5,659 karma · joined November 27, 2014
Separately, I hope a few folks at JPMC got fired over this. Even the most basic of due diligence should have caught this.
These lists have such a bad reputation these days that legit top folks are asking their PR people to keep the off!
With all these models converging, the big players aren’t demonstrating a real technical innovation moat. Everyone knows how to build these models now, it just takes a ton of cash to do it.
This whole thing is turning into an expensive race to the bottom. Cool tech, but bad business. A lot of VC folks gonna lose their shirt in this space.
It’s not really a question of if the virus will mutate to reinfect people again (or infect those vaccinated) but more of when and if we can get to herd immunity before that happens.
Data is preliminary but based on previous metrics on exposure and “immunity” we shouldn’t see so many people getting sick. Also possible this is another “super contagious” strain and it is ripping its way across the remaining population that’s not immune. Also possible they just overestimated the number of people that should be immune (obviously this would be the ideal answer).
Everyone is sort of holding their breath that the vaccines will maintain immunity until “herd immunity” can be established. If the virus mutates so existing immunity no longer protects you then we’re sort of back to square one and this will be like fighting the flu where it never “goes away.”
There’s a huge difference between A) someone gets classified information through nefarious means and shares that with a journalist, and B) “journalist” actively works to steal said classified documents. This case is about “B” not “A” but yet we keep seeing people trying to make the argument that this is some sort of attack on journalism. That’s a gross misrepresentation of the basic facts in this case.
- Most people work multiple jobs to make ends meet: False
- Low income people don’t have health coverage: False
- The US doesn’t have any form of government safety net health coverage for its people: False. Medicaid covers low income population and Medicare covers the older population.
Not saying any of the above is perfect but these false pictures people paint of the US deserve to be called out.
As someone mentioned to me recently “Success in academia is defined by publishing papers mostly read only by a few other people that define success as publishing papers. Success outside academia is defined by doing amazing $&@! that has a measurable impact on the world.”
2) Because the assets are not liquid the “value” of the assets is highly debatable. (Value of your stock portfolio vs private equity holdings).
3) Some assets are not free to own. Simple example being property. It’s worth a lot but also costs a lot (taxes, Maint, ...) to own it. This is in theory valued into the asset value but really on a point in time basis. If the asset isn’t “productive” in earning income then having it on your books with those expenses just keeps eating away at funds elsewhere. Think owning a paid off rental property that doesn’t earn enough to cover its annual costs. Worth a lot in a fire sale, but terrible item to have on the books long term.
4) Companies can have negative goodwill on their balance sheet, especially if there are questions about the quality of the fundamental business or management team. Outsiders may say the company owns a lot of stuff but it’s so poorly managed that that that stuff isn’t worth what it’s normally worth. Yahoo had this issue where the market cap of the company was less than the stock Yahoo owned in other companies. “Yahoo the company” and its team was literally considered to be worth negative dollars.
Thus the presence of competing products or the fact that generics appear against popular options is really not a good argument for nefarious activity.
The issue from some of those crying foul is really that there isn’t any brand loyalty towards what are commodity items. Why should someone buy your more expensive HDMI cable when a perfectly good one sells for less? It’s a valid question those crying foul need to answer. The answer here of course is that many/most of those doing the selling are middle-men and not actual product manufacturers thus it’s very easy to undercut the person that doesn’t really need to be part of the supply chain.
Best advice I’ve heard is to say the draw for living in a city may go away but you need to be close. Living in the middle of nowhere isn’t going to look like such a great idea when people start gathering together again. Maybe not as much as before, but it will still happen. For these reasons I see why the suburbs are seeing a real estate boom in many areas. I’m much less sure about the long term move to places much further away from the cities.