Five Cool Reads Friday

1. Super Drug

In this thought-provoking blog, the author explores the transformative power of higher education in extending life, enhancing happiness, and strengthening relationships. They lament how this invaluable resource is needlessly hoarded behind Ivy League walls and skyrocketing tuitions. Addressing affirmative action and legacy admissions, the blog advocates for a shift towards a class-based approach, urging the government to invest $500 billion in the top public universities to reduce costs, increase enrollment, and promote vocational programs. The piece concludes by suggesting unity and inclusivity, emphasizing that the solution lies not in division but in enfolding and empowering a diverse, educated population for a brighter future.

2. Will A.I. Become the New McKinsey?

In this thought-provoking blog, the author challenges the commonly used metaphor of A.I. as a genie and proposes an alternative perspective: A.I. as a management-consulting firm like McKinsey. Drawing parallels between A.I. and corporate consulting, the blog highlights the potential dangers of A.I. being used to further capitalist interests, exacerbating wealth inequality and potentially displacing workers. It questions whether A.I. can be harnessed to assist workers rather than just serving the interests of management. The blog raises essential ethical considerations about the impact of A.I. and capitalism on society, challenging readers to ponder the role and responsibility of A.I. in shaping our future.

3. The meeting that showed me the truth about V.C.s

An entrepreneur sheds light on the harsh realities of the venture capital (V.C.) industry. As the numbers reveal, 95% of V.C. funds need help to achieve the coveted 3x return required for success. With only a tiny fraction of V.C.s reaping significant profits, questions arise about the sustainability of the traditional V.C. model.

The blog challenges prevailing assumptions and explores potential solutions to improve the V.C. landscape. From reducing fund timelines and seeking non-traditional investors to reevaluating compensation structures and weeding out underperforming funds, the author proposes ideas to level the playing field for both L.P.s and entrepreneurs.

Ultimately, this candid analysis exposes the complexities and challenges inherent in the V.C. world while calling for reimagining the industry to benefit all stakeholders involved.

4. New research suggests bankers are five times less likely to engage in financial misconduct when working from home

New Study Reveals Surprising Truth: Remote Work Boosts Financial Ethics! Peer-reviewed European Financial Management journal research finds that bankers working from home display higher ethical standards than office-based counterparts. During the lockdown, traders at a top U.K. bank working remotely had only a 7.3% chance of misconduct, while office-based traders had a chilling 37.6% probability. The study highlights the role of the office environment in promoting unethical behavior and the hidden impact of cognitive biases. As the future of work embraces hybrid models, this revelation challenges the office-centric approach and advocates for prioritizing integrity no matter the workspace.

5. FACT SHEET: Biden- Harris Administration Secures Voluntary Commitments from Leading Artificial Intelligence Companies to Manage the Risks Posed by?A.I.

The Biden-Harris Administration has secured voluntary commitments from seven leading A.I. companies, including Amazon, Google, Microsoft, and OpenAI, to prioritize safety, security, and transparency in A.I. development. These commitments aim to ensure that A.I. products are safe before release, invest in cybersecurity measures, and build public trust through clear communication and disclosure of A.I. capabilities and limitations. The Administration emphasizes responsible A.I. innovation, protecting Americans from harm and discrimination, and seeks to establish an international framework for A.I. governance. Various initiatives and executive orders have been implemented to advance responsible A.I. development and safeguard citizens' rights.

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