Fun fact.
Every mobile phone has an average of 36 mg of gold and to extract this small portion, through traditional mining, 3 kg of earth have to be removed.
This is the process used for extracting it.
[📹 humblesideofficials]
Some bees stop flying when lights go out.
An explanation of such sudden response is an adaptation to predators flying overhead: see a shadow, drop to avoid being caught.
[📹 Hamish Symington]
The Prophets Mosque in Medina, Saudi Arabia, has a yard covered with 250 giant automatic convertible umbrellas that offer shade for worshipers during the day
[📹 msaifulmokhtar]
GPT-4 is so close to creating a universal educational simulator based on just a paragraph prompt. Take a look at this simulated negotiation, with grading and feedback.
Prompt: "I want to do deliberate practice about how to conduct negotiations. You will be my negotiation teacher. You will simulate a detailed scenario in which I have to engage in a negotiation. You will fill the role of one party, I will fill the role of the other. You will ask for my response to in each step of the scenario and wait until you receive it. After getting my response, you will give me details of what the other party does and says. You will grade my response and give me detailed feedback about what to do better using the science of negotiation. You will give me a harder scenario if I do well, and an easier one if I fail."
I did this with GPT-3.5 a month ago and it was nowhere near as good (GPT-4 also seems more willing to give worse grades than GPT-3.5 - which is good)
Yeah man crypto is the future, let me bring you up to speed
First, TerraUSD collapsed, a massive Ponzi scheme where investors were promised 20% APR on their USD ($20B in UST and $40B in LUNA wiped out)
This caused the largest crypto hedge fund to go insolvent due to excessive leverage, 3AC ($3B AUM wiped out)
3AC borrowed funds from all the largest crypto lenders, each of who went insolvent after bank runs inevitably occurred, causing a market wide credit crunch
Celsius ($12B AUM, $1.2B deficit), Voyager ($1.6B AUM, ~$670M default), BlockFi ($3.9B AUM, $400M revolving credit)
Voyager and BlockFi were bailed out by FTX/Alameda, but ah turns out they were complete fraud too
With $10B of customer funds siphoned from FTX to cover Alameda’s losses, a bank run took place, creating a second contagion wave, leaving Voyager/BlockFi rekt again
Genesis Lending, under the DCG conglomerate, also went bankrupt due to Alameda/FTX exposure ($3B shortfall)
Gemini was lending $900M in customer funds to Genesis, so they and their customers inevitably got wrapped in the mess too
No doubt TradFi is involved in this too, with the collapse of two banks that were key banking partners for crypto
Silvergate (FTX’s banking partner and ran an payment network for crypto exchanges) experienced a bank run and collapsed after losing $1B on bonds
While SVB (Circle’s banking partner for USDC and most tech startups) experienced a bank run and collapsed after losing $1.8B on bonds
Not looking too good for Signature Bank either, which runs the ‘other’ bank payment network for crypto exchanges
Can’t forget the SEC trying to strongarm the industry from shutting down Kraken’s staking product to calling Paxos’ stablecoins a security and shutting down BUSD, and much more
Various banking regulators also strongarming banks into refusing to onboard crypto companies as clients, forcing them overseas and to use sketchy counterparts
Anyways
Have you heard of liquid staking derivatives and re-staking? Pretty cool financial engineering right there, crypto innovation never stops 💪
@Theholisticpsyc I largely agree. But what happens if you agreed with a family member whom you often fight with to both do half, you end up doing 70% to ensure you’ve done your portion and the family member does 10% - leaving them to soak and for you to do the rest because you live at this house.