Things we are reading today - May 11th, 2023

More bad news on the AI front as Microsoft said on Wednesday it will not raise salaries for full-time employees this year. Microsoft, which is now focused on lucrative generative AI, has said that it is going to make some tough calls that are inclined towards the future of the business, considering the current macroeconomic situation.

https://twitter.com/vitaliyk/status/1655996122601783296?s=19

If you’re a fan of Berkshire Hathaway shareholder meetings, this is pure gold. A few solid quotes from the OGs - Munger and Buffet :slightly_smiling_face:

The TLDR was advising people not to focus on short term noise. Berkshire is well positioned on that front.

It’s like almost anything they say is etched forever in finance.

“Value investing will be fine; people will continue to do dumb things.”

“People are trying to outsmart each other in arenas that you don’t have to play in.”

"If you want to know how to live your life, write your obituary and then reverse engineer it so that you can live up to it.”

- Buffet

“Spend less than you earn, avoid toxic people, toxic activities, keep learning all your life, defer gratification because you prefer it that way, and if you do it all this way you will succeed. If not, you will need a lot of unusual luck.”

- Munger

A lot of announcements from Google on AI. :point_up_2:

News from Robinhood is that they’re to start 24-hour trading of selected stocks and exchange-traded funds, five days a week (weekdays).

EV Future has arrived in Norway

By 2025, Norway wants to stop selling automobiles with internal combustion engines. This article highlights how the nation has been a pioneer in the use of electric vehicles and offers proof of their advantages, including reduced emissions and improved air quality. The difficulties of switching to electric vehicles are also discussed in the article, including the necessity for additional charging infrastructure, unhealthy levels of microscopic particles generated partly by the abrasion of tires and asphalt and the potential for higher electricity usage. Overall, the study concludes that other nations and regions seeking to cut emissions and improve air quality can learn a lot from Norway’s experience with electric vehicles.

Narrative over numbers

According to the article on the Molly White Newsletter, Andreessen Horowitz, a venture capital firm and advocate of cryptocurrency, recently released their “State of Crypto” report. In short, the report encourages people to continue investing in cryptocurrency, and the firm is willing to publish misleading information to support their agenda,. The report seems to be biased in favor of crypto and may not present a balanced view of the risks involved in investing in this market. It is important for investors to do their own research and exercise caution when investing in cryptocurrency or any other financial asset.

Censorship-Industrial Complex

“Censorship Industrial Complex” - is a network of organizations and individuals who work to control the flow of information and suppress dissenting voices on the internet. The article goes on to claim that this complex is preparing to launch a coordinated attack against reporters who have been investigating Twitter’s censorship practices. Furthermore, the article mentions a report called “The Top 50 Organizations to Know” which provides more information on the organizations involved in this complex. The article also highlights the potential dangers of this censorship industrial complex and advocates for greater transparency and accountability in the realm of online censorship.

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