Latest news with #bigdata
Irish Times
3 days ago
- Entertainment
- Irish Times
The Irish syndicate that beat the Lotto: ‘It wasn't complicated to organise'
'I was sitting beside a guy at the wedding of a friend, and I was asking about what he did,' Ross Whitaker tells me. 'I'm always thinking, Is there a documentary here? Ha ha!' It transpired that the other guest worked in 'big data'. He didn't think there was much for Whitaker there. 'No, it's not very interesting, Ross,' the chap deflected. 'But do you remember the story of the time the syndicate tried to buy all the numbers in the lottery? You should do a documentary about that.' Whitaker, director of such fine films as Katie and Between Land and Sea , describes a 'media light bulb going off'. Like most of us who remember 1992, he had a vague grasp of the facts. But reports at the time were sketchy. Did they get away with it? READ MORE All is now answered in Whitaker's Beat the Lotto. It is a fascinating yarn – packed full of oddballs and geniuses – that works up to the most gripping denouement of the season. At its heart is a charming, articulate Cork man named Stefan Klincewicz. It was he who devised the plan to buy up every number for a bank-holiday draw that would, despite the enormous outlay, still (almost) guarantee significant profit. Without Klincewicz, Whitaker would not have a film. Yet one could easily understand if he didn't want to revisit the controversy. 'Controversy? I never really thought about it. Because, for me at the time, it was no big deal,' Klincewicz says. 'About a year before the project went ahead I approached the National Lottery . I won't give you the name of the person, but he said to me, 'I'll get back to you on it.' And he did. Within 10 minutes.' All very civilised. All very upfront. 'I offered to bring in the full payment for buying all the combinations, give them the money and they just give us one ticket. But the response was, very simply, 'No, we cannot accept that proposal. But if you mark all the cards, that'll be okay.' So I said to myself, 'Right. That's just what I am going to do.'' My assumption is that the organisers were banking on nobody managing the logistical complications of getting nearly two million Lotto cards through machines up and down the State. It was simple enough to calculate when, on a big rollover weekend, the mathematics would deliver a profit to someone who bought all the combinations (unless there was an unprecedented number of winners). But surely nobody could manage to pull off such an enormous operation. 'It wasn't complicated to organise,' Klincewicz says with a chuckle. 'For me it was a case of turning over the page. 'Right, what's next?' Get it done. I never really thought about that. It is just something I set out to do. And I did it.' Rarely has such a remarkable man seemed so convinced of his unremarkable nature. There are the makings of a book in his family story. His mother, a nurse from northwest Cork specialising in psychiatry, was attached to Gen Montgomery's 21st Army Corps in the months after the second World War. She found herself liaising with Klincewicz's dad, a Polish paediatrician, and, after getting together romantically, they pondered where in world such a couple would find home. Most of the elder Klincewicz's family made their way to the United States. 'Mum said to Dad, 'Look, come to Ireland. We'll go there. Try it for a year. And if you don't like it we'll go to Chicago.' So, obviously, the rest is history. Dad loved Ireland, loved the people, and that's how they came to be in Cork.' Might we find clues to his interest in the mathematics of gambling from a legend about his grandparents, exiled to Siberia by the Bolsheviks? 'I could never get missing pieces of the jigsaw, but apparently they escaped as a result of the outcome of a game of chance,' he says. 'I'm not sure if it was poker. I don't know what card game it was, but they escaped with assistance based on the outcome of this card game.' Klincewicz, who was in the rare-stamp business at the time of the Lotto project, makes no claims for academic standing. 'I have no PhDs, nothing whatsoever like that,' he says. 'I would prefer to say I had no qualifications. Any papers that I do have are only diplomas or things like that – which are not major, not relevant.' The lottery had already delivered Klincewicz a degree of fame. The documentary shows him promoting his bestselling book, Win the Lotto, on RTÉ television. One cannot overstate the impact of the National Lottery in the late 1980s and early 1990s. This was a time of great hardship, and the lure of instant wealth proved an irresistible intoxicant. Then there were the community projects that the profits financed. 'It was seen as a really positive thing in a time that was, I suppose, quite dark,' Whitaker says. 'We don't want to go on and on about that, but that's very much how people felt at the time. All you ever heard at school was the unemployment numbers going up.' This explains the divided feelings about the syndicate at the time. A television audience shown in the film seems to be wishing for them to fail. Here were these cynics playing poker with the people's dream machine. Yet, 33 years later, it is hard to watch Beat the Lotto without rooting for Klincewicz and his band of investors. They were breaking no laws. The flaw was in the system. And the plan involved a lot of hard work. 'I have heard of people coming out of screenings of the film arguing over which side they would be on,' Whitaker says. 'And, in fact, some of the programmers in different cinemas have been relaying that back to us.' Yet Beat the Lotto is structured like a heist movie, and everyone wants the plotters to succeed in such an entertainment. Right? All the more so if it's strictly legal. Don't the Irish pride themselves on enjoying the establishment being taken down a peg? 'You do lean a little bit into the tropes of the genre you're in,' Whitaker says. 'And, when it comes down to it, it wasn't illegal to do what they did. It was an incredible undertaking. They spent over a year filling out those tickets by hand, which just feels like an insane thing for someone to do.' So where did Klincewicz find the other members of the syndicate? For all the simplicity of the idea, you still need to gather a large number of people who are prepared to risk some unexpected glitch frustrating the mathematics. 'It would have been due to the formation of smaller syndicates prior to doing this and building up contacts through those circles,' he says, slightly cryptically. 'So many diverse aspects of life. One of the people – and I don't want to make the name public – was a major car dealer, a big name, the managing director of that company. I got to know him because I got my first car in Dublin from him. And stayed with them. So he was part of the syndicate.' He reveals that the biggest single investment would have been £220,000. 'When the news got out, one person whom I knew very well arrived into my offices on the Thursday morning and said, 'I want to invest in this.' There was very little left at the time. I think there was probably around £10,000 needed to complete it – which would have been filled anyway. He handed £50 over for his share. Ha ha!' The task of buying the tickets was shared out among members in impressively logical fashion. 'It wasn't pro rata,' he says. 'It was a case of [allocating] somebody who had the knowledge how to get, for example, £100,000 worth of tickets on. They had the ability to do it. They had the contacts to do it. They had the assistance to do it.' It would be as well going into Beat the Lotto without knowing how the plan worked out. We certainly shan't spoil that here, but inevitably a host of complications mount as we veer towards the fateful draw. Klincewicz seems genuinely puzzled when I ask if he would like to have done anything differently. 'Well, not really. No, no.' No regrets? He still feels the plan itself was sound? 'It was, yeah, yeah, yeah … apart from the complications.' Life is ever thus. Beat the Lotto is in cinemas from Friday, July 4th
Associated Press
21-06-2025
- Business
- Associated Press
GoldEx: Leading with innovation and building a new fortress of financial security
06/21/2025, Los Angeles, CA // KISS PR Brand Story PressWire // Amid the ever-changing financial industry, GoldEx shines brightly on its official website with its unique innovative charm and rock-solid security, becoming the trusted choice of many investors. Innovation is the core driving force of GoldEx's development. GoldEx actively embraces cutting-edge technology, uses big data and artificial intelligence technology, and deeply analyzes market dynamics and investor needs. By mining massive financial data, GoldEx can accurately understand market trends and provide investors with highly forward-looking investment advice. For example, based on big data analysis, the platform predicts the investment potential of a certain emerging industry in advance, and pushes relevant investment products to investors in a timely manner, helping many investors seize market opportunities and realize asset appreciation. In terms of products and services, GoldEx is constantly innovating. It carefully builds diversified investment portfolios for investors with different risk preferences and investment goals. For conservative investors, it provides stable fixed-income products; for aggressive investors who pursue high returns, it launches challenging equity investment projects. In addition, GoldEx has also innovatively launched smart investment advisory services, which use algorithms to tailor personalized investment plans based on investors' financial status, investment goals and risk tolerance, making investment more scientific and convenient. Security is the bottom line that GoldEx cannot cross. On the technical level, GoldEx uses advanced encryption technology to encrypt user data in all directions to ensure the security of data during transmission and storage. At the same time, multiple firewalls are built to resist external network attacks and prevent data leakage. In terms of internal management, a strict user information access permission system is established. Only authorized staff can access specific data, and all access operations are recorded in detail for traceability. In terms of fund security, GoldEx cooperates with well-known banks to place user funds in third-party custody, achieving complete isolation of funds from platform operating funds. During the transaction process, a real-time monitoring system is used to strictly review each transaction. Once an abnormal transaction is found, the early warning mechanism is immediately activated and corresponding measures are taken to ensure the safety of investors' funds. The official website, serves as an important bridge for GoldEx to communicate with investors and also has many advantages. The interface design is simple and intuitive, allowing investors to easily find the information they need. The operation process is convenient and efficient, and whether it is account opening, trading or checking account information, it can be completed in a short time. At the same time, the official website also provides a wealth of financial knowledge learning resources to help investors improve their financial literacy and make better investment decisions. GoldEx has made steady progress in the financial field with its dual advantages of innovation and security. In the future, GoldEx will continue to uphold the spirit of innovation, constantly improve its security system, bring more high-quality services and experiences to investors on its official website platform, and write a glorious chapter in the financial industry. Company Name: GoldEx Contact Person: Grace tan Email: [email protected] Website: City: Los Angeles
Globe and Mail
18-06-2025
- Business
- Globe and Mail
Could $10,000 Invested in Palantir Stock When It Went Public in 2020 Turn Into $1 million by 2030?
If you invested $10,000 in Palantir Technologies (NASDAQ: PLTR) stock when it hit the market through a direct listing roughly five years ago and held on, you would have had a holding worth about $144,630 as of the close of trading on June 14. That would far exceed the approximately $19,000 position you'd have if you'd invested that same sum in an S&P 500 exchange-traded fund. Palantir's excellent performance demonstrates the wealth-creating potential of American tech companies. That said, past performance is no guarantee of future results. To grow that stake into a $1 million position by this time in 2030, Palantir stock would have to gain 591% over the next five years, or produce a compound annual growth rate of 47%. So how likely is that to happen? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Palantir serves a booming industry Palantir's momentum can be credited to its unique business niche in big data analytics. Its software-as-a-service (SaaS) platforms analyze vast volumes of information to help clients discover actionable trends, reduce waste, and combat fraud. This technology synergizes with generative artificial intelligence (AI), and over the last three years, Palantir has incorporated large language models (LLMs) into its software to offer even faster insights. On the surface, it would appear that the AI industry could offer enough potential to help Palantir's stock maintain its market-beating growth rate. According to analysts at S&P Global, the generative AI market could expand at a compound annual rate of 40% through 2029. While Palantir will face plenty of competition, its focus on military AI systems could give it a wide moat as governments race to modernize their military and intelligence technology. Palantir is already working with the armed forces of Ukraine and Israel to improve their battlefield targeting. And in April, it finalized a deal to provide its Palantir Maven Smart System -- an AI-enabled platform designed to enhance combat awareness -- to the North American Treaty Organization (NATO). Public and employee pressure has at times led rival tech companies such as Alphabet to shun or cancel controversial defense contracts. Palantir vigorously pursues them. Respectable business performance Unsurprisingly, Palantir has experienced healthy demand for its services. In the first quarter, its revenue grew by 55% year over year to $628 million, driven by a tremendous expansion in U.S. commercial and government clients (although the growth of its international business has lagged), while net income more than doubled to $214 million. CEO Alex Karp seems wildly optimistic about his company's potential, stating in the Q1 letter to shareholders that generative AI is experiencing a "ravenous whirlwind of adoption as an increasing number of institutions grasp the magnitude of the shift that is washing over industry and government." While these remarks may make investors feel like they can still get in on the ground floor of a millionaire-making opportunity, the reality is more complicated. While Palantir's business seems to be heating up, much of its future growth is already priced into its current valuation. The stock price has grown at a far faster pace than its actual operations. PLTR data by YCharts. As a result, Palantir now trades at a forward price-to-earnings multiple (P/E) of 250 -- wildly above the S&P 500's average of 28. To say the shares are priced for perfection would be an understatement. Can Palantir grow into its lofty valuation? Palantir's leadership seems to have attracted a cult following, similar to the one that lauds Tesla CEO Elon Musk. Both companies' stocks seem to trade heavily based on hype and optimism rather than on cold, hard business fundamentals. The result has been shares changing hands at unreasonably high valuations that leave them with limited growth potential. Even though Palantir boasts a compelling business model, it's unlikely to produce the same sort of explosive stock price appreciation in the next five years that it enjoyed in the previous five. Investors who own the shares should consider taking profits. Should you invest $1,000 in Palantir Technologies right now? Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Palantir Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $658,297!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $883,386!* Now, it's worth noting Stock Advisor 's total average return is992% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Nvidia, Palantir Technologies, and Tesla. The Motley Fool has a disclosure policy.
Yahoo
18-06-2025
- Business
- Yahoo
Could $10,000 Invested in Palantir Stock When It Went Public in 2020 Turn Into $1 million by 2030?
Palantir has already generated impressive returns for early investors who bought and held on. The AI company now faces the challenge of growing into its extremely high valuation. 10 stocks we like better than Palantir Technologies › If you invested $10,000 in Palantir Technologies (NASDAQ: PLTR) stock when it hit the market through a direct listing roughly five years ago and held on, you would have had a holding worth about $144,630 as of the close of trading on June 14. That would far exceed the approximately $19,000 position you'd have if you'd invested that same sum in an S&P 500 exchange-traded fund. Palantir's excellent performance demonstrates the wealth-creating potential of American tech companies. That said, past performance is no guarantee of future results. To grow that stake into a $1 million position by this time in 2030, Palantir stock would have to gain 591% over the next five years, or produce a compound annual growth rate of 47%. So how likely is that to happen? Palantir's momentum can be credited to its unique business niche in big data analytics. Its software-as-a-service (SaaS) platforms analyze vast volumes of information to help clients discover actionable trends, reduce waste, and combat fraud. This technology synergizes with generative artificial intelligence (AI), and over the last three years, Palantir has incorporated large language models (LLMs) into its software to offer even faster insights. On the surface, it would appear that the AI industry could offer enough potential to help Palantir's stock maintain its market-beating growth rate. According to analysts at S&P Global, the generative AI market could expand at a compound annual rate of 40% through 2029. While Palantir will face plenty of competition, its focus on military AI systems could give it a wide moat as governments race to modernize their military and intelligence technology. Palantir is already working with the armed forces of Ukraine and Israel to improve their battlefield targeting. And in April, it finalized a deal to provide its Palantir Maven Smart System -- an AI-enabled platform designed to enhance combat awareness -- to the North American Treaty Organization (NATO). Public and employee pressure has at times led rival tech companies such as Alphabet to shun or cancel controversial defense contracts. Palantir vigorously pursues them. Unsurprisingly, Palantir has experienced healthy demand for its services. In the first quarter, its revenue grew by 55% year over year to $628 million, driven by a tremendous expansion in U.S. commercial and government clients (although the growth of its international business has lagged), while net income more than doubled to $214 million. CEO Alex Karp seems wildly optimistic about his company's potential, stating in the Q1 letter to shareholders that generative AI is experiencing a "ravenous whirlwind of adoption as an increasing number of institutions grasp the magnitude of the shift that is washing over industry and government." While these remarks may make investors feel like they can still get in on the ground floor of a millionaire-making opportunity, the reality is more complicated. While Palantir's business seems to be heating up, much of its future growth is already priced into its current valuation. The stock price has grown at a far faster pace than its actual operations. As a result, Palantir now trades at a forward price-to-earnings multiple (P/E) of 250 -- wildly above the S&P 500's average of 28. To say the shares are priced for perfection would be an understatement. Palantir's leadership seems to have attracted a cult following, similar to the one that lauds Tesla CEO Elon Musk. Both companies' stocks seem to trade heavily based on hype and optimism rather than on cold, hard business fundamentals. The result has been shares changing hands at unreasonably high valuations that leave them with limited growth potential. Even though Palantir boasts a compelling business model, it's unlikely to produce the same sort of explosive stock price appreciation in the next five years that it enjoyed in the previous five. Investors who own the shares should consider taking profits. Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Palantir Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $658,297!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $883,386!* Now, it's worth noting Stock Advisor's total average return is 992% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Nvidia, Palantir Technologies, and Tesla. The Motley Fool has a disclosure policy. Could $10,000 Invested in Palantir Stock When It Went Public in 2020 Turn Into $1 million by 2030? was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CBC
17-06-2025
- Business
- CBC
Palantir's big data, AI long game
Palantir's technology has been used by everyone from the CIA and Mossad to Airbus and Morgan Stanley. The multi-billion dollar big data software company is at the centre of many of the major issues of our time. Michael Steinberger is a reporter with The New York Times Magazine and the author of a forthcoming book on Palantir's CEO entitled 'The Philosopher in the Valley.' He joins the show to discuss Palantir's wide-reaching technology, and what it tells us about the future of government and surveillance. Subscribe to Front Burner on your favourite podcast app. For transcripts of Front Burner, please visit: Subscribe to Front Burner on your favourite podcast app. Listen on Apple Podcasts Listen on Spotify Listen on YouTube
