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 Post subject: Re: What's with the tech sector?
PostPosted: Fri Mar 24, 2017 10:18 am 
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Of Systemic Importance

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Related to ChickenParmentier's post on core banking systems (possibly better in the banking thread).

That thing about core banking platforms, Oscar D Torson
https://medium.com/@odtorson/that-thing ... .g3b8qasut

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 Post subject: Re: What's with the tech sector?
PostPosted: Fri Mar 24, 2017 10:31 am 
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Eschatologist wrote:
Related to ChickenParmentier's post on core banking systems (possibly better in the banking thread).

That thing about core banking platforms, Oscar D Torson
https://medium.com/@odtorson/that-thing ... .g3b8qasut



Great read thanks.

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 Post subject: Re: What's with the tech sector?
PostPosted: Fri Mar 24, 2017 10:42 am 
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Posts: 31854
Location: Tullamore
Mantissa wrote:
Eschatologist wrote:
Related to ChickenParmentier's post on core banking systems (possibly better in the banking thread).

That thing about core banking platforms, Oscar D Torson
https://medium.com/@odtorson/that-thing ... .g3b8qasut



Great read thanks.

SLL 1

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 Post subject: Re: What's with the tech sector?
PostPosted: Mon Mar 27, 2017 1:37 am 
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Eschatologist wrote:
Related to ChickenParmentier's post on core banking systems (possibly better in the banking thread).

That thing about core banking platforms, Oscar D Torson
https://medium.com/@odtorson/that-thing ... .g3b8qasut

Maybe there's a few nuggets of intelligence in there but it's outweighed by horse shite:

Quote:
Cost of compute resources and interprocess communication. When projects failed they did not usually fail because the system could not do what it was supposed to do, but because it was too slow. People were using all those neat object-oriented techniques that allowed to separate the concerns but the overhead and duplication of tasks that this introduced was much bigger than expected, and the compute and communications resources available at that time were simply too slow (or too expensive) run those systems at the speeds required.

It's true that in the COBOL-OO/Java transition era there was a lot of unrealistic crap being peddled about the latest fad of "intergalactic distributed objects" but that was only the latest in a never-ending line of IT industry hype. I never came across a system that failed because of a lack of "compute and communications resources". (I met and discussed this personally with Orfali and Edwards about their book at the time). Intergalactic objects didn't fail because the internet wasn't robust enough to support super-generic distributed 'Customer' and 'Order' objects. No, projects failed for the same reason they always had, always do, and always will -- the (mis)management of organisational complexity and requirements specificity and the inability to bridge the gap between the business and techies. Whether it was knowledge-based systems in the 80s, client/server and objects in the 90s, service-oriented architecture in the noughties or microservices today, the IT industry has always dealt in silver bullets and snake oil at the expense of hapless customers with real business needs. Indeed, not only IT, but the consulting industry in general is populated by sharks ready to separate gullible people from their money.

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 Post subject: Re: What's with the tech sector?
PostPosted: Mon Mar 27, 2017 9:08 am 
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Joined: Sep 13, 2007
Posts: 31854
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ps200306 wrote:
Eschatologist wrote:
Related to ChickenParmentier's post on core banking systems (possibly better in the banking thread).

That thing about core banking platforms, Oscar D Torson
https://medium.com/@odtorson/that-thing ... .g3b8qasut

Maybe there's a few nuggets of intelligence in there but it's outweighed by horse shite:

Quote:
Cost of compute resources and interprocess communication. When projects failed they did not usually fail because the system could not do what it was supposed to do, but because it was too slow. People were using all those neat object-oriented techniques that allowed to separate the concerns but the overhead and duplication of tasks that this introduced was much bigger than expected, and the compute and communications resources available at that time were simply too slow (or too expensive) run those systems at the speeds required.

It's true that in the COBOL-OO/Java transition era there was a lot of unrealistic crap being peddled about the latest fad of "intergalactic distributed objects" but that was only the latest in a never-ending line of IT industry hype. I never came across a system that failed because of a lack of "compute and communications resources". (I met and discussed this personally with Orfali and Edwards about their book at the time). Intergalactic objects didn't fail because the internet wasn't robust enough to support super-generic distributed 'Customer' and 'Order' objects. No, projects failed for the same reason they always had, always do, and always will -- the (mis)management of organisational complexity and requirements specificity and the inability to bridge the gap between the business and techies. Whether it was knowledge-based systems in the 80s, client/server and objects in the 90s, service-oriented architecture in the noughties or microservices today, the IT industry has always dealt in silver bullets and snake oil at the expense of hapless customers with real business needs. Indeed, not only IT, but the consulting industry in general is populated by sharks ready to separate gullible people from their money.

Part of the mess of existing systems is the failure to fully offload and a chunk of that is down to capacity/throughput failures - project x takes 10% of load off; project x uses way more resources than planned. Project x costs more to run than the mainframe it is supposed to replace. Project x is quietly shelved at just 10%. 5 years later, there are two legacy system... repeat and rinse for 35 years...

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 Post subject: Re: What's with the tech sector?
PostPosted: Mon May 15, 2017 10:58 am 
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Joined: Jun 17, 2008
Posts: 34
http://www.irishtimes.com/business/fina ... -1.3082595

Quote:
Mr Kenny said JP Morgan’s impression is that some jobs can be “filled by people moving from other countries” because Ireland has a “very flexible immigration policy”.


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 Post subject: Re: What's with the tech sector?
PostPosted: Fri May 04, 2018 9:18 am 
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Joined: Feb 21, 2008
Posts: 4418
jmc wrote:
A blast from the past..

Its our old friends at Autonomy and their multi-bllion dollar fraud...

http://www.reuters.com/article/us-autonomy-hp-crime-idUSKBN1362FK

A Federal fraud indictment..

Quote:
The former chief financial officer of British software company Autonomy has been indicted on U.S. charges of engaging in a fraudulent scheme to deceive investors and Hewlett Packard (HPE.N) about his firm's performance before its sale in 2011.

Sushovan Hussain, a UK resident who was Autonomy's CFO at the time of its $11 billion acquisition by HP, was charged in an indictment filed on Thursday in federal court in San Francisco with conspiracy and wire fraud.

The indictment alleged that beginning in October 2009, Hussain and others sought to deceive Autonomy's investors and HP about the company's performance, financial condition and prospects for growth.

The scheme had several objectives, the indictment said, including to artificially increase and maintain Autonomy's share price to make the company attractive to potential buyers like HP.



Some context...from almost exactly 5 years ago in Oct, 2011...

jmc wrote:
flash wrote:
slasher wrote:
yeah, because Ellison is a trustworthy individual with no agenda and no axe to grind with HP

:roll:


+1000

If jmc can't see what's going on here, I'm sure not going to spell it out for him.

I wonder if he'll have the grace to congratulate me when the deal goes through?


Eh... surprise, surprise..Autonomy was being shopped around hard before they found a sucker to bite. Lynch spouts off in public and Oracle slaps him down with the sales spiel from earlier in the year. So why did Lynch feel the need to say in public they were not being shopped? Deal falling apart?

Ellison is a complete bastard. But a bastard one could do business with if you have your shit together. If not, expect to be utterly destroyed with no quarter given.

I'll take a salesman killing machine over a blowhard spoofer any day. Turns out Lynch is another Kevin O'Leary after all.

Come back in 5 years time and we'll talk about who was right or wrong. That's how long it generally takes situations like this to fully play out. Lots of precedent. You'd know that if you actually knew the history of the business. But with Apotheker gone and no real support for the deal inside HP expect the lawsuits to start sooner rather than later. And they tend to run for years and years. Got to give those lawyers something to do.

If I were Lynch I'd be worried that manipulation of stock price by fraud opens him up to a RICO. It does not matter where the stock was traded if it involve US domiciled subsidiaries. It just needs one Fed DA to get interested in the subject and pretty soon Lynch may find himself behind bars. Just ask Michael Milken how those RICO lawsuits play out. Very nasty beasts.


Quote:
Autonomy ex-CFO Hussain guilty of fraud:
He cooked the books amid $11bn HP gobble
Brit exec Sushovan to cough up $8m after US jury convicts him



https://www.theregister.co.uk/2018/04/30/autonomy_cfo_sushovan_hussain_guilty/

Quote:
The former chief financial officer of British software shop Autonomy was today found guilty of fraud – after helping convince HP to splash out $11bn for the upstart back in 2011.

HP later had to write down $8.8bn when it realized what it had acquired was worth nowhere near the large pile of dosh it had stumped up.

Sushovan Hussain was Autonomy's top beancounter from 2001 to November 2011, and was a key player in the massive takeover, which boosted his personal wealth by $7.7m, according to court documents [PDF]. But when HP's investigators later went over Autonomy's books, they found the firm's value had been staggeringly inflated, forcing HP to write off billions of dollars a year after the ill-fated acquisition.


Quote:
Meanwhile, HPE is seeking damages of $5.1bn against Hussain and Autonomy cofounder and ex-CEO Mike Lynch in the High Court in London, England, alleging they engaged in fraudulent activities while executives at Autonomy. Lynch is countersuing HP, alleging the firm slandered his name, and is seeking $160m in damages. Both cases are due to appear before the High Court this year


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 Post subject: Re: What's with the tech sector?
PostPosted: Fri Nov 30, 2018 2:17 pm 
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Joined: Jan 31, 2007
Posts: 372
Location: Middle Earth
https://www.theregister.co.uk/2018/11/3 ... ud_charge/

How long after the event?


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