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Royal Palace of Turin

Humanity

VOGUE

Humanity” will be on show until 21 January 2024. Produced by Palazzo Reale and Skira Editore, it is curated by Nicolas Ballario and Federica Crivellaro. It showcases 65 large-format photographs, a visual testimony of the evolution of Nelson as a ...

PhotoVogue Festival 2023 Side Events: “JIMMY NELSON. Humanity” at Palazzo Reale

Vogue

Spannmålsbörsen Skira, som snart lanserar i hela Sverige, skördar fyra nya delägare. ”Det finns i dag ingen pristransparens i branschen”, säger vd:n Niklas Ericson. Den svenska digitala spannmålsbörsen Skira fortsätter att växa. Efter en ny ...

Spannmålsbörs lockar nya delägare: ”Finns ingen pristransparens”

Get the most recent info and news about Skira on HackerNoon, where 10k+ technologists publish stories for 4M+ monthly readers.

Skira

We saw the emergence of a new Generative AI behemoth, OpenAI, with the introduction of ChatGPT on November 2022. ChatGPT serves as a chat-oriented interface for the underlying model it employs. The first version of the chatbot relied on a large language model called GPT-3.5, which sure blew all our minds. But on Tuesday 14th of March 2023, 4 months after the first launch of ChatGPT, OpenAI is pepping things up with the release of GPT-4, a more capable model than previous versions. Initially designed for engaging with GPT-3.5, the chatbot now functions as a medium to interact with GPT-4. https://twitter.com/sama/status/1635687853324902401?embedable=true What can GPT-4 do? The same thing that GPT-3.5 can do, but more. The company said in a blog post, “GPT-4 is more reliable, creative, and able to handle much more nuanced instructions than GPT-3.5.” Since 2018, OpenAI has been disseminating GPT language models, but of all Open AI's huge language models, GPT-4 is not just the newest, but also the most potent. OpenAI reported that it used Microsoft Azure to train the model. Here are a couple of ways GPT-4 compares to GPT- 3.5 GPT-4 accepts visual inputs, and GPT-3.5 doesn’t Given that GPT-4 is "multimodal," as specified by OpenAI, and can comprehend many "modalities" of information, it can be prompted to produce content by both visual and textual cues while GPT-3.5 was essentially able to read and write text. Nevertheless, the company is not deploying its image-description capability immediately, and the GPT-4 version remains available only to subscribers of OpenAI's ChatGPT Plus users and developers, and only supports text. Compared to GPT-3.5, GPT-4 has a larger buffer Simply put, GPT-4 has a longer memory than the previous model. With GPT-3.5 and the previous iteration of ChatGPT, the maximum was 4,096 "tokens," or roughly 8,000 words, while the maximum token count for GPT-4 is 32,768, or around 64,000 words. That’s 8 times more memory capacity. GPT-4 has a variety of "personas." or steerability, unlike GPT-3.5 Steerability refers to the ability to control or influence the output of a language model in a specific direction or style. In other words, it allows users to guide the language model to produce text that fits a particular tone, style, or topic. While GPT-3 does not have built-in steerability features, GPT-4 does.  With GPT-4, developers and ChatGPT users can specify their AI's style and task by giving such directions in the "system" message, as opposed to the traditional ChatGPT personality with a defined verbosity, tone, and style. The company stated that although this feature is currently only accessible to developers, it will soon be made available to ChatGPT users as well. GPT-4 has a broader language range. This means that GPT-4 can understand and generate text in a wider variety of languages than its predecessor GPT-3.5. This is a significant advancement in the field of natural language processing.  According to OpenAI, GPT-4 beats the English-language performance of GPT-3.5 and other LLMs in 24 out of the 26 languages they tested. As a result, GPT-4 can respond accurately to a large number of multiple-choice questions in 26 different languages. GPT-4 has lesser ‘hallucinations’ on facts Even while it does not fully stop hallucinations or making up facts, GPT-4 considerably lessens them in comparison to earlier variants. The company said the updated language model continues to "hallucinate" facts and exhibit flawed logic, though not as bad as GPT-3.5. Hallucinations in the context of language model software refer to the generation of text that appears to be coherent and meaningful but is not actually supported by the input data. This can occur when a language model generates text that is not grounded in the context or is not consistent with the semantic meaning of the input text. In other words, a language model may sometimes generate text that is not accurate or plausible based on the information it has been trained on, resulting in what is commonly referred to as "hallucinations." The model also incorporates social biases and adversarial prompts in addition to the above limitations. OpenAI’s blog post stated, “GPT-4 scores 40% higher than the latest GPT-3.5 on  internal adversarial factuality evaluations.” According to LLMs have learned to mimic human prejudices of race, gender, religion, and class as a result of their training on internet text and visuals. Evidently, AI systems have the potential to perpetuate and amplify existing biases in society, rather than helping to mitigate them. The Washington Post, GPT-4 also has additional restrictions similar to those found in GPT-3.5, one of which is that it still lacks knowledge of events that occurred after September 2021. The ability of others to teach it new things is also limited by the fact that it does not learn from its experiences. Regardless, GPT-4 is still smarter; as it is more accurate, more precise, and has better expertise. The language model has also shown that it is capable of acing exams. According to OpenAI, it scored at the 90th percentile on a mock bar exam, the 93rd percentile on an SAT reading test, and the 89th percentile on an SAT math test. Where is GPT4 currently being used? GPT-4 has the potential to be used in a wide range of applications that require natural language understanding and generation. The language-learning software Duolingo, the payment provider Stripe, the online learning platform Khan Academy, and the financial services company Morgan Stanley were among the companies mentioned in OpenAI's statement that are currently using the new model. Microsoft also reported that its chatbot, BingAI has been using GPT-4 all along, even before the model's public release. “We are happy to confirm that the new Bing is running on GPT-4, which we’ve customized for search, If you’ve used the new Bing preview at any time in the last five weeks, you’ve already experienced an early version of this powerful model.” Yusuf Mehdi, corporate vice president, and chief marketing officer for consumers at Microsoft, wrote in a statement. https://www.youtube.com/watch?v=hdhZwyf24mE&embedable=true GPT-4 "excels in tasks that require advanced reasoning, complicated instruction understanding, and more creativity," according to OpenAI. Users have reported using GPT-4 in a variety of inventive ways in the brief time since its release: https://twitter.com/skirano/status/1635736107949195278?s=20&embedable=true https://twitter.com/YosarianTwo/status/1635780666632687617?s=20&embedable=true The possibilities for this new tool are believed to be endless. https://twitter.com/mckaywrigley/status/1635740909383061504?s=20&embedable=true How can GPT-4 be accessed? Fundamentally, to access ChatGPT, you must first register on the OpenAI , but doing so gives you the option of using only GPT-3.5. You will require a paid subscription to ChatGPT Plus, the more expensive variation of ChatGPT, in order to use GPT-4. website Since Microsoft has confirmed that the new Bing runs on the new model of GPT, it is obvious then that Millions of Bing users can already access it through the chatbot. https://twitter.com/JordiRib1/status/1635694953463705600?embedable=true The new model is also accessible via API, the company stated that they are prioritizing API access for developers that give outstanding model assessments to OpenAI Evals during the slow rollout of GPT-4 in order to learn how they may enhance the model for everyone.

GPT-4 Launches as the Next Generation of Artificial Intelligence Large Language Models

GPT-4 কৃত্রিম বুদ্ধিমত্তা বড় ভাষার মডেলের পরবর্তী প্রজন্ম হিসাবে চালু হয়েছে

GPT-4 wird als nächste Generation großer Sprachmodelle mit künstlicher Intelligenz eingeführt

GPT-4 se lanza como la próxima generación de modelos de lenguaje grande de inteligencia artificial

Lancement de GPT-4 en tant que nouvelle génération de grands modèles de langage d'intelligence artificielle

GPT-4 ने आर्टिफिशियल इंटेलिजेंस के बड़े भाषा मॉडल की अगली पीढ़ी के रूप में लॉन्च किया

次世代の人工知能大言語モデルとして GPT-4 を発表

GPT-4, 차세대 인공 지능 대형 언어 모델 출시

GPT-4 é lançado como a próxima geração de grandes modelos de linguagem de inteligência artificial

GPT-4, Yeni Nesil Yapay Zeka Büyük Dil Modelleri Olarak Piyasaya Sürüldü

GPT-4 ra mắt dưới dạng Mô hình ngôn ngữ lớn trí tuệ nhân tạo thế hệ tiếp theo

GPT-4 作为下一代人工智能大型语言模型推出

Scientific American, Volume XXIV., No. 12, March 18, 1871 by Various, is part of the HackerNoon Books Series. You can jump to any chapter in this book . Improved Compound Spiral Car Spring for Railway Carriages. here Improved Compound Spiral Car Spring for Railway Carriages. Our engravings illustrate an improved compound car-spring, which appears to possess all the requisites of a first-class spring, combining in its construction extreme simplicity with great strength, and a feature whereby the power of the spring increases with increase of the load, and , so that its flexibility remains nearly constant for all loads. vice versâ Fig. 1 is a perspective view of this spring, with a portion of the side of the case broken out to show the interior arrangement of the spiral springs. Fig. 2 is a section of the compressing plate. Fig. 3 is a plan view, showing the arrangement of the tubes which enclose the springs. The case is cast in two pieces. Its vertical wall is cast in a single piece, and has at the top a flange or bead extending inwardly, against which the compressing plate abuts when the spring is not compressed, as shown in Fig. 2. A bottom plate completes the case. The spiral components of the spring are inclosed in tubes, as shown in Figs. 1 and 3. It is not deemed essential that these tubes should be seamless, or that their edges, brought together in bending, should be soldered, brazed, or welded. They act merely as guides to compel the component springs to expand or contract in vertical lines, and need only be strong enough for that purpose. The compressing plate is formed with concentric steps or ledges, as shown in Fig. 2, so that with light loads, only a portion of the component spirals act. With a heavier load a new series of spirals is brought into action, and so on, till the spring is loaded to its full capacity. This feature is novel, and as important as novel, as it gives the spring a far more easy and flexible carriage, with light loads, than would be the case if all the spirals were permitted to act. In putting the spring together, the vertical part of the case is inverted. The compressing plate is then placed within the case, resting upon the inner flange of the case above described. The tubes with their inclosed springs are then arranged in position, as shown in the plan view, Fig. 3. The bottom plate of the case is then placed in position, and held to its place by lugs and rivets, as shown in Fig. 1; the spring is then ready for use. The employment of tubes in the manner described, enables springs of the greatest practical length to be used, without the sectional or division plates met with in other spiral car springs. A greater and easier movement is therefore obtained. These springs can, it is claimed, compete in price with any spring in market, and are guaranteed by the manufacturers. Patented through the Scientific American Patent Agency, December 27, 1870, by Albert Potts, whom address for further information, No. 490 North Third street, Philadelphia, Pa. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various (2006). Scientific American, Volume XXIV., No. 12, March 18, 1871. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/19180/pg19180-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

Improved Compound Spiral Car Spring for Railway Carriages

Sharing a new article by a seasoned software engineer and tech enthusiast Alex Babin (with his permission). As of 2023, microservices are all-pervasive in the IT world. According to , 85% of respondents from large companies (5,000 or more employees) claim they are currently using microservices architecture for their IT projects. Statista With microservices seemingly deemed to be a new norm in software development, why would anyone choose to get back to monolith? Well, there’s some substantial reasoning for this transition. As Eberhard Wolff argues in his paper , in the microservices architecture, “excessive effort is spent on matters that do not really help the project” — mostly due to its complexity and massive use of diverse tools, languages and frameworks. Why Microservices Fail: An Experience Report Today, I’d like to dive deeper into what makes monolith a better choice in certain scenarios. Let’s start! Common issues with microservices While microservices architecture offers numerous benefits, it also comes with some potential downsides that should be considered. Here are a few: Increased complexity Microservices require managing a larger number of services, each with its own deployment, monitoring, and management requirements. This introduces a higher level of complexity compared to monolithic architecture. With multiple services communicating with each other, there is a need for robust network communication and coordination mechanisms. Distributed system challenges Microservices architecture introduces the complexities of distributed systems, such as handling network latency, ensuring data consistency across services, and managing failures and errors. It requires implementing proper error handling, resilience mechanisms, and fallback strategies to maintain the overall system reliability and performance. Testing and debugging issues With microservices, testing and debugging become more complex due to the distributed nature of the architecture. Testing individual services in isolation and ensuring proper integration testing can be challenging. Debugging issues that span across multiple services requires additional effort and specialized tools to trace and diagnose problems. Development and deployment dependencies Microservices often require services to be developed and deployed independently. This can lead to dependencies between teams working on different services, potentially slowing down the development and deployment processes. Ensuring proper coordination and communication between teams becomes crucial to avoid compatibility issues and ensure smooth integration. A sample microservices architecture on Azure Kubernetes Service (AKS). Source: Azure documentation When does monolith offer a better fit? Let’s now consider some scenarios where monolithic architecture typically works better than microservices. Firstly, a monolith can be a better choice for , since it is easier to develop and deploy as the entire application is built as a single unit. This simplicity can result in faster development cycles and reduced complexity in deployment and management. projects with fast turnaround times Additionally, monolithic architecture can be more suitable for . It can also provide better performance as all components of the application are tightly integrated and can communicate with each other more efficiently. smaller applications or projects with limited scalability requirements Another typical use case for a monolithic architecture is when . In such scenarios, where the application’s functionality and features are not expected to change significantly over time, a monolith can offer a straightforward and predictable development process. the project has well-defined and stable requirements For example, Amazon recently to monolithic architecture for video monitoring stating that it “produced superior performance over a microservices and serverless-led approach.” Specifically, the tech team that moving their service to a monolith enabled them to reduce infrastructure costs by over 90% as well as increase the scaling capabilities. shifted back reported The updated architecture of Amazon’s audio/video monitoring service. Source: Amazon Prime Video blog So which one is better? The short answer is: the one that better works for your purposes! More specifically, while microservices can be an ideal choice for highly scalable and complex systems that require flexibility and independent service management, there’s no reason to downgrade monolith simply because it’s not so widely used anymore. In many scenarios like small-scale applications with limited resources or projects with well-defined and stable requirements, a monolithic architecture can actually be the optimal solution. It provides simplicity, easier development and debugging, and avoids the complexities of managing a distributed system. In case you’re not sure whether you’ll need to switch to microservices as your system is scaling, a good solution is to use a language such as that offers a powerful combination of features. It provides a strong module system with built-in tools for analyzing dependencies and simplifying function calls through its macro system. Additionally, Elixir’s built-in actor system enables concurrent and fault-tolerant execution of code, allowing for easy scalability and distribution across multiple machines. Elixir In general, starting with a monolithic architecture is often the optimal approach. However, if the need arises to extract certain components into separate services, you can do so with minimal code changes if you use Elixir. Furthermore, if the transition to microservices becomes necessary, you will already have the required modularity and DevOps setup in place.

New Spiral Cycle: Why Microservices Are Overrated

The Story-book of Science by Jean-Henri Fabre, is part of the HackerNoon Books Series. You can jump to any chapter in this book here . THE SPIRAL SNAIL CHAPTER LXXI. THE SPIRAL SNAIL “WHEN the snail crawls, it bears aloft, as you know, four horns.” “Horns that come out and go in at will,” added Jules. “Horns that the animal turns every way,” said Emile, “when you put the shell on the live coals. Then the snail sings be-be-be-eou-eou.” “Stop that cruel play, my child. The snail does not sing; it is complaining, in its own way, of the fiery tortures. Its slime, coagulated by the heat, first swells and then shrinks, and the air that escapes by little puffs produces that dying wail. “In one of La Fontaine’s fables, where there are so many good things about animals, he tells us that the lion, wounded by a horned animal, “Straight banished from his realm, ’t is said, All sorts of beasts with horns— Rams, bulls, goats, stags, and unicorns. Such brutes all promptly fled. A hare, the shadow of his ears perceiving, Could hardly help believing That some vile spy for horns would take them, And food for accusation make them. Adieu, said he, my neighbor cricket; I take my foreign ticket. My ears, should I stay here, Will turn to horns, I fear; And were they shorter than a bird’s, I fear the effect of words. These horns! the cricket answered; why, God made them ears; who can deny? Yes, said the coward, still they’ll make them horns, And horns, perhaps, of unicorns! In vain shall I protest. .  The translation is that of Elizur Wright, Jr., published by James Miller, New York, 1879. 4 “This hare evidently exaggerated things. Its ears have remained ears, to all observers. We do not know whether the snail exiled himself in these circumstances; man is almost unanimous in regarding as horns what the snail bears on its forehead. ‘You call those horns!’ the cricket would have exclaimed, being better advised than man; ‘you must take me for a fool.’” “Then they are not horns?” asked Jules. “No, my dear. They are at once hands, eyes, nose, and a cane for the blind. They are called tentacles. There are two pairs of unequal length. The upper pair is the longer and more remarkable. “Right at the end of each long tentacle you see a little black point. It is an eye as complete as that of the horse and ox, in spite of its minute dimensions. What is necessary for making an eye, you are far from suspecting. It is so complicated I will not try to tell you. And yet it is all to be found in that little black point that is scarcely visible. That is not all: beside the eye is a nose, that is to say an organ especially sensitive to odors. The snail sees and smells with the tips of its long tentacles.” “I have noticed that if you bring anything near the snail’s long horns, the animal draws them in.” Elephant “This combination of nose and eye can retreat, advance, go to meet an object, and catch odors from all sides. To find a similar nose, you must go from a snail to an elephant, whose trunk is an exceptionally long nose. But how much superior the snail’s is to the elephant’s! Sensitive to odors and light, eye and nose at the same time, it can retire within itself like the finger of a glove, disappear by reëntering the animal’s body, or come out from under the skin and lengthen itself like a telescope.” “I have often seen how the snail pulls his horns in,” observed Emile. “They fold back inward and seem to bury themselves under the skin. When anything annoys it, the animal puts its nose and eyes into its pocket.” “Precisely. To protect ourselves from too strong a light or an unpleasant odor, we shut our pupils and stop up our nose. The snail, if the light troubles or some smell displeases it, sheathes eyes and nose in their covering; it puts them into its pocket, as Emile says.” “It is an ingenious way,” Claire remarked. “You said, too,” interposed Jules, “that the horns served it as a blindman’s cane.” “The animal is blind when it has drawn in its upper tentacles, partly or wholly; it then has only the two lower ones, which explore objects by the touch better than does the cane of a blind man, for they are very sensitive. The two upper tentacles, besides their functions of eye and nose, also play the part of blindman’s cane, or, better still, that of a finger that touches and recognizes objects. You see, little Emile, one does not know everything about a snail when one knows its wail on the fire.” “I see. Who of us would have suspected that those horns are eyes, nose, blindman’s cane, fingers, all at the same time?” About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Jean-Henri Fabre (2018). The Story-book of Science. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/56795/pg56795-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at www.gutenberg.org , located at https://www.gutenberg.org/policy/license.html.

THE SPIRAL SNAIL

SPIRAL AND PLANETARY NEBULÆ

On November 22nd 2022, AAVE v2, a lending platform on Ethereum, incurred bad debt resulting from a major liquidation event involving a single user who had borrowed close to $40M worth of CRV tokens. In light of this occurrence, , , and released a debunking the speculations surrounding the event. They introduced the concept of toxic liquidations, their prominence across many DeFi protocols, and how they can be mitigated. Daniele Pinna Jakub Warmuz Amit Chaudhary research paper What Really Happened During The Aave Exploit? The AAVE exploit was caused by , who is known for . Last November, Eisenberg attempted to exploit AAVE in a similar fashion. Using tranches made up of tens of millions of USDC as collateral, Eisenberg borrowed millions of Curve’s native token, CRV, on AAVE before sending it to OKX – probably to sell. Avraham Eisenberg exploiting Solana-based Mango Markets for more than $100 million Using USDC as collateral to borrow tokens and then sell them is a common method used by sophisticated players to make short positions in DeFi. While the attempted exploit caused volatility on CRV, the attack did not work. AAVE withstood the exploit, and the hacker was left with nearly $10m in losses. But, the protocol was left with almost $2m in bad debt –  debt that cannot be recovered. While Eisenberg’s true intentions are yet unknown, he successfully brought a lot of attention to bad debt and toxic liquidation spirals in DeFi. Toxic Liquidation Spirals Liquidation refers to a loss management process by which a smart contract sells a user’s crypto assets to cover the debt. In most cases, the protocol will allow someone else to repay the debt, at a discount, in exchange for the collateralized asset. These individuals are known as liquidators and are given a bonus, which is higher for volatile currencies, as an incentive. ratio refers to the ratio of the loan’s value to the value of the collateral. It is used by lenders to measure the risk involved when approving a loan. Once a user’s LTV ratio exceeds a threshold set by the protocol, liquidators are called in to intervene. This model is often effective and helps to create a balanced portfolio for the borrower while protecting the lender from bad debt. Loan-to-Value (LTV) The AAVE exploits were mostly blamed on speculative price action or irresponsible portfolio positioning. However, Daniele Pinna,  head of research and investment at 0VIX, is debunking that and shedding light onto a fundamental flaw in many DeFi protocols. is a DeFi liquidity market protocol built on Polygon, which offers next-level features like pre-mined rewards, toxicity numbers, and 24-hour liquidation probability. Learn more about 0VIX and its unique risk management features . 0VIX here In the research paper published by the team, they introduced the concept of a “toxic liquidations spiral”, where, under the right circumstances, an over-collateralized loan can become under-collateralized entirely due to the protocol’s mechanics, and guaranteeing the creation of bad debt in the process. Liquidations are considered toxic when the liquidation incentives worsen the liquidated user’s LTV and the final LTV is greater than the initial. As the LTV increases, the collateral becomes less likely to cover the cost of the loan. A toxic liquidation spiral depends mainly on the incentive given to liquidators for executing liquidations in relation to the loan-to-value of the user being liquidated. For fixed liquidation incentives such as is common on many lending markets, a threshold exists beyond which the user’s loan-to-value will be guaranteed to increase at each successive liquidation. This is represented mathematically as: Using AAVE’s exploit as a case study, it becomes clear how AAVE’s 4.5% incentive on each liquidation drove Avi’s LTV higher after it surpassed the 95.6% mark. While this is undoubtedly a high loan-to-value for a user to hold on a lending market, it still represented an over-collateralized portfolio position. Once the LTV became greater than 0.9569, even if asset prices were to remain static, the user’s portfolio was guaranteed to become under-collateralized entirely as a result of the liquidation incentives enforced by the protocol, thus incurring bad debt. This is the toxic liquidation spiral that resulted in AAVE’s $1.75 million debt and is a flaw prevalent in many DeFi platforms. The team suggested two options DeFi lending platforms have to avoid bad debt incurred from toxic liquidation spirals. Fixing The Toxic Liquidation Spiral There are two ways AAVE and other DeFi lending protocols can prevent bad debt accrual. The first method is quite simple. Once the LTV exceeds LTVuc (under-collateralized), the protocol should halt the trade. 0VIX’s research team simulated the results that would have occurred if this method had been adopted and found that the portfolio would have momentarily become under-collateralized (around 750k) before immediately returning to a healthy state on its own once the CRV/USDC ultimately corrected downwards. Of course, there are many statistical possibilities depending on the price action of the token and other variables. Using the market risk assessment methodology, most simulations resulted in zero bad debt accrual for AAVE just by halting liquidations. The second method suggests a change in the liquidation logic by introducing dynamic rather than typically fixed parameters for liquidation incentives. It is important to remember that toxic liquidations occur when incentives worsen rather than improve the user’s LTV ratio. The protocol can avoid toxic liquidation spirals if these incentives are constantly adjusted to fit the formula below. In addition, the closing factor, which limits the number of collateralized tokens that can be liquidated at once, can also be made variable. The aim is to progressively liquidate larger portions of a user’s portfolio as it comes closer to becoming under-collateralized. By comparing the results of toxic liquidation spirals and mitigation policies, we find that there is a trade-off. There are higher chances of generating bad debt (∼ 85%) but more certainty on the size of that debt (tail mean = $820k) when toxic liquidation spirals occur. In contrast, the mitigation policies discussed offer considerably lower chances of generating bad debt (∼ 19%) while exhibiting more risk on the worst-case outcomes (tail mean= $1.4M), assuming no other open market interventions occur. The research by 0VIX has identified a significant problem and possible solutions to a shared flaw in DeFi lending platforms. Rather than dismissing AAVE’s exploit as a result of irresponsibility, volatility or speculative price action, protocols can now seek mitigation techniques and prevent bad debt. More information about individual DeFi protocol’s bad debt figures can be found in RiskDAO’s . bad debt dashboard

Fixing Toxic Liquidation Spirals in Defi

Arreglando Espirales de Liquidación Tóxica en Defi

Résoudre les spirales de liquidation toxiques dans Defi

डेफी में विषाक्त परिसमापन सर्पिलों को ठीक करना

Defi で有毒な清算スパイラルを修正する

Corrigindo espirais de liquidação tóxica em Defi

Sửa các vòng xoắn thanh lý độc hại trong Defi

修复 Defi 中的有毒清算螺旋

Just when it looked as though the couldn’t build any further momentum, a positive Thanksgiving for Wall Street has built hopes for a prosperous end to 2023. Will the Christmas countdown bring festive cheer to GenAI investors? generative AI boom The Dow Jones Industrial Average climbed 1.3%, while the S&P 500 index gained 1% and the Nasdaq Composite crept up 0.9% on Black Friday’s shortened trading schedule. These positive market movements have underlined the wave of bullish sentiment arriving on Wall Street towards the end of 2023. Crucially, this recent market action represents the beginning of the Santa Claus Rally throughout the US markets, which has consistently manifested market growth throughout the S&P 500 and beyond. To illustrate this point, the S&P 500 has risen during the period between Thanksgiving and New Year’s Eve , and has an average gain of around 1.7%. 70% of the time since 1950 Given that the S&P 500 has been exceptionally buoyant heading into the Santa Claus Rally, the potential upside of this year’s festive season could see impressive gains as 2023 draws to a close. In terms of where the best price action can be found, it’s no surprise that generative AI appears poised to take center stage yet again. Rallying on the AI Boom Although many Wall Street analysts are skeptical about the underlying trends that drive the , there’s little doubting the power of generative AI and its captivating influence over the US stock market. Santa Claus Rally As more good news flowed into markets such as off the back of cooling inflation data, hopes for the 2023 Santa Claus Rally have been particularly high. Q3 US GDP accelerating to 4.9% "The Santa Claus rally has come early this year for three reasons. One of those is inflation coming in under expectations," , Nuveen CIO in a recent Bloomberg interview. explained Saira Malik "Also, the Fed is signaling the end of the rate-hike cycle – and finally, the economy is showing some signs of cooling, but not enough to take us into a recession," Malik added. Another vital reason behind the positive Santa Claus Rally outlook is generative AI, which once again showed its transformative impact on Wall Street as Nvidia announced more impressive third-quarter earnings. With revenue soaring 206% year-over-year towards a thanks to enhanced data center usage and the sale of its A100 GPU, the chip used to train the OpenAI’s ChatGPT program, it’s clear that GenAI’s bite is as big as its bark. record $18.12 billion Finding Value in AI Although generative AI stocks have built plenty of momentum throughout the year, there appears to still be room for further growth for investors who may be considering adding GenAI stocks to their portfolios. With this in mind, let’s take a look at three generative AI stocks that may be ready for a Santa Claus Rally of their own: 1. Nvidia (NASDAQ: NVDA) Nvidia’s better-than-expected Q3 2023 results have shown that the stock isn’t done yet despite its significant market growth throughout the year thanks to the . generative AI boom The semiconductor firm’s outpaced the Zacks Consensus Estimate by 19.6%. The third-quarter revenues of $18.12 billion reported represent a 34% sequential climb and underline the momentum that the stock has generated in recent months. non-GAAP earnings of $4.02 per share “Nvidia (NVDA) with an upside of 45% is a leading developer of graphics processors. Traditionally, GPUs have been used to enhance the user experience on computing platforms, particularly in PC gaming applications,” notes Maxim Manturov, head of investment research at . Freedom Finance Europe 2. Microsoft (NASDAQ: MSFT) Microsoft has a long and positive history when it comes to embracing a Santa Claus Rally. The company’s Xbox products and ensure that the stock is a strong performer among consumers, but this year’s catalyst may come in the form of a tumultuous Q4 for OpenAI, a generative AI firm that Microsoft has built a close relationship with. gaming credentials OpenAI is responsible for generative AI sensation ChatGPT, and Microsoft’s involvement in the company appeared to ramp up a notch when the tech giants briefly hired ChatGPT’s exiled CEO, Sam Altman before he was reimposed at the company in the days leading up to Thanksgiving. "The golden child, Altman, is ultimately really in Microsoft's hands," . "The way they played this was a poker move for the ages from Nadella. The way this played out, you had the little kids playing checkers at the kids table in terms of the OpenAI board, and then the chessmaster came in." said Wall Street analyst Dan Ives "This is an arms race playing out… and right now they're popping champagne in Redmond, because of the way Nadella played this," Ives claimed. Microsoft invested $1 billion in OpenAI in 2019 and for the technology powering ChatGPT in 2020. This latest strengthening of ties between the two firms promises to guarantee Microsoft’s key involvement in the future of the emerging generative AI landscape. purchased an exclusive license 3. Crowdstrike (NASDAQ: CRWD) Amidst the AI furore among tech giants, it can feel as though Crowdstrike is hiding in plain sight. The stock has accelerated more than 100% in 2023 and is likely to play an instrumental role in the future of artificial intelligence security in the future. Crowdstrike produces AI chatbots that have the potential to bring automation to security operations centers while making the ability for technology to detect potential cybersecurity threats like hacking attempts far quicker. As the fundamental security concerns surrounding a burgeoning AI landscape become more pertinent, it’s likely that Crowdstrike will become vital in the battle against cybercrime. Preparing for a Rally Should we see a stronger Santa Claus Rally in 2023, it’s highly likely that the biggest beneficiaries will be within a GenAI landscape that’s continued to captivate investors throughout the year. The continued growth of the industry to new heights on Wall Street shows that there’s plenty of room yet for more upside moving into the new year.

Early Santa Claus Rally on Wall Street Opens Door to Fresh Generative AI Investing Opportunities

ওয়াল স্ট্রিটে প্রারম্ভিক সান্তা ক্লজ সমাবেশ তাজা জেনারেটিভ এআই বিনিয়োগের সুযোগের দরজা খুলে দেয়

Die frühe Weihnachtsmann-Rallye an der Wall Street öffnet die Tür zu neuen Investitionsmöglichkeiten im Bereich der generativen KI

El temprano mitin de Papá Noel en Wall Street abre la puerta a nuevas oportunidades de inversión en IA generativa

Le premier rassemblement du Père Noël à Wall Street ouvre la porte à de nouvelles opportunités d'investissement dans l'IA générative

वॉल स्ट्रीट पर शुरुआती सांता क्लॉज़ रैली ने नए जेनरेटिव एआई निवेश के अवसरों के द्वार खोले

ウォール街の初期のサンタクロース集会が新たな生成AI投資機会への扉を開く

월스트리트의 초기 산타클로스 집회로 새로운 생성 AI 투자 기회의 문 열림

Rally do Papai Noel em Wall Street abre portas para novas oportunidades de investimento em IA generativa

Ранний митинг Санта-Клауса на Уолл-стрит открывает двери для новых возможностей инвестирования в генеративный искусственный интеллект

Wall Street'teki Erken Noel Baba Mitingi, Yeni Üretken Yapay Zeka Yatırım Fırsatlarına Kapı Açıyor

Cuộc biểu tình sớm của ông già Noel trên Phố Wall mở ra cơ hội đầu tư vào AI sáng tạo mới

华尔街早期的圣诞老人集会为新的生成式人工智能投资机会打开了大门

Scientific American Supplement, No. 365, December 30, 1882 by Various, is part of the HackerNoon Books Series. You can jump to any chapter in this book . CALIFORNIA CEDARS. here CALIFORNIA CEDARS. The incense cedar ( ) is one of the valued trees of the California coast and mountains. It is eminently noted for great rapidity of growth, wonderful lightness, stiffness, and extraordinary durability. A thousand uses have sprung up and are multiplying around this interesting cedar as its most inestimable qualities become better known. Fortunately it is one of the most extensively distributed trees of the Pacific—found from the coast range north, south to San Diego, Sierra Nevada, southern Oregon, and most of the interior mountain region from 2,000 to 4,000 feet, and it even thrives quite well at 6,600 feet altitude, but seeming to give out at 7,000 feet, though said to extend to 8,500 feet, which is questionable. As usual with the sylva, flora, and fauna, this also is found lowest along the coast, where it finds the requisite temperature and other essentials, with combined moisture. The base and lower trunk somewhat resembles the Western juniper ( ). It is to be noted in general that trees of such broad, outwardly sweeping, or expanded bases seldom blow over, and to the perceptive and artistic eye their significant character is one of firmness and stability. One hundred to two hundred feet high, six to nine feet in diameter (rarely larger) the shaft is often clear of limbs 80 to 100 feet, and although the lower limbs, or even dry branches, may encumber the middle portion, pin-knots do not damage the timber. The massive body tapers more rapidly above than redwood, and is less eccentric than juniper, yet its general port resembles most the best specimens of the latter. The light cinnamon bark is thick and of shreddy-fibered texture, but so concretely compacted as to render the surface evenly ridged by very long, big bars of bark. These sweep obliquely down on the long spiral twist of swift water lines. The top is conic, the foliage is in compressed, flattened sprays, upright, thickened, and somewhat succulent; if not a languid type, at least in no sense rigid. It bears some resemblance to the great Western arborvitæ ( ), but the tiny leaf-scales are opposite and quite awl-pointed. The general hue of the foliage is light yellowish green, warmly tinted, golden and bead tipped, with tiny, oblong male catkins, as the fruit ripens in October and November. The cones are pendulous from the tips of twigs, oblong, and seldom over three-quarters of an inch long, little more than one-third as thick, and for the most part a trifle compressed. The wood is a pale cream-tint in color—a delicate salmon shade. This would hardly warrant the name white cedar, sometimes applied to it, as well as the giant arborvitæ. The extreme lightness of the lumber and its sweetness for packing boxes will commend it for express and commercial purposes, for posts and fencing, and especially railway ties, for sleepers, stringers, and ground timbers of all varieties, and for unnumbered uses, a tithe of which cannot be told in a brief notice. Formerly these trees were cut away and burned up, to clear the track for redwood, tamarack, and ponderous pith-pines, etc.; now all else is superseded by this incense cedar. Thus is seen how hasty and ill-advised notions give place to genuine merit. Libocedius decurrens J. occidentalis Thuja gigantea A fungus ( ) attacks and honeycombs it; and riddled as it may occasionally be, still, if spike or nail finds substance enough to hold, or sufficient solidity to resist crushing, then, for many purposes, even such lumber is practically as good as the soundest timber; because when the tree dies the fungus dies, and thenceforth will absorb no more moisture than the soundest part, and is alike imperishable, contrary to common experience in similar cases. This is a timber nearly as lasting as solid granite. For ship or boat lumber, the clear stuff from sound wood is so exceedingly light, stiff, and durable, and so plenty and available, that few timbers excel it, unless the yellow cedar or cyprus ( ) is excepted, which is a little tougher, stronger, perhaps more elastic, and equally durable, if judged apart from thorough tests and careful data, which, it has been remarked, the apathy or ignorance of some governments appear to deem unworthy their sublime attention. There are said to be in California a thousand times more and better kinds of naval timbers on government lands as important to preserve as the live oaks of the South Atlantic States. It has been asserted as probable that, after due investigation, California would be found to possess a vast amount of the best naval timber in the world, a hundredfold more lasting than the best now in use, if a few woods are excepted, of which there is understood to be no very adequate supply. dædalus Cupressus nutkaensis The great Washington cedar ( ) is another important California tree. The great sequoian timber belt lies along the Sierras, upon the first exposed mountain side—moraines of recent retiring glaciers—that face the Pacific, from Calaveras on the north to near the head of Deer Creek on the south—a distance of 200 miles, or a little above 38 degrees north to a little below 36 degrees; altitude 5,000 to 8,000 feet, and rarely 8,400 feet. The belt is broken by two gaps, each 40 miles wide, caused by manifest topographical and glacial reasons, one gap between Calaveras and Tuolumne, the other between Fresno and King's River; thence the vast forest trends south, across the broad basins of Kaweah and Tule, a distance of 70 miles, on fresh moraine soil, ground from high mountain flanks by glaciers. The inscriptions are scarcely marred by post glacial agents, and the contiguous water-worn marks are often so slight in the rock-bound streams as to be measured by a few inches. Rarely does one of these sound and vigorous cedars fall, and those that do will lie 800 to 1,000 years, scarcely less perishable than the granite on which they grew. The great sequoian ditches, dug at a blow by their fall, and the tree tumuli, always turned up beside the deep root-bowls, remain; but, scientists assert, not a vestige of one outside the present forests has yet presented itself, hence the area has not been diminished during the last 8,000 or 10,000 years, and probably not at all in post glacial times. These colossal sequoias rise 275, 300, and even 400 feet aloft; are 20 to 30, and in some rare cases 40 feet in diameter, looking like vast columnar pillars of the skies. No known trees of the world compare with them and their kin, the redwoods, for the focused proximity of such a marvelous amount of timber within limited areas—as it were, the highest standard of timber-land capacity. The stage coach passes through one; 120 children and a piano crowd inside another; a trunk furnishes a house for cotillon parties to dance "stout on stumps;" a horse and rider travel within the burnt-out hollows of others, and so on. A single tree would furnish a two-rail fence, 20 to 30 miles long. The tree has great value for wood and lumber.— Sequoia gigantea N.W. Lumberman. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various (2006). Scientific American Supplement, No. 365, December 30, 1882. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/18763/pg18763-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

CALIFORNIA CEDARS

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