Adam Ghobarah

764 posts

Adam Ghobarah

Adam Ghobarah

@aghobarah

Founder, Top Harvest Capital... Machine Learning / AI...ex-Google (14 years)...

Katılım Mayıs 2012
239 Takip Edilen529 Takipçiler
Adam Ghobarah retweetledi
Alex Ratner
Alex Ratner@ajratner·
5/ - Examples of FMs trained on proprietary, domain-specific data like BloombergGPT arxiv.org/abs/2303.17564 show the way forward: enterprises (and people!) using the durable moat of their own private data to build powerful, domain-specific FMs.
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Alex Ratner
Alex Ratner@ajratner·
2/ *Closed APIs aren't defensible* - Recent examples like @StanfordCRFM Alpaca tinyurl.com/yc78bnct shows that cloning closed API-based FMs like ChatGPT can be done for a few $100 on top of small OSS base FMs (e.g. here, fine-tuning LLaMa 7B via exs from the ChatGPT API).
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Steve Yegge
Steve Yegge@Steve_Yegge·
I've just posted my first update since joining Sourcegraph six months ago, "Cheating is All You Need". In it I introduce AI-backed coding assistants, which are the biggest change I've seen in 35 years as an engineer. Enjoy! about.sourcegraph.com/blog/cheating-…
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Jeff Dean
Jeff Dean@JeffDean·
A bit of a peek into the PaLM LLM APIs we announced yesterday (currently in private preview with a few customers/users to get feedback: we'll broaden access in the coming weeks)
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Mitt Romney
Mitt Romney@MittRomney·
Silicon Valley Bank’s shareholders and executives lose it all, as they should. Depositors in good faith, however, should recover and have access to their deposits in order to meet their payrolls, pay their suppliers, and to prevent contagion.
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Bill Ackman
Bill Ackman@BillAckman·
From a source I trust: @SVB_Financial depositors will get ~50% on Mon/Tues and the balance based on realized value over the next 3-6 months. If this proves true, I expect there will be bank runs beginning Monday am at a large number of non-SIB banks. No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk. Absent a systemwide @FDICgov deposit guarantee, more bank runs begin Monday am.
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Bill Ackman
Bill Ackman@BillAckman·
The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.
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Bill Ackman
Bill Ackman@BillAckman·
The failure of @SVB_Financial could destroy an important long-term driver of the economy as VC-backed companies rely on SVB for loans and holding their operating cash. If private capital can’t provide a solution, a highly dilutive gov’t preferred bailout should be considered.
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Vectara
Vectara@vectara·
LLM-powered tools like ChatGPT are at the forefront of AI innovation. But how do these models arrive at their remarkable responses? We like this deep dive from @stephen_wolfram: hubs.ly/Q01DhK7Z0 #LLM #ChatGPT
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Jeff Dean
Jeff Dean@JeffDean·
Part 7 is out, posted by @johnplattml on behalf of many, covering advances in our work on various problems in the natural sciences, including neurobiology, biochemistry, and the application of quantum computing to problems in physics. ai.googleblog.com/2023/02/google…
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