#Tag
I love it (/s) on second hand marketplaces when items are listed as "Completely new and unopened" and then you read the description and it says "Only used once" or "Opened to check the size".
Okay, okay. 馃檮 So it's unopened aside from the time you opened it? And it's unused aside from that one time you used it? Got it.
Bubble's gonna burst!
OpenAI generated US$4.3 billion in revenue in the first half of 2025, according to financial disclosures to shareholders.
The artificial intelligence firm reported a net loss of US$13.5 billion during the same period, with more than half attributed to the remeasurement of convertible interest rights.
Research and development expenses were its largest cost, totaling US$6.7 billion in the first half.
(OpenAI current valuation: $500Bn.)
https://www.techinasia.com/news/openais-revenue-rises-16-to-4-3b-in-h1-2025
I'm not sure #SEC of last few decades would have ever investigated this kind of #Investment #capitalism. Company #Stock #buybacks have became a major #marketplace #engine without any real scrutiny.
The article had a provocative title: "The optimal amount of fraud is non-zero",
https://www.bitsaboutmoney.com/archive/optimal-amount-of-fraud/
TL;DR: There's some amount of friction in the #marketplace that prevents #fraud and prevents a large amount of non-fraud. Somehow understanding and tuning for that is what can make or break a #business.
I just read #wiki to catch up on #Kickstarter, and there's definitely an optimal amount of how much of a #business platform you can move to the #blockchain, and it's exactly zero.
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I'm catching up on @pluralistic 's newsletter and there was a line in https://pluralistic.net/2025/09/05/be-the-first-person/#to-not-do-something-that-no-one-else-has-ever-thought-of-not-doing-before that reminded me of an article I read recently:
> So #Kickstarter jettisoned the escrow step, handing campaign creators the full payout and then trusting them not to run off with the dough. The platform understood that this would allow a certain amount of #fraud and failure, but deemed it worthwhile, especially after they took countermeasures to minimize backer losses, such as...
1/2
The article had a provocative title: "The optimal amount of fraud is non-zero",
https://www.bitsaboutmoney.com/archive/optimal-amount-of-fraud/
TL;DR: There's some amount of friction in the #marketplace that prevents #fraud and prevents a large amount of non-fraud. Somehow understanding and tuning for that is what can make or break a #business.
I just read #wiki to catch up on #Kickstarter, and there's definitely an optimal amount of how much of a #business platform you can move to the #blockchain, and it's exactly zero.
2/2
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