A Quote by Neal Patterson
Without a national ID and the ability to create true data that can be be safely and securely sent between individuals, we are going to introduce new systemic risk back into the system.
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If you're not thinking about the way systemic bias can be propagated through the criminal justice system or predictive policing, then it's very likely that, if you're designing a system based on historical data, you're going to be perpetuating those biases.
I am absolutely opposed to a national ID card. This is a total contradiction of what a free society is all about. The purpose of government is to protect the secrecy and the privacy of all individuals, not the secrecy of government. We don't need a national ID card.
Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn't liquidate their risk, and the system tended to freeze up.
While many big-data providers do their best to de-identify individuals from human-subject data sets, the risk of re-identification is very real.
Basically, if you want to have a computer system that could pass the Turing test, it as a machine is going to have to be able to self-reference and use its own experience and the sense data that it's taking in to basically create its own understanding of the world and use that as a reference point for all new sense data that's coming in to it.
No new creation or destruction of matter is within the reach of chemical agency. We might as well attempt to introduce a new planet into the solar system, or to annihilate one already in existence, as to create or destroy a particle of hydrogen.
In Mexico, they don't have birth certificates... They don't have registration cards for voters. They have one national ID. We don't have a national ID.
I've always had a very developed superego. I also had a very powerful id, but there was no ego in the middle. So writing was always like letters sent from the id to the superego, saying, "What's going on here?" What I loved about writing was that I was totally weightless. I was amazed at the fact that I could be myself without being afraid that anyone would get hurt.
What we've underestimated is the systemic risk that that very finely tuned system of specialization exposes us to. And so I think we will start to ask whether there are ways that we could build some more robustness into our whole system.
It is not my belief that we need greater government regulation of hedge funds with respect to the systemic risk they create.
With the socialization of the health care system through institutions such as Medicaid and Medicare and the regulation of the insurance industry (by restricting an insurer’s right of refusal: to exclude any individual risk as uninsurable, and discriminate freely, according to actuarial methods, between different group risks) a monstrous machinery of wealth and income redistribution at the expense of responsible individuals and low-risk groups in favor of irresponsible actors and high-risk groups has been put in motion.
There can be no tolerance in a law-system for another religion. Toleration is a device used to introduce a new law-system as a prelude to a new intolerance... Every law-system must maintain its existence by hostility to every other law-system and to alien religious foundations or else it commits suicide
The truly unique trait of 'Sapiens' is our ability to create and believe fiction. All other animals use their communication system to describe reality. We use our communication system to create new realities. Of course, not all fictions are shared by all humans, but at least one has become universal in our world, and this is money.
When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize how the financial sector - the risks the financial sector takes on can impact the entire global economy, we realize that those risks needed to be controlled for the social good.
Unfortunately, tools that transfer risk can also increase systemic risk if major counterparties fail to manage their own risk exposures properly.
Not going back is fine. Not going back but occasionally visiting might be best. Not going back but remembering so you don’t see the same view twice. Not going back so you can turn a new page, write a new chapter, develop an entire new list. Not going back so you can stretch and grow and see yourself in a light that you never knew existed. Not going back so that you can fly. Fly.
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