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Elizabeth Lopatto

Elizabeth Lopatto

Senior Reporter

Senior Reporter

    More From Elizabeth Lopatto

    Elizabeth Lopatto
    Elizabeth Lopatto
    A lawyer’s take on the Ripple ruling from earlier today.

    So today’s ruling — using the much-contested Howey test — may be appealed by both sides, says Ann Lipton.

    What about future crypto cases? Well, the thing about crypto is, the facts are different in every case. Assuming the Ripple decision is followed in other cases, some would involve ongoing obligations of some kind between the issuer and the token holder, and in those cases, courts may be more likely to find there was an expectation of profit from the promoter’s efforts.

    Business Law Prof Blog: So, Ripple

    [lawprofessors.typepad.com]

    Elizabeth Lopatto
    Elizabeth Lopatto
    What if the next big social media app... is nothing?

    Enjoyed this Bloomberg story about the possibility that we are all old and tired, sick of seeing each other’s bad posts, and hoping to touch grass:

    In 2022, according to GWI’s latest report, daily time spent [online] fell by 13 minutes. It’s now six hours and 43 minutes a day, slightly lower than it was in 2017. The drop was the biggest since the company started tracking the topic and suggested, as GWI’s report put it, “that we’ve reached a kind of internet saturation point.”

    I guess I’m not the only one who’s been seasoning their cast iron!

    Elizabeth Lopatto
    Elizabeth Lopatto
    Bank fraud algorithms are leading institutions to close customers’ accounts — and customers have no idea what’s going on.

    After the algorithm rings the alarm, a human team makes a choice. But the incentives for the financial institutions are skewed, according to The New York Times: it’s easier to close a customer’s account, even if they’ve done nothing wrong, than to risk penalties for bad transactions. That means a lot of innocent people are getting left in the lurch, with no access to their money.

    Elizabeth Lopatto
    Elizabeth Lopatto
    Buy now, pay later for... groceries?

    Just one thing to keep in mind if you’re using Affirm or Klarna: their structure may not be to your benefit.

    By making the service “pay in four,” allowing users to pay in four installments, the companies don’t have to abide by the Fair Lending Act, which mandates certain consumer protections. Most BNPL companies also only do negative reporting, Di Maggio said, meaning the only credit information they make public is when a customer misses a payment.

    Elizabeth Lopatto
    Elizabeth Lopatto
    This is just a good joke about two things that are very relevant to me.
    A Tumbler post containing PetFinder screenshot of a beautiful little gray tabby kitten called interest rates was reblogged by a tumblr called “Jerome Powell.” The user writes, “Nothing would bring me more pleasure than to raise Interest Rates.”
    Elizabeth Lopatto
    Elizabeth Lopatto
    That otter stole that surfboard fair and square.

    “When the surfer got the board back, there were bite marks on it.” Listen man, generally I feel that wildlife that has lost its fear of humans is a bad deal for everyone. However, in this specific case, I do want to see if the otter can actually hang ten.

    Elizabeth Lopatto
    Elizabeth Lopatto
    “If writing is thinking, ordering one’s ideas, generating text with A.I. may be a way to avoid thinking.”

    The New Yorker’s Kyle Chayka tried out an AI model fine-tuned and trained on his work:

    No matter how many times I asked it to describe how I felt about being replaced, Robot Kyle always came to the conclusion that I would ultimately be happier as a result of my A.I. self. The program’s output reminded me of the fragility of language and original thought. As writers, we are all prone to falling into lazy patterns; avoiding them requires active effort. Robot Kyle is no different.

    One hilarious possible outcome is that AI glurge makes real writers more expensive — but only, of course, if you care about quality. One more unsettling outcome is that you can train an AI to produce glurge in the style of a writer, ruining their reputation by mindlessly vomiting forth their prose tics.

    My A.I. Writing Robot

    [The New Yorker]

    Elizabeth Lopatto
    Elizabeth Lopatto
    In Hollywood, the nerds are striking — and it looks like the hotties are about to join them.

    The actors may join the writers on strike, and Hollywood’s publicists are freaking out.

    “It would be a miracle at this point” to reach a deal by this Wednesday, one producer told Variety.

    Elizabeth Lopatto
    Elizabeth Lopatto
    “A rising tide of anti-human disgust lifts the gaudy yachts higher, and brings the smell of rot.”

    I enjoyed this story about Warner Bros. CEO David Zaslav, who is the personification of the boring business bro who doesn’t care if a movie is good as long as it is profitable and predictable. But the phenomenon David Roth identifies here isn’t limited to Zaslav and could apply equally the AI cheerleaders, serving us glurge because these dead-eyed losers have no idea what is worthwhile about other people.