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justinv

802 karma · joined April 25, 2014

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justinv··on The Unlikely Success of Fish Sticks
Fwiw - in Ireland & UK, they're fish fingers, not fish sticks.
justinv··on USPS Awards Contract to Modernize Postal Delivery Vehicle Fleet
Yep. You can even buy a Wrangler RHD direct from Jeep today. Go to their builder and find the "WRANGLER UNLIMITED RHD".
justinv··on When Amazon Switched from Sun to Linux
https://threadreaderapp.com/thread/1347677573900242944.html
justinv··on Ask HN: Imgur Replacement
https://imgz.org
justinv··on Happy New Year HN
Χρόνια πολλά και καλή χρονιά!
justinv··on San Francisco Apartment Rents Crater Up to 31%, Most in U.S.
Not the OP - looks like it's 21.7%[0], so close but you're right that it's lower than 30%.

https://www.seattletimes.com/seattle-news/data/more-than-1-i...

justinv··on Ask HN: Have you been laid off?
I believe it's like this:

L1 - if you lose your job and you have no other status (ie have not filed for green card or have your H1B), that's it. You have to leave within 60 days and you cannot work at another company in the US.

H1B - you can switch to a new company and they port your H1B with USCIS. Otherwise, 60 day grace period to leave.

Adjustment of Status to 485 - if it has been pending with USCIS for more than 180 days & you have your EAD, you can port to another company under the AC-21 act.

justinv··on Formula1 – DAS explained: Mercedes' trick new steering system
Forum & GIFs of it in action - https://forums.autosport.com/topic/214617-mercedes-das-dual-...
justinv··on Why iOS 13 and Catalina Are So Buggy
Hold down the space key as if you would be force touching it. It will make your finger become the "cursor". Slide it around as you see fit.
justinv··on Understanding Recursion as an Absolute Beginner
Thanks for sharing this article!
justinv··on Amazon’s Next-Day Delivery System Has Brought Chaos to America’s Streets
Where do you live in San Francisco? There are tons of Amazon Lockers there where you could pick up a package.

Here is a search on Google Maps.

https://www.google.com/maps/search/Amazon+Lockers/@37.758045...

justinv··on Conflict at Walmart threatens its ecommerce battle with Amazon
This is not true. Amazon turned off oracle DB late last year and is trending Oracle free.

https://twitter.com/ajassy/status/1060979175098437632

justinv··on Uber opens at $42 per share
Yep. MS has around 27MM shares out there for stabilization pot IPO. Once they blow through that, it's the market's game.
justinv··on Uber opens at $42 per share
Yes. The lead underwriter needs to stabilize the price post-IPO. When $unicorn_company IPOs, the underwriter actually sells more shares than the IPO company. If the price starts to drop below the originally listed price, the underwriter steps in to purchase these shares back at the IPO price to stabilize it.

It's generally an optics play - how bad would it look if you as a bank, who wanted to continue to offer IPOs, listed a company and its stock price plummeted below IPO on the first day - obviously you didn't do a great job at valuing the company and building an adequate order book.

https://www.investopedia.com/terms/s/stabilizingbid.asp

justinv··on Uber opens at $42 per share
Morgan Stanley going to have to do a lot to stabilize the price over the coming days...

On Uber's side, they sold at their $45 mark. However, seems this may have been a down round vs their last private funding round ($74.1BN pre-money vs $76BN last year).

justinv··on Lyft’s revenues double, losses quintuple and prospects darken
Here's a good take (sorry for all the Levine links, I just think he provides crisp explanations of financial instruments) on what the underwriter does:

The way the greenshoe works is that, in the IPO, the underwriters sold 15 percent more stock than Lyft did. That is, Lyft sold the underwriters 32.5 million shares of stock in the IPO, but the underwriters placed 37.4 million shares with investors. (The underwriters sold the shares for $72, but bought them from Lyft at $70.02; the $1.98 difference is their fee for the underwriting.) The underwriters were short the extra 4.9 million shares. If the stock went up in the days after the IPO, stabilization would be unnecessary, and JPMorgan would cover that short position by buying the extra shares, from Lyft, at the IPO price. (This is called the “overallotment option,” or “greenshoe.”) If the stock went down, though, or threatened to go down, JPMorgan would cover the short position by buying back the extra shares in the market, which would have the effect of stabilizing the price, because JPMorgan would be a big buyer.[0]

[0] https://www.bloomberg.com/opinion/articles/2019-05-07/lyft-s...

justinv··on Lyft’s revenues double, losses quintuple and prospects darken
While they have 27 million shares short, you may want to look at Levine's take today on that - not all the shares are actually available due to hedging exposure. The 27MM is on top of the 33MM, not out of them.

Levine: "Here’s a pretty good statistic about Lyft Inc.:

Short interest in the No. 2 ride-hailing company has risen to 27 million shares, according to financial analytics firm S3 Partners, while Lyft’s public float is about 33 million shares in total.

Lyft has 285.9 million shares of stock outstanding (including regular Class A and high-vote Class B stock), but a big chunk of those are held by insiders and early investors who have agreed not to sell them for six months. Lyft only sold 32.5 million shares when it went public at the end of March. But now there are, apparently, some 60 million shares publicly available: 32.5 million from Lyft, and 27 million from short sellers. Short sellers have basically doubled the supply of Lyft stock. If you own a share of Lyft, there’s about even odds that you bought it from (someone who bought it from (etc.)) the company as part of its fundraising efforts, or from a short seller as part of her bet against Lyft.

Or, not necessarily her bet against Lyft. One thing that seems to be happening with Lyft is that some number of its pre-IPO shareholders have somehow managed to hedge their exposure, despite the lockups. The banks that are helping them hedge have shorted the stock. This means that some of the shares that are now publicly available are sort of phantom emanations of shares that aren’t yet publicly available; they are locked-up shares that have nonetheless been sold short. They are not new shares created by short selling, but shares that will be available in the future and that have been moved forward in time by short selling.

People always believe that there is some natural limit on the number of short sales, by the way, but there really isn’t. If there are 32.5 million free-floating shares of Lyft, then some enterprising short seller can borrow all of them and sell them to other people. But now those other people own 32.5 million shares of Lyft, and they can further lend them to another (or the same) short seller, who can sell them to yet other people, who will now own shares and be able to lend them, etc. This tends to peter out—some holders won’t lend the stock—but there is no physical requirement that it will. If enough people really wanted to short Lyft stock, and enough people really wanted to buy it, and also enough people wanted to lend it, then there could be 270 million short shares instead of 27 million. The stock market is not just a mechanism for financing companies and allocating their ownership; it is also a mechanism for betting on them. The financing and ownership things are limited by the actual size of the company, but the bets are not; they are limited only by the demand for betting."[0]

[0]https://www.bloomberg.com/opinion/articles/2019-05-10/the-un...

justinv··on After 6 months of working fine, Tesla software update drives at barriers again
There is signage - there are signs to tell you whether the Express Lanes are open or not that are level with the general signage for direction of travel (ie above the road)
justinv··on [dead]
(uses Gruber's shared link - requires your email if you'd like to read it)
justinv··on Facebook asks users: should we allow men to ask children for sexual images?
Tweets from Guardian digital editor with a response from FB VP of Product: https://twitter.com/JonathanHaynes/status/970235172355477505
justinv··on Diesel cars can be banned from German cities, court rules
Spetses is not car-free per se. You can't bring your car on the island as a visitor - but people who live there can have a car (+ taxis & buses)
justinv··on Bill Gates buys land in Arizona to build 'smart city'
I was thinking about this the other day at work (at Amazon) - there would be such an incredible array of opportunities by starting to build a city from scratch. I think it would be really different from cities that we know today and there would be a big opportunity to experiment with urban planning.

But anyways - I doubt this is even minutely likely. Cool thought experiment nonetheless.

justinv··on Qantas wants to fly from Sydney to New York or London nonstop
"for Brits wanting to visit the colonies"

Do people actually talk this way? I live in England and I have never heard anyone refer to going to visit their family/friends/whatever in Australia as "visiting the colonies"

justinv··on My last name makes me invisible to Computers (2015)
Hyphens too.

Source: have a hyphenated last name. "No special characters in this field".

justinv··on The Incredible Shrinking Airline Seat
https://www.theatlantic.com/business/archive/2015/05/the-fin...

http://www.jstor.org/stable/10.1086/679675?seq=1#page_scan_t...

justinv··on The extraordinary story of Britain’s efforts to finance the First World War
Similarly, Liaquat Ahamed's Lords of Finance is a great read about finances from World War I to the Great Depression.
justinv··on Jeff Bezos Surpasses Bill Gates as World's Richest Person
I would argue - especially for Jeff & Bill - that the majority of employees are both the shareholders & owners of said companies.
justinv··on Ask HN: Non technical HN users, what do you do for a living?
Financial analyst. Similarly to shostack, surprisingly technical field at the entry level stage now - you'll have a really hard time if you can't learn (SQL is a must; VBA is very good to have; R is also really useful depending on who you work with). Finance is basically a BI type of role with some longer term forecasting.

Generally speaking - we use our (light) technical skills to analyze data and use it to help provide insight for strategy, both in the short term and long term. We are also the team that builds the longer range operational plans (working with PMs, Ops partners, other orgs etc-).

justinv··on The security content of iOS 10.3.3
FYI even though it says 324mb, App Store updates are delta updates as of iOS 6

https://developer.apple.com/library/content/qa/qa1779/_index...

justinv··on Android Is a Dead End
When did the OP ever mention iOS or Windows Phone being OSS? They've never claimed to be either.
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