Mind Matters Natural and Artificial Intelligence News and Analysis

CategoryBusiness and Finance

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ethereum Crypto currency was found in the treasure box

Ethereum Is a Better Long Run Bet Than Bitcoin, Researchers Say

Cryptocurrencies in general are starting to be seen as part of a balanced portfolio

In an article featuring recent science research into the cryptocurrency market, Ross Pomeroy offers some researchers’ perspective on why Ethereum tends to be more stable than Bitcoin: Ethereum might be a better long-term investment than Bitcoin. The cryptocurrency Ethereum ranks second to Bitcoin in terms of popularity, yet two studies have shown that tends to be more stable and a better “safe-haven” investment during difficult economic times. As a team of researchers from Singapore wrote in the journal PLoS ONE, “Although both Bitcoin and Ethereum are digital tokens that serve as decentralised currency based on blockchain technology, there are crucial differences between them. While Bitcoin has positioned itself as an alternative monetary system in the financial market, Ethereum has mostly…

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Smart digital city with globalization abstract graphic showing connection network . Concept of future 5G smart wireless digital city and social media networking systems .

Florida Governor, Nation States, Take On Big Tech

Rattled by censorship and deplatforming, many jurisdictions are looking at ways to make Silicon Valley respect citizens’ rights. Florida’s Governor DeSantis may be the most colorful

At a press conference on Monday, Florida Gov. Ron DeSantis offered a look at new legislation that forms part of his initiative to reduce the power of Big Social Media to harvest and sell data on users: The act, should it pass muster in the state House and Senate, would force tech platforms to disclose what data they have on Floridians to those users and delete that information if requested. The law would also ask companies not to sell the data and would create legal avenues to sue for noncompliance. Whether one state will be able to regulate such massive companies that operate on a global scale remains to be seen — likely in a court of law. Emily Jacobs,…

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Brain made of oil

Will Ordinary Human Intelligence Become the New “Oil”?

At one time, the tech craze was for outsourcing jobs. Maybe it’s time to look at “insourcing” instead

Outsourcing is the silver bullet of the IT age. Everything can be made more cheaply and more profitably by sourcing the work from places with a lower cost of living. But do those places always have to be overseas? Not necessarily. The perils of overseas outsourcing are well known, ranging from communication through cultural or time zone incompatibilities. What if there were a way to eliminate those incompatibilities while still retaining the benefits of workers who live in an area with a lower cost of living? This is possible through “insourcing.” There are regions of the United States where the cost of living is quite low, allowing companies to have their cake and eat it too. Work can be done…

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Closeup of witcher cauldron with magical mixture for Halloween

Bubble, Bubble, Toil and Trouble: Here We Go Again

Trouble brews when inexperienced traders try their hand at the stock market

The extraordinary investor and statesman Bernard Baruch once warned that, When beggars and shoeshine boys, barbers and beauticians can tell you how to get rich, it is time to remind yourself that there is no more dangerous illusion than the belief that one can get something for nothing. Over and over and over again, the unwary fall for money-for-nothing illusions — Dutch tulip bulbs, South Sea stocks, Japanese real estate, dot-com stocks, and bitcoin, not to mention baseball cards, beanie babies, and other so-called collectibles. Now we have a torrent of Reddit chatter inspiring the gullible to gobble up shares of GameStop, AMC, and whatever catches the crowd’s collective attention. Many Reddit-pumped buyers claim that they are part of a noble battle to punish…

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Bulle und Bär aus Börsen-Zeitungspapier

Who Is Allowed in the Smoke-Filled Rooms of Investment?

How the stock market is manipulated, using the GameStop episode as an example

Full disclosure: I continue to maintain positions in some of the stocks mentioned in this article. But, as you will see, my goal here is neither to promote stock or dissuade from it, but rather to ask a deeper question about who is allowed to do what about a stock. For those who are unaware, the last two weeks in the stock market have gone crazy. GameStop (GME), a company that continues to lose money, skyrocketed from $18/share to, as of the time I’m writing, just about $450 per share. That’s right the stock soared over 20 times in value over the period of a few weeks. Several other stocks have also skyrocketed, including AMC Entertainment (AMC) and Koss Corporation…

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The red human figure extends its influence to the neighboring figures. Spreading ideas and thoughts, recruiting new members. Infection of other people, zero patient. Leader and leadership, new team.

To Succeed, Understand Difference Between Influence and Power

Do you wonder why some people are listened to and not others, regardless of the value of their ideas? Well, read on…

At business mag Forbes, some have begun to consider the difference between influence and power: Swarthmore College has been rated the best liberal arts college in the U.S. by Academic Influence, a new college rankings method that uses artificial intelligence technology to search massive databases and measure the impact of work by individuals who’ve been affiliated with colleges and universities throughout the world. Last Monday, Academic Influence released its first-ever ranking of American liberal arts colleges – those four-year institutions that are relatively small in size, focus on bachelor’s level education, emphasize direct engagement with professors, provide an enriched residential experience, and insist on broad grounding in the liberal arts along with focused study in a major. In brief, here’s…

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Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

What If Many People Ditched Government Currencies for Bitcoin?

Are cryptocurrencies our best bet for a fair global currency system?

Picture a world racked by economic issues like coronavirus, where people begin ditching government (fiat) currencies for Bitcoin. Small changes are are underway: The chief economist did not mention that a growing number of jurisdictions are already embracing bitcoin for tax payments. For example, the canton of Zug in Switzerland announced that it will start accepting bitcoin for tax payments this year. Several other local governments in Switzerland have made a similar announcement, such as Zermatt. Recently, the mayor of Miami said that he is working on allowing payments for city services in bitcoin. Furthermore, a growing number of stores are accepting bitcoin payments. Payments giant Paypal, for example, is planning to allow people to use cryptocurrency to pay for…

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Convergence Background, Converge Toward Objective

Will Mediocrity Triumph? The Fallacy That Will Not Die

Economist claims: It is a fundamental economic truth that businesses converge to mediocrity. Is he right?

Nearly 100 years ago, a famous economist named Horace Secrist wrote a book with the provocative title, The Triumph of Mediocrity in Business. He had spent ten years collecting and analyzing data on the success of dozens of companies in dozens of industries during the years 1920 to 1930. For each measure of success, he used the 1920 data to divide the companies in each industry into quartiles: the top 25%, second 25%, third 25%, and bottom 25%. He then calculated the average value of the success metric for the 1920 top-quartile companies every year from 1920 to 1930. He did the same for the other three quartiles. In every case, the companies in both the top two quartiles and the bottom two…

Thief Stealing Folder From Shelf

The President Pardons the Founder of a Church That Worships AI

On his last day in office, departing President Trump pardoned Anthony Levandowski

Anthony Levandowski has an interesting history He transitioned from Silicon Valley wunderkind to inept theologian to convicted felon. Now he is free, due to a pardon given by Donald Trump in Trump’s last day in office. If you are an orthodox materialist, you believe our brains are computers made of meat. Artificial intelligence, brains made out of silicon, will therefore match and eventually exceed human capabilities and become godlike. So it might make sense to form a church that worships this future AI god. That’s what Anthony Levandowski did in 2019. His church was christened Way of the Future. Levandowski reasoned “What is going to be created [by AI] will effectively be a god … if there is something a…

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Golden bitcoin coin in fire flame, water splashes and lightning. Bitcoin Gold blockchain hard fork concept. Cryptocurrency symbol in storm illustration with peer to peer network background.

Bitcoin: What’s Good, What’s Bad and What’s the Future?

Bitcoins are currently bouncing in the range of $30,000 to $40,000 each

Bitcoin has been having quite the wild ride over the last several months, and especially the last several weeks. During 2020, the price of a single bitcoin dipped below $5,000, then soared past $20,000 in December. It is currently bouncing in the range of $30,000 to $40,000.So what is the attraction of the digital currency Bitcoin? Why is the value of a bitcoin so high and what are people doing with it? To begin with, keep in mind that a “single bitcoin” is a bit of a misnomer. While a single bitcoin is indeed expensive, coins can be split. The smallest unit in Bitcoin is known as a satoshi, which is 0.00000001 bitcoin. While the quoted price is always given…

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Picture of puckered lips

AI 2020 Smash hits #5: Deepfakes — What They Can and Can’t Do

Deepfakes? Our minds often actually fill in a lot of our background for us when we are not even aware of it

Our Walter Bradley Center director Robert J. Marks is back with Jonathan Bartlett and Eric Holloway, are back, with the second instalment of 2020 smash hits in AI. Readers may recall that we offered a fun series during the holidays about the oopses and ums and ers in the discipline (typically hyped by uncritical sources). Time to celebrate the real achievements! Well, our nerds think that #5 is believable deep fakes in entertainment, for better or worse Here’s a partial transcript. (Show Notes and Additional Resources follow, along with a link to the complete transcript.) Robert J. Marks: Jon, what are deep fakes and what is Disney doing that’s going to wow us? Jonathan Bartlett: People are worried about the…

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Chinese Entrepreneur Jack Ma Missing After Criticizing The Party

If even Jack Ma can just disappear in China’s high tech world, is anyone safe?

Several media outlets are asking “Where is Jack Ma?” China’s most well-known tech entrepreneur and self-made billionaire has not been seen publicly after a speech he gave at the Bund Summit in Shanghai in October criticizing China’s financial system. CNBC’s David Faber reports that Ma (pictured) is not missing but “laying low” and is purposely remaining less visible after his speech angered the CCP. Radio Free Asia, however, says Ma is definitely under a travel ban and may be “under restrictive measures.” More ominously, Asia Times Financial reports that a CCP mouthpiece has said Jack Ma is now “embracing supervision” at an undisclosed location. So who is Jack Ma? He is the founder of e-commerce company Alibaba Group. The company’s…

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Young woman traveling in self driving car

#8 AI 2020 Smash Hit: Big Gains in Practical Self-Driving Cars

The people who have been pursuing Level Five self-driving are nowhere but Level Four is working well

Our Walter Bradley Center director Robert J. Marks is back with Jonathan Bartlett and Eric Holloway, explaining their choices for Top Ten real advances (“Smash Hits”) in AI in 2020. Readers may recall that we offered a fun series during the holidays about the oopses and ums and ers in the discipline (typically hyped by uncritical sources). Now it’s time to celebrate the real achievements and our nerds think that #8 is the big advances in practical self-driving cars, that is Level Four cars. The car industry defines five levels of self-driving. Level Five would be Elon Musk’s robotaxis that earn money all on their own while the owners’ sleep (hasn’t happened). Level Four is the practical approach, as Jonathan…

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male hand using navigation system on car dashboard

#9 AI Success: Smarter Cars for Non-Millionaires

If your car is a recent model, an affordable aftermarket kit might transform it into a much smarter car

Our Walter Bradley Center director Robert J. Marks is back with Jonathan Bartlett and Eric Holloway to assess the Top Ten real advances (“Smash Hits”) in AI in 2020. Readers may recall that we offered a fun series during the holidays about the oopses and ums and ers in the discipline (typically hyped by uncritical sources). Now it’s time to celebrate the real achievements. Our nerds think that the assisted driving kit from Comma.ai is one of them—an aftermarket kit that can make your car a smarter car. So here’s #9, featuring Eric Holloway who is a (smart) cheapskate: https://episodes.castos.com/mindmatters/Mind-Matters-116-Jonathan-Bartlett-Eric-Holloway.mp3 Our story begins at 09:19. Here’s a partial transcript. (Show Notes and Additional Resources follow, along with a link to…

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Tired man sitting in car, wearing in sleeping mask

#4 Elon Musk: This Time Autopilot Is Going To WORK!

Jonathan Bartlett: I have to say, part of me loves Elon Musk and part of me can't stand the guy

Our nerds here at the Walter Bradley Center have been discussing the top twelve AI hypes of the year. Our director Robert J. Marks, Eric Holloway and Jonathan Bartlett talk about overyhyped AI ideas (from a year in which we saw major advances, along with inevitable hypes). From AI Dirty Dozen 2020 Part III, here’s #4: Elon Musk’s fully self-driving software is finally going to work: Tesla CEO Elon Musk said Tuesday that the test version of the company’s Autopilot system will be released in “a month or so.” While he didn’t describe its capabilities, Musk said that once it’s out, “you’ll see what it’s like. It’s amazing. It’s clearly going to work.” Chris Woodyard, “Elon Musk says Tesla’s full…

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SEO symbol  on the keyboard of a latop, 3d rendering,conceptual image. online  google and search concepts.

Why Are 38 American States Suing Google?

Better question: What search engine results do you NEVER see?

The current lawsuit was announced by Colorado’s Attorney General Phil Weiser but 38 states are signatories. The big issue is alleged suppression of competition. First, a bit of background: This is not the first big time lawsuit. That one would be from the U.S. Department of Justice in October: In October, the U.S. Department of Justice filed a lawsuit against Google, owned by Alphabet, for violating antitrust laws and actively enabling a monopoly in search engines and search advertising. The announcement followed a year’s worth of investigation by prosecutors, who “have spoken with Google’s rivals in technology and media, collecting information and documents that could be used to build a case.” The suit focuses on the tech giant’s illegal actions…

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Senior Woman Giving Credit Card Details On The Phone

How Do We Know Financial Transactions Are Honest?

Let’s look at the steps we can take to find out

Recently, we’ve been asking readers to think about Alice and Bob, the famous pair in physics used to demonstrate propositions, for example, as if as if they were running for office. At Expensivity, a blog about that expensive and unpleasant subject, money, Bernard Fickser asks about better ways of preventing financial fraud: We focus on financial Alice (the situation with financial Bob is parallel). Alice wants the record of deposits and disbursements in her ledger to reflect deposits that she has knowingly and willingly received as well as disbursements that she has authorized to go to the intended parties. If this is the case, the record of deposits and disbursements in her ledger as well as the running totals will…

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Jellybean Candy in a Jar

The Wisdom of Crowds: Are Crowds Really Wiser Than Individuals?

According to the theory, with a large number of guessers, the median number is very likely to be close to the true value

Statistician Sir Francis Galton went to a country fair in 1907 where a prize was to be awarded to the person who made the most accurate guess of the butchered weight of an ox that was on display. Galton collected and analyzed the 787 guesses and, not surprisingly, found that some guesses were far too high and others were much too low. However, the average guess (1,197 pounds) was only 1 pound lower than the actual weight (1,198 pounds). The average was more accurate than the guesses of the vast majority of both the amateurs and the experts. In the 1980s, a finance professor named Jack Treynor (1930–2016) performed a similar, and now legendary, experiment with jelly beans. Professor Treynor…

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Autonomous vehicles on highway with self driving cars sensing environment by radar and operating safely on speedway thanks to artificial intelligence and control systems, automated transport concept

What Real Advantage Do Self-Driving Cars Provide?

It’s time for a hard-headed look at the costs and benefits of the pursuit of fully self-driving cars

More and more people are realizing that autonomous (self-driving) vehicles are not a road to automotive prosperity. To recap, Level 5 self-driving is what most people think of when they hear the term “self-driving.” You type in an address and the car takes you where you want to go while you sleep in the back. That car is not going to hit the road anytime soon. Level 4 self-driving is similar but only works within well-defined areas or situations. In practice, Level 4 essentially relies on either intelligent infrastructure or a territory that is so predictable and well-mapped that it obviates the need for intelligent infrastructure. Huge amounts have been invested in self-driving vehicles. The Information estimated that $16 billion…

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Rolled Yuan bill on the map of Africa. Chinese investment in African economy

China and Africa: Debt-Trap Diplomacy?

The story of China helping Africa modernize resists simple formulas

Last week, I reported on the accusations of racism on the part of the the Chinese authorities against African residents of the city of Guangzhou in Guangdong province. While Africa and China have enjoyed a seemingly amicable relationship since the 1970s, several African leaders have pointed to the COVID-19 pandemic as highlighting unresolved underlying tensions. One of those tensions is several African countries’ debt burden. China’s response to requests for deferral in the midst of a pandemic has strained Sino-African relations. China isn’t the African countries’ only creditor. As of this writing, G20 leaders will be meeting to discuss debt-relief and extending the Debt Suspension Service Initiative (DSSI). The service has deferred debt payments by poor countries due to the…