I agree, this is makes no sense at all.
Can I take the other side of this investment? Like an angel funding round, but selling short?
Start a market on Polymarket that they go bankrupt in X years?
Readit Newschaseadam17 commented on The Gang Has a Mid-Life Crisis chris-martin.org/2025/the... · Posted by u/dralley
Innovation in trad engineering disciplines didn't stop when the industry gained professional guilds and legal status. We have far better buildings, extremely reliable jet planes, high speed rail, the internet...
I disagree. I believe we’ve had far less progress in real world engineering in the past 50 years than the 50+ prior.
chaseadam17 commented on The Gang Has a Mid-Life Crisis chris-martin.org/2025/the... · Posted by u/dralley
I imagine what these guys miss is the freedom of obscurity. Tech has gone from being ignored to being ridiculed and regulated. Like a company getting more bureaucratic as it scales, it makes sense to professionalize a sector as its influence grows. The problem is that professionalization is often the enemy of innovation. If you care about having the freedom to innovate, this leaves you with three options: be the angry old man yelling at the clouds, constructively try to improve the process of professionalization from within or quietly go innovate elsewhere. The problem with the last option is that there aren’t too many places left to go and it’s hard to start over, which is why I think Elon and others take to some combination of the first two.
chaseadam17 commented on Launch HN: Karsa (YC W25) – Buy and save stablecoins internationally · Posted by u/Shasnani
I'm pretty sure this is what Airtm started out doing years back but it looks like they since pivoted to focusing more on paying contractors with stablecoins: https://www.airtm.com/en/
If US users continue to use the app via VPN, will that hinder the CCPs ability to weaponize it? If so, this outcome may be a good middle ground.
I don’t think people don’t care, I think they have too much to do. Kids at home, too much work, and still barely making ends meet. Our society is set up to push people to the max, prioritizing quantity and “good enough” over quality. Most people do not have a career where spending 1% more time on a curb design instead of spending that time with their kids results in any more pay, much less the spare time to focus on craftsmanship for its own sake.
Arweave fixes this. It’s pay once permanent decentralized storage. One of the few web3 projects with fast-growing real world usage.
chaseadam17 commented on Elon Musk sues Sam Altman, Greg Brockman, and OpenAI [pdf] courthousenews.com/wp-con... · Posted by u/modeless
Usually when you convert from a non-profit to a for-profit, the non-profit has a third party value its assets then sells them to the new for-profit.
Because you are acquiring assets from yourself, there are some protections, like you can’t have the same people run the non-profit and the new for-profit and the attorney general has to sign off on the transaction, which I believe happened with OpenAI.
Also, the non-profit has to use the funds it received in the acquisition to continue to further its original mission.
My gut is the lawsuit will come down to whether the for-profit paid a fair price, which in retrospect could look suspect given how much OpenAI is valued at now, but the government and a third party likely already approved the transaction long ago.
It may also come down to whether the non-profit used / is using the funds it received in exchange for the assets to continue to serve the public interest per OpenAIs original mission and not the interests of the new for-profit or any associated individuals.
This will be a good test for the legal strategies to convert non-profits to for-profits.
chaseadam17 commented on Social networks are getting stingy with their data techcrunch.com/2024/02/09... · Posted by u/hubraumhugo
Farcaster solves this. I'm surprised it's not mentioned in the article or anywhere in the comments.
1. There are fewer new products normal people want to buy, especially in tech.
2. Inflation is making the everyday things people need more expensive.
3. VC money for the most popular products ran out and companies are jacking up prices.
4. Concerns over tech's impact on health is limiting tech use and more negative sentiment.
All of this is causing a slowdown in tech and AI could be the perfect fix:
1. Shiny new product for people to buy.
2. Reduce costs and increase margins right when it's most needed.
3. Justify more investment in the space (super intelligence = best VC investment ever).
4. Solve bread and butter problems in health, education, etc. if safety is prioritized.
My guess is that this need for AI is causing a lot of the tech sector to overestimate how quickly AI will revolutionize things, similar to getting "flying car" predictions right at the top of the automotive s-curve.
I believe AI will have a big impact in the long-term but no where close to as quickly as most people believe, and that the short-term impact will be limited to more narrow use cases. I also believe we're going to see a big rebound to people doing work in the next few years.
Many here likely disagree with me and it will be interesting to see how everything plays out.