BC CULTURE
Saved by @ThomassRichards

One of my favorite

 Forbes estimates that Beanie Baby creator Ty Warner’ net worth is $2.7 Billion. This is an amazing achievement considering a bulk of it was earned during a 3-year time frame selling a $5 per unit stuffed animal.
The fact that Ty Warner’s Beanie Babies were able, without the benefit of a single ad, to outpace the combined annual profits of the largest toymakers in the world for even a few years is unprecedented.
To illustrate how quickly the bubble grew - In 1995, Ty Warner’s company Ty Inc had sales of roughly $28 million. In 1996 sales were $280 million with $90 million in pre-tax income. By 1998, Ty Inc sales reached $1.34 billion with pre-tax income of $700 million.
In Ebay’s 1998 Annual Report it disclosed Beanie Babies as material. “At times, approximately 7% of our listings involved Beanie Babies”. Furthermore, it was said that 10% of Ebay sales at the time were derived from Beanie Babies.
In a deal with Major League Baseball, teams could give away 10,000 Beanie Babies at a game of their choosing. During these giveaway games, attendance rose 37.4%. The giveaways did more for ticket sales then any promotion in MLB history.
In a McDonald’s promotion, McDonald’s gave away 100 million Beanie Babies in happy meals in 3 days. Adults were going through the drive-thrus ordering 100 happy meals at a time, throwing out the food or telling the attendant to keep the food, and reselling the Beanie Babies.
So how did he do it?

He bucked the trend of the toy industry which said a $5 toy could never become a collectable. Warner would retire (discontinue) certain animals to create demand in primary and secondary markets.
He refused to sell to big box retailers. He didn’t want to see his Beanie Babies sold in crates. He only worked with small independent stores and gift shops in airports because it would produce a secondary effect of having them flown around the world to help spread his brand.
His lack of normal distribution seemed to spur on demand even more by exacerbating supply shortages.

He was obsessive about quality and would design almost every animal himself and spend months each year in China picking out fabrics.
The fad only lasted a few years and Warner was smart as he reinvested profits into real estate and buying hotels.

He bought the Four Seasons in New York, Biltmore Santa Barbara and Coral Casino Beach and Cabana Club, Sandpiper Golf Course, Kona Village Resort, and others.

More from Ian Cassel

Ian Cassel
Ian Cassel
@iancassel
I became financially independent in 2008 at age 27. Or as my Father likes to say, I retired. Yeah right. It’s more like you exchange security for total insecurity.

I get asked a lot about how much capital you need to become a full-time investor. That answer will be different for everyone. It’s a personal decision. I was single with no kids living in Lancaster, PA. It was a great time to make that decision.

I would say a much better question is how much pain can you endure.

Can you sustain a 30-40-50% drawdown while also drawing it down to pay bills?

How would this affect you emotionally, psychologically?

Would two or three bad years in a row cripple you?

At what point would your investment strategy start to crumble by these emotions?

At what point does my advantage of “focus on the long-term” shift to “this next quarter needs to be good” or else..

Am I mentally prepared to perhaps go to my wife and tell her I failed and can’t support us anymore? That I need to get a job, that she needs to get a job.
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Ian Cassel
Ian Cassel
@iancassel
Poor Investors often disguise inexperience with arrogance. Rich investors disguise experience with humility. The richest person in the room is usually the quietest one in the room. The poorest person in the room is usually the loudest one in the room.
WISE INVESTING
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Ian Cassel
Ian Cassel
@iancassel
Great post. Lots of similarities with how you invest and successful microcap investing. The first bet is about the broad strokes. The subsequent bets is when you see the details fill in and average up. Buy low and then don’t be afraid to buy higher - sometimes aggressively.
WISE INVESTING
Ian Cassel
Ian Cassel
@iancassel
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and crave action.
WISE INVESTING
Ian Cassel
Ian Cassel
@iancassel
We are all fighting the same battles: Riding a winner deciding if you should hold it. Holding a loser deciding if you should sell it. Sticking with a stock that has gone nowhere for quarters/years questioning your thesis. You aren’t alone. We are all fighting the same battles.
WISE INVESTING

More from Culture

The Light - Truthpaper
The Light - Truthpaper
@LightTruthpaper
Latest update from @TheBernician

1/19

Hancock, Whitty, Vallance & Ferguson Stand Accused of Pandemic Fraud.

After yet more damning evidence arose last week, further additions had to be made to the court papers, which we are now aiming to lay in the coming week.

2/19

The four defendants will be Matt Hancock, Chris Whitty, Patrick Vallance and Neil Ferguson, each of whom has inextricable and ultimately incriminating connections with Bill Gates and Big Pharma.

3/19

As well as three counts of fraud by false representation and seven counts of fraud by non-disclosure, under sections 2 and 3 of the Fraud Act 2006, we can now also prove that the entire worldwide scamdemic originated on these shores.

4/19

In fact, we can show that, without the dishonest statements and non-disclosures of the four defendants we are initially proceeding against, COVID-1984 would not have transpired.

5/19

Furthermore, the 1st defendant, Matt Hancock, cannot rely upon the defence of Parliamentary Privilege, on the ground that none of the evidence relied upon by the prosecution is capable of preventing parliamentarians from carrying out their lawful business in Parliament.
CULTURE
Pat Gelsinger
Pat Gelsinger
@PGelsinger
In keeping with year-end tradition, I wanted to share the best books I read in 2020 – a year unlike any other - with a list of reads heavily influenced by global events including…

…Race and social justice. While not a planned reading theme as I started the year, social injustices that have plagued our nation for centuries rose up in a jolting manner. May we pass on to our children and grandchildren a more socially just world than we received.

Frederick Douglass, David Blight

Douglass was a self-educated slave who freed himself to become a tireless speaker, political leader & passionate reformer. Even reading his speeches today, you feel drawn to the power, drama & personal suffering of this great man.

Bonhoeffer, Eric Metaxas & Timothy Keller

Theologian, Pastor, Church Leader & spy/traitor. Quite a resume for an influential young German aristocrat. Details the rise of Hitler & pure evil unleashed in the face of the pure good of Christ as seen through Bonhoeffer’s eyes.

So You Want To Talk About Race, Ijeoma Oluo

Jarring. We have so far to go as we confront the realities of systemic racism. Since reading I've sought out reverse mentors to try and learn more. Get comfortable with being uncomfortable. (Much profanity for those sensitive to such)
CULTURE , WORLD
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Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
Inequality requires narrative stabilizers. When you have too little and someone else has more than they can possibly use, simple logic dictates that you should take what they have.

1/


The forbearance exercised by the many when it comes to the wealth of the few isn't down to guards or laws - rather, the laws and the guards are effective because of the STORY, the story of why this is fair, even inevitable.

2/

Think of the story of monarchy and its relationship to the Church: the Church affirms that the monarch (and the aristocracy) was chosen by God ("dieu et mon droit") and the monarchy reciprocates by giving the Church moral and economic power within the kingdom.

3/

Capitalism replaced the story of divine will with a story of a self-correcting complex system: humans are born and raised with a variety of aptitudes and tastes, and at any moment, historical exigencies dictate that some individuals are better suited than others to do well.

4/

When it's railroad time, there are people who were born to oversee the laying of track and the coordination of rail networks: markets find those people, allocate capital to them, and allow them to mobilize that capital to produce shared prosperity for all of us.

5/
CULTURE
Chris Pramas
Chris Pramas
@Pramas
Today’s game supplement is Death in Freeport (2000) from Green Ronin Publishing. I haven’t really featured my own work on #CuratedQuarantine to date but it is relevant to the d20 story.


D&D 3E, which I talked about yesterday, was released with two attached licenses: the Open Game License and the d20 System Trademark License. #CuratedQuarantine

The basic idea was to give other publishers a legal way to release D&D compatible material and to be able to indicate that with a special d20 System logo. This would eliminate a lot of legal headaches that TSR and then WotC had to deal with. #CuratedQuarantine

It was also hoped that certain types of support books that WotC had difficulty selling in large numbers—short adventures in particular—could be taken up by third party companies. I remember the work meeting where all this was pitched to the staff. #CuratedQuarantine

WotC was too big to be agile, it was argued, so let other companies provide support material. The more people kept playing D&D, the more WotC would benefit. #CuratedQuarantine
CULTURE
Methuen Drama
Methuen Drama
@MethuenDrama
So many fantastic recommendations here:

Including @Lolitachakra's 'Hymn' starring @AdrianLester & @DannySapani live-streaming from @AlmeidaTheatre. Playtext available here:

And @mogster's @EmiliaThePlay archive recording available throughout March on a pay what you can basis. Read the playtext here:

'The Whip' is also available as an audio recording on Youtube until 16th March.

Playtext:

Philip Ridley’s brand new play 'The Poltergeist' is available online until 28th Feb and you can pick up a copy of the playtext here:
CULTURE

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Warrior Axom
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I am a student of DHSK college, Dibrugarh. I belong to 1 st Sem , History Department. And my generic subject is Political Science. Our history professor Mr Abhijit Baruah on our first day said
1) You Hindus don't have any history
2) If you want to study real history contd...

then study Islamic& European history.
3) He is a hardcore communist ( urban naxal I must say )

4) He says you hindu people don't have any history coz you people were busy writing about your imaginary Gods.

5 ) He says us to read history books of Romilla Thapar ( hindu hater)

He is brainwashing students since 80s. Another professor Mr Biraj Dutta says "we need revolution. Ami Delhi r sorkar uforai pelabo lgibo " Another Comrade professor Mr Sun Gogoi of Pol Sc. Dept says Urban Naxal is a derogatory term used by fascist Hindutva goons to defame (3)

Students of JNU and overall all the student community. He says Lala Lajpat Rai & all the nationalist politicians of that time were casteist including former President of India Mr Rajendra Prasad.

Now the historic DHSK college & all the college's of Assam may doing this from (4)

a long time. Now what should I do ? Should I stand against them. Should I oppose them ? My inner Hindu does not allow me to tolerate anymore.
Should I complain ? But to whom ? Anyone can be an Urban Naxal . Whom to believe? Should I think about my career & keep quite (5)
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Patrick McKenzie
Patrick McKenzie
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
CRYPTO
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Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
RANI NAIKI DEVI AND THE BATTLE OF KASAHRADA

Mohammad Ghori, the young Ghurid Prince conquered Ghaznavids in Afghanistan in the year 1173 CE. He conducted some successful raids into the Indian territory, which even Mahmud Ghazni & the Persians couldn't do.


First&foremost,Ghori invaded states of Multan &Uch in India.After this he turned to southern states of Gujarat &Rajputana.Everybody knows this about Ghori,but what most pple r unaware of is the defeat he suffered at hands of Chalukyan Queen Naiki Devi in 1178 Battle of Kasahrada.


When he marched southwards, his first target was the prosperous fortified town of Anhilwara Patan.
It was the capital of Chalukyas(also known as Solankis of Gujarat) which was established by Vanraj of Chapotkata Dynasty in 8th century.


American historian Tertius Chandler states that it was the 10th largest city in the world at that time. The history of Chalukyas has been written by many historians, but the valour of the Great Queen Naiki Devi remains unsung.


Born to the Kadamba King Paramardin of Goa,Naiki Devi was well trained in sword fighting, horse riding, strategy & every other subject of Statesmanship. She was married to King Ajaypala of Gujarat who sat on throne in 1171CE. Unfortunately,the King died within 4 yrs of his rule.
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sriram
sriram
@SriramKannan77
'Treasure Gods' - Sangha Nidhi' and 'Padma Nidhi', Tirumala, Tirupati.

------------------------------------

These are the two guards guarding the Wealth and Treasure of Lord Sri Venkateswara.

They are representatives of two treasures of Kubera, the God of Wealth.


One guard who is holding shangam (conch) on both the hands is known as Shanka Nidhi ('nidhi' means wealth).

On the other side, the guard who is holding Lotus flowers on both the hands is known as Padma nidhi.

Shangu is from the ocean which includes all types of wealth like pearls and corals.

Why shagam in his hand? Because shangam only gives the sound of 'omkaram'.

'Padmam' is the symbol of water sources in land like river, lakes, tanks etc. which is very important for all living beings.

As per the tradition, these guards are installed at the third entrance of the temple.

One enters the holy shrine after saluting the first protection threshold - Sankha Nidhi and Padma Nidhi.
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Paras Chopra
Paras Chopra
@paraschopra
1/ Here are my notes from @robertwrighter's book - Nonzero: the logic of human destiny. I enjoyed the book very much.

The basic premise of the book is that history has a direction which favors co-operation and non-zero sum games, and that causes an increase in complexity.


2/ Starting from the first replicating molecule which co-operated with an outer layer to form first proto-cell, evolutionary and cultural history is full of examples where two entities come together to survive and progress a lot more than they would have done individually.

3/ This co-operative entity fares much better than two individual entities because of specialization. If two entities are in the same boat - that they win together or lose together - then trust is implicit.

4/ In a non-zero sum game, trust causes entities to focus on what they do best.

For example, eukaryotic cells - the ones animals and plants have - emerged when two proto-cells merged, and one took the role of energy generator (mitochondria), the other specialized in protection.

5/ Some scientists believe that even nucleus in a cell is a result of an early cell merging with another cell.

So M&A is not a recent phenomena, entities have been merging because of common interests ever since life started.
CULTURE