Norrsken22 general partner Lexi Novitske on Chinese AI, OPay and PalmPay, the US investor retreat and where African tech exits will come from.
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Friendly fraud, where a real customer disputes a legitimate charge, accounts for around 20 to 30% of fraudulent disputes per Visa and 75% of online fraud per Mastercard. Winning disputes requires logging IP address, device ID, account ID and shipping address at checkout and keeping them for at least 13 months. Visa's CE3.0 rules require two undisputed prior purchases on the same card from 120 to 365 days earlier sharing data points, while Mastercard's First-Party Trust needs device, delivery and identity factors and a lookup service responding within 2.5 seconds. The piece walks through Node.js code for checkout logging, risk scoring, a pre-fulfillment hold gate, pre-dispute order lookup endpoints, webhook-driven refunds and evidence automation, plus a comparison of building in-house versus using tools like Stripe Smart Disputes or Chargeflow.
Large language models remain far less efficient than biological brains at learning, representing knowledge, and planning, the post argues. A child hears roughly one token per second, reaching a billion tokens only after 31 years, while GPT-4-class models reportedly use four orders of magnitude more data. The Phi model series, trained on 10 trillion tokens, still trails GPT-4 along most axes. A Portia spider plans prey-catching behavior with a brain a million times smaller than a human's, and squirrels recall cached food after months, suggesting that existing models may be far less representationally and memory efficient.
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