Why the Great Glitch of July 8th Should Scare You
Zeynep Tufekci

I have some experience of working in IT in the financial sector, and from what I’ve seen, IT is nothing more than a cost to the people in charge, it’s never an opportunity. The result is a race to the bottom where firms try to get away with IT systems that are only slightly less crappy than that of their competitors.

Indeed — I get the distinct impression that the whole of modern finance (not just its technological aspects) is based upon the principle of ‘not being the chump holding all the cards at the end of the game’. Thus management are pretty much destined to do the bare minimum for minimal cost, plus take the biggest risks possible, and step as close to the line of illegality as they can, if not right over it. And then once big bucks have been made fast, they get out quick in the hope that they’re well clear of the building when it collapses. The top people at the firm I worked at did precisely that, in fact.

So this article is pretty much on the money: start hoarding tinned goods. :)

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