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Beware the cloud of hype - The History of the Web

The rise of dot-com companies was pitched as a no consequences gold rush. We were on the precipice of a fictional future where everyone would be cashing in on the web. The reality was quite a bit more slow, and boring. Business on the web consolidated, as we now know, and left most people holding the bag. There’s no knowing exactly what will happen with AI technologies, but it wouldn’t be unreasonable to expect something far more boring and centralized than what’s being promised.

ongoing by Tim Bray · Money Bubble

What we’re seeing is FOMO-driven dumb money thrown at technology by people who have no hope of understanding it. Just because everybody else is and because the GPTs and image generators have cool demos.

What’s going to happen, I’m pretty sure, is that AI/ML will, inevitably, disappoint; in the financial sense I mean, probably doing some useful things, maybe even a lot, but not generating the kind of profit explosions that you’d need to justify the bubble. So it’ll pop, and my bet it is takes a bunch of the finance world with it.

This is mostly about the intersection of finance, hype, and technology, but Tim mentions something that I’ve also been saying:

I’m super impressed by something nobody else seems to talk about: Prompt parsing.

Maybe it’s because I spent formative users playing text-only adventure games, but I am way more impressed by the way generative tools do natural language parsing than I am by their output.

Letter in Support of Responsible Fintech Policy

A well-written evisceration of cryptobollocks signed by Bruce Scheier, Tim Bray, Molly White, Cory Doctorow, and more.

If you’re a concerned US computer scientist, technologist or developer, you’ve got till June 10th to add your signature before this is submitted to congress.

Crypto: the good, the bad and the ugly | Seldo.com

A very even-handed and level-headed assessment by Laurie, who has far more patience than me when it comes to this shit.

The Handwavy Technobabble Nothingburger

Any application that could be done on a blockchain could be better done on a centralized database. Except crime.

This resonates:

I’m not alone in believing in the fundamental technical uselessness of blockchains. There are tens of thousands of other people in the largest tech companies in the world that thanklessly push their organizations away from crypto adoption every day. The crypto asset bubble is perhaps the most divisive topic in tech of our era and possibly ever to exist in our field. It’s a scary but essential truth to realise that normal software engineers like us are an integral part of society’s immune system against the enormous moral hazard of technology-hyped asset bubbles metastasizing into systemic risk.

The Non-Innovation of Cryptocurrency

There is zero evidence that crypto is creating any technical innovation connected to the larger economy, and a strong preponderance of evidence it is a net drain on society by circumventing the rule of law, facilitating tax evasion, environmental devastation, enabling widespread extortion through ransomware and incentivizing an increasingly frothy ecosystem of scams to defraud the public. Nothing of value would be lost by a blanket cryptocurrency ban.

Blockchain and Trust - Schneier on Security

Honestly, cryptocurrencies are useless. They’re only used by speculators looking for quick riches, people who don’t like government-backed currencies, and criminals who want a black-market way to exchange money.

Bruce Schneier on the blockchain:

What blockchain does is shift some of the trust in people and institutions to trust in technology. You need to trust the cryptography, the protocols, the software, the computers and the network. And you need to trust them absolutely, because they’re often single points of failure.

IndieWeb is on Open Collective

You can help support the indie web community with their fairly modest costs: about $200 each month for hosting, domain names, and the like. Also:

We want IndieWeb events to be as accessible as possible, regardless of personal barriers. Because of this, we have offered a travel scholarship fund in the past to underrepresented groups thanks to our generous sponsors. Your support will allow us to continue to offer and expand this scholarship fund, helping make sure that IndieWebCamps represent everyone.

BLDGBLOG: Islands at the Speed of Light

Freaky stuff. If you’ve seen Kevin Slavin or James Bridle talking about the increase in property prices on Wall Street as the buildings get closer to the network hub …that’s nothing—these are the new centres of world power; places where the speed of light interferes least with the speed of transactions.

The Patent Epidemic

An article delving into the crazy, crazy world of the US Patent Office.