democratized

Most DeFi users would have heard of yield farming. It was once beloved and embraced by investors. After all, the yields offered start from high double digits and can go up to astronomical Ponzi-like amounts when most farming in the early DeFi summer did not require a lock-up period, i.e., duration is zero. Compared to the TradFi fixed-income market, which offered negative real yields for tens of years of duration, it was easy to understand why many got excited over these opportunities. However, the initial high yields…

As demand grows for specialized portfolios, a trend known as direct indexing is quickly becoming an option for more investors.  Rather than owning a mutual or exchange-traded fund, direct indexing is buying the stocks of an index to achieve goals like tax efficiency, diversification or values-based investing. Traditionally used by institutional and high-net worth investors, direct indexing is poised to grow more than 12% per year, faster than estimates for mutual funds and ETFs, according to Cerulli Associates. More from…

Vienna’s Leitz Photographica Auctions celebrated its 20th year in business this week when it sold the camera of the man who invented 35-mm photography for €14,400,000 (US$15,147,360), smashing the previous world record of €2,400,000. Oskar Barnack was just 34 years of age when he built, in 1913, what would later become the first commercially successful 35mm still-camera, subsequently called Ur-Leica for Ernst Leitz Optische Werke.…

This article is part of our coverage of the latest in AI research. In early May, Meta released Open Pretrained Transformer (OPT-175B), a large language model (LLM) that can perform various tasks. Large language models have become one of the hottest areas of research in artificial intelligence in the past few years. OPT-175B is the latest entrant in the LLM arms race triggered by OpenAI’s GPT-3, a deep neural network with 175 billion parameters. GPT-3 showed that LLMs can perform many tasks…