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In The Media

Ross Brown on Canada ass A Casino

by Larry Chiang on May 14, 2024

 
 
Ross Brown
⁦‪@Hey_ross‬⁩
You walk into a casino. You figure out that your iPhone, for some reason, causes a glitch in the slot machines that it makes it pay out 30% more often than other machines.

What would most people do? They would, in a broken casino, keep betting more and more, rolling their wins…

 
5/14/24, 7:52 PM
 
 
You walk into a casino.  You figure out that your iPhone, for some reason, causes a glitch in the slot machines that it makes it pay out 30% more often than other machines.
What would most people do?  They would, in a broken casino, keep betting more and more, rolling their wins into more bets, eventually realizing they have a massive opportunity to exploit, they begin borrowing money to use the exploit to maximize their income.
Then the casino figures out the bug, so they shut off the glitch and reset the machine back to not having the glitch, while the bettor has maximized their debt to bet on the sure thing.  They lose everything.
Neat cautionary tale, right?  Now, pretend the casino is the stock market and the glitch is fixed with the Consolidated Audit Trail, mandated for May 31st in the US and May 28th in Canada.
The gamblers are addicted to winning and never took their wins off the table, but borrowed from everyone’s pensions to bet on the ‘sure thing’
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WordPress’d from my personal iPhone, 650-283-8008, number that Steve Jobs texted me on

https://www.YouTube.com/watch?v=ejeIz4EhoJ0

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