I'm no fan of crypto or Binance, but there is zero evidence that they are "in on it." That is pure speculation on your part.

It's true that bank security systems are much more robust and mature. However, major electronic bank heists do happen, even in the US.
https://www.cbsnews.com/news/c...
https://www.kaspersky.com/abou...
https://en.wikipedia.org/wiki/...

This is the way it is with all security. It's always a tradeoff between keeping unauthorized people out, and allowing authorized people in.

Your house has a key to the front door, but it's relatively trivial for a robber to kick the door in. So do you replace your front door with a heavy bank vault, with multiple locking mechanisms? You won't do this, because then *you* would have a hard time getting in and out. Instead, you make friends with your neighbors so you can look out for each other, you get insurance, and you invite the police to patrol your neighborhood.

Speaking of bank vaults, most safe deposit boxes are inside a vault. But during the day, people need to be able to access their box. As a result, many banks leave the vault door open during the day, closing it only at night. Or at the very least, they have to open it whenever somebody wants to access their box. This creates a security vulnerability that can be, and has been, exploited.

Crypto is no different. There is a balance between security and access. This always leaves vulnerabilities that cannot be "fixed."

Banks solve this by buying insurance, both government-based and private. Binance did this too, but it seems they didn't buy enough. Now, they'll have to buy more, and their premiums are going to go up considerably, making it more expensive for them to continue operating.

It will be interesting to see how long it takes for the next heist. You can be sure another one is coming.

As with everything, the value of cryptocurrency is determined by the balance of supply and demand. If a major heist causes some people to be reluctant to invest in crypto, the demand side of the equation goes down, bringing the price down.

This was not equivalent to a bank heist. This was more like robbers getting away with stealing the entire contents of the vaults at Ft. Knox. Such a major heist would indeed shake people's confidence in the dollar, and would cause it to be devauled.

Some of them are pretty clever.

This isn't the first time. In October 2022, hackers got away with a mere $500 million. This time, $6 billion. The hackers are getting better at this.

If you've got your money tied up in crypto, this is a good time to get out.

Doh!

Slow news day indeed.

People were more casual about it. It was far more important to be cool than to own things -at least in the online world.

You could use something someone else created -especially if you improved on it. Collections of things other people made were cool, in general. Just don't try to say it was your original creation or your idea first.

Don't be a dick. Reputation mattered, and communities were surprisingly small.

If the air space around these plants is restricted, then it should be defended. Shoot the things down, or triangulate the control signals and arrest the operators.

If it is not, then there is no story here.

If someone has to give you a right, it is not a right. It is an entitlement.

Governments may respect rights or they may violate rights, but rights are inherent to you.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

Because AI. Gotta jump on the bandwagon and get that stock boost.

Show everyone that you are a hip and modern company embracing the latest trend, or your company risks being labeled as old fashioned and obsolete.

The first paragraph of the summary immediately made my eyes glaze over. It reads exactly like a YouTube influencer's rant.

Wait, companies don't like employees who don't show up on time? The nerve, expecting people to work as agreed!

And even if the plight of GenZ is so bad, what does that have to do with wanting to use AI to rewrite legacy code?

When a company pivots in such a dramatic way, they are essentially saying to everyone, "We no longer believe in our mission. We're desperately looking for something, anything, to keep from getting in line at the unemployment agency."

The natural progression of the AI bubble will result in a fate worse than death for these CEOs: they will be sidelined when their decisions to turn their companies into AI companies, end in financial disaster.

I'm not saying AI as a technology will fail. I'm saying that there's going to be a financial bloodbath because too many companies piled on all at once, far outstripping any semblance of realistic ambition. When a shoe company thinks it can pivot to become an AI company, we have truly jumped the shark.

For a company to remain successful, above all, they have to understand who they are. A shoe company, a jet company, whatever. These might not be as alluringly profitable as an "AI company" but by forgetting who they are, they become just another AI groupie.

I know right! Apple is so misunderstood and mistreated by its critics. They just can't win.