Why do large non-profit endowments, like the Whitney Museum of Art, yield terrible returns? A scrapped portion of a study on the success of funds previously suggested that funds geographically closer to Wall Street performed worse than average, which Clark Filio speculates may be because of greed and recklessness. Since the money used by non-profit board members didn’t come from their own pockets, he thinks they’re more likely to spend it on risky financial products peddled by Wall Street fund managers.
Read full article here
An artificial intelligence model built by Ishanu Chattopadhyay and his colleagues analysed crime data in Chicago from 2014 to 2016 and managed to predict future levels of crime down to the nearest 300 metres, a week before they actually happened. While extremely useful, this artificial intelligence has been shown to expose racial prejudice in law enforcement. Hopefully, as the study’s data and methodology have been made available for others to evaluate, these prejudices can be avoided in the next iteration. Read full article here