ChatGPT put an android in the head, and Paul “I’m like Atreides, lol” Durov gave an interview about Telegram

ChatGPT put an android in the head, and Paul “I’m like Atreides, lol” Durov gave an interview about Telegram

Almost all the most important and interesting financial news in Russia and the world in a week: the cringe-performance of the Tinkoff bank in court, the sale of frozen assets of Russians for 100,000 rubles. is about to begin, the Americans have pinched TikTok, and Boeings are falling apart.

Financial news from Russia, unfortunately, mostly does not correspond to the spirit of Habra. So you can read the full text version of this news release here, or watch the video.

The Supreme Court assessed the degree of arrogance of Tinkoff Bank

In February-March 2022, the ruble exchange rate stormed. At some point, the guys from the Tinkoff bank somewhat crookedly introduced mutual exchange rates between the ruble, dollar, euro and pound into the system – and a kind of financial “bug” appeared that allowed the bank’s clients to drive the currency exchange in circles and earn a guaranteed profit “out of thin air”.

Almost 850 people managed to use this life hack. But here Tinkoff decided that if the bank profits from its customers, it is called “capitalism”, and if the customers are from the bank, it is already “illegal enrichment”. In general, Teaneck blocked the accounts of all such enterprising traders and forcibly debited the money earned on the exchange back to the bank.

Since then, the courts have been going on for two years about this situation. At first, clients mostly won in the courts, then other courts began to side with the bank during the appeal – and finally, one of the processes reached the Supreme Court of the Russian Federation. The Supreme Court said it didn’t think Tinkoff was right and remanded the case.

But the funniest thing is not even that, but the decoding of the trial. There is a piece with something like this:

— Attorney Tinkoff: Mr. Judge, it is obvious that it is unacceptable to buy and sell currency in the same place at different prices for the purpose of making a profit. The client here engaged in malicious abuse.

— Judge: Wait, your bank literally does this all the time. He buys cheaper currency from customers and sells them at a higher price in order to profit from them, doesn’t he?

— Lawyer: RRRYAAAA, THIS IS DIFFERENT!! And in general, only banks and professional investors with education can make such a profit, and ordinary customers “according to concepts” are only allowed to trade in the red!! 🤡🤡🤡

And immediately the news caught up: Tinkoff Group announced its intention to acquire Rosbank (to finance this business, they want to conduct an additional issue of Tinkoff shares). At the same time, the two banks apparently do not plan to merge directly – they will continue to operate separately under their own brands.

Russians will be able to receive 100,000 rubles each. from the sale of blocked investments already in July

Details of the sale of sanctions-blocked assets from Russian investors to foreign investors (no more than 100,000 rubles) have appeared. The detailed guide was laid out by RBC (there is also a presentation from the broker “Investment Chamber”, which will guide you through the entire process, and their FAQ), but I will dwell on only a few points.

Personally, I have approximately such associations with the chosen broker

  • From March 25 to May 8, you will need to apply for participation through your broker. You choose papers from your portfolio yourself (within the list of admissibles and the limit of 100,000 rubles).

  • On the basis of all applications from Russians, lots will be formed for foreign investors, where everything is stuffed in a row. That is, foreigners will be able to buy only the entire package in its entirety, they will not be allowed to choose “I want this and I don’t want this”.

  • The minimum redemption price will be fixed according to stock exchange quotations of foreign securities as of March 22, 2024 (converted to rubles at the exchange rate of the Central Bank), the actual redemption price may be higher.

  • The whole process should be completed by July 29.

  • The list of papers subject to this process is published on the website of the Investment Chamber (you can go there now and check whether your assets frozen in the accounts of Russian brokers are on the list). Only those papers that are taken into account through NSD are allowed (for example, some shares that passed exclusively through the infrastructure of the SPB Exchange will not be suitable). Almost all FinEx funds are also listed (except FXRL and FXRU ETFs with Russian assets inside, which foreigners do not particularly need).

  • It seems that those who purchased foreign FinEx funds for ~20% of their fair value through an over-the-counter agreement within Tinkoff will also be able to take part in this movement and sell them for their full value (within 100,000 rubles, again).

Durov came out of the desert and spoke his mind

Pavlo Durov gave his first mini-interview since 2017: in it, he said that Telegram is being prepared for an IPO (preliminary valuation – $30 billion), and the messenger itself is about to turn from unprofitable to profitable. It seems that translated from the startup language, it means “give us money urgently, well, please, we may even give it back (but it’s not certain!)”.

And Pavlo posted a new hachimuchi photo in the style of “Paul Atreides cosplay on steroids”

By the way, a few weeks ago, Telegram also announced that they will start paying channel owners 50% of the revenue from advertising that is forcibly placed on them. However, such monetization will be disabled in Russia: perhaps the point here is that the payment is planned to be made with the stupid crypto token TON – and according to Russian laws, buying or selling something for crypto is strictly prohibited.

Another brutality of the regime regarding oppression of free social networks

The popular social network in the country, from which a huge number of its users learn about the latest news, caused the indignation of the government. The authorities declared that this social network is a tool of influence of foreign agents who aim to destroy the traditional bonds of society. As a result, the social network was given an ultimatum: either complete blocking on the territory of the country, or selling the business to local respectable people. One of the oligarchs (who suddenly turned out to be the former head of the Ministry of Finance) has already announced his willingness to purchase the company.

Well, did you understand from the context which specific country it is about?

Of course, this is news about America: the US Congress announced that TikTok has six months to sell the business (otherwise it will be blocked on a stick) from its unfriendly Chinese owners to some local businessmen. The former head of the US Treasury, Steven Mnuchin, is already scrambling to buy the asset.

The same Steve Mnuchin shows his wife: “Honey, look, now I can also make BR-R-R-R with a printer!” (Not Photoshop, no)

Something is wrong with Boeing

Last week, a flight attendant on one of the Boeing planes accidentally touched some tricky switch on the pilot’s seat – he drove away, lost control, and the plane went down. Unbelted passengers experienced for themselves what it is like – WEIGHTLESSNESS! Fortunately, there were no deaths.

On March 7, another Boeing had a wheel fall off during takeoff. It doesn’t happen with anyone, it’s a matter of life (I’m not talking about a piece of cladding that fell off recently)! After flying away earlier this year during a flight somewhere in the door stratosphere, it doesn’t look so scary anymore.

Zarubizhna Panorama writes: “Boeings were allowed to take screwdrivers in hand luggage – so that passengers could help with repairs if necessary.”

In short, things with security at Boeing are going frankly so-so. However, in terms of legal proceedings in the company, everything is not so bad: the former quality engineer of Boeing, who gave incriminating evidence in court about the absence of this very khlovite, was found last week in the parking lot having shot himself (but it is not yet certain).

Figure made a robot that can be sent three letters (and it will understand)

The company Figure AI makes humanoid robots. And you know what’s cooler than robots that look like people? The same, which can also be said!

So, last week the guys from Figure announced a partnership with OpenAI – now they insert internal ChatGPT into their robots, so you can chat with them and ask them to do something.

By the way, remember the AI ​​researcher named Ian Lekun, who leads the development of artificial intelligence at Facebook and is super-skeptical about the mental abilities of text-based neural networks? In a recent article, Igor Kotenkov told funny stories about how Lekun’s predictions about “obviously ChatGPT will never be able to do XX…” were disproved at record speed.

So, a new meme happened: in a very recent interview with Lex Friedman, LeCun said “this ChatZPT of yours can’t learn to clean off the table”, and in the video above, a tin humanoid from Figure with a built-in LLM is asked to clean off the table. Well, she cleans…

Igor: “Mr. Lekun is like a clock. Like a broken but accurate clock.”

However, British scientists may have discovered the reason why Lecoun cannot believe in the reasoning power of large language models: he recently admitted on Twitter that he completely lacks such a thing as an internal monologue. Well, if he himself does not think in words, it is obvious that no one else is capable of thinking in words. Checkmate, robophilologists are not finished!!

Good news of the week

Do you remember the news that the European Union is introducing a new system that will not allow entry into its territory without a biometric international passport? So, they thought there, and decided that after all, it should also be without him. And this is good!

And Robert Downey Jr. was finally given an Oscar for the role of Strauss. I haven’t seen the movie yet, but I respect his waltzes…

I hope one day I will be as bold as Johann Strauss’ mustache

I have more financial news and author analytics in the Telegram channel RationalAnswer.

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