BC BUSINESS
Saved by @Alex1Powell

1/20 Q. “What are the best and worst things about being a CEO?”
A. “If you don’t like working 24/7 7 days a week, this job is not for you; also, it’s a little bit of being a school teacher, meaning like, you know, I have 150 employees, the company I ran

 2/20 “before @CelsiusNetwork had 1,500 employees, and every day you have issues: The kids are fighting, somebody didn’t show up to school, somebody forgot their lunch, you name it. A lot of kind of making sure that everybody is happy. Also, if you think of it like OK, you
3/20 “have a bus, but you need to fill it with people and you need to make sure that everybody gets put in the right seat on the bus. If you put the wrong person in the driver’s seat or on the brakes, or whatever, holding the door from opening, keeping the windows
4/20 “closed, disaster will happen. So a lot of it is kind of looking at the macro things that make a company successful. For example, for me with @CelsiusNetwork, we had a lot of employees who kept saying to us, ‘You’re giving too much to the community, we’re never going to
5/20 “‘break even, we’re never going to be profitable’; even CEL token, they kept saying, 'CEL token is stuck at $0.03 for a year and a half.' It was stuck at $0.03. You could have bought millions of CEL tokens for $0.03, it’s now $3.00.
6/20 “So a lot of people were saying, ‘Look, it’s never going to go up.' And I’m like, no, you just have to wait until the community is big enough and then enough of them are going to earn in CEL and we’re going to be buying millions.
7/20 “Now we’re buying $3 million every week, $3 million worth of CEL token out of the market; we are sucking it like a vacuum cleaner. Now it’s easy, now everybody is a genius, 'of course CEL token.' But buying it at $0.03 and believing that the flywheel and everything
8/20 “and acting in the best interest of the community and scaling this… Just believing in the fact that people will give us $4 billion was something -- even my employees were saying, ‘C’mon, Alex.’ So as a CEO, you have to be not just steadfast but you have to have so much
9/20 “conviction. If you show 1% of uncertainty to your employees, then they run away, because they’re like OK, even our leader doesn’t believe in it. So even if you have doubts yourself, you’re not allowed to show any emotion.
10/20 “They say the CEO job is the most lonely job in the world because you can’t share anything with anyone; you can’t share your fears, you can’t share your — you can only share your excitement, but you cannot share anything that is not positive with anyone because it
11/20 “propagates like cancer very, very quickly. If you’re not confident or you don’t see a great future or whatever, the employees just leave, they have plenty of opportunities; they can jump ship in a minute and go and work somewhere else. It is a very difficult job.
12/20 “Again, this is my 8th time being CEO, so for me I’m doing it in my sleep. But if you’re a first-time CEO and you’re facing all these challenges, there’s no one to talk to. Who are you going to talk to? Your VP of finance or your head of sales? Your mom? 'Mom, I need help!’
13/20 “That’s why we say ‘Leaders are not born, they’re made.' Having that experience, being able to manage people, being able to lead people, being able to solve problems faster than they — because with a startup, the problem is, if you have a major problem, it will bring down
14/20 “the whole company if you don’t solve it fast enough. So you don’t have time. You got to solve it real quick. And here, we have the lives and the savings of 250,000 people in our hands, so the responsibility is huge. It’s not like, OK, Alex is going to lose a little
15/20 “bit of money. This is $4 billion of people's — this is their college fund, their dream for retirement, them taking care of their parents, them paying off their loans; it is their livelihood that is in our hands. So we don’t take it lightly. We really understand the weight
16/20 “on our shoulders. That’s why, again, we’re not trying to get you 200% like some of these crazy crypto projects. We are promising high single digits, because we don’t want to take — the key is to earn as much as possible by taking the least amount of risk.
17/20 “On March 12th #bitcoin crashed 40% in 12 hours. We walked out of it smelling like a rose. Everybody else had billions of dollars in liquidations; they lost most of their customers. But also, when the market went up like crazy, we kept paying the same rate; we didn’t go
18/20 “like DeFi and say, oh, here’s 300% return or whatever. Slow and steady wins the race here. We always say that the winners in crypto are the people who finish the race, you don’t have to be number 1, it doesn’t matter if you’re number 1,000.
19/20 “As long as you HODL and you got your coins and the coins increased in value, you’re going to do exceptionally well. You don’t need to be the guy that dies with the most dollars; that doesn’t matter. For most people, they take leverage or they do all kind of
20/20 “crazy stuff, that’s not what we recommend. We are definitely trying to find the safest way to get there, to get to financial retirement.” — Alex Mashinsky | Should You Use Celsius Network? The Truth w/CEO Alex Mashinsky YouTube Interview | Dec 24, 2020

More from Business

Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
Republican North Dakota legislators have introduced #SB2333, a bill that prohibits large tech companies from locking their users into a single app store or payment processor.

https://t.co/PgyhgOhFAl

1/


While his has implications for Android and other large tech platforms, its most immediate and far-reaching effects with be on Apple, whose Ios platform uses lock-in to monopolize both apps and payments (and another domain, not mentioned in the bill: repairs).

2/

Predictably, this has thrown Apple into a fury, with Apple's privacy chief @erikn telling the SD legislature that Apple uses its monopoly over the app store to protect its users' privacy and

Neuenschwander makes a good, but incomplete, point. To the extent that Apple has the same interests as its users, it uses its app store monopoly to lock out bad apps (to the best of its ability).

4/

But when Apple's interests diverge from its users' interests, the prohibition on sideloading apps actively harms those users' privacy and security. Think of how Apple caved to Chinese state demands to remove working VPNs from the Ios app store to facilitate mass surveillance.

5/
BUSINESS
Nick Huber
Nick Huber
@sweatystartup
A THREAD on how most real estate folks structure deals with outside investors.

Most people utilize the "preferred equity" structure when they raise money from outside investors. They "syndicate" deals.

Here's the basics:

The person (or team of people) putting the deal together is the "sponsor". Also called general parter. Referred to on twitter as the GP.

They find the property, do all the work, hire the management company and take fees. They often co-sign debt and always secure the financing.

The investor is generally passive, doing no work and putting in cash. This is the "limited partner". Referred to on twitter as the LP.

They don't co-sign debt. They simply read reports and ask the sponsors questions and cash checks every month (if the deal is going well).

There are two equity classes.

"Preferred equity" belongs to the LPs. Cash talks, so this is a higher class of shares. They are first in the "capital stack" behind the debt (bank loan).

"Common equity" belongs to the sponsor. They are generally last in the capital stack.

Sponsors generally co-invest. That means they hold both equity classes. A 10% co-invest is standard.

That means the GP has skin in the game. His 10% co-invest makes him both an LP and a GP.
BUSINESS , REAL ESTATE
Advertisement
ArmaLite Andy\U0001f943\U0001f96f\u2615
ArmaLite Andy🥃🥯☕...
@Deep_Seas_Oil
Piper Alpha was an originally designed as an oil producing rig in the North Sea approximately 120 miles North East of Aberdeen, Scotland. It was a fixed leg platform in water depth of 475 Feet of water. The installation sat close to 275 Feet above water to the top of the derrick.


2) It started production in December 1976 for OPCAL joint venture. OPCAL being Occidental Petroleum Caledonia, Texaco Britain, Thomson PLC, and Texas Petroleum LTD. Occidental was the majority stakeholder at 36.5%


3) Occidental being majority stakeholder took control of technical and operational duties with running and operating the rig. When oil production started in 1976 it started with a flow of 250,000 BBL/day and eventually increasing this amount to 300,000 BBL/day.


4) 300,000 BBL/day would account for approximately 10% of the UK’s oil production at the time, so needless to say it was one of the most important rigs in the area. Any gas that was flowing would be flared or consumed by gas turbine generators


5) Around 1980 there was a decision to convert the rig to also process gas along with the oil. This was a major conversion, and if it would have been scoped in from the beginning, most likely construction of the rig would have been more accommodating for gas.
BUSINESS
Ky Nguyen
Ky Nguyen
@keywinhomes
@ReformedTrader That is a long post, but well written. Real estate is a claim on the future prosperity or ruin of a geographical location. Real estate intrinsic values is its ability to generate cash or similar costs to rent in that area. Intrinsic value is above zero in most cases.

Ironically enough, the location that benefits most from property ownership are places where rising living costs expand faster than rising middle income wages. Deflationary areas are hostile to property ownership as price is falling make collateral and borrowing difficult.

Homes are bought using leverage with agencies loan subsidies by the governments. As long as you have fixed rates, the costs of living expenses for your housing is set for 30 or 15 years which allow family to budget. Wealth can be accumulate over time as asset and income risen.

Time passed, real estate become detach from intrinsic values. Monthly mortgage rocket pass incomes and growth in the area. Quick money into real estate turn into a landmine. The 2007 fiasco could have been better or worst, but the free market is effectively dead as an ideology.

At the time, investors attack the institutional that vulnerable to the MBS and structured derivatives linked to real estate bubble risks. Since many financial institution owned the agencies MBS, defaulting on these security means downward spiral for M1 and M2 in developed nations
BUSINESS
Nick Huber
Nick Huber
@sweatystartup
The wealthiest person I know prints millions out of thin air in the real estate business.

This is what he does...

A thread.

He finds a distressed retail plaza. Let's say 50% of the space isn't leased.

On a 300,000 sf plaza that might mean 150k square feet is vacant.

If asking rent is $8 per square foot per year, that means the building has a "potential revenue" figure of of $2.4MM.

So in this retail center 50% is leased and 50% is vacant. So the actual revenue, right now, is $1.2MM.

Most retail leases are whats called "Triple Net" or "NNN". This means the tenant pays the taxes, insurance, maintenance and CAM (common area maintenance).

They basically pay all of the landlord's expenses (except debt service on any loans he/she has, of course).

Commercial properties are valued based on something called a "cap rate".

The equation is:

net operating income / (cap rate) = value

The cap rate is a %.

Think about it as the return on your money, annually, as a percentage, you spent to buy a property.
BUSINESS

You May Also Like

Jaya_Upadhyaya
Jaya_Upadhyaya
@Jayalko1
SRI KUMARIAMMAN, KANYAKUMARI (TN)
#bharatmandir #navratri2021

Created by Maharshi Parasurama and also one among the 108 Shakthi Peethas in the world. The name Kanyakumari stands for Kanya(Virgin) and Kumari(girl).
Devi took this form to vanquish the demon Banasura
@GunduHuDuGa


Once, Banasura(grand son of Mahabali) obtained a boon from Shiva that he could be vanquished only by a virgin.
So, Devi took the form of a kumari and started meditating with the desire to marry Shiva at Suchindram.
Pleased Shiva fixed the midnight hour for marriage with Devi.


Devarshi Narada knew that the marriage would end the chance of killing Banasura. So, he assumed the form of a cock and crowed. Shiva returned back to Suchindram thinking that it was dawn.
Angered, Devi cursed that all food and articles meant for wedding turn into sand and shells


When Banasura heard about Devi’s beauty, he tried to take her by force. Devi, then, killed him and granted the wish of Devas to remain there always protecting them.
The murti of Devi stands with a rosary in hand. Her diamond nose-ring is said to be visible even from the sea.


Once an ancient mariner mistook it for a lighthouse and sailing towards it, his ship wrecked upon the Kanya Kumari rocks. In order to prevent such a tragedy from happening again, the eastern door of the shrine is opened only on five special occasions throughout the year.
ALL
Filippo Valsorda
Filippo Valsorda
@FiloSottile
“We don’t negotiate salaries” is a negotiation tactic.

Always. No, your company is not an exception.

A tactic I don’t appreciate at all because of how unfairly it penalizes low-leverage, junior employees, and those loyal enough not to question it, but that’s negotiation for you after all. Weaponized information asymmetry.

Listen to Aditya


And by the way, you should never be worried that an offer would be withdrawn if you politely negotiate.

I have seen this happen *extremely* rarely, mostly to women, and anyway is a giant red flag. It suggests you probably didn’t want to work there.

You wish there was no negotiating so it would all be more fair? I feel you, but it’s not happening.

Instead, negotiate hard, use your privilege, and then go and share numbers with your underrepresented and underpaid colleagues. […]
LIFE
Advertisement
Respectable Lawyer
Respectable Lawyer
@RespectableLaw
There's been a lot of talk about the missionary killed by the natives of North Sentinel Island. They're probably so aggressive because of this weirdo, Maurice Vidal Portman. So here's a big thread about this creep and some facts from my decade-long obsession with the island.


The Sentinelese are often described as “uncontacted,” but this not strictly true. They had a very significant contact in 1880 with Commander Portman.

Portman, the black sheep third son of some minor noble, was assigned by the English Royal Navy to administer and pacify the Andaman Islands, a job he pursued from 1880-1900 with the full measure of his own perversity.


Portman was erotically obsessed with the Andamanese, and he indulged his passion for photography by kidnapping members of various tribes and posing them in mock-Greek homoerotic compositions.


During his 20 years in a sexualized heart of darkness, Portman measured and cataloged every inch of his prisoner’s bodies, with an obsessive focus on genitals.
SOCIETY
Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
Surkanda devi mandir is a famous shrine of Hindus located near Kaddukhal distt of Uttarakhand, 11 Km from the town of Dhanaulti and 35 Km from Mussoorie.
The Temple is one of the 51 Shakti Peethas spread all over Indian Subcontinent and is dedicated to Goddess Surkanda.


Nestled on a Hill at an Altitude of 2700 m approx, the place offers a splendid view of the snow capped mountains, the picturesque scenic beauty that offers an experience of the lifetime.
The Temple build in the traditional Garhwal style exuberates the Architectural splendour.


The origins of the Surkanda Mata Mandir is attributed to Goddess Sati, consort of Bhagwan Shiv who in a rage immolated herself in her arrogant Father Daksha's Yajna Kund bcoz he didn't invite Bhagwan Shiv in the Yajna.


Devastated by the death of Sati Shiva wandered all over the cosmos performing Tandava-The Dance of Cosmic Destruction.Fearing the total annihilation of cosmos, Gods requested Bhagwan Vishnu to pacify Shiva.Bhagwan Vishnu then used his discuss to destroy the burning corps of Sati.


The pieces of Sati Mata's body then got scattered all over the region which were later established as Shakti Peethas by Bhagwan Shiva himself.Its believed that the head of Sati fell here and it was called Sirkhanda Mata Temple before, but with passage of time it became Surkanda.
ALL
\u0100yudhika
Āyudhika
@Satyamev1310
Ashta Siddhi

Ashta Siddhi is mentioned in Patanjali Yog sutra and can be obtained by very few through countless years of practice and devotion to all eight limbs of Ashtanga Yoga.

Siddhi can loosely be translated as accomplishment or a special power or unusual skill.


The eight Siddhis are:

1. Anima: Reducing one’s physical self to the size of an atom.

2. Mahima: Expanding one’s physical self to infinite level

3. Garima: Making one’s physical self so heavy as immovable by others

4. Laghima: Becoming almost weightless


5. Prapti: Being able travel anywhere in the Universe

6. Prakamya: Can know & understand what is going on in one’s mind. Can understand other person’s min.

7. Ishitva: Possessing title of Bhagwan

8. Vashitva: A seeker can subdue any person/thing

(Hanuman Jayanti is coming)


Hanumanji not only possessed all eight siddhis, but was also blessed by Sita mata as “Ashta Siddhi Nau Nidhi Ke Daata”.

When Hanumanji first reaches to Lanka on his mission to find Sita, he makes use of anima so as to be discrete in enemy territory.


He uses it again when he approaches Sita mata for the first time – reducing his size to that of a schoolboy, to avoid scaring her. He uses mahima to outwit & overpowers
the demons.
ALL