This robot is pretty cool. Enrico ran into the CEO of iRobot at FiRe a few years ago, and she was talking about her conversations with the military about applications for her technology in Iraq, to help deal with IEDs. Enrico is stoked to see that these conversations and effort bore fruit.
See this story in the FT. This is quite a blow to Microsoft.
I am looking into the Appleseed project, open source distributed social networking. Still in beta.
The walled gardens of facebook and myspace and so on are definitely a dead end. Facebook has not really been able to monetize. People want those features, but only idiots are going to subscribe for more than a very nominal sum to pay for them, and most people will not be willing to pay ANYTHING. In five years, maybe less, Facebook will be inhabited only by the kind of people who were still on AOL in 1999.
Here are two views of the pace of bank failures year to date. Banks have failed so far this year at an average daily cumulative pace of about .527 banks per day. It appears that the main pacing factor for the number of bank failures is simply the capacity of the FDIC undertaking squad to go bury them.
However, the good news is, it appears that there is some reason to believe that the average cost to the insurance fund is going to go down. Sheila Bair hailed the April 30 takedown of several large Puerto Rico banks as a milestone in the bank resolution process, and it is easy to see from the DIF chart why she might have said that. The banks that failed that week cost the fund $7 billion!
We will probably end 2010 with about 180 banks failed, from 78 as of May 28, 2010. Then, based on the number of banks still on the troubled list, this pace of bank failures will probably continue for at least the first quarter of 2011. Then, barring a double dip recession, which, actually, I think will transpire, the rate of bank failures would return to normal.
But that’s a big caveat. I DO expect a double dip, and I DO expect euro zone disasters, and I DO expect further commercial real estate calamities.
The bank failure squad was covering the Land of Lincoln today, shuttering 7 seven banks, raising the number of banks which have failed so far this year to 57. That’s an average of .50442 banks per day. The rate for 2009 was .38 banks per day. The rate for 2008 was .07 banks per day.
EIGHT banks failed on Friday, bringing the total for 2010 to 50. That’s an average of .47 banks per day. The rate for 2009 was .38 banks per day. The rate for 2008 was .07 banks per day.
WTF, Chris Dodd?
What a shocker this is.
‘In another flashing yellow light, the report warned that a new voluntary long-term care insurance program created under the law faces “a very serious risk” of insolvency.’
It could have been replaced with “We’ve been robbed!!”
Enrico makes available the suicide letter of the guy who flew his plane into the IRS building in Austin. Enrico wonders how long it will still be available on the web. It makes compelling reading. Many people are as angry and frustrated as this guy, and Enrico fears that more blood will be shed before our confiscatory society wakes to its mortal peril.