Latest news with #JamesFlynn
New York Post
3 days ago
- General
- New York Post
New Yorkers argue over where Upstate begins — but fuming Westchester residents say ‘not here'
It's an 'Up' setting debate for suburbanites. New Yorkers have argued over where 'Upstate' begins for decades – with Westchester County residents notoriously thin-skinned about being told they're on the 'up' side of the invisible border. The Post recently visited the Westchester city of Yonkers at the edge of the Bronx, hunting for the long-elusive line of demarcation and asking locals and passersby if this is the spot where Upstate begins. Advertisement 4 East-facing view of McLean Ave. Tomas E. Gaston 'It's not,' declared 33-year-old Yonkers resident Reaghan Giannello as she walked along McLean Avenue. 'Bronx is one street over. Depending on where I am in my apartment, my GPS says New York City or Yonkers,' the recreational therapist added. 'Spend a minute talking to us, we sound like we're from the Bronx. Upstate they say things differently. We're not in the city, but we're close enough. We don't have cows.' While many Gotham residents have long labeled anything beyond Yankee Stadium and the reaches of the subway 'upstate,' Giannello was among the numerous suburbanites to snap back at that suggestion – while offering other questionable spots for the designation. Advertisement She claimed Dutchess County – a roughly 100-mile trip from Midtown Manhattan – had upstate vibes. 'That's where you're starting to get cows and horses. We have street lights here, that's how you know you're not in the country yet,' she said. McKeon's Bar and Restaurant bartender James Flynn said once a traveler reaches the state capital, Albany, they're downstate. Advertisement 'This is not upstate. Bronx is right there,' he said as he gestured across the street. 'The 4 train comes here, the Metro North.' The owner of Angelo's Pizza in Yonkers was even more blunt. 'You can call it anything you want, but it's not upstate,' Steve Ugrinag, 65, said. 4 Steve Ugrinag, 65, owner of Angelo's Pizza on McLean Ave in Yonkers Khristina Narizhnaya/NY Post Advertisement Mili Diaz, a floral assistant and Blossom Flowers in Yonkers admitted when she used to live in the Big Apple, she dubbed anything north of Inwood upstate. 'I think it was just like crossing the bridge to me was like, you know, just another world,' Diaz argued. 'Anything like past Inwood felt like really, really far, but it's not.' Now, she thinks anything past White Plains – a mere 15 miles from Yonkers and also in Westchester – is upstate. 4 McKeon's Bar and Restaurant bartender James Flynn said once a traveler reaches the state capital, Albany, they're downstate. Tomas E. Gaston 'The area I go to my vet, my vet is in Bedford Hills, it's all green, like it's the feeling of it, the vibe is so different,' she explained. A White Plains native turned Florida-based rapper LYPHE even made a rap about people calling Westchester upstate more than a decade ago as part of a magazine interview. 'Upstate is the place where you see, all the farms with cows like Albany,' part of the rhymes goes. 'You comparing who? Where we choose to share the views. We can see the skyline in our backyard we not scary dudes from Syracuse.' The rapper, 47, who once lived in Yonkers, called it offensive to suggest anywhere in Westchester is upstate. Advertisement 'It's the stigma that anyone born or raised outside the New York City border can't be classified as a true New Yorker,' he insisted. 4 A White Plains native turned Florida-based rapper LYPHE even made a rap about people calling Westchester upstate more than a decade ago as part of a magazine interview. Khristina Narizhnaya/ NY Post 'The idea that we don't have the same experience, the same credo, the same grit because we don't reside in a borough is comical.' Jon Chattman, founder of events and music series A-Sides, said the recipe for upstate is lots of trees, mountains and no cell service. Advertisement 'Oh, and when there's more than a half hour between exits,' said Chattman, who is also content and outreach director at the Westchester Parks Foundation. He called the idea that only the city and Long Island is downstate 'ridiculous.' 'I mean I know you can walk 70 blocks in Manhattan in a half hour but that doesn't mean a car ride or train ride in under an hour is the boondocks or Lake George,' Chattman said. 'Speaking of which, Lake George is definitely upstate.'
Yahoo
15-05-2025
- Science
- Yahoo
‘Don't ask what AI can do for us, ask what it is doing to us': are ChatGPT and co harming human intelligence?
Imagine for a moment you are a child in 1941, sitting the common entrance exam for public schools with nothing but a pencil and paper. You read the following: 'Write, for no more than a quarter of an hour, about a British author.' Today, most of us wouldn't need 15 minutes to ponder such a question. We'd get the answer instantly by turning to AI tools such as Google Gemini, ChatGPT or Siri. Offloading cognitive effort to artificial intelligence has become second nature, but with mounting evidence that human intelligence is declining, some experts fear this impulse is driving the trend. Of course, this isn't the first time that new technology has raised concerns. Studies already show how mobile phones distract us, social media damages our fragile attention spans and GPS has rendered our navigational abilities obsolete. Now, here comes an AI co-pilot to relieve us of our most cognitively demanding tasks – from handling tax returns to providing therapy and even telling us how to think. Where does that leave our brains? Free to engage in more substantive pursuits or wither on the vine as we outsource our thinking to faceless algorithms? 'The greatest worry in these times of generative AI is not that it may compromise human creativity or intelligence,' says psychologist Robert Sternberg at Cornell University, who is known for his groundbreaking work on intelligence, 'but that it already has.' The argument that we are becoming less intelligent draws from several studies. Some of the most compelling are those that examine the Flynn effect – the observed increase in IQ over successive generations throughout the world since at least 1930, attributed to environmental factors rather than genetic changes. But in recent decades, the Flynn effect has slowed or even reversed. In the UK, James Flynn himself showed that the average IQ of a 14-year-old dropped by more than two points between 1980 and 2008. Meanwhile, global study the Programme for International Student Assessment (PISA) shows an unprecedented drop in maths, reading and science scores across many regions, with young people also showing poorer attention spans and weaker critical thinking. Related: James Flynn: IQ may go up as well as down Nevertheless, while these trends are empirical and statistically robust, their interpretations are anything but. 'Everyone wants to point the finger at AI as the boogeyman, but that should be avoided,' says Elizabeth Dworak, at Northwestern University Feinberg School of Medicine, Chicago, who recently identified hints of a reversal of the Flynn effect in a large sample of the US population tested between 2006 and 2018. Intelligence is far more complicated than that, and probably shaped by many variables – micronutrients such as iodine are known to affect brain development and intellectual abilities, likewise changes in prenatal care, number of years in education, pollution, pandemics and technology all influence IQ, making it difficult to isolate the impact of a single factor. 'We don't act in a vacuum, and we can't point to one thing and say, 'That's it,'' says Dworak. Still, while AI's impact on overall intelligence is challenging to quantify (at least in the short term), concerns about cognitive offloading diminishing specific cognitive skills are valid – and measurable. Studies have suggested that the use of AI for memory-related tasks may lead to a decline in an individual's own memory capacity When considering AI's impact on our brains, most studies focus on generative AI (GenAI) – the tool that has allowed us to offload more cognitive effort than ever before. Anyone who owns a phone or a computer can access almost any answer, write any essay or computer code, produce art or photography – all in an instant. There have been thousands of articles written about the many ways in which GenAI has the potential to improve our lives, through increased revenues, job satisfaction and scientific progress, to name a few. In 2023, Goldman Sachs estimated that GenAI could boost annual global GDP by 7% over a 10-year period – an increase of roughly $7tn. The fear comes, however, from the fact that automating these tasks deprives us of the opportunity to practise those skills ourselves, weakening the neural architecture that supports them. Just as neglecting our physical workouts leads to muscle deterioration, outsourcing cognitive effort atrophies neural pathways. One of our most vital cognitive skills at risk is critical thinking. Why consider what you admire about a British author when you can get ChatGPT to reflect on that for you? Research underscores these concerns. Michael Gerlich at SBS Swiss Business School in Kloten, Switzerland, tested 666 people in the UK and found a significant correlation between frequent AI use and lower critical-thinking skills – with younger participants who showed higher dependence on AI tools scoring lower in critical thinking compared with older adults. Similarly, a study by researchers at Microsoft and Carnegie Mellon University in Pittsburgh, Pennsylvania surveyed 319 people in professions that use GenAI at least once a week. While it improved their efficiency, it also inhibited critical thinking and fostered long-term overreliance on the technology, which the researchers predict could result in a diminished ability to solve problems without AI support. 'It's great to have all this information at my fingertips,' said one participant in Gerlich's study, 'but I sometimes worry that I'm not really learning or retaining anything. I rely so much on AI that I don't think I'd know how to solve certain problems without it.' Indeed, other studies have suggested that the use of AI systems for memory-related tasks may lead to a decline in an individual's own memory capacity. This erosion of critical thinking is compounded by the AI-driven algorithms that dictate what we see on social media. 'The impact of social media on critical thinking is enormous,' says Gerlich. 'To get your video seen, you have four seconds to capture someone's attention.' The result? A flood of bite-size messages that are easily digested but don't encourage critical thinking. 'It gives you information that you don't have to process any further,' says Gerlich. By being served information rather than acquiring that knowledge through cognitive effort, the ability to critically analyse the meaning, impact, ethics and accuracy of what you have learned is easily neglected in the wake of what appears to be a quick and perfect answer. 'To be critical of AI is difficult – you have to be disciplined. It is very challenging not to offload your critical thinking to these machines,' says Gerlich. Wendy Johnson, who studies intelligence at Edinburgh University, sees this in her students every day. She emphasises that it is not something she has tested empirically but believes that students are too ready to substitute independent thinking with letting the internet tell them what to do and believe. Without critical thinking, it is difficult to ensure that we consume AI-generated content wisely. It may appear credible, particularly as you become more dependent on it, but don't be fooled. A 2023 study in Science Advances showed that, compared with humans, GPT-3 chat not only produces information that is easier to understand but also more compelling disinformation. * * * Why does that matter? 'Think of a hypothetical billionaire,' says Gerlich. 'They create their own AI and they use that to influence people because they can train it in a specific way to emphasise certain politics or certain opinions. If there is trust and dependency on it, the question arises of how much it is influencing our thoughts and actions.' AI's effect on creativity is equally disconcerting. Studies show that AI tends to help individuals produce more creative ideas than they can generate alone. However, across the whole population, AI-concocted ideas are less diverse, which ultimately means fewer 'Eureka!' moments. Sternberg captures these concerns in a recent essay in the Journal of Intelligence: 'Generative AI is replicative. It can recombine and re-sort ideas, but it is not clear that it will generate the kinds of paradigm-breaking ideas the world needs to solve the serious problems that confront it, such as global climate change, pollution, violence, increasing income disparities, and creeping autocracy.' To ensure that you maintain your ability to think creatively, you might want to consider how you engage with AI – actively or passively. Research by Marko Müller from the University of Ulm in Germany shows a link between social media use and higher creativity in younger people but not in older generations. Digging into the data, he suggests this may be to do with the difference in how people who were born in the era of social media use it compared with those who came to it later in life. Younger people seem to benefit creatively from idea-sharing and collaboration, says Müller, perhaps because they're more open with what they share online compared with older users, who tend to consume it more passively. Alongside what happens while you use AI, you might spare a thought to what happens after you use it. Cognitive neuroscientist John Kounios from Drexel University in Philadelphia explains that, just like anything else that is pleasurable, our brain gets a buzz from having a sudden moment of insight, fuelled by activity in our neural reward systems. These mental rewards help us remember our world-changing ideas and also modify our immediate behaviour, making us less risk averse – this is all thought to drive further learning, creativity and opportunities. But insights generated from AI don't seem to have such a powerful effect in the brain. 'The reward system is an extremely important part of brain development, and we just don't know what the effect of using these technologies will have downstream,' says Kounios. 'Nobody's tested that yet.' There are other long-term implications to consider. Researchers have only recently discovered that learning a second language, for instance, helps delay the onset of dementia for around four years, yet in many countries, fewer students are applying for language courses. Giving up a second language in favour of AI-powered instant-translation apps might be the reason, but none of these can – so far – claim to protect your future brain health. As Sternberg warns, we need to stop asking what AI can do for us and start asking what it is doing to us. Until we know for sure, the answer, according to Gerlich, is to 'train humans to be more human again – using critical thinking, intuition – the things that computers can't yet do and where we can add real value.' We can't expect the big tech companies to help us do this, he says. No developer wants to be told their program works too well; makes it too easy for a person to find an answer. 'So it needs to start in schools,' says Gerlich. 'AI is here to stay. We have to interact with it, so we need to learn how to do that in the right way.' If we don't, we won't just make ourselves redundant, but our cognitive abilities too.
Yahoo
14-05-2025
- Business
- Yahoo
Lument Finance Trust Inc (LFT) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
GAAP Net Loss: $0.03 per share. Distributable Earnings: $0.08 per share. Quarterly Dividend: $0.08 per common share. Net Interest Income: $7.7 million, down from $9.4 million in Q4 2024. Loan Payoffs: $55 million in Q1 2025. Exit Fees: $700,000 in Q1, down from $1.1 million in Q4 2024. Total Operating Expenses: $2.6 million in Q1, compared to $2.8 million in Q4 2024. Allowance for Credit Losses: $5.7 million net increase. Specific Reserves for Credit Losses: Increased to $11.1 million as of March 31. Unrestricted Cash Balance: $64 million at the end of Q1. Total Equity: Approximately $232 million at the end of Q1. Book Value of Common Stock: $3.29 per share, down from $3.40 as of December 31. Portfolio Composition: 61 floating rate loans with an aggregate unpaid principal balance of approximately $1 billion. Portfolio Collateralization: 92% by multi-family properties. Weighted Average Note Floating Rate: SOFR plus 355 basis points. Risk Rated Loans: Seven loans risk rated five, totaling approximately $108 million. Warning! GuruFocus has detected 6 Warning Signs with LFT. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lument Finance Trust Inc (NYSE:LFT) reported distributable earnings of $0.08 per share, maintaining the quarterly dividend of $0.08 per share. The multi-family sector, which constitutes a significant portion of LFT's portfolio, continues to demonstrate resilience with robust occupancy rates. LFT has successfully executed several loan modifications and extensions, preserving value and enhancing downside protection. The company maintains a strong liquidity position with $64 million in unrestricted cash, providing flexibility for future investments. LFT is exploring new secured financing options, which are expected to provide adequate flexibility and position the company favorably in the CRE CLO market. Lument Finance Trust Inc (NYSE:LFT) reported a GAAP net loss of $0.03 per share for the first quarter of 2025. Net interest income declined to $7.7 million from $9.4 million in the previous quarter, primarily due to declines in the SOFR benchmark rate and deleveraging of secured financings. The company increased its specific reserves for credit losses by $7.3 million, reflecting challenges in the portfolio. Seven loans, representing approximately 11% of the unpaid principal balance, were risk-rated as 5, indicating significant credit risk. The total book value of common stock decreased to $3.29 per share from $3.40, driven by an increase in the allowance for credit losses. Q: Can you characterize the current pipeline and discuss if there's a level of net originations needed to maintain the current dividend capacity? A: James Flynn, CEO: The origination level is not a concern at the moment. We have assets that can be deployed into LFT when there's capacity. While recent volatility could reduce opportunities, I don't foresee it drying up completely. We are seeing attractive assets, particularly in new construction and lease-up levels, although competition is high. There's been a modest slowdown in recapitalization and bridge-to-bridge deals, but opportunities remain, especially with the anticipated turnover in the wall of maturity. Q: Are there other financing options available besides the CLO market? A: James Flynn, CEO: Yes, there are opportunities from both banks and private credit. These options offer more flexibility than traditional warehouses, such as longer asset duration and flexible terms. While the CLO market remains the most attractive for floating rate multifamily assets, we are exploring these alternatives as interim steps or potentially permanent solutions to maintain flexibility. Q: Regarding the problem loans under asset management, do you anticipate any near-term resolutions? A: James Flynn, CEO: There is potential for resolutions in the next three to six months, as we've seen in previous quarters. The key issue is sponsorship, as some sponsors lack the capital to improve assets, leading to deterioration. Our strategy involves gaining control of assets or bringing in new sponsors to improve asset conditions. As we deleverage and maintain liquidity, the number of problem assets should decline, leading to more resolutions. Q: Is the rise in non-accruals due to cash flow issues at the property level? A: James Flynn, CEO: Yes, it's a cash flow issue both at the asset and sponsor level. Lack of reinvestment leads to further cash flow deterioration and operational decline. Without control of the asset, we see continued decline unless reinvestment occurs. It's a combination of cash flow and management issues, with a correlation between asset performance and management quality. Q: Given the rise in non-accruals, do you still believe in strong fundamentals and robust demand? A: James Flynn, CEO: Yes, strong fundamentals and demand remain true in the market and on average in our portfolio. However, some sponsors have not followed through on their goals, leading to quick deterioration. We believe that with better management, these assets could perform better, and we are evaluating scenarios to improve outcomes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
23-02-2025
- Business
- Yahoo
Deerfield Management Announces Collaboration with QIA as Part of its Fund of Funds VC Program and the Opening of a Regional Office in Doha
Deerfield Management to collaborate with QIA as part of Fund of Funds venture capital program Regional office set to open in Doha in mid-2025 Activities to include upskilling local entrepreneurs and fostering the Qatari innovation ecosystem via a healthcare startup accelerator DOHA, Qatar and NEW YORK, Feb. 23, 2025 /PRNewswire/ -- Deerfield Management today announced a collaboration with Qatar Investment Authority (QIA) as part of QIA's Fund of Funds program. The partnership unites Deerfield's mission of advancing healthcare with QIA's commitment to sustaining a vibrant startup ecosystem in Qatar and the wider MENA region. QIA's inaugural Fund of Funds venture capital program was launched in 2024 with a primary focus on technology and healthcare amongst other fast-growing sectors. The initiative is intended to boost economic diversification, support local development, and bring global best practices and capabilities to Qatar. In support of this program, Deerfield is set to open a regional office in Doha by mid-2025. The office will seek to support the upskilling of local startups and entrepreneurs, coordinate educational programs, and serve as a resource hub for healthcare-focused ventures in the region. The partnership will foster international collaboration and champion technological creativity. Deerfield, through the Cure, will additionally direct a healthcare startup accelerator program in which a cohort of global and local entrepreneurs will work to sharpen their understanding of business and financial modeling; learn to conduct and analyze market research; advance the development and design of healthcare products; practice delivering effective investor presentations; and more. The accelerator program will take place both virtually and on the ground in Doha and will culminate in a pitch competition wherein entrepreneurs have the opportunity to showcase their ideas to interested stakeholders. "Qatar's rich cultural and economic environment makes the State a fertile environment for businesses to grow," said James Flynn, Managing Partner at Deerfield. "In partnering with QIA, we hope to support local entrepreneurs and help a sustainable healthcare and life science ecosystem thrive." News of the partnership was announced at the 2025 Web Summit Qatar, an international gathering connecting thousands of entrepreneurs in the Middle East and beyond to investors, journalists, and technology professionals around the world. About Deerfield Management Deerfield is an investment management firm committed to advancing healthcare through investment, information, and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas, and technology in bold, collaborative, and inclusive ways. For more information, please visit About QIA QIA is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar. About QIA's Fund of Funds Program The Fund of Funds program aims to develop a strong startup and venture capital ecosystem in Qatar, attract venture capital firms and entrepreneurs to the region, and help close the current funding gap for local and regional entrepreneurs. The program, first announced in February 2024, will place a priority focus on the tech and healthcare sectors. The Fund of Funds program has a mandate that includes delivering a positive development impact on the Qatari venture capital ecosystem. Media Contact Deerfield Management: Jessica Sagers, PhD, Head of Communications, jsagers@ Qatar Investment Authority: media@ View original content to download multimedia: SOURCE Deerfield Management Company, L.P. Sign in to access your portfolio
