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‘They couldn’t even scream any more. They were just sobbing’: the amateur investors ruined by the crypto crash

Fuelled by hype and hysteria, the market in bitcoin and other cryptocurrencies went from an obscure niche to a $3tn industry. Then the house of cards collapsed

Click to view the original at theguardian.com

Hasnain says:

“But it seems likely that, just as in the 2008 financial crash, the bad-faith actors who exacerbated this meltdown will walk away unscathed. What’s more, many of the investors who bought into the cryptocurrency boom did so to claw back security after a decade racked by recession and uncertainty. Koh was one of those. “I was lucky to keep my job, but I was really angry at the suits, at the bankers, at the high‑bonus people,” he says. “The whole space of crypto was about giving normal people the option to gain the upper edge in society financially. It was a beacon of hope. We could ride the next big thing. But that beacon of hope has been put out for now. The trust has been broken. Yet again, sitting here, in decade number two, the bankers have won again.”

Future generations may look back at this boom as a period of mania, when money multiplied like bacteria and a collective delusion gripped financial markets. It may seem unfathomable, but it shouldn’t. After all, who doesn’t want to be rich?”

Posted on 2022-07-12T23:18:50+0000

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The U.S. May Be Losing the Fight Against Monkeypox, Scientists Say

Longstanding weaknesses in the public health system are giving the virus a chance to become entrenched.

Click to view the original at nytimes.com

Hasnain says:

“Public health in the United States generally is woefully underfunded and understaffed, said Janet Hamilton, executive director of the Council of State and Territorial Epidemiologists.

Although Covid brought more money into public health coffers, those funds cannot be used for anything else. “We cannot function at the level I think that the public needs and expects us to if we’re going to always be so categorically funded,” she said. “We’re not learning this lesson for the first time.””

Posted on 2022-07-12T17:07:32+0000

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‘They are preparing for war’: An expert on civil wars discusses where political extremists are taking this country

Author Barbara F. Walter sees echoes of Nazi Germany in polarized America.

Click to view the original at washingtonpost.com

Hasnain says:

This was a scary read from someone who studies civil wars across the globe. It’s from march and things have only gotten worse since.

“The analogy is smoking. If I started smoking today, my risk of dying of lung cancer or some smoking-related disease is very small. If I continue to smoke for the next 10, 20, 30, 40 years, my risk eventually of dying of something related to smoking is going to be very high if I don’t change my behavior. And so I think that’s one of the actually optimistic things: We know the warning signs. And we know that if we strengthen our democracy, and if the Republican Party decides it’s no longer going to be an ethnic faction that’s trying to exclude everybody else, then our risk of civil war will disappear. We know that. And we have time to do it. But you have to know those warning signs in order to feel an impetus to change them.”

Posted on 2022-07-09T16:49:50+0000

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Hasnain says:

This was interesting and worth reading. And a parallel that I’m sure a lot of tech employees across the industry will find themselves relating to. The later part on banning creatives from even getting input from ERGs was eyebrow raising.

“Some of Sarandos’ lieutenants were similarly resistant to feedback, particularly from Los Gatos staffers. What expertise did techies have in making movies? Over time, it started to feel as if Netflix were two separate companies: the feedback-friendly tech organization, where everyone had an opinion on everything, and the top-down Hollywood studio, where executives had the final word.

Cureton, the engineer who had been rewarded for sharing tough feedback early on in his tenure, moved from the product to the studio organization and immediately found it less open to criticism. When he tried to fix technical problems outside his scope of work, he was warned to mind his own business. Eventually, he was fired. “Too much feedback and being out of my lane too often were the reasons I was given,” he says.”

Posted on 2022-07-08T04:45:23+0000

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EU parliament votes to condemn overturning of Roe v. Wade

The U.S. "has clearly shown why we must use every tool available to safeguard abortion rights" in the EU.

Click to view the original at axios.com

Hasnain says:

Been a while since I recall the EU (rightly!) condemning the US.

“The European Parliament voted 324-155, with 38 abstentions, to condemn the U.S. Supreme Court's overturning of Roe v. Wade and demand that abortion rights be enshrined in the EU’s fundamental rights charter.”

Posted on 2022-07-08T02:17:03+0000

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EU Approves Landmark Legislation to Regulate Apple and Other Big Tech Firms

European Union lawmakers have approved landmark legislation to heavily regulate Apple, Google, Meta, and other big tech firms. The Digital Markets...

Click to view the original at macrumors.com

Hasnain says:

This is great.

“The DMA says that gatekeepers who ignore the rules will face fines of up to 10 percent of the company's total worldwide annual turnover, or 20 percent in the event of repeated infringements, as well as periodic penalties of up to 5 percent of the company's total worldwide annual turnover. Where gatekeepers perpetrate "systematic infringements," the European Commission will be able to impose additional sanctions, such as obliging a gatekeeper to sell a business or parts of it, including units, assets, intellectual property rights, or brands, or banning a gatekeeper from acquiring any company that provides services in the digital sector.

So far, Apple has heavily resisted attempts by governments to enforce changes to its operating systems and services. For example, Apple simply chose to pay a $5.5 million fine every week for months in the Netherlands instead of obey orders from the Authority for Consumers and Markets (ACM) to allow third-party payment systems in Dutch dating apps.”

Posted on 2022-07-06T03:58:23+0000

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Hello, World! - Zerodha Tech Blog

TLDR: 30 member tech team formed over seven years built India's largest stock broker. Unconventional setup. The long pending tech blog is finally here. Some backstory and context.

Click to view the original at zerodha.tech

Hasnain says:

Great read. Goes into tech as well as business best practices. A harkening back to the good old days where a small team could build and ship amazing products. Worth learning from for sure.

“That a 30 member tech team has built and scaled a complex financial + stock broking stack from the ground up, built a whole suite of financial software for end users that people actually appreciate in an extremely complex, constraining, and rapidly changing regulatory environment, with zero prior industry knowledge, is quite a feat. More of an anomaly than a feat. I, however, find it natural and poignant that a group of hackers in the right environment guided by the right philosophies can be incredibly creative and productive, even in a place as unfashionable and uncool as the Indian stock broking industry. What used to be the norm—small groups of hackers building good software—has now transmogrified into being the exception.”

Posted on 2022-07-06T03:57:08+0000

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Lessons From 40 Men in Egalitarian Relationships

In many households, men think like helpers and women think like managers. A gender expert’s new book suggests ways for couples to escape that dynamic.

Click to view the original at theatlantic.com

Hasnain says:

This was a great interview, and I should probably go ahead and look for the book now. Goals to strive for.

“Some of her observations are derived from an enlightening series of interviews she did with 40 men—most of them American and most of them in committed relationships with women—who are truly equal partners, which Mangino defines as “intentionally [taking] on half the physical and emotional load of their household.” (Finding these equal partners was a challenge; many men who initially identified themselves as such to Mangino became ineligible after their partner said otherwise.) I recently spoke with Mangino about what she learned from these couples and others.”

Posted on 2022-07-03T04:18:52+0000

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As Ohio restricts abortions, 10-year-old girl travels to Indiana for procedure

After the Supreme Court overturned Roe v. Wade, it's left some in Ohio to travel outside the state for an abortion. Among them is a 10-year-old girl.

Click to view the original at dispatch.com

Hasnain says:

No words, really.

“On Monday three days after the Supreme Court issued its groundbreaking decision to overturn Roe v. Wade, Dr. Caitlin Bernard, an Indianapolis obstetrician-gynecologist, took a call from a colleague, a child abuse doctor in Ohio.

Hours after the Supreme Court action, the Buckeye state had outlawed any abortion after six weeks. Now this doctor had a 10-year-old patient in the office who was six weeks and three days pregnant.

Could Bernard help?

Indiana lawmakers are poised to further restrict or ban abortion in mere weeks.”

Posted on 2022-07-02T00:16:42+0000

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Fuzzing rust-minidump for Embarrassment and Crashes – Part 2 – Mozilla Hacks - the Web developer blog

For the last year, we've been working on the development of rust-minidump. The final part in this series takes you through fuzzing rust-minidump.

Click to view the original at hacks.mozilla.org

Hasnain says:

This was a great technical read that explains fuzzing and goes into some of the found issues. I do recommend reading part 1 first - I read it a few weeks ago and was waiting for part 2!

“I think we’ve all heard stories of someone running a shiny new tool on some big project they know nothing about, mass filing a bunch of issues that just say “this tool says your code has a problem, fix it” and then disappearing into the mist and claiming victory.

This is not a pleasant experience for someone trying to maintain a project. You’re dumping a lot on my plate if I don’t know the tool, have trouble running the tool, don’t know exactly how you ran it, etc.

It’s also very easy to come up with a huge pile of issues with very little sense of how significant they are.

Some things are only vaguely dubious, while others are horribly terrifying exploits. We only have so much time to work on stuff, you’ve gotta help us out!

And in this regard 5225225’s contributions were just, bloody beautiful.

Like, shockingly fantastic.”

Posted on 2022-07-01T04:58:36+0000