  • What turned the neurotic Presbyterian teenager into the great founder of the European Enlightenment?
  • your life might actually get better. Give up the prospect of life after death, and you will finally really appreciate life before it. Give up metaphysics, and you can concentrate on physics. Give up the idea of your precious, unique, irreplaceable self, and you might actually be more sympathetic to other people.
  • Go back to your backgammon game after your skeptical crisis, Hume wrote, and it will be exactly the same game.
  • Desideri retreated to an even more remote monastery. He worked on his Christian tracts and mastered the basic texts of Buddhism. He also translated the work of the great Buddhist philosopher Tsongkhapa into Italian.
  • That sure sounded like Buddhist philosophy to me—except, of course, that Hume couldn’t have known anything about Buddhist philosophy.
  • He spent the next five years in the Buddhist monasteries tucked away in the mountains around Lhasa. The monasteries were among the largest academic institutions in the world at the time. Desideri embarked on their 12-year-long curriculum in theology and philosophy. He composed a series of Christian tracts in Tibetan verse, which he presented to the king. They were beautifully written on the scrolls used by the great Tibetan libraries, with elegant lettering and carved wooden cases.
  • Desideri describes Tibetan Buddhism in great and accurate detail, especially in one volume titled “Of the False and Peculiar Religion Observed in Tibet.” He explains emptiness, karma, reincarnation, and meditation, and he talks about the Buddhist denial of the self.
  • The drive to convert and conquer the “false and peculiar” in the name of some metaphysical absolute was certainly there, in the West and in the East. It still is
  • For a long time, the conventional wisdom was that the Jesuits were retrograde enforcers of orthodoxy. But Feingold taught me that in the 17th century, the Jesuits were actually on the cutting edge of intellectual and scientific life. They were devoted to Catholic theology, of course, and the Catholic authorities strictly controlled which ideas were permitted and which were forbidden. But the Jesuit fathers at the Royal College knew a great deal about mathematics and science and contemporary philosophy—even heretical philosophy.
  • La Flèche was also startlingly global. In the 1700s, alumni and teachers from the Royal College could be found in Paraguay, Martinique, the Dominican Republic, and Canada, and they were ubiquitous in India and China. In fact, the sleepy little town in France was one of the very few places in Europe where there were scholars who knew about both contemporary philosophy and Asian religion.
  • Twelve Jesuit fathers had been at La Flèche when Desideri visited and were still there when Hume arrived. So Hume had lots of opportunities to learn about Desideri.One name stood out: P. Charles François Dolu, a missionary in the Indies. This had to be the Père Tolu I had been looking for; the “Tolu” in Petech’s book was a transcription error. Dolu not only had been particularly interested in Desideri; he was also there for all of Hume’s stay. And he had spent time in the East. Could he be the missing link?
  • in the 1730s not one but two Europeans had experienced Buddhism firsthand, and both of them had been at the Royal College. Desideri was the first, and the second was Dolu. He had been part of another fascinating voyage to the East: the French embassy to Buddhist Siam.
  • Dolu was an evangelical Catholic, and Hume was a skeptical Protestant, but they had a lot in common—endless curiosity, a love of science and conversation, and, most of all, a sense of humor. Dolu was intelligent, knowledgeable, gregarious, and witty, and certainly “of some parts and learning.” He was just the sort of man Hume would have liked.
  • Of course, it’s impossible to know for sure what Hume learned at the Royal College, or whether any of it influenced the Treatise. Philosophers like Descartes, Malebranche, and Bayle had already put Hume on the skeptical path. But simply hearing about the Buddhist argument against the self could have nudged him further in that direction. Buddhist ideas might have percolated in his mind and influenced his thoughts, even if he didn’t track their source
  • my quirky personal project reflected a much broader trend. Historians have begun to think about the Enlightenment in a newly global way. Those creaky wooden ships carried ideas across the boundaries of continents, languages, and religions just as the Internet does now (although they were a lot slower and perhaps even more perilous). As part of this new global intellectual history, new bibliographies and biographies and translations of Desideri have started to appear, and new links between Eastern and Western philosophy keep emerging.
  • It’s easy to think of the Enlightenment as the exclusive invention of a few iconoclastic European philosophers. But in a broader sense, the spirit of the Enlightenment, the spirit that both Hume and the Buddha articulated, pervades the story I’ve been telling.
  • as I read Buddhist philosophy, I began to notice something that others had noticed before me. Some of the ideas in Buddhist philosophy sounded a lot like what I had read in Hume’s Treatise. But this was crazy. Surely in the 1730s, few people in Europe knew about Buddhist philosophy
  • But the characters in this story were even more strongly driven by the simple desire to know, and the simple thirst for experience. They wanted to know what had happened before and what would happen next, what was on the other shore of the ocean, the other side of the mountain, the other face of the religious or philosophical—or even sexual—divide.
  • Like Dolu and Desideri, the gender-bending abbé and the Siamese astronomer-king, and, most of all, like Hume himself, I had found my salvation in the sheer endless curiosity of the human mind—and the sheer endless variety of human experience.
Javier E

Opinion | The Republican Party's Problem With the Elite Begins With Its Own - The New Y... - 0 views

  • This puts those Republican politicians saddled with inconvenient Ivy League degrees in an awkward position, like the guy who shows up in a tux for a rodeo wedding. In order to stay in office and on message, they must reject the very thing that propelled their own careers.
  • Remember, Ron DeSantis once eagerly joined one of Yale’s secret societies and told classmates he’d dreamed of attending Harvard Law. He founded a tutoring firm offering “the only LSAT prep courses designed exclusively by Harvard Law School graduates.
  • But once in office, he made a show of distancing himself from his academic credentials.
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  • “I viewed having earned degrees from Yale and Harvard Law School to be political scarlet letters as far as a G.O.P. primary went,” DeSantis wrot
  • His Ivy League brethren, Ted Cruz (Princeton, Harvard Law), Josh Hawley (Stanford, Yale Law) and Tom Cotton (Harvard, Harvard), take similar pains to wash off the taint of East Coast academia with good-ol’-boy cred.
  • The latest standard-bearer for regular-folk Republicans is a down-home J.D., now JD — no periods, dude — who went to Yale Law School only with the help of student loans and side jobs. What’s more, JD Vance first got a humbler degree at Ohio State through the G.I. Bill. At the Republican National Convention, Yale barely came up.
  • Gone is the bushy-tailed Vance who wrote in “Hillbilly Elegy,” “The coolest thing I’ve done, at least on paper, is graduate from Yale Law School, something 13-year-old J.D. Vance would have considered ludicrous.” The up-and-comer who, in thrall of Yale’s “aura,” confessed that he “wanted to go to Yale more than any other school.”
  • The Vance who emerged as a MAGA politician is one who, after reaping the benefits and connections of an elite graduate education, turned around and gave a speech in 2021 called “The Universities Are the Enemy.”“How ridiculous is it that we tell our young people to go to college, to get brainwashed?” he asked the crowd, going on to quote Nixon: “The professors are the enemy.” For Vance, the biggest takeaway from his Ivy League education is the monumental chip on his shoulder.
  • he Republican Party has turned ignorance into a point of pride.
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