613 karma · joined November 2, 2022
1. The New York City Sq Mileage number includes water.
2. Density for each of these cities varies widely by community. For example, 6% of Chicago's sq mileage is in the O'Hare community, which has a population density of 1000 residents per square mile. A better comparison would be Chicago vs. the Bay Area
You'd probably have to compare areas of similar population density to make a serious statement.
These depositors knew that and still acted irresponsibly, yet they are going to be made whole. It’s not that much different from taking out a loan you don’t understand.
Mercury provides services and a frontend, but their banking services are provided by Choice Financial and Evolve.
Brex is also not bank. The Brex business account is an FDIC Sweep account, which constantly moves your balances across multiple banks to keep you within the FDIC limits.
"Why are there so many small services running? Surely we can shut down / delete/ merge together a bunch of them to clean things up"
I'm pretty sure Elon has also hit this fallacy during his tenure at Twitter.
Edit: NVM, the article says it was Plex
> Low confidence generally means questionable or implausible information was used, the information is too fragmented or poorly corroborated to make solid analytic inferences, or significant concerns or problems with sources existed [1]
I also doubt the people you have in mind have enough financial capital to really force everyone’s hand _unless_ their arguments are actually persuasive
But even if I accept it as true, it doesn’t contradict point 2, which is that investors think they’ll see better or more stable returns
1. They believe there is investor demand for funds that take environmental and social impact into account
2. They believe that companies with better environmental, governance, and social Impact ratings will have higher or more stable returns over time
You can disagree, but I think there are good arguments to be made for both of those points.
That said, I'm not sure these articles are intended to improve treatment options. Rather, the goal seems to be eliminating transgender care altogether.
1. The study on Rapid-onset gender dysphoria could be flawed -- it asked parents, and not youths themselves, which might skew the data on the prevalence and incidence of gender dysphoria
2. The number of transgender youth in the US is small[1], estimated at around 300,000. A small absolute increase would result in a large relative increase, even though transgender-identifying youth are a small percent of the population
3. Improved acceptance, awareness, diagnostics and treatment may result in transgender youth seeing more options for themselves, and thus being more public in announcing their status or seeking treatment. It's not that more people are trans or genderfluid, but rather that they're more comfortable being public with their status
[1] https://williamsinstitute.law.ucla.edu/publications/trans-ad...
SORKIN: I think the question is whether you supposed to have access to these accounts to begin with. If I worked at a bank and was a bank teller and I decided to leave the bank at the end of the evening and take the cash that I ostensibly had access to, even if I intended to bring it back to the bank later or with even more money to give them back — I still stole that money.
The full transcript is here: https://www.nytimes.com/2022/12/01/business/dealbook/sam-ban...
So instead of people taking a close look at the crypto space and saying "wait, maybe a lot of these other projects are flawed", their anger gets focused on the press and the regulators. It's pretty ridiculous when you think about it -- is the NYTimes really responsible for FTX because the tone of their pieces wasn't sufficiently harsh? I'm skeptical.
I have no power to "weaponize" this, but it's entirely reasonable to question the judgement of how someone uses their speech
- commingling of funds between Alameda and FTX
- conflicts of interest between the two, including SBF's relationship with the CEO
- use of customer deposits to pay off loans for Alameda
- that FTX and SBF are under investigation
> But he would offer only limited details about the central questions swirling around him: whether FTX improperly used billions of dollars of customer funds to prop up a trading firm that he also founded, Alameda Research. The Justice Department and the S.E.C. are examining that relationship.
> Alameda had accumulated a large “margin position” on FTX, essentially meaning it had borrowed funds from the exchange, Mr. Bankman-Fried said. “It was substantially larger than I had thought it was,” he said. “And in fact the downside risk was very significant.” He said the size of the position was in the billions of dollars but declined to provide further details.
> Around the time the crypto market crashed this spring, Ms. Ellison explained, lenders moved to recall those loans, the person familiar with the meeting said. But the funds that Alameda had spent were no longer easily available, so the company used FTX customer funds to make the payments. Besides her and Mr. Bankman-Fried, she said, two other people knew about the arrangement: Mr. Singh and Mr. Wang.
https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankma...
Feds were probably gathering evidence from Day 1, and the restructuring CEO seems to have found it: https://docs.house.gov/meetings/BA/BA00/20221213/115246/HHRG...