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Comment Re:Millionaires are leaving the UK in droves (Score 1) 76

You don't think policies like VAT on private school fees and pushing up business taxes instead of personal ones play well with the typical Labour voter?

They're cratering in the polls anyway for a host of other reasons, and I suspect Starmer is already toast anyway for a host of other reasons (though it's significantly harder in practice for Labour to replace a leader they're not happy with than it is for the Tories), but I don't think it's unreasonable to suggest that some of these policies are being chosen because of their political alignment.

Comment Re:Millionaires are leaving the UK in droves (Score 0) 76

They appear to be playing heavily on the politics of envy. Look at some of their education policies, for example, or the way they treat small businesses and the people who run them. They don't seem to want to pull up the less fortunate if they can be busy pulling down the more fortunate. It's not a good look if you actually want a successful economy, but it plays well to their base.

I agree with you that they seem to be all over the place in policy generally, and after trying to give them a fair chance in the early months, I now have a fairly low opinion of them (with the odd exception in Cabinet who does actually appear to be at least recognising the real problems and trying to do something about them, which I can respect even while thinking little of their party politicians and government as a whole).

You're right about the investment culture as well, but presumably if we're talking about entrepreneurs who have already been successful and are looking to move elsewhere, that's of limited relevance unless they're planning to start at least one more business after they arrive, so in this particular debate, I doubt that is such a major issue.

Comment Re:Millionaires are leaving the UK in droves (Score 1) 76

While we're hardly Russia, our democratic and stabilisation credentials are looking more shaky than ever as well. Our electoral system produces results very far from proportional. One of our two traditional main political parties is now essentially irrelevant. The other, which currently holds power, is breaking all the wrong records and is widely expected to suffer severe losses at the next election already, barely a year into their term. Waiting in the wings (and currently leading by a very wide margin in the polls) is the nascent far right populist party that has become the default protest vote. It looks scarily like that party might actually be pulling so far ahead (whether thanks to their own merits or, like the present incumbents before the last election, because the government of the day is so unpopular) that even with the usual reversion towards traditional voting patterns when a real election happens, they might still win. And the prospects of what happens next in that timeline are truly terrifying, particularly for anyone who isn't a white British citizen from birth.

Comment Re:Millionaires are leaving the UK in droves (Score -1, Troll) 76

As a Brit, I was surprised to see the UK as a destination of choice.

The current Labour government here often seems to be criticised for being ideological and not pragmatic. In particular, they seem to prefer policies that tax "the rich" and businesses in one way or another, yet not large, relatively wealthy groups like pensioners or the homeowners who have lucked out and now live in a million-plus property that most younger people will never be able to afford.

There's also quite a lot of red tape for businesses here, maybe not compared to some of our neighbours in Europe, but certainly compared to places like the US and probably parts of Asia too.

Obviously some of this is politics and maybe the policies are not so surprising coming from a party that in theory represents the working class. However, it is surprising that entrepreneurs would be attracted to a culture like this at a time when we expect to have this government for another four years still.

Comment Re:Enlighten me (Score -1) 9

I own, but do not operate, a few IT companies that manage corporations in the $600MM-$1B receivables range.

Based on our own help desk ticket software, our clients have opened 40% fewer tickets since ChatGPT was rolled out to every desk and phone. 40%. I expect another 40% drop (total 80%) by next year as end users just manage things themselves.

I won't downsize as the tickets aren't really generating revenue as much as headaches. One of my engineers had a broken PDF file that took her 6 hours to fix, and the end user spent 6 days trying to fix it themselves with Ai.

But -- the basic stuff? Reboot your computer stuff? Email rejected because you mistyped a domain name stuff?

You don't need a human, and we would probably have outsource that stuff to India anyway next year if not for ChatGPT etc.

Comment Have to ask for more to not store anything now (Score 1) 48

As an app developer who has not looked into this beyond this article summary and who prefers to collect as little data as possible, it seems like if Apple doesn't end up providing an explicit option to opt out of serving customers in states where they are going to require you to store data on customers, ironically now I could do that myself manually, but in doing so I would have to ask the user's permission to let the app see their location (or try to infer it from their IP if that were good enough for Apple) just to prove they were in a place OTHER than one of these states with the insane laws before allowing them to use the app, and then I could throw away their location and not have to store anything (and if possible, just not let people from those storage-required states use it at all.)

To the user this would look more potentially invasive, as I'd have to ask for location permission at least once for everyone even in states without the stupid laws, which is both sad and funny.

Comment Re:Just demonstrates that valuations are nonsense (Score 2) 49

It's like there are at least two layers of funny money accounting going on here.

First, you have the strange way that people equate market cap with value. There's no guarantee that holding shares with a current market value of $X will eventually return $X or more in dividend payments plus maybe some eventual disposal of assets, and these are usually the only tangible values involved. A market cap based on ludicrously high P/E ratio will be high, but trading those shares is like trading Bitcoin: it starts to look more like a Ponzi scheme than a genuine value-based investment.

Second, even the market cap is mostly theoretical here, because any shares held can't be freely traded on an open market. The asset is almost completely illiquid other than occasional anomalies like the secondary sale we're talking about. The first IPO of an AI unicorn could be the pin that bursts the bubble.

It's the difference between being one of the AI unicorns that doesn't actually make any real profit yet and is largely funded based on hype and hope, and being a supplier like Nvidia that is actually being paid real money (funded by all the AI investment) and has a P/E ratio that is high but not off-the-charts stupid.

Comment Re:Deserve what you get (Score 1) 261

I can see why consumers might generally prefer an all-in-one solution *IF* it won't be enshitified. Alas, since it WILL be, I prefer a device that can't phone home at all in order to make enshittification impossible. It's unfortunate that the otherwise cleaner solution is screwed up by bad manufacturers.

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