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Search resuls for: "Andy Kessler"


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SBF Faces Prison, but ‘Effective Altruism’ Lives On
  + stars: | 2024-01-15 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson, Jason Riley and Dan Henninger. I was looking forward to the March trial and seeing the politicians who accepted the convicted fraudster’s donations squirm like worms. Beyond trying to stave off crypto regulations, he was shoveling millions to the effective-altruism movement, which continues to infiltrate governments more than most people realize. With SBF facing a long term in the big house, has effective altruism landed on the ash heap of history? Did you know proponents of the movement basically wrote the Biden administration’s recent executive order on artificial intelligence?
Persons: Kim Strassel, Kyle Peterson, Jason Riley, Dan Henninger, Mark Kelly, Sam Bankman Organizations: Getty, Justice Department, Biden
Magic Pills Are Coming
  + stars: | 2023-11-27 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
At healthcare conferences, someone always asks, “What if there was a magic pill?” One that could cure major diseases. Inevitably, the discussion ends with, “But, of course, there is no magic pill.” So we spend, spend, spend on healthcare, from $1.4 trillion in 2000 in the U.S. to more than $4.3 trillion—18% of the economy—in 2021. These treat but don’t cure diseases. Plus, two-thirds of American adults are overweight or obese, which puts them at greater risk for many chronic diseases such as heart disease and stroke. According to the National Institutes of Health, “86% of health care costs are attributable to chronic disease.”
Persons: Kim Strassel, Allysia Finley, Dan Henninger, Organizations: National Institutes of Health Locations: U.S
Is the U.S. Ready for War?
  + stars: | 2023-11-20 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
Wonder Land: For Hamas in Israel and Putin in Ukraine, killing the innocent is now part of the plan. Hamas terrorists used motorcycles and paragliders. Israeli soldiers use sophisticated Iron Dome antimissile systems and, to close off tunnels, “sponge bombs” that work like spray foam sealant from Home Depot . Is the U.S. ready for that kind of war? Current wars have exposed the Pentagon’s “brittleness and lack of resiliency, and that’s in part going back to the drawdown during the Clinton era.”
Persons: Putin, Mark Kelly Ukraine’s, Arkansas Sen, Tom Cotton —, , , Clinton Organizations: Zuma, Home, Arkansas, 101st Airborne Division, Armed Services Committee, Defense Department Locations: Israel, Ukraine, U.S, Iraq
Autonomous Cars Beat EVs
  + stars: | 2023-11-19 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
Journal Editorial Report: The week’s best and worst from Bill McGurn, Kate Bachelder Odell, Mene Ukueberuwa, and Kim Strassel. And given high prices for EVs, subsidies are mainly a giveaway to the already well-off. If you add up carbon emissions from manufacturing, daily use and end of life, EVs have total life-cycle emissions 30% lower than gasoline-powered autos. In Silicon Valley, something is considered truly transformational if it’s 10 times better, not a third. Instead of throwing taxpayer money at EVs, President Biden could have been a hero and helped bring autonomous vehicles to the market faster.
Persons: Bill McGurn, Kate Bachelder Odell, Mene Ukueberuwa, Kim Strassel, Mark Kelly, Ford, Biden Organizations: Getty, Honda, General Motors Locations: Silicon, EVs
Is AI a Painkiller or a Vitamin?
  + stars: | 2023-11-05 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: The week’s best and worst from from Kyle Peterson, Mary O’Grady and Dan Henninger. Images: AP/Zuma Press/Reuters Composite: Mark KellyLast week, the White House issued an executive order for command and control of artificial intelligence, strangely invoking the Defense Production Act. Added to the order were a mishmash of unhelpful notions like “advancing equity” and collective bargaining. It feels longer, with so many new players and capabilities beyond text, including open-source large language models that run on PCs and maybe on phones. Will generative AI take our jobs?
Persons: Kyle Peterson, Mary O’Grady, Dan Henninger, Mark Kelly, Biden, It’s, OpenAI’s ChatGPT Organizations: Zuma Press, Reuters, White House
Three Ideas to End Tent Cities
  + stars: | 2023-10-30 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Images: AFP/Getty Images/Zuma Press Composite: Mark KellySan FranciscoWhy are FBI agents raiding homeless tents in San Francisco? Despite the city’s spending billions on homelessness, the number of “unhoused”—as progressives say—has continued to soar alongside crime and opioid deaths. The tent encampments littering its streets have made the city a laughingstock. Los Angeles, San Jose, San Diego, Seattle, Portland, Ore., and others also have tent cities. How can this be in the world’s wealthiest country?
Persons: Mark Kelly San, Organizations: Getty, FBI Locations: United States, Mark Kelly San Francisco, San Francisco, Los Angeles, San Jose, San Diego, Seattle, Portland, U.S
The Rise and Fall of SBF
  + stars: | 2023-10-02 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: The week's best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: AP/AFP/Getty Images Composite: Mark KellyI first got to know author Michael Lewis, then of “Liar’s Poker” fame, when in the mid-1990s I took him around Silicon Valley in an old beat-up convertible. I told stories and showed him where the first integrated circuit and microprocessor were invented, plus Xerox Parc and its beanbag chairs, Hewlett Packard and Intel. As we drove around, I shared my history with entrepreneur Jim Clark, his time at Silicon Graphics and early days with Netscape, and of the venture capitalist Glenn Mueller, who committed suicide after being denied access to invest.
Persons: Kim Strassel, Bill McGurn, Dan Henninger, Mark Kelly, Michael Lewis, , Hewlett, Jim Clark, Glenn Mueller Organizations: Getty, Xerox Parc, Hewlett Packard, Intel, Silicon Graphics, Netscape Locations: Silicon
Why Is Anxiety Rising?
  + stars: | 2023-09-25 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
Makers vs. Taylor Swift Shakers
  + stars: | 2023-09-11 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Zuma Press/EPA/Shutterstock Composite: Mark Kelly“I think Taylor Swift is great for the soft landing,” Columbia Business School economist Brett House declared in the New York Times . Not wanting a recession, I almost rushed out and bought $1,000 tickets and $25.99 friendship bracelets, but then I remembered that isn’t how the economy works. There are two sides of the economy: the productive side and the spend side. We have makers and, appropriate to Swifties, shakers.
Persons: Kim Strassel, Kyle Peterson, Dan Henninger, Mark Kelly “, Taylor Swift, Brett House Organizations: Zuma Press, Columbia Business School, New York Times
Disney Makes a Mickey Mouse Mistake
  + stars: | 2023-08-14 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
The Innovation Cage Match
  + stars: | 2023-07-17 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
For the first time since 1960, the TV and movie unions representing actors and writers are on strike over issues including better pay on streaming platforms like Netflix, Disney+ and Amazon Prime. Images: Zuma Press/AP/Getty Images/Reuters Composite: Mark KellyThe mystical and probably mythical Elon Musk-Mark Zuckerberg cage fight, which could perhaps be held in Rome’s Colosseum, is beyond stupid and would probably be nothing more than a rich slap contest. But it got me thinking about competition and why it so often happens in pairs, from Cain vs. Abel to ChatGPT vs. Bard and now Twitter vs. Threads.
Persons: Mark Kelly, Elon, Mark Zuckerberg, Cain, Abel, ChatGPT, Bard Organizations: Netflix, Disney, Amazon Prime, Zuma Press, Getty, Twitter
The Bidenomics Blather
  + stars: | 2023-07-10 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
The High Cost of Losing Elections
  + stars: | 2023-06-26 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
How United Became an Airline
  + stars: | 2023-06-19 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
Can the Climate Heal Itself?
  + stars: | 2023-06-05 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Andy Kessler is the author of Inside View, a column he writes for The Wall Street Journal on technology and markets and where they intersect with culture. He won the 2019 Gerald Loeb Award for commentary. He is the author of several books including Wall Street Meat and Eat People. He used to design chips at Bell Labs before working on Wall Street for PaineWebber and Morgan Stanley and then as a founder of the hedge fund Velocity Capital.
Persons: Andy Kessler, Gerald Loeb, Morgan Stanley Organizations: Wall, Bell Labs, Velocity Capital Locations: PaineWebber
Artificial Intelligence in the Garden of Eden
  + stars: | 2023-04-21 | by ( Peggy Noonan | ) www.wsj.com   time to read: +1 min
I took my grade-school son, enthralled by Apple computers, to see Steve Jobs speak at a raucous convention in New York almost a quarter-century ago. Which made me think of Adam and Eve in the garden, Adam and Eve and the fall, at the beginning of the world. God told them not to eat the fruit of the tree, but the serpent told Eve no harm would come if she did, that she’d become like God, knowing all. When God rebuked them, Adam blamed Eve and Eve blamed the serpent. They were banished from the garden into the broken world we inhabit.
A Wrench Thrown Into Capitalism
  + stars: | 2023-04-17 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
I’m pretty sure we’ve hit peak absurdity. I recently read about a climate author “investigating how shade can be a powerful civic resource to protect us from climate change.” Shade! This from the announcement of a new “climate cohort” at a well-regarded philanthropy. It reveals a flaw in capitalism. Not a single scientist can be found in the climate cohort—why bother?—but instead authors, educators, designers, a poet and, hmmm, a chef.
The Economy Gets Wrung Out
  + stars: | 2023-03-27 | by ( Andy Kessler | ) www.wsj.com   time to read: +1 min
You don’t just lose Silicon Valley Bank, Signature Bank (used by fake heiress Anna Delvey) and Credit Suisse in a week without repercussions. And yes, the Federal Reserve has rolled out a new Bank Term Funding Program that offers banks one-year loans against underwater Treasurys and mortgage-backed securities at par value. Last week the Federal Reserve announced a currency-swap line, basically to help foreign banks. First Republic Bank ’s stock has fallen 90% in three weeks as depositors pulled their money. Unfortunately, it doesn’t have many of the bonds that the Fed’s Bank Term Funding Program will loan against, hence the $30 billion in “deposits”—almost charity—from 11 large banks.
Some Republicans blamed "woke" investment strategies for Silicon Valley Bank's downfall. Economists and banking experts so far have chalked up Silicon Valley Bank's failure to much more apolitical circumstances. Silicon Valley Bank then had to sell its assets at a loss to fork over cash it didn't have, an increasingly untenable chain reaction that ended only when regulators shut the institution down. Regulators closed the Silicon Valley Bank on Friday, a stunning break to a period of relative banking stability in the wake of the 2008 financial crisis. "I don't know if making money's now woke," Baker said.
Who Killed Silicon Valley Bank?
  + stars: | 2023-03-12 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
That giant slurping sound on Friday was Silicon Valley Bank imploding. America’s 16th-largest bank had some $175 billion in deposits and disappeared by breakfast. This was a 21st-century bank run—customers tried to withdraw about $42 billion, a quarter of all deposits. In January 2020, SVB had $55 billion in customer deposits on its balance sheet. Yes, SVB was a victim of its own success.
The Rise of Kickback Capitalism
  + stars: | 2023-03-06 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
“I’m a capitalist,” President Biden said in the State of the Union address. He then added, “But pay your fair share.” He’s missing the fashionable modifiers for capitalism: late, sustainable, patrimonial, state-directed. Real capitalism is, by definition, a meritocracy in which money flows to those providing the highest returns. America’s rugged individualism makes it most compatible with real capitalism. But now we’ve entered an era of kickback capitalism, which has created a mangy mob of meritless mooches.
How ChatGPT’s AI Will Become Useful
  + stars: | 2023-02-27 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
In the rudimentary days of videogames, I met the team that created the first multiplayer Formula 1 Grand Prix racing game. Gives new meaning to the Facebook motto: Move fast and break things. That’s exactly what’s going on with the newfangled generative AI chatbots. A New York Times reporter was “thoroughly creeped out” after using Microsoft Bing’s chatbot. In 2016 Microsoft had to shut down its experimental chatbot, Tay, after users turned it into what some called a “neo-Nazi sexbot.”
Can ChatGPT Write This Column?
  + stars: | 2023-01-23 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
With every new piece of technology—today it’s generative artificial intelligence like OpenAI’s ChatGPT—I’m fascinated by the possibilities but always ask: Will it scale? So how do you figure out what works and what’s a dud? ChatGPT uses machine learning to find patterns of patterns in training data, mostly written by humans, to produce human-sounding prose in response to prompts. Machine learning is the greatest pattern-recognition system ever invented. It’s why Alexa’s voice interface works and how Google can find you in photos from when you were 3.
The Voting Bloc Against Bossiness
  + stars: | 2023-01-09 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
Their mantra is simple: Don’t tell me what to do, hence the name. Oppositional defiant disorder, which, according to Johns Hopkins Medicine, is a behavior disorder, often in children who “are uncooperative, defiant, and hostile toward peers, parents, teachers, and other authority figures.” Yeah, I’ve got that. Also add: Don’t tell me what to say, to think, to pay. Don’t tell me what to do. I don’t think so.
Lincoln, Douglas and Netflix
  + stars: | 2023-01-02 | by ( Andy Kessler | ) www.wsj.com   time to read: 1 min
I just finished streaming the latest season of “The White Lotus.” And “House of the Dragon,” “The Peripheral,” “The Crown,” “Andor,” “The Rings of Power” and too many more. What a change from May 1961, when Newton Minow , chairman of the Federal Communications Commission, called television a “vast wasteland.” Or 1992, when Bruce Springsteen sang “57 Channels (and Nothin’ On).”Many shows exist only because computer-generated imagery can create otherworldly landscapes and gravity-defying creatures. Like it or not, Silicon Valley owns Hollywood. Well, not literally, but clearly today’s Hollywood wouldn’t exist without Silicon Valley’s streaming technology and high-end graphics. As these two industries continue to merge, which will become more dominant driving society and culture?
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