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GitHub's fake star economy

awesomeagents.ai

341–350 of 403 posts

Re: GitHub's fake star economy

#341
I'm starstruck. Honestly sad but not surprising since we live in the age where attention is a currency anything will be done to attempt to buy attention.

Just look at how many cool and legit open projects have the star-meter graph in their README.md - so of course people will start measuring against that metric and start gaming it.

I was surprised myself when I suddenly saw a starstruck badge on my profile. I never advertise my projects but I do feel honored when people think that my contributions are useful and stars are an easy way of showing that gratitude. At least I think that's how it was intended. And now someone is breaking that for scraps (or not scraps.)

This is exactly the bs that pushes services to not offer their own logins anymore, now you have to login with FB or GH or $randomFamousSvc instead of the more anonymous "by email" - just happened to me recently when I wanted to use a trial account, but I totally get it - with abuse trust is substituted with control. It's the same everywhere.. even voter ID.

Sorry, that went off track. I guess just don't look at the stars anymore. Wait, no, don't do that, stars are beautiful and so are you if you read all the way to here. Here's a * for you :)

Re: GitHub's fake star economy

#342
6 million. is that a lot? it's too bad they don't tell us.

but i think based on their statement that north of 90% of the buying repos were terminated by github, i'd say there would be very very many more fake stars without any github intervention.

i guess i just wish they hadn't made the first words of the article "Six million fake stars" without putting that into scale.

Re: GitHub's fake star economy

#343

Earlier quoted context omitted.

The answer isn't that they're morons. It's that they aren't people who "invest" in "good businesses" to make money, but instead on the whole a class of individuals classed with gambling on high risk ventures that will have absolutely massive returns and they don't care if 90% of them fail and 9% flounder because the 1% that succeed bring in absolutely apeshit amounts of $$ when they are acquired by someone else. Usin…

I know this isn’t quite your point. But for the portfolio approach to be plausible you have to play as if all of them will succeed, and only later sort out the failures. If you mentally say “well 90% fail so I’ll just throw in this dog shit to see what happens” then you increase the failure rate.

In other words, VCs should be taking a risk primarily by being very early. They should not be taking risks on low quality people or projects on the off chance that something good comes out.

Re: GitHub's fake star economy

#345
post #169

Can anyone explain why on earth VC's are making actual investment decisions based on imaginary internet points ? This would be like an NFL team drafting a quarterback based on how many instagram followers they have rather than a relevant metric like pass completion, or god forbid, doing some work and actually scouting candidates. Maybe the Cleveland Browns would do that[0], but it's not a way to mount a serious Super…

[flagged]

VCs mostly invest other peoples' money, not their own. The "rich people" are often pension funds, endowments, and other pools of capital rather than individual morons.

VCs themselves probably suffer from chronic overestimation of their own intelligence, but there just aren't many good signals at the stage of companies they're looking at. No customers, no revenue; often just an idea and hopefully a prototype. GitHub stars are as good of a signal as letters of intent, which is to say: a bad signal, but at least a signal. Other than that, they have to just evaluate what the founders are telling them (generally unrealistically optimistic at best) and whatever market research they can do (which is hard enough for the founders to do for their own product; image doing this for a dozen different companies every day).

Of course GitHub stars are a terrible signal, but the bar for signal quality is just really low.

Re: GitHub's fake star economy

#347

Can anyone explain why on earth VC's are making actual investment decisions based on imaginary internet points ? This would be like an NFL team drafting a quarterback based on how many instagram followers they have rather than a relevant metric like pass completion, or god forbid, doing some work and actually scouting candidates. Maybe the Cleveland Browns would do that[0], but it's not a way to mount a serious Super…

I agree with you but the funny thing about this comment is that fake Internet points is how decisions are made in many areas, including casting for TV shows and movies.

If you want to make it as an actor today, you need a social media following [1]. It is directly relevant to you getting cast. It also helps you connect with other actors, with producers and directors, etc.

Thing is, this isn't new. before social media, your influence was measured in "tear sheets" [2], basically any published story that you're in. This could be something as simple as going to Cannes or Sundance or even just to the hottest club.

Sports also uses a points system (kind of) but it's meant to reflect ability. Take the NFL, for example. Going from high school to college and college to the NFL, you will have stats relevant to whatever position(s) you play. For a QB it's things like interceptions, passing years, running yards, completed throw percentages, etc. You then have the NFL Combine [3]. This is an intensive camp where certain metrics are taken like how much you can lift, 40 yard dash, etc.

All of this tries to make it a science, or at least quantitative. But what I find funny is that despite all this work, it can still fail spectacularly. Like, being the #1 draft pick for the NFL is kind of a curse [4].

And then there's Tom Brady. For people unfamiliar with American sportsball, Tom Brady is arguably the greatest quarterback in the game's history, having 7 Superbowl rings. Thing is, he was a 6th round draft pick in the 2000 NFL draft. For anyone not familiar with what that means, 6th (and especially 7th) round draft picks are like the bottom of the barrel. You're not expected to take a starting position. You may not even play unless 1-2 people get injured. Nobody expects you to be a great.

[1]: https://www.backstage.com/magazine/article/social-media-acto...

[2]: https://avenueagency.wordpress.com/tag/tear-sheet

[3]: https://www.nfl.com/combine

[4]: https://www.si.com/more-sports/2011/01/13/sportscasting-exce...

Re: GitHub's fake star economy

#348

Earlier quoted context omitted.

> Again, VCs don't care if you'll make a profitable business some day. They're just interested in if someone else will come along and pay out giant bags of cash for it later in a liquidity event. If they get even one of those successes, all the stupid GH star watching pays off. And if that's true, they should be slapped, hard. They're no longer performing a socially useful function, and and have degraded towards pure…

“no longer”… lol

Yes. Made my day!

Re: GitHub's fake star economy

#349
post #284
post #169

Earlier quoted context omitted.

[flagged]

We're all morons outside of some very narrow areas of expertise. By most criteria James Mattis would be considered a smart guy: he earned a Master's degree, commanded troops effectively in combat, and served as Secretary of Defense. And yet he fell for the Theranos fraud. You have to know your limitations, and too many people think that because they're good at one thing they must be geniuses who are good at everythin…

> We're all morons outside of some very narrow areas of expertise

speak for yourself, I guess? Some people know things in many areas. But even if they are not experts outside of their areas of expertise, they may recognize their limitations in other areas and thus avoid making costly mistakes. This may even be the rule for adults, rather than the exception.

Re: GitHub's fake star economy

#350
post #169

Can anyone explain why on earth VC's are making actual investment decisions based on imaginary internet points ? This would be like an NFL team drafting a quarterback based on how many instagram followers they have rather than a relevant metric like pass completion, or god forbid, doing some work and actually scouting candidates. Maybe the Cleveland Browns would do that[0], but it's not a way to mount a serious Super…

[flagged]

Maybe so, but please don't call names, fulminate, or post unsubstantive comments to Hacker News. You can make your substantive points without these, and we're trying for something different here: https://news.ycombinator.com/newsguidelines.html.

Perhaps you don't owe morons, VCs, or rich people better, but you owe this community better if you're participating in it.

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