SRCL

@Austen @AlphaAIEng Fascinating. Apologies for the skepticism

@nyseSRCL @AlphaAIEng Interns make $20k ea for the 8 weeks + free housing, food, flights, compute, etc.

Last week we gave our 63 interns from Stanford, MIT, and UT Austin a challenge: Train a small language model that will beat the frontier models in some niche thing. Not prompt engineering or building a harness, actually training a small model. Sharing some results tonight.

@50ontheDollar Guy on my team had the complete LSTA credit agreement textbook thing on his desk and I always thought it was aura

Think the birds will rock with this?

@2020wasstolen @JakeWilkns Article I, Section 8 “To define and punish Piracies and Felonies committed on the high Seas, and Offences against the Law of Nations;” “To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;”

@nyseSRCL @JakeWilkns What are they?

Wow: Graham was told to seek immediate medical attention but said he would after his Meet The Press appearance

@2020wasstolen @JakeWilkns What nonsense are you spouting? Do you want to remind me what the responsibilities of Congress outlined in the Constitution are?

@JakeWilkns The only elected official who should be commenting on foreign policy is the president.

@DanFriedman81 In the name of equity, they got rid of enriched classes. Then they stopped publicly funding IB schools. Then they made the art program by lottery rather than by audition. Wholesale destruction of genuinely meritocratic, true enablers of class mobility. For what?

@DanFriedman81 I saw this stuff when I went to high school in Canada. Used to have "streamed" programs, you could go to an IB public school, arts specialty, CS specialty etc based on testing and grades. Similarly, in regular schools you had "enriched" streams where you could learn more.

Stuy is New York’s most prestigious high school because it admits the highest-performing students as determined entirely by scores on an objective, unbiased test. Seats at Stuy are not allocated by race. They are not given out through a subjective process that can be influenced by politics or favoritism or money. The kids who got in did the best, and the kids who did not do the best cannot get in, no matter how much rich parents or woke politicians want to corrupt the fair and objective admissions competition. People like Lincoln Restler think Stuy is prestigious for reasons other than the fact that it has a rigorous objective admissions standard. He thinks the prestige these kids earned through their excellence can be redistributed to the students who are not the best that he would prefer to pretend are the best. But these students are not prestigious because they go to Stuy; Stuy is prestigious because these students go there. And if different students — inferior students— went there, then Stuy would no longer be the school that is a magnet for the smartest kids in New York and its prestige and reputation would dissipate rapidly, just like the University of California system’s has. Or maybe Restler knows this, and he just wants to destroy Stuy, because he wants to prevent these students’ talent from being measured and identified, so they can be scattered into low-performing schools where they will languish instead of having their talent cultivated. Regardless, his ideology of racial grievance and destruction is a monstrous evil masquerading as “social justice,” and it will not be tolerated.

The irony of this, thanks Anthropic

@MetacriticCap Alternative theory: There's a small subset of Pro / Max subscribers that are massively negative GM. Those are also the same people who would predominately use fable. So switch fable to API only, and magically your "worst" subscription customers turn into 50% GM.

Anthropic seems to be in a small business model issue. All their issues would be solved with a Fable-tier of Claude Max, where they apportion whatever many tokens they think it’s profitable. It’s interesting neither of the top 5 labs is willing to take the pill and make the $1,000/mo plan. For some reason, they don’t. I don’t know why.

@BryanGreenbaum There is truly not that many companies left to buy when you're throwing off CSU levels of FCF

I thought $CSU bought quality mission-critical software, not busted unicorns in one of the most competitive sectors?

@loneelmcapital If there was a way to permanently disable all Microsoft AI features I would do it. Fucking sucks. Use exclusively Claude.ai, would use Claude Code on CLI for data related stuff if we were allowed to but alas

My take on 5.6 and honestly everything in the 5.x generation is the models feel the same in intelligence and OAI compensated by cranking reasoning effort, tool calls, and subagents. Simple research task doesn't need 150 web searches and 100 subagents. Fable actually feels smart.

@50ontheDollar Buyout or distressed/credit?

@nyseSRCL Searing pro forma goodwill calcs into the inside of my skull

Monday marks my first day on the block as an RX banker. It will be a happy and fulfilling 24mo of representing down trodden minority lenders, levered portcos, melting ice cubes, ad hoc groups, and more Any and all advice, from being an analyst to buyside recruitment, from my vastly knowledgeable X network is welcomed May God be with us all, especially those without blockers

@alcherblack @AndrewCurran_ How do you know?

@nyseSRCL @AndrewCurran_ He's in there.

The AI 2027 team has written a new scenario, AI 2040.

@LongOnlyLarry Wtf is waratah doing on there? Canadian HF mentioned??

Alkeon capital holy shit. Was my dream place to work at one point

@bscholl This is the wrong way to think about it. Air defense is a system. Just because the Iranians have a handful of Chinese systems and it isn't working as intended doesn't mean the proper Chinese IADS wouldn't be able to deny much of the SCS.

Lessons from Iran and Ukraine: 1/ US and Israeli air defense systems are the only ones that actually work. Chinese and Russian systems can’t handle the F-35 or even a drone. 2/ They are also vastly too expensive and unproducable. The enemy need only outlast our stockpile.

@MichaelBCurrie @cremieuxrecueil Not believing in pangram is a sign of scientific illiteracy

@cremieuxrecueil Please stop with the Pangram pseudoscience. Next you'll be complaining that your editor has the brainpan of a stagecoach tilter.

I just wrote an article for a magazine and they sent back edits that sounded a bit off. So, I ran the edits through Pangram, and they made all my human-written text flag as AI-generated after they'd had their way with it. Honestly not feeling this magazine now!

@ConsensusGurus Nominate JD Vance and back Rubio for 2028. Two birds one stone

*JUSTICE ALITO RETIRING FROM SUPREME COURT Given the decisions this week Trump might nominate a radical right 25 year old