1/ Hey guys, remember that time Steve Bannon ran an army of game virtual currency miners in Asia, for sale to westerners at discount prices, arbitraging attention for profit?

That was

THREAD: It’s time to clarify an ethical stance regarding QAnon, and those who research and report on it. It is a disease — a mind virus — with real victims, people who have been lied to and alienated from their families and communities.

2/ First, we must help the victims, and focus on helping them restore their bonds to family and community. Second, we must hold the perpetrators accountable. Third, we must shun all those who profit from its continuance.

@ropebelt Yes, though we have been on edge for deep fakes for a good while now, and remain constantly impressed at how well cheap-fakes and simple manipulations work. Deep fakes are the caviar of the trade, when McNuggets work just fine.

THREAD: Now that @Amazon @awscloud has announced they will no longer host @parler_app, many have speculated that they will just “find another host.”

Here is why that’s not so simple and what it will likely mean for the app’s future. First, let’s look at where things are...

2/ Google and Apple have removed the app from their app stores, effectively terminating growth on mobile devices. People can still access the (not good) web UI until Amazon terminates them today. CEO Matze has said they may be down “up to a week” while they find new hosting.

3/ Translated to English, that’s code for “we have no idea what’s going to happen next.” No US cloud provider (Microsoft, Google, IBM, Digital Ocean) is likely to touch this, as it could be seen as providing material support for sedition. No CEO or counsel wants to get near this.

4/ They could potentially “roll their own” data center by buying servers and putting them in a co-location facility. But that’s a single point of failure, and many colo providers would be just as likely to decline their business. It would be hard and risky to pursue this.

5/ Imagine, after they sweated like pigs to get this hardware all setup, if they get told their colo provider is booting them. That’s a lot of metal to then move somewhere else. Meanwhile, the user base is deteriorating because chaos and dying apps. They will go to other venues.

Four years ago this month, there was an uproar among analysts (and the public) about whether Cambridge Analytica was a PSYOP. The word is triggering; it tends to get people animated, makes people think of conspiracy theories, implies a grand master plan, shadowy operators, etc.

I have a good memory of that. What's happening now re: QAnon and whether it was a PSYOP and by whom is comparable. And it's a pointless debate. Any operation that 1) does target audience analysis, 2) deploys messaging against audiences, 3) tries to alter behavior, is a PSYOP.

The origin of this particular operation is complicated, networked, and muddied by people who wish to both claim and disclaim it. But it is functionally a PSYOP, has borrowed from that heritage, and can be analyzed in those terms. Miss me with claims to the contrary.

Researchers, journalists, and historians need to get to the bottom of how it evolved (and it did evolve, vs. a unified top-down plan), and we can do that if we work in good faith together. But we have to accept the fact that these kinds of operations are now commonplace.

It also helps to use the lens of emergence; information ops evolve, and incorporate DNA from everything that has come before: LARPs, ARGs, PSYOPs, the general public's participation + gullibility. In that context, one doesn't need top-down orchestration, necessarily.

Investigating networked disinformation and influence campaigns is hard. SIGINT is often scarce, and encrypted. But people are sloppy; HUMINT is vital, and developing it requires an iterative approach. Each cycle of reporting exposes more players, which attracts more sources.

1/ Thread: $GOOG 4Q'20 Update

For the first time, GOOG segmented its cloud revenues/income separately, and overall revenue was >20% in 4Q which led to +7% after-hours reaction yesterday.

Here are my notes from earnings/press release.

2/ In the last quarter, here is the segment-wise growth:

Search +17.4%
YouTube ads +46.0%
Google Network Members +22.9%
Cloud +46.6%

Cloud more than doubled in the last two years.
Other bets losses $4.5 Bn in 2020 (vs $4.8 Bn in 2019)

3/ Operating margin in Q4 ~28%
FCF margin in Q4 ~30%

One of the big takeaways was the core business was even MORE profitable than most investors thought since cloud had -42.9% operating margin.

$GOOG's search business is a good comp for Fed in terms of "printing" money. JK.

4/ "you can track takeout and delivery orders when you book or order from Google Maps"

"More than 0.5 million channels livestreamed on YouTube for the first time in 2020"

"videos in our new Shorts player are receiving 3.5 billion daily views."

5/ Google Pay app is now used by >150 mn people in 30 countries.

Cloud backlog $30 Bn now (from $19 Bn in Q3)

# of Deals >$250 Mn became >3x

Waymo is providing hundreds of fully AV rides per week

Retail searches >3x YoY

Cloud operating losses flat YoY

Thread: Central Pivot Range (CPR)

CPR is another popular tool. Three lines are plotted on the chart when we plot CPR.

The three lines are: CPR, TC and BC.

Let’s understand the calculation.

You may recall that I explained the calculation of Pivot levels in an earlier thread. CPR stands for Central Pivot Range. It is always a center line of the three lines that gets plotted in the chart.

CPR is a Pivot price. Pivot is average of HLC as explained in the prev thread.

We also discussed about Mid-range of the session. Mid-range is average of High and low price of the session.

The mid-range of the bar is known as BC in the CPR calculation. BC stands for Bottom central pivot.

Pivot level captures the relationship of the closing price to the range of the session.

Pivot price above mid-price = bullish pivot
Pivot price below mid-price = bearish pivot

So, CPR line is Pivot and BC line is Mid-range.

What is the difference between both?
Mid-range is average of High and Low.

Pivot is average of High, Low and Close.
What will make the difference between the two?

Close.

(Thread) Why do I own individual stocks?

Thesis:

1. The digitalization of our world is 10% complete.
2. This megatrend will continue for at least another decade.
3. If you enjoy spending your free time on individual stocks, then the potential for outsized returns is possible.

What is my approach?

There are two parts to my portfolio.

- 40% in Vanguard All-World ETF. This is on autopilot w/ regular contributions.
- 60% in what I consider to be high growth stocks

I keep a balance by adding cash. No shuffling around unless it gets too out of whack.

The latter is the interesting part.

I invest in companies that can

1. successfully disrupt an industry with new business models $TTD $SQ $PTON $TDOC

2. further enable the digital transformation with their services and infrastructure $ZS $HUBS $TWLO $CRWD

I intend to hold my shares indefinitely and allow my investments to compound over time.

I don’t believe that it is possible to time the market. Markets go up and down. I hold on knowing that quality businesses tend to bounce back.

The list of reasons to sell is always long.

If you have full conviction in your holdings, then no single piece of “infotainment” should make you change your mind.

Ignore it + people who make predictions about the economy.

1/ If, after reading https://t.co/IzzATArtZl you are still confused how Alpha Homora and IronBank were hacked, here's how the hack was conceived

2/ Normally when you borrow funds from AH bank, your debtShare and totalDebt increases. Specifically if you want to borrow x tokens, your debt share will be calculated as:

share = x * totalShare / totalDebt

and it is added to totalShare

3/ All these numbers are very big integers (as token precisions are 18 digits) and the calculation is correct, but when totalShare = 1 (think 1 wei) and x < totalDebt, new debt share will be 0 (integer division)

4/ So if you manage to have AH bank with totalShare = 1, and some totalDebt you can repeatedly borrow less than the totalDebt (ideally totalDebt - 1) effectively doubling totalDebt in each iteration. You can do it as many times as you want, while totalShare will remain 1

5/ Eventually Iron Bank that supplies funds to AH will run out of funds, so when amounts get big enough (you are doubling each time), also make sure to replenish it with flash loan

Anyone have any opinions on how self-insured employers consider innovative healthcare offerings to pass on to their employees?

As I understand it, by shouldering the financial risk, self-insured employers can curate a list of more relevant benefits ... (1/10)

... thereby avoiding paying out lofty insurance premiums for services that its employees don't use or want. There seems to be a long list of intangible benefits having to do with talent acquisition and retention, but I'd like to understand the cost equations more fully. (2/10)

In the context of multi-cancer screening, I'm skeptical that it could be cost-saving for small or medium-sized employers (<500 employees). Assuming a representative sample of the population, there are simply too few cancers and too many false positives w/ expensive ... (3/10)

... diagnostic follow-ups to bend the unit-economics in the right direction. Indeed, for larger self-insured employers, maybe on the order of thousands of employees, the dynamics may change. Each true positive is a chance to save on treatment cost and (possibly) to ... (4/10)

... extend life. However, employers won't likely be able to distinguish between true life-extension and lead-time bias without prospective, randomized studies, which are due out in the 2024-25 timeframe. Still, these likely will include interim endpoints only. (5/10)