andrewjl

I don't disagree with the thrust of your comment but how does one identify the presence or absence of hubris from fossilized remains?

> I'm sure if we took all the top math, quant, economy and finance grads in the world and book them for a few months in that fancy Swiss Alps resort at Davos where world leaders meet up every year to discuss how to screw us, they could come up with a better system than the one we currently have.

That isn't an obvious conclusion. To the extent the current system is one, improving it with such an approach doesn't account for:

- It having too many parts to understand without resorting to highly lossy models.

- Its non-features being far more impactful than its features.

Sports teams don't typically pay players in equity.

This post raises a question I'm curious about: is executive pay higher or lower in private firms compared to ones that are public? Adjusting for confounding factors like size and sector.

Came here to post this!

The US hasn't ever had a vigilant financial services regulator.

I've dealt with indoor flooding in the past and was recommended Decon 30[1] by an experienced remediator. Its main active ingredient is thymol (from thyme) and it's EPA approved for fungicidal, bactericidal, and viricidal use. Pretty easy to find on Amazon or at a janitorial supply store. Safety data sheet here[2].

I found it generally more pleasant and less harsh on the skin in particular than hydrogen peroxide or cleaners from Clorox.

[1] https://benefect.com/us/products/decon-30/

[2] https://benefect.com/pdf/decon-30-product-data-sheet-usa.pdf

Berberine can also be found in bayberries. Would be interesting to know if those had a similar effect.

Thanks for the explanation!

The math doesn't work out by design due to favorably shaped policies. A sizable amount of wealth is hidden away extra-jurisdictionally or consists of intentionally undervalued assets or isn't captured in statistics.

> spiritual ecosystem

what does this mean?

> Let me add one more: don't liver in a mortgaged house, rent unless you have good liquidity and a growing savings account that can handle a mortgage!

A good chunk of the income tax system is designed to lower the cost of owning real estate. Foregoing that is no better than paying credit card interest.

> Uber, buses and bikes have allowed me to be car free in probably the most car dependent and unwalkable city in the world.

You'll need to use a credit card to use Uber. Unless you're suggesting using debit cards for that which isn't a great idea.

> They didn't use the Deutsche Mark, they came up with a new currency for their union

What you're saying is factually true but overlooks what happened with Greece, Spain, and others during the 2010s.

Why is that distinction important? Especially in light of the first sentence of the paragraph that sentence is embedded in.

> THERE IS NO WARRANTY FOR THE PROGRAM, TO THE EXTENT PERMITTED BY APPLICABLE LAW.

> At best, that only covers bug fixes. And, as I said, bug fixes are usually implied to be available in future releases

Can you explain how you got to that interpretation from that phrasing?

> SHOULD THE PROGRAM PROVE DEFECTIVE, YOU ASSUME THE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION.

And how is future development and / or support not covered under servicing of that clause?

The article is from 2020 but there is a headline out today in the WSJ about the owner of Big Fish Games: "Aristocrat Leisure Raises Dividend After FY Profit Jumps 53%"[1]

[1]: https://www.wsj.com/business/earnings/aristocrat-leisure-rai...

The article mentions that Big Fish Games was at one point owned by Churchill Downs and now belongs to Aristocrat Leisure. The former operates racetracks and an online oddsmaker while the latter literally manufactures gambling machines.

> These games are not gambling because, among other reasons, they offer no opportunity for players to win money or anything of value. Our games are offered for free purely for entertainment, with an opportunity for customers to spend money within the game to enhance their gameplay experience.[1]

Right, no connection to gambling whatsoever.

[1]: https://www.documentcloud.org/documents/6896112-BF.html

I always felt that every insurance company should report anonymized aggregate percentages for denied claims in some fashion. Not sure how much that would help but it could shine more light on the issue.

Institutional investors would need to justify to their LPs why whatever they will end up earning beats buying and holding Treasuries instead. The higher rates Treasuries have the tougher it is to make that justification.

> but I find it difficult to believe that the most optimized, useful, and productive way to teach children about reality is the method we've settled on in the modern US.

You're spot on, it isn't. That's by design. The foremost goal of a modern education system is creating a labor force[1][2] that meets the projected demands of the economy. What is interesting to think about is that over time the type of workforce the economy needs changes and how that interacts with changes in education policy.

Don't get me wrong, there is value in trigonometry but I think classes on probability, statistics, and basic financial math like compound interest and so on are much more impactful when it comes to aggregate outcomes. I don't think it has to be an either or type of thing.

[1]: https://en.wikipedia.org/wiki/Prussian_education_system

[2]: https://en.wikipedia.org/wiki/Common_school

Here are some links to related discussions from the Swift forums

https://forums.swift.org/t/backtraces-in-swift/61736

https://forums.swift.org/t/pitch-swift-backtracing-api/62741

I found the backtracing API design discussions in the second link especially illuminating

None of those categories really fall under the second order category mentioned in the video. Using their analogy they all sound more like a mapping provider versus something like Uber.

I don't doubt that will happen but how does that translate to sustainable, as opposed to short-term, earnings?

I'm sure it's been mentioned elsewhere but Lina Khan's Amazon’s Antitrust Paradox[1] ranks among my favorite pieces of legal writing. I think it's all but required reading for anyone who cares about antitrust issues, irrespective of the position one lands on when it comes to specifics.

https://www.yalelawjournal.org/pdf/e.710.Khan.805_zuvfyyeh.p...

Why aren't investment dollars going towards more important problems?

How much of this will end being a ZIRP phenomenon? The article does cover the implications of rising interest rates towards the end.

> Meanwhile, interest rates have reached a 20-year high, posing a direct threat to private equity’s debt-heavy business model. In response, many private-equity funds have migrated toward even riskier forms of backroom financing. Many of these involve taking on even more debt on the assumption that market conditions will soon improve enough to restore profitability. If that doesn’t happen—and many of these big deals fail—the implications could be massive.

For anyone interested in the nuts and bolts of how private equity works I highly recommend the 50X podcast[1] which covers how a firm focusing on buying out aircraft component suppliers operates.

[1] https://www.50xpodcast.com

How are those at all related?

> I hope the settlement hits trillions. Burn the fuckers down.

Hoping on the sidelines gets you nowhere. Laws need to be changed to end the presumption in many jurisdictions that a lack of safety data equates to a benign substance.

How does a valid range of list prices get determined?

> Newly arriving immigrants frequently lack the education to be easily absorbed into a highly skilled workforce.

Not typical for Canada as an example.

The bigger point is that immigration and it's effects are deeply shaped by policy.