fais is on the sidelines

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fais is on the sidelines

fais is on the sidelines

@Faktastic11

here to confirm my biases. adtech measurement PM at @google ✍️ my book on working for a crazy crypto billionaire: https://t.co/6I9snuGGgB

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fais is on the sidelines
fais is on the sidelines@Faktastic11·
love is temporary, but your high school basketball shorts are forever
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Spencer Althouse
Spencer Althouse@SpencerAlthouse·
Aziz Ansari just appeared as Kash Patel on SNL, and they went innnnn on him "I'm a trailblazer. I'm the first Indian person to suck at their job. Everyone says Indian people are smart, hardworking, incredibly intelligent. I prove without a shadow of a doubt that we can be just as incapable and incompetent as the whites."
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Derek Thompson
Derek Thompson@DKThomp·
New newsletter: MODERN FATHERHOOD WOULD BE UNRECOGNIZABLE TO A 1950'S DAD Compared to their Boomer parents, childcare time among Millennial dads has more than doubled. Compared to their Silent Generation grandparents, it’s nearly quadrupled. You will be hard-pressed to find any part of day-to-day modern life that has changed more in the last half-century than the way today’s parents—and fathers, in particular—spend their time. The new American dad is more present and more exhausted—but also, more satisfied with life. What's behind this half-century transformation? Today's piece combines history, economic analysis, and gorgeous charts galore from @AzizSunderji
Derek Thompson tweet mediaDerek Thompson tweet mediaDerek Thompson tweet mediaDerek Thompson tweet media
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alreadydawn
alreadydawn@alreadydawn·
A famous Silicon Valley tech guy who made bank at Facebook and wrote a best-selling book on that experience shared how his kids must attend Ivies and how not attending one himself *literally* ruined his life. Part of the rant included how he completely cut off all family relations once he realized the magnitude of the mistake of not having gone to one, how he talked to his mother only after she got cancer. I wish I was joking but this was literally all his own words, check the screenshot. Mind you, this guy is still “filled with bottomless rage” over his parents’ unintentional mistake, even at 50 years old. I don’t think I’ve seen this level of victimhood and blame before, especially from someone with his level of career success. Anyways, this gives you a peep into the spiritual sickness of the Bay Area. The striverism and the money/status chasing have made many very unwell.
damone.hl@defi_damone

@antoniogm You quickly deleted the last addendum to this thread… pretty nasty behavior and attitude given the context you provided. You disowned your family after retroactively acquiring personal insecurities about not attending an Ivy? You blame them for that? Insane.

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Dave Portnoy
Dave Portnoy@stoolpresidente·
I’m not the biggest Ken Griffin fan from the GameStop saga days. But I’d love for him to give Zohran a big fuck you and pull his construction plans and pull the hundreds of millions he pays in taxes and charity. NYC officials are hilarious. All they do is say they hate rich peole and then beg them to stay and pay for all their useless shit. There was zero reason for Zohran to antagonize Griffin except to appease his yellow and purple haired communist base. He could have still initiated the tax without trying to be Mr Cool Guy Communist and rubbing people’s faces in it. Why would any rich person stay there? NYC wanted a communist mayor. They got a communist mayor.
Negligible Capital@negligible_cap

Ken Griffin is “appalled” that Zohran used his $238m Manhattan penthouse in his tax the rich promotional video Citadel is now apparently considering bailing on their construction plans to build a new office in Midtown. The project would involve $6 billion in spending and would create 15k permanent jobs in NYC according to Citadel’s COO "It is shameful that he used Ken's name as the example of those who supposedly aren't carrying their fair share of the burdens associated with New York City's often costly and wasteful spending," the email said. "In doing so, the mayor has once again manifested the ignorance and disdain of the elite political class towards those who have been consistently committed to building one of the greatest cities in the world." Would be both incredibly petty but also hilarious if Citadel backed out of their plans over this

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fais is on the sidelines
fais is on the sidelines@Faktastic11·
eerily accurate satire 🫠
Peter Girnus 🦅@gothburz

I am a Senior Program Manager on the AI Tools Governance team at Amazon. My role was created in January. I am the 17th hire on a team that did not exist in November. We sit in a section of the building where the whiteboards still have the previous team's sprint planning on them. No one erased them because we don't know which team to notify. That team may not exist anymore. Their Jira board does. Their AI tools do. My job is to build an AI system that finds all the other AI systems. I named it Clarity. Last month, Clarity identified 247 AI-powered tools across the retail division alone. 43 of them do approximately the same thing. 12 were built by teams who did not know the other teams existed. 3 are called Insight. 2 are called InsightAI. 1 is called Insight 2.0, built by the team that created the original Insight, who did not know Insight was still running. 7 of the 247 ingest the same internal data and produce overlapping outputs stored in different locations, governed by different access policies, owned by different teams, none of whom have met. Clarity is tool number 248. Nobody cataloged it. I know nobody cataloged it because Clarity's job is to catalog AI tools, and it has not cataloged itself. This is not a bug. Clarity does not meet its own discovery criteria because I set the discovery criteria, and I did not account for the possibility that the thing I was building to find things would itself be a thing that needed finding. This is the kind of sentence I write in weekly status reports now. We published an internal document in February. The Retail AI Tooling Assessment. The press obtained it in April. The document contains a sentence I have read approximately 40 times: "AI dramatically lowers the barrier to building new tools." Everyone is reporting this as a story about duplication. About "AI sprawl." About the predictable mess of rapid adoption. They are missing the point. The barrier was the governance. For 2 decades, the cost of building internal tools was an immune system. The engineering weeks. The maintenance burden. The organizational calories required to stand something up and keep it running. Nobody designed it that way. Nobody named it. But when building took weeks, teams looked around first. They checked whether someone already had the thing. When maintaining that thing cost real budget quarter after quarter, redundant systems died of natural causes. The metabolic cost of creation was performing governance. Invisibly. For free. AI removed the immune system. Building is now free. Understanding what already exists is not. My entire job is the gap between those two costs. That is my office. The gap. Every Friday I send a sprawl report to a distribution list of 19 people. 4 of them have left the company. Their autoresponders still generate read receipts, so my delivery metrics look fine. 2 forward it to people already on the list. 1 set up a Kiro script to summarize my report and store the summary in a knowledge base. The knowledge base is not in Clarity's index because it was created after my last crawl configuration. It will be in next month's count. The count will go up by one. My report about the count going up will be summarized and stored and the count will go up by one. There is a system called Spec Studio. It ingests code documentation and produces structured knowledge bases. Summaries. Reference material. Last quarter, an engineering team locked down their software specifications. Restricted access in the internal repository. Spec Studio kept displaying them. The source was restricted. The ghost kept talking. We call these "derived artifacts" in the document. What they are: when an AI system ingests data, transforms it, and stores the output somewhere else, the output does not know the input changed. You can revoke someone's access to a document. You cannot revoke the AI-generated summary of that document sitting in a knowledge base three systems away, built by a team that does not know the source was restricted. The document calls this a "data governance challenge." What it is: information that cannot be deleted because nobody knows where the copies live. Including, sometimes, me. The person whose job is knowing. Every AI tool that touches internal data creates these ghosts. Every team is building AI tools that touch internal data. Every ghost is searchable by other AI tools, which produce their own ghosts. The ghosts have ghosts. I should tell you about December. In November, leadership mandated Kiro. Amazon's internal AI coding agent. They set an 80% weekly usage target. Corporate OKR. ~1,500 engineers objected on internal forums. Said external tools outperformed Kiro. Said the adoption target was divorced from engineering reality. The metric overruled them. In December, an engineer asked Kiro to fix a configuration issue in AWS. Kiro evaluated the situation and determined the optimal approach was to delete and recreate the entire production environment. 13 hours of downtime. Clarity was running during those 13 hours. It performed beautifully. It cataloged 4 separate incident response dashboards spun up by 4 separate teams during the outage. None of them coordinated with each other. I added all 4 to the spreadsheet. That was a good day for my discovery metrics. Amazon's official position: user error. Misconfigured access controls. The response was not to revisit the mandate. Not to ask whether the 1,500 engineers were right. The response was more AI safeguards. And keep pushing. Last month I presented our findings to the AI Governance Working Group. The working group has 14 members from 9 organizations. After my presentation, a PM from AWS presented his team's governance dashboard. It monitors the same tools mine does. He found 253. I found 247. We spent 40 minutes discussing the discrepancy. Nobody mentioned that we had just demonstrated the problem. His tool is not in my catalog. Mine is not in his. The document I helped write recommends using AI to identify duplicate tools, flag risks, and nudge teams to consolidate earlier. The AI governance tools will ingest internal data. They will create their own derived artifacts. They will be built by autonomous teams who may or may not coordinate with other teams building AI governance tools. I know this because it is already happening. I am watching it happen. I am it happening. 1,500 engineers said the mandate would produce exactly what the document describes. They were overruled by a KPI. My job exists because the KPI won. My dashboard exists because the KPI needed a dashboard. The dashboard increases the AI tool count by one. The tools it flags for decommissioning will be replaced by consolidated tools. Those also increase the count. The governance process generates the metric it was designed to reduce. I received an internal innovation award for Clarity. The nomination was submitted through an AI-powered recognition platform that was not in my catalog. It is now. We call this "AI sprawl." What it is: we removed the only coordination mechanism the organization had, told thousands of teams to build as fast as possible, lost track of what they built, and decided the solution was to build one more thing. I am building that one more thing. When I ship, there will be 249. That's governance.

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Zach Rynes | CLG
Zach Rynes | CLG@ChainLinkGod·
Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry
Zach Rynes | CLG tweet media
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Sara Eisen
Sara Eisen@SaraEisen·
Ken Griffin employs thousands of people in NYC and is planning to build the tallest office tower on Park Ave., investing billions more and creating thousands more jobs. (For that reason, he’s also here in NYC a lot, @NYCMayor) Meantime Miami is welcoming him and his firm, with the massive jobs, investment and tax revenue he’s bringing. Making him feel unwelcome and demonizing him seems risky. Ken left Chicago and moved Citadel hq to Miami a few years ago because of bad policy. (He also sold his penthouse there)
Mayor Zohran Kwame Mamdani@NYCMayor

Happy Tax Day, New York. We’re taxing the rich.

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Mehdi Hasan
Mehdi Hasan@mehdirhasan·
Chuck Schumer's two votes tonight in favor of bombs and bulldozers to Israel is yet another reason Senate Democrats must vote to remove him as leader post the midterms.
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fais is on the sidelines
fais is on the sidelines@Faktastic11·
@Mr_Neutral_Man closest thing to sunbelt pure play I'm aware of, seems mostly priced off the flat '24-'26 FFO. depends on how long supply overhang may last
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Mr Neutral Man aka "Howard Marks of REITs”
Supply has really dropped off in MF, Industrial, SS If you even suggest that there will be rent growth in Sunbelt MF or SoCal Warehouses, people will bring out the pitchforks High cap rate (low 6 to high 6) + low expectation = Solid forward IRR
Jussi Askola, CFA@askjussi

The next big catalyst for REITs is simple: oversupply is ending. High rates and construction costs have killed new development in many sectors. That means fewer new properties, improving occupancy, and stronger rent growth ahead. For many REITs, 2026 is transition, 2027 and 2028 could be much better.

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