alt Hacker NewsAnd I'm sure Galileo didn't like the idea of geocentrinism either for irrational reasons. Seriously, good enough telescopes havent been made yet and he's all confident etc. etc.
But Galileo was still had a useful framework for his criticisms despite all of his faults.
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I see Ed Zitron in virtually the same spot. Especially now that the SPVs thing is publicly confirmed by 3rd parties. I agree he made a bunch of shitty arguments over the years but Ed Zitron has seemingly stumbled upon something true and worth investigating now
The SPV thing has been known for months though; here's Matt Levine talking about it in his inimitable way last October: https://www.bloomberg.com/opinion/newsletters/2025-10-29/put... (https://archive.md/A40Fv)
Maybe what's become more public is the scale of these SPVs, but Matt Levine's writing makes it seem like a sensible thing to do given the $$$ amounts involved.