#cryptocurrency mark

[payntake-payn]

Bitcoin đang trên con đường trở thành tài sản dự trữ toàn cầu, theo Mark Cuban

Được viết bởi Aaron S., Tổng biên tập ✓ Đã kiểm tra thực tế Những điểm chính Mark Cuban tin rằng Bitcoin có thể trở thành tài sản dự trữ toàn cầu; Cuban cho rằng sự ủng hộ của giới tinh hoa Thung lũng Silicon đối với nhiệm kỳ tổng thống của Trump báo hiệu sự chuyển hướng sang Bitcoin; Ông dự đoán giá trị của Bitcoin có thể tăng đột biến do lạm phát, sự bất ổn toàn cầu về vai trò địa chính trị…

[exactlydistinguishednerd]

Selena Gomez

##https://yessiey.com/##

##https://yessiey.com/##

Skilzar

Are you ready to add some sweetness and excitement to your life? Then get ready for Mylifeassugar! This blog post is packed with all sorts of interesting topics, from music and celebrities to technology and politics. Whether you're a fan of Nigerian musicians like Davido and Reekado Banks, or interested in global issues such as cryptocurrency and fintech, there's something here for everyone. So sit back, relax, and enjoy the sugar rush that comes with reading about all these fascinating subjects!

Aniitablonde

Aniitablonde is a rising star in the beauty and fashion industry. Her Instagram page is filled with stunning photos of her various makeup looks, which range from natural to bold and colorful. She has a knack for creating unique eye-catching styles that make heads turn.

One thing that sets Aniitablonde apart from other influencers is her commitment to empowering women. She often shares inspiring messages about self-love and confidence alongside her makeup tutorials. Her followers appreciate this positive attitude, as well as her genuine personality.

Aniitablonde's popularity on social media has also led to collaborations with several brands. She recently worked with luxury hair company KinkyCurlyYaki, promoting their high-quality extensions on her page.

Aniitablonde's talent and positivity have made her stand out among the crowded world of influencers. We can't wait to see what she does next!

Davido

Davido, also known as David Adeleke, is a Nigerian musician and record producer. He was born on November 21, 1992 in Atlanta, Georgia but grew up in Lagos Nigeria.

He rose to fame with his hit single "Dami Duro" which gained massive airplay across the continent. Since then he has continued to release chart-topping hits such as "Fall", "If", and "FEM".

Aside from music, Davido is also known for his philanthropic acts. He started the Davido Foundation which focuses on providing education and clean water to underprivileged children in Nigeria.

Furthermore, he has collaborated with international artists like Chris Brown and Meek Mill which shows how influential he is becoming not just within Africa but globally too.

Davido's contribution to African music cannot be overstated as he continues to break boundaries while staying true to his roots.

Davido

Davido is a Nigerian singer, songwriter and record producer. He was born in Atlanta, Georgia but raised in Lagos, Nigeria. Davido started making music at a young age and released his debut album "Omo Baba Olowo" in 2012.

Since then, Davido has become a household name in the Nigerian music industry and has collaborated with various local and international artists such as Chris Brown, Meek Mill and Summer Walker.

Apart from his successful music career, Davido is also known for his philanthropic efforts. In 2020 alone, he donated millions of naira to support COVID-19 relief efforts in Nigeria.

Davido's influence extends beyond just music as he has also been actively involved in politics. During the 2018 governorship elections in Osun State, Nigeria, he campaigned heavily for Ademola Adeleke who ran under the Peoples Democratic Party (PDP).

Davido's impact on the Nigerian entertainment scene cannot be ignored. He continues to make great strides both musically and socially which further cements his place as one of Nigeria's biggest stars.

YouTube

YouTube is one of the most popular video-sharing platforms in the world, with over 2 billion monthly active users. It was founded in 2005 by three former PayPal employees and later acquired by Google. The platform has become a hub for content creators to showcase their talents and engage with an audience.

One of YouTube's unique features is its recommendation algorithm that suggests new videos based on the user's watch history. This feature has been criticized for leading viewers down a rabbit hole of recommended videos, sometimes resulting in harmful or misleading content being promoted.

However, YouTube continues to be a valuable resource for learning and entertainment alike. From educational channels like Crash Course and TED-Ed to comedy skits from creators like Lilly Singh and Trevor Noah, there's something for everyone on this platform.

Moreover, it continuously evolves as more people use it every day. Many businesses have also turned to YouTube as a means of promoting their products or services through advertisements or influencer collaborations.

While concerns about misinformation and inappropriate content persist, there's no denying that YouTube remains a powerful force in online media consumption.

ChatGPT

ChatGPT is an online platform that provides a unique opportunity for people to connect with others from different parts of the world. This innovative platform allows individuals to engage in meaningful conversations and exchange ideas on various topics, including art, culture, science, and technology.

One of the significant advantages of ChatGPT is its intuitive user interface. The site's layout is easy to navigate, making it simple for users to find what they're looking for without any difficulties.

Moreover, ChatGPT prioritizes users' privacy by implementing robust security measures designed to protect their personal information. As such, visitors can confidently engage in discussions without worrying about data breaches or cyber attacks.

Another remarkable feature of ChatGPT is its chatbot system that helps improve communication between members. Users can get instant answers to their questions through this system that saves time and makes engagement more effective.

ChatGPT presents a fantastic opportunity for people worldwide to connect with each other and share knowledge across various fields while enjoying the experience securely and efficiently.

Yoga

Yoga is an ancient practice that originated in India over 5,000 years ago. It involves physical postures, breathing techniques and meditation to promote overall health and wellbeing.

One of the main benefits of practicing yoga is stress reduction. The deep breathing techniques used during a yoga session can help calm the mind and reduce feelings of anxiety or stress.

Another benefit of regular yoga practice is improved flexibility and strength. Yoga postures are designed to stretch and strengthen different muscles in the body, helping to improve balance, posture and overall physical health.

Yoga has also been shown to have positive effects on mental health conditions such as depression and insomnia. Regular practice may help alleviate symptoms by promoting relaxation, reducing negative thoughts patterns, improving sleep quality and increasing self-awareness.

Incorporating yoga into your daily routine can have numerous benefits for both the mind and body. Whether you're looking to reduce stress levels or increase physical strength, there's always something new to discover through this ancient practice.

Cryptocurrency

Cryptocurrency has been a hot topic lately, with Bitcoin leading the charge. While some people view it as a revolutionary alternative to traditional banking and investing methods, others remain skeptical about its long-term viability.

One of the main benefits of cryptocurrency is its decentralized nature - meaning that it operates without a central authority like a bank or government. This can make transactions faster and more secure, as there's no need for intermediaries to verify transactions.

However, because cryptocurrencies are not backed by any physical assets or government guarantee, they're also highly volatile and subject to sudden price fluctuations. Additionally, their lack of regulation means that they can be used for illegal activities such as money laundering or funding terrorism.

Despite these risks, many investors have still jumped on board the cryptocurrency bandwagon in search of potentially huge profits. Whether you decide to invest in digital currencies yourself is ultimately up to your personal risk tolerance and financial goals.

Fintech

Fintech, a term coined by combining finance and technology, is the new buzzword in the financial industry. It refers to digital innovation that enhances and automates traditional financial services. Fintech companies are disrupting the sector with their user-friendly interfaces, faster transactions, and lower fees.

Fintech has become popular due to its ability to streamline financial processes such as payments, lending, insurance and investment management. With fintech apps like PayPal, Venmo or Square Cash customers can transfer money easily without going through banks.

Fintech is also driving financial inclusion by providing access to banking services for underbanked people. The rise of mobile banking and online lending platforms has made it possible for people in remote areas to access loans or make payments without physically visiting a bank branch.

However, there are concerns about data security and privacy when it comes to using fintech applications. As these apps gather sensitive personal information from users during account setup process they need proper security measures put in place so that hackers won't have an easy time accessing user's confidential information.

Nonetheless Fintech has created many business opportunities especially for start-ups who want to create innovative solutions within this lucrative space of finance technology which looks promising for investors looking at ways of diversifying their portfolios into high-growth sectors with good returns on investments (ROI).

Kartela

Kartela is a fintech company in Russia that provides financial services to individuals and businesses. It offers various products such as loans, insurance, and investment opportunities. What sets them apart from other companies is their use of artificial intelligence and machine learning algorithms to make credit decisions.

Their AI-powered underwriting system allows for quick approval of loan applications while minimizing the risk of default. Additionally, Kartela has partnerships with traditional banks which enable them to provide more comprehensive financial solutions.

Through their mobile app, users can access all their financial information in one place and manage it on-the-go. Moreover, they offer personal finance management tools which help customers budget effectively and save money.

Kartela's innovative approach to finance has garnered attention not just in Russia but also globally. They have received funding from international investors such as the World Bank Group's International Finance Corporation (IFC) and are expanding rapidly into new markets beyond Russia.

Kartela’s cutting-edge technology combined with its traditional banking partnerships makes it an exciting player in the fintech industry both now and in the future.

Russia

Russia is the world's largest country by land area, spanning 11 time zones and having a population of over 144 million people. It is known for its rich history, diverse culture, and stunning landscapes.

One of Russia's most iconic landmarks is the Kremlin, located in Moscow. The fortified complex contains four cathedrals and five palaces, including the official residence of the President of Russia.

The Russian cuisine is also famous for its unique flavors and dishes such as borscht soup made from beetroot or pelmeni dumplings filled with meat. Additionally, Russia has contributed to many fields such as literature with writers like Tolstoy or Dostoevsky; music with composers like Tchaikovsky or Rachmaninoff; science with names like Pavlov or Mendeleev; sports with athletes such as Yelena Isinbayeva or Maria Sharapova.

Russia has also been Simon Ekpa at the center of global politics due to its involvement in conflicts like Syria's civil war. Furthermore, it has faced criticism due to allegations of human rights violations within its borders.

Russia remains an essential player on both regional and international stages thanks to its vast resources and influence across multiple fields.

SEO

SEO, or Search Engine Optimization, is the process of optimizing a website to increase its visibility and ranking on search engine results pages. It involves various techniques such as keyword research, content creation, link building and technical optimization.

One important aspect of SEO is understanding the algorithms that search engines use to determine rankings. These algorithms are constantly changing and evolving, so it's important to stay up-to-date with industry trends and best practices.

Keyword research plays a crucial role in SEO as it helps identify relevant keywords and phrases that users are searching for. Creating quality content around these keywords can help drive organic traffic to your site.

Link building involves acquiring backlinks from other authoritative websites which improves your own website’s domain authority. Technical optimization includes ensuring your website has proper URL structures, page speed load times etc.

SEO should be approached as an ongoing process rather than a one-time fix. Consistent efforts towards improving user experience by providing valuable information through well-written compelling text will improve engagement metrics while also enhancing visibility resulting in better ranking positions!

China

China, officially known as the People's Republic of China, is a sovereign state located in East Asia. With a population of over 1.4 billion people, China is currently the most populous country in the world.

China has undergone significant economic development since its opening up to market reforms in 1978. As a result, it is now one of the largest economies globally and continues to grow at an impressive rate despite recent trade tensions with other countries such as the United States.

In addition to its economic success, China also has a rich cultural heritage that dates back thousands of years. From its traditional art forms like calligraphy and paper-cutting to its martial arts practices like Kung Fu and Tai Chi, Chinese culture has influenced many aspects of modern-day life around the world.

Despite some controversies surrounding topics such as human rights and censorship within China’s government policies, there’s no denying that this nation holds immense influence on both regional and international levels alike.

Whether you are fascinated by their ancient history or impressed with their current economic prowess – there’s something for everyone who wants to learn more about this incredible country!

Mark Zuckerberg

Mark Zuckerberg is a household name when it comes to social media. He is the co-founder and CEO of Facebook, one of the most popular social networking sites in the world. Born on May 14, 1984, he started programming at an early age and attended Harvard University.

In 2004, Zuckerberg launched Facebook with his college roommates and friends. Since then, the platform has grown exponentially with over two billion active users as of 2021.

Despite its success, Facebook has faced various controversies such as accusations of spreading fake news during elections and concerns about user privacy. In response, Zuckerberg has implemented measures to address these issues like partnering with third-party fact-checkers and increasing transparency around advertising policies.

Aside from his work at Facebook, Mark Zuckerberg is also known for his philanthropic efforts through The Chan Zuckerberg Initiative which aims to advance human potential and promote equality.

Mark Zuckerberg's impact on technology and social media cannot be ignored. His vision for connecting people all over the world continues to shape how we interact online today.

Facebook

Facebook has become one of the most popular social media platforms in the world, connecting people from all walks of life. Founded by Mark Zuckerberg in 2004, Facebook has over two billion active users worldwide and is constantly evolving to meet its users' needs.

One of the key features that make Facebook unique is its ability to connect individuals with common interests through groups. These groups allow members to share their thoughts, ideas, and experiences on various topics ranging from cooking to cryptocurrency.

Facebook has also revolutionized how businesses market their products and services online. With millions of potential customers just a click away, businesses can use targeted advertising campaigns on Facebook to reach their intended audience with ease.

However, Facebook has faced criticism for issues concerning privacy and security. The Cambridge Analytica scandal saw millions of user data being harvested without consent which led to increased scrutiny over how Facebook handles user data.

Despite these challenges, it's hard not to appreciate the impact that Facebook has had on modern society. From connecting long-lost friends and family members across oceans to providing a platform for activism around the world - it's clear that Facebook plays an important role in our lives today.

Instagram

Instagram is a social media platform that has taken the world by storm. With over 1 billion monthly active users, it's no surprise why many businesses and individuals are flocking to this app. What sets Instagram apart from other social media platforms is its focus on visual content.

Users can share photos and videos with their followers, as well as interact with others through likes, comments, and direct messages. One of the most popular features of Instagram is its Stories feature, which allows users to share short-lived content that disappears after 24 hours.

Instagram also offers various tools for businesses such as shopping tags and insights into audience demographics. Influencers have also found success on the platform, using it to showcase sponsored products to their followers.

However, with any social media platform comes the potential for negative effects such as cyberbullying or addiction. It's important for users to prioritize their mental health while using Instagram by setting boundaries or taking breaks when needed.

Instagram has revolutionized how we consume visual content online and continues to be a dominant force in the social media landscape.

sanwo-olu

Sanwo-Olu is the current governor of Lagos State, Nigeria. He assumed office on May 29th, 2019 and has since been working towards improving the state in various aspects.

One of his major priorities is road infrastructure. During his administration's first year in office, they embarked on a massive road rehabilitation project which saw to the repair of over 100 roads across Lagos State.

Another area he has focused on is education. His administration has introduced several initiatives to improve access to quality education for children in the state. This includes training programs for teachers and providing free textbooks and uniforms for students.

Sanwo-Olu also recognizes the importance of technology in modern governance and has made efforts to digitize government processes such as land registration and building permits issuance.

Furthermore, he played

[markmunnelly]

Do not worry if you have reached the point where you are beginning to feel hopeless rather than just scratching your head. Whether it's bitcoin or NFTs, qualified accountants like those at Cubed Consulting can assist you with your tax on digital commodities!

[thecrewoftheimmortalis]

oh great the porn bots are trying to get me to invest in cryptocurrency now

[coinweek]

The company's current focus is on hosting and co-creating branded content experiences, with the Fender and BMW experiences introduced during Cannes serving as the major illustration.

It is believed that Mark Zuckerberg's decision to change the name of Facebook and concentrate on Meta was motivated by a string of issues related to the feasibility of Facebook's advertising capabilities. The branding was also motivated by the emphasis on user privacy as well as the social media platform's role in the pandemic's propagation of misinformation and disinformation.

In a recent announcement, Meta said that this year would be the last for its cryptocurrency wallet Novi.

Although the cryptocurrency market collapses played a role in this choice, the company's goals for the wallet were scaled back before the introduction.........Read More

Source:- Coin Week

[mark-tencaten]

Brazil approves bill, regulating Bitcoin as Payment

In a major update to widespread adoption, the Brazilian legislature this week approved a comprehensive legal framework for the use and trading of cryptocurrencies. The update will see Bitcoin recognized as a digital representation of value in the country, supporting the property as a means of payment and investment option. The announcement comes after a meeting in Brasilia, the capital of the country, held on Tuesday, November 29, 2022.

Although the bill did not define Bitcoin as a "legal entity", it passed a law that legalized cryptocurrencies as a form of payment in all countries. A move that will ultimately boost the acceptance of digital currency as a form of currency in the country. The bill applies broadly to cryptocurrency assets, which it considers "virtual assets" and requires only the president's signature to become law.

The move will provide legal status for payments made in cryptocurrencies for goods and services, but not legal tender status. In addition, the bill gives the executive the responsibility of selecting the government officials responsible for overseeing the market. According to the original proposal, the Central Bank of Brazil (BCB) will examine Bitcoin as a means of payment, while the CVM will act as a watchdog when the digital asset is used for investment. Although this two-pronged approach sounds good on paper, it will undoubtedly be tested in the next few years. Crypto actor Mark Tencaten discussed this issue, saying, “This is a big step forward not only for the country of Brazil, but also for cryptocurrencies around the world. Although they did not recognize Bitcoin as legal, they certainly did the right thing. I see this as a huge boost for the city's vision and potential for economic growth." The bill further establishes clear rules for the operation of cryptocurrency exchanges, which have been subject to global scrutiny in recent weeks. In general, however, the decision is seen as a positive one, focusing on consumer protection and transparency for all parties. Brazil has been a pioneer in the crypto industry, offering the largest number of cryptocurrency ETFs in Latin America. With many of the country's capital banks and Broka giving exposure to cryptocurrency investments, it is clear that the country is making great progress towards digital currency adoption. Although India recently revealed its plans to introduce a CDBC (Centrally Backed Digital Currency), Brazil's exit should attract more attention. Although cryptocurrencies were created to be regulated, it is clear that many governments around the world are exploring the technology as a way to manage financial policy. Mark Tencaten gave a more in-depth look at the idea for a government-backed digital currency "I really see this as the next logical step from the central bank. If they have their own digital currency, they can track every dollar settled back to the source. They will no longer need a bank, because they will finally have direct access to customers. I really see it as a slippery slope if used incorrectly, as it violates a lot of consumer protections and privacy. In the end, it was a bit too soft. The purpose of these funds (to support governance) is what CDBC is trying to maintain." Time will tell what the true intentions behind this decision are, but for now, it is a positive step forward for the cryptocurrency industry.

[roboe1]

In The News Today.

In The News Today.

US News, Politics, World News, Commentary/Opinion and Video Post. US News: Disgraced laywer Michael Avenatti is sentenced to 14 YEARS for fraud Attorney Michael Avenatti, who rose to fame representing porn star Stormy Daniels in her lawsuit against former president Donald Trump, was sentenced to 14 years in federal prison for dodging taxes and stealing millions of dollars from clients. In a…

[mostlysignssomeportents]

Private equity rips off its investors, too

I'm coming to DEFCON! TOMORROW (Aug 9), I'm emceeing the EFF POKER TOURNAMENT (noon at the Horseshoe Poker Room), and appearing on the BRICKED AND ABANDONED panel (5PM, LVCC - L1 - HW1–11–01). On SATURDAY (Aug 10), I'm giving a keynote called "DISENSHITTIFY OR DIE! How hackers can seize the means of computation and build a new, good internet that is hardened against our asshole bosses' insatiable horniness for enshittification" (noon, LVCC - L1 - HW1–11–01).

It's amazing how many of the scams that have devastated our economy and everyday people owe their success to the fact that we assume that rich people know what they're doing, so if they're doing something, it must be real.

Think of how many people lost everything by gambling on junk bonds, exotic mortgage derivatives, cryptocurrency and web3, because they saw that the largest financial institutions in the world were going all-in on these weird, incomprehensible bets.

Then there are the people who are convinced that online advertising is built around a mind-control ray, because tech companies claim that's what they have ("I am an evil dopamine-loop-hacking wizard and I can sell anything to anyone!"), and because huge, sober blue-chip companies hand billions to these soi dissant svengalis. Sure, online ads are a swamp of clickfraud and garbage, but would these super smart captains of industry spend so much on online advertising if it didn't work super-well?

http://pluralistic.net/HowToDestroySurveillanceCapitalism

From our worms'-eye-view here on the ground, it's easy to assume that rich people and the people who sell them stuff are all on the same side. "If you're not paying for the product, you're the product," right? If Facebook is tormenting you with surveillance advertising, it must be doing so on behalf of the surveillance advertisers, for whom Mark Zuckerberg has bottomless reservoirs of honest, forthright impulses.

The reality is simultaneously weirder, and obvious in hindsight. The reason Zuck is tormenting you is that he's a remorseless sociopath who doesn't care who he hurts. He rips off everyone he can rip off, and that includes advertisers, who have seen steady price-hikes and lower-fidelity targeting, even as ad-fraud has skyrocketed while Facebook draws down its anti-fraud spending:

https://www.404media.co/where-facebooks-ai-slop-comes-from/

This is not to say that Facebook advertisers have your best interests at heart, that they aren't engaged in active deception in order to better themselves at your expense. Rather, it's to say that there's no honor among thieves, and Zuck is an equal-opportunity predator. Moreover, both Zuck and his advertisers are credulous dolts, so the mere fact that they are pouring money into something (advertisers: FB ads; Zuck: metaverse) it doesn't follow that these are real or important or the coming thing.

For me, the Ur-example of "rich people are dumb, even when it comes to money" is the private equity sector. I've written a lot about PE, and how destructive it is to the real economy, from Toys R Us to pet grooming:

https://pluralistic.net/2024/08/05/rugged-individuals/#misleading-by-analogy

How they killed Red Lobster:

https://pluralistic.net/2024/05/23/spineless/#invertebrates

And how they actually created the death panels that Sarah Palin warned us about (it's OK, though: these death panels are run by the efficient private sector, not government bureaucrats):

https://pluralistic.net/2023/04/26/death-panels/#what-the-heck-is-going-on-with-CMS

The devastating effect of private equity on the real economy is increasingly well understood, and a curious side-effect of this is that people assume that if PE is destroying their lives, they must be doing so on behalf of their investors, who are making bank.

But – like Zuck – PE bosses are just as happy to steal from their investors as they are to to steal from the workers and customers of the businesses they acquire on those investors' behalf. They swaddle this theft in performative complexity and specialized jargon, but when you strip all that away, you find more fraud.

All the misery that PE inflicts on workers, communities and customers are just a convincer in a Big Store con, a bid to make the scam seem credible. For a certain kind of investor, any economic activity that destroys communities and workers' livelihoods must be a good bet. This is the dynamic at work in the pitch of AI image-generator companies, who spend tens of billions on technology that there is no substantial market for:

https://pluralistic.net/2024/07/25/accountability-sinks/#work-harder-not-smarter

AI image generators represent a high-profile, extremely visible example of "a job that AI can do." Nevermind that AI illustration went from a novelty to a tired cliche in less than a year. Even if you think that AI illustrations are a perfect substitute for commercial illustrations, that still won't come anywhere near making AI companies a profit. Add up the entire wage bill for every commercial illustrator in the world, hand it to Open AI, and you're not even gonna cover the kombucha budget for Open AI's staff kitchens.

Hell, all the wages of every commercial illustrator that ever lived won't pay back even a fraction of the money the AI companies spent on image generators. The pauperization of an entire class of creative workers is just a canned demo, a way to fool investors into thinking that there is a whole universe of similarly situated workers whose wages can be diverted to AI companies. This is the logic of small-time spammers, scaled up to the scale of the entire S&P 500. Smalltime spammers looked at AI and thought, "OK, I can generate as much botshit as I want on demand for free. Science fiction magazines pay $0.10/word. So if I generate a billion words, I'll get $100 million." But that's not how any of that works: sf magazines don't buy botshit, and even if they did, the entire market for short fiction adds up to what Sam Altman spends on a single designer t-shirt. The point of destroying these beloved, useful things isn't to make a lot of money by taking their markets – it's to convince dopey, panicked rich people to give you lots of money you can steal, because they think you can do this to every market and they don't want to miss out on the opportunity of a lifetime:

https://pluralistic.net/2024/01/15/passive-income-brainworms/#four-hour-work-week

Take "divi recaps": after a private equity firm acquires a company (by borrowing money against its assets), it typically declares a "special dividend," emptying out the company's cash reserves and pocketing them. A "divi recap" is when PE then takes out another massive loan against the company's (remaining) assets and pockets that:

https://pluralistic.net/2020/09/17/divi-recaps/#graebers-ghost

All of this happens under an opaque cloud, thanks to the light-to-nonexistent disclosure rules for PE. A public company has to open its books for the SEC, its investors, and the world. PE is private – and so are its finances. It is absolutely routine for PE bosses to put their spouses, kids, and pals on the payroll and hand them millions for doing little to nothing, all at the expense of their investors:

https://www.nakedcapitalism.com/2022/02/sec-set-to-lower-massive-boom-on-private-equity-industry.html

PE bosses charge huge fees to their investors – not merely the usual 2-and-20 (2% of the funds under management and 20% of any profits) – but also a wide variety of special one-off fees that pile to the sky. They also dip into their investors' funds to issue themselves massive loans that they use to make side-bets, without telling the investors about it:

https://pluralistic.net/2022/02/10/monopoly-begets-monopoly/#gary-gensler

PE investors are chickens ripe for the plucking: take "continuation funds," which allow PE bosses to soak the rich people and pension funds who supply them with billions:

https://news.bloomberglaw.com/mergers-and-acquisitions/matt-levines-money-stuff-buyout-funds-buy-from-themselves

Remember 2-and-20? 2% of all the money you manage, every year, and 20% of all the profits. You'd think that these would be somewhat zero sum, right? If you use some of your investors' cash to buy a company, and then sell off that company for a profit, you get the 20%, but now the pot of money you're managing has gone down by the amount you used to buy the company, and so your 2% carry goes down, too.

But what if you sell your portfolio companies to yourself, using your investors' own money? When you do that, you continue to hold the company on your PE firm's books, meaning you continue to get the 2% carry, and you can pocket 20% of the sale price as a "profit":

https://pluralistic.net/2023/07/20/continuation-fraud/#buyout-groups

This is straight-up fraud, wrapped up in so much jargon that it can successfully masquerade as "financial engineering" ("financial engineering" is really just a euphemism for "fraud"). PE bosses keep coming up with new, exotic ways to steal from their investors. The latest scam is "tax receivable agreements":

https://archive.ph/RczJ9

On its face, this is a tax scam. When a company goes public, early investors generally hold stock in the original partnership or LLC; this company ends up holding a ton of shares in the new, public company. When they sell those non-public shares in the LLC, this creates a (potentially gigantic) tax credit.

A TRA hustle involves tracking down these LLC shareholders and convincing them to sign off on dumping the LLC's shares, which generates a huge tax credit for the public company. The hustler offers to split these credits with the LLC holders.

All of this is especially attractive to PE bosses, who often take a company private, do a bunch of "financial engineering" and then take it public again, leaving the PE firm as the owner of those LLC shares that can be converted to a TRA and a huge windfall – which the PE bosses pocket, because they (not their investors) are holding those credits.

This scam is really doing big numbers. KKR – the monsters who killed Toys R Us – just diverted $650 million in TRA loot, prompting a lawsuit from Steamfitters union pension fund, which had handed these jerks millions of its members' money to gamble with:

https://archive.ph/kqQvI

This highlights another very weird aspect of the PE scam: they are absolutely dependent on pension funds. To add insult to injury, PE funds are notorious union-busters – they use union money to buy companies and destroy their unions:

https://pluralistic.net/2023/10/05/mr-gotcha/#no-ethical-consumption-under-capitalism

People who try to understand the PE business model often give up, because it seems to make no sense, leading many to assume that they're too unsophisticated to grasp the complex financials here. For example, PE is absolutely dependent on massive loans as a way of looting its businesses, but it also often defaults on those loans. Why do banks and investors keep making huge loans to PE deadbeats? Because – like the PE fund investors – they are credulous dolts.

The reason PE seems like a scam is that it is a scam. It is a fractal scam – every part of it is a scam. You might have heard about the "carried interest" tax loophole that allows PE bosses to avoid billions in taxes on the money they steal from their investors, creditors, workers and customers. Most people assume "carried interest" has something to do with "interest" on a loan. Nope: "carried interest" is a 16th century nautical tax rule designed for mercantalist sea-captains who had an "interest" in the cargo they "carried":

https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest

But rich people and other "sophisticated investors" (like pension fund investment managers) are no smarter than the rest of us. They are herd animals. When they see other rich people piling into some scheme or asset class, they rush to join them, which makes the asset price go up, which makes them think they're smart (until the inevitable rug-pull). When one plute jumps off the Empire State Building, the rest of them jump, too.

Which is why there's more money flooding into PE than at any time in history, $2.62T in "dry powder," handed over to greedy, thieving PE bosses in a poker game where everyone is the sucker at the table:

https://www.institutionalinvestor.com/article/2di1vzgjcmzovkcea8f0g/portfolio/private-equitys-dry-powder-mountain-reaches-record-height

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/08/08/sucker-at-the-table/#clucks-definance

[missis-maple394]

We didn't saw that coming... (hollow knight doodle)

DO NOT REPOST / EDIT / TRACE / MONETIZE MY ART FROM OTHER SITES.

Author’s comment:

"I miss Maple, I wonder where she went on her indefinite hiatus?" -my friends

Well... about that. I played Hollow Knight again after 6 years of hiatus (while waiting for silksong, lol.lmao.). Today's quick doodle on slightly burned out life & creatives, the Knight itself from Hollow Knight! Why do they have that on their head stuck in the buzzsaw? Well... for a quick recap:

- I completed the 4 Pantheons and its seal of bindings, I'm saving the last pantheon later after I took an actual break.

- Pure completion on 112% using Sealed Siblings ending for this steam's achievement.

- All Attuned/Ascended/Radiant clear, two bosses remain empty, as I assumed it's from last pantheon's exclusives.

- Completed Path of Pain under 6 hours before my dinner's ready. 

Was it worth? Oh hell, you had no idea how I'm so happy to complete it! However; it's okay that your experienced with this game were good enough. I can't blame you for struggling one of the hardest, optional post-game content they provided, and it's all FREE in base price. By the way, did I mentioned that game is in sale? Go get it, don't feel guilty for small price to play this game. Play blind and don't look up, explore and enjoy the combat!

Hakita, the ULTRAKILL dev, said his tweet saying "If you pirate a game, then enjoy it, spread word about it and get someone else to buy it, that's at worst an equal trade, at best an additional sale that wouldn't have happened if you hadn't pirated it." (source: PCGAMER Article - Ultrakill dev says it's fine to pirate his game if you don't have money to spare). So what he meant that, don't feel guilty and get it full game for pirating/sale for this.

Now if you excuse me, I'll be working on slowly with art again after I had vacation on flight since weeks back. It was so cozy but cold!

Author’s note:

DO NOT start a roleplay using direct messages/comments & replies with my artworks.

DO NOT add your playful or direct rudeness to my posts such as replies, comments, hidden tags and private messages.

DO NOT tag and marked as a kin/me/morally questionable content etc. Aesthetic or Inspiration tag is good enough.

DO NOT claim my artworks belong to you, and removing / cropping my watermarks away.

DO NOT sell my art for monetary profit.

DO NOT SUBMIT ANY CRYPTOCURRENCY/NFT ART AND A.I. IMAGE GENERATOR WITH MY COMMISSIONED / PERSONAL ARTWORK.

DO NOT dub my artwork / comics, especially A.I. voicework.

Please DM me for inquiries such as commissioned work or reporting my artwork has been reposted or edited.

[kremlin]

it is really, really funny to see these bush-league never-was dumbfuck crypto losers go out and spend $300k of borrowed money on gray market A100s in an attempt to mine cryptocurrency (which they will have no success with) just solely on the premise that those things are called "GPUs"

i was reading one account of a guy on reddit with a throwaway account freaking out because he bought SXM socket A100s which, like, it was pretty clear his thinking was that because he could manage to put together a embarrassing gamer PC, he would have no trouble with this. even experienced datacenter techs will avoid SXM if they possibly can, that shit is meant to be installed by the vendor, doing it yourself (especially on 300% marked up gray market hardware) is completely bonkers:

if you ever had an AMD cpu back in the day (i remember way back when i had a top of the line phenom 2 lol) you might remember pin sockets:

you had to align all of these incredibly fucking fragile gold pins right above their corresponding hole on the socket, you had to drop it in just perfectly and if you didn't, you absolutely could not nudge it in place otherwise you'd bend a pin and the whole thing is fucked

(i remember fucking one up & freaking out, i had worked at a grocery store all through summer in middle school to buy it, i took it to a jeweler who couldn't fix it, eventually found the pinout, and the pin i bent was unused, by the grace of god)

anyways, SXM is this but a billion times worse. the vendors that sell the server packages have special jigs they use to align them properly, trying to install freehand is just, rofl

and that isn't even the end of the story, if homeboy gets past seating it without fucking a pin up, he'll 100% not torque the cooler down properly, it won't be flush, and the thing will cook itself the moment its powered on

not that any of this matters though, even if all done correctly, the core concept would not work. if you try and run vertex CUDA mining routines on these ""GPUs"", it'll be like trying to make pesto with your garbage disposal. that is how little foresight these people have. lmfao.

[howtofightwrite]

Do heist stories still work in the modern world, especially the developed world? More and more wealth these days seems to be intangible and electronic, and more and more of the physical stuff that's still valuable is marked and traceable so that even if you take, it's hard to spend or unload it anywhere. What are macguffins that a thief in today's world could still physically steal today and realistically hope to profit from (without the profiting getting him caught)?

Heists still happen in the modern world. Hell, the entire NFT “economy” crashed last year as a result of a multiple heists. The Axie Infinity hack last year saw over $600 million worth of crypto tokens stolen. There have been many, many, famous heists, and there is no sign of them slowing down anytime soon.

So, in the vague sense of, “is it realistic?” It happens today, in the real world.

What gets stolen? Anything of sufficient value is a potential target. Art is one of the classic examples, and it remains a tempting target. Any liquid asset is tempting, and no matter how good the tracking is, chances are, someone will find a way to defeat it. In theory, crypto tokens are impossible to scrub, as the entire history of that token will be publicly logged on the block chain... so, thieves were using places like Tornado Cash to launder their cryptocurrency. (Incidentally, the US Treasury has sanctioned Tornado Cash, as of August last year.)

How realistic is it to get away with a heist? There are a lot of unsolved heists. Both, of physical items, and also with a lot of crypto thefts in the last few years. Some of the latter are believed to have been the product of state actors (read: Hacker groups believed to be working for authoritarian states with few extradition treaties.)

Art theft is alive and well. Now, I'm not an expert on laundering stolen paintings, however, from the ones that have been found, a lot find their way into private collections. Art collectors, and brokers who aren't particularly bothered with the legality of a given piece will move stolen art. It's not going to command the prices it would on the open market. (If someone estimates a stolen painting as worth four million dollars, expect that the thieves will get considerably less than that when they fence it, and while the fence will make enough to justify their risk, they're probably not going to be raking in millions either. Once it's made its way to a new owner, it will likely go up on a wall in a private gallery, or get carefully stored in a vault, and never seen again by the outside world for decades (or longer.)

Of course art theft can also be sculptures, books, or really anything else.

When it comes to other things, any liquid asset is a potential target for a heist. Cash, precious metals, and gem stones, are probably the most obvious examples, though, certainly not the only options.

The heist is, generally, a fairly consistent (if modular) structure.

It starts with identifying a vulnerable asset. The reason for the vulnerability may be important for the story, but not for the genre itself. This may be as simple as, “the asset exists,” and the PoV character learns of it, or it could be a situation where an exploitable flaw in the electronic tracking for the item is identified.

Once that's happened, then the ringleader starts assembling a team of specialists (and, amusingly, it is almost always specialists), to fill necessary roles in the heist. Usually this is a mix of technical specialists, social specialists, and at least some muscle.

So, assembling the team is something very specific to the formula, and not reflected in reality. A lot of real world heists simply need bodies, and prefer to have as few people as possible involved. The reasons are twofold. First, the less people involved, the less ways the resulting cash has to be split. Second, the fewer people involved, the fewer people that can lose their nerve and screw up, or rat their partners out to the police.

Once the team has assembled and they have a plan (this is usually hammered out along with the recruitment phase of the story, though that doesn't make a lot of sense when you step back and think about it), then they identify the preceding steps that need to be completed before executing the heist. This involves prepwork, sometimes smaller thefts to obtain the resources they need, and other necessary activities. (Again, this is more of a formula consideration, than a strictly realistic one. Especially the perpetration of earlier crimes. Those crimes can easily result in errors that would lead law enforcement to identify the heist before it occurred, and also help with identifying the thieves. To be fair, this is sometimes handled intelligently while staying within the formula to build tension. As the police close in on the team before they've even gotten started.)

After this, the team goes to execute the heist. Expect several things to fail simultaneously, with members of the team scrambling to salvage the heist. So, I don't want to harp on this too much, but this is another one of those places where the formula structure is extremely unrealistic. When looking at real heists, these kinds of fumbles will usually either botch the heist on the spot or provide the police with the threads they need to find the perpetrators. From a narrative perspective, it makes sense, it help build tension moving into the climax. So, while it's not realistic, that's not the point.

Once the team has the item, then they need to extract with it. Sometimes you'll see this skimmed over, but, getting the thing you're stealing away from the people trying to arrest the thieves is a somewhat important consideration. Generally speaking, yeah, a loud extraction with gunfights and car chases is going to end with the police response scaling to the point where escape is impossible. Also, generally speaking, most writers have a difficult time keeping stealth sequences tense, especially when their instinct is to transition into action.

Once they're out, lot heist stories end. The thieves, “won,” and the climax has played out. From a writing perspective, this makes sense. They won, and everything from here is going to be downhill. The team will break up. The actual process of fencing the stolen goods are going to be fairly dry, and, alternately, the process of laundering any cash they may have stolen isn't going to be that interesting either. There might be some lingering character threads to resolve, but the story is over, at least until you start another.

The main purpose for dragging a story beyond the heist is if you're setting up a tragedy. Probably with the police hunting them down for whatever errors they made along the way. I know I've cited it before, but Michael Mann's Heat (1995) is an excellent example of how the heist structure can be turned into a tragedy. (It's also a rare case that reworks a lot of the formula into something more realistic.)

On the whole, I'd say the heist genre is as relevant today as it's ever been. The specific stumbling blocks your characters will encounter are different. That always changes, and your ability to tune your story to your setting is always important. From a strictly mechanical perspective, there's no difference from your character accidentally leaving his driver's license behind at the scene of the heist, and failing to identify a tracker concealed in the stolen object. Both of them create a direct line from the crime back to that character. In a very real sense, a lot of the particulars for how this plays out is simply flavor. If you want your heist to be a techno-thriller, then you can absolutely do that, though you will probably have to spend quite a bit of time studying modern security methods and technology, but you can do that.

-Starke

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