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Post by Honk If You're Horny? on Nov 3, 2023 19:10:07 GMT
It's madness that people believe 20 year old tech bro wizz kids have the ability to manage large organisations with no experience.
It's symptomatic of a wider "do your research" Internet generation who eschew existing practices. Whether that's audit and compliance or medicine and pharmacoepidemiology. They believe they know better because of Google.
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Bongo Heracles
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Post by Bongo Heracles on Nov 3, 2023 20:11:13 GMT
In very slight mitigation, eroding our trust in experts and institutions has been very deliberate to allow rich people to do pretty much exactly this.
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harrypalmer
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Post by harrypalmer on Nov 3, 2023 23:56:53 GMT
Honestly can’t wait for the movie.
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Blue_Mike
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Post by Blue_Mike on Nov 6, 2023 23:06:49 GMT
Hang on a minute:
I see what you did there PCG.
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Post by DJCopa on Nov 7, 2023 9:43:07 GMT
This is so on-brand for this scam - they didn't use UV-A (used at Nightclubs, etc) but instead, the sort you use to clean ponds and can/will blind you if exposed for long periods.
So mad!
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dam
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Post by dam on Nov 7, 2023 13:09:41 GMT
Used to work in a lab that had a suite of lab hoods in a room with the bad UV bulbs, if no one was using the room, the UB lamps were on to kill any bugs floating about.
A student forgot to turn it off when he went in, noticed after a few minutes he felt a bit hot. And looked a bit blue.
Got serious burns on all exposed skin.
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Vortex
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Post by Vortex on Nov 7, 2023 13:51:59 GMT
Must be a common-ish one- My work had some eejit (who should have known much better) who came in to help a student cut a band out of a gel on a transilluminator, but forgot to put on the protective visor while leaning over it.
Got some serious sunburn and I think had to get various tests for retina damage too. Maybe had to wear shades to prtect the eyes for a while? This is lost in the mists of time from 20+ years ago though.
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sport✅
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Post by sport✅ on Nov 7, 2023 13:55:06 GMT
Reminds me of the time I had to dump sand and boron over Chernobyl. Had a cheeky peek out the helicopter - still got the burn marks.
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jono62
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Post by jono62 on Nov 7, 2023 14:02:53 GMT
Reminds me of the time I had to dump sand and boron over Chernobyl. Had a cheeky peek out the helicopter - still got the burn marks. I can see them in your photo.
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Fake_Blood
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Post by Fake_Blood on Nov 7, 2023 15:51:03 GMT
This has happened before, people order cheap UV lights from China, and either don’t know the difference between UV-A, B or C, or the AliExpress ad is just mislabelled. UV-C tubes are transparent instead of black/blue, and they produce a massive amount of ozon which might go unnoticed in a large space. The ones we have in our hospital have motion trackers that turn them off, they are that nasty.
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Post by 😎 on Mar 28, 2024 16:30:53 GMT
25 years for Sam Bankman-Fried then.
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Post by Danno on Mar 28, 2024 16:34:50 GMT
Seems fortunate, wasn't the prosecution asking for 80? And Madoff got 150 (although barely anything could be recovered in that scam)
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Post by jimnastics on Mar 28, 2024 16:47:14 GMT
Spoke to a friend recently who has non-life changing but still a depressing amount of crypto/money tied up in the FTX bankruptcy, he's active in various creditor committees and whatnot. The consensus now is that creditors will get 90-100% of their claims paid out at some point, though it will be at dollar value as of Nov 2022. So considering btc, eth and various others have 2x since then, anyone who held crypto on the exchange when shit hit the fan (like him) will still be 50% out of pocket assuming crypto stays at current levels or above, but fuck it, that would be a hell of a result considering how it was looking earlier this year. Large claims are now trading at 50% which suggests big money buyers are confident of close to 100% recovery, as they generally look for a 2x return. One big factor is SBF invested $500m of creditors stolen money into Anthropic, a stake which is now worth approx $2b and rising and is held by the estate. The Debtors also seem to have done a decent job of untangling a web of assets, crypto and holdings and bringing it all in, I gather right now the estate is likely solvent with regards to creditor claims, the problem at the moment is it's mostly illiquid with only a relatively small % in cash and liquid crypto, but at least it's there and will get sorted. One interesting thing he mentioned is that there are currently 3 major bidders (to be revealed in December, I believe) to take over the FTX brand and relaunch the exchange, with creditors possibly being given equity in some form of token. This brings into play potential recovery for creditors going over 100%, as they esentially are part-owners of the exchange. Seems a hell of a stretch to me to think anyone would come back to an FTX branded exchange even under completely different management, purely because of damage to the brand. But he made 2 decent points - 1) the relaunched exchanged could be the first and only crypto exchange to have full proof of reserves and a legitimate regulated custodian and 2) you've got millions of creditors, now equity holders, who are massively incentivised to make it a success. It's kind of fascinating to me hear from inside the bankruptcy, when the belief in the general public is that everyone lost all their money. That aint's the case. Looking like creditors will now get 110-140% back of account USD value at petition date, depending on fiat/crypto ratio held on account. Large claims are selling now for 90%+ which is kinda nuts when you think they were selling for 10% in the months straight after the collapse (those early large claims buyers are about to make a fortune on their punts). FTX2.0 got nerfed by the Debtors, creditor committees calling foul play on that, apparently shady goings on with the Debtors and their buddies (https://www.ft.com/content/ea70fa4e-3f63-422c-8f6e-142a6cac62b0). A group of large creditors have filed adversory proceedings (big boy shit) against the Debtors to argue for damages for their lost value in crypto, to go on top of the 110-140%. Next few months will be interesting on that front!
25 years seems somewhat lenient I guess, but the impression I get from my buddy is that most creditors have moved on from the side of the whole thing. Sullivan and Cromwell (the laywers running the bankruptcy) are the new enemy.
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sport✅
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Post by sport✅ on Mar 28, 2024 17:39:41 GMT
25 years for Sam Bankman-Fried then. Shit, one of the good ones.
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gamecat
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Post by gamecat on Mar 28, 2024 18:16:39 GMT
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Post by Jambowayoh on Mar 28, 2024 19:40:40 GMT
The lesson here is that if you fuck over ordinary people then it's a slap on the wrist for you. Fuck over rich people and they want blood and they get it.
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Bongo Heracles
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Post by Bongo Heracles on Mar 28, 2024 21:07:48 GMT
The way they justify these sentences is that he’s not just stolen a million dollars, he’s stolen a dollar from a million people.
He’s ruined the lives of thousands of average joes which is why you get so fucked on fraud on this scale. It’s not just millionaires but normal people losing their savings. And, yeah, I get it. The actual reach of the crime is enormous.
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