JusRelax
Active Member
Boy am I glad that we have a CEO that is an enigneer that knows his sh*t.
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Elon & Twitter
- Thread starter Buckminster
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I came across the above via Techmeme. Their link text/synopsis was "Interviews with 36 current and former Twitter employees and people close to the company detail the excruciating fallout of Elon Musk's first two weeks in charge".
Some of what was there I knew and some was insightful.
If one gets hit by paywall, these should work:
Two Weeks of Chaos: Inside Elon Musk’s Takeover of Twitter
Mr. Musk ordered immediate layoffs, fired executives by email and laid down product deadlines, transforming the company.
Inside Elon Musk’s Takeover of Twitter - The New York Times
archived 12 Nov 2022 07:12:15 UTC
That exists already in most situations using IBAN (International Bank Account Number) which was invented for exactly that purpose; to facilitate instant free transfers within the Eurozone. IBAN, with associated technical implementation infrastructure, has been implemented in many countries. Many US banks can now accommodate instant transfers between US accounts and Eurozone ones. Even in non-Euro accounts can have the same ease, for example US-Brazil, Eurozone-Japan transfers now happen instantly when IBAN is used. Though that is factual, the foreign exchange laws and fees are NOT standardized nor are regulations consistent. Even with that limitation most credit and debit card systems globally do near-instant transfers through a process similar to netting, which also vastly reduces costs.
There is an organization called the Bank for International Settlements (BIS) that has a constant mission to reduce global monetary friction:
The BIS, arcane though it is, has had huge impacts. The global credit and debit card net settlement systems happened with major help from BIS. The cross border project also deals with securities settlement issues also. Sadly for us, US national rules are antdeluvian ones that benefit entirely the market makers and the Depositary Trust Company (DTC) processors. Here on TMC we often talk of short sellers, almost entirely ignoring the role of the settlement processing (including the infamous 'fail to settle'). The subject goes on and becomes ever more arcane.
The result of this habitual ancient infrastructure in the US is huge indirect and nearly invisible costs, exceeded only by systemic risks.
In much of the world settlement, transfers and FX itself is standardized and automated.
(Not to veer too much off-topic the countries with the most advanced settlement and transfer systems also often have the most advanced voting systems.
My regular example, Brazil, has a transfer process called PIX that instantly transfers money between any two accounts in the country with zero cost and using 'keys' that allow using cellular numbers, email address or a national fiscal ID (CPF) to define all needed data. That system also works flawlessly. The voting system is also fully automated and works worldwide in Brazilian Consulates and in every corner of the country, including Amazonian boats. Both of those work because of continuing investment in new technologies that are subject to robust testing. The net result is high universal acceptance of both systems.
Such approaches are not unusual around the world. They vastly increase confidence because of their speed, ease and accuracy.
Whether Elon Musk can successfully implement such techniques plus lending, underwriting, administration and processing of the global institutional and commercial banking, investment banking processes is not known. At the moment it seems improbable, if not impossible. That is just the kind of challenge Mr. Musk finds impossible to ignore. He has been known to admire M-Pesa (look it up), itself an almost miraculously simple solution to insoluble problems.
BobbyKings
S85D > M3P > S Plaid
Looked up M-Pesa. Interesting to say the least.That exists already in most situations using IBAN (International Bank Account Number) which was invented for exactly that purpose; to facilitate instant free transfers within the Eurozone. IBAN, with associated technical implementation infrastructure, has been implemented in many countries. Many US banks can now accommodate instant transfers between US accounts and Eurozone ones. Even in non-Euro accounts can have the same ease, for example US-Brazil, Eurozone-Japan transfers now happen instantly when IBAN is used. Though that is factual, the foreign exchange laws and fees are NOT standardized nor are regulations consistent. Even with that limitation most credit and debit card systems globally do near-instant transfers through a process similar to netting, which also vastly reduces costs.
There is an organization called the Bank for International Settlements (BIS) that has a constant mission to reduce global monetary friction:
The BIS, arcane though it is, has had huge impacts. The global credit and debit card net settlement systems happened with major help from BIS. The cross border project also deals with securities settlement issues also. Sadly for us, US national rules are antdeluvian ones that benefit entirely the market makers and the Depositary Trust Company (DTC) processors. Here on TMC we often talk of short sellers, almost entirely ignoring the role of the settlement processing (including the infamous 'fail to settle'). The subject goes on and becomes ever more arcane.
The result of this habitual ancient infrastructure in the US is huge indirect and nearly invisible costs, exceeded only by systemic risks.
In much of the world settlement, transfers and FX itself is standardized and automated.
(Not to veer too much off-topic the countries with the most advanced settlement and transfer systems also often have the most advanced voting systems.
My regular example, Brazil, has a transfer process called PIX that instantly transfers money between any two accounts in the country with zero cost and using 'keys' that allow using cellular numbers, email address or a national fiscal ID (CPF) to define all needed data. That system also works flawlessly. The voting system is also fully automated and works worldwide in Brazilian Consulates and in every corner of the country, including Amazonian boats. Both of those work because of continuing investment in new technologies that are subject to robust testing. The net result is high universal acceptance of both systems.
Such approaches are not unusual around the world. They vastly increase confidence because of their speed, ease and accuracy.
Whether Elon Musk can successfully implement such techniques plus lending, underwriting, administration and processing of the global institutional and commercial banking, investment banking processes is not known. At the moment it seems improbable, if not impossible. That is just the kind of challenge Mr. Musk finds impossible to ignore. He has been known to admire M-Pesa (look it up), itself an almost miraculously simple solution to insoluble problems.
One could see why Elon would admire this, or at least the underlying principles.
Is this where all the synergies of Twitter, Starlink and Tesla AI come together?
One could dream
...
hacer
Active Member
I never made the claim that twitter was previously "well policed". It wasn't. But for those who actually had the blue identity check, it WAS a reliable indicator that the account was who/what it purported to be. Over the years long before he bought Twitter there were thousands of accounts pretending to be Elon Musk and all of them had one thing in common: no blue check, while his real account did have the blue check. It was an extremely dumb idea to completely alter its meaning/purpose while leaving its appearance identical especially since it was well known that there were large numbers of imposters continuously appearing who would do everything (except get that blue check - because they couldn't) in order to scam/mislead etc.
I agree that we should give him time before passing a final judgement but I think criticism is fair when the changes he actually makes are so obviously dumb that a child could realize it would fail spectacularly. Things like firing the staff before he even knows what they do, changing the meaning of the checkmark from "verified identity" to "payment received", or even buying Twitter in the first place when you don't even know that content creators are paid rather than charged on other social media platforms are such examples worthy of criticism.
sleepydoc
Well-Known Member
sleepydoc
Well-Known Member
JRP3
Hyperactive Member
It disagrees with anything remotely critical of Elon. Probably a bot.
Knightshade
Well-Known Member
ElectricIAC
Good-Natured Rascal
Just the doomer stuff regarding Twitter situation.
Musk should have paid more attention to Tesla and made it a first class car company. Instead he buys twitter and gets completely hosed. Dude just stick with what works.
sleepydoc
Well-Known Member
Don’t blame us - Elon’s the one that’s been making a mess out of things! I’m not claiming Twitter was perfect before but no one in their right mind can say it’s better now and even the most ardent sycophant is hard pressed to explain or justify the circus of the last 2 weeks.
It's baffling that anyone thinks Elon doesn't understand how to manage humans and human behavior problems, after Elon created the company cultures that solved "impossible" engineering problems.
If Elon is ignorant about human behavior, why was an Air Force general asking him about it?
Knightshade
Well-Known Member
It's baffling you think one solves, or is even related, to the other.
The first one requires understanding universal laws that always apply everywhere, then paying hundreds or at most thousands of highly trained engineers and scientists in specific fields- who have at least vaguely similar educational background and goals and a respect for science in common- to accomplish specific tasks toward a specific goal.
The second one requires figuring out something for which there are no such universal laws, where you're dealing with hundreds of millions of different people of vastly different backgrounds with nothing inherently in common, NOT on your payroll, and having many inherently, deeply adversarial goals and intentions from each other-often in heavy and direct opposition to one another-- and trying to figure out some way for them not to be jerks to one another.
"He got rocket scientists to make better rockets" and "He got the KKK and NAACP to get along civilly" are vastly different.
Physical engineering and social engineering are not remotely similar or comparable and being awesome at one does not make a case, even slightly, for being any good at the other.
It's possible both you and Elon share an inability to understand the difference though- because he also seems to think there's some "first principles" approach to human behavior as if it's just physics and totally solvable, and it's...really not.
And the fact he's already directly told us his "plan" is pretty much "just keep trying lots of dumb things and hope something eventually works" makes it clear he has no magic insights into the actual solutions for this.
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Sounds like you lack education about human behavior. Have you studied psychology? Behaviorism? Advertising?
Sounds like the buyers of Tesla products (in China, USA, EU), who have been growing exponentially.
You clearly misunderstand Elon's stated goal for Twitter. Free speech does require humans to stop being jerks. It only requires giving everyone a chance to speak.
Knightshade
Well-Known Member
Yes- I have.
Unlike Elon.
I also studied physics- like Elon.
Which is why I understand the vast difference.
....what?
I mean, Klansman and minorities both buy bottled water too, but I don't magically think the CEO at Evian can solve racism.
Why do you?
Except that's not actually his goal. Letting EVERYONE speak gets you 4chan. Or 8chan.
Which already exist and are dumpster fires of human garbage, because that is what you always get if you let everyone say anything to a worldwide audience at no cost (free).
He's already walked back his free speech absolutism multiple times now--increasingly admitting moderation and rules remain needed and you can't just let anybody say anything... if you still think that's his goal you're WAY behind. Just a couple of examples:
Elon Musk said:
Elon Musk said:
The fact he's had to walk it back multiple times is, yet again, evidence he never had a PLAN for twitter, just some vague ideas he thought would be cool and is now realizing maybe this "human behavior" thing is more complicated than he realized.
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AlanSubie4Life
Efficiency Obsessed Member
This is a good idea, hadn’t seen it mentioned:
Thanks--this article does the most to explain what might be going on with Elon and what we've been seeing for the past couple of years. The blunders and chaos keep piling up. I don't know what the answer is. I worry about the long-term impact on EM's reputation and the blow-back on Tesla, SpaceX. Whatever happens, I'll sure be glad when this period is over.
Well, you're right, I should have qualified "giving everyone a chance to speak" with within limits of the law. Shouting FIRE! in a crowded theater is not allowed. But "within legal limits" is also what Elon has said from the beginning.
You seem to believe that Elon's goal is to make everyone civil. But the definition of "civil" is a bit subjective. I'm not sure "dumpster fires of human garbage" would qualify. But I suspect Elon's understanding of AI will help Twitter's AI weed out "DIE [EXPLETIVE] DIE!" from the tweet stream. Your more subtle incivility will probably not be censored.
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