SVP Technology at Fiserv; large scale system architecture/infrastructure, tech geek, reading, learning, hiking, GeoCaching, ham radio, married, kids
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Prediction Market 'Kalshi' Sued for Not Paying $54 Million for Bets on Khamenei's Death

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An anonymous reader shared this report from the Independent: A popular predictions market app will not pay out the $54 million some of its users believed they were owed after correctly forecasting the death of Ayatollah Ali Khamenei, according to a report. Kalshi, which allows players to gamble on real-world events, offered customers favorable odds on Khamenei, 86, being "out as Supreme Leader" in response to the announcement of joint U.S.-Israeli airstrikes on Tehran in the early hours of Saturday morning. The company promoted the trade on its homepage and app and tweeted [last] Saturday: "BREAKING: The odds Ali Khamenei is out as Supreme Leader have surged to 68 percent." It continued: "Reminder: Kalshi does not offer markets that settle on death. If Ali Khamenei dies, the market will resolve based on the last traded price prior to confirmed reporting of death." Khamenei was later confirmed dead in the airstrikes and the company clarified in a follow-up post: "Please note: A prior version of this clarification was grammatically ambiguous. As a customer service measure, Kalshi will reimburse lost value due to trades made between these clarifications...." While the company has offered to reimburse any bets, fees or losses from the trade placed prior to its clarification message, it has nevertheless attracted a firestorm of complaints on social media. A Kalshi spokesperson told Reuters they'd reimbursed "net losses" out of pocket "to the tune of millions of dollars". But a class action lawsuit was filed Thursday saying Kalshi had failed to pay $54 million: Kalshi did not invoke a "death carveout" provision until after the Iranian leader was killed to avoid paying customers in Kalshi's "Khamenei Market" what they were owed, the lawsuit said... The language specifying that Khamenei's departure could be due to any cause, including death, was "clear, unambiguous and binary," the lawsuit said, describing Kalshi's actions as "deceptive" and "predatory." "In a notice filed Monday, the company proposed standardizing the terms of all its markets that implicitly depend on a person surviving..." reports Business Insider. "The update comes after Kalshi paid $2.2 million to resolve complaints from users who were confused by the way it divided the $55 million wagered on Iran's Supreme Leader Ali Khamenei's ouster after his targeted killing by Israel and the US." Their article cites a DePaul University law professor who says "There's now sort of this nascent, but bipartisan movement against prediction markets. I think Kalshi's feeling the heat." For example, U.S. Senator Chris Murphy told the Washington Post, "People shouldn't be rooting for people to die because they placed a bet."

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JayM
2 hours ago
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Americans trust Fauci over RFK Jr. and career scientists over Trump officials

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Anti-vaccine activist and current Health Secretary Robert F. Kennedy Jr. has worked hard to villainize infectious disease expert Anthony Fauci, even writing a conspiracy-laden book lambasting the former director of the National Institute of Allergy and Infectious Diseases.

But a year into the job as the country's top health official, Kennedy—who has no background in medicine, science, or public health—still holds less sway with Americans than the esteemed physician-scientist.

In a nationally representative survey conducted in February by the Annenberg Public Policy Center at the University of Pennsylvania, 54 percent of respondents said they had confidence in Fauci, while only 38 percent had confidence in Kennedy. Breaking those supporters down further, 25 percent of respondents said they were "very confident" in Fauci, while only 9 percent said the same for Kennedy.

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JayM
2 hours ago
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LibreOffice Says Its UI Is Way Better Than Microsoft Office's

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darwinmac writes: While many users choose Microsoft Office over LibreOffice because of its support for the proprietary formats (.docx, .xlsx, and .pptx), others prefer Office for its "better" ribbon interface. These users often criticize LibreOffice for having a "clunky" UI instead of the "standard" ribbon interface you would find in Word, Excel, and other Office apps. Now, Neowin reports that LibreOffice is fighting back, arguing that its UI is actually superior because it is customizable, with several modes such as the classic toolbar interface, an Office-inspired ribbon layout, a sidebar-focused design, and more. Furthermore, it argues that there is no evidence that the ribbon offers "superior usability" over other interface modes. LibreOffice says in a blog post: Incidentally, the characterization of ribbon-style interfaces as "modern" or "standard," used by several users, is not based on any objective usability parameter or design principle, but is the result of Microsoft's dominance in the market and the huge investments made when the ribbon was introduced in Office 2007 as a new paradigm for productivity software. The idea that "modern" equals "similar to a ribbon" is a normalization effect: the Microsoft interface has become a benchmark because of its ubiquity, not because of its proven advantages in terms of usability. Added to this is the fact that many users evaluate office software through the lens of familiarity with Microsoft Office and consider deviation from it as a problem rather than a design choice. Before this, LibreOffice had also criticized its competitor OnlyOffice, accusing it of being "fake open source" because it believes OnlyOffice is working with Microsoft to lock users into the Office ecosystem by prioritizing the formats mentioned earlier instead of LibreOffice's own OpenDocument Format (ODF).

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JayM
3 hours ago
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Worth Reading: Modern Forwarding Architectures

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Ignoring the obligatory misguided mention of OpenFlow and a few other unicorns, I found this article to be a nice introduction to modern forwarding architectures, including networking infrastructure for AI clusters and distributed cell-based fabrics.

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JayM
3 hours ago
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Good overview
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Microsoft introduces Microsoft 365 E7 subscription with expanded AI features

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Microsoft Corp. today introduced a new subscription that bundles its productivity applications with artificial intelligence and cybersecurity features. The Microsoft 365 E7 plan, as the offering is called, is priced at $99 per user per month. It’s mainly geared towards large organizations. E7 includes a heavily upgraded version of Microsoft 365 Copilot, the AI assistant […]

The post Microsoft introduces Microsoft 365 E7 subscription with expanded AI features appeared first on SiliconANGLE.



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JayM
3 hours ago
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The Tug-of-War Over Firewall Backlogs in the AI-Driven Development Era

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Speed and security are historically clashing priorities, but with AI and automation, it's increasingly important that application developers and security teams get on the same page.

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JayM
1 day ago
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Yep
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