This is common in a lot of companies but specifically not for crypto custody due to insider risk. If an insider can jackpot for $6B by running a command on his laptop, either a malicious insider happens, or someone applies $5 wrench to the engineer or his kid, or takes over his laptop. It is like parthenogenesis.
7702 made the attack a bit more efficient but wasn’t critical. The core sin was the control plane to submit orders to the MPC signing system (I think it has been reported as MPC vs HSM but largely equivalent here) was not sufficiently isolated, and insufficient preventive controls and alerting on dev machines. But the number one thing for me is that devs could get access to replace signing control systems without a multiple person involved review and approval process. Plus $6.5B or more in assets in that system given that level of controls.
With this architecture honestly surprised a suborned insider didn’t steal the assets before this time. No need for outsiders if individual insiders can instruct a payment to be made.
(It is clear 7702 wasn’t core to this because non-eth systems using the same signing infrastructure were also compromised.)
I had a few long and fairly unpleasant calls with insurance markets over the past few days on this point as we do billion dollar insurance policies for similar risks; would have caught these during underwriting and raised with client and excluded or not issued until fixed.
I had no idea EU had mandated this from software developers/browser authors. I hope they can kindly go fuck themselves w.r.t. non-EU software not sold in EU (but merely available online for download by anyone).
It’s so funny how Americans seem to assume it’s the natural order of things that the whole world has to comply with American regulation, but lo and behold if the EU dares to have laws of its own!
Yes. The entire internet is US-shaped. From social networks applying ridiculous puritan beliefs globally to the madness that is the TLD system, DMCA, the CLOUD act… all the way to the NSA spying on non-US citizens to protect themselves.
A Puerto-Rican crypto bro wouldn’t have a career without the USA exerting their will and regulations onto the rest of the world.
It would have been funny if you forked and made a quad9-fr which blocked this stuff for FR and let people opt in to that. Obviously not scaleable to every jurisdiction on Earth, but maybe viable for the first ~20 stupid jurisdictions.
It wasn’t solely the Victorian elites — it was the entire elite part of the world in that era. Benefits of second Industrial Revolution, broadly peace, open borders and free trade compared to most of human history, etc. WW1 was a terrible end to (for much of the world; notably excepting China) one of the best periods of human civilization.
EU changed a lot this year (EU EES and ETIAS, long delayed), so this is probably different now than it was for some people before. It should be passport + biometric in and out, with a passport and biometric enrolled once as well, and visa-free stay duration (and other activities, like criminal stuff) logged against that record as well. Previously if you entered in one country and exited in another there wasn't really any closure of the record, so they effectively didn't care, and you could stay in EU indefinitely (and enter/exit much more while also overstaying, especially if you had multiple passports or could enter/exit from different countries).
I still remember him being one of the best writers about tech (a bit more than "journalism" in that a lot of it was of more evergreen value...) from the dotcom boom and then the peak "interesting" web apps period (2004-~2015 or so, when AJAX/etc was still new, and things hadn't calcified so much). Didn't know about his later health issues, I assumed he had just moved on to other interests naturally. RIP.
This will be really interesting for brain imaging I think -- particularly for non-penetrating trauma (blast, crash, falls) in environments where MRI is unsuitable/unavailable, or where potential injuries are very common and thus per-scan cost is critical.
If you scanned every American Football player before/after a game, it would probably lead to an end of the sport. Similarly with boxing, and soccer heading practice.
Also would be super useful in war zones -- you can't MRI due to metal fragments, and can't CT over and over again due to radiation, and right now most of the guidance is "don't get injured again" and is broadly ignored. Being able to scan people near point of injury (or just after high risk activities) would be great.
(Obviously lots of other uses for this in disease screening, etc.; difficulties with ultrasound due to bone, gas, etc.)
It will be terrible for brain imaging. The ultrasound waves can’t go through the skull and thus can’t image the brain. Additionally you would have to drown the patient since you need a medium other than air between the ultrasound emitting probe and the body which is water in their device.
CT is more than sufficient for imaging the brain in a case of trauma and MRI is not automatically better than CT in every case.
Vastly more favorable today than it was when Concorde flew.
1) Rich people are WAY richer, and time is even more valuable
2) Businesses have some very important employees and "2 day trip" vs "3-4 day trip" is worth $50-100k
3) Larger population of people able to pay $20-30k for a flight than ever before.
The biggest practical impact is there's probably going to be a private jet version instead of just a commercial one, and there will likely be transpacific demand exceeding transatlantic. Also government/military use.
You are not thinking high enough the food chain. I mean heck you have tenured SV engineers cracking $1mm with RSUs. It’s not rare in finance for folks to be hitting $3-5mm with bonus. So that’s what $19k comp a day. If that individual is making $5mm they are more than likely making a multiple of that for the organization.
Even these days, a lot of retailers operate fleets of private jets even for district or regional managers, because it saves somebody like Walmart a lot of paid hours to fly someone from rural town A to rural town B rather than potentially deal with the hassle of an overnight booking at an airport hub.
I still don't quite get it given I have never worked high enough or in a big enough corp. What kind of mission a person earning $19k a day have to do at the destination to justify the cost? I imagine to earn this much their main responsibility is to lobby / influence someone important (at dinners, golfing and such). Otherwise, if there are no outsiders involved the whole thing could be just done online. If it's about lobbying though - does it have to be done immediately and 3-4 times a week?
Another example that comes to my mind is a highly skilled expert in repairing some important machinery, e.g. ship engines or factory lines.
Again thinking too small. Large business dealings are still done in person, who is going to give another entity $50mm or more without meeting in person, having dinner and getting to know the counter party. It’s not about lobbying so much as time in person counts.
Who said anything about 3-4 times a week? There are plenty of businesses with high earners where time matters and I could see flights like these being profitable. Boards meet quarterly typically and they are often preferred to have in person.
Well yea great but why do they have to be there so quickly that not even a private jet is good enough?
What kind of multi million dollar deal blows up because a dude arrives 18 hours later? And what are they doing when they get there that couldn’t have been done online?
Again, time is money. It’s not about arriving later but the efficiency of time. Many different attributes to consider from sleep, to time optimization or more simply a lot of folks don’t particularly enjoy the long travel and it’s worth the premium. The kind of trips I am thinking about are business related, may only last a day or two with zero buffer before or after.
In business face time still matters. Less than prior to COVID but it still matters. Most boards prefer to meet in person.
If a fund can get into the Anthropic Series A vs. not get into the Anthropic Series A based on a flight to meet with the team, that is worth buying the supersonic plane even if you scrap it after.
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