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Javier E

The Tiny Swiss Company That Thinks It Can Help Stop Climate Change - The New York Times - 0 views

  • The scientist and historian Vaclav Smil called Haber-Bosch “the most important technical invention of the 20th century.” Bosch had effectively removed the historical bounds on crop yields, so much so that he was widely credited with making “bread from air.” By some estimates, Bosch’s work made possible the lives of more than two billion human beings over the last 100 years.
  • They depend on electric fans to pull air into the ducts and over a special material, known as a sorbent, laced with granules that chemically bind with CO₂; periodic blasts of heat then release the captured gas from the sorbent, with customized software managing the whole catch-and-release cycle.
  • “The first thing they said was: ‘This will never work technically.’ And finally in 2017 we convinced them it works technically, since we built the big plant in Hinwil. But once we convinced them that it works technically, they would say, ‘Well, it will never work economically.’ ”For the moment, skeptics of Climeworks’s business plan are correct: The company is not turning a profit.
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  • it faces the same daunting task that confronted Carl Bosch a century ago: How much can it bring costs down? And how fast can it scale up
  • They believe that over the next seven years they can bring expenses down to a level that would enable them to sell CO₂ into more lucrative markets. Air-captured CO₂ can be combined with hydrogen and then fashioned into any kind of fossil-fuel substitute you want. Instead of making bread from air, you can make fuels from air.
  • What Gebald and Wurzbacher really want to do is to pull vast amounts of CO₂ out of the atmosphere and bury it, forever, deep underground, and sell that service as an offset
  • companies like Climeworks face a quandary: How do you sell something that never existed before, something that may never be cheap, into a market that is not yet real?
  • It’s arguably the case, in fact, that when it comes to reducing our carbon emissions, direct air capture will be seen as an option that’s too expensive and too modest in impact. “The only way that direct air capture becomes meaningful is if we do all the other things we need to do promptly,” Hal Harvey, a California energy analyst who studies climate-friendly technologies and policies, told me
  • In short, the best way to start making progress toward a decarbonized world is not to rev up millions of air capture machines right now. It’s to stop putting CO₂ in the atmosphere in the first place.
  • If the nations of the world were to continue on the current track, it would be impossible to meet the objectives of the 2016 Paris Agreement, which set a goal limiting warming to 2 degrees Celsius or, ideally, 1.5 degrees. And it would usher in a world of misery and economic hardship. Already, temperatures in some regions have climbed more than 1 degree Celsius, as a report by the Intergovernmental Panel on Climate Change noted last October. These temperature increases have led to an increase in droughts, heat waves, floods and biodiversity losses and make the chaos of 2 or 3 degrees’ additional warming seem inconceivable
  • A further problem is that maintaining today’s emissions path for too long runs the risk of doing irreparable damage to the earth’s ecosystems — causing harm that no amount of technological innovation can make right. “There is no reverse gear for natural systems,” Harvey says. “If they go, they go. If we defrost the tundra, it’s game over.” The same might be said for the Greenland and West Antarctic ice sheets, or our coral reefs. Such resources have an asymmetry in their natural architectures: They can take thousands or millions of years to form, but could reach conditions of catastrophic decline in just a few decades.
  • To have a shot at maintaining a climate suitable for humans, the world’s nations most likely have to reduce CO₂ emissions drastically from the current level — to perhaps 15 billion or 20 billion metric tons per year by 2030; then, through some kind of unprecedented political and industrial effort, we need to bring carbon emissions to zero by around 2050
  • To preserve a livable environment we may also need to extract CO₂ from the atmosphere. As Wurzbacher put it, “if you take all these numbers from the I.P.C.C., you end up with something like eight to 10 billion tons — gigatons — of CO₂ that need to be removed from the air every year, if we are serious about 1.5 or 2 degrees.
  • Through photosynthesis, our forests take extraordinary amounts of carbon dioxide from the atmosphere, and if we were to magnify efforts to reforest clear-cut areas — or plant new groves, a process known as afforestation — we could absorb billions more metric tons of carbon in future years.
  • we could grow crops specifically to absorb CO₂ and then burn them for power generation, with the intention of capturing the power-plant emissions and pumping them underground, a process known as bioenergy with carbon capture and storage, or BECCS
  • Ever since the Industrial Revolution, human societies have produced an excess of CO₂, by taking carbon stores from deep inside the earth — in the form of coal, oil and gas — and from stores aboveground (mostly wood), then putting it into the atmosphere by burning it. It has become imperative to reverse the process — that is, take CO₂ out of the air and either restore it deep inside the earth or contain it within new surface ecosystems.
  • “It’s not about saying, ‘I want to plant a tree.’ It’s about saying, ‘We want to plant a billion trees.’
  • “We have to come to grips with the fact that we waited too long and that we took some options off the table,” Michael Oppenheimer, a Princeton scientist who studies climate and policy, told me. As a result, NETs no longer seem to be just interesting ideas; they look like necessities. And as it happens, the Climeworks machines on the rooftop do the work each year of about 36,000 trees.
  • air capture could likewise help counter the impact of several vital industries. “There are process emissions that come from producing iron and steel, cement and glass,” she says, “and any time you make these materials, there’s a chemical reaction that emits CO₂.” Direct air capture could even lessen the impacts of the Haber-Bosch processes for making fertilizer; by some estimates, that industry now accounts for 3 percent of all CO₂ emissions.
  • Wind and solar are now the cheapest forms of energy in the right locations,” Pacala says. “The return on those investments, if you calculated it, would blow the doors off anything in your portfolio. It’s like investing in early Apple. So it’s a spectacular story of success. And direct air capture is precisely the same kind of problem, in which the only barrier is that it’s too costly.”
  • what all the founders have in common is a belief that the cost of capturing a ton of carbon will soon drop sharply.
  • M.I.T.’s Howard Herzog, for instance, an engineer who has spent years looking at the potential for these machines, told me that he thinks the costs will remain between $600 and $1,000 per metric ton
  • He points out that because direct-air-capture machines have to move tremendous amounts of air through a filter or solution to glean a ton of CO₂ — the gas, for all its global impact, makes up only about 0.04 percent of our atmosphere — the process necessitates large expenditures for energy and big equipment. What he has likewise observed, in analyzing similar industries that separate gases, suggests that translating spreadsheet projections for capturing CO₂ into real-world applications will reveal hidden costs. “I think there has been a lot of hype about this, and it’s not going to revolutionize anything,
  • Climeworks’s current goal is to remove 1 percent of the world’s annual CO₂ emissions by the mid 2020s.
  • “Basically, we have a road map — $600, down to $400, down to $300 and $200 a ton,” Wurzbacher said. “This is over the next five years. Down to $200 we know quite well what we’re doing.” And beyond $200, Wurzbacher suggested, things get murkier.
  • To actually capture 1 percent of the world’s carbon emissions by 2025 would, by Gebald’s calculations, require that Climeworks build 250,000 carbon-capture plants like the ones on the roof at Hinwil. That adds up to about 4.5 million carbon collectors
  • The Climeworks founders therefore try to think of their product as the automotive industry might — a piece of mass-produced technology and metal, not the carbon they hope to sequester.
  • “Every CO₂ collector has about the same weight and dimensions of a car — roughly two tons, and roughly 2 meters by 2 meters by 2 meters,” Gebald said. “And all the methods used to produce the CO₂ collectors could be well automated. So we have the automotive industry as a model for how to produce things in large quantities for low cost.
  • n 1954, the economist Paul Samuelson put forward a theory that made a distinction between “private-consumption goods” — bread, cars, houses and the like — and commodities that existed apart from the usual laws of supply and demand.
  • the other type of commodity Samuelson was describing is something now known as a “public good,” which benefits everyone but is not bought, sold or consumed the same way
  • direct air capture’s success would be limited to the size of the market for private goods — soda fizz, greenhouse gas — unless governments decided to intervene and help fund the equivalent of several million (or more) lighthouses.
  • An intervention could take a variety of forms. It could be large grants for research to find better sorbent materials, for instance, which would be similar to government investments that long ago helped nurture the solar- and wind-power industries. But help could also come by expanding regulations that already exist.
  • The Climeworks founders told me they don’t believe their company will succeed on what they call “climate impact” scales unless the world puts significant prices on emissions, in the form of a carbon tax or carbon fee.
  • “Our goal is to make it possible to capture CO₂ from the air for below $100 per ton,” Wurzbacher says. “No one owns a crystal ball, but we think — and we’re quite confident — that by something like 2030 we’ll have a global average price on carbon in the range of $100 to $150 a ton.” There is optimism in this thinking
  • A company that sells a product or uses a process that creates high emissions — an airline, for instance, or a steel maker — could be required to pay carbon-removal companies $100 per metric ton or more to offset their CO₂ output. Or a government might use carbon-tax proceeds to directly pay businesses to collect and bury CO₂.
  • “It doesn’t cost too much to pump CO₂ underground,” Stanford’s Sally Benson says. Companies already sequester about 34 million metric tons of CO₂ in the ground every year, at a number of sites around the world, usually to enhance the oil-drilling process. “The costs range from $2 to $15 per ton. So the bigger cost in all of this is the cost of carbon capture.”
  • The weekend before, Gutknecht told me, he received 900 unsolicited inquiries by email. Many were from potential customers who wanted to know how soon Climeworks could bury their CO₂ emissions, or how much a machine might cost them.
  • A Climeworks app could be installed on my smartphone, he explained. It could then be activated by my handset’s location services. “You fly over here to Europe,” he explained, “and the app tells you that you have just burned 1.7 tons of CO₂. Do you want to remove that? Well, Climeworks can remove it for you. Click here. We’ll charge your credit card.
  • The vast and constant market demand for fuel is why Carbon Engineering has staked its future on synthetics. The world currently burns about 100 million barrels of oil a day.
  • “So let’s say you’d have to supply something like 50 million barrels a day in 2050 of fuels,” he said. “That’s still a monster market.”
  • Carbon Engineering’s chief executive, added that direct-air-capture synthetics have an advantage over traditional fossil fuels: They won’t have to spend a dime on exploration
  • our plants, you can build it right in the middle of California, wherever you have air and water.” He told me that the company’s first large-scale facility should be up and running by 2022, and will turn out at least 500 barrels a day of fuel feedstock — the raw material sent to refineries.
  • Climeworks recently joined a consortium of European countries to produce synthetic methane that will be used by a local trucking fleet. With different tweaks and refinements, the process could be adapted for diesel, gasoline, jet fuel — or it could be piped directly to local neighborhoods as fuel for home furnaces.
  • the new fuels are not necessarily cheaper. Carbon Engineering aspires to deliver its product at an ultimate retail price of about $1 per liter, or $3.75 per gallon. What would make the product competitive are regulations in California that now require fuel sellers to produce fuels of lower “carbon intensity.” To date this has meant blending gas and diesel with biofuels like ethanol, but it could soon mean carbon-capture synthetics too.
  • Since they’re made from airborne CO₂ and hydrogen and could be manufactured just about anywhere, they could rearrange the geopolitical order — tempering the power of a handful of countries that now control natural-gas and oil markets.
  • From an environmental standpoint, air-capture fuels are not a utopian solution. Such fuels are carbon neutral, not carbon negative. They can’t take CO₂ from our industrial past and put it back into the earth
  • Even so, these fuels could present an enormous improvement. Transportation — currently the most significant source of emissions by sector in the United States — could cease to be a net emitter of CO₂
  • “If you can do one carbon-capture facility, where Carbon Engineering or Climeworks can build a big plant, great. You need to do that 5,000 times. And to capture a million tons of CO₂ with direct air capture, you need a small power plant just to run that facility. So if you’re going to build one direct-air-capture facility every day for the next 30 years to get to some of these scenarios, then in addition, we have to build a new mini power plant every day as well.
  • It’s also the case that you have to address two extraordinary problems at the same time, Peters added. “To reach 1.5 degrees, we need to halve emissions every decade,” he said. That would mean persuading entire nations, like China and the United States, to switch from burning coal to using renewables at precisely the same time that we make immense investments in negative-emission technologies.
  • this would need to be done even as governments choose among competing priorities:
  • “The idea of bringing direct air capture up to 10 billion tons by the middle or later part of the century is such a herculean task it would require an industrial scale-up the likes of which the world has never seen,”
  • Pacala wasn’t pessimistic about making a start. He seemed to think it was necessary for the federal government to begin with significant research and investments in the technology — to see how far and fast it could move forward, so that it’s ready as soon as possible
  • Gebald and Wurzbacher seemed to regard the climate challenge in mathematical terms. How many gigatons needed to be removed? How much would it cost per ton? How many Climeworks machines were required? Even if the figures were enormous, even if they appeared impossible, to see the future their way was to redefine the problem, to move away from the narrative of loss, to forget the multiplying stories of dying reefs and threatened coastlines — and to begin to imagine other possibilities.
woodlu

Where Is Jack Ma? Alibaba's Founder Has Kept a Low Profile Since October - WSJ - 0 views

  • the billionaire businessman disappeared from the public limelight following brushes with Chinese regulators in recent weeks.
  • The 56-year-old former English teacher founded Alibaba Group Holding Ltd. from a small apartment in eastern China in 1999.
  • The startup grew from a fledgling internet business matching wholesale buyers and sellers into a fast-growing technology empire,
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  • nnual sales in excess of $86 billion.
  • Until recently, Mr. Ma, who is a Communist Party member, was held up as a role model by the Party for his contribution to the “digital economy.”
  • Regulators regarded the speech as a direct attack against them, and Ant’s public debut was halted just two days before its big day, with Chinese leader Xi Jinping personally intervening to scuttle the market listing,
  • spoke at a financial forum in Shanghai.
  • delivered a speech that was highly critical of Chinese regulators, who he said had stifled innovation in the financial industry.
  • Shortly after the speech, regulators scrapped a planned initial public offering of Ant that would have been the world’s largest to date, raising more than $34 billion from listings in Hong Kong and Shanghai.
  • Mr. Ma last appeared publicly in late October,
  • Beijing is now looking to shrink Mr. Ma’s technology and financial empire and potentially take a larger stake in his businesses,
  • Alibaba is now facing an antitrust probe by Chinese market regulators, who are investigating claims that the company abused its dominant position in the e-commerce industry to pressure some merchants to work only with its platforms.
  • In November last year, Mr. Ma didn’t appear on an episode of a television show in which he was set to appear as a judge,
  • An Alibaba spokeswoman said his absence was due to a scheduling conflict, and declined to comment on Mr. Ma’s activities.
  • t isn’t uncommon for Chinese billionaires to disappear from the public eye for long periods during legal and regulatory investigations.
  • I
  • Its market capitalization dropped in the final days of 2020 to less than $600 billion, from a high of $859 billion just before the Ant IPO was scuttled.
  • Alibaba owns one-third of Ant. Its shares have fallen by a further 2% so far in 2021.
Javier E

Why Changing The Way We See The Civil War Will Help Us Preserve Our Country | Talking P... - 0 views

  • Once the most popular name in the North was The War of the Rebellion, but to white Southerners that name made it too clear who was at fault. By the late 19th and early 20th century, as white Southerners and Northerners looked for ways to paper over some of the past, forget the overthrow of Reconstruction, and adjust to a reunited nation based on segregation and disfranchisement of the former slaves, the name the Civil War became popular as a way of covering up all the messiness and confusion of the conflict.
  • It wasn’t just a Brothers’ War or a family feud or a restorative war to save the Union, as the name Civil War implies. It was also something bigger than that: It was a revolution that deserved to stand next to the revolutions in England and Haiti and maybe even France. Like those revolutions, it was fought to remake the world, not just to determine who was in charge. And like those revolutions, it did not stay within the old boundaries of law and constitution but instead relied upon blunt, violent tools — military rule and occupation — to force through changes that the leaders could not accomplish by normal means.
  • The name the Civil War covered up the messiness in American history; many great historians have tried to uncover the full story through the language of revolution but they haven’t been able to convince the public or even other social scientists. But if we think of the Civil War as a revolution, we have to face some challenging ideas: that the system set up by the Founders faltered, that the country could not be saved by normal means, that slavery could not be killed by the typical procedures or laws and congressional debate
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  • The Constitution could not prevent civil war, and it could not end slavery. Therefore, Republicans reluctantly and temporarily abandoned some of their faith in the Constitution to save the country and to end slavery. They broke constitutional norms, relied on military rule, added states, and threatened to dismantle the Supreme Court because they did not believe they could end slavery within the Constitution as it was.
  • As architects of a country that failed, the First American Republic, the First Founders might shimmer as warnings or ideals but not as guides. Americans might have to shed the sense that the Founders possess answers to our current predicaments or blame for our situation. They might retain their glamor — like José Martí in Cuba, Miguel Hidalgo in Mexico, even Toussaint-Louverture in Haiti — as emblems of romantic struggles that do not quite speak to the present political conditions. We might see their work the way the French see the First, Second, Third, or Fourth Republics, as important preludes but also as relics who, having used up their magic, can safely be held and examined. Voices of the past, not oracles of the future.
Javier E

The Declaration Under Siege - The Bulwark - 0 views

  • Margaret Thatcher explained the stark difference between American and European political traditions with elegant economy. The Iron Lady said that European nations were made by history but the United States was made by philosophy.
  • Last month, the State Department issued a thoughtful and carefully reasoned report on that quintessentially American philosophy, and the unique nation that came into existence to conserve and champion it
  • The report explores the cause of natural law and natural rights, as articulated by the Declaration of Independence (as well as the 1948 Universal Declaration of Human Rights). In this theory, rights inhere in human individuals at birth, which is why we call them natural. “The sacred rights of mankind,” wrote Alexander Hamilton, “are written, as with a sun beam, in the whole volume of human nature.”
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  • Thus government does not create rights, nor does it dispense them. It merely recognizes and respects them. As George Will likes to say, the most important word in the Declaration of Independence is secure: “[T]o secure these rights, governments are instituted among men.”
  • The assumption of natural rights and government’s limited role to secure those rights, the bedrock premise of American political thought, finds itself widely embattled today. It is under pressure on university campuses and in the prestige media, and even challenged by self-professed advocates of human rights
  • The United States was from its beginning a republic “dedicated” to certain self-evident truths, foremost among them that “all men are created equal.
  • These founding principles of equal rights and human freedom—America’s public philosophy—contain what Will (in his bracing tome The Conservative Sensibility) calls “an epistemological assertion” that important political truths are not merely knowable but known.
  • In the world of 1776, the truths held to be self-evident by America’s founders were ferociously contested by kings and monarchs who claimed a divine right
  • Today, although despots still contest America’s great epistemological assertion, the problem in the West is closer to the opposite: everyone claims the truth is known, but with the crucial stipulation that no one’s truth is better or worse than anyone else’s.
  • Tom Nichols has written deftly about this phenomenon. “It is a new Declaration of Independence: no longer do we hold these truths to be self-evident, we hold all truths to be self-evident, even the ones that aren’t true. All things are knowable and every opinion on any subject is as good as any other.”
  • Thus does the American Founders’ assertion of truth, and its implication that not all claims to truth are equally valid, comes off as “judgmental” to modern ears
  • A central aim of progressivism has been to blur the distinction between what have been called “negative rights” (those that, like the Bill of Rights, protect life and liberty) and “positive rights” (those that obligate the government to provide certain services in pursuit of equality). This project brings concentrated focus on economic and social rights rather than fundamental political freedoms, and this ever-widening circle of rights has brought the older, limited system of rights under scrutiny.
  • If their expansive vision of rights is accepted as legitimate, it would bring the older vision—with its ironclad protections for free speech, and its ideals of a colorblind society, rational discourse, and the scientific method—into disrepute. These classical liberal ideals self-evidently clash with newly asserted rights, since they have already begun to be curtailed to make way for them.
  • The commission assails the left’s elastic conception of rights on the logic that Frederick the Great would recognize: “to defend everything is to defend nothing.” It argues that this proliferation of elective rights for certain groups (some of which are good in and of themselves) endangers the essential liberties of all.
  • Modern politics, built on progressive foundations, assumes that natural rights constitute an incomplete and therefore inadequate body of rights.
Javier E

The American retirement system is built for the rich - The Washington Post - 0 views

  • While loudly and proudly proclaiming that their goal is to nurture nest eggs for the working class, lawmakers have constructed a complex of tax shelters for the well-to-do. The lopsided result is that as of 2019, nearly 29,000 taxpayers had amassed “mega-IRAs” — individual retirement accounts with balances of $5 million or more — while half of American households had no retirement accounts at all.
  • according to the Congressional Budget Office, the top 10th of households reap a larger share of the income tax subsidy for retirement savings than the bottom 80 percent.
  • It’s working out just fine for the financial institutions that manage assets in IRAs and 401(k)s. The combined amount in those vehicles reached $21.6 trillion at the end of 2021 — up fivefold since 2000 — and the more money that pours in, the more that managers collect in fees
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  • University of Virginia law professor Michael Doran — who held tax policy roles at the Treasury Department under Presidents Bill Clinton and George W. Bush — calls the current state of affairs “the great American retirement fraud.”
  • Secure 2.0 would take the fraud to a new level: Its congressional supporters have engaged in Enron-style accounting gimmicks to mask the bill’s effects on deficit
  • from the outset, IRAs were a generous gift to the upper class. At the time, very few low- and middle-income individuals could afford to stash $1,500 in a retirement account each year — median income for U.S. households was $11,100 in 1974 — so the people taking full advantage of the new IRAs tended to be relatively rich
  • since the benefit was structured as a deduction, it was worth more to taxpayers in higher income brackets.
  • In the nearly half-century since, Congress has continually expanded the amount that individuals can pour into tax-deferred savings accounts.
  • Now, the JCT estimates that 401(k)s and other similar defined-contribution plans cost the federal government $200 billion per year.
  • individuals can contribute up to $6,000 per year to an IRA ($7,000 if age 50 or older), plus $20,500 to a 401(k) ($27,000 for 50-year-olds and up), with their employers potentially chipping in to bring the 401(k) total to $61,000 ($67,500 for the over-50 set).
  • In 2018, the most recent year for which data is available, 58 percent of taxpayers with wage income made no contribution to 401(k)-style plans, and less than 4 percent bumped up against the contribution cap.
  • As of 2020, approximately 63 percent of U.S. households had no such accounts.
  • (The very largest IRAs, like PayPal co-founder Peter Thiel’s reported $5 billion account, result from a different loophole: the ability of founders and early-stage investors to stuff IRAs with start-up stock
  • When JCT released data last summer showing that 28,615 taxpayers had accumulated $5 million or more in IRAs, lawmakers cried foul. Rep. Richard Neal (D-Mass.), who as chairman of the Ways and Means Committee is the top tax writer in the House, lamented the “exploitation” of IRAs. “IRAs are intended to help Americans achieve long-term financial security, not to enable those who already have extraordinary wealth to avoid paying their fair share in taxes,”
  • I calculated that an individual who made the maximum 401(k) contributions since 1990, investing exclusively in an S&P 500 index fund, would have more than $7 million in her account today.
  • Forbes revealed more than a decade ago that Thiel and another PayPal co-founder were using their IRAs to shelter entrepreneurial earnings; the Government Accountability Office flagged the IRA-stuffing phenomenon in 2014; and rather than clamping down, lawmakers from both parties sat on their hands.)
  • The Secure 2.0 bill, sponsored by Neal, doubles down on the inequities of the status quo. It will inevitably result in even more of the mega-IRAs that Neal and other Democrats decry.
  • Under current law, taxpayers must begin to take withdrawals from their 401(k)s and traditional IRAs at age 72. (It had been 70½ before Secure 1.0, signed into law by President Donald Trump in 2019, raised the age by a year and a half.
  • Secure 2.0 would bump that up to age 75. The change would mean that taxpayers with supersize IRAs could enjoy three extra years of tax-free growth before they needed to take money out
  • Lower-income retirees wouldn’t benefit because they don’t have the luxury of holding off on withdrawals, which they need to cover living expenses.
  • Another provision would lift the cap on 401(k) catch-up contributions at ages 62, 63 and 64 from $6,500 to $10,000. Factoring in employer matching contributions, that would raise the maximum 401(k) inflow to $71,000 per year.
  • if lawmakers were genuinely concerned about retirement security for people who need it, they wouldn’t start by aiding taxpayers who can afford to save more each year than most Americans earn. The higher limit on catch-up contributions will simply allow high-income taxpayers to race further ahead.
  • The top-weighted benefits of Secure 2.0 might be tolerable if they were offset by other tax increases on the rich — if this were all just moving money from one deep pocket to another. But the items audaciously labeled as “revenue provisions” in the bill generate revenue as real as Monopoly money.
  • The Rothification provisions in Secure 2.0 bring $35 billion of revenue into the 10-year window — ostensibly offsetting the cost of the bill’s giveaways — but the $35 billion is pure make-believe: It comes at the expense of an equivalent amount of revenue down the road.
  • If lawmakers from either party were truly concerned about the plight of low-income retirees, they would focus on strengthening Social Security, which actually provides a safety net for older people, rather than adding more deficit-financed bells and whistles to retirement accounts for the rich.
Javier E

Chinese billionaires feel the pinch | World | The Times - 0 views

  • The number of Chinese billionaires shrank by a fifth this year, the largest fall in the 24 years since the Hurun Rich List was first compiled.
  • “The result? China’s stock market has fallen sharply,
  • The number of real estate developers on the list fell again, from 50 per cent 20 years ago to just 10 per cent this year, after Beijing tightened real estate regulation
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  • China’s technology tycoons also slipped in the rankings after the United States placed hefty restrictions on tech exports to China. Zhang Yiming, the 39-year-old founder of ByteDance, TikTok’s parent company, stayed in second place — but his net worth dwindled 28 per cent to $35 billion.
  • Ma Huateng, also known as Pony Ma, 51, founder of the tech giant Tencent, fell to fifth place with a drop of $14.6 billion — almost a third of his wealth
  • Jack Ma, 58, founder of the Alibaba e-commerce company, slipped to ninth place from last year’s fifth spot after his net worth dropped 29 per cent.
Javier E

The new tech worldview | The Economist - 0 views

  • Sam Altman is almost supine
  • the 37-year-old entrepreneur looks about as laid-back as someone with a galloping mind ever could. Yet the ceo of OpenAi, a startup reportedly valued at nearly $20bn whose mission is to make artificial intelligence a force for good, is not one for light conversation
  • Joe Lonsdale, 40, is nothing like Mr Altman. He’s sitting in the heart of Silicon Valley, dressed in linen with his hair slicked back. The tech investor and entrepreneur, who has helped create four unicorns plus Palantir, a data-analytics firm worth around $15bn that works with soldiers and spooks
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  • a “builder class”—a brains trust of youngish idealists, which includes Patrick Collison, co-founder of Stripe, a payments firm valued at $74bn, and other (mostly white and male) techies, who are posing questions that go far beyond the usual interests of Silicon Valley’s titans. They include the future of man and machine, the constraints on economic growth, and the nature of government.
  • They share other similarities. Business provided them with their clout, but doesn’t seem to satisfy their ambition
  • The number of techno-billionaires in America (Mr Collison included) has more than doubled in a decade.
  • ome of them, like the Medicis in medieval Florence, are keen to use their money to bankroll the intellectual ferment
  • The other is Paul Graham, co-founder of Y Combinator, a startup accelerator, whose essays on everything from cities to politics are considered required reading on tech campuses.
  • Mr Altman puts it more optimistically: “The iPhone and cloud computing enabled a Cambrian explosion of new technology. Some things went right and some went wrong. But one thing that went weirdly right is a lot of people got rich and said ‘OK, now what?’”
  • A belief that with money and brains they can reboot social progress is the essence of this new mindset, making it resolutely upbeat
  • The question is: are the rest of them further evidence of the tech industry’s hubristic decadence? Or do they reflect the start of a welcome capacity for renewal?
  • Two well-known entrepreneurs from that era provided the intellectual seed capital for some of today’s techno nerds.
  • Mr Thiel, a would-be libertarian philosopher and investor
  • This cohort of eggheads starts from common ground: frustration with what they see as sluggish progress in the world around them.
  • Yet the impact could ultimately be positive. Frustrations with a sluggish society have encouraged them to put their money and brains to work on problems from science funding and the redistribution of wealth to entirely new universities. Their exaltation of science may encourage a greater focus on hard tech
  • the rationalist movement has hit the mainstream. The result is a fascination with big ideas that its advocates believe goes beyond simply rose-tinted tech utopianism
  • A burgeoning example of this is “progress studies”, a movement that Mr Collison and Tyler Cowen, an economist and seer of the tech set, advocated for in an article in the Atlantic in 2019
  • Progress, they think, is a combination of economic, technological and cultural advancement—and deserves its own field of study
  • There are other examples of this expansive worldview. In an essay in 2021 Mr Altman set out a vision that he called “Moore’s Law for Everything”, based on similar logic to the semiconductor revolution. In it, he predicted that smart machines, building ever smarter replacements, would in the coming decades outcompete humans for work. This would create phenomenal wealth for some, obliterate wages for others, and require a vast overhaul of taxation and redistribution
  • His two bets, on OpenAI and nuclear fusion, have become fashionable of late—the former’s chatbot, ChatGPT, is all the rage. He has invested $375m in Helion, a company that aims to build a fusion reactor.
  • Mr Lonsdale, who shares a libertarian streak with Mr Thiel, has focused attention on trying to fix the shortcomings of society and government. In an essay this year called “In Defence of Us”, he argues against “historical nihilism”, or an excessive focus on the failures of the West.
  • With a soft spot for Roman philosophy, he has created the Cicero Institute in Austin that aims to inject free-market principles such as competition and transparency into public policy.
  • He is also bringing the startup culture to academia, backing a new place of learning called the University of Austin, which emphasises free speech.
  • All three have business ties to their mentors. As a teen, Mr Altman was part of the first cohort of founders in Mr Graham’s Y Combinator, which went on to back successes such as Airbnb and Dropbox. In 2014 he replaced him as its president, and for a while counted Mr Thiel as a partner (Mr Altman keeps an original manuscript of Mr Thiel’s book “Zero to One” in his library). Mr Thiel was also an early backer of Stripe, founded by Mr Collison and his brother, John. Mr Graham saw promise in Patrick Collison while the latter was still at school. He was soon invited to join Y Combinator. Mr Graham remains a fan: “If you dropped Patrick on a desert island, he would figure out how to reproduce the Industrial Revolution,”
  • While at university, Mr Lonsdale edited the Stanford Review, a contrarian publication co-founded by Mr Thiel. He went on to work for his mentor and the two men eventually helped found Palantir. He still calls Mr Thiel “a genius”—though he claims these days to be less “cynical” than his guru.
  • “The tech industry has always told these grand stories about itself,” says Adrian Daub of Stanford University and author of the book, “What Tech Calls Thinking”. Mr Daub sees it as a way of convincing recruits and investors to bet on their risky projects. “It’s incredibly convenient for their business models.”
  • In the 2000s Mr Thiel supported the emergence of a small community of online bloggers, self-named the “rationalists”, who were focused on removing cognitive biases from thinking (Mr Thiel has since distanced himself). That intellectual heritage dates even further back, to “cypherpunks”, who noodled about cryptography, as well as “extropians”, who believed in improving the human condition through life extensions
  • Silicon Valley has shown an uncanny ability to reinvent itself in the past.
Javier E

Mistral, the 9-Month-Old AI Startup Challenging Silicon Valley's Giants - WSJ - 0 views

  • Mensch, who started in academia, has spent much of his life figuring out how to make AI and machine-learning systems more efficient. Early last year, he joined forces with co-founders Timothée Lacroix, 32, and Guillaume Lample, 33, who were then at Meta Platforms’ artificial-intelligence lab in Paris. 
  • hey are betting that their small team can outmaneuver Silicon Valley titans by finding more efficient ways to build and deploy AI systems. And they want to do it in part by giving away many of their AI systems as open-source software.
  • Eric Boyd, corporate vice president of Microsoft’s AI platform, said Mistral presents an intriguing test of how far clever engineering can push AI systems. “So where else can you go?” he asked. “That remains to be seen.”
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  • Mensch said his new model cost less than €20 million, the equivalent of roughly $22 million, to train. By contrast OpenAI Chief Executive Sam Altman said last year after the release of GPT-4 that training his company’s biggest models cost “much more than” $50 million to $100 million.
  • Brave Software made a free, open-source model from Mistral the default to power its web-browser chatbot, said Brian Bondy, Brave’s co-founder and chief technology officer. He said that the company finds the quality comparable with proprietary models, and Mistral’s open-source approach also lets Brave control the model locally.
  • “We want to be the most capital-efficient company in the world of AI,” Mensch said. “That’s the reason we exist.” 
  • Mensch joined the Google AI unit then called DeepMind in late 2020, where he worked on the team building so-called large language models, the type of AI system that would later power ChatGPT. By 2022, he was one of the lead authors of a paper about a new AI model called Chinchilla, which changed the field’s understanding of the relationship among the size of an AI model, how much data is used to build it and how well it performs, known as AI scaling laws.
  • Mensch took a role lobbying French policymakers, including French President Emmanuel Macron, against certain elements of the European Union’s new AI Act, which Mensch warned could slow down companies and would, in his view, do nothing to make AI safer. After changes to the text in Brussels, it will be a manageable burden for Mistral, Mensch says, even if he thinks the law should have remained focused on how AI is used rather than also regulating the underlying technology.  
  • For Mensch and his co-founders, releasing their initial AI systems as open source that anyone could use or adapt free of charge was an important principle. It was also a way to get noticed by developers and potential clients eager for more control over the AI they use
  • Mistral’s most advanced models, including the one unveiled Monday, aren’t available open source. 
sarahbalick

Afghan Taliban announce successor to Mullah Mansour - BBC News - 0 views

  • Afghan Taliban announce successor to Mullah Mansour
  • The Afghan Taliban have announced a new leader to replace Mullah Akhtar Mansour who was killed in a US drone strike.
  • Analysts say it is unlikely the group will change direction under hardline religious scholar Akhundzada.
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  • Last year the Taliban were plunged into turmoil when Mansour replaced the group's founder Mullah Mohammad Omar.
  • It doesn't look as if there will be a major shift in the Taliban's approach to peace talks under the new leadership. Mawlawi Hibatullah Akhundzada was deputy to Mullah Mansour and held senior positions under the movement's founder Mullah Omar.
  • A Taliban statement said the new appointment had been unanimous, the same word the Taliban used when Mullah Mansour took over. Splits soon emerged after that - this time there could still be some disagreements, but probably not enough to challenge the new leader's authority.
  • Hibatullah Akhundzada has been appointed as the new leader of the Islamic Emirate (Taliban) after a unanimous agreement in the shura (supreme council), and all the members of shura pledged allegiance to him,"
  • "We invite Mula Hibatullah to peace. Political settlement is the only option for the Taliban or new leadership will face the fate of Mansour," Javid Faisal tweeted.
  • Separately on Wednesday, 10 people were killed and four injured in a suicide attack that hit a bus carrying court employees in Kabul, government officials told the BBC.
Javier E

Silicon Valley Worries About Addiction to Devices - NYTimes.com - 1 views

  • founders from Facebook, Twitter, eBay, Zynga and PayPal, and executives and managers from companies like Google, Microsoft, Cisco and others listened to or participated
  • they debated whether technology firms had a responsibility to consider their collective power to lure consumers to games or activities that waste time or distract them.
  • Eric Schiermeyer, a co-founder of Zynga, an online game company and maker of huge hits like FarmVille, has said he has helped addict millions of people to dopamine, a neurochemical that has been shown to be released by pleasurable activities, including video game playing, but also is understood to play a major role in the cycle of addiction. But what he said he believed was that people already craved dopamine and that Silicon Valley was no more responsible for creating irresistible technologies than, say, fast-food restaurants were responsible for making food with such wide appeal. “They’d say: ‘Do we have any responsibility for the fact people are getting fat?’ Most people would say ‘no,’ ” said Mr. Schiermeyer. He added: “Given that we’re human, we already want dopamine.”
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  • “The responsibility we have is to put the most powerful capability into the world,” he said. “We do it with eyes wide open that some harm will be done. Someone might say, ‘Why not do so in a way that causes no harm?’ That’s naïve.” “The alternative is to put less powerful capability in people’s hands and that’s a bad trade-off,” he added.
  • the Facebook executive, said his primary concern was that people live balanced lives. At the same time, he acknowledges that the message can run counter to Facebook’s business model, which encourages people to spend more time online. “I see the paradox,” he said.
  • she believed that interactive gadgets could create a persistent sense of emergency by setting off stress systems in the brain — a view that she said was becoming more widely accepted. “It’s this basic cultural recognition that people have a pathological relationship with their devices,” she said. “People feel not just addicted, but trapped.”
  • Richard Fernandez, an executive coach at Google and one of the leaders of the mindfulness movement, said the risks of being overly engaged with devices were immense.
  •  
    First, I would like to point out that I read this article while distracted from my Extended Essay. Paradoxical, I know. The article points out many of the negative qualities of the glamorous lure of the internet. I found it interesting that internet usage can actually stimulate the production of dopamine in the body, making our attraction to the computer both a "high" and a true addiction. Not only have I seen an increasing number of articles on this topic in the past week or so, but I have also seen a rather large amount of articles pertaining to the "depression inducing" effect of the internet. Drawing from another article, logging onto social networking sites automatically bombards us with pictures of people we know having fun. Their pictures are beautiful and their status updates are witty. It is easy to see all of this content and immediately think something along the lines of: "why isn't my life that fun/hilarious/exciting?" or "I really wish that I were vacationing in Bora Bora". What we need to remember is that people choose what goes online, and, therefore, only choose to share the most glamourous sides of their lives. And let's not forget that those pictures most likely have at least one or more Instagram filter on them...
Brian Zittlau

The Secret History of Guns - Adam Winkler - The Atlantic - 0 views

  • Yet we’ve also always had gun control. The Founding Fathers instituted gun laws so intrusive that, were they running for office today, the NRA would not endorse them. While they did not care to completely disarm the citizenry, the founding generation denied gun ownership to many people: not only slaves and free blacks, but law-abiding white men who refused to swear loyalty to the Revolution.
  • For those men who were allowed to own guns, the Founders had their own version of the “individual mandate” that has proved so controversial in President Obama’s health-care-reform law: they required the purchase of guns. A 1792 federal law mandated every eligible man to purchase a military-style gun and ammunition for his service in the citizen militia. Such men had to report for frequent musters—where their guns would be inspected and, yes, registered on public rolls.
  • Malcolm X and the Panthers described their right to use guns in self-defense in constitutional terms. “Article number two of the constitutional amendments,” Malcolm X argued, “provides you and me the right to own a rifle or a shotgun.” Guns became central to the Panthers’ identity, as they taught their early recruits that “the gun is the only thing that will free us—gain us our liberation.”
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  • Martin Luther King Jr. applied for a permit to carry a concealed firearm in 1956, after his house was bombed. His application was denied, but from then on, armed supporters guarded his home. One adviser, Glenn Smiley, described the King home as “an arsenal.”
  • Republicans in California eagerly supported increased gun control. Governor Reagan told reporters that afternoon that he saw “no reason why on the street today a citizen should be carrying loaded weapons.” He called guns a “ridiculous way to solve problems that have to be solved among people of good will.” In a later press conference, Reagan said he didn’t “know of any sportsman who leaves his home with a gun to go out into the field to hunt or for target shooting who carries that gun loaded.” The Mulford Act, he said, “would work no hardship on the honest citizen.”
  • the Gun Control Act of 1968 amended and enlarged it. Together, these laws greatly expanded the federal licensing system for gun dealers and clarified which people—including anyone previously convicted of a felony, the mentally ill, illegal-drug users, and minors—were not allowed to own firearms. More controversially, the laws restricted importation of “Saturday Night Specials”—the small, cheap, poor-quality handguns so named by Detroit police for their association with urban crime, which spiked on weekends. Because these inexpensive pistols were popular in minority communities, one critic said the new federal gun legislation “was passed not to control guns but to control blacks.”
  • Indisputably, for much of American history, gun-control measures, like many other laws, were used to oppress African Americans.
  • One prosecutor in the impeachment trial, Representative John Bingham of Ohio, thought that the only way to protect the freedmen’s rights was to amend the Constitution. Southern attempts to deny blacks equal rights, he said, were turning the Constitution—“a sublime and beautiful scripture—into a horrid charter of wrong.”
  • Whether or not the Founding Fathers thought the Second Amendment was primarily about state militias, the men behind the Fourteenth Amendment—America’s most sacred and significant civil-rights law—clearly believed that the right of individuals to have guns for self-defense was an essential element of citizenship.
  • As the Yale law professor Akhil Reed Amar has observed, “Between 1775 and 1866 the poster boy of arms morphed from the Concord minuteman to the Carolina freedman.”
  • The Fourteenth Amendment illustrates a common dynamic in America’s gun culture: extremism stirs a strong reaction. The aggressive Southern effort to disarm the freedmen prompted a constitutional amendment to better protect their rights. A hundred years later, the Black Panthers’ brazen insistence on the right to bear arms led whites, including conservative Republicans, to support new gun control. Then the pendulum swung back. The gun-control laws of the late 1960s, designed to restrict the use of guns by urban black leftist radicals, fueled the rise of the present-day gun-rights movement—one that, in an ironic reversal, is predominantly white, rural, and politically conservative.
  • In the 1920s and ’30s, the NRA was at the forefront of legislative efforts to enact gun control. The organization’s president at the time was Karl T. Frederick, a Princeton- and Harvard-educated lawyer known as “the best shot in America”
  • Frederick’s model law had three basic elements. The first required that no one carry a concealed handgun in public without a permit from the local police. A permit would be granted only to a “suitable” person with a “proper reason for carrying” a firearm. Second, the law required gun dealers to report to law enforcement every sale of a handgun, in essence creating a registry of small arms. Finally, the law imposed a two-day waiting period on handgun sales.
  • The NRA today condemns every one of these provisions as a burdensome and ineffective infringement on the right to bear arms. Frederick, however, said in 1934 that he did “not believe in the general promiscuous toting of guns. I think it should be sharply restricted and only under licenses.” The NRA’s executive vice president at the time, Milton A. Reckord, told a congressional committee that his organization was “absolutely favorable to reasonable legislation.”
  • In the 1960s, the NRA once again supported the push for new federal gun laws. After the assassination of President John F. Kennedy in 1963 by Lee Harvey Oswald, who had bought his gun through a mail-order ad in the NRA’s American Rifleman magazine, Franklin Orth, then the NRA’s executive vice president, testified in favor of banning mail-order rifle sales. “We do not think that any sane American, who calls himself an American, can object to placing into this bill the instrument which killed the president of the United States.”
  • In May 1977, Carter and his allies staged a coup at the annual membership meeting. Elected the new executive vice president, Carter would transform the NRA into a lobbying powerhouse committed to a more aggressive view of what the Second Amendment promises to citizens.
  • Wayne LaPierre, the current executive vice president, warned members in 1995 that anyone who wears a badge has “the government’s go-ahead to harass, intimidate, even murder law-abiding citizens.”
  • In 2008, in a landmark ruling, the U.S. Supreme Court declared that the government cannot ever completely disarm the citizenry. In District of Columbia v. Heller, the Supreme Court clearly held, for the first time, that the Second Amendment guarantees an individual’s right to possess a gun. In an opinion by Justice Antonin Scalia, the Court declared unconstitutional several provisions of the District’s unusually strict gun-control law, including its ban on handguns and its prohibition of the use of long guns for self-defense. Indeed, under D.C.’s law, you could own a shotgun, but you could not use it to defend yourself against a rapist climbing through your bedroom window.
  • True, the Founders imposed gun control, but they had no laws resembling Scalia’s list of Second Amendment exceptions. They had no laws banning guns in sensitive places, or laws prohibiting the mentally ill from possessing guns, or laws requiring commercial gun dealers to be licensed. Such restrictions are products of the 20th century. Justice Scalia, in other words, embraced a living Constitution. In this, Heller is a fine reflection of the ironies and contradictions—and the selective use of the past—that run throughout America’s long history with guns.
Javier E

A News Organization That Rejects the View From Nowhere - Conor Friedersdorf - The Atlantic - 0 views

  • For many years, Rosen has been a leading critic of what he calls The View From Nowhere, or the conceit that journalists bring no prior commitments to their work. On his long-running blog, PressThink, he's advocated for "The View From Somewhere"—an effort by journalists to be transparent about their priors, whether ideological or otherwise.  Rosen is just one of several voices who'll shape NewCo. Still, the new venture may well be a practical test of his View from Somewhere theory of journalism. I chatted with Rosen about some questions he'll face. 
  • The View from Nowhere won’t be a requirement for our journalists. Nor will a single ideology prevail. NewCo itself will have a view of the world: Accountability journalism, exposing abuses of power, revealing injustices will no doubt be part of it. Under that banner many “views from somewhere” can fit.
  • The way "objectivity" evolves historically is out of something much more defensible and interesting, which is in that phrase "Of No Party or Clique." That's the founders of The Atlantic saying they want to be independent of party politics. They don't claim to have no politics, do they? They simply say: We're not the voice of an existing faction or coalition. But they're also not the Voice of God.
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  • NewCo will emulate the founders of The Atlantic. At some point "independent from" turned into "objective about." That was the wrong turn, made long ago, by professional journalism, American-style.
  • You've written that The View From Nowhere is, in part, a defense mechanism against charges of bias originating in partisan politics. If you won't be invoking it, what will your defense be when those charges happen? There are two answers to that. 1) We told you where we're coming from. 2) High standards of verification. You need both.
  • If it works out as you hope, if things are implemented well, etc., what's the potential payoff for readers? I think it's three things: First, this is a news site that is born into the digital world, but doesn't have to return profits to investors. That's not totally unique
  • What about ideological diversity? The View from Somewhere obviously permits it. You've said you'll have it. Is that because it is valuable in itself?
  • When people talk about objectivity in journalism they have many different things in mind. Some of these I have no quarrel with. You could even say I’m a “fan.” For example, if objectivity means trying to ground truth claims in verifiable facts, I am definitely for that. If it means there’s a “hard” reality out there that exists beyond any of our descriptions of it, sign me up. If objectivity is the requirement to acknowledge what is, regardless of whether we want it to be that way, then I want journalists who can be objective in that sense. Don’t you? If it means trying to see things in that fuller perspective Thomas Nagel talked about–pulling the camera back, revealing our previous position as only one of many–I second the motion. If it means the struggle to get beyond the limited perspective that our experience and upbringing afford us… yeah, we need more of that, not less. I think there is value in acts of description that do not attempt to say whether the thing described is good or bad. Is that objectivity? If so, I’m all for it, and I do that myself sometimes. 
  • By "we can do better than that" I mean: We can insist on the struggle to tell it like it is without also insisting on the View from Nowhere. The two are not connected. It was a mistake to think that they necessarily are. But why was this mistake made? To control people in the newsroom from "above." That's a big part of objectivity. Not truth. Control.
  • The basic insight is correct: Since "news judgment" is judgment, the product is improved when there are multiple perspectives at the table ... But, if the people who are recruited to the newsroom because they add perspectives that might otherwise be overlooked are also taught that they should leave their politics at the door, or think like professional journalists rather than representatives or their community, or privilege something called "news values" over the priorities they had when they decided to become journalists, then these people are being given a fatally mixed message, if you see what I mean. They are valued for the perspective they bring, and then told that they should transcend that perspective.
  • Second: It's going to be a technology company as much as a news organization. That should result in better service.
  • a good formula for innovation is to start with something people want to do and eliminate some of the steps required to do it
  • The third upside is news with a human voice restored to it. This is the great lesson that blogging gives to journalism
Javier E

Work Policies May Be Kinder, but Brutal Competition Isn't - The New York Times - 0 views

  • a closer look at the forces that drive the relentless pace at elite companies suggests that — however much the most sought-after employers in the country may be changing their official policies — brutal competition remains an inescapable component of workers’ daily lives. In some ways it’s getting worse.
  • the basic problem is that the rewards for ascending to top jobs at companies like Netflix and Goldman Sachs are not just enormous, they are also substantially greater than at companies in the next tier down. As a result, far more people are interested in these jobs than there are available slots, leading to the brutal competition
  • Grueling competition remains perhaps the defining feature of the upper echelon in today’s white-collar workplace.
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  • If anything, analysts point out, Amazon offers at least one major advantage over many other companies, which is that its founder and chief executive, Jeff Bezos, has created a culture in which employees typically know exactly where they stand. “It’s a super attention-rich environment,” said Marcus Buckingham, an author and founder of the firm TMBC, which advises large companies on employee evaluation and performance. “There’s a lot of critical attention. They’re almost never ignored.”
  • The legal profession, one of the most brutal when it comes to pace and time commitment, illuminates the economic logic of a system where a large initial cohort of workers is gradually culled until only a small fraction are left.
  • The so-called Cravath system, named after the prestigious New York law firm known today as Cravath, Swaine & Moore, began to be put in place in the early 20th century. The firm and its imitators hired a large class of entry-level associates from the top law schools in the country, then relentlessly sifted them out over a period of several years, at the end of which only the most brilliant and productive — historically about one in 10 or 15 — became partners.
  • Those who did not make partner got first-rate legal training along the way, though, and were almost always able to land respectable jobs at lesser firms or as in-house corporate lawyers. For Cravath, it was also a plus: The partners made good money billing out its associates at top-of-market rates.
  • The thinning process even has its own name among scholars of law firms: the tournament.
  • Variations on the tournament are also the norm at elite management consulting firms and investment banks.
  • in many cases, many of the overachievers who are candidates for upper management at companies like Amazon welcome the breakneck pace and unyielding expectations. They just want to know that the system will be meritocratic. “We don’t mind competition,” he said. “We mind unfair competition.”
  • But there are some signs of change, as more and more young highly credentialed workers acknowledge that they can’t fulfill their responsibilities as husbands, wives, parents and friends while ascending through their organizations.
  • As in previous decades, the legal profession may hint at what’s to come. Alternative work arrangements are proliferating, and many previously elite firms are finding they no longer have the profits or the partnership slots to make the Cravath system work, abandoning the field of play to only a tiny number of ultrasuccessful firms.
  • “Amazon is at the top of the food chain,” Professor Henderson said. “Maybe they can get away with it. But most firms can’t rank and yank.”
sgardner35

Only the Dead documentary: Michael Ware's experiences in Iraq - 0 views

  • but after surviving a beheading attempt and witnessing true moments of horror, he began to feel complicit in the violence around him.
  • The Australian journalist is the only war correspondent to survive being kidnapped by al-Qaeda in Iraq, and became obsessed with its founder Abu Musab al-Zarqawi. He has opened up about his experiences in the film Only The Dead, which is showing at the Sydney Film Festival.
  • He now believes it was the first-ever attack by what the world now knows as the Islamic State.
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  • “It was frightening. I’d surrendered myself to these guerillas, men the Americans were hunting and I had found, not knowing if they were friends or if they were going to kill me. I guess I knew it was insane, but I couldn’t help myself,”
  • They also began filming beheadings on camera, a tactic that has become one of the signatures of Islamic State.
  • When al-Zarqawi wanted to declare his arrival on the global stage he released a video through Ware. Other insurgents also gave him videos filmed during their actions. This was before the rise of YouTube, Twitter and Facebook.
  • “But it was at this moment, where there’s two of them arguing about how to work my camera, that my insurgent escort finally piped up and stepped in and said that they could not kill me. He said that there will be a turf war between our two groups if you kill this man because he’s our guest, and it was only through gritted teeth that Zarqawi’s men literally pushed me back and I became the only Westerner who ever survives Zarqawi’s organisation.”
  • While the Iraqi Prime Minister has made comments this week that Islamic State did not start in Iraq, but in Syria, Ware said this was “absolutely wrong”.“We of the West removed the regime of Saddam Hussein, we presented a new platform for global jihad, right there in the Middle East. And the man who stepped into that breach was the founder of the Islamic State, a man called Abu Musab al-Zarqawi.”
  • He said that the only way to regain control of Ramadi was for the local population and the Sunni tribes to rise up again as they did in 2006 and 2007 but this was almost certainly not going to happen. “It’s not a battle that can be won,” he said.
  • “A soldier once wrote that there’s certain dark chambers of the heart that once opened can never be closed again. And when you’re living that human experience in war, which is stretched to its extreme, you start to find these places within your own self,” Ware told Lateline.
  • “In so many ways, the experience of going to war is humbling. It brings you a whole new perspective to life. I will never see the world the same way again, and in so many ways, that’s a privilege. That from now on, every day is a gift, for me and for so many of my friends. And I wouldn’t trade that. But it takes work to get there, as any soldier will tell you. Often, the homecoming is harder than the war itself.”
  • Daily Deals
Javier E

The American People and the Politics of American Identity - 0 views

  • There is no American ethnicity; the U.S. is a resolutely multicultural (and multilingual) country. The usual idea is that American identity is creedal, or organized around a distinctively American set of ideas and value.s
  • The trouble is that even when there is widespread agreement on nominally common values, conceptions of those values vary wildly.
  • Take the belief in individual freedom. Some Americans have understood individual freedom as freedom from all non-defensive physical force and fraud. Some Americans have understood individual freedom as implying roughly equal voice in the democratic process, which straightforwardly requires the redistribution of resources and state regulation of spending on political speech. Some Americans have understood individual freedom as a condition of robust autonomy or self-governance that requires universal government-financed education and a minimum of material resources necessary to ensure that individuals are able actually to exercise their liberty and are not caged-in by necessity. And none of these are the conception of individual liberty that prevailed among the Founders. Anyway, there was heated disagreement among the Founders, too. Some them took the ideal of individual freedom to be consistent with chattel slavery while others correctly found human bondage obviously at odds with liberty. Some defended a robust conception of freedom of conscience while others wished to ban the practice of certain religions for freedom’s sake. And so on
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  • its misguided to appeal to the American creed as the basis of the American identity of the American people. There are multiple conceptions of American creed equally consistent with American history. That’s why movements to glorify, elevate, and honor a particular conception of American identity based on a particular conception of the American creed necessarily  marginalize equally or more historically plausible conceptions and therefore tend to suggest that citizens who favor those conceptions are less or even un-American.
  • The conservative conception of American identity is so selective and so specific that it tends to suggest to its adherents that many (maybe even most!) Americans aren’t real Americans, or are Americans who betray real American ideals.
Javier E

For Stanford Class of '94, a Gender Gap More Powerful Than the Internet - NYTimes.com - 0 views

  • “The Internet was supposed to be the great equalizer,” said Gina Bianchini, the woman who had appeared on the cover of Fortune. “So why hasn’t our generation of women moved the needle?”
  • identity politics pushed many people into homogeneous groups; Scott Walker, one of the only African-Americans in the class to try founding a start-up, said in an interview that he regretted spending so much time at his all-black fraternity, which took him away from the white friends from freshman year who went on to found and then invest in technology companies.
  • If the dawn of the start-up era meant that consumer-oriented ideas were becoming more important than proprietary technology, he asked himself aloud, shouldn’t more women have flooded in?
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  • But with the web, “all of the sudden we began moving to a market where first mover advantage became enormous,” he said. Connection speeds were growing faster, Americans were starting to shop online, and multiplying e-commerce sites fought gladiatorial battles to control most every area of spending.
  • But there were still many hoops women had greater trouble jumping through — components that had to be custom-built, capital that needed to be secured from a small number of mostly male-run venture firms.
  • “The notion that diversity in an early team is important or good is completely wrong,” he added. “The more diverse the early group, the harder it is for people to find common ground.”
  • David Sacks, on the other hand, was unmarried and unencumbered, and in 1999 he left politics, his law degree and a job at the consulting firm McKinsey & Company to join his Stanford Review friends at a technology start-up, because of “the desire to live on the edge, to fight an epic battle, to experience in a very diluted way what previous generations must have felt as they prepared to go to war,” he wrote at the time. For his generation, he wrote, “instead of violence, unbridled capitalism has become the preferred vehicle for channeling their energy, intellect and aggression.”
  • his lack of social grace became an asset, according to Mr. Thiel and other former colleagues. He did not waste time on meetings that seemed pointless, and he bluntly insisted that the engineers whittle an eight-page PayPal registration process down to one.
  • he and Mr. Thiel now had a setting in which to try out their ideas about diversity and meritocracy. “In the start-up crucible, performing is all that matters,” Mr. Sacks wrote about that time. He wanted to give all job applicants tests of cognitive ability, according to his colleague Keith Rabois, and when the company searched for a new chief executive, one of the requirements was an I.Q. of 160 — genius level.
  • But those debates did a great deal for Mr. Sacks. After graduation, he and Mr. Thiel published “The Diversity Myth,” a book-length critique of Stanford’s efforts. Within a few more years, he, Mr. Thiel, Mr. Rabois and others had transformed themselves into a close-knit network of technology entrepreneurs — innovators who created billion-dollar business after billion-dollar business, using the ideas, ethos and group bonds they had honed at The Stanford Review.
  • intentionally or not, he stated something many people quietly believed: The same thing that made Silicon Valley phenomenally successful also kept it homogeneous, and start-ups had an almost inevitable like-with-like quality.
  • The kind of common ground shared by the early PayPal leaders “is always the critical ingredient on the founding teams,” Mr. Thiel said in an interview. “You have these great friendships that were built over some period of time. Silicon Valley flows out of deep relationships that people have built. That’s the structural reality.”
  • Less than 10 years after graduation, he and Mr. Thiel had been transformed from outcasts into favorites with a reputation for seeing the future. Far from the only libertarians in Silicon Valley, they had finally found an environment that meshed perfectly with their desire for unfettered competition and freedom from constraints. The money they made seemed like vindication of their ideas.
  • The success of the struggle to create PayPal, and its eventual sale price, gave the men a new power: the knowledge to create new companies and the ability to fund their own and one another’s. Billion-dollar start-ups had been rare. But in the next few years, the so-called PayPal Mafia went on to found seven companies that reached blockbuster scale, including YouTube, LinkedIn, Yelp and a business-messaging service called Yammer, founded by Mr. Sacks and sold a few years later to Microsoft for $1.2 billion.
  • Since 1999, the number of female partners in venture capital has declined by nearly half, from 10 percent to 6 percent, according to a recent Babson College study.
  • in early 2014, Ms. Vassallo was quietly let go. The firm was downsizing over all, especially in green technology, one of Ms. Vassallo’s specialties, and men were shown the exit as well. But in interviews, several former colleagues said it was far from an easy environment for women, with all-male outings and fierce internal competition for who got which board seat — meaning internal credit — for each company, not to mention a sexual discrimination lawsuit filed by a female junior partner, scheduled for trial in early 2015.
  • They also said that Ms. Vassallo, earnest and so technical that she started a robotics program at a local girls’ school, had not been as forceful, or as adept a politician, as some of her male peers.
  • Another woman from the class of 1994 was quoted in the Fortune article: Trae Vassallo, who was Traci Neist when she built the taco-eating machine all those years ago, attended Stanford Business School with Ms. Herrin and Ms. Bianchini, co-founded a mobile device company, and then joined Kleiner Perkins, a premier venture capital firm.
  • As classmates started conversations with greetings like “How’s your fund?” some of those who did not work in technology joked that they felt like chumps. The Stanford campus had gone computer science crazy, with the majority of students taking programming courses. A career in technology didn’t feel like a risk anymore — it felt like a wise bet, said Jennifer Widom, a programming professor turned engineering dean. Computer science “is a degree that guarantees you a future, regardless of what form you decide to take it in,” she said.
  • The nature of start-ups was shifting again, too, this time largely in women’s favor. From servers onward, many components could be inexpensively licensed instead of custom-built. Founders could turn to a multiplying array of investment sources, meaning they no longer had to be supplicants at a handful of male-run venture firms. The promise that the Internet would be a leveler was finally becoming a bit more fulfilled.
  • The frenzy had an unlikely effect on the some members of the Stanford Review group: They were becoming cheerleaders for women in technology, not for ideological reasons, but for market-based ones.
  • Like many others, he was finding that the biggest obstacle to starting new companies was a dearth of technical talent so severe they worried it would hinder innovation.
  • The real surprise of the reunion weekend, however, was that more of the women in the class of ’94 were finally becoming entrepreneurs, later and on a smaller scale than many of the men, but founders nonetheless.
  • The rhythms of their lives and the technology industry were finally clicking: Companies were becoming easier to start just as their children were becoming more self-sufficient, and they did not want to miss another chance.
katyshannon

Reported bitcoin 'founder' Craig Wright's home raided by Australian police | Technology... - 0 views

  • Police have raided the home of an Australian tech entrepreneur identified by two US publications as one of the early developers of the digital currency bitcoin.
  • On Wednesday afternoon, police gained entry to a home belonging to Craig Wright, who had hours earlier been identified in investigations by Gizmodo and Wired, based on leaked transcripts of legal interviews and files. Both publications have indicated that they believe Wright to have been involved in the creation of the cryptocurrency.
  • Other people who say they knew Wright have expressed strong doubts about his alleged role, with some saying privately they believe the publications have been the victims of an elaborate hoax.
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  • More than 10 police personnel arrived at the house in the Sydney suburb of Gordon at about 1.30pm. Two police staff wearing white gloves could be seen from the street searching the cupboards and surfaces of the garage. At least three more were seen from the front door.
  • The Australian Federal police said in a statement that the raids were not related to the bitcoin claims. “The AFP can confirm it has conducted search warrants to assist the Australian Taxation Office at a residence in Gordon and a business premises in Ryde, Sydney. This matter is unrelated to recent media reporting regarding the digital currency bitcoin.”
katyshannon

News from The Associated Press - 0 views

  • The largest group of world leaders ever to stand together kicked off two weeks of high-stakes climate talks outside Paris on Monday, saying that striking an ambitious deal to curb global warming can show terrorists what countries can achieve when they are united.
  • The U.N.-organized gathering of 151 heads of state and government comes at a somber time for France, two weeks after militants linked to the Islamic State group killed 130 people around Paris. Fears of more attacks prompted extra-high security and a crackdown on environmental protests.
  • The conference is aimed at the most far-reaching deal ever to tackle global warming. The last major agreement, the 1997 Kyoto Protocol, required only rich countries to cut carbon dioxide emissions, and the U.S. never signed on. Since then, global temperatures and sea levels have continued to rise, and the Earth has seen an extraordinary run of extreme weather.
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  • More than 180 countries have already submitted individual national plans, but a climate deal is by no means guaranteed.
  • Among several sticking points is money - how much rich countries should invest to help poor countries cope with climate change, how much should be invested in renewable energy, and how much traditional oil, gas and coal producers stand to lose if countries agree to forever reduce emissions.
  • Reviving the rich-poor differences that caused earlier climate talks to fail, Chinese President Xi Jinping said an eventual global deal must include aid for poor countries and acknowledge differences between developing and established economies.
  • Many of the leaders said the world must keep the average temperature within 1 degree Celsius (1.8 degrees Fahrenheit) of current levels - and if possible to half that, to spare island nations threatened by rising seas.
  • The world has already warmed nearly 1 degree Celsius since the beginning of the industrial age, and factories and cars continue to belch pollution around the world.
  • Many of the leaders framed the problem as a generational issue, where current leaders owe future generations a livable Earth.
  • Leaders called their attendance in Paris an act of defiance after the Nov. 13 attacks, some of which occurred near the airfield north of the city where the conference is taking place.
  • Many of the leaders paid their respects at sites linked to the attacks. Obama, in a late-night visit, placed a single flower outside the concert hall where dozens were killed, and bowed his head in silence.
  • To that end, at least 19 governments and 28 leading world investors were announcing billions of dollars in investments to research and develop clean energy technology, with the goal of making it cheaper. Backers include Obama, Microsoft co-founder Bill Gates, Facebook founder Mark Zuckerberg, billionaires George Soros and Saudi Prince Alaweed bin Talal, and Jack Ma of China's Alibaba.
  • Under the initiative, 19 countries pledge to double their spending on low- or no-carbon energy over the next five years. They currently spend about $10 billion a year, about half of that from the U.S.
  • Gates said he and other investors, including the University of California, are pitching in $7 billion so far and hope to raise more this week.
  • In another announcement, the United States, Canada and nine European countries pledged nearly $250 million to help the most vulnerable countries adapt to rising seas, droughts and other consequences of climate change. Germany pledged $53 million, the U.S. $51 million and Britain $45 million.
  • The money will be made available to a fund for the least developed countries. Other countries that contributed include Denmark, Finland, France, Ireland, Italy, Sweden and Switzerland.
johnsonma23

Amnesty is not immigration reform - 0 views

  • Voting rights advocates observe somber King holiday
  • While most of the country will spend the Martin Luther King Jr. holiday remembering the peaceful nature and civil rights successes lodged by the late leader, voting rights advocates say this is a dark time for them.
  • Many might spend Monday reflecting on King's 1965 Selma-to-Montgomery march to push for voting equality for black Americans,
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  • voting rights advocates note that there has been a major setback in their world.
  • Also, 33 states now have Voter ID laws in place with increased identification requirements for people seeking to cast ballots
  • “I anticipate arrests, in and outside the Capitol,” Brooks said. “Congress allowing the Voting Rights Act to be gutted has disrupted our democracy … so our democracy should get back to functioning as it should.”
  • acts of civil disobedience and even a mid-April march from
  • What many view as the gutting of the Voting Rights Act has prompted civil rights advocates to take action. A coalition of 100 organizations including the NAACP will stage a string of protests
  • controversial one for civil rights advocates, who maintain that some groups of Americans, including older people and minorities, are less likely to have the sort of identification that would be required.
  • "We are making it very clear that we're protecting the right to vote, insuring the integrity of the right to vote and getting out the vote. This is not all of us registering people to vote and waiting for November with polite patience."
  • Rights that had appeared to be resolved as matters of controversy in American politics are unfortunately once again up for grabs. It’s hard to imagine what’s more American than insuring the right to vote for all Americans, and what could be more un-American than impeding it?”
  • Citizen Cruz: Our view
  • Legal case against the Canadian-born senator's eligibility is weak, but not non-existent.
  • The most boisterous exchange in Thursday night's Republican debate was not over terrorism, guns or the economy. It was over Texas Sen. Ted Cruz’s eligibility under the Constitution
  • to run for president because
  • “Democrats are going to be bringing a suit,” Trump predicted, adding, “There’s a big question mark on your head.”
  • the chances of any litigation proceeding and succeeding on this are zero.”
  • Cruz is as American as anybody born on U.S. soil.  And Trump, by suggesting that the Constitution’s “natural born” citizen clause could actually keep Cruz out of the White House, is trying to eliminate an oppone
  • the founders wrote that only "a natural born citizen" is eligible to be president. They  did not define the phrase further.
  • Cruz was born in Canada, but there is no doubt that he is an American citizen because his mother was a U.S. citizen.
  • 1787, the founders feared that some foreign-born interloper, perhaps from England, might come to the USA and seek the presidency for nefarious reasons
  • candidacies of others have been challenged on this point. Former Michigan governor George Romney, who was born in Mexico to two American parents and ran for the 1968 GOP nomination, was threatened with legal action before he dropped out for other reasons.
  • The overwhelming weight of legal scholarship is on Cruz’s side. Many scholars assert that an infant born to an American parent, regardless of location, acquires citizenship “at birth” and therefore passes the “natural born” test
  • They argue that the meaning of “natural born” should be viewed in the context of the 1700s, when where you were born was the controlling factor.
  • In 2008, a bipartisan Senate resolution was passed by unanimous consent, asserting that McCain was indeed a “natural born” citizen
  • If the problem can't be fixed legislatively, a constitutional amendment would be necessary. Those are hard to pass, as Sen. Orrin Hatch, R-Utah, discovered after he introduced one in 2003 that would have allowed anyone who has been a citizen for 20 years, and is otherwise eligible, to become presiden
  • Amnesty is not immigration reform: Opposing view
  • There have been several legislative attempts to overhaul U.S. immigration policy over the past decade. All of them failed
  • how immigration affects the economic, social and national security interests of the American people — was, at best, an afterthought.
  • Immigration has taken center stage in the 2016 campaign because many Americans have come to recognize that it is a policy without any definable public interest objective
  • Granting amnesty — euphemistically called “a pathway to citizenship” — is not immigration reform
  • institutionalizes the government’s failure to protect the interests of the American people, and encourages still more illegal immigration.
  • amnesty benefits illegal aliens, it does not promote any public interest. Nearly half of all adult illegal aliens have not completed high schoo
  • high-productivity, high-earning workers. What it will do, over time, is make them eligible to add to the 51% of immigrant-headed households in the U.S. that rely on some form of welfare.
  • Amnesty would also exacerbate the already alarming erosion of America’s middle class, as former illegal aliens would be eligible to compete legally for all U.S. jobs and petition for millions more similarly skilled relatives to join them here.
  • The American people are seeking a new direction in the long simmering debate over immigration.
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