Are we living in a simulation? 🤖
Are we living in a simulation? 🤖
2.51 | Recessions, Reality, TGIF | "Make a Friday a day to celebrate work well done that you can be proud of knowing that you didn't just put in time to the next pay cheque." - Byron Pulsifer
News and Numbers
Markets this Week:
S&P 500 is up 1%
NASDAQ 100 is up 2%
Bitcoin-USD is up 3%
Ethereum-USD is up 2%
Headlines from this Week:
Netflix (NFLX) has reportedly lost more than 1 million users in Spain as it rolled out its password-sharing crackdown in the country. Monitoring the next few quarters to see how many decide to re-subscribe will be vital to Netflix's strategy in this space.
Meme stock Bed Bath & Beyond (BBBY) filed for Chapter 11 bankruptcy protection on Sunday after a years-long decline in sales.
Finance
By Vlad Estoup, B.Comm. (Finance), working in Ethereum cybersecurity
The Never Recession
For many years, financial experts and analysts have been predicting an imminent recession. However, despite these predictions, the global economy has continued to expand, with no signs of a significant downturn. This has led some to wonder if a recession will ever come.
The reasons for the prolonged economic growth are manifold. One of the most important factors is the current low interest rates, which have encouraged businesses to invest and consumers to spend. You may think they are high, but historically this is still not the case. Rates are still relatively low. Additionally, technological advancements have led to increased productivity and efficiency, further bolstering economic growth.
Furthermore, governments around the world have implemented various policies and programs to stimulate economic growth. For example, fiscal stimulus packages, such as tax cuts and infrastructure spending, have helped to create jobs and boost consumer spending.
However, some economists warn that this sustained growth may not be sustainable in the long run. Many argue that the current economic expansion has been fueled by an increasing amount of debt, both at the individual and government level. Additionally, trade tensions and geopolitical risks could pose a threat to the global economy.
Despite these concerns, there is no clear indication that a recession is imminent. The global economy continues to expand, albeit at a slower pace than in previous years. As such, investors and financial experts alike are left wondering if a recession will ever come.
In conclusion, while we have been waiting for a recession for some time now, there is no clear indication that one is on the horizon. The current economic expansion has been fueled by a variety of factors, including low interest rates, technological advancements, and government policies. However, concerns remain about the sustainability of this growth, and it is essential to remain vigilant and prepared for any potential economic downturns in the future.
This is not financial advice and you should always do your own research before investing in any securities or cryptocurrencies.
Sci-Tech
By Keyann Al-Kheder, Software Engineer in Web3
The Urgent Risks of AI: Navigating a Changing Reality
In the science fiction movie Blade Runner (depicted in the image above), there’s an iconic scene where a human administers a test to determine whether an individual is human or an advanced artificial intelligence known as a ‘replicant’. The test is called the Voight-Kampff test, and while it served as a thought-provoking segue into the real-world risks associated with artificial intelligence (AI), that risk has now been emulsified into reality.
Recent incidents involving AI-powered voice cloning scam have highlighted the escalating risks associated with AI technology. As AI becomes increasingly sophisticated, it’s able to replicate, produce, and simulate real experiences, thereby blurring the boundaries between reality and simulation, necessitating immediate action.
The Blurring Lines of Voice Cloning:
As reported by business insider (source), A distressing incident experienced by Jennifer DeStefano underscores the risks of AI-driven voice cloning. A scammer effectively replicated her daughter's voice, instilling fear and confusion, in order to exploit her for ransom money . DeStefano confirmed the voice to be an exact match, leaving no doubt about its authenticity. Such incidents challenge our ability to differentiate between genuine communication and AI-generated simulations.
Safeguarding Against AI Risks:
In this era of advancing AI, proactive measures are essential to protect ourselves. One effective approach involves establishing a secret phrase or code known only to trusted individuals. By utilizing this unique identifier during phone calls or encounters, one can verify the authenticity of the communication. For the time being, AI can only produce what it’s been trained on, and lacks the ability to replicate personal knowledge, making this method a valuable defense against scams.
Additionally, limiting the disclosure of personal information online and social media platforms can help mitigate risks. Scammers and hackers can exploit easily accessible data to train an AI to produce convincing simulations of your voice, face, or other convincing narratives of your behaviour and identity. By exercising caution regarding shared information and implementing strict privacy settings, individuals can reduce the likelihood of falling victim to AI-based scams.
The Importance of Awareness and Regulation:
As incidents like Jennifer DeStefano's become more prevalent, it is crucial to raise awareness regarding the risks associated with AI technology. Educational initiatives, media campaigns, and public discussions play a significant role in helping individuals recognize warning signs and protect themselves against evolving threats.
Moreover, policymakers and regulatory bodies must actively address the risks posed by AI. The establishment of guidelines and standards for responsible AI development and usage is crucial to mitigating potential misuse. Collaboration among technology companies, law enforcement agencies, and academia is essential in identifying vulnerabilities and implementing effective countermeasures.
Final thoughts:
I think what’s crazy is that up until now, we never had to doubt whether the voice you heard of someone you recognized was real. If I heard my friends voice, I’d never doubt it’s real and not just some simulation, or robot. I’d believe that I’m talking to a conscious person. But now, what we thought of as human conscious experiences are reproducible, and reducible to mathematical bits of data. If we can experience these simulations of mathematical bits of data indistinguishably from what we believed to be real experiences, then what else can we doubt? And where does that end?
Paradigm Shift
By Roman Kuittinen-Dhaoui, BBA (Hons.), CPHR Candidate
Forget TGIF
You spend a lot of time at work. Let’s say you work 40 hours per week and sleep 7 hours per day, that’s equivalent to 24% and 29% of your week, respectively. You’ll lose another chunk of the remaining 47% of the week to commuting, eating, hygiene, etc.
When I did this math years ago, I realized that my career had to be more than just a means to pay my bills; I cannot be miserable somewhere that I must be for a quarter of my week. That would be a serious flaw in how I design and live my life.
Often at work, I would hear “Thank God It’s Friday (TGIF)” or “Happy Friday” and think to myself “Do these people hate their job? Why are they so excited it’s Friday?”
I sympathize that nobody feels like working every day, especially on a Friday when the sun in out.
I appreciate that people have weekend plans that they are looking forward to. I understand that some people are stressed and tired; they want the break to relax and rest.
However, how you feel on a Sunday night about work the next day says a lot about where and/or what you do for a living. Personally, I am excited about the HR projects that I work on but dislike some administrative tasks that I have to do. I don’t mind spending extra hours at the office because I am passionate about the work.
TLDR: enjoy your career; not just life outside of work
(Head)Space
Work, Relax, Sprint, Rest, Repeat
On September 25th 1926, Henry Ford announced the 8-hour, 5-day work week. This format works well for some steady jobs, however, I think it’s outdated for many jobs with fluctuating demand.
Many blue-collar and white-collar jobs have busier and slower times of the year. For reference, blue-collar workers are those who do manual labor and are paid on an hourly or piecework basis, and white-collar workers are known as suit-and-tie workers who work in service industries and are paid salaries.
For instance, a farmer works long hours when it’s time to harvest their crop whereas they are resting during the winter, and some firms let their accountants bank their overtime hours during tax season to use the time for vacation later in the year when it’s not as busy.
For a white-collar job performing knowledge work, one cannot simply turn on like a light bulb and be productive for the same 9 AM to 5 PM every day. Some folks are morning people, so their productivity goes down in the afternoon. Some employees are night owls; they’ll do their best work at night. Unfortunately, labour laws cap working day at a set amount of hours (e.g., 8 hours per day in Canada) where any time worked in excess of the limit is paid at overtime rates.
Personally, I would rather work a lot, then relax, then sprint again, then recharge, and so on. I wish I could bank the overtime that I work and use it as time off. This format would allow me to have greater work-life balance, although my time would be either heavily skewed towards work in some periods, and then heavily skewed towards life at other times.
In my opinion, the current 5-day work week skews too much towards work, it’s no wonder countries and companies are testing out 4-day work weeks and its effects on worker productivity and life satisfaction.
TLDR: I’d rather work long hours to get ahead, then chill, then grind again, then relax, and so forth.
Written by: Vlad Estoup, Keyann Al-Kheder, and Roman Kuittinen-Dhaoui