nswd

Man: Doctor, I’m depressed. Life seems harsh and cruel, and I feel all alone. Doctor: Treatment is simple. Go see Pagliacci the Clown, he’s in town tonight. Man: But Doctor, YOU’RE Pagliacci. Doctor: Can I put you down for four tickets?

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Every day, the same, again

52.jpgFacial recognition designed to detect around face masks is failing, study finds

A computer scientist is suing the Patent Office for deciding an AI can’t invent things

The Wildest Insurance Fraud Scheme Texas Has Ever Seen — Over a decade, Theodore Robert Wright III destroyed cars, yachts, and planes. That was only the half of it.

“There is no such thing as cheap food—there is a consequence. Something has been compromised to give you that product”

Two metres or one: what is the evidence for physical distancing in covid-19?

Ten countries [islands] kept out Covid

Salivary Detection of COVID-19 + how saliva specimens compare with nasopharyngeal swab specimens

Please remain calm while the robot swabs your nose

Zuckerberg made the case to President Donald Trump that the rise of Chinese internet companies threatens American business, and should be a bigger concern than reining in Facebook, some of the people said.

Taxicab Geometry as a Vehicle for the Journey Toward Enlightenment [PDF]

Uber vomit fraud

There Are Only 37 Possible Stories, According to This 1919 Manual for Screenwriters

Memory and the Unity of the Imagination

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Books are horrible at teaching. So are lectures. So are documentaries. If to teach means to impart lasting knowledge, then our current educational media are lousy teachers. We encounter thousands of concepts a year, yet the vast majority fades from our memory into the ether, never to be held again. We forget. […]

We also forget information at an exponentially decaying rate; more than half of what we process is gone within the first 20 minutes. This means that we need several prompts to make persistent memories. (For more on memory failure modes, see Schachter’s Seven Sins of Memory.). […]

What are some dimensions to consider if we want machines to augment our ability to remember?

{ Machines + Society | Continue reading }

That’s a fair thought, to lie between maids’ legs

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Frequency of pornography use is associated with *lower* sexual problems, but problematic pornography use predicts more problems

https://pubmed.ncbi.nlm.nih.gov/32810799/

It’s a problem but only when it’s problematic.

{ Neuroskeptic | Continue reading }

An experimental submarine, the ‘Siren II,’ is sent to find out what happened to the missing ‘Siren I’

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Researchers in Hong Kong are reporting the first confirmed case of reinfection with the coronavirus.

“An apparently young and healthy patient had a second case of Covid-19 infection which was diagnosed 4.5 months after the first episode,” University of Hong Kong researchers said Monday in a statement.

The report is of concern because it suggests that immunity to the coronavirus may last only a few months.

The 33-year-old man had only mild symptoms the first time, and no symptoms this time around. The reinfection was discovered when he returned from a trip to Spain, the researchers said, and the virus they sequenced closely matched the strain circulating in Europe in July and August.

“Our results prove that his second infection is caused by a new virus that he acquired recently rather than prolonged viral shedding,” said Dr. Kelvin Kai-Wang To, a clinical microbiologist at the University of Hong Kong.

Doctors have reported several cases of presumed reinfection in the United States and elsewhere, but none of those cases have been confirmed with rigorous testing. Recovered people are known to shed viral fragments for weeks, which can cause tests to show a positive result in the absence of live virus.

But the Hong Kong researchers sequenced the virus from both rounds of infection and found significant differences in the two sets of virus, suggesting that the patient was infected a second time.

{ NY Times | Continue reading }

Some people can get the pandemic virus twice, a study suggests. That is no reason to panic. […]

Even if the finding settles the question of whether people can be reinfected with the pandemic virus, it raises many additional questions: How often does this happen? Do people have milder infections, or no symptoms at all, the second time around? Can they still infect others? If natural infection does not always confer solid protection, will that be true for vaccines as well?

{ Nature | Continue reading }

Every day, the same, again

48.jpg 750 million genetically engineered mosquitoes approved for release in Florida Keys

Researchers have demonstrated that they can make a working 3D-printed copy of a key just by listening to how the key sounds when inserted into a lock. And you don’t need a fancy mic — a smartphone or smart doorbell will do nicely if you can get it close enough to the lock.

The underlying purpose of this essay is less about the coronavirus per se and more about how having a small—but functionally complete— piece of viral RNA to analyze gives me a unique opportunity to try to understand a complete self-replicating machine from scratch

A coronavirus mutation is tied to less severe illness None of the 29 people whose viruses had the mutation needed supplemental oxygen, but 26 of the 92 people whose viruses lacked the mutation did. More: The ∆382 variant of SARS-CoV-2 seems to be associated with a milder infection

Getting an antibody test to see if you had Covid-19 months ago is pointless, according to guidelines issued this week by a major medical society. Many tests are inaccurate, some look for the wrong antibodies and even the right antibodies fade away, said experts at the Infectious Diseases Society of America, which issued the new guidelines. Because current tests cannot determine if someone is immune, the society said, they “cannot inform decisions to discontinue physical distancing or lessen the use of personal protective equipment.” […] Despite the flaws of antibody tests, recent studies of patients who definitely were infected suggest that they have long-lasting immunity and that it is very unlikely they will get reinfected. That may be because white blood cells known as B and T cells, which are “primed” to recognize and attack the coronavirus, remain in circulation long after antibodies have faded away. But B and T cells are not analyzed by common antibody tests. [NY Times]

assuming everyone is wearing a mask — the risk of catching the virus on a full flight is just 1 in 4,300. Those odds fall to 1 in 7,700 if the middle seat is vacant.

Face Masks and GDP

Callers posing as COVID-19 contact tracers are trying to pry credit card or bank account information from unsuspecting victims

Recently, scientists discovered bacteria that had been buried beneath the ocean floor for more than a hundred million years and was still alive. What would change if we could live for even just a million years?

We conducted a 10-year study in which we assembled a data set of more than 17,000 C-suite executive assessments and studied 2,600 in-depth to analyze who gets to the top and how. We then took a closer look at “CEO sprinters” — those who reached the CEO role faster than the average of 24 years from their first job. We discovered a striking finding: Sprinters don’t accelerate to the top by acquiring the perfect pedigree. They do it by making bold career moves over the course of their career that catapult them to the top. We found that three types of career catapults were most common among the sprinters. [Harvard Business Review]

Can Robots Keep Humans from Abusing Other Robots?

The Case of the Top Secret iPod

Gigapixel AI Accidentally Added Ryan Gosling’s Face to This Photo

GPT-3 is an artificial intelligence that has been fed all the text on the internet

Elf Surveillance Santa Camera - Dummy CCTV Camera - Simply attach the camera in your child’s room and have them really thinking that Elfie is watching their behaviour

Nor is there any void, for void is nothing, and nothing cannot be

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Blockchain technology is going to change everything: the shipping industry, the financial system, government … in fact, what won’t it change? But enthusiasm for it mainly stems from a lack of knowledge and understanding. The blockchain is a solution in search of a problem. […]

Once something is in the blockchain, it cannot be removed. For instance, hundreds of links to child pornography and revenge porn were placed in the bitcoin blockchain by malicious users. It’s impossible to remove those.

Also, in a blockchain you aren’t anonymous, but “pseudonymous”: your identity is linked to a number, and if someone can link your name to that number, you’re screwed. Everything you got up to on that blockchain is visible to everyone. 

The presumed hackers of Hillary Clinton’s email were caught, for instance, because their identity could be linked to bitcoin transactions. A number of researchers from Qatar University were able to ascertain the identities of tens of thousands of bitcoin users fairly easily through social networking sites. Other researchers showed how you can de-anonymise many more people through trackers on shopping websites.

The fact that no one is in charge and nothing can be modified also means that mistakes cannot be corrected. A bank can reverse a payment request. This is impossible for bitcoin and other cryptocurrencies. So anything that has been stolen will stay stolen. There is a continuous stream of hackers targeting bitcoin exchanges and users, and fraudsters launching investment vehicles that are in fact pyramid schemes. According to estimates, nearly 15% of all bitcoin has been stolen at some point. And it isn’t even 10 years old yet.

And then there’s the environmental problem. The environmental problem? Aren’t we talking about digital coins? Yes, which makes it even stranger. Solving all those complex puzzles requires a huge amount of energy. So much energy that the two biggest blockchains in the world – bitcoin and Ethereum – are now using up the same amount of electricity as the whole of Austria.

Carrying out a payment with Visa requires about 0.002 kilowatt-hours; the same payment with bitcoin uses up 906 kilowatt-hours, more than half a million times as much, and enough to power a two-person household for about three months. […]

And for what? This is actually the most important question: what problem does blockchain actually solve? OK, so with bitcoin, banks can’t just remove money from your account at their own discretion. But does this really happen? I have never heard of a bank simply taking money from someone’s account. If a bank did something like that, they would be hauled into court in no time and lose their license. Technically it’s possible; legally, it’s a death sentence. 

{ The Correspondent | Continue reading }

acrylic, fluorescent acrylic and Roll-a-Tex on canvas { Peter Halley, Iss, 2019 }

‘To succeed in the world we do everything we can to appear successful already.’ –La Rochefoucauld

Self-promotion is common in everyday life. Yet, across 8 studies (N = 1,687) examining a broad range of personal and professional successes, we find that individuals often hide their successes from others and that such hiding has relational costs. […]

Whereas previous research highlights the negative consequences of sharing one’s accomplishments with others, we find that sharing is superior to hiding for maintaining one’s relationships.

{ Journal of Personality and Social Psychology | Continue reading }

When a liar gets caught in a lie, they don’t come clean. They build a bigger lie.

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signs of dishonesty decreased trust but only in those who had not previously built a good reputation as honest partners.

On the contrary, those who could establish a good reputation were trusted even when they were no longer trustworthy, suggesting that participants could not successfully track changes in trustworthiness of those with an established good reputation.

{ Journal of Experimental Psychology | Continue reading }

lithograph { Ellsworth Kelly, Blue Curve, 2013 }

‘And the state of (gestures at everything) *this* is not helping lol.’ –britney gil

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Some luxury brands have started adding surveillance to their arsenal, turning to blockchains to undermine the emergence of secondary markets in a way that pays lip service to sustainability and labor ethics concerns. LVMH launched Aura in 2019, a blockchain-enabled platform for authenticating products from the Louis Vuitton, Christian Dior, Marc Jacobs, and Fenty brands, among others. Meanwhile, fashion label Stella McCartney began a transparency and data-monitoring partnership with Google for tracking garment provenance, discouraging fakes and promising to ensure the ethical integrity of supply chains. Elsewhere, a host of fashion blockchain startups, including Loomia, Vechain, and Faizod, have emerged, offering tracking technologies to assuage customer concerns over poor labor conditions and manufacturing-related pollution by providing transparency on precisely where products are made and by which subcontractors. […]

Companies such as Arianee, Dentsu and Evrythng also aim to track clothes on consumers’ bodies and in their closets. At the forefront of this trend is Eon, which with backing from Microsoft and buy-in from mainstream fashion brands such as H&M and Target, has begun rolling out the embedding of small, unobtrusive RFID tags — currently used for everything from tracking inventory to runners on a marathon course — in garments designed to transmit data without human intervention. […]

According to the future depicted by Eon and its partners, garments would become datafied brand assets administering access to surveillance-enabled services, benefits, and experiences. The people who put on these clothes would become “users” rather than wearers. In some respects, this would simply extend some of the functionality of niche wearables to garments in general. Think: swimsuits able to detect UV light and prevent overexposure to the sun, yoga pants that prompt the wearer to hold the right pose, socks that monitor for disease risks, and fitness trackers embedded into sports shirts. […]

According to one potential scenario outlined by Eon partners, a running shoe could send a stream of usage data to the manufacturer so that it could notify the consumer when the shoe “nears the end of its life.” In another, sensors would determine when a garment needs repairing and trigger an online auction among competing menders. Finally, according to another, sensors syncing with smart mirrors would offer style advice and personalized advertising.

{ Real Life | Continue reading }

related { Much of the fashion industry has buckled under the weight of the coronavirus — it appears to have sped up the inevitable }

The operation was a success, but the patient died

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Currently, we produce ∼1021 digital bits of information annually on Earth. Assuming a 20% annual growth rate, we estimate that after ∼350 years from now, the number of bits produced will exceed the number of all atoms on Earth, ∼1050. After ∼300 years, the power required to sustain this digital production will exceed 18.5 × 1015 W, i.e., the total planetary power consumption today, and after ∼500 years from now, the digital content will account for more than half Earth’s mass, according to the mass-energy–information equivalence principle. Besides the existing global challenges such as climate, environment, population, food, health, energy, and security, our estimates point to another singular event for our planet, called information catastrophe.

{ AIP Advances | Continue reading }

It is estimated that a week’s worth of the New York Times contains more information than a person was likely to come across in a lifetime in the 18th century. […] The amount of new information is doubling every two years. By 2010, it’s predicted to double every 72 hours. […] The lunatic named Bobby Fisher “despised the media”: “They’re destroying reality, turning everything into media.” “News exceed reality” writes Thomas Bernhard somewhere. The saturation and repetitions in Basquiat’s paintings. The high-frequency trading. “an immense accumulation of nothing“ (Imp Kerr, 2009). An immense accumulation of ignorance. […,]

From what precedes it necessarily follows that the inescapable future of knowledge is banality, falsehood, and overabundance, which sum is a form of ignorance.

{ The New Inquiry | Continue reading }

Every day, the same, again

6.jpgLego piece falls out of New Zealand boy’s nose after being stuck for two years

Berlin brothels reopen after lockdown, but no sex allowed

Liking a painting increased the ability to recall on which wall the painting was hung. Since recalling the wall requires recalling heading direction, this finding suggests positive aesthetic experience enhances first-person spatial representations.

Rocking together: Dynamics of intentional and unintentional interpersonal coordination [PDF]

Population immunity is slowing down the pandemic in parts of the US

Making a Covid-19 Vaccine Is Hard. Making One for Kids Is Harder.

The Strange Theory of Coronavirus from Space

Hertz Global Holdings Inc. ran into a lot of trouble (nobody renting cars during a pandemic, used-car values declining and triggering margin calls on its used-car securitization, etc.) and filed for bankruptcy. Instead of trading down to zero, as you might expect (bankruptcy tends to zero stocks), the stock traded up, on heavy volume, due to retail day-trader enthusiasm and the general mystery of financial markets in 2020. Hertz was like, okay, well, if people really want to buy Hertz stock, we have Hertz stock, we should sell them some. Hertz went to the bankruptcy judge and said that. “There are forces at work that us non-financial people, that we can only observe,” they told her. She had no objections. On the morning of Monday, June 15, Hertz filed a prospectus announcing that it would sell up to $500 million of stock in an “at the market” (“ATM”) offering, meaning that Hertz’s bank (Jefferies) would just sell the shares on the stock exchange from time to time; if you bought stock, you’d have no way of knowing if you were buying it from Hertz or from one of the many other people who were selling Hertz stock. Of course the stock was probably worthless, as Hertz said in the prospectus. […] Hertz Global Holdings Inc. raised $29 million selling its likely worthless stock before regulators dissuaded the bankrupt rental-car company from selling more.

Was Shakespeare a Woman?

PAINTINGS OF CATS WITH PANCAKES ON THEIR HEADS

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galaxy brain

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according to its own IPO filings, Uber can only be profitable if it invents fully autonomous vehicles and replaces every public transit ride in the world with them.

[…]

Elon Musk - a man whose “green electric car company” is only profitable thanks to the carbon credits it sells to manufacturers of the dirtiest SUVs in America, without which those planet-killing SUVs would not exist - makes the same mistake. Musk wants to abolish public transit and replace it with EVs […]

Now, both Uber and Musk are both wrong as a matter of simple geometry. Multiply the space occupied by all those AVs by the journeys people in cities need to make by the additional distances of those journeys if we need road for all those cars, and you run out of space.

{ Cory Doctorow | Continue reading }

related { In this work of speculative fiction author Cory Doctorow takes us into a near future where the roads are solely populated by self-driving cars. }

related { Why Uber Still Can’t Make a Profit }

aluminum, acrylic paint, and LCD screen, sound { Tony Oursler [ s~iO. ], 2017 }

In type 1 immunity, pathogen clearance is mediated through effector cells including group 1 innate lymphocytes (ILC1), natural killer (NK) cells, cytotoxic T lymphocytes, and T helper 1 (TH1) cells

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It is clear from this and other studies that the immune response in hospitalized patients with severe COVID-19 is characterized by lymphopenia and the expression of molecules associated with ongoing inflammation8, whereas these same molecules are expressed at a lower level in people with mild or moderate disease. Differences in immune responses between the different categories of disease severity are even more evident when people with very mild or subclinical disease are included in the analyses.

A key next step will be to analyse samples from people with extremely early signs of COVID-19, and to compare longitudinal data in those who do and those who don’t require hospitalization. Some people who develop severe disease seem to have a suboptimal immune response initially, which might allow uncontrolled viral replication. Such high replication might, in turn, contribute to severe disease.

{ Nature | Continue reading }

related { Efforts are ongoing to find which human or viral factors underpin whether a person with COVID-19 will develop severe symptoms. Clinical evidence linked to two viral lineages now provides key insights into this enigma. | Nature }

quote { Longitudinal analyses reveal immunological misfiring in severe COVID-19 }

‘All the police are going to get me for is running a funeral parlor without a license.’ — John Wayne Gacy

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$350,000 […] connected to the home is a 2500 sq ft legitimate jail with 9 cells, booking room and 1/2 bath.

{ flexmls | Continue reading }

Snow White: You’re Sleepy! Sleepy: [Yawning] How’d you guess?

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Human sleep is largely a mystery. We know it’s important; getting too little is linked to heightened risk for metabolic disorders, Type 2 diabetes, psychiatric disorders, autoimmune disease, neurodegeneration and many types of cancer. “It’s probably true that bad sleep leads to increased risks of virtually every disorder,” says Dr. Louis Ptacek, a neurology professor at the University of California, San Francisco (UCSF). But details about what’s actually going on during shut-eye are sparse. “We know almost nothing about sleep and how it’s regulated,” says Ptacek.

Some people are morning larks, rising early, and others are night owls, who like staying up late. Those patterns are regulated by the body’s circadian rhythm, a 24-hour internal clock. People can manipulate their circadian rhythm through all kinds of external factors, like setting an alarm clock or exposing themselves to light. But the ideal sleep duration has long been thought to be universal. “There are many people who think everyone needs eight to eight and a half hours of sleep per night and there will be health consequences if they don’t get it,” says Ptacek. “But that’s as crazy as saying everybody has to be 5 ft. 10 in. tall. It’s just not true.” […]

“Hopefully in the next five to 10 years, you’d go to the doctor, give a breath test or a pee sample, and the doctor would know your biological time,” he says. “Then all your test results and treatments could be based on your real internal time, which is going to be very different between you and me based on our internal clocks.”

{ Time | Continue reading }

Every day, the same, again

32.jpgHusband discovers wife’s affair after spotting her in the act on Google Maps

a new ocean will form in Africa as the continent continues to split into two

Bald eagle attacks government drone and sends it to bottom of Lake Michigan

Scientists rename human genes to stop Microsoft Excel from misreading them as dates

Painting Eyes on The Butts of Cattle Can Protect Them From Lions, Research Shows

A billionaire art collector is commissioning a $1.5 million diamond-encrusted, 18 carat gold, face mask

Thieves are making a fortune from stealing used cardboard that’s been left out to be recycled, and selling it on.

Should We Conserve Parasites? Apparently, Yes

Consumers prefer older drugs

AI invents new ‘recipes’ for potential COVID-19 drugs

herd immunity could happen with as little as one quarter of the population of a community exposed — or perhaps just 20 percent. […] well, it almost certainly does not, considering that recent serological surveys have shown that perhaps 93 percent of the population of Iquitos, Peru, has contracted the disease. […] and as many as 68 percent in particular neighborhoods of New York City. […] a handful of studies have found that a quite significant number of people unexposed to the coronavirus nevertheless exhibited what are called “cross-reactive” T-cell immune responses to the disease. In other words, you didn’t necessarily need to catch COVID-19 for your T-cells to know how to fight it, because previous exposure to similar coronaviruses (chiefly the common cold) had already taught your immune systems how to respond to this one. […] At least 20 percent of the public, and perhaps 50 percent, had some preexisting, cross-protective T-cell response to SARS-CoV-2, according to one much-discussed recent paper. An earlier paper had put the figure at between 40 and 60 percent. And a third had found an even higher prevalence: 81 percent. […] According to [Francois Balloux], a cross-reactive T-cell response wouldn’t prevent infection, but would probably mean a faster immune response, a shorter period of infection, and a “massively” reduced risk of severe illness. […] T-cell cross-immunity, Eric Topol said, “is very likely playing a significant role. Why are some people asymptomatic? Why do some people who get the infection have such a mild response — so mild they hardly get sick? Is it because of the T-cell activation? I think it’s part of this story. It may even be the main explanation of why people never develop symptoms, or why they might have such mild symptoms. [NY mag]

The Coronavirus May Mess With Thyroid Levels, Too

This coronavirus is here for the long haul — here’s what scientists predict for the next months and years

You might have seen reports this week that Chinese authorities said a surface sample from a batch of frozen chicken wings imported from Brazil tested positive for coronavirus. But don’t panic. Yes, the virus was detected on the food product in the Chinese city of Shenzhen, according to a statement from the municipal government. But test results for people who might have had contact with the chicken wings have so far come back negative, the statement said. [CNN]

An appliance such as a rice cooker or Instant Pot can thoroughly disinfect an N95 without degrading it. […] The dry heat produced by such electric cookers (rice cookers or multicookers such as Instant Pots) may be an effective way of decontaminating medical-grade N95 masks. Using the rice preset on the Farberware cooker and N95 respirators from 3M, a major manufacturer of the protective coverings, the researchers found that 50-minute treatments without pressure at a temperature of 212 degrees Fahrenheit left the masks thoroughly cleaned without compromising fit or filtration efficiency. [Washington Post]

Inspired by llamas’ unique antibodies, scientists create a potent anti-coronavirus molecule

An Austrian tourist is in hot water with museum officials in Italy after accidentally breaking the toes off of a 200-year-old statue while posing for a photo. According to the museum, the tourist quickly moved away from the exhibit without telling anyone […] The tourist was tracked down by police using personal information the guest had left with the museum for contact tracing in the event that a coronavirus outbreak is tied to the gallery. [Travel & Leisure | Thanks Tim]

Research has shown that boys are highly sensitive in roughly the same numbers as girls. But boys who violate cultural norms of masculinity may “suffer more shame and rejection, even violence and anger directed toward them” at school, according to Dr. Cooper. […] Sensitivity is also sometimes confused with being shy. While the majority of highly sensitive children are introverts, roughly 30 percent are extroverts, despite their tendency to get easily overstimulated in social situations. […] Like horses, highly sensitive children will tend to enter new situations more slowly. [NY Times]

Ratfucking is an American slang term for political sabotage or dirty tricks, particularly pertaining to elections

A reading list retracing the @Roland_US sound in rap, Miami bass, bounce, electro, and instrumental hip-hop.

the Pavlok is exactly what the ad suggests: a Bluetooth-connected, wearable wristband that uses accelerometers, a connected app, and a “snap circuit” to shock its users with 450 volts of electricity when they do something undesirable. The device costs $149.99 and is available on Amazon. The company says it has over 100,000 customers who use the device to help kill food cravings, quit smoking, and to stop touching their face.

Disney just ended the 20th Century Fox brand

Trump Unable To Produce Certificate Proving He’s Not A Festering Pile Of Shit

Kinopio design

If you’re not inside, you’re outside, okay?

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Mergers-and-acquisitions bankers make lists of companies that should do mergers or acquisitions, equity capital markets bankers make lists of companies that should issue stock, debt capital markets bankers make lists of companies that should issue bonds, etc. Once you have made the lists you get on planes (in normal times) and meet with the companies on the lists to explain to them why they should do mergers or issue stock or whatever. Occasionally they say “hmm you are right we should do a merger” and hire you to do the merger; then you will spend some time actually doing the merger, and you’ll get paid lots of money. But the top of the funnel consists of making lists.

You have to call them and say “hi it would help a lot with your company if you would do a merger.” For that, you need some finance. You need to say “you have a division that is underperforming and if you sold it the rest of your company would be better, so let me sell it for you and take a commission.” Or “there’s this company out there whose CEO wants to retire so you could buy it cheap and it would integrate really well with your widgets business and be accretive to earnings.” Or whatever. The list-making exercise requires some financial analysis. Not a whole ton: This is the top of the funnel, and you do not necessarily need a deep and nuanced understanding of all aspects of the company’s business and competitive landscape in order to come up with some acquisitions and divestitures it could do, though that does help. But, some financial analysis.

This can be creative interesting work, or it can be kind of sterile tedious work; in any case it tends to be unrewarding work, in the sense that if you come up with 100 possible deals and end up executing one of them that’s a pretty good hit rate. A lot of targeting begins with junior bankers making spreadsheets of companies that might be plausible targets based on some crude financial criteria; the senior bankers who have actually met with the companies whittle the spreadsheet down to the realistic targets, and then try to set up meetings with those companies to pitch ideas that still have a low probability of leading to a deal.

What if you could outsource all that work to the companies themselves? What if you built a targeting app that identifies plausible deals based on some crude financial criteria, then sent it to all the companies and said “hey maybe you should do M&A, this app will tell you, if it does then definitely give us a call.” Goldman Sachs Group Inc. has an app now.

{ Bloomberg | Continue reading }

art { Christopher Wool, Untitled, 1992 | Christopher Wool, Hole in Your Fuckin Head, 1992 }

Business as usual. In. Out. Hello. Goodbye.

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Profits from organized crime are typically passed through legitimate businesses, often exchanging hands several times and crossing borders, until there is no clear trail back to its source—a process known as money laundering.

But with many businesses closed, or seeing smaller revenue streams than usual, hiding money in plain sight by mimicking everyday financial activity became harder. “The money is still coming in but there’s nowhere to put it,” says Isabella Chase, who works on financial crime at RUSI, a UK-based defense and security think tank.

The pandemic has forced criminal gangs to come up with new ways to move money around. In turn, this has upped the stakes for anti-money laundering (AML) teams tasked with detecting suspicious financial transactions and following them back to their source. […]

According to the United Nations Office on Drugs and Crime, between 2% and 5% of global GDP—between $800 billion and $2 trillion at current figures—is laundered every year. Most goes undetected. Estimates suggest that only around 1% of profits earned by criminals is seized. […] The problem for criminals is that many of the best businesses for laundering money were also those hit hardest by the pandemic. Small shops, restaurants, bars, and clubs are favored because they are cash-heavy, which makes it easier to mix up ill-gotten gains with legal income. […]

Older systems rely on hand-crafted rules, such as that transactions over a certain amount should raise an alert. But these rules lead to many false flags and real criminal transactions get lost in the noise. More recently, machine-learning based approaches try to identify patterns of normal activity and raise flags only when outliers are detected. These are then assessed by humans, who reject or approve the alert.

This feedback can be used to tweak the AI model so that it adjusts itself over time. Some firms, including Featurespace, a firm based in the US and UK that uses machine learning to detect suspicious financial activity, and Napier, another firm that builds machine learning tools for AML, are developing hybrid approaches in which correct alerts generated by an AI can be turned into new rules that shape the overall model.  

{ Technology Review | Continue reading }

The Golden Horde’s siege of Kaffa continued through 1346, despite a number of obstacles

Use each of the numbers 1, 3, 4, and 6 exactly once with any of the four basic math operations (addition, subtraction, multiplication, and division) to total 24. Each number must be used once and only once, and you may define the order of operations; for example, 3 * (4 + 6) + 1 = 31 is valid, however incorrect, since it doesn’t total 24.

{ solution | Hacking, The art of Exploitation | PDF }



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