Big Technology Podcast New Era Of Tech Accountability? + The Impending AI Ethics War
Jan 13, 2023
Ranjan Roy, a contributor to Margins with deep insights into tech and business, dives into the evolving landscape of technology accountability. He discusses JPMorgan's contentious acquisition of Frank, spotlighting user base misrepresentation. The conversation also covers the SEC's scrutiny of crypto amidst the FTX fallout and the ethical dilemmas posed by AI advancements. Roy hints at an impending AI ethics war, stressing the need for transparency and accountability among tech giants, while also touching on the diminishing relevance of platforms like Mastodon.
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JP Morgan & Frank
- JP Morgan acquired Frank, a college financial planning platform, for $175 million.
- Frank exaggerated its user base by a factor of ten, leading to a lawsuit.
Founder Accountability
- Founders may face greater accountability for fraudulent actions.
- The downturn in private tech and increased scrutiny contribute to this shift.
SBF's Defense
- Sam Bankman-Fried (SBF) maintains his innocence on Substack, claiming FTX's collapse was a leveraged exchange gone wrong.
- However, former colleagues and filings suggest otherwise, indicating potential fraud.