The Algorithm

Founder of Basecamp, David Heinemeier Hansson, calls out the problem with algorithms of credit checks and triggers an investigation by New York State Department of Financial Services:

The @AppleCard is such a fucking sexist program. My wife and I filed joint tax returns, live in a community-property state, and have been married for a long time. Yet Apple’s black box algorithm thinks I deserve 20x the credit limit she does. No appeals work.

So nobody understands THE ALGORITHM. Nobody has the power to examine or check THE ALGORITHM. Yet everyone we’ve talked to from both Apple and GS (Goldman Sachs) are SO SURE that THE ALGORITHM isn’t biased and discriminating in any way. That’s some grade-A management of cognitive dissonance.

November 11, 2019