AI exam results GPT-4 is very good at exams. It smashed the bar exam straight into the 90th percentile. It is also outstanding at mathematics, which is more than could be said for its predecessor 3.5, which was good but not brilliant. Since these results came out, GPT-4 has also participated in the Maths Olympiad.

Genius Hello Larry, can you help us? I mean, that is the only job banks have. They take deposits, at call, and make longer-term loans like mortgages. Then they hope like hell everyone doesn’t ask for their money at once. I wish it was more complicated. Sure, there is complication and regulation and capital ratio

The safest asset in the world Let’s be honest. You had never heard of Silicon Valley Bank and neither had I. This week, and for a few more no doubt, they will be one of the best-known banks in the world. The subject of opprobrium because not only did they go bust but their CEO

P Marca From Mr ‘Code will Eat the World’, Marc Andreessen, a take on AI. Everywhere the government is involved gets more expensive. Everything with technology involved gets cheaper. As he puts it: The sectors in red are heavily regulated and controlled and bottlenecked by the government and by those industries themselves. Those industries are

End of the Empires US government interest payments on debt are now approaching $900 billion annually; they exceed the $722 billion defence budget by about 20% and are growing far more rapidly. Some weeks ago we covered the amount of US government debt that will need to be refinanced in the next 18 months, all