The affect of those applied sciences could possibly be measured within the variety of folks affected. Greater than a billion folks in China at the moment are being uncovered to the virus for the primary time; 335 million on Twitter are watching Musk’s antics; and fentanyl killed 70,000 within the US. In every of those messes, there are necessary classes about why know-how fails. Learn on.

The FTX meltdown

Evening falls on made-up cash

Think about a world through which you may make up new varieties of cash and different folks pays you, effectively, actual cash to get some. Let’s name what they’re shopping for cryptocurrency tokens. However as a result of there are such a lot of forms of tokens, they usually’re onerous to purchase and promote, think about that an entrepreneur creates a personal inventory market to commerce them. Let’s name {that a} “cryptocurrency trade.” As a result of the tokens haven’t any intrinsic worth and different exchanges have gone belly-up, you’d be certain that yours was ultra-safe and effectively regulated.

That was the idea behind FTX Buying and selling, a crypto trade began by Sam Bankman-Fried, a twentysomething who touted subtle know-how, like a 24/7 “automated threat engine” that may examine each 30 seconds to see if depositors had sufficient actual cash to cowl their crypto gambles. Know-how would guarantee “full transparency.”

Behind the façade, although, FTX was seemingly simply old school embezzlement. In accordance with US investigators, Bankman-Fried took clients’ cash and used it to purchase fancy homes, make political donations, and amass large stakes in illiquid crypto tokens. All of it got here crashing down in November. John Ray, appointed to supervise the bankrupt firm, mentioned that FTX’s know-how “was not subtle in any respect.”  Neither was the purported fraud: “That is simply taking cash from clients and utilizing it in your personal objective.”

Bankman-Fried, an MIT graduate whose dad and mom are each Stanford College regulation professors, was arrested within the Bahamas in December and faces a number of counts of conspiracy, fraud, and cash laundering.

To study extra about cryptocurrency promoters, we advocate if Wolf of Wall Avenue have been about crypto, a satirical video by Joma Tech.

From drugs to homicide

How fentanyl turned a killer

Again in 1953, the Belgian physician and chemist Paul Janssen set about creating the strongest painkiller he may. He believed he may enhance on morphine, designing a molecule that was 100 occasions stronger however with a brief length. His discovery, the artificial opioid fentanyl, would change into the painkiller most generally used throughout surgical procedure.

At present, fentanyl is setting grim data—it’s concerned within the unintended loss of life of round 70,000 folks a yr within the US, or about two-thirds of all deadly drug overdoses. It’s the main reason behind loss of life in American adults below 50, killing greater than automotive accidents, weapons, and covid collectively.