Presumably the whole point of AI is that we can start reducing that number. I am sure there's a significant number of people just working on various administrative tasks processing data and documents.
You're misrepresenting things a bit. S&P 500 has not approved those changes yet and they have some other protections as well. Nasdaq and FTSE Russell definitely sold out and should not be trusted as good indexes going forward.
Most popular passive indexes are S&P 500 and some total markets. Total index, like the one used by VTI, is likely the best spot in this case. They have not changed any rules, as far as I know.
Excellent article. I agree with a lot of points. One think that wasn't mentioned is globalization and bailouts. Companies are getting bigger and more concentrated than ever before. And we bail them out when they fail due inefficiencies. There's no purge in the cycle. And all technological gains are eaten by bureaucratic inefficiencies.
I want to believe AI is the solution, but it's far from certain.
I did a bit of research on this some time ago and it's not as bad as I originally thought. Index funds would need to count only liquid float of the company. So if Space X total valuation is 2 trillion, but float is 5%, then they need to count it as 100 billion for the purposes of index weight. Still more than I want, but not catastrophic.
With modern tools it should be pretty easy to build scalable solutions. I take premature optimization as going out of your way to optimize something that's already reasonable. Not that you should write really bad code as a starting point.
Of course everyone should do their own due diligence, but my point is mostly that open source will have many more eyes and more effort put into it, both by owners, but also community.
I have an open source project and started receiving a lot of security vulnerability reports in the last few months. A lot of them are extremely corner cases, but there were some legit ones. They're all fixed now. Closed source software won't receive any reports, but it will be exploited with AI. So I definitely agree with the message of this article.
Most or all existing solutions are universal (not just reverse geocoding) and rely on database. The purpose of this project is to make it super fast to do one thing. The result is 100x - 1000x speed of Pelias and other universal tools like that.
It took about 8-10 hours for me on a 192GB Hetzner cloud machine. The resulting index was just 18GB, so once the index is created it's really efficient and you can easily run it on a small VM.
Self-hosted reverse geocoder with sub-millisecond query latency. C++ builder parses OSM PBF files into a compact binary index using S2 geometry cells. Rust server memory-maps the index and serves a Nominatim-compatible API. Docker support with automatic HTTPS.
Russia has been slowly cracking down on popular communication and media platforms. First they slow down connection to unusable speeds. This happened to YouTube at some point last year. At first they even said that it's something wrong with Google and it's not them. I think the intention is to slowly get people off the platform without completely blocking it. Then eventually they block access completely. Same happened to messaging apps, like WhatsApp and Telegram. Telegram is still working for messaging, but not calls. It's kind of funny because Telegram is used by Russian military to coordinate a lot of things, so they complain a lot about the block.
I think it's really poor argument that AGI won't happen because model doesn't understand physical world. That can be trained the same way everything else is.
I think the biggest issue we currently have is with proper memory. But even that is because it's not feasible to post-train an individual model on its experiences at scale. It's not a fundamental architectural limitation.
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