Forgot your password?
typodupeerror
Businesses

SEC Calls For Review of Facebook IPO 267

Posted by Soulskill
from the somebody's-in-trouble dept.
beaverdownunder writes "After losing another 8.9% of its IPO value in its third day of trading, SEC Chairman Mary Schapiro has called for a review of the circumstances surrounding Facebook's IPO on the NASDAQ late last week. Unable to sell Facebook short, investors have instead taken to short-selling funds that owned pre-IPO shares as revelations come out that the underwriters involved revised their Facebook profit forecasts downward in the days before the offering without similarly revising the opening share price. Meanwhile, Thomson Reuters Starmine has come out with a post-party Facebook estimate of a meager 10.8 per cent annual growth rate, valuing the stock at a paltry $US9.59 a share, a 72 per cent discount on its IPO price, signaling that the battered stock may not have found the bottom yet."
Robotics

When Will AI Surpass Human Intelligence? 979

Posted by samzenpus
from the I'm-afraid-I'm-smarter-than-you-dave dept.
destinyland writes "21 AI experts have predicted the date for four artificial intelligence milestones. Seven predict AIs will achieve Nobel prize-winning performance within 20 years, while five predict that will be accompanied by superhuman intelligence. (The other milestones are passing a 3rd grade-level test, and passing a Turing test.) One also predicted that in 30 years, 'virtually all the intellectual work that is done by trained human beings ... can be done by computers for pennies an hour,' adding that AI 'is likely to eliminate almost all of today's decently paying jobs.' The experts also estimated the probability that an AI passing a Turing test would result in an outcome that's bad for humanity ... and four estimated that probability was greater than 60% — regardless of whether the developer was private, military, or even open source."

Wherever you go...There you are. - Buckaroo Banzai

Working...