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  • Hacker News
  • Alternative to archive.ph

    No Javascript required, no CAPTCHA, text-only, HTTPS optional

       tnftp -4o"|grep -o '<p.*</p>' \
   |tr -d '\134' \
   |sed '1s/^/<meta charset=utf-8>/'" \
   https://assets.msn.com/content/view/v2/Detail/en-in/AA296NRC > 1.htm

   firefox ./1.htm
   #links 1.htm
   #elinks 1.htm

   links -dump \
   https://assets.msn.com/content/view/v2/Detail/en-in/AA296NRC \
   |sed '1,/body\"/d;/readTime/,$d' \
   |less -r
    by 1vuio0pswjnm7
  • Earlier on HN:

    Martin Shkreli breaks down the collapse of Situational Awareness - https://news.ycombinator.com/item?id=49119380

    Edit: added context

    by alasr
  • I like how Matt Levine formulated it.

    His thesis was correct. The problem is, his thesis was measured in years if not decades when his funding was measured in days and hours.

    by ymolodtsov
  • >Even including July's losses, the fund remains up about 80% on the year

    Spectacular blowup and a lesson on leverage, but let's not miss this line.

    by asats
  • > Aschenbrenner party blamed short sellers who targeted the firm’s positions for exacerbating the fund’s losses, the letter said. The letter compared Situational’s experience to a bank run.

    4 years ago, it was SBF blaming Changpeng Zhao for shorting FTT and triggering a run on FTX.

    Now another EA has followed the path of making a lot of money relatively quickly and losing it just as fast, using the exact same arguments for why it happened.

    by scrlk
  • An inexperienced portfolio manager that’s never seen a down tech market in his life has created a massively leveraged position on frothy assets in a bubble and the bubble is looking ill. What could possibly go wrong.

    Many of these AI plays are massively entangled and leveraged. It all looks good until it doesn’t and when there’s a hiccup things unravel quickly and exponentially. I fully expect in the next 12 months we’re going to see some rather spectacular investment implosions with folks losing their shirts. Get your popcorn ready.

    by cmiles8
  • This is everywhere. For reference, former FTXer and OpenAIer raised $225m into a hedge fund structure, went long and short, and reportedly peaked at $40bn of value; leverage bit hard this week and they sold their entire-ish portfolio to Citadel at $10bn. (Which, I imagine was very likely aiming at this outcome in their trading in the last few weeks).

    Not reported anywhere -- was additional money raised in to the fund, and what is the LP basis? The story might be: wunderkind 40x+ed his first hedge fund and sold it to Citadel, or it might be: wunderkind raised $20bn and turned it into $10bn fast trading against Citadel.

    Inquiring minds want to know!

    by vessenes
  • https://archive.ph/PCjtG
    by scrlk

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