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Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

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341–350 of 366 posts

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#341

Earlier quoted context omitted.

How do you pay that much money to get synthetic data? What a racket. I wonder if the professor feels shame for their complicity here.

There is a specific distribution of names of people that is very hard to fake. Think all the different first names, last names, their spellings and common names. Generating that many realistic fake names that still match the distribution of real names is hard.

So if a distribution exists and the data scientist is aware of it and knows hed need to match it within some deviation then that is pretty trivial to do in not too much time of coding and not too much runtime. If guy doesn't have that and doesn't know hes party to a fraud then its just as easy, random match first names and last names from a limited list. There's no training scenario imaginable that would be taking into account some particular name details. Guy was probably paid near 10k per hour, which I don't know, might trip me up a bit.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#342

Earlier quoted context omitted.

> it doesn’t really seem like you take accountability for your crimes. from the blog: > # Why the illicit digital transmission [charge]? > I definitely did this.

You cherry picked. That was only one of the charges. He minimizes or denies the legitimacy of other charges.

The other charges all looked like they were way for the prosecutors to get leverage. You yourself said:

> stole copyrighted content, distributed it for pay

which is the very charge I have "cherry-picked".

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#343
post #314
post #306

Earlier quoted context omitted.

Who do you think had the better lawyers?

Lawyers don't have much to do with this part of the process. Adults-in-custody have a points system that reflects where they fall on the ladder as far as custody level goes. More in Program Statement 5100: https://www.bop.gov/policy/progstat/5100_008cn.pdf

Lawyers have a huge impact on how the case (and defendant!) is presented, what is and is not considered in the trial or plea, what plea the person gets - or if they get one at all, etc.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#344

>> A prosecutor, Micah Fergenson, though, said JPMorgan “didn’t get a functioning business” in exchange for its investment. “They acquired a crime scene.” I do not understand how an acquisition this big got thru due diligence without noticing all the fake users. Anyone in corporate M&A know if it is normal to spend this much money without inspecting the goods? Seems like the most basic of OLAP queries and two days of…

I'm not surprised. Was part of an acquisition by a large F100 company. There were some "interesting" accounting calculations that we discovered 2 years after.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#345

Earlier quoted context omitted.

> a prison camp Is this different from a real/general prison? I mean does it have better facilities, space et cetera?

This is a good question. I did Googling. Here is what I found: From the US Federal Bureau of Prisons: https://www.bop.gov/about/facilities/federal_prisons.jsp > Minimum security institutions, also known as Federal Prison Camps (FPCs), have dormitory housing, a relatively low staff-to-inmate ratio, and limited or no perimeter fencing. These institutions are work- and program-oriented. The Elizabeth Holmes Wiki page sa…

Jeffrey Epstein, the New York Financier?!?

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#346

Earlier quoted context omitted.

There is a specific distribution of names of people that is very hard to fake. Think all the different first names, last names, their spellings and common names. Generating that many realistic fake names that still match the distribution of real names is hard.

So if a distribution exists and the data scientist is aware of it and knows hed need to match it within some deviation then that is pretty trivial to do in not too much time of coding and not too much runtime. If guy doesn't have that and doesn't know hes party to a fraud then its just as easy, random match first names and last names from a limited list. There's no training scenario imaginable that would be taking in…

When I said it's "hard" I mean for the average non-technical person, or someone who doesn't have access to a real-world dataset with millions of names for comparison.

You can easily find such datasets on the dark web, FYI.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#347
post #15

He broke an unwritten, cardinal rule, which is to never steal from the rich.

I was about to go on a rant about, "Why is it ethical to put people in jail for doing things that only affect money? Was anybody at JPMorgan hurt as bad as jail will hurt this person?" But you already answered the question.

[deleted]

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#348

Earlier quoted context omitted.

> It’s hard to take your views on sentencing seriously I have no idea why he had to surrender a year and a half of his life to a notoriously dangerous "correctional" institution for redistributing television streams. For profit or not. I think his incarceration represents an abuse of the system to protect sports monopolies. I genuinely wonder if it wasn't cruel and unusual. No offense but he clearly wasn't some elite…

Professional sports league games are the output of the efforts of thousands of people and billions of dollars of capital. The right to distribute video of those games are the largest part of how those leagues make money, as arranged by contracts and underpinned by intellectual property law. This is not a case of "you're just bottling tap water". There is tremendous value created by these leagues as represented by the…

> It is no different than stealing a laptop.

I reject this assertion.

> In fact, it's worse!

It is not. If I can copy your laptop: You still have a laptop. I also have one now. So it's actually the opposite of worse. It's not nearly as bad.

> Do you believe stealing laptops and selling them is criminal?

Do you still have a laptop? Then why should I be punished in a jail cell? If you want to settle for cash, we can talk, but if you intend on threatening my life over copies then you have lost the plot.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#349

I see the string of “30 Under 30” being a statistically valid predictor of future likelihood to go to prison continues. These lists feed on the narcissistic tendencies of grifters who are desperate to get on the list and then tell you about it on LinkedIn. These lists have such a bad reputation these days that legit top folks are asking their PR people to keep the off!

Reading Kornetzke's summing up of America, this fragment reminded me of SV and VC culture in particular:

"greed exalted as ambition"

You can google "It is America’s shadow made flesh" to find the entire passage.

Re: Founder sentenced to seven years in prison for fraudulent sale to JPMorgan

#350
post #272

Earlier quoted context omitted.

Aside from the factorizing cost, I suspect decompression will also be prohibitively slow. Exponentiation, multiplication and addition such large range numbers could still end up prohibitively expensive.

In addition to the performance problems there's the basic fact that no such scheme can possibly work (as proven by the pigeonhole principle). High compression rate schemes that actually work compress high likelihood inputs and expand low likelihood inputs by accounting for the characteristics that make inputs high likelihood--e.g., redundant highly patterned texts. Schemes that are agnostic about the input, like the…

That’s correct. I’m a little sleep deprived at the moment but that’s definitely the mathematical reason it’s not even feasible to begin with.
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