Meanwhile, the Alexa team is hoping to have a conversation with ChatGPT on how to successfully monetize Alexa.

The infection was already there. Anyone who'd invested in any mortgage derived securities was compromised because the underwriting and scoring process was fundamentally fraudulent. Securities are rated and, at least in theory, those ratings are supposed to reflect the degree of risk. But the scoring agencies essentially became captives of the folks minting the securities and just handed out great ratings like halloween candy.

The Fed and the money printing and all that -- concerning as it all was -- really had more to do with making sure the national banking industry and therefore the currency didn't fail. There was a moment there when it really felt like a financial 9/11... like everything could come crashing down all across the world as a result of something that happened in Manhattan.

It's just an anecdote, but I vividly remember the short-term credit markets freezing up and everyone collectively realizing that nearly every business in the country uses short term credit to manage cashflow so that they can decouple employee paychecks and infrastructure purchases from sales and client payments in terms of timing. Most people just didn't know that and, without credit to make the accounting process move fluidly, like half the country was looking down the barrel of "well, we'll pay you when we know we have money in the accounts."

It's easy to run the Fed down now, but we were one or two days away from a grim fable with an unhappy, bloody ending.

This all powerfully reminds me of the deals the big banks like Lehman Brothers and Bear Sterns struck back in 2006 and 2007. If you're too young to remember that particular shitshow, the mortgage industry was fundamentally toxic and a bunch of securities were created by mushing bad mortgages in with good ones so that the combination looked secure enough to invest in.

And then THOSE securities were subdivided up and repackaged into even more securities. And so on. And so on.

Bad debt ended up "infecting" the entire market such that it was essentially impossible to invest in "safe" mortgages and so, when the collapse happened, many of the banks found out that the bets they *thought* they were making to hedge their bets on the risky side of the housing bubble were, in fact, just MORE BETS on the risky side of the housing bubble.

At this point it's essentially impossible to invest in technology without investing in AI which means its very hard to bet against AI in the tech industry. And that feels very, very dangerous.

If you think being a CS RCG is bad, try being a 55 year old coder who spent the last 30 years honing the craft, only to be laid off into a market where those skills are just no longer needed at all.

Can't have states getting in the way

They also didn't start delving into DEI madness in 2010...neglecting the engineering to chase the "diversity" ghost

It's because it's very difficult to imagine circumstances other than what we live in. I agree with what you're saying in general but only in general. Plenty of liberals live in small towns and plenty of conservatives live in big cities.

But a LOT of liberals have only ever lived in a big city and a lot of conservatives have only ever lived in rural areas. And for those people, a move is transformative

For the conservative, the idea that government can do anything useful seems insane. But move to a big city where government services form the backbone of your water, sewer, mass transit, snow removal, etc and it's really hard to look at government and say it can't do anything right. Government somehow keeps Chicago clear of snow. Like -- really think about that. That's an ongoing and ENORMOUS project and it goes off largely without a hitch. It's difficult to see that in person and really say "government can't do anything right."

For the liberal, the opposite is true. They've spent their life surrounded by largely competent government. They move to small town America and suddenly the entire local government is run via the good-ol-boys network. Distance makes it all but impossible to actually get services to the people who need them. Taxes seem like they take a lot out of your pocket and don't put much back.

The problem is that our votes -- especially at the national level -- govern both groups.

enshittify the product, saddle it with debt, strip of parts

Yep, I had writeups from those flame wars. They *REALLY* did not want it discussed. Governors Brown and Kotek continued the pay-to-play system, which is what lost Oregon the Ohio CHIPs foundry campus (before they realized that Biden wasn't going to pay out CHIPs act at all).

All one needs to see this is to be employed at Intel in June, when every single monitor becomes rainbows and the rainbow flag flies on campus every month.

Not to mention the millions spent on DEI hiring of marginal people based only on demographics.

He did, on the promise of the Biden CHIPs act money- the employees ballooned to 145,000 worldwide by October 2022.

Due to CHIPs act not coming through as planned, in December 2022 they started rounds of layoffs, which Lu Tan is continuing

That's because the project's value is political, not economic. Yes, generating power by digging a mile-deep hole, filling it with water, and running nuclear reactor at the bottom of it is likely to be crazy expensive and have all kinds of environmental challenges.

But what you have to understand is that the American political system is a zero-sum game and Democrats put their chips on solar, wind, and other renewables. Republicans put theirs on coal, oil, natural gas, and nuclear.

Solar and Wind have proved to be the winning bet over petro-products and that has happened fast enough that a lot of voters remember Republican opposition to those power sources. No political movement tolerates being unambiguously wrong about something so the American right is desperate for an argument on the energy front that allows them to validate the arguments they've been making over the past 50 years.

Nuclear is that argument. But to do nuclear you've gotta be able to convince people that they don't need to be afraid of a nuclear plant in their community. That's a heavy lift and what this technology really provides is a new argument beyond getting the general public to trust a bunch of nuclear and civil engineers when they say it's perfectly safe. Your average voter may not understand how a modern nuclear containment unit works. But "it's buried under a mile of rock" has a simple elegance to it.

I mean that's hydro

EO is just a Presidents Diary, they aren't laws and nobody has to listen to them.