mikea1
Newtonian physics is 'popular' because it is easy to grasp with a high school education.
Likewise, the theories of the early David Ricardo era are easy to understand, maybe popular, but not current with academics or practitioners.
I'm rooting for him too. He doesn't have all the qualities of a classic protagonist, yet I find myself hoping that he succeeds in his madcap endeavors. I admire his grit: I would have not had his fortitude in the face of violent threats nor withstand the constant frustration.
The issue is with the Google org website: admins cannot revoke credentials for accounts/emails they cannot see.
> Because these non-Gmail Google accounts aren’t actually a member of the Google organization, they won’t show up in any administrator settings, or user Google lists.
> 7. The Creation of New gTLDs. The Green Paper suggested that during the period of transition to the new corporation, the U.S. Government, in cooperation with IANA, would undertake a process to add up to five new gTLDs to the authoritative root.
https://www.ntia.gov/federal-register-notice/statement-polic...
Maybe there are too many new TLDs?
I had the opposite understanding about the article. Steve Jobs was an extraordinary leader who through immense will power created good products; an attempt to replace someone like Jobs as the product manager with an ordinary person will result in a mediocre product.
> If ICANN were to put every TLD out for bid every renewal cycle to give it to the lowest bidder there would be no incentive for registry operators to invest in long-term stability and growth of the TLD(s) they operate.
https://domainnamewire.com/2023/08/16/icann-says-putting-tld...
I find it odd that "growth" is a justification. I was unaware that ICANN has a mandate to promote growth of specific TLDs.
These justifications, especially of "stability", make more sense to me in the context of the root DNS server that Verisign operates. Verisign would not agree to run a critical part of DNS infrastructure without a big TLD contract. I'm certain that maintaining and running those DNS servers with 100% uptime is an engineering accomplishment and its stability requires safe hands.
Porkbun doesn't make money when you buy a domain name, but they may make money when you do not renew it:
> At about 21 days into the Auto-Renew Grace Period, the expired domain will be submitted to third-party auction services.
https://kb.porkbun.com/article/37-what-happens-after-a-domai...
Other registrars, like GoDaddy, do this too.
[0] https://developer.chrome.com/docs/devtools/network/reference...
For example, perhaps the lesser-evil argument played a role in the decision process: would a world where deep fakes are ubiquitous and well-known by the public be better than a world where deep fakes have a potent impact because they are generated seldomly and strategically by a handful of (nefarious) state sponsors?
I disagree. Database engines take SQL and transform it into an execution plan that takes into consideration database metadata (size, storage, index analytics, etc.). Queries should be thought of with a _set based_ instead of _procedural_ approach to maximize the benefits of this abstraction - diving into the implementation details to guide the execution plan formation only when necessary.
Also, the pipeline approach could be achieved with common table expressions (CTEs), right?
That said, I think PRQL looks promising because it is a solid attempt to make RDBMS development more approachable. I also like that `from` comes before `select`: it is far more readable. A solid and modern IDE experience for PRQL could be a "killer app".
https://www.verisign.com/assets/icannrestricted/idn-icann-re...
The rollout of the lightbulb significantly reduced the economic potential of candlemakers, but it improved the quality of life for society overall. So, whether technological advancement is a "good thing" depends on which group you are in: the one with obsolete skills or the one that benefits from cheaper and/or better goods and services. Either way, the overall economy benefits from creative destruction.
It's slightly more complicated: hourly wage is the greater of ($3 + tips) or (standard minimum wage). So, the effective minimum wage is still the standard minimum wage.
> Both are trivially hacked, multiple ways.
I'm genuinely curious how it is trivial to "control [authoritative] name resolution relative to a viewer".
This is key: Colorado has far more libertarian-conservatives than social-conservatives. It comes from the Western ideal of "pull yourself up by your own bootstraps." Libertarians are "classical liberals" and value individualism, so they do not push for government-sponsored restrictions. The conservatives in many other states are socially-conservative and legislate to preserve their social values and cozy business interests.
This is an interesting idea. The problem with a single lender is that it removes incentives for good customer service and (sometimes) good products. Monopolies, whether public (DMV) or private (your local cable company) are universally hated. It would be difficult to design the right incentives for the government to provide a good product.
I think the main disconnect is that deposit banks never operated as a glorified vault. Lending against deposits is supposed to be understood by anyone entering that agreement. I understand why it may be a surprise when you first learn about fractional reserves because it may not fit an existing mental model. Instead, it seems unfair that a bank can create money. But it's not. Money supply and money velocity is a term used by economists to describe how much and how quickly money exchanges hands. The world's accounting books, with all debits and credits, always sum to the same total: however much money the central bank has printed.
There are a lot of benefits of the current system (liquidity, virtual guarantee of withdrawal, conveniences). Your proposal would replace a system where you receive a small income from your deposits to a system that steadily decreases the size of your deposits; I think that would be a hard sell.
Those are Certificates of Deposit.
> they didn’t seem to get in trouble due to fractional reserve lending but from the liquidity of their assets.
It was the opposite. SVB had over-invested in long-term US treasuries, which are extremely liquid, but were falling in price due to the rapid increase of interest rates. If not for withdrawals squeezing their reserve, SVB could hold onto those treasuries until maturity and get back 100% of their principle.
---
I think the disconnect is that savings accounts are not popularly well understood. People are shocked when they understand that the money they deposited is not sitting in a big vault.
You could tweak fractional reserves to be 20% (or 80%) of deposits, but that comes at a cost too. For example, it would create scarcity of money available for lending, which in turn would make loans more expensive (e.g., higher interest rate mortgages could double the cost of home ownership.)
The current system prevents the worst of bank runs by covering a good chunk of assets with insurance (FDIC in the US). It's a system that allows banks to fail and protect customer deposits.
The collapse of SVB was not a "catastrophe" because the banking system is intended to let banks fail. The alternative is far worse.
How could a bank lend _any_ money if it must reserve 100% of deposits as cash?
> they are printing money and decide who can borrow and who cannot, without democratic oversight
I do not understand how regulations are equivalent to democracy. Either way, banks are heavily regulated in the G7 countries. Such regulation was thought to exacerbate the mortgage crisis of 2008 because regulations created incentives to offer mortgages to people who should not have qualified.
Supply and demand of deposits and loans creates a competitive market - banks operate with razor thin margins.
I still do not know how you would improve upon the current system.
I don't understand how it's fraud. Banks could not lend at all if they must retain 100% of deposits.
On the lending side, it would hurt everyday people and the economy if banks could not lend. Loans are important for homeowners (mortgages) and for businesses of all sizes (research and development).
On the savings side, your community bank provides incredible guarantees with your deposit that are difficult to find elsewhere: deposits are very liquid, principle is virtually guaranteed, and convenience in routing the money wherever you direct it.
What would a better system look like?
It's about power. From the article:
> Communist authorities dislike the idea of anything, let alone a large private business, outshining the party. And the country’s leaders bristled at the high profile of Alibaba’s founder, Jack Ma, an icon of Chinese enterprise who every now and again dared question their decisions.