LOL, no. They will be impacted - like every other professional services provider - but they won't be the first or most impacted, IMHO. Certainly key parts of legal work are more susceptible to AI automation than others, but that's not what makes the majority of lawyer's work

Lawyers will be the first casualty of GPT-4.

Accountants will be the second.

“[GPT-4] passes a simulated bar exam with a score around the top 10% of test takers; in contrast, GPT-3.5’s score was around the bottom 10%.”

In the 90s, if you had an F:/ drive, you were a computer badass.

And what's next?

Based on what?

Seems accurate , so far. We'll see how it goes tomorrow and this week. 🍿

For what it's worth, claims that the Fed is turning the money printer on to bail out the banks doesn't seem quite accurate.

1. Because they're explicitly allowing these institutions to fail.

2. The banks have sufficient assets on their balance sheets to pay out all deposits. The only issue is the maturity dates on those assets, relative to deposit durations. The mechanisms they appear to be using do not seem to involve any injection of taxpayer capital or money creation by the Fed.

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” —Henry Ford

Yeah, SVB failed because of an deposit duration/asset maturity mismatch, which couldn’t be corrected due to the cost of rolling those assets, which was a result of terrible risk management on their balance sheet. Their completely loss of liquidity was a function of that. Not a function of the bank being insolvent.

Seems like a fine time to meditate on Satoshi's words: "The root problem with conventional currency is all the trust that's required... Banks must be trusted to hold our money... but they lend it out in waves of credit bubbles with barely a fraction in reserve."

He's got scientist hair, no doubt

lil bro is a scientist

Is that a frisbee-golf thing?