Silicon Valley Techno-Utopianism

likewise stealing money is also frowned upon, whereas the wework guy got away with a billion dollars and is free to go to the coffee shop if he feels like it, he just made a very dumb company and got a japanese bank to give him infinite money, when the business failed no one went to jail

Holmes fraud is worse because lives at least hypothetically could have been at stake, except it's hard to imagine things ever would have actually reached the stage where they were.

elizabeth homles really cant be topped cause from the beginning every expert was saying her plan wasnt going to work because its just not enough blood, a hard physical reality, but she was just like no i will figure it out i will wear turtlenecks

― lag∞n, Thursday, March 28, 2024 11:13 AM (six minutes ago)

really an icon for this tbh

did a husky voice, my god, she was really doing her best

the voice thing was so wild lol

Holmes fraud is worse because lives at least hypothetically could have been at stake, except it's hard to imagine things ever would have actually reached the stage where they were.

― longtime caller, first time listener (man alive), Thursday, March 28, 2024 2:19 PM (four minutes ago) bookmarkflaglink

no theranos was actually performing blood tests and fucking them up

This was a federal sentence, he'll have to serve 85%, he's 32, he'll get out when he's 53-54.

https://bsky.app/profile/mitchellepner.bsky.social/post/3korf5o3jcb2i

apparently he's eligible for parole after 13 years

i thought 85% was standard in the feds too

some light googling is confirming this fwiw

There is no possibility of parole in federal criminal cases, but Bankman-Fried can still shave time off his 25-year sentence with good behavior.

"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.

Federal prisoners generally can earn up to 54 days of time credit a year for good behavior, which could result in an approximately 15% reduction.

Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act.

Epner says the First Step Act was billed as a civil rights measure, to help minority offenders who committed non-violent drug-trafficking offenses.

"It has turned out to be an enormous boon for white-collar criminal defendants, who are already given much lower sentences ... than drug-traffickers," Epner added.

ah ok well good luck to him

Biden can pardon him if he makes a hefty donation to the DNC

wonder if hes got any wallets he forgot about

never forget

Sequoia took down their SBF profile but the internet ensures it will live forever pic.twitter.com/0P3DWookmY

— BuccoCapital Bloke (@buccocapital) March 28, 2024

guys who control billions of dollars of capital losing their minds at the idea of buying a banana

also saying super app but then describing a banking app he couldnt even be bothered to say you can call an uber from it too, low energy

guys who control billions of dollars of capital losing their minds at the idea of buying a banana

Guys like that know that the best way to be fabulously wealthy is to insert yourself into financial transactions that involve incredibly huge amounts of money and raking off a small percentage of it, over and over again. SBF was selling them the idea of a service that would insert itself into every financial transaction on earth. Achieve that dream and you control humanity. Surprised they didn't jump out the window in an ecstatic transport.

he didnt say anything like that he just said you could buy a banana

Everyone wants to remake PayPal

It's one banana! What can it cost, ten dollars?

while ago amazon started giving out free bananas in seattle cause they were getting bad pr about taking over the city, thats what im talkin about free bananas costs zero no app needed thank you mr bezos for the banana

This Sequoia piece is so good with the benefit of hindsight.

https://web.archive.org/web/20221027180943/https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/

The math couldn’t be clearer. Very high risk multiplied by dynastic wealth trumps low risk multiplied by mere rich-guy wealth. To do the most good for the world, SBF needed to find a path on which he’d be a coin toss away from going totally bust.

I can't believe they lost their entire investment in this guy.

that shit is so funny galaxy brain isnt big enough

To maximize your expected value, you must aim for it and then march blindly forth, acting as if the fabulously lucky SBF of the future can reach into the other, parallel, universes and compensate the failson SBFs for their losses. It sounds crazy, or perhaps even selfish—but it’s not. It’s math. It follows from the principle of risk-neutrality.

See, by this logic there's a non-failson SBF universe out there which is doing awesome. Effective altruism wins again.

reality: they are morons in ALL the universes, that’s the singularity they keep talking about

What’s the most you ever lost on a coin toss

“As soon as you say, ‘What are the odds that there’s a way to be infinitely happy? What if infinite utility is a possibility? Now, all of a sudden, we’re comparing hierarchies of infinity. Linearity breaks down.”

lolololol

pic.twitter.com/gc1Um92EGD

— Dan Davies (@dsquareddigest) April 2, 2024

“Usually the depth of the downturn is in proportion to the magnitude of the bubble, which would imply we’re in for a brutal time.”

Venture Capital reckons with the end of the “megafund” erahttps://t.co/qI1SXfBXc4?

— George Hammond (@GeorgeNHammond) April 3, 2024

hmm. I wouldn't have guessed you followed the 'Financial Times'. Do you trust them?

Like the WSJ, the FT's reporting is pretty reliable and high quality, within its certain lane

ChatGPT hallucinates. Self-driving cars crash. Amazon is abandonning its 'just walk out' checkouts.

What if AI is overhyped? https://t.co/vgHyGf6lvn

— Henry Mance (@henrymance) April 6, 2024

Aside from the obvious ‘fuck this guy forever’ who looks at Neom and thinks “this will definitely happen and be a rousing success”?

Bill Ackman dreams of turning Gaza into another Neom https://t.co/YchbOfx02T pic.twitter.com/eNmEZ0r1G6

— kelly p. (@k_pendergrast) April 6, 2024

i love high-level thoughts

"ruled by a consortium of Gulf States and the US" wtf?????

Stakeholders and shareholders

Given what I know of him I'm surprised to find him taking a position on Gaza that would be considered unacceptably left-wing and Jew-hating by a lot of rightist commentators (and indeed, there they are in the replies, accusing him of being left-wing and enabling Jew-haters because he dares to imagine Gazans continuing to live in Gaza and to suggest there is a deficit of hope in their current status.)

Here is where neom is at.

80% downgrade…McKinsey’s where to next? pic.twitter.com/yhvXis1UT0

— Rupak (@ghose77) April 5, 2024

Ok just learning about Neom and lol

it seemed like such a good plan

Maybe what Ackman meant by "Think the Saudi neom.com but on the Mediterranean" was "a plan announced with great fanfare and promises of massive financial backing by the sheikhs, which will inevitably be mostly abandoned and the parts not abandoned downgraded, once the spotlight of the world has moved on"

I always find it baffling that these people seem to genuinely think these techno-utopian ideas can work. Who would fund such a thing? Who would run it? Why would it work in a small, cut off, impoverished area that has been ravaged by war? If something like that is a workable idea, why hasn't it already been built somewhere where it would be much easier and less challenging to build? It's like saying "we'll revitalize Gaza with flying cars." No one else has flying cars. They're not workable anywhere else on the planet. Why would they make sense in Gaza?

It's sort of like all those democrat "let's just teach the coal miners to code" type initiatives. How are you going to do that? Why would west virginia or east kentucky be a logical place to build a tech hub? Or all those ideas to build a crypto utopia on some island. Why does that idea actually make sense other than you have a lot of money and you want it to happen? Like they think capital can just build anything anywhere and make it work. Like let's just make South Sudan into the AI capital of Africa while we're at it - it barely has a modern economy or infrastructure, it's struggling with war and starvation, but you can achieve anything if you put your mind to it.

the whole “learn to code -> ??? -> profit!” thing is such blatant patronizing insufficient nonsense

this one even for the genre is particularly ridiculous, what if instead of genocide utopia, as if the entities doing genocide are going to be like hey yeah good idea well just do the opposite

The coding one is particularly fatuous given the number of companies who don’t need to have staff in a colocated office who are forcing staff to commute to a colocated office.

Not even Peter Thiel could make seasteading work.

from the neom wikipedia page:

"Salman's vision for the city incorporates some technologies that do not currently exist, such as flying cars, robot maids, dinosaur robots, and a giant artificial moon."

People are being displaced and murdered for this.

story of the internal politics behind the decline of google search

In the March 2019 core update to search, which happened about a week before the end of the code yellow, was expected to be “one of the largest updates to search in a very long time. Yet when it launched, many found that the update mostly rolled back changes, and traffic was increasing to sites that had previously been suppressed by Google Search’s “Penguin” update from 2012 that specifically targeted spammy search results, as well as those hit by an update from an August 1, 2018, a few months after Gomes became Head of Search.

https://www.wheresyoured.at/the-men-who-killed-google/

Making sure this doesn't just stay on the Perlstein thread:

https://prospect.org/power/2024-04-24-my-dinner-with-andreessen/

I KNEW FROM THE NEW YORKER THAT ANDREESSEN had grown up in an impoverished agricultural small town in Wisconsin, and despised it. But I certainly was not prepared for his vituperation on the subject. He made it clear that people who chose not to leave such places deserved whatever impoverishment, cultural and political neglect, and alienation they suffered.

It’s a libertarian commonplace, a version of their pinched vision of why the market and only the market is the truly legitimate response to oppressive conditions on the job: If you don’t like it, you can leave. If you don’t, what you suffer is your own fault.

I brought up the ordinary comforts of kinship, friendship, craft, memory, legend, lore, skills passed down across generations, and other benefits that small towns provide: things that make human beings human beings. I pointed out that there must be something in the kind of places he grew up in worth preserving. I dared venture that it is always worth mourning when a venerable human community passes from the Earth; that maybe people are more than just figures finding their proper price on the balance sheet of life …

And that’s when the man in the castle with the seven fireplaces said it.

“I’m glad there’s OxyContin and video games to keep those people quiet.”

I’m taking the liberty of putting it in quotation marks, though I can’t be sure those were his exact words. Marc, if you’re reading, feel free to get in touch and refresh my memory. Maybe he said “quiescent,” or “docile,” or maybe “powerless.” Something, certainly, along those lines.

He was joking, sort of; but he was serious—definitely. “Kidding on the square,” jokes like those are called. All that talk about human potential and morality, and this man afire to reorder life as we know it jokingly welcomes chemical enslavement of those he grew up with, for the sin of not being as clever and ambitious as he.