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  #3461  
Old Posted Sep 1, 2020, 1:41 PM
marothisu marothisu is offline
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I agree about the points about Chicago in general.

However, people need to come back down to earth regarding quantum computing - which involves knowing what it is and what it is not.We are essentially in the 1950s or 1960s right now in this subject. That doesn't mean it's going to take a few decades to see a commercial viable product necessarily, considering our overall scientific and technological level is much higher right now than the 50s or 60s.

At the same time though, again - quantum computing works completely differently than classical computers (the ones we use now) down to what the smallest units are (qubits vs. classical cbits), a completely different set of logic gates not like the current ones, the fact that linear algebra is the "language" of quantum computing now and isn't for classical computing and after all that, how to actually create algorithms at this point in the game is completely different than 99% of programmers out there are used to right now. It's not the same and most people in the software industry are not capable of learning such change right now rapidly (especially those without a proper understanding of computer science or computer engineering, as well as linear algebra).

There are still a ton of hurdles to get through even if that weren't the case - such as error correction and qubit stability (especially in the face of small levels of background cosmic radiation), which will prevent any of this from having commercial applications made for awhile until they (and other issues) are figured out. Without these things - don't get your hopes up.

And although "computing" is attached to this, again - this is not even close to comparable to someone releasing a new framework and a bunch of people learning it within a month. It is a completely new way of thinking and a completely new way of actually making things work.
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  #3462  
Old Posted Sep 1, 2020, 8:52 PM
OrdoSeclorum OrdoSeclorum is offline
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I agree about the points about Chicago in general.

However, people need to come back down to earth regarding quantum computing -
And although "computing" is attached to this, again - this is not even close to comparable to someone releasing a new framework and a bunch of people learning it within a month. It is a completely new way of thinking and a completely new way of actually making things work.
With UIUC, perhaps a new technology institute, Argonne, Fermi, and Chicago all being supercomputing and quantum computing powerhouses, there's a real chance that some startup will form here and get sold for parts before it's big enough. Or that talent will ripen and fall off the quantum computing tree and just about every piece of fruit will get delivered to San Jose.

I'm not sure what else Chicago should do, working on being livable and business friendly.

On the other hand, it's possible that quantum computing will become very important very fast while also being weird enough that organizations will need to remain close to the innovation centers producing these specific talents. If that's the case, there's a chance that enough enough clustering could happen early that would make Chicago hard to displace. I wouldn't bet a ton of money on it, but it's not so unlikely as to be a pipe dream.
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  #3463  
Old Posted Sep 1, 2020, 11:35 PM
marothisu marothisu is offline
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Originally Posted by OrdoSeclorum View Post
With UIUC, perhaps a new technology institute, Argonne, Fermi, and Chicago all being supercomputing and quantum computing powerhouses, there's a real chance that some startup will form here and get sold for parts before it's big enough. Or that talent will ripen and fall off the quantum computing tree and just about every piece of fruit will get delivered to San Jose.

I'm not sure what else Chicago should do, working on being livable and business friendly.

On the other hand, it's possible that quantum computing will become very important very fast while also being weird enough that organizations will need to remain close to the innovation centers producing these specific talents. If that's the case, there's a chance that enough enough clustering could happen early that would make Chicago hard to displace. I wouldn't bet a ton of money on it, but it's not so unlikely as to be a pipe dream.
At the end of the day, I think the important thing to do is understand what quantum computing is and what it is not, and why it is different than today. As well as the issues facing quantum computing even before it can be made consumer friendly. I did a little of that but there's many resources out there. It's a new paradigm completely and I believe that a lot of people who just read pop science articles do not understand this, and are having the wrong idea completely. It's a long road ahead, but a potentially exciting one.

If you think back to why Silicon Valley "formed" a long time ago, it's not necessarily because people wanted to be there because of the livability, weather, etc. It is because there was some engineering talent there already, but first and foremost the companies formed near the major research institutions. A lot of companies were formed directly out of universities like Stanford or alumni still nearby. People were focused on making things work, not making boat loads of money. That followed a bit later.

If researchers can have various breakthroughs in this field and eventually over the years have enough breakthroughs to make it something you and I could have in our homes for cheap, then that will come too. I highly doubt that's going to be in the next 15 years though. My guess is sometime in the mid 2030s or 2040s, but we'll see. By that time, again if the breakthroughs happen, then who knows. Google has already claimed quantum supremacy which is great on paper and great for a lot of things, but solving some of the issues like quantum error correction would have been 100X more impressive IMO. IBM claims they will have something within a year or two on the error correction front which I'm excited to see, especially considering people have predicted it taking 100-200 qubits to even pull off. By comparison, Google's Sycamore is 54 Qubits and IBM's is 53.

Bay Area is poised to be a major player because of Google and some national labs obviously and Chicago has a ton going for it too with national labs and universities. I think Bay Area, Chicago, and NYC area are poised to become the leaders in this in the US, as they already are.

Say this happens in 20 years, who knows how investors will be and what state we'll be in. It's pretty far in the future. I think again people need to get a reality check and understand how far of a road is ahead before we can start talking about VCs funding companies for this. Maybe in the next decade for more industrial applications but still a long ways off before we hit the stage where it is available to normal people like us.
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  #3464  
Old Posted Sep 2, 2020, 11:27 AM
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I watched some of News Nation last night and it’s definitely got potential. It’s authentic and you can see there is a strong push to keep things down the middle and as impartial as possible. I hope it’s a success—would be nice to have a major national news network based in Chicago (both for Chicago and for the nation at large)
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  #3465  
Old Posted Sep 2, 2020, 3:29 PM
OrdoSeclorum OrdoSeclorum is offline
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Originally Posted by marothisu View Post
If researchers can have various breakthroughs in this field and eventually over the years have enough breakthroughs to make it something you and I could have in our homes for cheap, then that will come too. I highly doubt that's going to be in the next 15 years though. My guess is sometime in the mid 2030s or 2040s, but we'll see. By that time, again if the breakthroughs happen, then who knows. Google has already claimed quantum supremacy which is great on paper and great for a lot of things, but solving some of the issues like quantum error correction would have been 100X more impressive IMO. IBM claims they will have something within a year or two on the error correction front which I'm excited to see, especially considering people have predicted it taking 100-200 qubits to even pull off. By comparison, Google's Sycamore is 54 Qubits and IBM's is 53.

.
I'm not a computer scientist. And at risk of getting off track, I think the medium term upside for quantum computing is that neural nets become incredibly important for things other than search and that deep, quantum machine learning becomes important for that. In this scenario, we wouldn't have quantum-chips in our PCs like we have video cards, but everything from search, to payment processing to super-autocomplete to medical diagnoses to military image analysis to PC gaming to self driving vehicles to logistics operations to Turing-compliant virtual telephone support is run through something like Amazon Web Services, and quantum computers are an essential component.

In a world where you don't need paralegals, taxi-drivers, radiologists or phone bank operators, there's an easy trillion dollars on the floor just waiting to be picked up. I'm very confident that this is the future and that quantum computers will be part of it; I just don't know if it's 7 years away or 20 years away and whether or not Chicago's institutional advantages means we can keep more than our share of the growth.
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  #3466  
Old Posted Sep 3, 2020, 1:04 AM
marothisu marothisu is offline
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Originally Posted by OrdoSeclorum View Post
I'm not a computer scientist. And at risk of getting off track, I think the medium term upside for quantum computing is that neural nets become incredibly important for things other than search and that deep, quantum machine learning becomes important for that. In this scenario, we wouldn't have quantum-chips in our PCs like we have video cards, but everything from search, to payment processing to super-autocomplete to medical diagnoses to military image analysis to PC gaming to self driving vehicles to logistics operations to Turing-compliant virtual telephone support is run through something like Amazon Web Services, and quantum computers are an essential component.

In a world where you don't need paralegals, taxi-drivers, radiologists or phone bank operators, there's an easy trillion dollars on the floor just waiting to be picked up. I'm very confident that this is the future and that quantum computers will be part of it; I just don't know if it's 7 years away or 20 years away and whether or not Chicago's institutional advantages means we can keep more than our share of the growth.
There is no doubt that quantum computers could become very important. Really had nothing to do with what I was saying. When these computers do become more viable and the creation/optimization of various algorithms becomes more advanced there's no doubt it'll only be for institutions with a lot of money to spare.

But again, there's a lot of issues to solve first that will prevent us from getting there. You can read more about some of them here:

https://www.sciencemag.org/news/2020...ntum-computing

https://www.quantamagazine.org/gil-k...ters-20180207/

https://news.mit.edu/2020/cosmic-ray...computing-0826

There is a lot going on in the space and people hope to have these up and running but really the first article is one of those things that must be figured out in a way that is physically possible before we can even talk about institutions shelling out $500M for a future quantum computer to do whatever. Also, I hope that Gil Kalai is wrong - we'll see, but for as much optimism that people have, there needs to be a dose of realism too amongst the general public. Exciting times though - but I'd wager that it's more like 20+ years away, not 7 years away until we get past a lot of things. This is the dawn of everything here really as far as physical implementation goes. For as much buzz as something like Shor's algorithm has generated in circles, the biggest number it's factored is only 21 (7*3) on a quantum computer. The previous number 15 (5*3) was literally hard wired to make it work for that too, so - a long way to go all around really.
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  #3467  
Old Posted Sep 6, 2020, 12:39 PM
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  #3468  
Old Posted Sep 6, 2020, 6:26 PM
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Paywall; would anyone be willing and able to actually post the article?
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  #3469  
Old Posted Sep 7, 2020, 12:21 AM
marothisu marothisu is offline
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Paywall; would anyone be willing and able to actually post the article?
I'll quote the interesting tidbits

Quote:
In the 60601 ZIP code, which covers Lakeshore East and the northern part of the Loop, there are enough homes on the market to fuel 15 months of sales. Immediately across the Chicago River in 60611, which is Streeterville up to Oak Street Beach, there's 11.5 months' worth of inventory on the market. And there's a little more than eight months' inventory in 60610 (Near North, Gold Coast) and 60654 (River North).

That's compared to 3.1 months of inventory on the market now citywide. And, Rodkin notes, four to six months of inventory is generally considered a balanced, healthy market.

"Since the second round of looting, it's been like the Hoover Dam broke and the water is gushing through," one local broker told Rodkin. "My phone does not stop ringing with people who say they love Chicago but they've had enough."

Similarly, Crain's Alby Gallun reports in this week's issue that apartment dwellers are also voting with their feet. The downtown apartment occupancy rate was down to 89.2 percent in the second quarter, its lowest level since 2002. Some tenants are fed up with the violence and mayhem that has resulted in boarded-up storefronts and made them uneasy. Others who now work from home due to the coronavirus pandemic are no longer willing to pay sky-high rents to live near an office that's closed, or in a once-vibrant central business district that's suddenly sleepy.

"The Loop's like a ghost town," says one renter who has decamped for his second home in Tampa, Fla.

Suburban landlords, meanwhile, are doing OK. The suburban occupancy rate has edged lower, to 95.1 percent from 95.3 percent in second-quarter 2019, Gallun reports, but the median net rent has risen 1.6 percent.

There was an article a few days before talking about the apartment glut. However, one broker said it was mainly from investors who don't actually live in Chicago but rent their condos out. IIRC they also stated that areas like West Loop are doing better in terms of this glut than Loop, River North, etc. Here in NYC there's a ton of of vacant apartments - basically a new record for most. At least in July in Manhattan the vacancy rate was the highest in nearly 15 years. It's an interesting time for cities - there's multiple co-workers of mine here in NYC who just question why they are here anymore. Most of them actually said they'd move to Chicago if they could for lower rent and taxes, and similar amenities.

The 2019 ACS from the Census comes out next week and while I'm excited, it might be off from what we'll know from this year.
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  #3470  
Old Posted Sep 7, 2020, 2:35 AM
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Yeah, I'm in the process of (hopefully) buying a condo in the loop right now and have seen a bunch of places. Mostly second homes or investment properties. You can tell by seeing if they got their homeowner's exemption.

Downtown rental vacancies are for sure up (I know because I'm now trying to sublet out the rest of my lease), but I think this is partially driven by some of the downtown campuses going remote-only.
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  #3471  
Old Posted Sep 10, 2020, 1:02 PM
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^^^^^^

While walking to work in Hyde Park, I have noticed that there are 1 to 2 cars on every block with New York license plates. I do not recall this many New York license plates before the pandemic.

NPR's take on Chicago's real estate market:

"[...]

ENG: All of this has led to speculation that cities like Chicago would empty out as residents fled for the suburbs. Across the country, this narrative was so prevalent that online realty site Zillow dug into the data.

CHERYL YOUNG: We really found that suburban markets aren't any stronger than urban markets.

ENG: That's Zillow economist Cheryl Young.

YOUNG: So that doesn't really support this theory that people are fleeing cities en masse and going to greener pastures or suburban markets.

ENG: Still, her data only goes through July. And there are two big exceptions to this trend - Manhattan and downtown San Francisco, where people are moving out. But Young says that was already happening before the pandemic.

In Chicago, some realty indicators do show more downtown condos for sale than usual. But overall, the Chicago Association of Realtors says it does not see a significant rise in listings yet, maybe because many people here seem to be taking the situation in stride. And some are even embracing the change, like fewer commuters and tourists. Lily Moy lives on the city's main shopping strip, the Magnificent Mile.

[...]"

Source.
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  #3472  
Old Posted Sep 11, 2020, 3:14 AM
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According to the Census, they estimate 7307 people from the NYC metro area moved to the Chicago metro area in 2018.
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  #3473  
Old Posted Sep 11, 2020, 3:57 AM
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Anecdotally, I know a lot of New York finance types go to UChicago for business or economics. I don't know why there would be more this year than in previous years, though.
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  #3474  
Old Posted Sep 11, 2020, 4:39 PM
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This is probably a multi-year recovery no matter when the vaccine appears, IF crime can be reeled in. Another major looting episode here and a lot of these stores are not reopening
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  #3475  
Old Posted Sep 11, 2020, 6:01 PM
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interesting

https://www.wsj.com/articles/nyse-si...omments_sector

NYSE Signals It Will Exit New Jersey if State Taxes Stock Trades

New York Stock Exchange will temporarily run one exchange from Chicago to show its readiness to move

The Wall Street Journal ^ | 11 Sept 2020 | Alexander Osipovich and Joseph De Avila




The New York Stock Exchange is signaling that it will move its electronic trading systems out of New Jersey if the state implements a proposed tax on financial transactions.

The NYSE plans to announce that it will run one of its exchanges from a backup site in Chicago for a week as a demonstration of its readiness to quit the state, according to an internal memo seen by The Wall Street Journal.

Like many other exchange operators, the NYSE runs its electronic trading systems out of data centers in northern New Jersey. Such market operators have been concerned about a bill in the New Jersey legislature that would impose a tax on firms that process large quantities of trades in the state.

New Jersey Gov. Phil Murphy, a Democrat, supports the tax proposal.

“We take this notion of taxing or some sort of toll on the high-frequency trading very seriously,” Mr. Murphy, a former executive with Goldman Sachs Group Inc., said during a news conference late last month. “It’s something we’re looking at with a great deal of interest.”

The NYSE memo linked to a news article about Gov. Murphy’s comments. In the memo, NYSE Chief Operating Officer Michael Blaugrund said the exchange operator could quickly relocate its systems to another state if the tax passed.

...
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  #3476  
Old Posted Sep 11, 2020, 11:14 PM
marothisu marothisu is offline
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^ Very interesting. We'll see what happens there...


In some semi interesting news, it turns out that Lukas Walton, grandson of the Waltons who founded Wal Mart, has been living in Chicago at least in some capacity for nearly a decade. He's worth over $20B which means he's really the richest person in Illinois officially. Apparently he's been working in various capacities in a way in which many people didn't even know he was really living in Chicago.
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  #3477  
Old Posted Sep 12, 2020, 2:56 AM
Chi-Sky21 Chi-Sky21 is offline
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^ Very interesting. We'll see what happens there...


In some semi interesting news, it turns out that Lukas Walton, grandson of the Waltons who founded Wal Mart, has been living in Chicago at least in some capacity for nearly a decade. He's worth over $20B which means he's really the richest person in Illinois officially. Apparently he's been working in various capacities in a way in which many people didn't even know he was really living in Chicago.
Unless he donates everything anonymously this depresses me..... that we have someone with 20 billion in worth in our city and have no clue. Not doing much civically is he? All good though...i am sure his yacht and residence employ plenty and it will all trickle down on us sooner or later.
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  #3478  
Old Posted Sep 12, 2020, 4:01 AM
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WBEZ has a less alarmist article than the Trib or Crain's:

https://www.wbez.org/stories/downtow...7-3975ec93b46d
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  #3479  
Old Posted Sep 12, 2020, 1:27 PM
marothisu marothisu is offline
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Unless he donates everything anonymously this depresses me..... that we have someone with 20 billion in worth in our city and have no clue. Not doing much civically is he? All good though...i am sure his yacht and residence employ plenty and it will all trickle down on us sooner or later.
He apparently on purpose tries to stay extremely low profile to the point of him on purpose not even telling the people who he works with who he actually is. I don't get the idea at all that he's on a yacht. He invests his time and money in eco-friendly businesses and environmental types of causes. His college degree is related to this.

The following organization looks to be pretty new but I've found they've helped donate already in the millions of dollars to organizations like United Way in Chicago as well as helping with funds such as Chicago Region Food System Fund (https://investigatemidwest.org/2020/...-relief-funds/) and Austin Fresh (https://www.lumpkinfoundation.org/fo.../Austin-Fresh-)


https://www.chicagobusiness.com/nonp...ot-ken-griffin

Quote:
The wealthiest Illinoisan isn't a Pritzker or a Crown—or even Ken Griffin—but a low-profile philanthropist with a high-profile name: Lukas Walton, grandson and heir of Walmart founder Sam Walton.

At 34, Walton has been on the Chicago scene for almost a decade but intentionally under the radar, first in private equity and now heading his own foundation called the Builders Initiative.

He recently hired a proven foundation executive to run Builders Initiative, aiming to sync its investment goals with those of his other interests, including S2G Ventures, the ag-tech venture-capital firm started by OpenTable founder Chuck Templeton.

Regulatory filings show Walton donated some $440 million in Walmart stock to the foundation between September 2017 and November 2018.

S2G has invested in Beyond Meat, Sweetgreen, etc. Most of the news I can find on Builders Initiative is from this year and in Chicago. I'm guessing we'll hear more from them coming up, maybe quietly though. Sounds like they have a lot of money behind them.
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  #3480  
Old Posted Sep 12, 2020, 1:30 PM
Chi-Sky21 Chi-Sky21 is offline
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Good to see him trying to make a difference .....or i guess i should say good to not see...
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