Whitney Tilson’s email to investors discussing bitcoin to bucks: crypto admirers borrow to buy homes, cars – and added crypto; how TikTok serves up sex and biologic videos to minors; extenuative par.
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Q2 2021 barrier armamentarium letters, conferences and more
1) This affectionate of absurdity is yet addition admonishing banderole that I’m monitoring: Bitcoin to Bucks: Crypto Admirers Borrow to Buy Homes, Cars – and Added Crypto. Right now, it’s still appealing small, so let’s achievement regulators footfall in afore it becomes a absolute problem. Excerpt:
Michael Anderson mined bitcoin in his abode allowance and larboard a accumulated job to advance in cryptocurrency projects. Back he bought his aboriginal home in San Francisco this year, he didn’t about-face to a bank. Instead, he adopted adjoin his cryptocurrency.
Crypto enthusiasts such as Mr. Anderson are borer their backing to buy homes, cars and, often, added crypto. They are accepting these loans from cipher nonbank lenders and automated, blockchain-based platforms.
Like banks, these lenders about booty deposits. Unlike banks, their deposits booty the anatomy of crypto. The crypto deposits – which acquire higher-than-average absorption ante – are acclimated to armamentarium loans to borrowers who agreement crypto as collateral. These loans booty abounding forms. Borrowers can get dollars or added acceptable currencies, or stablecoins called to them, depending on the lender they are alive with.
2) Kudos to the Wall Artery Journal for this important allotment of analytic journalism advertisement TikTok’s alarming algorithms: How TikTok Serves Up Sex and Biologic Videos to Minors. Excerpt:
The annual was one of dozens of automatic accounts, or bots, created by the Wall Artery Journal to acquire what TikTok shows adolescent users. These bots, registered as users age-old 13 to 15, were angry apart to browse TikTok’s For You feed, the awful personalized, amaranthine augment curated by the algorithm.
An assay of the videos served to these accounts begin that through its able algorithms, TikTok can bound drive amateur – amid the better users of the app – into amaranthine spools of agreeable about sex and drugs.
TikTok served one annual registered as a 13-year-old at atomic 569 videos about biologic use, references to cocaine and meth addiction, and promotional videos for online sales of biologic articles and paraphernalia. Hundreds of agnate videos appeared in the feeds of the Journal’s added accessory accounts.
Alarmingly, this botheration isn’t bound to TikTok – the algorithms, irrespective of the topic, are agnate beyond the above amusing media sites. Why? Because it’s assisting for them to advance bodies bottomward aerial holes (think QAnon, anti-vaxx nonsense, etc.), agriculture them added and added acute content, after-effects be damned.
Ironically, TikTok is a Chinese company, yet China wouldn’t abide this for a millisecond. While I don’t anticipate we should acquire annihilation abutting to their backbreaking arrangement of censorship, we acutely charge to amend our laisse-faire approach…
3) This is a abundant adventure in Sports Illustrated: Extenuative Par. Excerpt:
Jimmy Dunne would acquire been in the World Trade Center’s south belfry 20 years ago, if not for golf. The mantra he has adopted back has aerial many, including Tom Brady…
Saturday [September 11] will mark 20 years back Dunne happened to be out of his appointment back one-third of his close died in the offices. It will mark 20 years back Dunne began his mission of rebuilding. He’s appear to acquire the randomness of life. Even on this day, he says: “Someone, about is activity to die tragically because they stepped on the amiss ancillary of the street. Perfection has continued larboard the building. But if you’re active activity and you’re out and accomplishing things, and you acquire accompany and family, you [can] still acquisition the joy in life.”
Updated on Sep 13, 2021, 3:39 pm
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