Mind Matters Natural and Artificial Intelligence News and Analysis

CategoryBusiness and Finance

hipster-breakfast-at-home-stockpack-adobe-stock
Hipster breakfast at home
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post
Author
Jeffrey Funk
Date
November 7, 2022
Categorized
Artificial Intelligence, Business and Finance, Economics
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Tech bubble? Our Progress Towards Value to Users Has Slowed…

We should be wary of glowing forecasts when newer technologies don’t offer anywhere near as large benefits
Jeffrey Funk
November 7, 2022
8
Artificial Intelligence, Business and Finance, Economics

Today’s new technologies, from virtual reality to nuclear fusion have recently received record investments from venture capitalists, but their revenues are not growing as fast as technologies of past decades. Startup losses are unprecedented — far larger than in past decades. Share prices and private valuations have also been collapsing in 2022. Optimists mostly focus on the good news and ignore these facts. They believe that the heavy funding for these new technologies is a good measure of potential and thus any criticism is unjustified. Here is their typical argument: Paul Krugman and other “experts” criticized the Internet, personal computers, and other technologies in their early years. But these technologies succeeded. Therefore, criticisms of the new technologies are unfounded — Read More ›

Office colleagues using digital devices during meeting, consulting internet
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post
Author
News
Date
October 26, 2022
Categorized
Business and Finance, Censorship, Social Media
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Control of Social Media: Changes in the Lineup

Not just Elon Musk but Ye West, Peter Thiel, and J.D. Vance have their hats in the ring
News
October 26, 2022
5
Business and Finance, Censorship, Social Media

The social media field is seeing a wave of insurgents — not because it is profitable (it largely isn’t, just now) but perhaps because control is important for other purposes. Of course, whether we want to or not, we must begin with Musk and Twitter. Tech entrepreneur Elon Musk must now acquire Twitter by October 28 or the whole thing goes back to trial in a Delaware court, where the judiciary will likely be peeved with him over antics that waste court time. The only people who are really unhappy now are Twitter employees. Musk announced an intention to lay off 75% of them and they have responded with an open letter: The letter demands that Musk commits to preserving Read More ›

e-commerce-stockpack-adobe-stock
e-commerce
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post
Author
News
Date
October 18, 2022
Categorized
Business and Finance, Censorship
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PayPal Can Still Fine Its Users $2500 for Wrongthink

It’s possible that PayPal is morphing into something like a church-based credit union, where certain beliefs and behavior are expected of customers
News
October 18, 2022
3
Business and Finance, Censorship

As word of PayPal’s leaked proposal to charge users $2500 for spreading “misinformation” spread last week, the e-commerce system quickly disavowed it. They were wise. Federal Communications Commissioner Brendan Carr described the proposal as “Orwellian.” Thousands sought out search terms around the concept of cancelling PayPal. Such a nice story; if only it ended there. Lesson learned and we all go home. But some caution, not so fast. Other things the Terms of Service (TOS) still says should also set users thinking: As it turns out, PayPal has in place another dystopian financial censorship policy that enacts similar fines for those it deems bigots or hatemongers. Law professor Eugene Volokh exposed the PayPal policy, which again authorizes $2,500 fines (taken Read More ›

stock-trader-sleeping-at-multiple-computers-desk-stockpack-adobe-stock
Stock Trader Sleeping At Multiple Computer's Desk
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post
Author
Gary Smith
Date
October 17, 2022
Categorized
Business and Finance, Economics, Mathematics
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More Hard Math Does Not Necessarily Mean More Useful Solutions

It is sometimes tempting to overemphasize the math and underemphasize the relevance
Gary Smith
October 17, 2022
7
Business and Finance, Economics, Mathematics

Math is said to be the language of science in that most (but definitely not all) scientific models of the world involve mathematical equations. The Pythagorean theorem, the normal distribution, Einstein’s energy-mass equivalence, Newton’s second law of motion, Newton’s universal law of gravitation, Planck’s equation. How could any of these remarkable models be expressed without math? Unfortunately, it is sometimes tempting to overemphasize the math and underemphasize the relevance. The brilliance of the models listed above lies not in mathematical pyrotechnics but, if anything, in their breath-taking simplicity. Useful models help us understand the world and make reliable predictions. Math for the sake of math does neither. Examples of mindless math are legion. I will give three very different examples. Read More ›

gavel-and-dollars-banknotes-on-table-stockpack-adobe-stock
Gavel and dollars banknotes on table
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post
Author
News
Date
October 10, 2022
Categorized
Business and Finance, Censorship
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Can PayPal Really Fine You $2500 for “Misinformation”?

Does the firm hope to grow rich off “fines” for Incorrect opinions? This episode will do nothing to allay suspicions
News
October 10, 2022
4
Business and Finance, Censorship

Update: PayPal Value Down $6 Billion, ‘Delete PayPal’ Searches Soar 1,300% After Daily Wire Report Exposes ‘Misinformation’ Policy In an unusual sequence of events, PayPal announced the proposal: A new policy update from PayPal will permit the firm to sanction users who advance purported “misinformation” or present risks to user “wellbeing” with fines of up to $2,500 per offense. The financial services company, which has repeatedly deplatformed organizations and individual commentators for their political views, will expand its “existing list of prohibited activities” on November 3. Among the changes are prohibitions on “the sending, posting, or publication of any messages, content, or materials” that “promote misinformation” or “present a risk to user safety or wellbeing.” Users are also barred from “the Read More ›

senior-woman-is-receiving-post-from-an-futuristic-robotic-delivery-service-stockpack-adobe-stock
senior woman is receiving post from an futuristic robotic delivery service
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post
Author
News
Date
October 10, 2022
Categorized
Business and Finance, Machine Learning, Robotics
Tagged

Amazon Abandons Robot Home Delivery Service

Scout is in mothballs. We are told that “the program did not completely meet its customers' needs.”
News
October 10, 2022
3
Business and Finance, Machine Learning, Robotics

Delivery folks, don’t quit your jobs yet: Oct 6 (Reuters) – Amazon.com Inc (AMZN.O) will stop live tests of its automated delivery robot “Amazon Scout”, a company spokesperson said in an emailed statement on Thursday, after the U.S. retailer realized the program did not completely meet its customers’ needs. The company is now scaling back or “reorienting” the program, and it will work with the involved employees to match them to other open roles within the organization, Amazon spokesperson Alisa Carroll said, adding that it was not abandoning the project altogether. Technology, “Amazon abandons live tests of Scout home delivery robot” at Reuters (October 6, 2022) Amazon insists that it is not abandoning the idea. But problems with the model Read More ›

twitter-man-business-stockpack-adobe-stock
Twitter, man, business.
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post
Author
News
Date
October 5, 2022
Categorized
Business and Finance, Censorship, Social Media
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Musk and Twitter? The Babylon Bee Nailed It a While Back

After months-long strife, Musk offers full price for Twitter — for now. The drama continues to be free to view
News
October 5, 2022
4
Business and Finance, Censorship, Social Media

We would not have credited even Elon Musk with his sudden decision to buy Twitter for the full price after months of legal proceedings during which he said he didn’t want it at all but Twitter, which hates him, was forcing him to buy it anyway. Not a rumor: Tesla Motors CEO Elon Musk confirmed his intention to purchase Twitter, according to a new Securities and Exchange Commission (SEC) filing on Monday. “[W]e write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement,” Musk’s lawyers stated in a letter filed with the SEC. Andrew Moran, “Elon Musk Confirms Intention to Buy Twitter, SEC Filing Shows” at Read More ›

woman-reading-online-news-on-digital-tablet-stockpack-adobe-stock
Woman reading online news on digital tablet
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post
Author
Denyse O'Leary
Date
October 3, 2022
Categorized
Business and Finance, Media
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E-Books: What’s To Know About a New Way To Read

The electronic books might appeal to people with more interests than space to store stuff
Denyse O'Leary
October 3, 2022
3
Business and Finance, Media

E-books, books you can read on your computer, are becoming an ever-bigger presence in the market. MarketWatch currently wants nearly US$6000 to tell your company the market share forecast. They now make up 21% of book sales. Clearly, e-books would appeal to people who have more interests and ideas than they have space to store stuff. According to MarketWatch, the market is growing by roughly 20% a year. One source describes it like this: The global eBook market is being driven by technological advancements and the sophistication of reading devices that provide an experience similar to reading a physical book. The increased use of smartphones and the multilingual capabilities are predicted to boost global demand for eBooks. “eBook Market Overview Read More ›

Old image of Mordor
Barad-dur, Mordor
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post
Author
Peter Biles
Date
October 1, 2022
Categorized
Arts & Culture, Business and Finance
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Tolkien’s for Sale

Commercializing the beloved epic fantasy comes at a cost
Peter Biles
October 1, 2022
4
Arts & Culture, Business and Finance

What happens when a beloved fantasy world, once respected and celebrated because it soared above the surrounding fray of decadent literature and art, becomes mainstream? What if the very work that was intended to transcend consumerism becomes the object of mass consumption? Harley J. Sims, writing for MercatorNet, believes Amazon has diluted the characteristic beauty and depth of The Lord of the Rings for the sake of mass consumption and appeal. I’ve shared my own thoughts on the new Rings of Power show in two separate pieces (here and here) for Mind Matters already, but just to recap: the show is interesting and entertaining enough to keep watching, but it’s missing something—a moral and imaginative ingredient Tolkien articulated beautifully in Read More ›

an-advanced-cpu-printed-with-a-flag-of-usa-on-a-neon-glowing-electronic-circuit-board-illustration-of-the-concept-of-united-states-made-high-end-micro-chips-stockpack-adobe-stock
An advanced CPU printed with a flag of USA on a neon glowing electronic circuit board. Illustration of the concept of United States made high-end micro chips.
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post
Author
Heather Zeiger
Date
September 27, 2022
Categorized
Business and Finance, China, Ethics, Politics, Programming
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What Difference Has the CHIPS Act Made to the U.S. and Taiwan?

We need to first look at the broader picture of what the CHIPS Act is intended to do
Heather Zeiger
September 27, 2022
8
Business and Finance, China, Ethics, Politics, Programming

In a previous article, I discussed the semiconductor industry and Taiwan’s supremacy in manufacturing microchips, the foundry portion of the semiconductor supply chain. Now let’s look at the U.S. perspective on the semiconductor industry and its relationship to Taiwan. In order to do that, we have to talk about the CHIPS+ Act Congress passed a bipartisan bill, the CHIPS and Science Act in July, after a year of negotiations in committee. President Biden signed the act into law on August 9 and the CHIPS Act Implementation Strategy was launched on September 6 through an executive order. CHIPS, or “Creating Helpful Incentives to Produce Semiconductors,” is a $250B initiative that incentivizes businesses to bring semiconductor manufacturing, research and innovation back to Read More ›

concept-of-employee-monitoring-by-boss-stockpack-adobe-stock
Concept of employee monitoring by boss
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post
Author
News
Date
September 26, 2022
Categorized
Business and Finance, Work
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Why AI Employee Tracking Can’t Build a Great Company

Employees, knowing that an AI is tracking them, start filling in boxes instead of creating or innovating for success
News
September 26, 2022
3
Business and Finance, Work

Earlier this year, we learned about the best employee tracking software for 2022. (The Head Office can know if you went to the washroom or phoned your dog’s vet … ) Not everyone thinks that total surveillance by management is the best way to get optimum performance: But technology is not a replacement for what good managers do. They pull disparate groups of people together and build camaraderie, share a vision, grow trust, and—over time—create cohesive teams that achieve big goals. They get to know their team members individually and work carefully to set expectations, be supportive, understand context, and give feedback and direction. They take into account the nuance of uniqueness, inherent both in the person and in the Read More ›

scientists-testing-in-lab-stockpack-adobe-stock
Scientists testing in lab.
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post
Author
News
Date
September 26, 2022
Categorized
Business and Finance, Medicine and Health
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Will AI Really Change Drug Development? Not So Fast…

Jeffrey Funk and Gary N. Smith note that AI was not significant in the development of COVID vaccines. Financial incentives ruled
News
September 26, 2022
3
Business and Finance, Medicine and Health

Something to know before you invest or entertain high hopes: Jeffrey Funk and Gary Smith published a recent article in Salon that offers a free cold shower. Some realities they cite: Most of the expense of drug development is in clinical trials on human beings, which can’t be automated. Any attempt to save time or money would come at identifiable costs in accuracy. Yes, COVID vaccines were a banner achievement for speedy drug development. But AI played little or no standout role in the process: Determined to get a COVID-19 vaccine to the public before the November 3, 2020, presidential election, the U.S. government devoted $14 billion to support the pharmaceutical companies’ vaccine efforts. The government agreed to pay Pfizer Read More ›

once-more-unto-the-breach-3d-illustration-of-science-fiction-scene-with-robot-general-holding-battle-hammer-rallying-his-android-troops-under-a-stormy-dark-sky-stockpack-adobe-stock
Once more unto the breach / 3D illustration of science fiction scene with robot general holding battle hammer rallying his android troops under a stormy dark sky
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post
Author
Denyse O'Leary
Date
September 24, 2022
Categorized
Artificial Intelligence, Arts & Culture, Business and Finance, Censorship, Surveillance
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Oh, Not This Again: “AI Will Rise Up and Destroy Mankind”

The advances of AI raise a number of issues, yes. But the intelligences behind these advances are not artificial at all
Denyse O'Leary
September 24, 2022
4
Artificial Intelligence, Arts & Culture, Business and Finance, Censorship, Surveillance

A new paper from researchers at Oxford University and Google’s Deepmind prophesies that “the threat of AI is greater than previously believed. It’s so great, in fact, that artificial intelligence is likely to one day rise up and annihilate humankind … Cohen says the conditions the researchers identified show that the possibility of a threatening conclusion is stronger than in any previous publication.” (MSN, September 15, 2022) How? Why? The research paper predicted life on Earth turning into a zero-sum game between humans and the super-advanced machinery. Michael K. Cohen, a co-author of the study, spoke about their paper during an interview. In a world with infinite resources, I would be extremely uncertain about what would happen. In a world Read More ›

unicorn-stockpack-adobe-stock
unicorn
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post
Author
News
Date
September 22, 2022
Categorized
Business and Finance, Economics
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Why People Keep Investing in Cool Companies That Lose Money

If money is all that matters, a beautiful loser is still a loser,… But wait. IS money all that matters when we are buying unicorns (exciting startups)?
News
September 22, 2022
5
Business and Finance, Economics

Recently, we’ve been looking at unicorns — those tech companies that are just so Now! that, like Uber, Airbnb, and DoorDash, they are part of our everyday conversation. But as Gary Smith and Jeffrey Funk have noted, they don’t make money. And seldom or never have. For years on end. The recent downturn could mean some don’t survive. So Mind Matters News asked Dr. Funk, “Why don’t people notice, year after year, that these companies are not good investments? Is the buzzy idea more important than the financial outcome?“ Here’s what he told us: There are many ways to answer this question. My favourite answer uses Nobel Laureate Robert Shiller’s concept of irrational exuberance. Some of the following words are Read More ›

a-hand-in-disposable-latex-glove-scanning-an-orange-at-a-grocery-store-self-checkout-station-people-wearing-gloves-to-protect-themselves-from-covid-19-pandemic-stockpack-adobe-stock
A hand in disposable latex glove scanning an orange at a grocery store self-checkout station. People wearing gloves to protect themselves from covid-19 pandemic.
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post
Author
News
Date
September 21, 2022
Categorized
Business and Finance, Work
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Grocery Giant Sours on Self-Checkouts; Too Much Loss…

Wegmans checked out (for the present) when it couldn’t stem the losses — which they suffered for various reasons perhaps, not just thefts
News
September 21, 2022
3
Business and Finance, Work

Recently, we wrote about unsubstantiated accusations of shoplifting at retail self-checkouts — sometimes accompanied by attempted shakedowns. But bigger, more complex issues loom in the background: Self-checkout probably does make theft (along with false accusations of theft) — and various other reasons that unpaid-for items find their way into shopping bags — much easier. So one large retailer, Wegmans, has decided to just forget it for now: “SCAN users have told us they love the app and convenience it offers,” a Wegmans spokesperson told FOX Business in a statement. “Unfortunately, the losses we are experiencing prevent us from continuing to make it available in its current state.” The grocery chain said the app would remain shut off until it can Read More ›

unicorn-on-gold-cube-mountain-start-up-illustration-concept-of-leader-on-a-market3d-rendering-3d-illustration-stockpack-adobe-stock
unicorn on gold cube mountain . start up, illustration concept of leader on a market.3d rendering. 3d illustration.
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post
Author
News
Date
September 14, 2022
Categorized
Business and Finance, Economics
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Warning: Unicorn Stocks May Be Nearing Bankruptcy, Fire Sales

Uber, Airbnb, and DoorDash seem so lifestyle-friendly … they even became part of our vocabulary
News
September 14, 2022
3
Business and Finance, Economics

In an article today, Jeffrey Funk and Gary Smith puzzle over the way investors have “rained cash” on unprofitable companies like Uber, Airbnb, DoorDash, etc. Yes, they are icons of popular culture. No, unlike Apple and Google, they do not make money: Here are their stats from the table the authors offer: Company Founded Funds Raised Cumulative LossesUber Technologies 2009 $25.2 billion $31.7 billionAirbnb 2008 $6.0 billion $6.0 billionDoor Dash 2013 $2.5 billion $4.6 billion Only one of the 15 companies they list — including some other culture icons — has ever had a profitable quarter: Any hopeful arguments that profitability is just around the corner ring hollow when every company is at least nine years old and two are Read More ›

human-hand-is-holding-electric-car-charging-connect-to-electric-car-stockpack-adobe-stock
Human hand is holding Electric Car Charging connect to Electric car
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post
Author
News
Date
September 13, 2022
Categorized
Business and Finance, Environment, Self-Driving Cars
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Cars of the Future Will Offer “Electrifying” Rides — Guaranteed

Electric car expert Tony Posawatz will be speaking about new industry developments at COSM 2022
News
September 13, 2022
4
Business and Finance, Environment, Self-Driving Cars

After forty years in the car business, professional engineer Tony Posawatz, is optimistic about the future of electric vehicles (EVs). At Forbes, he was mooted to replace Elon Musk at Tesla in 2018. Well, one thing Posawatz would not do is jump into an expensive catfight with… Twitter. He is wholly focused on ACES, as it is called: Autonomous, Connected, Electric & Shared vehicles, as the future of private transportation. Go here to get the Early Adopter rate before September 15. Current CEO of Invictus iCAR, a consulting firm that specializes in making cars leaner, meaner, and greener, Posawatz describes himself as “known for championing award-winning products and electrifying rides.” His interests and achievements span many automotive areas: “His product/general Read More ›

Chinese microchip
Macro image of a motherboard with the inscription
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post
Author
News
Date
September 12, 2022
Categorized
Business and Finance, Economics, Environment, Ethics, Politics
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How Safe Is Our Tech If It Depends on Non-Free Nations?

Europe’s energy woes, in the wake of the Russia–Ukraine war, should spur us to take the question seriously
News
September 12, 2022
4
Business and Finance, Economics, Environment, Ethics, Politics

Keith Krach, former chairman and CEO of Docusign, the app that enables you to conveniently buy a house in Delaware while selling one in Oregon, is speaking at COSM (November 9–11 in Seattle). Docusign was of immense help during the COVID pandemic when in-person transactions were often impractical, illegal, or just impossible. Go here to get the Early Adopter rate before September 15. Krach, former Under Secretary of State and current Chairman of the Krach Institute for Tech Diplomacy at Purdue University, has been thinking a good deal about our future and new technology. He is committed to the importance of rehoming technology Americans need in the United States, as he told Fierce Electronics recently: Our adversaries, starting with the Read More ›

modern-way-of-exchange-bitcoin-is-convenient-payment-in-global-economy-market-virtual-digital-currency-and-financial-investment-trade-concept-abstract-cryptocurrency-with-gold-bitcoin-background-stockpack-adobe-stock
Modern way of exchange. Bitcoin is convenient payment in global economy market. Virtual digital currency and financial investment trade concept. Abstract cryptocurrency with gold bitcoin background..
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post
Author
News
Date
September 9, 2022
Categorized
Business and Finance, Cryptocurrency
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The futurist finance world of flash loans and hypernodes

In the cryptocurrency world, you could float a loan for ten seconds and make good money — but you and your computer must be very fast indeed
News
September 9, 2022
11
Business and Finance, Cryptocurrency

In the first part of Episode 4, “What Is Decentralized Finance?” (September 1, 2022), computer engineer Adam Goad discussed with Walter Bradley Center director (and computer engineering prof) Robert J. Marks how blockchain would decentralize finance by establishing trust and security without government regulations. Now they look at how some of the remarkable new financial instruments work. https://mindmatters.ai/wp-content/uploads/sites/2/2022/08/Mind-Matters-202-Adam-Goad-Austin-Egbert.mp3 A partial transcript, notes, and Additional Resources follow. Robert J. Marks: Before we started this recording, you mentioned something which blew my mind — flash loans. Adam Goad: A flash loan is a loan that you take out for a very short amount of time, usually a few seconds. But it can be for a very large amounts, like millions of dollars. Read More ›

set-of-red-glass-dice-isolated-on-black-background-3d-rendering-illustration-stockpack-adobe-stock
Set of red glass dice isolated on black background. 3d rendering - illustration.
Type
post
Author
Gary Smith
Date
September 5, 2022
Categorized
Business and Finance, Economics, Mathematics
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Don’t Worship Math: Numbers Don’t Equal Insight

The unwarranted assumption that investing in stocks is like rolling dice has led to some erroneous conclusions and extraordinarily conservative advice
Gary Smith
September 5, 2022
7
Business and Finance, Economics, Mathematics

My mentor, James Tobin, considered studying mathematics or law as a Harvard undergraduate but later explained that I studied economics and made it my career for two reasons. The subject was and is intellectually fascinating and challenging, particularly to someone with taste and talent for theoretical reasoning and quantitative analysis. At the same time it offered the hope, as it still does, that improved understanding could better the lot of mankind. I was an undergraduate math major (at Harvey Mudd, not Harvard) and chose economics for the much the same reasons. Mathematical theories and empirical data can be used to help us understand and improve the world. For example, during the Great Depression in the 1930s, governments everywhere had so Read More ›