Citation Needed
Issue 67 – Bug out bitcoin
Crypto resurfaces on the campaign trail and the FTX fallout continues to unfold. Also, merch!
3 months ago
Crypto resurfaces on the campaign trail and the FTX fallout continues to unfold. Also, merch!
Mazdak
Google Quantum Computer, OpenAI Sora Video Generator and more ...
Google just dropped a bombshell in quantum computing.
a month ago
Google just dropped a bombshell in quantum computing.
Bits about Money
Bits about Money yearly recap and plans
What we covered in 2024, what are plans are in 2025, and a solicitation for supporting memberships.
4 days ago
What we covered in 2024, what are plans are in 2025, and a solicitation for supporting memberships.
Calculated Risk
December 20th COVID Update: COVID in Wastewater Increasing
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm...
4 weeks ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly.
Note: "Effective May 1, 2024, hospitals are no longer required to report...
Mazdak
Used Car Prices Drop: Should You Buy Now or Wait for Better Deals?
The once-tumultuous used car market, characterized by record-high prices and limited options, has...
a year ago
The once-tumultuous used car market, characterized by record-high prices and limited options, has begun to exhibit signs of a significant shift. Prices are now decelerating, presenting both challenges and opportunities for buyers. This article delves into the key factors driving...
Seeking Wisdom
Ruturaj Gaikwad, P-value, and Bayes’ Theorem
IPL is one of the greatest entertainments for a cricket lover like me. Chennai Super Kings (CSK) is...
8 months ago
IPL is one of the greatest entertainments for a cricket lover like me. Chennai Super Kings (CSK) is my favorite team. Ruturaj Gaikwad, the new CSK captain for the IPL 2024 season, lost 10 out of 13 tosses: LLLLWLLLLLLWL. The probability of seeing the sequence LLLLWLLLLLLWL is...
The Rational Walk
Improving Disclosure for Public Companies
The Securities and Exchange Commission could improve disclosure and transparency by implementing...
9 months ago
The Securities and Exchange Commission could improve disclosure and transparency by implementing three simple proposals.
balajis.com
Decentralizing Education with Synthesis
I'm co-leading a round in Synthesis, a startup scaling the custom school built for Elon Musk’s kids.
over a year ago
I'm co-leading a round in Synthesis, a startup scaling the custom school built for Elon Musk’s kids.
Calculated Risk
Friday: No major economic releases scheduled
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Friday:
• No...
a month ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Friday:
• No major economic releases scheduled.
Calculated Risk
Real Estate Newsletter Articles this Week: "Home ATM" Mostly Closed
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Part 1:...
a month ago
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Part 1: Current State of the Housing Market; Overview for mid-December 2024
Part 2: Current State of the Housing Market; Overview for mid-December 2024
The "Home ATM" Mostly Closed in Q3
2nd...
Calculated Risk
2nd Look at Local Housing Markets in November
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in...
a month ago
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in November
A brief excerpt:
NOTE: The tables for active listings, new listings and closed sales all include a comparison to November 2019 for each local market (some 2019 data is not...
Bits about Money
The Long Shadow of Checks
A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the...
a year ago
A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the U.S.
The Diff
We Still Have No Idea Whether Passive Investing is a Meaningful Risk
Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC;...
a month ago
Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC; Tariff Man
The Rational Walk
Free Articles!
A selection of fifteen formerly paywalled articles
9 months ago
A selection of fifteen formerly paywalled articles
Calculated Risk
1st Look at Local Housing Markets in December
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in...
a week ago
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in December
A brief excerpt:
NOTE: The tables for active listings, new listings and closed sales all include a comparison to December 2019 for each local market (some 2019 data is not...
The Rational Walk
The Digest #187
Damage repair, Claude Shannon, Elon Musk's pay, Intellectual obesity, Apple Vision Pro, Ignoring the...
11 months ago
Damage repair, Claude Shannon, Elon Musk's pay, Intellectual obesity, Apple Vision Pro, Ignoring the market, Damodaran data updates, Apple packaging, Samsung, Big Pharma
Commoncog
Lee Walker and the Dell Growth Plateau
How Lee Walker overcame Dell's biggest growth plateau in 1986. A story about capital, imagination,...
a year ago
How Lee Walker overcame Dell's biggest growth plateau in 1986. A story about capital, imagination, and creative deal-making.
The Rational Walk
Berkshire Hathaway’s Q3 2023 — Overview
A high level overview of third quarter results and year-to-date repurchase activity.
a year ago
A high level overview of third quarter results and year-to-date repurchase activity.
Commoncog
What is Power?
Understanding how power works in business is necessary to understanding business in developing...
a month ago
Understanding how power works in business is necessary to understanding business in developing markets. A members-only mini series.
Musings on Markets
Tesla in November 2023 : Story twists and turns, with value consequences!
I was planning to start this post by telling you that Tesla was back in the news, but that would be...
a year ago
I was planning to start this post by telling you that Tesla was back in the news, but that would be misleading, since Tesla never leaves the news. Some of that attention comes from the company's products and innovations, but much of it comes from having Elon Musk as a CEO, a man...
Mazdak
Salary vs. Dividends: Picking the Right Paycheck as a Business Owner
Whether it's the joy of self-employment or the burden of payroll decisions, every business owner...
11 months ago
Whether it's the joy of self-employment or the burden of payroll decisions, every business owner faces unique financial considerations. One critical choice arises early on: to pay yourself a salary or take dividends? Understanding the pros and cons of each path empowers you to...
The Diff
Good Accounting is a Positive Externality
Plus! Crossovers; Politics: Back on Meta; Structure; Gradual Tariffs; Property Rights
5 days ago
Plus! Crossovers; Politics: Back on Meta; Structure; Gradual Tariffs; Property Rights
FIRE v London
Jan ’23: Mr Market defuses my tax bombshell
January is always a miserable month to be in London. Thankfully I managed to get away a bit during...
a year ago
January is always a miserable month to be in London. Thankfully I managed to get away a bit during the month (not to Davos, no), and enjoy myself in London despite the wintry weather. What you’re paying for in Mayfair these days Market movements in January The markets on the...
The Rational Walk
Warren Buffett on Inflation — Part 2
Inflation took the auto insurance industry by surprise in the 1970s, impacting Berkshire's auto...
a year ago
Inflation took the auto insurance industry by surprise in the 1970s, impacting Berkshire's auto insurance business as well as nearly bankrupting GEICO.
Bits about Money
Banking in very uncertain times
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we...
a year ago
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we may not get about it.
Seeking Wisdom
Focus on the process, not the outcome
Woorkeri Raman, a former Indian cricketer and former coach of the India women’s national cricket...
5 months ago
Woorkeri Raman, a former Indian cricketer and former coach of the India women’s national cricket team, has two non-negotiables. As an offspinner, you must never get cut, and you must never get driven through the covers. Even when Ravichandran Ashwin takes five wickets, Raman will...
Calculated Risk
Real Estate Newsletter Articles this Week: Case-Shiller Index Up 3.6% year-over-year in October
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger...
2 weeks ago
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Case-Shiller: National House Price Index Up 3.6% year-over-year in October
Final Look at Local Housing Markets in November and a Look Ahead to December Sales
Fannie and Freddie: Single...
The Diff
Initiations
Plus! Alternative Data; Size and Momentum; The Full Audience; Same-Day
a month ago
Plus! Alternative Data; Size and Momentum; The Full Audience; Same-Day
Calculated Risk
Monday: Pending Home Sales
Weekend:
Schedule for Week of December 29, 2024
Chicago Purchasing Managers Index for...
2 weeks ago
Weekend:
Schedule for Week of December 29, 2024
Chicago Purchasing Managers Index for December.
Pending Home Sales Index for November. The consensus is for a 0.7% increase in the index.
Dallas Fed Survey of Manufacturing Activity for December. This is the last of regional...
Mazdak
Who Should You Ask for Feedback?
Feedback is essential for business success. It can help you identify areas for improvement, get new...
a year ago
Feedback is essential for business success. It can help you identify areas for improvement, get new ideas, and stay ahead of the competition. But not all feedback is created equal. If you want to get the most out of feedback, you need to ask the right people.
Mazdak
Apple Intelligence: Catching Up or Falling Behind?
Apple just launched its new AI features with much fanfare, but are they truly intelligent or just a...
2 months ago
Apple just launched its new AI features with much fanfare, but are they truly intelligent or just a bunch of glowing gradients and sparkle icons?
Calculated Risk
Question #1 for 2025: How much will the economy grow in 2025? Will there be a recession in 2025?
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of...
a week ago
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment will...
Musings on Markets
Data Update 3 for 2024: Interest Rates in 2023 - A Rule-breaking Year!
In my last post, I looked at equities in 2023, and argued that while they did well during 2023, the...
11 months ago
In my last post, I looked at equities in 2023, and argued that while they did well during 2023, the bounce back were uneven, with a few big winning companies and sectors, and a significant number of companies not partaking in the recovery. In this post, I look at interest rates,...
Moneyness
The magnificent Swiss 10-centime coin
The Swiss 10-centime coin has a lot to teach us about monetary economics.
On its face, the Swiss...
2 months ago
The Swiss 10-centime coin has a lot to teach us about monetary economics.
On its face, the Swiss 10-centime (rappen in German) looks like a pretty unremarkable coin. It's the second-lowest value Swiss coin, the Swiss version of America's lowly nickel, the sort of coin that many...
Musings on Markets
Catastrophic Risk: Investing and Business Implications
In the context of valuing companies, and sharing those valuations, I do get suggestions from readers...
11 months ago
In the context of valuing companies, and sharing those valuations, I do get suggestions from readers on companies that I should value next. While I don't have the time or the bandwidth to value all of the suggested companies, a reader from Iceland, a couple of weeks ago, made a...
The Rational Walk
The Digest #219
Roth IRA Conversions, Net-Nets, Margin of Safety, SpaceX's Triumph, The Dystopia of Smartphones, Sam...
3 months ago
Roth IRA Conversions, Net-Nets, Margin of Safety, SpaceX's Triumph, The Dystopia of Smartphones, Sam Zell, UK Bargains, Gregorys Coffee, Free Speech Under Assault, Dopamine and Addiction
Calculated Risk
Housing Jan 6th Weekly Update: Inventory down 2.4% Week-over-week, Up 27.3% Year-over-year
Altos reports that active single-family inventory was down 2.4% week-over-week.
Inventory will...
a week ago
Altos reports that active single-family inventory was down 2.4% week-over-week.
Inventory will continue to decline seasonally and probably bottom in late January or February.
The first graph shows the seasonal pattern for active single-family inventory since 2015.
Click...
Commoncog
Announcing the Commoncog Case Library Public Beta
We're testing a cognitive flexibility theory-driven learning library, designed to accelerate...
over a year ago
We're testing a cognitive flexibility theory-driven learning library, designed to accelerate business expertise. Find out more.
Citation Needed
Sam Bankman-Fried wants only six years for his "victimless" crime
Sam Bankman-Fried maintains that his crimes were victimless and resulted in zero losses, and...
9 months ago
Sam Bankman-Fried maintains that his crimes were victimless and resulted in zero losses, and therefore warrant only six years of imprisonment. Prosecutors argue that 40–50 years are justified.
Calculated Risk
MBA: Mortgage Applications Increased in Weekly Survey
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications...
4 days ago
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 33.3 percent from one
week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage
Applications Survey for the week ending January 10, 2025....
Mazdak
The Future of Healthcare: Your AI Health Pod is Here! 🩺
Get ready for a revolution in healthcare! Say goodbye to long waits and crowded waiting rooms, and...
a year ago
Get ready for a revolution in healthcare! Say goodbye to long waits and crowded waiting rooms, and hello to the CarePod, your self-contained doctor's office powered by artificial intelligence. Imagine: Stepping into a futuristic pod at your local mall, gym, or even office...
Calculated Risk
BLS: CPI Increased 0.4% in December; Core CPI increased 0.2%
From the BLS:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a...
4 days ago
From the BLS:
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a seasonally adjusted basis
in December, after rising 0.3 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the
last 12 months, the all items index...
Moneyness
Memecoins are the point
Cypherpunks wanted to change the world. We ended up with memecoins.
Our story begins with some very...
2 months ago
Cypherpunks wanted to change the world. We ended up with memecoins.
Our story begins with some very smart and idealistic developers, known as cypherpunks, creating a new technology know as a blockchain. Blockchains are databases, but decentralized. Advertised as being...
Citation Needed
Issue 68 – Opportunity agenda
Harris shouts out crypto in her “Opportunity Agenda for Black Men”, one crypto exec leaves prison as...
3 months ago
Harris shouts out crypto in her “Opportunity Agenda for Black Men”, one crypto exec leaves prison as another enters, and Stand With Crypto bets on the favorites.
Moneyness
Coinbase: "What if we call them rewards instead of interest payments?"
Here's a question for you: which U.S. financial institutions are legally permitted to pay interest...
a year ago
Here's a question for you: which U.S. financial institutions are legally permitted to pay interest to retail customers?
We can get an answer by canvassing the range of entities currently offering interest-paying dollar accounts to U.S. retail customers. It pretty much boils...
The Diff
How High Does AI's Revenue Per User Get?
Plus! The Challenges of Scaling Challengers; The Reddit Loop; Scaling AI by Doing Things That Don't...
a month ago
Plus! The Challenges of Scaling Challengers; The Reddit Loop; Scaling AI by Doing Things That Don't Scale Yet; Complete Markets; Legitimacy and Growth
Mazdak
More Creators Can Now Make Money on YouTube
YouTube Lowers Monetization Requirements for Creators. New Twitter CEO Linda Yaccarino Sets Out...
a year ago
YouTube Lowers Monetization Requirements for Creators. New Twitter CEO Linda Yaccarino Sets Out Vision for the Platform. YouTube Makes It Easier for Small Creators to Earn Money YouTube is lowering the eligibility requirements for creators to make money from their channels....
Mazdak
5 best investments during high interest rates
Interest rates are rising, and that means it's time to rethink your investment strategy. When...
a year ago
Interest rates are rising, and that means it's time to rethink your investment strategy. When interest rates rise, the value of existing bonds declines, and stocks can become more volatile. However, there are still a number of investments that can perform well in a high interest...
The Rational Walk
Stepping into the River
Just like no man steps into the same river twice, reading a worthwhile book multiple times continues...
2 months ago
Just like no man steps into the same river twice, reading a worthwhile book multiple times continues to yield new insights over the years.
Citation Needed
We can have a different web
Many yearn for the “good old days” of the web. We could have those good old days back — or something...
8 months ago
Many yearn for the “good old days” of the web. We could have those good old days back — or something even better — and if anything, it would be easier now than it ever was.
Seeking Wisdom
Attention is all you need – Part 2
This is the 11th and final post in my series on building a toy GPT. Read my earlier posts first for...
a year ago
This is the 11th and final post in my series on building a toy GPT. Read my earlier posts first for better understanding. I concluded the previous post by explaining how Attention works. You can download the Excel sheet and Python code that explains how Attention from here and...
Calculated Risk
Housing Starts Decreased to 1.289 million Annual Rate in November
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Decreased to 1.289 million...
a month ago
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Decreased to 1.289 million Annual Rate in November
A brief excerpt:
Total housing starts in November were below expectations, however, starts in September and October were revised up slightly, combined.
Total...
Mazdak
Apple & Google Face Mounting Threats to $500 Billion Market
The $500 billion app store market, which has been a cash cow for Apple and Google for years, is...
a year ago
The $500 billion app store market, which has been a cash cow for Apple and Google for years, is facing a growing number of threats. A recent court ruling against Google and new regulations in Europe and Asia could force the two tech giants to open up their app stores to more...
The Rational Walk
The Digest #168
Charles F. Feeney's philanthropy, Howard Marks makes the case for credit, Spin-offs, Birkenstock's...
a year ago
Charles F. Feeney's philanthropy, Howard Marks makes the case for credit, Spin-offs, Birkenstock's IPO, Costco's clothing, Todd Combs interview, Equifax, and more ...
Commoncog
One Definition of Wisdom
Charlie Munger’s biggest business mistake, and what it tells us about wisdom.
11 months ago
Charlie Munger’s biggest business mistake, and what it tells us about wisdom.
Mazdak
Open Source AI Takes Center Stage: A New Alliance Challenges Tech Giants 🤖
In a bold move to challenge the dominance of closed AI models, a new global alliance for AI open...
a year ago
In a bold move to challenge the dominance of closed AI models, a new global alliance for AI open source development has emerged, firing shots at the likes of OpenAI, Google, and Anthropic. These tech giants have captured much of the AI spotlight in 2023, but the alliance believes...
The Rational Walk
Inflation Expectations
There's no reason for anyone to care what I think about inflation and interest rates, but readers...
10 months ago
There's no reason for anyone to care what I think about inflation and interest rates, but readers should pay close attention to Warren Buffett's statements and actions.
The Rational Walk
Paid Subscriptions
The reasons behind my decision to discontinue paid subscriptions.
9 months ago
The reasons behind my decision to discontinue paid subscriptions.
balajis.com
Global Crypto Regulation: Who’s Hot and Who’s Not?
Global crypto regulation is confusing. So I surveyed the information available and created a...
over a year ago
Global crypto regulation is confusing. So I surveyed the information available and created a heatmap.
Farnam Street
Evaluating Information: Find the Signal in the Noise
We are drowning in information. Most of that information is irrelevant. If only we could sort what...
over a year ago
We are drowning in information. Most of that information is irrelevant. If only we could sort what matters from what doesn’t. The good news is that you can train your brain to evaluate the quality of information. Not only can you quickly determine if someone knows what they are...
Calculated Risk
FOMC Projections
Statement here.
press conference video here or on YouTube here, starting at 2:30 PM...
a month ago
Statement here.
press conference video here or on YouTube here, starting at 2:30 PM ET.
projections. Since the last projections were released, economic growth has been above expectations, the unemployment rate is below expectations, and inflation close to expectations (although...
Calculated Risk
Case-Shiller: National House Price Index Up 3.6% year-over-year in October
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up...
2 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 3.6% year-over-year in October
S&P/Case-Shiller released the monthly Home Price Indices for October ("October" is a 3-month average of August, September and October closing prices). ...
The Rational Walk
Berkshire Hathaway’s Q2 2023 Results
Thoughts on Berkshire Hathaway's second quarter results with a focus on GEICO, BNSF, HomeServices,...
a year ago
Thoughts on Berkshire Hathaway's second quarter results with a focus on GEICO, BNSF, HomeServices, Clayton Homes, Apple, and share repurchases.
Moneyness
Kraken v Kraken, or how to protect the public from crypto exchange failures
It's been a full year since FTX International and FTX-US collapsed, and the shocking thing is –...
a year ago
It's been a full year since FTX International and FTX-US collapsed, and the shocking thing is – there is still no regulated crypto venue in the U.S.! You'd think some lessons would have been learnt.
To best protect the public from the Sam Bankman-Frieds of the world, what the...
Mazdak
Binance CEO Steps Down and Pleads Guilty as Part of $4.3 Billion Settlement
Binance is the world's largest crypto exchange, and CEO Changpeng "CZ" Zhao is the most powerful...
a year ago
Binance is the world's largest crypto exchange, and CEO Changpeng "CZ" Zhao is the most powerful player in the industry. This deal puts an end to a years-long investigation into Binance. The deal: CZ agreed to pay $50 million in fines and is prohibited from operating or managing...
Moneyness
The effects of Russian sanctions as portrayed in YouTube videos
Last month American provocateur Tucker Carlson visited a Russian grocery store. Because it was...
9 months ago
Last month American provocateur Tucker Carlson visited a Russian grocery store. Because it was filled to the brim with food, Carlson claims that western sanctions placed on Russia aren't having an effect. "We've been told sanctions on Russia have had a devastating effect on its
...
Commoncog
A Most Unlikely Master of Capital Allocation
If the most unlikely, most un-businesslike person could become a masterful capital allocator late in...
a year ago
If the most unlikely, most un-businesslike person could become a masterful capital allocator late in her life, then perhaps you could, too.
balajis.com
The Balaji Newsletter
A single place for all updates at balajis.com
a year ago
A single place for all updates at balajis.com
Mazdak
Protect Your iPhone: Apple Introduces Stolen Device Protection
Apple is taking a stand against iPhone theft with a new security feature called Stolen Device...
a year ago
Apple is taking a stand against iPhone theft with a new security feature called Stolen Device Protection, currently available to beta testers. This feature adds an extra layer of protection to your personal information and financial data, making it more difficult for thieves to...
The Rational Walk
The Sad Irons
During the depths of the Great Depression, Lyndon Johnson was determined to electrify the Texas Hill...
a year ago
During the depths of the Great Depression, Lyndon Johnson was determined to electrify the Texas Hill Country. Success was integral to his path to greater power.
Musings on Markets
Putting the (Insta)cart before the (Grocery) horse: A COVID Favorite's Reality Check!
After years of rumors of an imminent IPO, Instacart has finally filed for a public offering of it’s...
a year ago
After years of rumors of an imminent IPO, Instacart has finally filed for a public offering of it’s shares, aspiring to raise about $600 million from markets, at a pricing of about $9-$10 billion for its equity. Coming in the week after ARM, an AI chip designer, also filed to go...
Calculated Risk
NAR: Existing-Home Sales Increased to 4.15 million SAAR in November
From the NAR: Existing-Home Sales Elevated 4.8% in November; Post Strongest Year-Over-Year Increase...
a month ago
From the NAR: Existing-Home Sales Elevated 4.8% in November; Post Strongest Year-Over-Year Increase Since June 2021
Existing-home sales grew in November, according to the National Association of Realtors®. Sales advanced in three major U.S. regions and remained steady in the...
The Rational Walk
The Digest #202
George Washington on debt, Superinvestors of micro-caps, BYD, OXY/BHE joint venture, Imposter...
7 months ago
George Washington on debt, Superinvestors of micro-caps, BYD, OXY/BHE joint venture, Imposter syndrome, Decline of higher education, Howard Schultz, Cathie Wood, Robert Hagstrom
The Rational Walk
Berkshire Hathaway’s 2024 Proxy Statement
This article contains commentary on Berkshire Hathaway's latest proxy statement focusing on skin in...
10 months ago
This article contains commentary on Berkshire Hathaway's latest proxy statement focusing on skin in the game, repurchase activity, and stock based compensation.
Calculated Risk
Question #2 for 2025: How much will job growth slow in 2025? Or will the economy lose jobs?
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of...
a week ago
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment will...
Musings on Markets
Good Intentions, Perverse Outcomes: The Impact of Impact Investing!
I have made no secret of my disdain for ESG, an over-hyped and over-sold acronym, that has been a...
a year ago
I have made no secret of my disdain for ESG, an over-hyped and over-sold acronym, that has been a gravy train for a whole host of players, including fund managers, consultants and academics. In response, I have been told that the problem is not with the idea of ESG, but in its...
The Rational Walk
A Dangerous Interregnum
President Biden's decision to allow Ukraine to fire American missiles deep into Russian territory...
2 months ago
President Biden's decision to allow Ukraine to fire American missiles deep into Russian territory risks plunging the world into crisis in the finals months of his administration.
Calculated Risk
Part 2: Current State of the Housing Market; Overview for mid-January 2025
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market;...
4 days ago
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-January 2025
A brief excerpt:
Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-January 2025 I reviewed home inventory, housing starts...
FIRE v London
May ’24: UK election called
The month of May seems a little while ago, so I’d better get on and write it up. This will be quick....
7 months ago
The month of May seems a little while ago, so I’d better get on and write it up. This will be quick. The big news in the UK was Rishi Sunak, the outgoing PM, calling a general election for 4 July. Independence-from-the-Tories Day. May was also the month that u-turner/blowharder...
Calculated Risk
Lawler: Interest Rates Since the Federal Reserve Began Cutting Rates
From housing economist Tom Lawler:
Click on graph for larger image.
10-Year T1PS Yield
3 weeks ago
From housing economist Tom Lawler:
Click on graph for larger image.
10-Year T1PS Yield
Calculated Risk
Two Bank Failures in 2024
There were four bank failures in 2024. The median number of failures since the FDIC was established...
5 days ago
There were four bank failures in 2024. The median number of failures since the FDIC was established in 1933 was 7 - so 2 failures in 2024 was below the median.
Click on graph for larger image.
The second graph includes pre-FDIC failures. In a typical year - before the...
The Rational Walk
The Digest #213
Berkshire's Trillion Dollar Milestone, Will Buffett attempt to acquire Chubb?, Intel's Prospects,...
4 months ago
Berkshire's Trillion Dollar Milestone, Will Buffett attempt to acquire Chubb?, Intel's Prospects, Personal Bots, Bitcoin, AI vs. Reality, "Useless" Knowledge, Jay Bowen, Rudy Havenstein
Musings on Markets
Market Bipolarity: Exuberance versus Exhaustion!
As we enter the last quarter of 2023, it has been a roller coaster of a year. We started the year...
a year ago
As we enter the last quarter of 2023, it has been a roller coaster of a year. We started the year with significant uncertainty about whether the surge in inflation seen in 2022 would persist as well as about whether the economy was headed into a recession. In the first half of...
The Rational Walk
The Digest #192
Unpopular large companies, Dopamine culture, Buffett's cheapest stock, Investing in vertical SaaS,...
10 months ago
Unpopular large companies, Dopamine culture, Buffett's cheapest stock, Investing in vertical SaaS, The bear case for China, Chris Davis, Michael Mauboussin
balajis.com
Gil Duran Faked A Quote For the New Republic
Then they stealth edited the piece. They knew they'd committed libel.
8 months ago
Then they stealth edited the piece. They knew they'd committed libel.
Musings on Markets
A Zomato 2022 Update: Value, Pricing and the Gap
On July 21, 2021, I valued Zomato just ahead of its initial public offering at about ₹41 per share....
over a year ago
On July 21, 2021, I valued Zomato just ahead of its initial public offering at about ₹41 per share. The market clearly had a very different view, as the stock premiered at ₹74 per share and soared into the stratosphere, peaking at ₹169 per share in late 2021. The last few months...
FIRE v London
Apr ’23: Wind and windfalls
April saw the season of long weekends begin here in the UK. Easter saw me inspired by the Ermine to...
a year ago
April saw the season of long weekends begin here in the UK. Easter saw me inspired by the Ermine to check out Dorset’s Chesil beach. We struck lucky with the weather and had a fine, distinctly non-London, time, over a very blustery Easter weekend. My walking shoes seem to have...
Calculated Risk
Final Look at Local Housing Markets in November and a Look Ahead to December Sales
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in...
2 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in November and a Look Ahead to December Sales
A brief excerpt:
After the National Association of Realtors® (NAR) releases the monthly existing home sales report, I pick up additional local...
The Diff
Infrastructure on top of Infrastructure
Plus! AI as an Interface; AI and Property Rights; Covering an EV Short Position; Heterogeneous...
a month ago
Plus! AI as an Interface; AI and Property Rights; Covering an EV Short Position; Heterogeneous Consumption Baskets as Subtle Union-Busting; Second-Order Effects
Mazdak
OpenAI's Meltdown: A Fight for the Future of AI
The recent turmoil at OpenAI, sparked by the abrupt firing of CEO Sam Altman, has far-reaching...
a year ago
The recent turmoil at OpenAI, sparked by the abrupt firing of CEO Sam Altman, has far-reaching implications for the future of artificial intelligence (AI). OpenAI, known for its groundbreaking ChatGPT technology, is considered a frontrunner in the AI race, and its fate could...
Citation Needed
Issue 54 – Cases continue
Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two...
9 months ago
Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two other cases against crypto companies have survived motions to dismiss.
Calculated Risk
Cleveland Fed: Median CPI increased 0.3% and Trimmed-mean CPI increased 0.3% in November
The Cleveland Fed released the median CPI and the trimmed-mean CPI.
Click on graph for larger...
4 days ago
The Cleveland Fed released the median CPI and the trimmed-mean CPI.
Click on graph for larger image.
On a year-over-year basis, the median CPI rose 3.8% (down from 3.9% YoY in November), the trimmed-mean CPI rose 3.2% (down slightly from 3.2%), and the CPI less food and energy...
Calculated Risk
December 27th COVID Update: COVID in Wastewater Increasing
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm...
3 weeks ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly.
Note: "Effective May 1, 2024, hospitals are no longer required to report...
Mazdak
Google & Microsoft $1M donation to Trump inauguration fund, Microsoft job cuts, Amazon ad business...
Google, Microsoft, Meta, OpenAI, and even Tim Cook are each donating $1M to President-elect Trump’s...
a week ago
Google, Microsoft, Meta, OpenAI, and even Tim Cook are each donating $1M to President-elect Trump’s inauguration fund.
Mazdak
Elon Musk Lashes Out at Advertisers Leaving X
⚡️ Musk's Fiery Response to Advertiser Exodus 💥 "Go Fk Yourself," Musk Says to Advertisers** 🚀 X...
a year ago
⚡️ Musk's Fiery Response to Advertiser Exodus 💥 "Go Fk Yourself," Musk Says to Advertisers** 🚀 X CEO Defiant Amidst Advertising Boycott In a fiery exchange at the 2023 DealBook Summit in New York, Elon Musk unleashed a barrage of profanity at advertisers who have pulled their...
Calculated Risk
Inflation Adjusted House Prices 1.3% Below 2022 Peak; Price-to-rent index is 8.1% below 2022 peak
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.3% Below...
2 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.3% Below 2022 Peak
It has been over 18 years since the housing bubble peak. In the October Case-Shiller house price index released earlier this week, the seasonally adjusted National Index...
Calculated Risk
Thursday: National Day of Mourning for former President Jimmy Carter, Unemployment Claims
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Thursday:
NYSE...
a week ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Thursday:
NYSE and the NASDAQ will be closed in observance of a National Day of Mourning for former President Jimmy Carter.
Small Business Optimism Index for December.
initial weekly unemployment...
Citation Needed
Wind the clock
A message to those asking “what do I do now?”
2 months ago
A message to those asking “what do I do now?”
The Diff
Longreads + Open Thread
Shanghai, Wrong, Returns, Nuclear, Employee Performance, Feedback Loops, Buffett
a month ago
Shanghai, Wrong, Returns, Nuclear, Employee Performance, Feedback Loops, Buffett
Mazdak
Inside xAI: Musk vs. OpenAI
Elon Musk is on a mission to create the world's most powerful AI, and he's not afraid to take on his...
a month ago
Elon Musk is on a mission to create the world's most powerful AI, and he's not afraid to take on his former company, OpenAI, to do it.
Calculated Risk
Real Estate Newsletter Articles this Week: Apartment Vacancy Rate Increased in Q4
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Moody's:...
a week ago
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Moody's: Apartment Vacancy Rate Increased in Q4; Office Vacancy Rate at Record High
1st Look at Local Housing Markets in December
Asking Rents Mostly Unchanged Year-over-year
Update: The...
Mazdak
The AI Arms Race: A Billion-Dollar Battle for the Future of Intelligence
It's not just about building the next big app anymore. In the heart of Silicon Valley, a new arms...
a year ago
It's not just about building the next big app anymore. In the heart of Silicon Valley, a new arms race is heating up, and the stakes couldn't be higher. This isn't a battle fought with tanks and missiles, but with lines of code and the raw processing power of artificial...
Moneyness
How PayPal can use stablecoins to avoid AML requirements and make big profits
There's a new financial loophole in town: stablecoins. Stablecoins are dollar, yen, or pound-based...
10 months ago
There's a new financial loophole in town: stablecoins. Stablecoins are dollar, yen, or pound-based payments platforms that are built using crypto database technology.
Financial institutions are always looking for loopholes to game the system. Typically this has meant avoiding...
Commoncog
Executing on Becoming Data Driven: The Technicals
A technical overview of how I'm applying the methods and ideas of the Becoming Data Driven in...
a year ago
A technical overview of how I'm applying the methods and ideas of the Becoming Data Driven in Business series.
Mazdak
Tech Today - Apple Smart Home Camera
Subscribe to our newsletter at Mazdak.com
2 months ago
Subscribe to our newsletter at Mazdak.com
Commoncog
Learning About Moats the Hard Way
How even legendary conglomerator Henry Singleton got caught out by competitive arbitrage at the end...
7 months ago
How even legendary conglomerator Henry Singleton got caught out by competitive arbitrage at the end of his career.
Mazdak
Decentralization Debate: Unpacking Bluesky's Architecture
Is Bluesky REALLY decentralized? Join us as we analyze Bluesky's architecture and discuss whether it...
a month ago
Is Bluesky REALLY decentralized? Join us as we analyze Bluesky's architecture and discuss whether it truly lives up to the hype.
Calculated Risk
Schedule for Week of January 12, 2024
The key reports this week are December CPI, retail sales, and housing starts.
----- Monday, January...
a week ago
The key reports this week are December CPI, retail sales, and housing starts.
----- Monday, January 13th -----
No major economic releases scheduled.
----- Tuesday, January 14th -----
6:00 AM: NFIB Small Business Optimism Index for December.
Producer Price Index for December...
The Rational Walk
The Digest #169
Apple Watch, Musical Chairs at Dollar General, IPOs, Impact Investing, Buffett in 1988, Mapping the...
a year ago
Apple Watch, Musical Chairs at Dollar General, IPOs, Impact Investing, Buffett in 1988, Mapping the human brain, Interviews of Nassim Taleb, Jensen Huang, John and Patrick Collison, and more ...
The Rational Walk
The Digest #188
Manufacturing time, Apple Vision Pro, Access journalism, Henry Ford's $5/hr wage, Sharing investment...
11 months ago
Manufacturing time, Apple Vision Pro, Access journalism, Henry Ford's $5/hr wage, Sharing investment ideas, Insurance brokerages, Katalin Karikó’s autobiography, John Randolph of Roanoke
Mazdak
Trudeau's resignation, Dana White joining Meta's board, YouTube taking on TikTok, SuperIntelligence...
After nearly a decade in leadership, Justin Trudeau announced his decision to step down as Prime...
a week ago
After nearly a decade in leadership, Justin Trudeau announced his decision to step down as Prime Minister of Canada.
Citation Needed
The stones left unturned in the Sam Bankman-Fried trial
From billions of mysterious Tethers to the apparent identity theft of Thai sex workers, many...
a year ago
From billions of mysterious Tethers to the apparent identity theft of Thai sex workers, many questions remain about what happened at Bankman-Fried's crypto empire.
Commoncog
Under The Hood
How do you shape employee culture? How do you win employee commitment? Under The Hood has a coherent...
2 months ago
How do you shape employee culture? How do you win employee commitment? Under The Hood has a coherent model for building this skill.
Mazdak
Regulating Crypto
Eighteen states are suing the SEC over Biden's crypto crackdown. Is this the beginning of the end...
2 months ago
Eighteen states are suing the SEC over Biden's crypto crackdown. Is this the beginning of the end for crypto, or a necessary step towards mainstream adoption?
Mazdak
TFSA 2025: Your Complete Guide to Tax-Free Savings in Canada
In the ever-evolving landscape of personal finance, the Tax-Free Savings Account (TFSA) continues to...
a month ago
In the ever-evolving landscape of personal finance, the Tax-Free Savings Account (TFSA) continues to be a bright spot for Canadian investors.
Citation Needed
Issue 51 – It's quiet... too quiet
It's been a quiet few weeks in the world of crypto disasters... too quiet.
11 months ago
It's been a quiet few weeks in the world of crypto disasters... too quiet.
Commoncog
Cultural Advantage is Counter Positioning
Competitive advantages in business that come from cultural differences tend to be...
over a year ago
Competitive advantages in business that come from cultural differences tend to be counter-positioning, not process power. Why this is surprising, and why it matters.
The Rational Walk
Superinvestor Portfolio Changes — Q3 2023
A few observations based on recent 13F filings, with a focus on Berkshire Hathaway, Dollar General,...
a year ago
A few observations based on recent 13F filings, with a focus on Berkshire Hathaway, Dollar General, Markel, and Semper Augustus.
Musings on Markets
META Lesson 1: Corporate Governance
As we get deeper into earnings season for the third quarter of 2022, the biggest negative surprises...
over a year ago
As we get deeper into earnings season for the third quarter of 2022, the biggest negative surprises are coming from technology companies, with the tech giants leading the way. Investors, used to a decade of better-than-expected earnings and rising stock prices at these companies,...
Commoncog
What Rigorous Process Improvement in Education Looks Like
What an rigorous trial and error looks like when applied to improving disadvantaged student outcomes...
3 months ago
What an rigorous trial and error looks like when applied to improving disadvantaged student outcomes ... and why you should do this in your own organisational contexts.
Bits about Money
Money laundering and AML compliance
A brief overview of what money laundering is, what financial institutions do about it, and why.
a year ago
A brief overview of what money laundering is, what financial institutions do about it, and why.
balajis.com
The Network State Book
A book by Balaji S. Srinivasan (@balajis) on how to start a new country. Now available for preorder...
over a year ago
A book by Balaji S. Srinivasan (@balajis) on how to start a new country. Now available for preorder on Amazon.
The Rational Walk
In the Zone
Biohacking can be taken too far, but the intelligent use of modern technology has the potential to...
8 months ago
Biohacking can be taken too far, but the intelligent use of modern technology has the potential to provide valuable insights about our health.
Citation Needed
"The Monkey Fraud": An interview with Ryder Ripps
An interview with Ryder Ripps, a defendant in the Yuga Labs v. Ripps case about Bored Ape Yacht Club...
9 months ago
An interview with Ryder Ripps, a defendant in the Yuga Labs v. Ripps case about Bored Ape Yacht Club trademark infringement and racism.
Musings on Markets
Data Update 2 for 2023: A Rocky Year for Equities!
It is the nature of stocks that you have good years and bad ones, and much as we like to forget...
a year ago
It is the nature of stocks that you have good years and bad ones, and much as we like to forget about the latter during market booms, they recur at regular intervals, if for no other reason than to remind us that risk is not an abstraction, and that stocks don't always win, even...
FIRE v London
July ’24: New UK government
July has been quite a busy month. I’ve been getting about a bit. Some South Coast action, some...
5 months ago
July has been quite a busy month. I’ve been getting about a bit. Some South Coast action, some Mediterranean fun, a trip up to Oxford, a visit to one of England’s great Cathedrals, and more. And July saw some fine times in London. Both outdoors and inside. And of course we had...
Commoncog
Colin Bryar on the practice of Amazon's Weekly Business Review
Cedric talks to Colin Bryar, early Amazon executive and former shadow to Jeff Bezos, on one of...
a year ago
Cedric talks to Colin Bryar, early Amazon executive and former shadow to Jeff Bezos, on one of Amazon's secret operational weapons: the Weekly Business Review.
The Rational Walk
Pilot’s Founders vs. Berkshire Hathaway
Warren Buffett's reputation as a straight shooter is called into question by the Haslam family in a...
a year ago
Warren Buffett's reputation as a straight shooter is called into question by the Haslam family in a dispute over the valuation of their remaining 20% interest.
The Rational Walk
The Digest #220
The Intelligent Investor, Antitrust and Big Tech, Berkshire Hathaway's Moat, Nuclear War Risks, The...
2 months ago
The Intelligent Investor, Antitrust and Big Tech, Berkshire Hathaway's Moat, Nuclear War Risks, The Invisible Man, AIG's Rise & Fall, Housing Prices, Barbary Wars, Speeches of Pericles
Commoncog
The Shape of a Technological Window
Technological Windows is Steve Jobs's conception of the game of consumer technology. We look at how...
over a year ago
Technological Windows is Steve Jobs's conception of the game of consumer technology. We look at how he used it over the course of his career. Note: this is a follow-up to and an update for the Commoncog Case Library Beta.
The Diff
Meme Markets
Plus! Equity Comp, Squared; Venture Debt; 5%; Crypto Leverage; Closed-End Funds
2 days ago
Plus! Equity Comp, Squared; Venture Debt; 5%; Crypto Leverage; Closed-End Funds
Mazdak
Move Your Business Abroad: A Step-by-Step Guide for Entrepreneurs
Expanding your business abroad can be a great way to reach new markets, increase revenue, and...
a year ago
Expanding your business abroad can be a great way to reach new markets, increase revenue, and diversify your portfolio. However, it's important to do your research and take the necessary steps to ensure a successful transition. Here are some practical tips for entrepreneurs...
Calculated Risk
Tuesday: Trade Deficit, Job Openings, ISM Services
From Matthew Graham at Mortgage News Daily: Mortgage Rates Barely Budge to Start New Week
The bond...
a week ago
From Matthew Graham at Mortgage News Daily: Mortgage Rates Barely Budge to Start New Week
The bond market and interest rates have arrived at the first full week of the new year almost exactly where they left off before the X-mas/New Year holiday weeks. ... Although the past 2...
Calculated Risk
YoY Measures of Inflation: Services, Goods and Shelter
Here are a few measures of inflation:
Click on graph for larger image.
Services were up 4.4% YoY as...
4 days ago
Here are a few measures of inflation:
Click on graph for larger image.
Services were up 4.4% YoY as of December 2024, down from 4.5% YoY in November.
The second graph shows that goods prices started to increase year-over-year (YoY) in 2020 and accelerated in 2021 due to both...
Commoncog
Is This a Moat: Mailchimp and PayPal’s Algorithmic Advantage
Two case studies of real world competitive advantage, followed by a question: was this a moat or...
over a year ago
Two case studies of real world competitive advantage, followed by a question: was this a moat or not?
Citation Needed
POSSE: Reclaiming social media in a fragmented world
A simple technique offers the best of both worlds: total control over your own work, while still...
3 months ago
A simple technique offers the best of both worlds: total control over your own work, while still maintaining a presence on third-party platforms.
The Rational Walk
The Digest #179
Guard your time, Tributes to Charlie Munger, Social media traps, The margin of illusion, AI...
a year ago
Guard your time, Tributes to Charlie Munger, Social media traps, The margin of illusion, AI colonoscopies, Advice on tipping, Alcohol and cardiovascular risks, Nicomachean ethics
Commoncog
The Limits of Operational Excellence
An answer to a puzzle: why is that some businesses go down the Deming path, become data driven,...
9 months ago
An answer to a puzzle: why is that some businesses go down the Deming path, become data driven, achieve operational excellence, and die, and others acquire Process Power and win?
Calculated Risk
Thursday: Unemployment Claims, Construction Spending
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Mortgage rates...
2 weeks ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Mortgage rates as of Monday (a little lower on Tuesday).
mortgage purchase applications index.
initial weekly unemployment claims report will be released. The consensus is for an increase to 223...
Moneyness
Are the sanctions on Russia working?
I very much enjoy economist Robin Brooks's tweets, especially his charts showing how sanctions...
10 months ago
I very much enjoy economist Robin Brooks's tweets, especially his charts showing how sanctions imposed on Russia have affected regional trade patterns. While direct trade between Europe and Russia has collapsed thanks to Russia's invasion of Ukraine and subsequent sanctions, the...
Moneyness
Why bitcoiners should learn to accept bitcoin's ponzi nature as a good thing
When I describe bitcoin as a type of ponzi or pyramid, idealistic bitcoiners usually view this as an...
a year ago
When I describe bitcoin as a type of ponzi or pyramid, idealistic bitcoiners usually view this as an attack on the nobility of the bitcoin project. But they shouldn't. Bitcoin's ponzi nature is one of its greatest strength.
Imagine that you are trying to bootstrap an unorthodox...
Commoncog
Focus Is Saying No To Good Ideas
Several stories about one of the hardest maxims to put to practice in business.
over a year ago
Several stories about one of the hardest maxims to put to practice in business.
Citation Needed
Issue 66 – Pretensions to relevance
FTX fraudster Sam Bankman-Fried says he wants a do-over just as Celsius fraudster Alex Mashinsky...
4 months ago
FTX fraudster Sam Bankman-Fried says he wants a do-over just as Celsius fraudster Alex Mashinsky goes to trial, and some more ill-received blockchain games suggest “GameFi” has an uncertain future.
Farnam Street
Why Write
Why write an essay when you can type a few words and have AI generate one for you? Why write an...
a year ago
Why write an essay when you can type a few words and have AI generate one for you? Why write an email when AI can auto-respond for you with all the typical pleasantries and talking-points? While AI doing these things for you is likely to happen, it’s not necessarily a good thing....
Bits about Money
Financial systems take a holiday
Ever wondered about what happens when banks are closed or why some apps have operating hours? It's...
10 months ago
Ever wondered about what happens when banks are closed or why some apps have operating hours? It's fascinating.
The Diff
Longreads + Open Thread
Kotkin, Luttwak, Poker, DRW, PCs, Statistics, AI, Hamilton
a month ago
Kotkin, Luttwak, Poker, DRW, PCs, Statistics, AI, Hamilton
Moneyness
Monetagium
An English penny minted by William the Conqueror, who brought monetagium to England. Source: History...
7 months ago
An English penny minted by William the Conqueror, who brought monetagium to England. Source: History in Coins
The way that a modern mafia protection racket works is the mafia starts doing very bad things to regular folks, say you and your business. To stop the damage, you pay...
Moneyness
Another Indian payments idea: a lightweight portable payments system for catastrophes
India is so far ahead of most of the world when it comes to payments technology that when a new...
a year ago
India is so far ahead of most of the world when it comes to payments technology that when a new Indian payments idea emerges, we should probably pay attention.
In its recent annual report, the Reserve Bank of India, the country's central bank, put forward the idea of a...
The Rational Walk
Daily Journal: The Canary in the Coal Mine?
Daily Journal and Berkshire Hathaway have little in common aside from Charlie Munger's influence....
7 months ago
Daily Journal and Berkshire Hathaway have little in common aside from Charlie Munger's influence. Recent development at Daily Journal raise concerns.
Citation Needed
Issue 70 – The Cryptocurrency States of America
Crypto’s efforts to buy the 2024 elections paid off, and we’re in for a bumpy ride.
2 months ago
Crypto’s efforts to buy the 2024 elections paid off, and we’re in for a bumpy ride.
The Rational Walk
Measuring Competence
Measuring competence is straight forward in many fields, such as carpentry and dentistry, but not as...
3 months ago
Measuring competence is straight forward in many fields, such as carpentry and dentistry, but not as clear when it comes to investing.
Musings on Markets
Data Update 5 for 2024: Profitability - The End Game for Business?
In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free...
11 months ago
In my last three posts, I looked at the macro (equity risk premiums, default spreads, risk free rates) and micro (company risk measures) that feed into the expected returns we demand on investments, and argued that these expected returns become hurdle rates for businesses, in the...
Commoncog
Lia DiBello and Neil Sahota on Human-AI Symbiosis
Lia DiBello and Neil Sahota join Cedric Chin to talk about a human-first, expertise-oriented...
6 days ago
Lia DiBello and Neil Sahota join Cedric Chin to talk about a human-first, expertise-oriented approach to AI in real world domains.
The Rational Walk
Berkshire Hathaway’s Q3 2023 Results — Manufacturing, Service, and Retailing
A review of Berkshire's large collection of non-insurance operating businesses, with a focus on...
a year ago
A review of Berkshire's large collection of non-insurance operating businesses, with a focus on results in Q3 2023 as well as a longer term view.
Mazdak
Waymo in Japan, Veo 2 AI video, Snapchat Monetization ...
Google DeepMind has upped the game in AI video generation.
a month ago
Google DeepMind has upped the game in AI video generation.
Musings on Markets
The Power of Expectations: Nvidia's Earnings and the Market Reaction!
Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled...
4 months ago
Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled for after the market closed. That call, at first sight, contained exceptionally good news, with revenues and earnings coming in at stratospheric levels, and above expectations,...
balajis.com
Network State Conference 2023
Come to Amsterdam on October 30, 2023 to build the parallel establishment.
a year ago
Come to Amsterdam on October 30, 2023 to build the parallel establishment.
Calculated Risk
December Employment Preview
On Friday at 8:30 AM ET, the BLS will release the employment report for December. The consensus is...
a week ago
On Friday at 8:30 AM ET, the BLS will release the employment report for December. The consensus is for 160,000 jobs added, and for the unemployment rate to be unchanged at 4.2%.
From Goldman Sachs:
We expect a below-consensus 125k increase in payrolls (vs. +160k consensus) in...
The Rational Walk
The Digest #218
Books I read during Q3, Hurricane insurance claims, Berkshire's troubled railroad, Nike's troubles,...
3 months ago
Books I read during Q3, Hurricane insurance claims, Berkshire's troubled railroad, Nike's troubles, Doing what you love, Human aging, Ray Ozzie on intelligent machines, Aesop's Fables
Commoncog
The 2024 Commoncog Recap
Everything that we covered in 2024, and what to expect in the coming year.
a week ago
Everything that we covered in 2024, and what to expect in the coming year.
Seeking Wisdom
Case for indexing
Warren Buffet made a compelling case in favor of indexing in the 2021 Berkshire Hathaway’s AGM. In...
a year ago
Warren Buffet made a compelling case in favor of indexing in the 2021 Berkshire Hathaway’s AGM. In 1989, 65% of the top 20 global companies were domiciled in Japan. After three decades, 65% of the top 20 global companies are from the US. No companies from Japan made into the top...
Moneyness
Are flatcoins a good idea?
I'll start with the conclusion. I don't think flatcoins are a good idea.
The idea for flatcoins has...
a year ago
I'll start with the conclusion. I don't think flatcoins are a good idea.
The idea for flatcoins has been around for a while, but it got a wider airing when it popped up in a Coinbase marketing piece from earlier this year. Now, arch-crypto hater Nouriel Roubini has undergone a...
Commoncog
Goodhart's Law Isn't as Useful as You Might Think
Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it....
over a year ago
Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it. We look at how organisations actually prevent Goodhart's Law, and illustrate this with Amazon's Weekly Business Review as an example.
Mazdak
Renting vs. Buying in Canada's Skyrocketing Market: Is Homeownership Still a Golden Ticket?
The Great Canadian Housing Dilemma: Soaring prices and sky-high interest rates have transformed the...
a year ago
The Great Canadian Housing Dilemma: Soaring prices and sky-high interest rates have transformed the dream of homeownership into a distant mirage for many Canadians. But before you resign yourself to renting forever, consider this: owning a home may not be the guaranteed...
Citation Needed
Citation Needed has a new home
Citation Needed is no longer hosted on Substack. Welcome to my antifascist bar.
a year ago
Citation Needed is no longer hosted on Substack. Welcome to my antifascist bar.
Mazdak
The Future of TikTok in the U.S.: What Happens on January 19?
The fate of TikTok in the United States hangs in the balance as we approach January 19.
2 days ago
The fate of TikTok in the United States hangs in the balance as we approach January 19.
Calculated Risk
Q4 GDP Tracking: 2.1% to 3.0% Range
From BofA:
Since our last weekly publication, our 4Q GDP tracking estimate has moved up...
2 days ago
From BofA:
Since our last weekly publication, our 4Q GDP tracking estimate has moved up three-tenths to 2.1% q/q saar. [Jan 17th estimate]
emphasis added
From Goldman:
Following this morning’s data, we boosted our Q4 GDP tracking estimate by 0.1pp to +2.6%...
Calculated Risk
FDIC: Number of Problem Banks Increased Slightly in Q3 2024
The FDIC released the Quarterly Banking Profile for Q3 2024:
The Industry’s Net Income Decreased...
a month ago
The FDIC released the Quarterly Banking Profile for Q3 2024:
The Industry’s Net Income Decreased From the Prior Quarter, Driven by One-Time Items
Asset Quality Metrics Remained Generally Favorable, Though Weakness in Certain Portfolios
Persists
the industry reported the largest...
Citation Needed
Issue 73 – Degen volunteer fire brigade
Terra founder Do Kwon is finally extradited, the CFPB proposes crypto consumer protections, and...
a week ago
Terra founder Do Kwon is finally extradited, the CFPB proposes crypto consumer protections, and Polymarket reaches new lows.
Mazdak
How to Find Great Stocks That Will Make You Money
The stock market can be a great way to grow your wealth over time. However, it's important to know...
a year ago
The stock market can be a great way to grow your wealth over time. However, it's important to know how to find great stocks that will make you money. In this blog post, I will share five key factors to look for when finding great stocks. Factor 1: Strong Revenue Growth
The Rational Walk
Apple’s Dystopian iPad Video
When Steve Jobs spoke about the intersection of liberal arts and technology, he did not envision...
8 months ago
When Steve Jobs spoke about the intersection of liberal arts and technology, he did not envision crushing symbols of art and culture.
Moneyness
How to debase the coinage in order to pay for wars
Henry VIII, after Hans Holbein the Younger
It's fun to imagine traveling back in time and engaging...
a year ago
Henry VIII, after Hans Holbein the Younger
It's fun to imagine traveling back in time and engaging with the then-prevailing technologies. Would you be able to ride a boneshaker or use a counting board? It's probably harder than you think: kids today can't even use a 1980s rotary...
The Rational Walk
Insurance Loss Reserve Estimates
The ability to accurately estimate loss reserves is a core competency for any well-run insurance...
a year ago
The ability to accurately estimate loss reserves is a core competency for any well-run insurance company. Progressive provides a useful case study in loss reserving practices.
Seeking Wisdom
What I Learned from The South Asian Health Solution and wearing a Continuous Glucose Monitor
We all know avocados are healthy, and coke is bad. Yet we can’t help but gulp down a coke with a...
8 months ago
We all know avocados are healthy, and coke is bad. Yet we can’t help but gulp down a coke with a plate full of french fries. It takes an enormous amount of energy to break bad habits. I’ve broken bad habits under two conditions: (a) it’s a do-or-die situation, or (b) you have a...
Commoncog
The Amazon Weekly Business Review
Everything you need to know about the Amazon Weekly Business Review: how it works, why it works, and...
6 months ago
Everything you need to know about the Amazon Weekly Business Review: how it works, why it works, and how it helps Amazon win.
Calculated Risk
January 12th COVID Update: COVID in Wastewater Increasing
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm...
a week ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly.
Note: "Effective May 1, 2024, hospitals are no longer required to report...
Calculated Risk
Real Estate Newsletter Articles this Week: Housing Starts Down 3.9% in 2024 compared to 2023
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Housing...
5 hours ago
At the Calculated Risk Real Estate Newsletter this week:
Click on graph for larger image.
Housing Starts Increased to 1.499 million Annual Rate in December
Housing Discussion with Altos Research's Mike Simonsen
Lawler: Early Read on Existing Home Sales in December
Part 1: Current...
Moneyness
Elon Musk's understanding of payments dates back to his PayPal days. It needs an update
[This is a republication of my most recent CoinDesk opinion piece.]
You've
heard the script...
a year ago
[This is a republication of my most recent CoinDesk opinion piece.]
You've
heard the script before. Migrants need to make payments back home to
their family, but cross-border payments are achingly slow, taking days
to process. Luckily, revolutionary new technologies like...
FIRE v London
Becoming an ISA $millionaire
This time last year I wrote that my annual ISA update was many months late. I had delayed it until...
a year ago
This time last year I wrote that my annual ISA update was many months late. I had delayed it until using my full annual ISA allowance(s), which took me much longer than usual last year. This year I actually completed my ISA topups in April, within a few weeks of the start of the...
The Diff
The Large- and Small-Home Market Advantages
Plus! Who Bears Ban Risk?; Carvana and Short-Selling Economics; VC; Productivity; A More Normal...
2 weeks ago
Plus! Who Bears Ban Risk?; Carvana and Short-Selling Economics; VC; Productivity; A More Normal Economy
Mazdak
Creating a Data-Driven LinkedIn Strategy: A Step-by-Step Guide
One of the most effective ways to succeed on LinkedIn is to create content with purpose, track its...
3 months ago
One of the most effective ways to succeed on LinkedIn is to create content with purpose, track its performance, and adjust based on data.
The Rational Walk
Thucydides
Thucydides is best known for his extensive history of the Peloponnesian War which took place between...
5 months ago
Thucydides is best known for his extensive history of the Peloponnesian War which took place between 431 - 404 BC.
FIRE v London
Compounding, type II
Supposedly Albert Einstein called compounding the 8th wonder of the world. Certainly the wonder of...
2 months ago
Supposedly Albert Einstein called compounding the 8th wonder of the world. Certainly the wonder of compound annual growth rates is something I feel quite viscerally, the more so with each month that I track my portfolio. But I’ve been struck recently by a radical improvement in...
Musings on Markets
Just do it! Brand Name Lessons from Nike'sTroubles!
I have spent the last week reading "Shoe Dog", Phil Knight's memoir of how a runner on the Oregon...
3 months ago
I have spent the last week reading "Shoe Dog", Phil Knight's memoir of how a runner on the Oregon University track team built one of the great shoe companies in the world, in Nike. In addition to its entertainment value, and it is a fun book to read, I read it for two...
Musings on Markets
Market Resilience or Investors In Denial? A Mid-year Assessment for 2023!
I am not a market prognosticator for a simple reason. I am just not good at it, and the first six...
a year ago
I am not a market prognosticator for a simple reason. I am just not good at it, and the first six months of 2023 illustrate why market timing is often the impossible dream, something that every investor aspires to be successful at, but very few succeed on a consistent basis. At...
Calculated Risk
Friday: Housing Starts, Industrial Production
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Housing Starts...
2 days ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
Housing Starts for December. The consensus is for 1.315 million SAAR, up from 1.289 million SAAR.
Industrial Production and Capacity Utilization for December. The consensus is for a 0.3% increase...
Mazdak
Why 2024 will be the year of the Delivery Drone?
For years, drone delivery has hovered on the horizon, a tantalizing glimpse of a futuristic utopia...
a year ago
For years, drone delivery has hovered on the horizon, a tantalizing glimpse of a futuristic utopia where packages pirouette through the air and land at our doorsteps with clockwork precision. But 2024 marks a pivotal juncture, a year where the sci-fi fantasy transforms into a...
Farnam Street
[FS Members] Lessons from Rockefeller: The Upside of Patience
Long-term thinking is one of the most valuable traits of successful individuals. It demands that you...
a year ago
Long-term thinking is one of the most valuable traits of successful individuals. It demands that you forego the rewards of the immediate future and position yourself for lasting success. But long-term thinking is impossible without patience; it’s what made John D. Rockefeller one...
Moneyness
When is a stablecoin a security? The strange case of Binance and BUSD
The SEC has been hinting for several years that stablecoins may be securities. I've always found the...
a year ago
The SEC has been hinting for several years that stablecoins may be securities. I've always found the idea of regulating stablecoins as securities to be a bit odd. No one who buys a stablecoin expects to make a profit. That's because none of the big stablecoins (Tether, BUSD, or...
Mazdak
AI.com to Chat.com: OpenAI's Domain Domination
From AI.com to Chat.com, OpenAI is making big moves in the world of conversational AI. They've...
2 months ago
From AI.com to Chat.com, OpenAI is making big moves in the world of conversational AI. They've dropped a huge amount of cash – likely over $15.5 million – to snag the premium domain Chat.com.
Citation Needed
Issue 65 – World Liberty Fiasco
Even the most pro-Trump crypto faithful think Trump’s new crypto scheme is a terrible idea.
4 months ago
Even the most pro-Trump crypto faithful think Trump’s new crypto scheme is a terrible idea.
Seeking Wisdom
Books I loved reading in 2022
over a year ago
Citation Needed
Issue 62 – Grassroots
Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a...
5 months ago
Coinbase’s Stand With Crypto Alliance fudges the numbers, a (former) crypto industry CEO has a meltdown, and another exchange suffers a nine-figure hack.
The Rational Walk
The Digest #158
Claude Shannon's mighty mouse, Ben Graham's father, Doomberg quits Twitter, FASB segment disclosure...
a year ago
Claude Shannon's mighty mouse, Ben Graham's father, Doomberg quits Twitter, FASB segment disclosure rules, Podcasts on old annual reports, Henry Ford's road trips, Jony Ive, Sal Kahn
The Rational Walk
The Digest #176
Found Money, OpenAI drama, GLP-1 drug studies, Estée Lauder, Heart valve technology, Edwin Land,...
a year ago
Found Money, OpenAI drama, GLP-1 drug studies, Estée Lauder, Heart valve technology, Edwin Land, John Oliver skewers dollar stores, Apple regrets, The Great Books Journal
Mazdak
Mastering Twitter/X Growth: Strategies to Skyrocket Your Follower Count
Twitter/X stands as one of the leading platforms for sharing ideas, connecting with others, and...
a year ago
Twitter/X stands as one of the leading platforms for sharing ideas, connecting with others, and building your personal brand. With the right strategies, you can transform your Twitter presence into a thriving community of engaged followers. In this blog post, I'll dive into...
The Rational Walk
The Digest #212
Berkshire Hathaway at $1 Trillion, Warren Buffett's Canvas, Dollar General, Mr Market Miscalculates,...
4 months ago
Berkshire Hathaway at $1 Trillion, Warren Buffett's Canvas, Dollar General, Mr Market Miscalculates, Competing in Search, The American Dream, Li Lu, Deep Dive into AI, The Impact of Debt, and more ...
Moneyness
Stablecoins – a digital version of Swiss bearer savings books
Before anti-money laundering laws arrived in Switzerland, anyone could walk into a Swiss bank and...
5 months ago
Before anti-money laundering laws arrived in Switzerland, anyone could walk into a Swiss bank and open an account without showing any ID. The bank would then issue you something called a bearer savings book, otherwise known as inhabersparheften or livrets d'épargne au porteur....
Commoncog
Danny Meyer’s Business Expertise
Let's break down Danny Meyer's business expertise as an exercise in biography reading.
5 months ago
Let's break down Danny Meyer's business expertise as an exercise in biography reading.
Mazdak
The Shadow Bankers Rise: Private Credit Fuels M&A in a Turbulent Market
While 2023 witnessed a 6% dip in US M&A value, a silent force has emerged as the lifeblood of...
a year ago
While 2023 witnessed a 6% dip in US M&A value, a silent force has emerged as the lifeblood of deal-making in this uncertain market: private credit. Stepping in where traditional bank financing hesitates, private credit has carved a niche with its nimble agility and diverse tools.
balajis.com
No Cap
Fed-killed banks took $100B+ from BTFP to stay afloat, but who's counting?
a year ago
Fed-killed banks took $100B+ from BTFP to stay afloat, but who's counting?
Mazdak
Tesla's Trump Card: How a Presidency Could Fuel a Trillion-Dollar Boom
What happens when a polarizing president and an electric vehicle giant collide?
2 months ago
What happens when a polarizing president and an electric vehicle giant collide?
Mazdak
Apple Intelligence is FINALLY HERE! 🤯 What You NEED to Know! 🧠
Join us as we explore Apple's groundbreaking AI platform:
2 months ago
Join us as we explore Apple's groundbreaking AI platform:
The Rational Walk
The Oresteia
The Oresteia is a trilogy produced by Aeschylus in 458 BC. Trapped in a cycle of lawless savagery,...
7 months ago
The Oresteia is a trilogy produced by Aeschylus in 458 BC. Trapped in a cycle of lawless savagery, mankind finds its way toward due process and justice.
The Rational Walk
Poor Charlie’s Almanack
My thoughts on the new edition with a focus on inconsistency avoidance, one of the twenty-five...
9 months ago
My thoughts on the new edition with a focus on inconsistency avoidance, one of the twenty-five psychological tendencies that can cause human misjudgment.
The Rational Walk
A Mind at Play
Claude Shannon is most famous for his groundbreaking work related to information theory, one of many...
a year ago
Claude Shannon is most famous for his groundbreaking work related to information theory, one of many subjects discussed in his fascinating biography.
The Diff
That Top-of-Cycle Feeling
Plus! Search; Cost of Capital; Duration; Aggregate Demand; Leaky Restrictions
a month ago
Plus! Search; Cost of Capital; Duration; Aggregate Demand; Leaky Restrictions
Moneyness
Will the digital euro be like cash?
The European Union published its proposal for a digital euro late last month, which will be issued...
a year ago
The European Union published its proposal for a digital euro late last month, which will be issued by the European Central Bank (ECB) if it goes ahead. There's plenty to digest in the 62-page document, but the one area I want to focus on in this post is privacy.
Digital euros...
Moneyness
It's time to get rid of "crypto"
Call me a pedant, but I'm not a fan of the word "crypto". It may have been a serviceable category...
10 months ago
Call me a pedant, but I'm not a fan of the word "crypto". It may have been a serviceable category back in 2011 when there was only one type of crypto thingy – bitcoin. But it's ceased to be a meaningful term and, if anything, it causes a regression in understanding.
Source:...
The Rational Walk
The Digest #163
Corporate taxes, Berkshire's clean energy investments, Isaacson's biography of Elon Musk, ESPN's...
a year ago
Corporate taxes, Berkshire's clean energy investments, Isaacson's biography of Elon Musk, ESPN's future, Nvidia, AI, Interpreting medical studies, Why Doomberg left Twitter, Jimmy Buffett, and more...
The Rational Walk
The Digest #161
Feynman on knowledge, TransDigm's controversial business model, Costco's history, The Ozempic/Wegovy...
a year ago
Feynman on knowledge, TransDigm's controversial business model, Costco's history, The Ozempic/Wegovy band-aid; Plus insights from Todd Combs, Michael Burry, Joel Tillinghast, and Lee Ainslie.
The Diff
The One-Big-Side-Bet Model of Wealth Creation
Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on...
a month ago
Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on Investment Goes; Broken ETFs; Swipe Fees and Accounting
Calculated Risk
Question #7 for 2025: How much will wages increase in 2025?
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of...
3 weeks ago
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment will...
Citation Needed
Issue 71 – (Crypto) banks are not your friends
Celsius’ Alex Mashinsky pleads guilty to fraud, some Tornado Cash sanctions are overturned, and tech...
a month ago
Celsius’ Alex Mashinsky pleads guilty to fraud, some Tornado Cash sanctions are overturned, and tech billionaires complain about “debanking”.
The Diff
Time Arbitrage and SaaS Pricing Power
Plus! Search UX; Mining Crypto; Moderation; News is a Distribution Business; AI as UI
a week ago
Plus! Search UX; Mining Crypto; Moderation; News is a Distribution Business; AI as UI
Bits about Money
Anatomy of a credit card rewards program
Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.
9 months ago
Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.
Musings on Markets
The Price of Risk: With Equity Risk Premiums, Caveat Emptor!
If you have been reading my posts, you know that I have an obsession with equity risk premiums,...
a year ago
If you have been reading my posts, you know that I have an obsession with equity risk premiums, which I believe lie at the center of almost every substantive debate in markets and investing. As part of that obsession, since September 2008, I have estimated an equity risk premium...
Calculated Risk
Trade Deficit increased to $78.2 Billion in November
The Census Bureau and the Bureau of Economic Analysis reported:
The U.S. Census Bureau and the U.S....
a week ago
The Census Bureau and the Bureau of Economic Analysis reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today
that the goods and services deficit was $78.2 billion in November, up $4.6 billion from $73.6 billion in
October, revised.
...
Mazdak
Biden Not to Block TikTok, Apple's Credit Card Dilemma, Google Says No to EU Rules, ...
The Biden administration has decided not to enforce the law that could force TikTok to go dark in...
2 days ago
The Biden administration has decided not to enforce the law that could force TikTok to go dark in the U.S.
Mazdak
Inflation finally chills out! Americans rejoice & recession whispers fade as prices dip and spending...
The good news just keeps coming! Prices finally took a breather in November, marking the first...
a year ago
The good news just keeps coming! Prices finally took a breather in November, marking the first decline since way back in 2020! This ain't no mirage, folks - inflation is cooling down, and the Fed's fight against skyrocketing prices is showing real results!
balajis.com
The Mirrortable
Mirrortables are to cap tables what stablecoins are to fiat currencies. They streamline and...
over a year ago
Mirrortables are to cap tables what stablecoins are to fiat currencies. They streamline and internationalize the logistical mess of angel investing.
The Rational Walk
The Digest #195
BHE Investor Conference, United States vs. Apple, Ajit Jain interview, Flaws in medical studies,...
9 months ago
BHE Investor Conference, United States vs. Apple, Ajit Jain interview, Flaws in medical studies, Pursuing happiness, Mitsubishi Corporation, Robert Cialdini interview
Mazdak
Tesla Cybertruck beats a Porsche 911 while towing a 911 🫡👀
a year ago
Mazdak
Tesla's Robotaxi: A Gamble?
Elon Musk finally took the wraps off his highly anticipated Cybercab at Tesla's "We, Robot" event on...
2 months ago
Elon Musk finally took the wraps off his highly anticipated Cybercab at Tesla's "We, Robot" event on October 10th.
Citation Needed
Issue 55 – Halving a bad time
The bitcoin "halving" looms, and that may not be as good news as coiners hope. Also, Terra committed...
9 months ago
The bitcoin "halving" looms, and that may not be as good news as coiners hope. Also, Terra committed fraud and Uniswap got a Wells notice.
balajis.com
The Start Of Startup Cities
Miami demonstrates that the era of startup cities is now underway.
a year ago
Miami demonstrates that the era of startup cities is now underway.
Mazdak
Tech Titans: AI Race Heats Up!
We will explore the intensifying competition between major tech companies in the field of artificial...
2 months ago
We will explore the intensifying competition between major tech companies in the field of artificial intelligence.
Citation Needed
Coinbase appears to have violated campaign finance laws with a $25 million super PAC donation
Actively involved in contract negotiations with a federal government agency, Coinbase was likely...
5 months ago
Actively involved in contract negotiations with a federal government agency, Coinbase was likely prohibited from making its $25 million contribution to the Fairshake crypto super PAC in May 2024.
Mazdak
A Guide to 2023-24 Tax Brackets and Rates (US)
Tax time can be intimidating, but understanding how your income gets taxed is key to financial...
a year ago
Tax time can be intimidating, but understanding how your income gets taxed is key to financial savvy. Let's crack open the code with a deep dive into the 2023-24 tax brackets and rates! Imagine your taxable income as climbing a ladder. Each rung represents a tax bracket, and as...
Citation Needed
Privacy, human rights, and Tornado Cash
I am more worried about privacy than crypto crime.
8 months ago
I am more worried about privacy than crypto crime.
Mazdak
Loonie on the Brink: Can Canada Escape US Monetary Policy?
The Canadian and American economies are deeply intertwined.
2 months ago
The Canadian and American economies are deeply intertwined.
FIRE v London
July ’23: Markets up, Coutts down
It’s been a dismally wet July here in London. About 50% more rainfall than normal (which, before ye...
a year ago
It’s been a dismally wet July here in London. About 50% more rainfall than normal (which, before ye scoff, isn’t that much – London is a fairly dry city – drier than Rome and much drier than Sydney). It has been long trousers weather, for the first time in several years. But at...
Citation Needed
Effective obfuscation
Silicon Valley's "effective altruism" and "effective accelerationism" only give a thin philosophical...
a year ago
Silicon Valley's "effective altruism" and "effective accelerationism" only give a thin philosophical veneer to the industry's same old impulses.
Mazdak
Meta's Shifting Approach to Politics and Content Moderation
Meta is backtracking on its political content policy.
a week ago
Meta is backtracking on its political content policy.
Musings on Markets
A Business Upended: Streaming disrupts the Entertainment Business!
It has been an unsettling summer for anyone with a stake in the movie, television and broadcasting...
a year ago
It has been an unsettling summer for anyone with a stake in the movie, television and broadcasting businesses. The strike by screen actors and writers which started in July is now into almost into its third month, with no end in sight, putting at risk the pipeline of movies and...
Calculated Risk
Fannie and Freddie: Single Family and Multi-Family Serious Delinquency Rates Increased in November
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family and...
2 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family and Multi-Family Serious Delinquency Rates Increased in November
Happy New Year! Best wishes for 2025, Bill
Here are the multi-family 60+ day delinquency rate since 2006.
There is much more...
The Rational Walk
What I’ve Been Reading
This post is a list of books that I read in the first quarter of 2024, most notably The Diary of...
9 months ago
This post is a list of books that I read in the first quarter of 2024, most notably The Diary of Anne Frank, Endurance, Crime and Punishment, and the Iliad.
Mazdak
Google's Gemini Enters the AI Arena: Ready to Take on OpenAI?
Get ready for a new contender in the world of large language models (LLMs): Google's Gemini! This...
a year ago
Get ready for a new contender in the world of large language models (LLMs): Google's Gemini! This powerful AI is set to shake things up, potentially rivaling big names like OpenAI and Microsoft. What's the Buzz About Gemini? Gemini comes in three flavors:
Calculated Risk
Sunday Night Futures
Weekend:
Schedule for Week of December 15, 2024
Empire State manufacturing survey for December. The...
a month ago
Weekend:
Schedule for Week of December 15, 2024
Empire State manufacturing survey for December. The consensus is for a reading of 5.8, down from 31.2.
Pre-Market Data and Bloomberg futures S&P 500 and DOW futures are mostly unchanged (fair value).
WTI futures at $71.12 per...
Calculated Risk
December 13th COVID Update: COVID in Wastewater Increasing
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm...
a month ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly.
Note: "Effective May 1, 2024, hospitals are no longer required to report...
Calculated Risk
Q4 GDP Tracking: 2.4% to 3.1%
From Goldman:
Following this morning’s data, we left our Q4 GDP tracking estimate unchanged at 2.4%...
4 weeks ago
From Goldman:
Following this morning’s data, we left our Q4 GDP tracking estimate unchanged at 2.4% (quarter-over-quarter annualized) and our Q4 domestic final sales forecast unchanged at +2.3% [Dec 20th estimate]
emphasis added
And from the Atlanta Fed: GDPNow
The GDPNow model...
Bits about Money
Markets in power
How physics and infrastructure combine to generate (ba dum bum) the power market.
over a year ago
How physics and infrastructure combine to generate (ba dum bum) the power market.
Musings on Markets
The Corporate Life Cycle: Corporate Finance, Valuation and Investing Implications!
As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children...
5 months ago
As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children are quick to point out my age, and I accept that reality, for the most part. I understand that I am too old to exercise without stretching first or eat a heaping plate of cheese...
Mazdak
Unplugging Australia: Kids vs. Social Media
Australia is going offline!
a month ago
Australia is going offline!
The Rational Walk
What I’ve Been Reading
This post is a list of books that I read in the third quarter of 2024, including Thucydides,...
3 months ago
This post is a list of books that I read in the third quarter of 2024, including Thucydides, Sophocles, Persian Fire, Hillbilly Elegy, and more.
Calculated Risk
Part 1: Current State of the Housing Market; Overview for mid-January 2025
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market;...
5 days ago
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-January 2025
A brief excerpt:
This 2-part overview for mid-January provides a snapshot of the current housing market.
tells the tale! I’m watching...
Citation Needed
Elon Musk and the right’s war on Wikipedia
The world's richest man has joined a growing chorus of right-wing voices attacking Wikipedia as part...
2 weeks ago
The world's richest man has joined a growing chorus of right-wing voices attacking Wikipedia as part of an intensifying campaign against free and open access information.
Calculated Risk
Happy Holidays and Merry Christmas to All!
High Sierra webcam (it is snowing!)
beach in Newport.
Best Wishes to All!
3 weeks ago
High Sierra webcam (it is snowing!)
beach in Newport.
Best Wishes to All!
Seeking Wisdom
Hello LLMs!
When you are having trouble getting your thinking straight, consider an extreme or simple case. This...
a year ago
When you are having trouble getting your thinking straight, consider an extreme or simple case. This will often give you the insight needed to move forward. I nodded in agreement when I read the above lines from the book Maxims for Thinking Analytically. ChatGPT took the world by...
Moneyness
The intensifying effort to isolate Russia's banks
Last week the U.S. government expanded the coverage of its secondary sanctions to encompass most of...
7 months ago
Last week the U.S. government expanded the coverage of its secondary sanctions to encompass most of Russia's banks. It's a very big step, one that has been long-awaited by sanctions watchers, and will likely have significant repercussions for Russia and its trading partners....
Calculated Risk
NAR: Pending Home Sales Increase 2.2% in November; Up 6.9% Year-over-year
From the NAR: Pending Home Sales Moved Up 2.2% in November, Fourth Straight Month of...
2 weeks ago
From the NAR: Pending Home Sales Moved Up 2.2% in November, Fourth Straight Month of Increases
Pending home sales gained 2.2% in November – the fourth consecutive month of increases and the highest level since February 2023 – according to the National Association of REALTORS®....
Commoncog
Process Behaviour Charts: More Than You Need To Know
The process behaviour chart is the easiest way to differentiate between routine and exceptional...
a year ago
The process behaviour chart is the easiest way to differentiate between routine and exceptional variation. This is everything you need to know to use it well.
Commoncog
Commoncog is Off for the Chinese New Year
A quick announcement. Happy Year of the Rabbit everyone!
a year ago
A quick announcement. Happy Year of the Rabbit everyone!
Citation Needed
Businessweek: Crypto Got What It Wanted in November’s Election. Now What?
The industry is now in a position to weaken financial rules that might protect consumers from the...
a month ago
The industry is now in a position to weaken financial rules that might protect consumers from the next crypto crash.
Musings on Markets
The Sugar Daddy Effect? Corporate venture capital, Sovereign funds and Green Energy!
It is a sign of the times that I spent some time thinking about whether the title of my post would...
2 months ago
It is a sign of the times that I spent some time thinking about whether the title of my post would offend some people, as sexist or worse. I briefly considering expanding the title to "Sugar Daddies and Molasses Mommies", but that just sounds awkward, or even replacing the words...
Mazdak
AI's Energy Problem: Can We Power Progress Without Wrecking the Planet? ⚡️🌎
AI is booming, but its appetite for energy is a growing concern. As world leaders gather in Dubai...
a year ago
AI is booming, but its appetite for energy is a growing concern. As world leaders gather in Dubai for COP28, it's more important than ever to understand the complex relationship between AI and climate change. Why it matters: AI could become one of the biggest energy guzzlers on...
Commoncog
Renaming the Business Expertise Triad
Renaming the business expertise triad from Supply/Demand/Capital to the simpler ...
a year ago
Renaming the business expertise triad from Supply/Demand/Capital to the simpler Operations/Market/Capital.
Mazdak
How to Win Friends and Influence People by Dale Carnegie: A Summary and Key Takeaways
Dale Carnegie's How to Win Friends and Influence People is one of the most popular and influential...
a year ago
Dale Carnegie's How to Win Friends and Influence People is one of the most popular and influential self-help books ever written. First published in 1936, it has sold over 50 million copies and been translated into over 30 languages. The book is a practical guide to improving...
The Rational Walk
The Digest #208
Biden's Withdrawal and Limits of Gaslighting, The CrowdStrike Crash, Munger and Franklin, Steve Jobs...
5 months ago
Biden's Withdrawal and Limits of Gaslighting, The CrowdStrike Crash, Munger and Franklin, Steve Jobs in 1983, Microsoft deep dive, Marks on risk, Luca Delanna on ergodicity, Guadalcanal
Calculated Risk
Housing Starts Increased to 1.499 million Annual Rate in December
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
seasonally adjusted annual...
2 days ago
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
seasonally adjusted annual rate of 1,499,000. This is 15.8 percent above the revised November estimate of 1,294,000, but is 4.4 percent below the December 2023 rate of 1,568,000. Single-family housing starts...
The Rational Walk
Buffett Accelerates Gifts to Family Foundations
For the second year in a row, Warren Buffett has made gifts to four family foundations in excess of...
a year ago
For the second year in a row, Warren Buffett has made gifts to four family foundations in excess of the annual commitments pledged in 2006.
balajis.com
#4 - The Winklevoss Twins and Balaji
Listen now (50 min) | Tyler and Cameron Winklevoss talk with Balaji about how Washington, DC is...
a year ago
Listen now (50 min) | Tyler and Cameron Winklevoss talk with Balaji about how Washington, DC is losing crypto, while other countries like the UAE and Japan are winning web3. OUTLINE 0:00 - I'm 6'5", 220, and there's two of me! 0:58 - Crypto flippening from America to Asia
Mazdak
How Big Tech Could Lose Everything to Appease Trump
In a world on the brink, Big Tech is playing a dangerous game. The 2024 US election could see Donald...
2 months ago
In a world on the brink, Big Tech is playing a dangerous game. The 2024 US election could see Donald Trump, a man who has openly attacked these companies, return to power.
FIRE v London
Aug ’23: …
A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One...
a year ago
A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One was the death of Russian mutineer Yevgeny Prigozhin – a larger-than-life modern day warlord, responsible for the ‘little green men’ at the start of the Russian/Ukraine war in 2014,...
The Rational Walk
Musical Chairs at Dollar General
Investors were euphoric when Dollar General brought back its former CEO less than a year after his...
a year ago
Investors were euphoric when Dollar General brought back its former CEO less than a year after his retirement. A sober look at the situation reveals significant concerns.
Mazdak
Canada's Housing Crisis: Is There a Way Out?
Canada's housing market has become a national concern. Soaring prices have pushed homeownership out...
9 months ago
Canada's housing market has become a national concern. Soaring prices have pushed homeownership out of reach for many, and even renters struggle to find affordable options. The pandemic exacerbated this pre-existing crisis, highlighting the urgent need for solutions. This article...
The Diff
What Would it Look Like if The Pod Shop Model Blew Up?
Plus! Economic Blocs; Benefits; Headlines; IP and Finance; Squaring the Global Imbalances Circle
a month ago
Plus! Economic Blocs; Benefits; Headlines; IP and Finance; Squaring the Global Imbalances Circle
The Rational Walk
The River of Doubt
The amazing story of Theodore Roosevelt's death defying trek through the unmapped rivers and jungles...
11 months ago
The amazing story of Theodore Roosevelt's death defying trek through the unmapped rivers and jungles of the Amazon River basin.
balajis.com
The Elondrop
Build the political support necessary to free Twitter with the largest airdrop in history.
over a year ago
Build the political support necessary to free Twitter with the largest airdrop in history.
Mazdak
How to Build Wealth: 5 Key Principles
Building wealth is a long-term goal that requires time, discipline, and consistency. But it is...
a year ago
Building wealth is a long-term goal that requires time, discipline, and consistency. But it is possible for anyone who is willing to put in the work. Here are 5 key principles to help you build wealth: Live below your means. This is the single most important thing you can do to...
Calculated Risk
MBA Survey: Share of Mortgage Loans in Forbearance Increases to 0.50% in November
From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.50% in November
The Mortgage...
3 weeks ago
From the MBA: Share of Mortgage Loans in Forbearance Increases to 0.50% in November
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.50% as of November 30, 2024. According to MBA’s...
Musings on Markets
In Search of Safe Havens: The Trust Deficit and Risk-free Investments!
In every introductory finance class, you begin with the notion of a risk-free investment, and the...
a year ago
In every introductory finance class, you begin with the notion of a risk-free investment, and the rate on that investment becomes the base on which you build, to get to expected returns on risky assets and investments. In fact, the standard practice that most analysts and...
Citation Needed
25 years for Sam Bankman-Fried
"The judgment has to adequately reflect the seriousness of the crime, and this was a very serious...
9 months ago
"The judgment has to adequately reflect the seriousness of the crime, and this was a very serious crime."
Mazdak
Threads Takes Europe!: Meta's Microblogging App Makes a Big Move
Calling all European Tweeters! 🇪🇺 Meta's microblogging platform, Threads, is officially landing on...
a year ago
Calling all European Tweeters! 🇪🇺 Meta's microblogging platform, Threads, is officially landing on your shores. Months after its initial launch in the U.S., Threads is finally spreading its wings and embracing the vast and vibrant online communities of Europe. Mark Zuckerberg...
Musings on Markets
Data Update 1 for 2025: The Draw (and Danger) of Data
For the last four decades, I have spent the first week of each year collecting and analyzing data on...
a week ago
For the last four decades, I have spent the first week of each year collecting and analyzing data on publicly traded companies and sharing what I find with anyone who is interested. It is the end of the first full week in 2025, and my data update for the year is now up and...
The Rational Walk
Buffett Resumes Occidental Purchases
Berkshire spent $246.4 million to acquire 3.9 million OXY shares between October 23 and October 25.
a year ago
Berkshire spent $246.4 million to acquire 3.9 million OXY shares between October 23 and October 25.
balajis.com
The Network State Conference
Come to Amsterdam on October 30 to build the parallel establishment.
a year ago
Come to Amsterdam on October 30 to build the parallel establishment.
Calculated Risk
Goldman on Employment Report and FOMC
A few excerpts from a Goldman Sachs research note:
Nonfarm payrolls rose 256k in December, well...
a week ago
A few excerpts from a Goldman Sachs research note:
Nonfarm payrolls rose 256k in December, well above consensus expectations. ... The household survey was also strong. The unemployment rate fell 0.15pp to 4.09%, reflecting a 478k gain in household employment and an unchanged...
Citation Needed
Cryptocurrency companies have raised over $115 million to influence US elections this cycle, and...
As election season kicks into high gear, we need to watch how cryptocurrency companies are...
7 months ago
As election season kicks into high gear, we need to watch how cryptocurrency companies are influencing US politics.
Calculated Risk
December Vehicle Sales Forecast: 16.7 million SAAR, Up 5% YoY
From WardsAuto: December U.S. Light-Vehicle Sales Brighten Lackluster Year; Unusually High Drain on...
4 weeks ago
From WardsAuto: December U.S. Light-Vehicle Sales Brighten Lackluster Year; Unusually High Drain on Inventory (pay content). Brief excerpt:
Improved affordability is the main thrust to the end-of-year improvement in demand, with higher consumer confidence also likely a...
The Rational Walk
The Digest #191
The dopamine loop, Berkshire Hathaway's annual report recap, Tom Gayner's letter to Markel...
10 months ago
The dopamine loop, Berkshire Hathaway's annual report recap, Tom Gayner's letter to Markel shareholders, Investing lessons from Earnest Shackleton, Google's Gemini AI goes off the rails
The Diff
In Credit Underwriting, Better is Worse
Plus! IRR; Structure; Financial Epiphytes; Shale; Weakening the Cartel
2 weeks ago
Plus! IRR; Structure; Financial Epiphytes; Shale; Weakening the Cartel
Calculated Risk
January 19th COVID Update: COVID in Wastewater Decreasing
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm...
23 hours ago
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly.
Note: "Effective May 1, 2024, hospitals are no longer required to report...
Calculated Risk
Ten Economic Questions for 2025
Here is a review of the Ten Economic Questions for 2024.
I'll follow up with some thoughts on each...
3 weeks ago
Here is a review of the Ten Economic Questions for 2024.
I'll follow up with some thoughts on each of these questions.
We can assume the 2017 Tax Cuts and Jobs Act (TCJA) will be extended. That larger tariffs will be imposed on some imports, and there will be some...
Calculated Risk
Retail Sales Increased 0.7% in November
On a monthly basis, retail sales increased 0.7% from October to November (seasonally adjusted), and...
a month ago
On a monthly basis, retail sales increased 0.7% from October to November (seasonally adjusted), and sales were up 3.8 percent from November 2023.
report:
Advance estimates of U.S. retail and food services sales for November 2024, adjusted for seasonal variation and holiday and...
The Rational Walk
The Digest #210
Disinflation vs. Deflation, Zooming Out, Warren Buffett's Apple Sales, Teens without Smartphones,...
5 months ago
Disinflation vs. Deflation, Zooming Out, Warren Buffett's Apple Sales, Teens without Smartphones, Adam Wright, Joel Greenblatt, Robert Kierlin, Bruce Berkowitz, Jeremy Grantham
Seeking Wisdom
Modeling Life: Linear Algebra
This is the 4th post in my series summarizing the key takeaways from reading the book Modeling Life....
8 months ago
This is the 4th post in my series summarizing the key takeaways from reading the book Modeling Life. I recommend reading my previous posts first to gain a solid understanding on how to model dynamic systems. This post focuses on how linear algebra is employed in modeling dynamic...
Seeking Wisdom
Embeddings – Part 1
This is the 8th post in my series on building a toy GPT. For better understanding, I recommend...
a year ago
This is the 8th post in my series on building a toy GPT. For better understanding, I recommend reading my earlier posts first. I love playing and watching cricket. The dominance India showed in the recently concluded World Cup is astounding. I have never seen anything like it in...
Commoncog
Commoncog's Next Phase
Announcing the launch of the Commoncog Case Library, setting the Learning in Ill-Structured Domains...
a year ago
Announcing the launch of the Commoncog Case Library, setting the Learning in Ill-Structured Domains series free, and one more thing.
Citation Needed
Issue 63 – RobConf 2024
Coinbase responds to campaign finance violation allegations, Trump panders to bitcoiners, and I chat...
5 months ago
Coinbase responds to campaign finance violation allegations, Trump panders to bitcoiners, and I chat with Lyn Alden about sexism in bitcoin.
Seeking Wisdom
What I learned from Prof. Sanjay Bakshi’s Behavioral Economics Course at FLAME University
I had the privilege to attend Prof. Sanjay Bakshi’s Behavioral Economics course at FLAME University....
over a year ago
I had the privilege to attend Prof. Sanjay Bakshi’s Behavioral Economics course at FLAME University. Being his student since 2011, I realized my dream by sitting in his class for 3.5 days. Prof. Bakshi taught us around 20 different models from Charlie Munger’s Psychology of Human...
Mazdak
Google's AI Search Tool: A Traffic Nightmare for Publishers?
AI Threatens to Shake Up the News Landscape.
a year ago
AI Threatens to Shake Up the News Landscape.
Bits about Money
A review of Number Go Up, on crypto shenanigans
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether...
a year ago
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.
Calculated Risk
Industrial Production Decreased 0.1% in November
Earlier from the Fed: Industrial Production and Capacity Utilization
Industrial production (IP)...
a month ago
Earlier from the Fed: Industrial Production and Capacity Utilization
Industrial production (IP) moved down 0.1 percent in November after declining 0.4 percent in October. In November, manufacturing output rose 0.2 percent, boosted by a 3.5 percent increase in the index for motor...
Musings on Markets
Fed up with Fed Talk? Fact-checking Central Banking Fairy Tales!
The big story on Wednesday, September 18, was that the Federal Reserve’s open market committee...
4 months ago
The big story on Wednesday, September 18, was that the Federal Reserve’s open market committee finally got around to “cutting rates”, and doing so by more than expected. This action, much debated and discussed during all of 2024, was greeted as "big" news, and market...
FIRE v London
My 20 year property returns
I was pleased to have reached the 10 year point of tracking my investment portfolio last month. But...
a year ago
I was pleased to have reached the 10 year point of tracking my investment portfolio last month. But my net worth includes an important asset class – property – that I don’t normally track, but which I have held in some form for over 20 years. So, this post takes a look at how my…...
Seeking Wisdom
Modeling Life: Foundations
Herman Wouk was researching for a novel he planned to write about World War II. He interviewed...
9 months ago
Herman Wouk was researching for a novel he planned to write about World War II. He interviewed several physicists at Caltech who had worked on the bomb, including Richard Feynman. After the interview, Feynman asked Wouk if he knew Calculus. “No,” said Wouk. To which Feynman...
Mazdak
Compound Interest: A Comprehensive Guide
Compound interest is often called the "eighth wonder of the world" and for good reason.
2 months ago
Compound interest is often called the "eighth wonder of the world" and for good reason.
Mazdak
Teens Obsessed with YouTube and TikTok: New Survey Reveals Usage Trends
Nearly 1 in 5 teens are on YouTube or TikTok "almost constantly," according to a new survey by Pew...
a year ago
Nearly 1 in 5 teens are on YouTube or TikTok "almost constantly," according to a new survey by Pew Research Center. This highlights the immense popularity of these video-streaming platforms among younger generations. Here are the key takeaways from the survey:
Citation Needed
Caroline Ellison: A woman with agency or a helpless pawn?
Why did the former Alameda Research CEO receive only two years imprisonment for her role in the FTX...
3 months ago
Why did the former Alameda Research CEO receive only two years imprisonment for her role in the FTX collapse?
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