HN user

purple_ferret

1,770 karma
Posts9
Comments365
View on HN

Braintree had $1.53 trillion TPV in 2023[0], and it's just a subsidiary of Paypal which has tanked to $40 billion market cap despite revenue and profit that are probably lightyears ahead of Stripe.

Honestly, I wouldn't touch Stripe with a ten foot poll at this valuation. Fintech is an industry that just disappoints in the end.

[0]https://www.paypal.com/us/braintree

US Tech Force 7 months ago

A lot of these places already have massive government contracts with their own management structures.

So the plan is to also make some of them federal employees, ostensibly helping to oversee those contracts? Seems like a conflict of interest...

Here's the tweet that prompted Elon's 'deleted' tweet:

18F, the far left government wide computer office that was recently taken over by allies of @elonmusk, is also the same agency that built Elizabeth Warren's "Direct File" tax program.

Direct File puts the government in charge of preparing peoples tax returns for them.

https://nitter.poast.org/alx/status/1886415751528972515?

Clearly, they think there is something malicious in having the federal government manage this service despite the fact that the result gets submitted....to the federal government anyway

But you don't understand. If the government helps you file your taxes, they'll use the service to collect your personal data, so the communists could use it against you at some point in the future.

(this is the right wing argument, so to speak)

Elon literally said they would be 'deleted' for being 'far left,' specifically for working on direct file.

Yet, people still seem baffled by what's going on and refuse to accept the maliciousness behind his and Trump's actions. He came out against a public technology service!

It's like Bill Gates being confused about USAID being dismantled and being willfully ignorant that the people dismantling it believe he's part of some sort of global health conspiracy along with Soros.

It's easy to see why they're successful. Their 'opposition' does nothing but roll over.

Some of these agencies have IT infrastructure meant to accommodate thousands of people. Many have convoluted structures to protect data; webs of contractor-led programs that are barely connected. You really think an engineer that will accept 70k pay is going to even understand what's going on?

AFAIK, it has never been stated publicly that DOGE or Mr. Musk would get control of this most essential service, responsible for sourcing identity verification, etc.

The man has been plotting on Signal with a bunch of cronies. Of course, he was never revealing his plans.

But, honestly, this makes perfect sense. USDS is an easy way for them to backdoor their way into the technology environment of the federal government on day 1. He gets a crew of talented people to report to him on day 1 who know the ins and outs as good as anyone in the federal government.

On top of that, after 4 years, they can tout all the successes of DOGE. Hell, they might even claim it saved Healthcare.gov

the usual "crypto will upend global financial systems/crypto will change the world" hype is conspicuously missing

That hype is nothing compared to the current hype, the idea that the US Government is going to buy a significant amount of Bitcoin to create a "strategic" reserve.

Every hype cycle gets bigger and bigger even as past ones never amount to anything

States like New York and California can become Carbon Negative on their own if they wanted to.

The Federal government is not needed for liberals to take the lead on this, but the mediocre center left Democrats who run everything in Blue States refuse to lift a finger.

They've been great for US Stock holders, which basically comprises most of the Upper and Upper Middle Class.

In fact, so good, people think anything buy 10-20% yearly gains on assets is bad

The strength of a union is have a large organization with funds for lawyers and such.

Most of those organizations (like the UAW) don't focus on technology positions, so software people are left out in a lurch a bit.

NYTimes has savvy, vocal people in it that have someone overcome this.

It's very common in union contracts.

They way it usually works is there is a probationary period that you can fire someone under for any reason (usually 90 days), but after that, supposedly you're more protected.

That said, in practice, it doesn't really prevent you from being part of a layoff or anything. You'll just get more notice and complaints.

I would never have guessed so many full-time employees were necessary to maintain a CMS.

Well they also run Cooking and Games, which has gotten pretty big. I imagine they have some hand in audio too.

They run their own services, such as messaging and ad delivery, too.

IIRC, they basically developed things like D3 and Backbone back in the day (or paid the maintainers)

Well we'll see how much teeth this fine based on how much Glenn Greenwald (who can't resist ranting on twitter) winds up owing.

Ironic he abandoned the US citing its freedom laws only to wind up in this situation.