SSN Readiness

[nittany03]

Then how come the money isn't spent? And the interest? What strings are attached to the gains on investments?Sorry. It is BS.

Because having the money in the bank or invested allows you to spend the interest or dividends in perpetuity. But the minute you start spending the principal, you're eating your seed corn because then the returns go down.

Just like you don't blow your nest egg the first year you retire.

 

[wink]

Because having the money in the bank or invested allows you to spend the interest or dividends in perpetuity. But the minute you start spending the principal, you're eating your seed corn because then the returns go down.

Just like you don't blow your nest egg the first year you retire.

$50 Billion!! More coming EVERY year. You can spend some principle IF you ever got to it. There is no excuse for not being a part of the solution to the cost of education and number of scholarships. The money is endowed for education. The mission of these schools is to educate, NOT build nest eggs for a day that will never come. Do the math.

 

[Sonog]

Bottom line issue is that our business culture lives in a society that doesn't invest enough in people or labor.

 

[taxi1]

$50 Billion!! More coming EVERY year.

1% interest on $50B is...a lot of annual tuition for a lot of people.

 

[nittany03]

1% interest on $50B is...a lot of annual tuition for a lot of people.

And the only kids who actually pay full freight at those schools are the ones whose parents are of means.

 

[nittany03]

$50 Billion!! More coming EVERY year. You can spend some principle IF you ever got to it. There is no excuse for not being a part of the solution to the cost of education and number of scholarships. The money is endowed for education. The mission of these schools is to educate, NOT build nest eggs for a day that will never come. Do the math.

Just because you say something with enough conviction doesn’t make it true.

 

[Flash]

Harvard's endowment is over 50 BILLION!! Restrictions on not spending it? They get millions of dollars and it is restricted to spending on a Chair in calypso music, so goes unspent? How about they spend a good portion of the interest on tuition or lowering tuition for all. I still call BS.

I pointed out that many of the schools that have the largest endowments do in fact spend a substantial portion on tuition assistance, but that doesn't sell papers or get clicks $50 BILLION ENDOWMENT!!!!

After doing just a modicum of research on college endowments and not just relying on flashy headlines, apparently 95% of donations to colleges come with restrictions and many are 'restricted' donations with some stipulating the school can only utilize the interest from the donation itself. Dartmouth has a good explainer on their categories of restricted funds in their endowment, showing just how strict some of the funds can be.

Of course if you are really interested in just what a school uses it endowment for you can always look it up. Harvard, which is actually made up of 12 separate colleges, has the country's largest endowment and has a helpful page dedicated to explaining all about it to include what it is composed of, more than 14,000 individual funds, and how it utilizes the funds, $2.1 billion last year funding over a third of Harvard’s total operating revenue in that year.

Here is an great explanation of their endowment and its limitations:

The overwhelming majority of the funds that make up Harvard’s endowment are donor directed to specific programs, departments, or purposes (dedicated scholarships, named professorships, etc.), and must be spent in accordance with terms set forth by the donor. Payout from these funds can only be spent in support of the fund’s designated purpose. Unrestricted funds, which account for less than 20 percent of Harvard’s endowment, are more flexible in nature and are critical in supporting structural operating expenses and transformative, strategic initiatives.

So yeah, a lot more complicated than $50 BILLION!!!

Schools fight these cases, and often win. This is a very recent example: https://newhampshirebulletin.com/br...million-gift-differently-than-donor-required/

That is a single case and large endowments often contain hundreds or even thousands of different donations, to challenge all of those that have restrictions would consume so much time and energy it would be counterproductive but in a few cases.

The focus on a handful of schools that have very large endowments also distracts from the hundreds of schools that don't have those endowments but have almost universally raised tuition prices well ahead of inflation over the years. That includes my state school, which has had its funding from the state decline over the years to include a 39% decrease in the wake of the 'Great Recession' of 2008 to where it now receives only 8% of its operating budget from the state.

 

[taxi1]

So yeah, a lot more complicated than $50 BILLION!!!

When the number gets big enough, it starts to become uncomplicated. That's a lot of $%^-ing money.

I bet Harvard tries to convince the donators to contribute to the General Fund where it could be used for defraying tuition, instead of some specific pinpoint infrastructure contribution.

Not.

 

[Flash]

When the number gets big enough, it starts to become uncomplicated. That's a lot of $%^-ing money.

Just like the defense budget, which is even huger and uncomplicated too.

I bet Harvard tries to convince the donators to contribute to the General Fund where it could be used for defraying tuition, instead of some specific pinpoint infrastructure contribution.

Not.

Because folks who have enough money to donate to Harvard are blasé about just what it gets spent on, like the countless rich folks who don't really care what they spend their money on.

 

[Articuno]

I can’t really see the plumbing company sending a multimillion dollar robot to your house to replace your sink. However, I can definitely see HII using advanced robotics to weld reactors right the first time so new boats don’t need a 2.5 year PSA. (Looking at you, Nu Flow) The military industrial complex I have no doubt will utilize these advances to the fullest extent and hopefully fix our system. Im not anti-union, but im anti-union when it’s at the tax payers expense. I have worked enough shipyard availabilities to know the bubbas are cheating the system worse than your buddy who developed carpal tunnel and tinnitus 2 months before separating. Also, robots won’t burn down a submarine because they want to go home early.

Hot AI take, i think most of the civilian professions/jobs are pretty safe in the long run. The big professions that are fearful (law, medical research, CS) will never let AI take over. They will use it, but it won’t replace them. The BAR won’t allow an AI to practice law and will debar attorneys who rely too heavily on it, pharma and hospitals won’t allow AI diagnoses or R&D without human oversight because it would put any malpractice directly on their shoulders instead of the MD responsible, and if you fire programmers you’re just converting them into black hats to go fuck up your networks. A real fun one I’ve seen is the idea that an AI can replace a therapist. Ain’t no way I’m taking advice from something that can’t feel feelings, even if it’s advice is bang on.

As for unskilled gigs like tech support, telemarketing, etc., people hate dealing with robots as it is. If a commercially available AI does eventually pass the Turing test, I highly doubt it will come at a cheaper price than the wages of the unskilled labor it would replace.

Progressing an AI into an AGI will be scary. But, an AGI is going to be used for complex problems like figuring out interstellar travel and not how to sell cars better. Maybe if it becomes widely available or an AGIaaS is implemented it can start to get pretty dystopian. However, if that happens, to quote the incredibles, “when everyone’s super, no one will be.” Your job security isn’t going to be your main concern when the Jones’s personal android butler can deepfake your likeness to convince your wife you were cheating on her all because you didn’t pick up your dog’s shit from their lawn.

 

[Swanee]

Subs, to liberal arts/humanities, to the cost of higher education and endowments. I love it.

 

[sevenhelmet]

Subs, to liberal arts/humanities, to the cost of higher education and endowments. I love it.

True to brand. This. Is. AW!

 

[nittany03]

and if you fire programmers you’re just converting them into black hats to go fuck up your networks.

Uhh . . . no. First off, pentesting and its more evil cousins != software development. Just because people are sitting in front of a screen with funny-shaped symbols you don't understand, and maybe typing things into (gasp!) a Linux terminal doesn't make it "hacking."

Second, just because a professional gets fired doesn't mean they're willy-nilly going to commit multiple Federal felonies just to get back and for the lulz. You take the L and you polish up your resume for the next employer, not do things that will land you in jail and effectively blacklisted from the industry for life.

 

[wink]

I pointed out that many of the schools that have the largest endowments do in fact spend a substantial portion on tuition assistance, but that doesn't sell papers or get clicks $50 BILLION ENDOWMENT!!!!

After doing just a modicum of research on college endowments and not just relying on flashy headlines, apparently 95% of donations to colleges come with restrictions and many are 'restricted' donations with some stipulating the school can only utilize the interest from the donation itself. Dartmouth has a good explainer on their categories of restricted funds in their endowment, showing just how strict some of the funds can be.

Of course if you are really interested in just what a school uses it endowment for you can always look it up. Harvard, which is actually made up of 12 separate colleges, has the country's largest endowment and has a helpful page dedicated to explaining all about it to include what it is composed of, more than 14,000 individual funds, and how it utilizes the funds, $2.1 billion last year funding over a third of Harvard’s total operating revenue in that year.

Here is an great explanation of their endowment and its limitations:



So yeah, a lot more complicated than $50 BILLION!!!



That is a single case and large endowments often contain hundreds or even thousands of different donations, to challenge all of those that have restrictions would consume so much time and energy it would be counterproductive but in a few cases.

The focus on a handful of schools that have very large endowments also distracts from the hundreds of schools that don't have those endowments but have almost universally raised tuition prices well ahead of inflation over the years. That includes my state school, which has had its funding from the state decline over the years to include a 39% decrease in the wake of the 'Great Recession' of 2008 to where it now receives only 8% of its operating budget from the state.

So how much of restricted funds ever get spent? If they spend what they are given for the purpose it was given, they would not have $50B and growing.

Anyone ever notice that everything is "complicated" to @Flash ? Some things certainly are. But sometimes claiming something complicated is simply to obfuscate. The number of details and facts alone do not make anything complicated. You can make mowing your lawn complicated if you wish.

 

[Random8145]

I can’t really see the plumbing company sending a multimillion dollar robot to your house to replace your sink. However, I can definitely see HII using advanced robotics to weld reactors right the first time so new boats don’t need a 2.5 year PSA. (Looking at you, Nu Flow) The military industrial complex I have no doubt will utilize these advances to the fullest extent and hopefully fix our system. Im not anti-union, but im anti-union when it’s at the tax payers expense. I have worked enough shipyard availabilities to know the bubbas are cheating the system worse than your buddy who developed carpal tunnel and tinnitus 2 months before separating. Also, robots won’t burn down a submarine because they want to go home early.

Hot AI take, i think most of the civilian professions/jobs are pretty safe in the long run. The big professions that are fearful (law, medical research, CS) will never let AI take over. They will use it, but it won’t replace them. The BAR won’t allow an AI to practice law and will debar attorneys who rely too heavily on it, pharma and hospitals won’t allow AI diagnoses or R&D without human oversight because it would put any malpractice directly on their shoulders instead of the MD responsible, and if you fire programmers you’re just converting them into black hats to go fuck up your networks. A real fun one I’ve seen is the idea that an AI can replace a therapist. Ain’t no way I’m taking advice from something that can’t feel feelings, even if it’s advice is bang on.

As for unskilled gigs like tech support, telemarketing, etc., people hate dealing with robots as it is. If a commercially available AI does eventually pass the Turing test, I highly doubt it will come at a cheaper price than the wages of the unskilled labor it would replace.

Progressing an AI into an AGI will be scary. But, an AGI is going to be used for complex problems like figuring out interstellar travel and not how to sell cars better. Maybe if it becomes widely available or an AGIaaS is implemented it can start to get pretty dystopian. However, if that happens, to quote the incredibles, “when everyone’s super, no one will be.” Your job security isn’t going to be your main concern when the Jones’s personal android butler can deepfake your likeness to convince your wife you were cheating on her all because you didn’t pick up your dog’s shit from their lawn.

What I wonder is when you tell your personal robot/Android to go make a run to the grocery store in your self-driving car, will the robot drive itself, let the car drive, or maybe they argue?

Also, I wouldn't call tech support an unskilled job.