If you have not heard of the Giving Pledge, it is a good thing. It was started by the Gates Foundation and Warren Buffett. You have to give at least half of your money away, Gates are giving 95%. Warren Buffett is giving 99%. Doing this blog has given a good view on all of it and yes there is value for software for sure but when you start looking at what gets value, i.e. Facebook, Twitter, LinkedIn…pseudo values and here hyped by the markets and the banks. Sure I like social media but the values with stock are a joke and they do have value but again I can’t eat Twitter for breakfast or drive Facebook to get to work, much less wear LinkedIn, so there’s the message right there with valuations.
Bill Gates & Warren Buffett – Call for Philanthropy To Give 50% of Their Fortunes To Help Others With “The Giving Pledge”
Basically software does two things, it queries and executes to get down to the bottom and yes it’s really not that simple but that’s what it all does at the bottom line and what we do with it, well there’s the creators and it’s up to us to determine or suck in what the markets tell us has value. If you read here often enough then you know I have identified “money sucking code” many times over and frankly as more of it exists, you won’t be able to ignore it much longer. Software helps us be smarter, make better decisions and improve lifestyles but when that gives way to “money sucking code” we get lost in the translation. Nobody minds terrible if code makes money, but give it some value and balance along the way. That is what we have lost. Wall Street seems to think that code can feed and clothe the world, it can’t as we know. We already face the Algo Duping phenomena and the subsequent Attack of the Killer Algorithms. I coined those two phrases a couple years back.
Big Data/Analytics If Used Out of Context and Without True Values Stand To Be A Huge Discriminatory Practice Against Consumers–More Honest Data Scientists Needed to Formulate Accuracy/Value To Keep Algo Duping For Profit Out of the Game
Warren Buffett says saving huge masses of wealth is not realistic, how much can they spend? There’s no pooling of money with the Giving Pledge. The billionaires see the corruption and the use of the “money sucking code”…they may not call it that, but that is what it is.
Bill Gates nails it as what good is it to have vaccinations if you can’t get the product out to the people. They see how the government is cutting research money and this is where they step in.
Here’s a grand idea too, “de-valuate the algorithms” and start excise taxing those that mine and sell our data and create issues for consumers with the epidemic…these are not much more than “money sucking code” that is marketed to make us think it’s good, whether it is or not as the real goal for most of it is for corporations and insurance companies and banks to get rich. I made this post in the middle of 2012…so not a new problem.
“Devaluate the Algorithm” And “Tax the Data Sellers”–A Cure for Both Healthcare and an Economy Based Heavily on Intangibles–We’ve Lost Our Balance
It is so bad out there and with extreme marketing you can’t tell the good from the bad and there is both but this will actually make a market of useless analytics software…
Half of Analytics Investments By Companies and Banks Will Be a Waste–What Do We Analyze with Big Data and Does It Have Value–Some Algo Fairies Would Do Better at Disneyland…
Media and Press Releases In Healthcare That Go Nowhere–Marketing to Sell You Analytics With Using Fear and Misplaced Guilt Overtones As a Theme
The group realizes that we have a government that can’t function very well and we end up with low tech band aid ideas and solutions where high tech solutions are needed, see that at HHS and SEC all the time with just plain old figureheads running those agencies and they get duped and duped again. Reviving Glass Steagall is one big example of a low tech proposed solution…better than nothing but again it’s low tech and the banks will have 5 more years to build math models to prepare and alter and adjust the “money sucking code” as they need. No offense and I like Elizabeth Warren a lot but the solution is what it is.
Glass-Steagall Revival Presents a “Low Tech” Partial Solution for an Industry that Needs “High Tech” Regulation-Consumers Get 5 More Years of Bank Modeling For Inequality With Segmentation - No Real Regulation In Sight
So this is where it’s at with the good folks that are here to try and make a difference, thank goodness unlike the ones on Wall Street with “Money Sucking Code”…Bill Gates has said it himself before that getting people to part with their money is not an easy task. BD
Bills Gates, It’s Not just a Math Numerical Solutions That Work, As He Discusses “Modeling, Patents, Healthcare And Getting Rich People To Part With Their Money”
Membership comes with just two requirements: You must be worth at least a billion dollars and be willing to give half of that away. Charlie Rose reports.