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Comment Re: AI = absolute worst idea for investing (Score 1) 11

First, Grammar errors are debatable. They refer to an outdated vision of what language is. Grammar is a convention that changes over time. They were originally intended to be clear, easily understood, global communication. AI does not make zero syntax errors, it slavishly follows the rules as established 20 years ago, making no innovation.

In other words it regurgitates training data, just a specific form of training data. If you train it on UK English, then it will routinely 'misspell':

annex, check, idyl, etc.

Then ask yourself why is it "OK" for it to use "London" spelling, but not "Alabama" spelling when both differ from standard American English?

And yes, spelling rules are determined by the average of all, so it is a similar effect of averaging all singers.

Comment AI = absolute worst idea for investing (Score 2) 11

Investing in the stock market consists of doing at least one of three things:

1) Attempting to predict the future better than other people. Good luck with that.

2) Managing your risk, so that you take investments that have slightly less risk than the likely return, as compared to other investments. Not that hard to do, but profits are small. Talking 2% better than the market.

3) Figuring out when people are making bad decisions and doing the opposite. I.E. Outsmart the mob.

#1 AI is trained to predict the future - but it does so by doing EXACTLY the same thing as the data it was trained on. It cannot predict better than the general human mob does.

#2 is relatively easy to do, you do not need an AI to do it. Lots of great measures of risk, any trained competent financial consultant can do this.

#3 requires an actual understanding of mob psychology, which AI does not have. It makes predictions based on mob psychology, it does not actually understand it.

Comment Translation: (Score 1) 83

Airline travel prices are too high, reducing demand for air travel.

But they can sell these overpriced travel for 'miles' at a profit, to banks, who give them away to people to encourage them to get and use over priced credit cards.

Basic credit card operations:

1) Credit card demand 2% reduced prices to join their network.
2) The credit card company keeps 1% and gives the other to the banks that issue the cards.
3) The banks either give away that 1% to their customers or keep it and make money off of it, instead offering other things worth less than the 1%.

I have never seen a credit card better than 1% cash back every month, no yearly fee.

Comment Customers vs Owners (Score 1, Interesting) 67

The customers hate the idea of more AI. We know it is an inferior product.

The stockmarket loves the idea of firing employees and replacing them with AI, we know it saves money.

The question is not what the stock does in a few weeks. Instead it is do they lose customers over the next couple of months/years. If that happens it won't matter how much money they saved.

Comment Already legal (Score 2) 146

Any IRA could invest in ETFs that were 100% Crypto investments.

Trump continues to rack up 'wins' by doing things the Democrats already did, doing things he legally cannot do, and doing things that mean absolutely nothing.

Note, this order will probably encourage the Fed and the SEC to look into slightly more direct holdings of crypto, but functionally there is no difference.

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