I find this video fascinating on multiple levels. Here is Bernie Madoff, RIP, talking about how it is impossible to violate a rule and get away with it. And he goes further to suggest that it gets even better when we “take the human out of the equation” by using algorithms. It will further eliminate the chance for fraud. Obviously he was violating the rules big time and got away with it for quite a period. Secondly, this idea that algorithms are not corruptible is laughable. Who wrote them?! I realized that major players, social media and others still are holding to this argument. They keep using the excuse, “It’s the algorithm! it is not us!” Algorithms in and of themselves are not a bad thing, in fact can help us improve human civilization. But our “betters” realized they could use them to hide behind, still manipulate and benefit themselves and “take the human (themselves) out of the picture”.
Categories
5 replies on “Bernie Madoff “No rule breaking here!””
The best quote about algorithms I have heard is this: “Algorithms do not write themselves.” I have programmed computers for about 20 years. Tell me what you want it to do, and I will tell you going long it will take and how well it will do it. About the only algorithm I may not be able to easily write would be one to make Biden make sense and be conservative..😝
I think that is a key foundational point. An algorithm is written by a human mind but we some how think that it is on it’s own. Those who write them purposefully frame the concept like the algorithm is its own self. They take it to the extreme with AI (artificial intelligence) as if some new being is going to evolve from the 1’s and 0’s. Still there is a mind at the beginning who wrote the program. Perhaps at ground level it is a denial of the amazing nature of our minds and how completely extraordinary and set apart they are from any machine or system in the entire universe.
The algorithms are only as honest as the biased, fallible, human employee that was paid to create. The programs are intentionally written to do exactly what they are doing and any other statement is telling fairytales.
Also, how many times have we seen the algorithms “tweaked” to exclude another group or demographic?
These are not static formulae. They are constantly being reviewed and updated to better perform their core purpose: censorship of those who do not conform to group-think.
It’s so nice to see people looking normal, not all masked up and social distanced. That being said, Mr. Madoff was interesting to listen too and made some good points.