The trace travels
Two researchers say the encrypted reasoning traces frontier APIs hand back to you can be decoded, carried between sessions, and replayed into other models — which turns a cost decision about stateless serving into a question about what your logs have been holding all along. The rest of the day sits underneath that: users reverse-engineering a serving change from output quality, and three separate talks arguing agents need budgets rather than permissions.
Ilia Shumailov and Alexander Panfilov on Machine Learning Street Talk — decoded traces carry passwords and API keys past sanitized…
The skinny
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