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Shifty Pony posted:For example a VC might invest $100M for 10% of a company, which makes the company worth $1B. That's the number the press talks about. What they don't talk about (because it is done via confidential contracts) is that the 10% is only true if the company keeps going up Up UP! If that doesn't happen the investor gets to lay claim to more shares at a reduced price so that their original investment is made whole. So if the company IPOs at a valuation of $750M (making the initial investment worth $75M) the VC might be able to buy an additional 10% of the company for $50M... making their total ownership 20% at $150M and they didn't lose a penny. Employees on the other hand who bought shares at a time when they thought and were being told by the founders that the company was worth a billion dollars are screwed - this is kind of what happened to Square employees. oddly enough silicon valley of all shows showed me that most start-up valuations are complete bullshit and filled with fun little clauses like the one you detailed there. edit: i also genuinely like uber and think its better than taxis because taxis in the dmv region are utter garbage. it took them until 2013 to accept credit cards. no really. so i hope uber figures out a way to stick around, from a user experience its miles better than a taxi. airbnb i find creepy and weird because i think staying in someone stranger's house without them there (or even weirder: with them there) is super imposing and impolite. like you're a house guest but not really because you're paying? axeil fucked around with this message at 06:00 on Feb 9, 2016 |
# ¿ Feb 9, 2016 05:56 |
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# ¿ May 4, 2024 07:17 |
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Arsenic Lupin posted:Everybody agrees about that. What we really need is a regulatory system that allows new taxi businesses to start up, instead of providing a state-imposed monopoly on the number of people who can get permits to drive taxis. However, Uber is bypassing not only the medallion system, but also standard rules about insurance, liability, training, security checks .... all under the claim that it's just private citizens moonlighting. virginia did...something that allowed uber to operate in the state legally but i have no idea if it was an actual regulatory regime or just "okay you can operate here and not follow any laws" i think they were already righteous in DC and maryland.
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# ¿ Feb 9, 2016 06:20 |
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Google buying Twitter is the most sensible final path for Twitter. They've wanted to break into social media for a long time and Google+ is a joke that no one uses. They get a (fairly) popular platform and Twitter can stop panicking about how to monetize. Of course it'll only make people millions of dollars instead of billions so instead they're gonna do a bunch of dumb stuff and destroy the platform.
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# ¿ Feb 12, 2016 22:15 |
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so who do we all hate more now, finance or tech?
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# ¿ Feb 23, 2016 05:05 |
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TACD posted:I used to work in an Apple store in the Bay Area and a good portion of the Genius team ended up leaving for Palantir. I didn't know the company was doing badly, hope those guys are alright. they named themselves after the cursed seeing stones from lord of the rings. if that isnt a bad sign i dunno what is.
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# ¿ Feb 25, 2016 20:26 |
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Jumpingmanjim posted:http://www.streetinsider.com/Corporate+News/Valeants+(VRX)+Howard+Schiller+Issues+Statement/11436038.html holy poo poo. "guys the actual forms we are legally required to file are lying, don't listen to them, everything's fine i did nothing wrong"
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# ¿ Mar 21, 2016 16:58 |
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Jumpingmanjim posted:What's wrong with accenture? Serious trouble retaining talent, falling status (seen as third-rate by a lot of people). The number of people I've met who are former Accenture people who got out because they saw the ship sinking is immense. Don't they also have a completely messed up partnership structure where you're forced to retire but don't have to sell your shares thus forcing new partners to buy at over-inflated rates? Or are they the consulting company that's publicly owned...which is another terrible idea.
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# ¿ Mar 29, 2016 16:57 |
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Paradoxish posted:If it even occurs to you that there might be more than one way to write fizzbuzz or, hell, if any solution at all occurs to you in a minute or less then fizzbuzz and that whole class of problems are not for you. They're screening questions designed to quickly rule out candidates for development jobs who literally cannot program. It's pretty much "did you completely lie about your qualifications y/n?" I mean poo poo, even if you come from a math background and can't code for poo poo you can figure out it's all just modular arithmetic and work your way back from there. This is why we hire people who are mathematicians typically as you can teach a mathematician to code as code is just applying math concepts. You can have coders who don't understand why/how something works, but it's basically impossible to graduate with a degree in math and not understand why/how logic gates or loops or recursion works.
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# ¿ Mar 30, 2016 15:49 |
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shrike82 posted:Back in my days as a dev, the best technical interview I had involved a 6-hour remote coding assignment on a toy problem and a 2-day on site coding project of an actual business problem abstracted. This was on top of the standard fit and quant interviews. Hiring is a problem all over the place it seems. Here's a horror story of when I was in government and we were trying to hire an economist. The person who was screening the applicants had no idea what quantitative modeling was and kept throwing us people without ph.ds in economics who had no idea what a regression even was. They then got pissed we rejected all their candidates. And then when we finally got some ph.d people we'd interview them and they wouldn't get offered for another month and the HR people were confused why they all declined (it's because a bunch of financial shops were able to interview and offer them within a week instead of 2+ months plus they got paid about 50% more). The one thing the government needs is a complete overhaul of its hiring practices for anyone above entry-level. It's an absolute joke and the main reason they can't get any talent in the door.
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# ¿ Mar 30, 2016 16:18 |
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feedmegin posted:This is literally whats expected yes, congrats you are better than a ton of job applicants. What the hell do job applicants say then? I've never given a coding exercise in an interview as I feel it's pointless as my job focuses on "do you understand why a program works?" more than "can you write super awesome code that is fast?" So long as you don't write an infinite loop and crash the server I don't care what your code does so long as I can read it. And being able to read it is very, very important. I've spent the better part of a week doing debug work on someone else's code that looked like it was birthed by a demon. Ran great, but was almost impossible to debug...which is why there was a problem. Any time something upstream or downstream changed the behemoth would throw a fit and bomb out. If nothing changed it was great, but how often is that the case?
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# ¿ Mar 30, 2016 20:14 |
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Claverjoe posted:No loving way. How do people finish a 4 year degree without thinking in terms of modulus? Because it was SAS and all written in macro nested in macro nested in macro code. You had to turn on all the macro log printing options to figure out what was getting passed, which would make the simple .txt log files measure in the hundreds of megabytes. Oh and he didn't code anything except the final output to go to permanent tables so good luck figuring out which of the ~1,000 intermediate tables was hosed. It was not a fun week. feedmegin posted:They give you a blank look and panic. How the hell are they getting to the interview stage then? This isn't a hard problem, you can pass it by just doing some vague description using modular arithmetic. This seems insane axeil fucked around with this message at 20:20 on Mar 30, 2016 |
# ¿ Mar 30, 2016 20:18 |
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edit: removed as it's off topic. here's the BFC interview thread, maybe we can talk about it there: http://forums.somethingawful.com/showthread.php?threadid=3553582 axeil fucked around with this message at 20:37 on Mar 30, 2016 |
# ¿ Mar 30, 2016 20:33 |
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1337JiveTurkey posted:If there's not an epidemic of people attacking and destroying delivery trucks right now, there shouldn't be a problem when the trucks themselves are capable of reporting the crime and providing evidence. and yet when industrialization started workers who were losing their jobs to machines would intentionally sabotage them. what's to stop ups/fedex/usps drivers giving these robots some "help" when they see these things while they're driving around?
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# ¿ Apr 7, 2016 15:08 |
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Mr Jaunts posted:What does that even mean, 'listen to what it wants'? Is it more singularity-type, "we must obey our coming robot overlords" kinda nonsense? Well I mean, robots would probably be better leaders than the ones we currently have but I'm not sure that's what that book is going for.
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# ¿ Apr 7, 2016 21:35 |
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Chokes McGee posted:We already had a referendum on that in 2012, Obama won A Good Joke.
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# ¿ Apr 8, 2016 03:39 |
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Arsenic Lupin posted:Uber is going to fight to (somebody's) death to keep from classifying drivers as employees, because if they do, their "disruptive" buisiness model collapses. If they can run out the clock on that until we have autonomous self-driving cars they'll have won. The drivers are merely a transitional step, like how Netflix's ultimate goal was streaming but had to do DVD by mail for its first few years of existence as the technology wasn't ready yet.
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# ¿ Apr 28, 2016 15:51 |
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lancemantis posted:that reminds me, ban undergraduate business programs from places of university education Nah I think we should keep the only area of schools that actually are capable of getting people employed after graduation.
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# ¿ May 27, 2016 17:00 |
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Absurd Alhazred posted:More cheap medical device failure news: Fitbit heart-rate monitors highly inaccurate. I don't see the issue here. No one is using a fitbit for truly medically accurate info. If my heart rate is at 140 or 160 it's not a massive difference, it's just to get a ballpark estimate. I'd also dispute their findings as I find mine pretty much lines up when I do a manual measurement.
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# ¿ May 27, 2016 17:13 |
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Welcome to Uber Safe Rides where a driver can beat you nearly to death and Uber will refuse to release information to the police! http://arstechnica.com/tech-policy/2017/01/man-alleges-his-uber-driver-refused-to-take-him-home-then-beat-him-up/ ArsTechnica posted:
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# ¿ Jan 6, 2017 15:42 |
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Solkanar512 posted:How in the gently caress do you "refuse to provide authorities with relevant information of the driver as part of the investigation into this case"? I'm not a legal expert here, but wouldn't police just get a judge to sign off on a warrant and then use that legal authority to get the information? What the hell is going on here? I think it's like this: cops: hey one of your drivers beat someone up, can you please provide us info voluntarily to help us solve this horrible crime like basically any other non-involved human being/organization would? uber: get a warrant OR oh he was an "independent contractor" so we don't have to give you poo poo. ask his "company" for it. cops: okay go gently caress yourself. we will spend extra time and money to get your warrant, rear end in a top hat since you are not cooperating. victim:
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# ¿ Jan 6, 2017 19:02 |
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Arsenic Lupin posted:
jesus christ. that is a giant blaring klaxon that something is deeply wrong there. if you're looking for investors and are unwilling to disclose financials it means your financials are utter dogshit. there is no reason to hide them otherwise even if your company is run by randian edgelords. oh also i found this article really interesting on company strategy. seems like everyone these days takes the amazon route: https://www.joelonsoftware.com/2000/05/12/strategy-letter-i-ben-and-jerrys-vs-amazon/ Joel On Software posted:
this is the problem with everyone in silicon valley chasing unicorns. there's probably plenty of opportunity to grow a ben and jerry's/microsoft-style corporation right now but it seems like the only things getting funded are ridiculous pie in the sky ideas that are all on the amazon model. or maybe there are microsoft-style companies out there that are doing well but we haven't heard of them.
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# ¿ Jan 15, 2017 18:50 |
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Absurd Alhazred posted:If I were setting up a Ben & Jerry's company I would stay the heck away from VC's, even if they were interested. Why mess up your control structure and leverage yourself, especially when, as they say, you can survive without crazy funding rounds? hm, good point. if you can self-raise the capital you should be fine and avoid all the investment silly season.
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# ¿ Jan 15, 2017 18:56 |
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Redmark posted:Does Salesforce count? i don't know much about them, other than they have an actual product that seems to work well and aren't getting involved in any drama. so...sure?
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# ¿ Jan 15, 2017 19:09 |
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Senor Dog posted:That article says the strike was only from 6-7 and Uber's tweet was at 7:36. Did Uber actually scab (as in turn off surge pricing even earlier) and I'm reading the article wrong, or what am I missing? the tweet does not prove or disprove whether uber was scabbing or not. that said, given their reputation they almost certainly were. i hope the backlash over this fucks them right out of the market. bleeding tons of money and everyone hates you? that's a good combo.
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# ¿ Jan 30, 2017 04:36 |
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divabot posted:Some speculation on just how much of a problem being sued by Alphabet will be for Uber, particularly when they get to discovery. knowing how absolutely scummy uber is i have no doubt that Otto was conceived from the start as a (very dumb) scheme to steal google's IP.
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# ¿ Mar 13, 2017 22:26 |
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Doggles posted:Remember that guy who stole self-driving car prototypes from Google to start his own business, and then sold that business to Uber? Turns out he was still working for Google at the time he did it. And new updates roll in. Now Uber/that guy are claiming they can't disclose anything related to the acquisition on grounds of self-incrimination in criminal proceedings. https://arstechnica.com/tech-policy/2017/04/ubers-levandowski-really-doesnt-want-to-talk-about-any-waymo-documents quote:When Uber bought Anthony Levandowski's startup Otto for $680 million, an unnamed third party conducted a "due diligence review." Now, Levandowski and his lawyers are fighting hard to keep that review under wraps. What the gently caress did they do?
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# ¿ Apr 5, 2017 15:33 |
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rscott posted:Uber took a bunch of VC and paid a Google executive to commit industrial espionage I suspect it's either that or Uber knew Otto was built entirely on stolen tech and told their due diligence team to suppress sending any documents that would expose that fact. Either way they are turbo-hosed. Good riddance. (USER WAS PUT ON PROBATION FOR THIS POST)
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# ¿ Apr 5, 2017 16:01 |
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exploded mummy posted:The actions taken thus far has been civil, and as such invoking the fifth meant that the case has now possibly escalated into the realm of criminal, which is what I believe axeil was trying to emphasize. This is correct. Claiming the 5th in a civil case is very unorthodox as far as I'm aware as it implies you/your attorneys believe there is criminal wrong-doing you need to be shielded from but IANAL so if an actual lawyer has better insight I defer to them. At the very least, it implies there could be a criminal investigation which I don't think anyone really saw coming. Subjunctive posted:What's the significance of that difference? Again, IANAL but to my knowledge you can't refuse to hand over documents as evidence. You can't be compelled to verbally testify against yourself but if you wrote a document that said "it's me I did it" or had other physical pieces of evidence you can be compelled to turn those over. axeil fucked around with this message at 21:30 on Apr 5, 2017 |
# ¿ Apr 5, 2017 21:27 |
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Today in "Uber is hosed": Uber unable to produce subpoenaed documents related to the Waymo/Google case. Judge smacks them down and says they're cruisin' for a preliminary injunction. https://arstechnica.com/tech-policy/2017/04/judge-orders-uber-to-search-servers-work-harder-to-find-waymos-14000-files/ Ars posted:Judge orders Uber to search servers, work harder to find Waymo’s 14,000 files
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# ¿ Apr 6, 2017 15:15 |
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call to action posted:Does wiping the files and hoping people don't find out become a good option at this point? I figured the more likely scenario was that they're stored on an external flash drive that is never connected to the overall Uber system. That or Uber has some crazy system that masks files related to lawsuits. I mean it sounds nutty but then again they had a routine in their app that prevented cops from finding them operating in jurisdictions where they're not allowed. pre-emptive puppy so i don't get probated again:
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# ¿ Apr 6, 2017 15:34 |
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pangstrom posted:Yeah that's what I was thinking, except then you've got a problem getting relevant information to your engineers etc., or outright telling them "hey these documents can't be on the system for uh reasons" which would be a bad idea even in the context of a man who apparently has a lot of bad ideas. Maybe he condensed crucial stuff in some summary documents, or maybe he just poured over them himself to give his folks "helpful design tips" or "avenues to explore"? Yeah I figured he either summarized the documents, re-created them in a way that wouldn't trip searches for the same documents or somehow put the stuff on an air-gapped server that Uber isn't aware of. Of course this assumes that Uber is telling the truth that they searched and didn't find them. I find it much more likely they "searched" or have some sort of masking program for all their shady/unethical documents to prevent discovery. Arsenic Lupin posted:You'd expect somebody to slip and copy something over, just because people are careless. "I need this on my local share because other reasons." Uber's business model straight up fails if they lack self-driving tech in the next 5 years. They're only getting 40% of the revenue needed to cover the cost of each ride with a human driver and are bleeding money. There's no chance of another round of venture capital funding given all the problems they have and an IPO would be a disaster. On top of that they're already having issues retaining drivers because the pay is so horrible. if they need to jack up rates they're going to hemorrhage customers and go into a death spiral. It'd be like if Netflix lost money on every DVD they mailed you and were legally barred from making an online streaming service. It's potentially a death sentence.
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# ¿ Apr 6, 2017 16:00 |
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MikeCrotch posted:I'm pretty sure Google found out about this whole thing through someone doing database forensics and discovering that Levandowski has downloaded 14,000 onto external media in a suspect way, just before leaving the company. Also their manufacturer calling them and saying "uh Uber just asked us to make literally the exact same LIDAR part we made for you and we are telling you so we don't get sued for giving other people your IP, you may want to check this out" puppy:
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# ¿ Apr 6, 2017 16:15 |
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fishmech posted:See also: people hyped themselves up that Tesla's Model 3 would be the first "affordable" (read: only as expensive as a pretty typical car) electric car with decent range. Turns out Chevy released their Bolt several months ago, with slightly better range and basically the same price the Model 3 was targeted at, while the Model 3 still isn't really in production. Turns out no amount of trying to crush unions and hype yourself up as a disruptor is enough to make up your disadvantages against a full on auto manufacturer. I'm not sure if not being first to market will matter for Tesla, they've got a strong brand identity in the electric space. As far as interior design goes, that has nothing to do with being an electric vehicle. Different car brands have different looking interiors. Tesla's "thing" is having all indicators on a central console panel. Chevy's design doesn't have that. A Mazda doesn't look the same as a Honda which doesn't look the same as a Tesla, etc. I don't think that's a fair criticism of Tesla's strategy (although if you personally don't like it, it's a fair argument for why you'd prefer one over the other).
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# ¿ Apr 6, 2017 17:03 |
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Zachack posted:IMO the Bolt price being roughly the same as a Volt does not help it. I bought a Volt because the ~50 mile range means I get most of the work week without having to charge it overnight, and the gas option means longer distance travel can be done without planning or considering charge stations. I've owned the Volt for about 3.5 months and only filled the gas tank once, and even then I probably didn't need to thanks to an unexpected charging station at my destination. Yeah I remember when the Volt was first announced I thought it was far more attractive than a pure-EV vehicle and yet I still didn't get one when I got a new car (a Chevy even) because the additional cost just didn't make much of a sense from a savings perspective. Possibly people aren't buying the Bolt because it's "just" a Chevy while Tesla has some better branding so it's seen as more of a status symbol, like the Prius back in the early 00s.
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# ¿ Apr 6, 2017 18:11 |
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stop_hes_already_dead.avi https://arstechnica.com/tech-policy/2017/04/uber-said-to-use-sophisticated-software-to-defraud-drivers-passengers/ Ars posted:Uber said to use “sophisticated” software to defraud drivers, passengers
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# ¿ Apr 6, 2017 19:30 |
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aware of dog posted:So who's gonna play Kalanick in the Adam McKay movie about Uber? What was the rationale before for denying them? Is this a good thing or bad thing for everyone? Do we finally have those clinics from GATTACA where we can take our SO's DNA to be tested?
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# ¿ Apr 6, 2017 21:36 |
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aware of dog posted:Here's an article about the reversal. If I understand it, the FDA had concerns about the accuracy of their tests, and they didn't want people to be misled by a risk assessment into "self-diagnosing" in a certain sense. They're limited to tests for 10 diseases, and maybe their tech has improved in the past few years. I think the fear is that consumers won't properly interpret the results of these tests and try to prevent the diseases on their own in ways that may be more harmful than helpful. Huh. Presumably doing the test and then if the percent chance is high enough you should talk with a doctor to see if there's anything you can do to decrease the risk would be the medically prudent advice, no? Although now that I look at the list I'm not sure there's much to be done about the genetic diseases they test for. edit: I think the big part of the article is buried at the end. 23andMe worked with the FDA to get their tests up to the caliber needed for approval and eventually got the approval, with potential new tests getting future approval. Compare that to Uber who constantly pisses on everyone. It's almost like...regulators aren't assholes who want to arbitrarily block stuff but have legitimate concerns that, if addressed will pave the way to approval! axeil fucked around with this message at 22:06 on Apr 6, 2017 |
# ¿ Apr 6, 2017 22:02 |
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Discendo Vox posted:They had a whole exhibit about what a boondoggle the Concord was. But the Concord was Cool and Good and who cares that it could only land at like 3 airports in the world because otherwise it would cause shockwaves that destroyed local homes/businesses? Actually though I really thought the Concord was neat and served a niche for people who for whatever reason really need to make a trans-Atlantic flight fast
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# ¿ Apr 27, 2017 21:33 |
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A Man With A Plan posted:Yeah I'm familiar, was speaking about future expansion. My ideal future line (besides the Purple) is one that would go in a semicircle from georgetown, connecticut ave, admo, columbia heights, bloomingdale, then head south and hit H street, and finish around Lincoln park / Eastern market. Also it would be nice if it was open past midnight and didn't catch on fire, but can't have everything. My ideal for Metro is also for it to not constantly catch on fire/break/be utterly hosed by horrific management and lovely workers. It is loving incredible that someone who falsified safety records that led to a woman's death was forced to be re-hired. Everyone involved in that from top to bottom should've been gone and the organization should've done some serious reform. Instead they just shuffled some stuff around and ignored that it was a complete failure of management and workers to actually give a poo poo about anything. The system is so badly hosed. They should work on fixing all their usability/reliability issues before expanding more. The Silver Line opening is when everything started to go to poo poo. I mean hell, they killed off all the late night hours on the weekends because they were unable to actually keep things from catching on fire and killing people without those extra ~6 hours/week. There could probably be a huge book written about how at every juncture Metro has taken the wrong step. I will say, at least the new GM seems to give a poo poo unlike the previous dude who lied through his teeth and resigned before poo poo really started to hit the fan. Of course, none of this is ever going to get fixed because the only way to do it is both massively increase funding and guarantee funding and the entire region is hesitant to do so because Metro has done poo poo like pay a billion dollars for Metro Forward which did nothing but create sexist advertisements make the tracks catch on fire more. If there was one area where maybe some ~*disruption*~ could do some good it's public transit. At least here in DC the incumbent doesn't give a poo poo about following safety regulations and creating a product people want to use, so it couldn't be any worse. Maybe if Musk's boring company can make some kinda crazy underground autonomous car thing work it'll help fix what ails transit in America. axeil fucked around with this message at 17:38 on Apr 30, 2017 |
# ¿ Apr 30, 2017 17:32 |
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# ¿ May 4, 2024 07:17 |
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blah_blah posted:I agree. But the issue here isn't those assignment of invention clauses that virtually everyone at every tech company signs. The issue is large-scale theft of intellectual property. There's no point in conflating the two. Yeah this isn't "I made a cool little app on my own time that turns out to have some serious implications so I'm quitting and making a new company", this is "I literally stole the stuff I built for you and sold it to another company." The first the primary company either isn't going to care or you can negotiate some kind of settlement. The second involves people going to jail and businesses being fined into the ground. edit: Even the first case can be bad if the "cool little app" is important enough, because it's basically what happened to Facebook and Zuck had to pay out millions. It's just that the second is so much worse. axeil fucked around with this message at 16:43 on May 5, 2017 |
# ¿ May 5, 2017 16:39 |