Uncategorized – Prizeplayland.org https://prizeplayland.org/ Where facts lead, opinions follow Fri, 19 Jul 2024 09:30:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 The Ultimate Guide to the Best Casino Hotels in Los Angeles: Top 5 Picks for a Luxurious Gaming Getaway https://prizeplayland.org/the-ultimate-guide-to-the-best-casino-hotels-in-los-angeles-top-5-picks-for-a-luxurious-gaming-getaway/ https://prizeplayland.org/the-ultimate-guide-to-the-best-casino-hotels-in-los-angeles-top-5-picks-for-a-luxurious-gaming-getaway/#respond Fri, 19 Jul 2024 09:26:43 +0000 https://prizeplayland.org/?p=72385 Los Angeles is synonymous with glitz, glamour, and entertainment. While the city is known for its film industry and cultural landmarks, it also boasts some of the best casino hotels in the country. For those seeking an exhilarating blend of gaming excitement and luxurious accommodations, Los Angeles has plenty to offer. Here, we present the ultimate guide to the top five casino hotels in Los Angeles, where you can experience the perfect fusion of comfort, elegance, and high-stakes fun.

1. The Commerce Casino & Hotel: A Gaming Giant

Overview

The Commerce Casino & Hotel is a landmark in the Los Angeles gaming scene, renowned for its vast array of gaming options and luxurious amenities. Known as the largest card room in the world, it offers a staggering 240 tables dedicated to various card games.

Gaming Experience

Guests can immerse themselves in a variety of poker games, including Texas Hold’em, Omaha, and Seven-Card Stud. The casino also features other table games like blackjack and baccarat, ensuring there’s something for every gaming enthusiast.

Accommodation

The hotel boasts stylish and comfortable rooms equipped with modern amenities, providing a relaxing retreat after a day of gaming. The chic decor and plush bedding ensure a restful night’s sleep.

Dining

The Commerce Casino & Hotel offers a range of dining options, from casual eateries to fine dining. The Arena Sports Bar & Grill is a highlight, offering a diverse menu and a vibrant atmosphere perfect for unwinding with friends.

Entertainment and Amenities

In addition to gaming, guests can enjoy live entertainment, events, and tournaments. The hotel also features a fitness center and a swimming pool, catering to those looking to stay active during their stay.

2. The Bicycle Hotel & Casino: A Premier Destination

Overview

Affectionately known as “The Bike,” The Bicycle Hotel & Casino is a premier gaming destination that combines luxury with top-notch gaming facilities. Located in Bell Gardens, just a short drive from downtown Los Angeles, it attracts both locals and tourists alike.

Gaming Experience

The Bike offers an impressive selection of poker and table games, with over 185 poker tables and a variety of other gaming options. Whether you’re a novice or a seasoned player, you’ll find a game that suits your skill level.

Accommodation

The hotel’s rooms and suites are designed with comfort and elegance in mind. Each room features high-end furnishings, plush bedding, and state-of-the-art technology to ensure a relaxing stay.

Dining

The Bike Brewery is a must-visit dining spot, offering a wide selection of craft beers and a menu filled with delicious dishes. From gourmet burgers to fresh salads, there’s something to satisfy every palate.

Entertainment and Amenities

Guests can enjoy live music, special events, and tournaments held regularly at the casino. The hotel also offers a fitness center, swimming pool, and services to enhance the guest experience.

3. Hollywood Park Casino: Where Glamour Meets Gaming

Overview

Located in Inglewood, Hollywood Park Casino is a storied institution that combines the thrill of gaming with the glamour of Hollywood. Its modern design and vibrant atmosphere make it a popular choice for both casual and serious gamers.

Gaming Experience

Hollywood Park Casino offers a wide range of table games and poker tournaments, catering to players of all levels. The casino’s sleek, contemporary design enhances the overall gaming experience.

Accommodation

The adjacent hotel offers elegantly designed rooms that provide a luxurious retreat after a night of gaming. Each room features modern amenities, comfortable bedding, and stylish decor.

Dining

The on-site restaurant serves a variety of delicious dishes, from hearty breakfasts to gourmet dinners. Guests can also enjoy handcrafted cocktails and fine wines at the bar.

Entertainment and Amenities

Hollywood Park Casino hosts a variety of events, including live music and special tournaments. The hotel features a fitness center and swimming pool, providing additional options for relaxation and entertainment.

4. Hustler Casino: A Touch of Sophistication

Overview

Founded by the legendary Larry Flynt, Hustler Casino offers a unique and sophisticated gaming experience. Located in Gardena, this casino is known for its upscale ambiance and friendly staff.

Gaming Experience

Hustler Casino features a variety of table games, including poker, blackjack, and roulette. The casino’s elegant design and welcoming atmosphere make it a favorite among locals and visitors alike.

Accommodation

The hotel offers luxurious accommodations with spacious rooms and modern amenities. Guests can relax in style and comfort, enjoying plush bedding and elegant decor.

Dining

Larry Flynt’s Bar & Grill is the casino’s signature dining establishment, offering a menu filled with American classics and contemporary dishes. The restaurant’s warm and inviting atmosphere is perfect for a leisurely meal.

Entertainment and Amenities

In addition to gaming, Hustler Casino hosts live entertainment and special events. The hotel features a fitness center and other amenities to ensure a comfortable and enjoyable stay.

5. San Manuel Casino: A Short Drive to Gaming Paradise

Overview

Located just outside Los Angeles in Highland, San Manuel Casino is a premier destination for gaming enthusiasts. This expansive casino offers an impressive array of gaming options and luxurious accommodations.

Gaming Experience

San Manuel Casino boasts a vast selection of slot machines, table games, and poker. With over 4,800 slot machines and a wide variety of table games, there’s something for every type of player.

Accommodation

The newly added luxury hotel features well-appointed rooms with stunning views of the surrounding area. Each room is designed with comfort and style in mind, providing a relaxing retreat for guests.

Dining

San Manuel Casino offers several dining options, including The Pines Modern Steakhouse. This fine dining restaurant serves premium steaks, fresh seafood, and an extensive wine list, making it a must-visit for food enthusiasts.

Entertainment and Amenities

The casino regularly hosts live concerts, events, and tournaments. The hotel features a fitness center, swimming pool, and other amenities to ensure a well-rounded and enjoyable stay.

Conclusion

Los Angeles is home to some of the most luxurious and exciting casino hotels in the country. Whether you’re looking to indulge in high-stakes gaming, enjoy gourmet dining, or simply relax in luxurious accommodations, these top five casino hotels offer the perfect blend of excitement and comfort. Plan your next gaming getaway to Los Angeles and experience the best the city has to offer.

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Understanding Package Repositories in Proxmox VE 8.2 Part – 5 https://prizeplayland.org/understanding-package-repositories-in-proxmox-ve-8-2-part-5/ https://prizeplayland.org/understanding-package-repositories-in-proxmox-ve-8-2-part-5/#respond Mon, 01 Jul 2024 11:52:00 +0000 https://prizeplayland.org/?p=72381

Proxmox VE is a powerful reliable open-source solution built for enterprise virtualization environments. A Virtualization Engineer aiming to improve IT infrastructure should understand the complexity of Proxmox VE.

An essential component of administering Proxmox VE is its package repositories. These repositories are essential for preserving and upgrading your virtualization environment, guaranteeing security, stability, and access to the latest features. This article will explore the different package repositories offered in Proxmox VE 8.2.

If you missed previous blog posts of this series, you can find them here:

Introduction to Proxmox VE 8.1

Installing Proxmox VE 8.1 on VMware Workstation 17

Proxmox VE 8.1: Overview of Web Console

Containers vs. VMs: Choosing the Right Approach for Your Proxmox VE – Part 4

Understanding Package Repositories

Package repositories are centralized storage locations from which software packages can be retrieved, installed, and updated. These repositories ensure that your system has access to the latest features, security patches, and bug fixes, thereby maintaining the stability and security of your Proxmox virtualization platform.

In the context of Proxmox VE, there are several types of repositories, each serving different needs:

Enterprise Repository

The Enterprise Repository is available to users with a valid Proxmox VE subscription. It provides access to thoroughly tested and stable packages, ensuring the highest level of reliability for production environments.

This repository is ideal for enterprises that prioritize stability and are willing to invest in a subscription to minimize risks and downtime.

No Subscription Repository

The No Subscription Repository, also known as the Community Repository, is available to all users, regardless of subscription status. This repository provides access to the same software packages as the Enterprise Repository but without the same level of testing and support.

It is a valuable resource for users who want to stay updated with the latest features and improvements without the cost of a subscription. However, it requires users to be more proactive in managing and troubleshooting their Proxmox VE installations.

Test Repository

The Test Repository is intended for users who want to access the latest developments and experimental features in Proxmox VE. Packages in this repository are not as thoroughly tested as those in the Enterprise or No Subscription repositories and may contain bugs or unfinished features. This repository is best suited for development environments or for users who want to contribute to the testing and improvement of Proxmox VE.

Understanding the differences between these repositories allows you to make informed decisions about how to configure your Proxmox VE system based on your specific needs and risk tolerance.

Overview of Proxmox VE 8.2

Proxmox Virtual Environment (VE) 8.2, released on April 24, 2024, introduces a range of enhancements designed to improve installation, management, and performance. This release ensures that your virtualization environment remains at the cutting edge of technology. Here are the key updates in Proxmox VE 8.2:

Automated Installation: Proxmox VE 8.2 supports automated and unattended installations, simplifying the deployment process for large-scale environments.

VM Import Wizard: A new wizard facilitates the import of virtual machines (VMs) from VMware ESXi, making it easier to migrate existing workloads to Proxmox VE.

nftables Firewall: The firewall system has been updated to use nftables, providing enhanced security and more robust firewall management capabilities.

Device Passthrough for LXC: Proxmox VE 8.2 includes support for device passthrough in LXC containers, allowing for greater flexibility and performance in containerized environments.

Enhanced Backup Options: New advanced backup settings offer greater control over backup processes, improving data protection and recovery options.

Custom CAs: The release adds support for custom Certificate Authority (CA) configurations with ACME, enhancing SSL/TLS certificate management and security.

User Interface Enhancements: Proxmox VE 8.2 features several UI improvements, making the platform more user-friendly and intuitive. Enhanced dashboards and streamlined navigation help administrators manage their environments more efficiently.

Debian 12.5 (Bookworm): Proxmox VE 8.2 is based on Debian 12.5, ensuring compatibility with the latest software packages and updates.

Linux Kernel 6.8: The inclusion of a newer Linux kernel (6.8) provides improved performance, hardware compatibility, and security features.

QEMU 8.1: Updated to QEMU 8.1, offering better performance and new features for virtual machine management.

Ceph Reef 18.2: The latest version of Ceph (Reef 18.2) provides enhanced scalability and stability for distributed storage solutions.

LXC 6.0: Updated LXC version 6.0 improves container management and performance.

Open ZFS 2.2: Open ZFS 2.2 brings advanced storage capabilities, improving data integrity and performance for ZFS file systems.

These enhancements in Proxmox VE 8.2 underscore the importance of keeping your system updated to leverage the latest features and improvements.

Conclusion

Maintaining a well-configured and up-to-date Proxmox VE environment is essential for ensuring the stability, security, and performance of your virtualization infrastructure. By understanding the different package repositories and configuring the No Subscription Repository, you can keep your Proxmox VE 8.2 system current without the need for a paid subscription. This guide has provided you with a comprehensive overview of the steps involved, along with best practices and troubleshooting tips to help you manage your environment effectively.

In summary, we have covered:

Understanding Package Repositories: The role of package repositories in Proxmox VE and the differences between Enterprise, No Subscription, and Test repositories.

Overview of Proxmox VE 8.2: Key features and improvements in the latest release, highlighting the importance of keeping your system updated.

Proxmox VE Subscription Model: An overview of the subscription tiers and the benefits of each, helping you make informed decisions about repository configurations.

By following this guide, you can ensure that your Proxmox VE setup remains robust and efficient, providing a reliable foundation for your virtualization needs.

We hope you found this guide helpful and informative. Please share your experiences, tips, and questions in the comments section below. Your feedback and insights are valuable to us and can help others in the Proxmox VE community.

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Configuring No Subscription Repository in Proxmoxm VE 8.x Part – 6 https://prizeplayland.org/configuring-no-subscription-repository-in-proxmoxm-ve-8-x-part-6/ https://prizeplayland.org/configuring-no-subscription-repository-in-proxmoxm-ve-8-x-part-6/#respond Mon, 01 Jul 2024 11:51:48 +0000 https://prizeplayland.org/?p=72378

Proxmox VE is a robust open-source solution for virtualization, widely popular among home lab enthusiasts. By default, Proxmox is configured to use Enterprise repositories that require a subscription. For home lab setups where budget constraints are a consideration, purchasing a subscription may not be feasible.

Fortunately, Proxmox provides a no subscription repository that you can use to keep your server updated without needing a subscription. In this tutorial, we’ll walk you through the process of configuring your Proxmox VE installation to use no subscription repositories.

If you missed the previous blog posts of this series, you can find them here:

Introduction to Proxmox VE 8.1

Installing Proxmox VE 8.1 on VMware Workstation 17

Proxmox VE 8.1: Overview of Web Console

Containers vs. VMs: Choosing the Right Approach for Your Proxmox VE – Part 4

Understanding Package Repositories in Proxmox VE 8.2 Part – 5

Understanding the Need for No Subscription Repositories

When you first set up Proxmox VE, it is configured to use Enterprise repositories, which require a paid subscription for access. Without a subscription, you won’t be able to fetch updates from these repositories, which is critical for maintaining a secure and up-to-date system.

By switching to the no subscription repository, you can access updates and keep your server secure and functional, all for free and legally.

Logging into the Proxmox Web Interface

Begin by logging into the web interface of your Proxmox VE server. You might see a message stating “No valid subscription.” This message will remain even after switching to the no subscription repository, but it will not interfere with your ability to update the server.

Next, minimize the web interface and open an SSH session to your Proxmox VE server. The SSH session will allow you to edit the necessary configuration files.

ssh session to proxmox ve 8.x

Checking the Current Repository Configuration

Once logged in via SSH, it’s important to understand the current repository configuration. Execute the following commands to update and upgrade your system:

apt-get update && apt-get upgrade

checking the current repository configuration in proxmox ve 8.1

You will likely see errors indicating that the system cannot fetch updates from the Enterprise repository. This is because you don’t have a valid subscription.

The error message will look something like this: “Failed to fetch enterprise.proxmox.com.” This confirms that you are currently pointed to the Enterprise repository.

Also Read: Proxmox VE 8.2 is Released with VMware ESXi Import Wizard

Failed to fetch enterprise.proxmox.com

Editing the Main Repository List

To switch to the no subscription repository, you need to edit the main repository list file located at /etc/apt/sources.list.d/pve-enterprise.list.

editing the main repository list in proxmox ve 8.1

Open this file using a text editor, such as nano:

nano /etc/apt/sources.list.d/pve-enterprise.list

editing the main repository list in proxmox ve 8.x

In this file, you’ll see a line pointing to the Enterprise repository. It will look something like this:

deb https://enterprise.proxmox.com/debian/pve bookworm pve-enterprise

pointing to enterprise repository in proxmox ve 8.x

Comment out this line by adding a ‘#’ at the beginning.

pointing to enterprise repository in proxmox ve 8.1

Then, add the following line to point to the no subscription repository:

deb http://download.proxmox.com/debian/pve bookworm pve-no-subscription

no subscription repository in proxmox ve 8.1

Save and exit the file by pressing Ctrl+X, then Y, and Enter.

Editing the Ceph Repository List

Proxmox 8.x requires an additional step of updating the Ceph repository list. This was not needed in previous versions like 7.x.

Also Read: Veeam Now Supports Proxmox Virtual Environment (VE): Enhanced Data Protection for SMBs and Service

Open the Ceph repository list file located at /etc/apt/sources.list.d/ceph.list

And, edit using the following command.

nano /etc/apt/sources.list.d/ceph.list

ceph reposiroty in proxmox ve 8.1

In this file, you’ll see a line pointing to the Enterprise repository for Ceph updates. Comment out this line and add the following line to point to the no subscription repository:

deb http://download.proxmox.com/debian/ceph-quincy bookworm no-subscription

ceph reposiroty in proxmox ve 8.2

Save and exit the file by pressing Ctrl+X, then Y, and Enter.

Testing the New Configuration

With the repository files updated, it’s time to test the new configuration. Run the update and upgrade commands again:

apt-get update && apt-get upgrade

testing configuration in proxmox ve 8.1

This time, you should see that the system is able to fetch updates from the no subscription repository without any errors. This confirms that your Proxmox VE server is now successfully configured to use the no subscription repositories.

no subscription repository configured successfully

Final Thoughts and Additional Resources

Switching to the no subscription repository is a straightforward process that allows you to keep your Proxmox VE server updated without needing a subscription. This is ideal for home lab environments where budget constraints are a consideration.

Remember, the no subscription repository is fully supported within the terms of use of Proxmox, so you can use it with confidence.

If you have any questions or run into issues, there are plenty of resources available. The Proxmox community forums are a great place to start, and you can also find detailed guides and tutorials on various blogs and websites.

Happy labbing, and enjoy your Proxmox VE setup!

Resources

Proxmox VE Documentation

Proxmox Support Forum

All screenshots are taken from Brandon Lee’s YouTube video.

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What is Cloud Security? 9 Cloud Security Best Practices in 2024 https://prizeplayland.org/what-is-cloud-security-9-cloud-security-best-practices-in-2024/ https://prizeplayland.org/what-is-cloud-security-9-cloud-security-best-practices-in-2024/#respond Mon, 01 Jul 2024 11:51:40 +0000 https://prizeplayland.org/?p=72375

Today, most people use cloud computing. And why’s that? Because it is convenient, scalable, and cost-effective. However, when there’s a good side of something, there’s a bad one too. That’s the same for cloud computing. It raises important questions like how protected is the data from hackers? What security measures are in place? And so on.

These are not just technical questions. These are actual problems that people face everyday. While the cloud has tons of benefits, it also brings specific security challenges. These challenges include data breaches, compliance issues, and more.

In 2023 a research was conducted which showed that over 8.2 Billion data records were leaked because of data breaches. So, now you know why cloud security is absolutely necessary in 2024.

Here, we’ll help you clear up your concept about cloud security and address any concerns that you have about it. This article also includes practical tips on how to keep your data safe. So, let’s dive in.

What is Cloud Security?

Cloud security is all about protecting the data, applications, and services anyone stores in the cloud. As more businesses and individuals use cloud computing, keeping this information safe becomes even more important. But what exactly does cloud security involve?

Think of cloud security as a set of practices and technologies designed to defend your cloud-based resources from various threats. These threats can include hackers trying to steal your data, viruses that can corrupt your files, and even accidental leaks of sensitive information.

One key part of cloud security is making sure only authorized people can access your data. This is done through strong passwords, multi-factor authentication, and permissions settings that control who can see and do what with your information.

Also Read: What is an Insider Threat? Definition, Types, and Prevention

What Cloud Security Covers?

Here’s a list of things that come under cloud security:

Physical Networks: This includes routers, electrical power, cabling, and climate controls. It is important to keep these components secure as they are the foundation of cloud security.

Data Storage: Cloud security makes sure that your data is protected by every means possible. Keeping the data safe is crucial to prevent unauthorized access and data loss.

Data Servers: These are the core network computing hardware and software. If your cloud servers are secure, you’ll have a smooth and safe operation of your cloud services.

Computer Virtualization Frameworks: This involves the software that creates virtual machines, as well as the host and guest machines. The security measures are crucial here to prevent breaches in virtual environments.

Operating Systems (OS): These are the software that runs on your machines, hosting all other software and applications. If you want to prevent malware, this is where you focus more for additional security. 

Runtime Environments: This involves the execution and maintenance of running programs. You need to ensure these environments are secure to help prevent disruptions and attacks during program execution.

Applications: These include traditional software services such as email, tax software, and productivity suites. All of these must be kept secure to prevent data breaches and ensure safe usage.

End-User Hardware: Lastly, the hardware used by individuals such as computers, mobile devices, and Internet of Things (IoT) devices also have cloud storage. This means it is essential to protect these devices as well to cover up any potential entry points for cyber threats.

Common Cloud Security Challenges

While cloud security can simplify security management and enhance visibility, it also brings about several challenges. These include:

Identity and Access Control

Cloud providers are constantly expanding their services, resulting in an average of over 5,000 distinct entitlements per service. Managing this volume with traditional identity and access management (IAM) approaches can be overwhelming and complex.

Logging, Monitoring, and Incident Response

Effective incident response relies on comprehensive and accurate logs. Many organizations struggle to handle the large volume of data generated by cloud computing. Due to this companies usually feel their existing solutions are inadequate for collecting reliable logs, which is actually true.

Storage and Encryption

Queueing and notification services often temporarily store sensitive information before security measures can be applied. This step is frequently overlooked, and many services lack essential server-side encryption, which means the data being transferred is left vulnerable.

Cloud Ransomware

Cloud environments are most susceptible to cyberattacks because they are hosted online. Attackers typically exploit misconfigurations or weak security practices, such as excessive permissions or weak passwords to infiltrate these environments.

Supply Chain Attacks in the Cloud

Sharing data and access with third parties, like suppliers and contractors, increases the risk of supply chain attacks. This makes it crucial for security teams to prioritize the monitoring and management of third-party access to protect cloud environments effectively.

9 Cloud Security Best Practices in 2024

Here are the 9 best practices for cloud security which you might have been waiting for to read.

#1. Understand Your Shared Responsibility Model

Firstly, it is important to clearly define which security tasks are managed by your cloud provider and which tasks are to be handled by you. This understanding will help you implement effective security measures for your data, applications, and configurations. 

Having well-defined roles ensures that all aspects of cloud security are covered. It also reduces the risk of security breaches due to overlooked responsibilities.

#2. Ask Detailed Security Questions

You need to ask all the right questions. Make sure to regularly check in with your cloud provider and update yourself about their security protocols, disaster recovery plans, and compliance measures. This ensures their security processes align with your organization’s requirements and helps identify any potential weaknesses in their system. 

Asking these questions provides clarity on the provider’s capabilities and readiness to handle security incidents, enabling you to make informed decisions about your cloud security strategy.

#3. Train Your Staff

Employees are the backbone for any company that wants to do well in the market. So, it is important to provide comprehensive cybersecurity training to all employees. Educate them on identifying threats, using strong passwords, recognizing phishing attacks, and understanding the importance of following security policies. 

Well-trained staff are essential for maintaining a secure cloud environment, as human error is a common cause of security breaches. Continuous training keeps employees updated on the latest threats and best practices.

#4. Establish and Enforce Cloud Security Policies

Now, you need to have clear cloud security policies outlining who can use cloud services, how they should be used, and what data can be stored. Also, ensure all employees adhere to these guidelines to maintain consistent security practices across the organization. 

Effective policies reduce the risk of data breaches and unauthorized access by providing clear instructions and standards for handling cloud resources securely.

#5. Integrate Additional Cloud Security Tools

You can’t manually strengthen your cloud security. For that you need to use additional tools like Identity and Access Management (IAM), Intrusion Detection and Prevention Systems (IDPS), and Cloud Access Security Brokers (CASB). These tools will help enhance your security posture and defend against various threats. 

These tools provide additional layers of protection by managing access, detecting malicious activities, and enforcing security policies. Which means they are more than capable of strengthening your cloud environment’s overall security framework.

#6. Conduct Penetration Testing and Audits

Now, if you want to check how strong your defenses are you’ll need to perform penetration testing and security audits on a regular basis. This proactive approach helps strengthen your defenses and ensures your security measures are effective. 

Penetration testing simulates cyberattacks to find weaknesses, while audits evaluate your overall security posture. Both of these provide insights and action plans to mitigate risks and enhance protection.

#7. Enable and Monitor Security Logs

It is critical to have a detailed log of all the activities happening on the cloud environment. By doing so, you can quickly detect any security issues and respond to them before anything bad happens. 

Effective logging and monitoring provides visibility into your cloud operations. It also enables you to identify anomalies, track user actions, and ensure compliance with security policies.

#8. Understand and Mitigate Misconfigurations

One of the most necessary practices to improve cloud security is to regularly review and correct configuration settings in your cloud environment. Misconfigurations can create vulnerabilities that attackers can exploit, so make sure your system configurations are on-point. 

Automated tools can help detect and fix misconfigurations. They assist in reducing the risk of human error and enhancing the security of your cloud infrastructure by maintaining optimal configuration standards.

#9. Manage Unnecessary and Unauthorized Access

Last but not the least, implement strict access controls and regularly review user permissions. When you limit the access to only those who need it, it reduces the risk of unauthorized access to sensitive data. 

Access management includes using role-based access control (RBAC) and the principle of least privilege. This ensures that users have the minimum necessary permissions to perform their tasks, thereby minimizing security risks.

Also Read: How to Implement AI-Powered Fraud Detection in Financial Services

Conclusion

It is important to secure your cloud environment to keep your data safe and maintain trust. When you understand your responsibilities, ask all the right questions, train your staff, and use effective security tools, you can reduce any potential risks and keep your information safe. If you don’t know how to keep your cloud security top-notch, just read the best practices again and you’ll know what to do.

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Converting Images into Editable Word Documents with AI Tools https://prizeplayland.org/converting-images-into-editable-word-documents-with-ai-tools/ https://prizeplayland.org/converting-images-into-editable-word-documents-with-ai-tools/#respond Mon, 01 Jul 2024 11:49:29 +0000 https://prizeplayland.org/?p=72372

Are you tired of writing text from images into Word files using a keyboard? What a difficult and tricky task it is! Do you ever wonder if there is an AI tool that can make this task easier for you? Yes, there are many image to word converters that can do this tricky task in no time.

The image to word converters utilize OCR technology to perform their specific task. These tools integrate AI with their basic technology to further enhance their efficiency and accuracy. AI is now advancing day by day. The machine learning and natural language processing algorithms of AI have greatly enhanced the efficiency of these image to word converters. Let’s have a deep look into it.

Also Read: How to Train an AI Model with Simple Learning Algorithms

What is an AI image to Word Converters?

AI image to word converters are advanced OCR tools. These tools use artificial intelligence algorithms to analyze and read text data from images. Then they convert it into machine readable text and give output in the form of a Word document. These tools are more advanced than simple OCR tools. 

AI image to word converters use deep learning to process large amounts of data quickly and efficiently. Also, the AI enhances the accuracy of OCR tools to a great extent. This helps them convert images with low resolution or difficult writing into Word documents.

These tools can also efficiently convert handwritten notes and documents into Word documents with greater accuracy. This makes them useful for tasks like adding captions to images, making websites accessible for people who are blind or have low vision, and extracting text from scanned documents.

Difficulties in Converting an Image to a Word Document

Converting an image to a Word document using OCR software can be difficult due to a variety of factors. Some common issues are:

The conversion process can be difficult due to issues such as low-resolution images, handwritten text, complex layouts, and language barriers.

Visual obstacles and handwritten or cursive text can make the OCR process harder.

Recognizing and transcribing multilingual text images can be hard for OCR tools. 

OCR software may not be able to correctly recognize text if the images are not organized or are too complicated, or if there is noise or clutter in the background. For the best conversion, the area must be clear, well-lit, and free of any marks.

Some Best AI Tools to Convert Images into Editable Word Documents

There are plenty of online image to word converters but only a few of them have integrated AI with them. Here, I will tell you about some of the best AI image to word converters. 

1. JPG To Word By HiPDF

HiPDF is the best free AI tool to convert jpg to Word files. It produces high-quality results and is easy to use. It can be used on every browser, including mobile and iPhone. The tool converts JPG files to Word files using Optical Character Recognition (OCR) technology. 

The files you upload to HiPDF are safe because they are deleted from the database after 60 minutes. This means that no one else can get to them without your permission. The user-friendly layout makes it easy for everyone to convert their files, even those who aren’t very good with technology.

Pros:

Access can be gained through various means.

Very good user experience

Comments and annotations are kept.

Cons:

Only paid subscribers can use the HiPDF JPG to Word translator.

Prices:

2. Image to Word Converter By jpgtotext

This tool is an efficient image to word converter. It uses advanced AI algorithms, including machine learning and natural language processing. This allows it to accurately convert JPG images into editable Word documents. Users only need to upload their JPG files, and the converter will quickly look at the text and images to make a Word file that can be edited by anyone. This tool makes it very easy and quick to turn scanned documents or pictures into text that can be changed and edited in Microsoft Word.

Pros:

It works on many devices, like desktops, phones, and tablets.

 It can get text out of images, even ones with low resolution.

It is useful, especially  for students and businesses 

COns:

Their website does not clearly mention their privacy and security practices.

Prices:

3. Microsoft OneNote

OneNote is a good option to consider if you are already using Microsoft and are looking for a free alternative. The text contained within images can be recognized by this note-taking app, which can be accessed with a Microsoft account, and it can convert the text directly within the app itself. After the text has been converted, it can be easily exported to a Word document, at which point it can undergo additional editing and formatting. 

Pros

Completely free with a Microsoft account.

User-friendly interface for capturing images and extracting text.

It works well with other Microsoft Office programs.

Cons

It is possible that OCR will not be as accurate as full-on OCR tools.

Editing options are limited compared to a full-fledged word processor.

Prices

If you have a Microsoft account, it is completely free to use.

Benefits of AI Powered Image to Text Converters

Image to word AI converters have many advantages. These tools can greatly enhance the speed and usability of work in many fields. Here are some key advantages:

Increased Efficiency

The AI image to text converters make it easier to extract data from pictures, which saves time and effort. They can also speed up the scanning of paper documents like business cards, receipts, and writing notes. It makes it easier to handle and organise documents. A lot of tools also allow batch processing, so you can convert multiple files into.

Improved Accuracy

AI powered OCR tools can correctly extract text. It makes it less likely to do mistakes as compared to writing by hand, especially for important documents. It can also read different kinds of text, tables, and complicated patterns better than simple OCR tools.

Enhanced Accessibility

The text can be turned into speech or Braille for people who are blind or have low vision. There are many tools that can translate the extracted text into different languages. This helps people from different countries share information and talk to each other.

Also Read: Can We Learn Generative AI Without Knowing Machine Learning and Deep Learning?

Conclusion

When compared to conventional OCR tools, image-to-word converters that are powered by artificial intelligence offer a significant improvement. These artificial intelligence tools are able to achieve greater accuracy and efficiency in the process of converting images into editable Word documents since they make use of machine learning and natural language processing. This technology provides a wide range of advantages, some of which include increased productivity, improved accuracy, and enhanced accessibility. AI is always getting better, which means that image to word conversion will soon be even more useful for many tasks.

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Proxmox vs FreeBSD: Which Virtualization Host Performs Better? https://prizeplayland.org/proxmox-vs-freebsd-which-virtualization-host-performs-better/ https://prizeplayland.org/proxmox-vs-freebsd-which-virtualization-host-performs-better/#respond Mon, 01 Jul 2024 11:46:36 +0000 https://prizeplayland.org/?p=72369

Not too long ago, we walked you through Proxmox VE 8.x series. Today, we’re going to take a look specifically at Proxmox vs FreeBSD diving swiftly into features exploring which virtualization host performs better—but before we do that, we need to talk about them individually.

FreeBSD is an operating system used to power modern servers, desktops, and embedded platforms. A huge community has continually developed it for more than thirty years. Its advanced networking, security, and storage features have made FreeBSD the platform of prime for many of the busiest web sites and most persistent embedded networking and storage devices.

Proxmox Virtual Environment is an open source server virtualization management solution centered on QEMU/KVM and LXC. Users can manage virtual machines, containers, highly accessible clusters, storage and networks through a web interface or CLI. Proxmox VE code is licensed under the GNU Affero General Public License, version 3. The project is developed and maintained by Proxmox Server Solutions GmbH.

Also Reader: Proxmox vs VMware ESXi: Which One Should You Choose?

Comparative Analysis

To decide which virtualization host performs better, here is an analysis of the key findings:

Interpretation of CPU and RAM Results

Proxmox provides more consistent CPU performance, FreeBSD exhibits superior memory performance. The choice between Proxmox and FreeBSD may depend on the particular workload requirements and the importance of consistent performance versus higher throughput.

I/O Performance Tests

The performance data collected from numerous configurations of Proxmox and FreeBSD provides an ample view of the I/O capabilities and highlights some significant differences.

Host Physical Systems and Filesystems

VM Configurations Comparison

File Creation Speed:

Amid VMs, VM on FreeBSD (ZFS, NVMe) leads, followed by VM on FreeBSD (zvol), and then VM on FreeBSD (ZFS, Virtio).

Read and Write Operations per Second:

VM on FreeBSD (ZFS, NVMe) and VM on FreeBSD (zvol) both outperform VM on Proxmox (ZFS) and VM on Proxmox (LVM) configurations expressively.

VM on Proxmox (ZFS) outperforms VM on Proxmox (LVM) in read and write operations.

fsync Operations per Second:

VM on FreeBSD (ZFS, NVMe) and VM on FreeBSD (zvol) have significantly advanced fsync operations compared to VM on Proxmox (ZFS) and VM on Proxmox (LVM).

Throughput:

VM on FreeBSD (ZFS, NVMe) and VM on FreeBSD (zvol) have the highest throughput, followed by VM on Proxmox (ZFS) and then VM on Proxmox (LVM).

Latency:

VM on FreeBSD (ZFS, NVMe) and VM on FreeBSD (zvol) display the lowermost latencies among the VMs, indicating faster response times.

VM on Proxmox (ZFS) shows lower latencies compared to VM on Proxmox (LVM).

Cache Settings and Performance Influence

Cache settings can considerably influence the performance of virtualization systems. The performance differences may be also due to how diverse operating systems manage the caches of NVMe devices.

Key insights

About RAM and CPU, the performance of the VMs is comparable. There are minor differences in favor of Proxmox for CPU and FreeBSD for RAM, but in my opinion, these differences are so trivial that they wouldn’t sway the decision towards one solution or the other.

The I/O performance data undoubtedly indicates that VM on FreeBSD with NVMe and ZFS outperforms all other configurations by a significant margin. This is apparent in the file creation speed, read/write operations per second, fsync operations per second, throughput, and latency metrics. Conversely, the exceptionally high performance of VM on FreeBSD with NVMe and ZFS suggests that there might be a core issue, such as the NVMe driver not honoring fsync properly. This could lead to the VM believing that data has been written when it has not, resulting in artificially inflated performance results.

When comparing physical hosts, Host FreeBSD (ZFS) demonstrates excellent performance, mainly in comparison to Host Proxmox (ZFS) and Host Proxmox (ext4).

When comparing VMs, VM on FreeBSD (ZFS, NVMe) and VM on FreeBSD (zvol) configurations stand out as the top performers. It’s imperative to consider the potential fsync issue with NVMe storage. VM on Proxmox (ZFS) performs better than VM on Proxmox (LVM), but the FreeBSD configurations outperform both.

The VM using virtio on FreeBSD also shows strong performance, though not as high as the NVMe configuration. It significantly outperforms Proxmox configurations in terms of file creation speed, read/write operations per second, and throughput, while maintaining competitive latencies.

Also Read: Containers vs. VMs: Choosing the Right Approach for Your Proxmox VE

Wrap up

In conclusion, while the VM on FreeBSD with NVMe and ZFS shows the finest performance, it is important to investigate the potential issue with fsync operations.

By scrutinizing these performance metrics, users can make informed decisions about their virtualization and storage configurations to optimize their systems for particular workloads and performance requirements.

In light of above discussion, Undoubtedly, Proxmox is a stable solution, rich in features, battle-tested, and has many other effective points, but FreeBSD, specifically with the nvme driver, demonstrates very high performance and a very low overhead in installation and operation.

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AT&T, Verizon and T-Mobile Users Hit by Service Outage in Europe https://prizeplayland.org/att-verizon-and-t-mobile-users-hit-by-service-outage-in-europe/ https://prizeplayland.org/att-verizon-and-t-mobile-users-hit-by-service-outage-in-europe/#respond Mon, 01 Jul 2024 11:32:12 +0000 https://prizeplayland.org/?p=72366

Many travelers from the United States lost a crucial tool to check maps, make reservations, use ride-hailing apps and more because of a cellular data outage that began affecting users of AT&T, T-Mobile and Verizon on Wednesday.

The affected travelers, mostly in Europe, posted on social media, seeking answers about what caused the outage and how long it would last. Some reported being unable to make phone calls, send texts or use online services without Wi-Fi for as long as 24 hours. It is unclear what caused the outage, which appeared to extend from Britain to Turkey.

An AT&T spokeswoman said that the carrier’s network was operating normally, but that some customers traveling internationally might be experiencing service disruptions because of an issue outside the AT&T network. The company said it was working with one of its roaming connectivity providers to resolve the issue.

Verizon told some of its customers on social media that it was also aware of the issue and that its teams were working with local providers to resolve it.

A T-Mobile representative said the carrier was one of “several providers impacted by a third-party vendor’s issue that is intermittently affecting some international roaming service” and was also working to resolve it.

George Lagos, a 70-year-old real estate developer from Dunedin, Fla., who is visiting the Greek island of Crete with his family, noticed on Wednesday that his T-Mobile cellular data was not working. For about 24 hours, he said, he was not able to reach the people he had made plans with, though luckily, they had already gone over the details together.

“You know it’s an inconvenience, but it wasn’t a disaster,” said Mr. Lagos, whose service appeared to be restored by Thursday evening. “I didn’t miss a flight. I didn’t have a taxicab looking for me or anything.”

But there was a more serious concern: His wife’s mother has been sick and Mr. Lagos’s wife could not reach the person who was helping take care of her.

“That probably was the worst thing,” Mr. Lagos said.

Major U.S. carriers all offer some version of an all-inclusive international data plan that allows travelers to use their phones much as they would in the United States.

Though the current disruption appears to be easing, travelers affected by such outages have other options to connect. Swapping out a physical SIM card — for phones that still have one — can allow you to connect to a local network. (These typically come in pay-as-you-go or prepaid packages.) For newer phones, apps like Airalo provide relatively inexpensive electronic SIM card packages in many international destinations. And of course, you can always seek out a secure Wi-Fi network.

Follow New York Times Travel on Instagram and sign up for our weekly Travel Dispatch newsletter to get expert tips on traveling smarter and inspiration for your next vacation. Dreaming up a future getaway or just armchair traveling? Check out our 52 Places to Go in 2024.

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N.F.L. Ordered to Pay Billions in Sunday Ticket Lawsuit https://prizeplayland.org/n-f-l-ordered-to-pay-billions-in-sunday-ticket-lawsuit/ https://prizeplayland.org/n-f-l-ordered-to-pay-billions-in-sunday-ticket-lawsuit/#respond Mon, 01 Jul 2024 10:14:31 +0000 https://prizeplayland.org/?p=72363

The N.F.L. must pay almost $5 billion in damages for artificially inflating the price of Sunday Ticket, a subscription service offered by DirecTV that showed out-of-market games, a federal jury in Los Angeles decided on Thursday.

The verdict, which capped a monthlong class-action trial and almost a decade of legal wrangling, includes about $96 million in damages for the bars and restaurants that subscribed to the service, and more than $4.6 billion for roughly 2.4 million residential subscribers. Damages in antitrust cases like this are tripled by law, which means the league may have to pay more than $14 billion.

The jury’s damages were most of what the plaintiffs lawyers were seeking. “It’s a great day for consumers everywhere,” said Bill Carmody, one of the plaintiffs’ lawyers.

The N.F.L. is expected to appeal the verdict.

“We are disappointed with the jury’s verdict today in the N.F.L. Sunday Ticket class action lawsuit,” Brian McCarthy, a league spokesman, said in a statement. “We will certainly contest this decision as we believe that the class action claims in this case are baseless and without merit.”

Judge Philip Gutierrez, who openly admonished the plaintiffs’ lawyers during the trial in U.S. District Court, will hear post-trial motions next month. He could, in theory, decide that the jury reached an improper verdict. An appeals court could also alter the size of the damages.

Still, the verdict poses a substantial risk to the league, which is a $20 billion juggernaut in large part because of its media deals.

“Juries are inherently unpredictable, but any time there’s a ruling against a sports entity, it’s significant because leagues rarely take these cases all the way to trial,” said Gabriel Feldman, the director of the sports law program at Tulane University.

The civil case cut to the heart of the league’s media distribution strategy, which for more than a half-century has been based on negotiating contracts with networks on behalf of all the teams. More than 90 percent of N.F.L. games are shown on free over-the-air television in the markets of the teams in the games, and many other games are shown in prime time on national networks. The league’s contracts with CBS, Fox, NBC and other broadcasters generate more than $10 billion a year.

Sunday Ticket was a unique product because it packaged out-of-market games already being shown by CBS and Fox and resold them to fans for about $300 a season. The plaintiffs argued that the price was deliberately inflated to limit the number of subscribers. The plaintiffs’ lawyers pointed to an email to N.F.L. executives from ESPN that said the cable sports network was willing to offer Sunday Ticket for only $70 and sell single-team packages.

The league spurned the offer and stuck with DirecTV until 2022, when it struck a new deal with YouTube TV.

During the trial, the league acknowledged that CBS and Fox would be hurt if Sunday Ticket attracted too many subscribers. Commissioner Roger Goodell, who testified last week, said the service was priced as a premium product.

The jury — and many fans — contended that the league could and should offer its games at a lower price, and with more flexible options, like team-only packages. Feldman, the Tulane professor, said the N.F.L. would most likely on appeal restate its case that while it negotiated contracts collectively, it was pro-consumer because it offered so many games over the air for free.

The N.F.L. will argue that “we are not like Coke and Pepsi — we are more like Coke and Coke Zero,” Feldman said. “We are part of the same company and part of the same goals.”

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The Fed’s Preferred Inflation Measure Cools, Welcome News https://prizeplayland.org/the-feds-preferred-inflation-measure-cools-welcome-news/ https://prizeplayland.org/the-feds-preferred-inflation-measure-cools-welcome-news/#respond Mon, 01 Jul 2024 10:10:36 +0000 https://prizeplayland.org/?p=72360

The Federal Reserve’s preferred inflation measure continued to cool as consumer spending grew only moderately, good news for central bankers who have been trying to weigh down demand and wrestle price increases under control.

The Personal Consumption Expenditures index climbed 2.6 percent in May from a year earlier, matching what economists had forecast and down from 2.7 percent previously.

After stripping out volatile food and fuel prices to give a better sense of the inflation trend, a “core” price measure was also up 2.6 percent from a year earlier, down from 2.8 percent in the April reading. And on a monthly basis, inflation was especially mild, and prices did not climb on an overall basis.

The Fed is likely to watch the fresh inflation data closely as central bankers think about their next policy steps. Officials raised interest rates sharply starting in 2022 to hit the brakes on consumer and business demand, which in turn can help to slow price increases. But they have held borrowing costs steady at 5.3 percent since July as inflation has slowly come down, and have been contemplating when to begin lowering interest rates.

While officials went into 2024 expecting to make several rate cuts this year, they have pushed those expectations back after inflation proved stubborn early in the year. Policymakers have suggested that they still think they could make one or two rate cuts before the end of the year, and investors now think that the first reduction could come in September.

Given Friday’s fresh inflation data, the sticky inflation early in 2024 looks “more and more like a bump in the road,” Omair Sharif, founder of Inflation Insights, wrote in note after the release. “However you want to slice and dice it, we’ve made considerable progress on core inflation over the last year.”

But whether a rate cut happens in the coming months hinges on what happens with economic data — both for prices and for the labor market.

Inflation remains above the Fed’s 2 percent target, but it is much slower than it was at its 2022 peak, when overall P.C.E. inflation hit 7.1 percent. And a separate but related measure, the Consumer Price Index, reached an even higher peak of 9.1 percent and has now come down sharply as well.

Fed officials have been clear that they will cut rates when inflation has decelerated enough to make them confident that it is coming fully under control, or if the job market shows an unexpected cooling.

Policymakers generally expect inflation to cool in the coming months, though some have expressed concern that the process could be halting.

“Much of the progress on inflation last year was due to supply-side improvements, including easing of supply chain constraints; increases in the number of available workers, due in part to immigration; and lower energy prices,” Michelle Bowman, a Fed governor, said in a speech this week. She suggested that those forces might offer less help going forward.

But other officials are nervously eyeing a slowdown that is beginning to grip the broader economy and that could soon hit the labor market, worried that keeping interest rates too high for too long could come at a cost to America’s workers by slowing growth too much.

Hiring has remained strong so far, and while wage growth is cooling, it is still robust. But some measures suggest that labor conditions are in fact weakening — job openings have come down notably, the unemployment rate has risen slightly and jobless claims have recently ticked up somewhat.

“The labor market has adjusted slowly, and the unemployment rate has only edged up,” Mary C. Daly, the president of the Federal Reserve Bank of San Francisco, said in a speech this week. “But we are getting nearer to a point where that benign outcome could be less likely.”

Friday’s report showed that consumer spending remained cool in May, further evidence that steam is coming out of the economy.

Diane Swonk, chief economist at KPMG, said that for now, conditions still looked reasonably strong.

“Are we on thin ice yet? Not yet, and it does look like there is room to run,” she said, but she noted that the Fed must remain vigilant. “They want to cause a cooling of the economy, not a deep freeze.”

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Wall Street Law Firms Are in a Poaching Frenzy. Kind of Like the N.B.A. https://prizeplayland.org/wall-street-law-firms-are-in-a-poaching-frenzy-kind-of-like-the-n-b-a/ https://prizeplayland.org/wall-street-law-firms-are-in-a-poaching-frenzy-kind-of-like-the-n-b-a/#respond Mon, 01 Jul 2024 10:06:13 +0000 https://prizeplayland.org/?p=72357

Hotshot Wall Street lawyers are now so in demand that bidding wars between firms for their services can resemble the frenzy among teams to sign star athletes.

Eight-figure pay packages — rare a decade ago — are increasingly common for corporate lawyers at the top of their game, and many of these new heavy hitters have one thing in common: private equity.

In recent years, highly profitable private equity giants like Apollo, Blackstone and KKR have moved beyond company buyouts into real estate, private lending, insurance and other businesses, amassing trillions of dollars in assets. As their demand for legal services has skyrocketed, they have become big revenue drivers for law firms.

This is pushing up lawyers’ pay across the industry, including at some of Wall Street’s most prestigious firms, such as Kirkland & Ellis; Simpson Thacher & Bartlett; Davis Polk; Latham & Watkins; and Paul, Weiss, Rifkind, Wharton & Garrison. Lawyers with close ties to private equity increasingly enjoy pay and prestige similar to those of star lawyers who represent America’s blue-chip companies and advise them on high-profile mergers, takeover battles and litigation.

Numerous people compared it to a star-centric system like the N.B.A., but others worried that higher and higher pay had gotten out of hand and could strain the law firms forced to stretch their budgets to keep talent from leaving.

“Twenty million dollars is the new $10 million,” said Sabina Lippman, a partner and co-founder of the legal recruiter Lippman Jungers. In the past few years, at least 10 law firms have spent — or acknowledged to Ms. Lippman that they need to spend — around $20 million a year or more to lure the highest-profile lawyers.

One hiring partner at a law firm said $20 million pay packages were usually reserved for those who could bring in more than $100 million in annual revenue for a firm.

Last year, six partners at Kirkland, including some who were recruited during the year, each made at least $25 million, according to people with knowledge of the arrangements who weren’t authorized to discuss pay publicly. Several others in its London office made around $20 million.

One partner at a law firm said pay for top lawyers had roughly tripled in the past five years.

The take-home pay of some top lawyers is now approaching that of big bank chiefs. Jamie Dimon of JPMorgan Chase, the nation’s largest bank, made roughly $36 million last year. David Solomon of Goldman Sachs earned about $31 million over the same period.

At the center of the action is Kirkland, a 115-year-old law firm founded in Chicago that made an early play for private equity clients when few rivals saw them as big moneymakers. About a decade ago, Kirkland began poaching heavy hitters at rival law firms — many based in New York — who had longstanding relationships with the biggest private equity players.

That inspired fierce competition among top law firms, including Simpson, Latham, Davis Polk and Paul, Weiss. Some have changed their compensation structures or stretched their budgets to keep stars from leaving. Others have countered by raiding Kirkland to build their own private equity businesses.

“Firms do not feel like they can only think about being defensive with respect to their talent,” said Scott Yaccarino, co-founder of the legal recruiting firm Empire Search Partners. “They have to be on the offense, too.”

Lawyers have earned multimillion-dollar pay packages for more than a decade. When Scott A. Barshay, one of the industry’s pre-eminent mergers-and-acquisitions lawyers, left Cravath, Swaine & Moore to join Paul, Weiss in 2016, his pay package of $9.5 million created a stir in the industry. (Mr. Barshay’s compensation has risen significantly since then, two people with knowledge of the contract said.)

But the recent jump in pay has happened at a dizzying pace and for many more lawyers. Coupled with the fierce poaching, it is swiftly reshaping the economics of major law firms. Kirkland has even guaranteed some hires fixed shares in the partnership for several years, according to several people with knowledge of the contracts. In some instances, it has extended forgivable loans as sweeteners.

Last year, Kirkland hired away Alvaro Membrillera, a noted private equity lawyer in London who counts KKR as a key client, from Paul, Weiss for around $14 million and a multiyear guarantee, according to two people with knowledge of the contract.

White & Case recently hired O. Keith Hallam III, a partner from Cravath with private equity clients, for roughly $14 million a year, according to a person with knowledge of the contract. The firm also hired Taurie M. Zeitzer, a private equity lawyer at Paul, Weiss, for around the same amount, another person with knowledge of the contract said.

To some, the changing landscape represents a more meritocratic system in which partners can expect pay based on talent rather than seniority. Cravath, a storied, 205-year-old firm, long followed the so-called lock-step system linked to seniority, but modified it in 2021. Debevoise & Plimpton is one of the few remaining firms that continue to follow the lock-step model.

“Law firms have gotten a lot more commercial in how they run themselves,” said Neil Barr, the chair and managing partner of Davis Polk. “Firms are operating like businesses rather than old-school partnerships, and it’s led to more rational business behavior.”

Kirkland’s early bet on private equity has paid off handsomely. Globally, private equity firms managed $8.7 trillion in assets in 2023 — more than five times what they oversaw at the onset of the financial crisis in 2007, according to the data provider Preqin. Blackstone alone manages more than $1 trillion in assets, and other firms, including Apollo, Ares, KKR and Brookfield, collectively oversee trillions more.

As the private equity business took off, Kirkland’s clients began directing hundreds of millions of dollars in business its way each year. In 2023, Kirkland made more than $7 billion in gross revenue, according to The American Lawyer’s annual ranking, making it the highest-grossing law firm in the world.

A single firm like Blackstone or KKR can generate legal work from the constellation of companies, banks and others in its universe. For instance, even though Blackstone’s main law firm is Simpson, it paid Kirkland — one of its secondary law firms — $41.6 million in 2023, according to a regulatory filing.

“The private equity clients of these firms — they mint money,” said Mark Rosen, a legal recruiter.

Simpson, an illustrious Wall Street firm with roots in the Gilded Age and one of the largest private equity practices, has been a particular target of poaching by Kirkland. One person with knowledge of the rivalry called the firm Kirkland’s “farm team.” Kate Slaasted, a spokeswoman for Kirkland, said in an email: “As a firm, we have the highest regard for Simpson Thacher.”

At least seven top partners from Simpson, including Andrew Calder and Peter Martelli, have jumped to Kirkland in the past decade. Kirkland also poached Jennifer S. Perkins, a star lawyer from Latham who has represented KKR on some of its deals, to join its private equity practice.

Mr. Calder and Jon A. Ballis, the chairman of Kirkland, were among the partners who made at least $25 million last year, according to three people with knowledge of the compensation details. Mr. Calder and Melissa D. Kalka, also a partner at Kirkland, work closely with Global Infrastructure Partners, the private equity firm that recently announced a deal to sell itself to BlackRock for $12.5 billion.

In 2023, Paul, Weiss — which counts Apollo Global Management among its top clients and is aggressively building its private equity business — poached several Kirkland lawyers to build out its London office. The firm also hired Eric J. Wedel, whose clients include Bain Capital, KKR and Warburg Pincus, away from Kirkland, and Jim Langston, another private equity-focused lawyer, from Cleary Gottlieb Steen & Hamilton.

Simpson has altered its pay structure in the past year so that it can be more competitive with Kirkland and other rivals. “We intentionally made the decision to adjust our compensation structure to attract and retain the best talent in strategically important practices across our global platform,” Alden Millard, chair of Simpson’s executive committee, wrote in an email.

One sign of the frenzied nature of hiring: the use of multiyear compensation guarantees to attract lawyers. These fell out of favor after Dewey & LeBoeuf filed for bankruptcy in 2012, unable to meet millions of dollars in fixed payments and bonuses it had promised partners. Now, a different type of guaranteed payment has become popular.

Some firms are awarding new hires a number of shares in the partnership for a set period, typically in the range of two to five years. Such offers are attractive because they ensure a specific share of a firm’s profits irrespective of its annual performance.

This frenzy has meant that even lawyers without private equity connections have seen their pay rise. Freshfields — a big British firm that is building a beachhead in the United States — has recruited lawyers in the range of $10 million to $15 million, and provided additional pay guarantees to some, according to three people with direct knowledge of the compensation details.

“Law firms want people who are going to be motivated based on culture,” said Ms. Lippman, the recruiter. “But at some point if you have this big difference between firms, everyone has a price.”

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