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What happened at FTX? “They stole the money” seems to be a true but insufficient answer. I think that part of the answer is that they found, and helped to build, a toy financial system, and they played with it. They didn’t take the game too seriously; they didn’t spend a lot of energy hiring accountants and compliance people, because that is not the fun part of finance. They built clever systems for margin lending and risk management, because it is fun to build an idealized trading system from scratch. But they also exempted themselves—Alameda—from that system, because it was just a game. In the real world, if you run a hedge fund and your balance becomes negative, the game is over. At FTX, when Alameda’s balance became negative, it got to keep playing.
How Not to Play the Game
bloomberg.com
The other day, a colleague asked if I knew where a local restaurant was. I popped the restaurant’s card up from Newton’s Names file. While he was looking for a piece of paper to write the address on, I spotted an HP LaserJet 5MP in the corner. I pointed my Newton at it, tapped Print, and by the time my friend found a sheet of paper, I had a printed address to hand him.
Reflections on Life Without Newton - TidBITS
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Typefaces can be protected in other countries, including the UK, Germany, and France, by industrial design protections that are similar to copyright or design patent in that they protect the abstract shapes.
Intellectual Property Protection of Typefaces - Wikipedia
en.wikipedia.org
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