BC FINANCE
Saved by @CodyyyGardner

Today's Twitter threads (a Twitter thread).

Inside: Competition is Killing Us; Predatory lender seeks national bank charter; Militarizing cops was a failure; and more!

Archived at: https://t.co/mFat1Fsadn

#Pluralistic

1/

 Competition is Killing Us: Consumer harm considered harmful.

https://t.co/oJTENrDhFD

2/
Predatory lender seeks national bank charter: Oportun led America in suing latinx borrowers during the pandemic.

https://t.co/FPK6NTwFjj

3/
Militarizing cops was a failure: Water still wet.

https://t.co/OACizKzNru

4/
#15yrsago Hollywood’s Canadian MP claims she’s no dirtier than the rest https://t.co/iOEH3n3sON

#15yrsago John McDaid’s brilliant sf story Keyboard Practice free online https://t.co/ciVbtorYiV

5/
#5yrsago Gene Luen Yang’s inaugural speech as National Ambassador for Young People’s Literature https://t.co/mUIAvVHLvy

#1yrago Three years after the W3C approved a DRM standard, it’s no longer possible to make a functional indie browser https://t.co/dG1yBUdU5W

6/
#1yrago A Public Service: a comprehensive, comprehensible guide to leaking documents to journalists and public service groups without getting caught https://t.co/5TqvsyzGSF

7/
Yesterday's threads: Into the breach; Revolutionary Colossus; and more!

https://t.co/u9iFLy7PsK

8/
My latest novel is Attack Surface, a sequel to my bestselling Little Brother books. @washingtonpost called it "a political cyberthriller, vigorous, bold and savvy about the limits of revolution and resistance."

Get signed books from @darkdel: https://t.co/HfWfdx8sIu

9/
I have a (free) new book out! "How to Destroy Surveillance Capitalism" is an anti-monopolist critique of Big Tech that connects the rise of conspiratorial thinking to the rise of tech monopolies and proposes a way to deal with both:

https://t.co/Us0SPxlcmD

10/
My ebooks and audiobooks (from @torbooks, @HoZ_Books, @mcsweeneys, and others) are for sale all over the net, but I sell 'em too, and when you buy 'em from me, I earn twice as much and you get books with no DRM and no license "agreements."

https://t.co/vpGcSZiPZ2

11/
Upcoming appearances:

* What if the future of our public lives online looked like _____? (panel at New_ Public), Jan 13, https://t.co/PoSqIrbIL8

* Keynote for https://t.co/Lr61KpUI3e, Jan 22 (US) 23 (Australia) https://t.co/7dfEFubGFn

12/
Recent appearances:

* Hedging Bets on the Future (Motherboard):
https://t.co/7YeNDAjLfc

* Applying the Pandemic Mindset to Climate Change:
https://t.co/syTXEF1gFz

* 2020 Beaverbrook Lectures:
https://t.co/SGDUBRVAC1

* Bibliotherapy/Shelf Healing:
https://t.co/nPJvYlpa9S

13/
My first picture book is out! It's called Poesy the Monster Slayer and it's an epic tale of bedtime-refusal, toy-hacking and monster-hunting, illustrated by Matt Rockefeller. It's the monster book I dreamt of reading to my own daughter.

https://t.co/yQLVua4WkB

14/
You can also follow these posts as a daily blog at https://t.co/iSBh8s9m7q: no ads, trackers, or data-collection!

Here's today's edition: https://t.co/mFat1Fsadn

15/
If you prefer a newsletter, subscribe to the plura-list, which is also ad- and tracker-free, and is utterly unadorned save a single daily emoji. Today's is "💅🏾". Suggestions solicited for future emojis!

Subscribe here: https://t.co/TwPzz87nAw

16/
Are you trying to wean yourself off Big Tech? Follow these threads on the #fediverse at //twitter.com/[email protected]." target="_blank">@[email protected].

Here's today's edition: https://t.co/sSevHyx4JG

17/
Today's top sources: Boing Boing (https://t.co/TrJ3nmo0o2).

eof/

More from Cory Doctorow #BLM

Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
The Democrats are at least two parties. The progressive wing of the party (which is by no means unified) and the finance wing of the party, which is also the party leadership.

1/

During the leadership race, the progressive wing was represented by @SenSanders and @SenWarren; the former wants to minimize the role of markets in our lives, the latter wants to redeem markets by regulating them. It's a distinction with a difference, but I donated to both.

2/

Both wings of the party have prominent representatives in Congress; Sandersism are most visibly associated with @AOC (whom I donated to) and Warrenism is embodied by @RepKatiePorter (likewise), who was also one of Warren's law school proteges.

3/

Porter is a force of nature. She is infamous - and celebrated - for her brutal, no-holds-barred questioning of both corporate and administration witnesses, using a white-board to pin them down and eviscerating any attempts at bullshittery.

4/

This isn't just about getting facts into the record (though, she is SO GOOD at getting facts into the record!), it's also about effecting change, like when she single-handedly cornered the CDC's chief into guaranteeing universal, free covid
POLITICS
Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
Happy Birthday to the queen of the scream queens, Barbara Steele! https://t.co/qnhQvROGVa


Happy Birthday to the queen of the scream queens, Barbara Steele! https://t.co/qnhQvROGVa


Happy Birthday to the queen of the scream queens, Barbara Steele! https://t.co/qnhQvROGVa


Happy Birthday to the queen of the scream queens, Barbara Steele! https://t.co/qnhQvROGVa


Happy Birthday to the queen of the scream queens, Barbara Steele! https://t.co/qnhQvROGVa
HISTORY
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Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
There is no shortage of takes about what's going on with Gamestop (and other surging stocks), Robinhood and Reddit's r/wallstreetbets, many of them contradictory - at least on the face of them. But I think it's possible for most of these takes to be right. Here's how.

1/


First you need to understand the underlying mechanics of the story. Stock markets are fundamentally a way of making bets, including bets on the outcome of other peoples' bets, and bets on the outcomes of THOSE bets.

2/

All this complexity creates lots of exploitable opportunities. Some of these opportunities are considered legitimate and are given respectable names like "arbitrage." Others are considered illegitimate, and are called disreputable things like "stock manipulation."

3/

A hypothetical Martian observing all this through a telescope could not tell you which kinds of bets were honest and which were dishonest, because the difference isn't about any objective standard, but rather, about power.

4/

The strategies of powerful people are legit, while the strategies of their would-be dethroners are not legit. Sometimes, even outright frauds are OK if they're done by people with enough power.

5/
TRADING , STOCK MKT
Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
When it's railroading time, you get railroads.

When the railroads turn into the personal satrapies of rail-barons, you get trustbusters.

A couple decades ago, it was online service time. We had the users, the telcoms systems, the computers, the modems, so we got platforms.

1/

We had that, but we lacked something important: effective antimonopoly enforcement. Lax merger laws allowed companies with access to capital markets to buy out or neutralize all their competitors, so we got monopolies.

Right on schedule, we're getting digital trustbusters.

2/

Now, some people aren't technically sophisticated, but they do understand a lot about competition law. That's how you get meat-and-taters antitrust proposals like @amyklobuchar's #CALERA, which address the structural problems with antitrust

Klobuchar's bill is hugely important. The reason we have monopolies is that we stopped enforcing anti-monopoly law 40 years ago. Monopoly isn't a tech problem, it's everywhere from sneakers to glass bottles to pro wrestling to candy to

Klobuchar's CALERA doesn't just seek to apply antitrust law to tech - it also explicitly restores the pre-Reagan basis for fighting monopolies: we fight monopolies because they concentrate power and corrupt our politics. All monopolies are guilty unless proven otherwise.

5/
SOCIETY
Cory Doctorow RIGHT-CLICKING WORDCEL MENTALITY
Cory Doctorow RIGHT-CL...
@doctorow
I've just read one of the most lucid, wide-ranging, cross-disciplinary critiques of cryptocurrency and blockchain I've yet to encounter. 1/


It comes from David "DSHR" Rosenthal, a distinguished technologist whose past achievements including helping to develop X11 and the core technologies for Nvidia.

https://t.co/tkAMShno4k 2/

Rosenthal's critique is a transcript of a lecture he gave to Stanford's EE380 class, adapted from a December 2021 talk for an investor conference. 3/

It is a bang-up-to-date synthesis of many of the critical writings on the subject, glued together with Rosenthal's own deep technical expertise. He calls it "Can We Mitigate Cryptocurrencies' Externalities?"

The presence of "externalities" in Rosenthal's title is key. 4/

Rosenthal identifies blockchainism's core ideology as emerging from "the libertarian culture of Silicon Valley and the cypherpunks," and states that "libertarianism's attraction is based on ignoring externalities."

This is an important critique of libertarianism. 5/
CRYPTO

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Naval
Naval
@naval
How to Get Rich (without getting lucky):

Seek wealth, not money or status. Wealth is having assets that earn while you sleep. Money is how we transfer time and wealth. Status is your place in the social hierarchy.

Understand that ethical wealth creation is possible. If you secretly despise wealth, it will elude you.

Ignore people playing status games. They gain status by attacking people playing wealth creation games.

You’re not going to get rich renting out your time. You must own equity - a piece of a business - to gain your financial freedom.
LIFE , STARTUPS , NAVAL1
Karthik Rangappa
Karthik Rangappa
@karthikrangappa
Newbie traders after learning F&O, look for paper trading platforms to practise. It's like the itch to swim after you learn swimming but end up in a baby pool. Experience of an adult pool vs a baby pool is different, likewise with the real markets & paper trading 🧵 (1/11)

Agreed, without experience, loading your trading account to the tilt and trading can be disastrous 🌋, but that does not mean you will have to paper trade forever. No matter how much you paper trade, you will never get the experience of trading (2/11)

When I talk about trading, I’m not just talking about experiencing the P&L rush. IMHO, experiencing the P&L and how it can vary in real-time is the last thing. There are multiple other things that you need to get comfortable with before diving into full-fledged trading 🏊‍♂️(3/11)

Stuff like placing limit/market order, GTT, AMO. Practising how SL-L for long & short positions works, trailing stops, figuring how margins work, M2M, T+1, T+2 settlements - the list is endless😩 with several moving parts. No paper trading platform gives you the real deal (4/11)

Here is a hack, though - instead of paper trading, try and place an actual trade on a low-value futures contract. My favourite is USD INR 💱, it costs just under 2K per contract, but gives you the whole trading experience (5/11)
ALL , FINANCE
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Kevin Dahlstrom
Kevin Dahlstrom
@Camp4
🤔 Thread: More of the wrong thing is less
(or, how I stepped off the hamster wheel)

I’m going to share a personal story with hope that it inspires at least one person to re-examine their definition of success 👇

Through hard work and an unfair share of luck, I’ve done some cool “bucket list” things in my career:

✅Raised VC from the worlds’ top firms
✅Helped build 100’s of millions in revenue from nothing
✅Rang the bell at the NYSE
✅Met & did deals with billionaires & business icons

These are things I dreamed about when I was young and I treasure some of the memories. But when they finally happened I felt surprisingly unfulfilled. I was scoring lots of points but didn’t feel like I was winning.

Then a few years ago during a board meeting I had a moment of clarity. I looked around the table at 10 people, all absurdly successful by financial measures. There wasn’t a single person I wanted to emulate. Most were unhealthy and several had told me that they were unhappy.

Within months I walked away from from a 7-figure salary, moved my family to Boulder, & haven’t looked back. Don’t get me wrong, I’m a capitalist & like money as much as anyone. But for me it's not the thing, and *more of the wrong thing is less*.
FINANCE , VISION
Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Two year back thread on MFI, someone liked this so came up in notifications . Rather than running around 100s of indicators, I have made this my go to indicator under any circumstances and have been using this for years


This thread actually had some great answers , one can learn a lot about the thought processes of different traders from the answers. Please go thru them
MFI , FINANCE
Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Ok here is the explanation. Grab a cup of coffee and read on. If you have not read/noticed this, you will see intraday options movement in a new light.


Say we have two options, one 50 delta ATM options and another 30 delta OTM option. Normally for a 100 point move, the ATM option will move 50 points and the OTM option will move 30 points. But in a high volatile environment, the OTM option will also move nearly 50 points

To understand why this happens, first understand why an ATM option is 50 delta. An ATM option has the probability of 50% of expiring as ITM. The price just has to close a rupee above the strike for the CE to be ITM and vice versa for PEs

Now think of a highly volatile day like today. If someone is asked where the BNF will close for the day or expiry, no one can answer. BNF can close freakin anywhere, That makes every option of an equal probability of being ITM. So all options have a 50% probability of being ITM

Hence, when a huge volatile move starts, all OTM options behave like ATM options. This phenomenon was first observed in the Black Monday crash of 1987 at Wall Street, which also gave rise to the volatility skew/smirk
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5/ Mistake 3: Make a first sales hire who isn’t scrappy enough to help mold the sales process from scratch. Some salespeople are amazing at their jobs, but not cut out to establish the processes that others end up following. This skillset is what @rdedatta calls a “sales ninja”.
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What does Gold- Backed mean?
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It was designed by the Alliance to fund the new financial system that will reset all Currencies of the world to Gold-Backed currency./5
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Sri Maha Bhairavar Rudhra alayam, Chengalpet, Tamilnadu

This temple is being constructed merely on the instructions from Bhairava by his devotee Shri Bhairava Siddhantham Swamy. The Temple is fully enshrinedin a transparent glass enclosure..1/n


with Rudrakshas on both the sides of the entrance This temple has a circular Sanctum Sanctorum which has twelve stepseach representing a sign of zodiac and after that twelve steps we find the supreme deity of this temple Sri Kshetra Paata Bhairava. 2/n


Beneath the Bhairava, in the lower level are installed the Ashta Bhairavas, SapthaRishis in the form of stones, and Saptha Kannis in the form of brass lamps. Thereare a number of little blue and white lights in the ceiling that is shaped like a dome.. 3/n


which give an ethereal atmosphere when switched on. The steps representthe twelve signs of the zodiac and when one steps over them to reach thesanctum sanctorum all the doshas pertaining to the horoscope are cleared onceand for all..4/n


The Sthala Vriksham ”Peepal Tree” which is grown on a pedestal, a trident which is considered as Bhairavi, Pancha Mukha Anjaneya, Prathyankara Devi, Subramanya, Rudra Vinayaga, Vaishnavi Devi, Naga Rudra, Eswara, Vana Durga etc. 5/5

#IncredibleBharat
#DekhoApnaDesh
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Roger Grosse
@RogerGrosse
Important paper from Google on large batch optimization. They do impressively careful experiments measuring # iterations needed to achieve target validation error at various batch sizes. The main "surprise" is the lack of surprises. [thread]

https://t.co/7QIx5CFdfJ


The paper is a good example of lots of elements of good experimental design. They validate their metric by showing lots of variants give consistent results. They tune hyperparamters separately for each condition, check that optimum isn't at the endpoints, and measure sensitivity.

They have separate experiments where the hold fixed # iterations and # epochs, which (as they explain) measure very different things. They avoid confounds, such as batch norm's artificial dependence between batch size and regularization strength.

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Importantly, they don't find any evidence for a "sharp/flat optima" effect whereby better optimization leads to worse final results. They have a good discussion of experimental artifacts/confounds in past papers where such effects were reported.
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...(1648-1663) as a scarf-bearer.  The post ‘scarf-bearer’ or ‘Soladhara Barua’ is considered as a part of the incumbent king’s personal staff. Owing to his military training Lechit was appointed "Ghora Barua", Supdt. of the Royal horses. When Chakradhwaj Singha became king..


..of Ahom dynasty in 1663,he appointed him Suptd. of The Royal Guards &finally he was appointed as Borphukan by the king.Then onwards,he was known as Lachit Borphukan.Borphukan used to be top councillor in Ahom Kingdom. This position was embedded with executive & judicial powers.


Assam was facing incessant Islamic invasion since Jan1662, when Mughal General Mir Jumla II attacked Ahom capital Gargaon. He never defeated Ahom king Jayadhwaja Singha as king retreated to hill &continued Guerrilla warfare.Prolonged fight &prospect of stalemate disturbed Jumla.
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