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nome
nome
@NomeDaBarbarian
Lemme do some quick back of the envelope math about wages.

On a busy day at the pizza place, we'd have the following crew:

Drivers: $2/hr Tip Wage - 44 man-hours
Insiders: $8/hr - 20 man-hours
Managers: $12/hr - 22 man-hours

For a total of ~$512. Aiming for ~15-20% of sales. /

That works out to ~17% on a ~$3000 night, so that's bang-on target.

Let's say we raised everybody there to a $15/hr wage.

We'd end up adding $778 to labor for the day.

More than doubling! That sure sounds like a lot!

But hang on a second.

Let's assume for easy math that what we're selling is $10 one-topping large pizzas.

For 3k, we're selling 300. We've got to divide up that 778 between the pizzas.

That raises the price of each pizza from $10 to $12.59.

"That's... well, not huge, but it's still more money!"

Definitely! But, here's something important.

The price of a pizza has actually gone down.

Remember, money isn't real! It's a representation of the time worked.

The vast majority of the people we had been selling that pizza to weren't making $15 an hour before. We were in a college town, that manager wage of $12/hour was a /good/ wage. WE were buying that pizza.
FINANCE
Ilhan Omar
Ilhan Omar
@IlhanMN
As a young immigrant, I took out thousands of dollars in debt to go to for-profit college—thinking it was part of the American Dream.

Like millions of Americans, I was left deeply in debt with a worthless degree and shoddy education. #CancelStudentDebt

I was fortunate enough to eventually go to a public university and begin to pay it off, but millions do not have that luxury.

Here are some misconceptions about who has debt and why we need full cancellation.

Is this really a crisis?

Yes! Student debt has more than doubled in just 10 years. 45 million Americans now are saddled with over $1.7 trillion in debt—and the delinquency rates have nearly doubled.

Isn’t it already cancelled during the pandemic?

Student loan interest is on hold during the pandemic—but the debt is not forgiven. That means millions will owe thousands of dollars in backpay if that debt isn’t relieved.

Does President Biden have the authority to end the crisis?

Yes! The federal government owns 92% of the $1.7 trillion in student debt. Biden can forgive it with the stroke of a pen.
FINANCE
Wagatwe Wanjuki \U0001f1f0\U0001f1ea \U0001f1e7\U0001f1f8
Wagatwe Wanjuki 🇰🇪 🇧🇸...
@wagatwe
many points of this list boil down to MORE money for cops.

they’re asking for ONE BILLION DOLLARS in additional funding for the rape kits ALONE.


notice many of these points are about giving more money to the state so they can put more people in jail.

i’ve long said the concept of a “rape kit backlog” is copaganda. it helps cops look like they’re not the ones actively sabotaging rape cases AND justify get more $$ for an issue they don’t care about.

"as you know, this means that thousands of sexual offenders remain at large, free to reoffend"

Carceral.


Ah, yes, trauma-informed abuse 🤩

Notice how they use "strongest predictor of arrest" as a metric for success. So it isn't even about victims...its about the system throwing more people in jail. They keep talking about rapists being "at large#"
FINANCE
PrrplFrog
PrrplFrog
@PrrplFrog
1/14 Now that everyone and their mother is talking about $LUNA & $MIR my message is

We don't need the money

This is why

👇

2/14 Vast majority of crypto assets have insignificant or no adoption at all. The few with the highest adoption are at best very good speculation bets.

3/14 #Ethereum is the King of platforms and today there is no competition even close the liquidity and usage. All this activity is not reflected in $ETH itself and that is why EIP 1559, a proposal to change the economic model is a constant debate.

4/14 Looking at the $ETH example at this point we can conclude the ideal asset needs two important factors

1. Adoption
2. Good value capture

High adoption without a good value capture is not ideal and vice versa

5/14 @terra_money is one of the world's most highly adopted chains with millions of dollars in "real world transactions".

What does this mean and how is this aligned with $LUNA token holders?
FINANCE
Ali khizar
Ali khizar
@AliKhizar
The IPP deal is in final stages.
last week two separate meetings took place by energy and finance teams - one with the PM (on overall reforms of energy sector). The other was with the COAS - specifically on IPPs deal and CD. 1/9

Based on these meetings and IMF's nod, yesterday a proposal is shared with 50 IPPs - pre-94, 94, 2002 and 2006 policy to pay the accumulated CD to materialize IPPs MOUs into agreements. IPPs wanted (out of Rs400-450 bn dues) 1/3rd in cash and 2/3rd in PIBs in a go 2/9

Govt proposed the same in three instalments - 1/3rd in Jan,1/3rd in Jun &1/3rd in Dec. Here IPPs have to sign the agreement based on 1/3rd immediate settlement (within it 1/3rd cash and 2/3rd PIBs) and rest on promises.
But the govt promises are not honored- that is why CD is 3/9

IPPs are mainly on board. Hubco thinks that settlement will take place with some give and take. @MManshaOfficial is saying that we are on board for larger country's interest - and we can use this money for fresh investment. One can safely say that the deal is done. 4/9

Its clearing the existing stock of debt on old IPPs - last time it was done in 2013 - now the whole energy chain may pay dividends- energy stocks at #PSX are rallying today. The elephant in room is 2015 onward projects. Nothing on it yet. 5/9
FINANCE
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Professor Richard A. Werner
Professor Richard A. W...
@ProfessorWerner
@paulbuitink 1-Since the ECB has singularly failed to provide financial stability to the eurozone, but instead was responsible for record credit boom-busts in Ireland, Portugal, Spain etc. followed by vast unemployment and sovereign debt crises, why should the ECB be given any FURTHER powers?

2-Nobody needs CBDC. There is no demand for it. Please provide actual evidence that there is popular demand for it. (NB Demand for bitcoin is no such proof; demand for cash is no such proof, especially since CBDC is designed to abolish cash for negative rate/expropriation policy)

3-Conflict of interest. ECB is banking regulator in the eurozone. Now it is seriously contemplating compromising its umpire role as regulator by stepping into the arena and wanting to directly compete against the banks, which are regulated by the ECB (CBDC=current accounts)...

3b Isn't this anti-competitive; unfair competition? Throws new light on the ECB's past 20 years of policies, which have been aggressively anti-(small)-bank. As the ECB now admits it wants to compete with the banks, have its policies of killing so far 4,800 banks been intentional?

4-ECB claims that CBDC may increase financial stability, but it has been the ECB's disastrous policies that have caused dramatic financial instability over the entire period of the ECB's existence. Why should anyone believe the ECB's claim to aim at financial stability?...
FINANCE
Ryan Gum \U0001f576
Ryan Gum 🕶
@ryangum
Thinking of starting a Substack?

Read this first 👇


As someone working in the creator economy space, I love the movement that Substack started.

They mainstreamed paying for independent writing, and changed the lives of thousands of writers in the process.

But they're building for a specific type of creator.

Substack has made it clear that they're focusing on professional writers.

(Putting my product hat on, this is a smart strategy for them to differentiate and win a specific market)

In 2020 they rolled out initiatives like grants, legal support, and mentorship for writers.

If you call yourself "not tech-savvy", their platform is the easiest out-of-the-box option.

Want to take some time off? One of their smartest features gives writers the power to pause paid subscriptions.

If you're a professional writer, Substack might be a good option for you to start with.

But, there are successful writers who are 'graduating' from Substack when they discover a few
FINANCE
Angus Johnston
Angus Johnston
@studentactivism
Specifically, it would raise the minimum wage to $9.50 on the day of passage, then by $1.50 one year later, increasing by $1.50 each year until it reached $15 in 2025.


One other detail that the NBC screenshots leave out: After 2025, this bill would index the minimum wage to median wages, raising it automatically every year.


Here's the full text of the bill.

The minimum wage bill introduced today would phase out the tipped minimum wage loophole, raising it by $2.50 a year until the tipped minimum wage reached parity with the regular minimum wage in 2025.

Similarly, it phases out the separate minimum wage for disabled workers on the same timetable.
FINANCE
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Ming Zhao
Ming Zhao
@FabiusMercurius
Day in the Life of a Hedge Fund Analyst

Few live to tell the tale.

"Was it like Billions?"
"Describe ur investment process?"
"What did u learn?"

I get these questions all the time, but for a while I was afraid of answering publicly. No more!

Hedge fund story time.
👇
🧵/

1/ ⏰ 6AM Pre-Market Review

Wake up thinking about ur overnight positions.
What happened during London/Asia trading?
Scan the major news on ur way to office.
🏢🚕🚶‍♀️

Think about how ur getting screwed by beta (general macro, FOMC, inflation, etc.) cuz ur net long (or net short).

2/ 7AM Portfolio Review

U'll typically have ~250 names in the portfolio "universe" (stocks w/ active positions & those on watchlist but already modeled).

Review each thesis vis-a-vis new market conditions. Anything changed?
Should u downside/upsize any?
New trade opportunities?

Here's a checklist of top items to check per company:

- Any earnings calls this week?
- Any product releases?
- Any new sell-side reports? Downgrades/Upgrades?
- Any M&A rumors in the space?
- Any management change announcements?
- Any guidance revisions?
- Any legal happenings?

3/ 8AM Plan out your daily/weekly agenda

Major types of events that'll populate ur calendar:
- Investor day at XYZ
- Q1-Q4 earnings call
- XYZ road show
- Dinner event w/ IR (investor relations) at XYZ
- Private buy-side bus trip (w/ mgmt @ XYZ) arranged by GS
- JPM conference
FINANCE , ALL
GrubStreetJournal
GrubStreetJournal
@GrubStreetJorno
Affordable Homes, A Framework, https://t.co/VET1DsupKV via @yumpu_com

https://t.co/rygTmBTuAB via @yumpu_com

https://t.co/T22G9lkhBe via @yumpu_com

https://t.co/6bLlAO00HT via @yumpu_com

https://t.co/hTmmvXEFJv via @yumpu_com
FINANCE
Amit Kumar Gupta
Amit Kumar Gupta
@amitgupta0310
A thread on cumulative FII inflows into India in the CY2020

Background  : This was a widely shared link on social media and also tweeted by FM @nsitharaman amid a lot of discussion around the strong foreign inflows in Indian

India received ~1.6 lakh crore in FII flows last calendar year when most Asian and emerging markets witnessed outflows. This is encouraging stuff one would say. However, this is not the complete story.


The total flows in Secondary markets (Debt + Equity but not including FDI deals in primary markets) are marginally positive. It means as yields collapsed, FIIs switched from Indian debt to Indian equities.

In fact, last 6 CYs (2015-2020) net flow in debt & equity is negligible.


Now one may ask what suddenly changed in 2020. Well, Central banks kept the tap open. That's easy answer.

But still the flows became aggressive only in last two months of 2020 - Nov & Dec


Why in last two months?

Two technical things happened:

(a) MSCI Annual review on Nov 10 brought fresh inflows. This happens every year, so was not
FINANCE
Steve Analyst
Steve Analyst
@EmporersNewC
OK, I don’t think there is much to jump on about the Amsterdam thing.


But I also think that that Andrew Bailey misses the


During the referendum the argument was made that because the EU regulatory regime was agreed with the UK that passporting would be granted.


And we were told it was crucial by Andrea Leadsom’s campaign team after the referendum.


There is a reason why financial services tend to be in separate chapters of trade deals.

They are not the average service.
FINANCE
Louis Pereira
Louis Pereira
@LouisPereira23
A 21-Tweet summary of 𝗧𝗵𝗲 𝗣𝘀𝘆𝗰𝗵𝗼𝗹𝗼𝗴𝘆 𝗼𝗳 𝗠𝗼𝗻𝗲𝘆, by @morganhousel.


1/21
A genius with poor emotional control can be a financial disaster.

An ordinary person with a handful of behavioral traits can be wealthy.

2/21
Every person has unique experiences that shape their views about money.

What makes no sense to you might be completely rational for someone else.

You don't know what they know.

Don't judge their monetary decisions based on your worldview.


3/21
Not all success is due to hard work. Not all poverty is due to laziness.

Acknowledge the role of luck and risk in all outcomes.

When you're taking risks, try to protect your downside.

When you get successful, acknowledge the role of luck.

4/21
'Enough' is a decision, not an amount.

Learn when to make it, and don't fall into the trap of risking your reputation for the chance to earn more money.
FINANCE
Stephen Hinton
Stephen Hinton
@stephen_hinton
THREAD: one more time on the need for citizens to understand the need for, then demand, then deliberate on, then manage - a total pivotal change. Next tweet..what is a pivot and why we need one 1/

We all did this as kids: Walk up a see-saw, you keep going fine until you cross the fulcrum then WHAM! It flips.This is what happens in nature when resources are used up faster than they are replenished. All goes fine until nearly half are used up. All who study biology know..2/

This flip is a population crash. It is natural. Important to know: the crash comes after the point where more resources are being used up than are being replenished. There is a period of overshoot. The crash comes some time after overshoot. Can that happen to humans? 3/


According to Joseph Tainter (1988) there have been three:
Ancient Rome
Mayan Civilisation
Ancestral Puebloans
Modern society is exhibiting all the signs (Club of Rome 1972) 4/
https://t.co/ND85PXV9MB


All of this is well-known by scholars. But somehow it does not seem to have sunk in with citizens in general. The urgency. So let me say it again in a retweet-worthy way 5/
SOCIETY , FINANCE
Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
Today's Twitter threads (a Twitter thread).

Inside: Pelosi kicks Katie Porter off the Finance Committee; and more!

Archived at: https://t.co/zf4VwiHi1P

#Pluralistic

1/


Pelosi kicks Katie Porter off the Finance Committee: Paging Upton Sinclair, Mr Sinclair to the white courtesy phone.

https://t.co/dZSiJ1xFry

2/


#20yrsago Teresa Nielsen Hayden’s formal excommunication https://t.co/7YzBVPa9pr

#15yrsago New discussion draft of GNU General Public License is released https://t.co/s75A4o6n6G

#15yrsago Firefly fans trying to raise enough $ to produce a new season

#15yrsago King Foundation uses copyright to suppress “I Have a Dream” speech https://t.co/PeYSLzHkuq

#5yrsago Worried about Chinese spies, the FBI freaked out about Epcot Center https://t.co/yzSSdYBikn

4/


#1yrago Court case lays bare KPMG’s crimes: poaching employees from its own regulators and making them steal government secrets https://t.co/JdLATfUqF2

5/
FINANCE
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Aditya Todmal
Aditya Todmal
@AdityaTodmal
Here are all the threads posted by @AdityaTodmal and @niki_poojary in January: 🧵

• 8 powerful ways to use Twitter
• Power of Stocks
• 14 Trading Strategies
• Basics of Derivatives (3 parts)
• Technical Analysis for all sectors
• Tweets of the week
• Books on Futures

All the Top 10 tweets threads I have ever posted to date:


Basics of Derivatives Part 1:


8 powerful ways to use Twitter:


Basics of Derivatives Part 2:
SCREENERS , FINANCE
Genevieve Lakier
Genevieve Lakier
@glakier
A thread on Trump’s deplatforming and why I think the debate about it reveals the bankruptcy of contemporary free speech law. 1/17

Many of those who approve of the platforms’ decisions to ban Trump argue that current First A law grants speakers no right of access to privately owned property. and conclude that there is no free speech issue here. 2/17

They’re right on the doctrine: the Roberts Court has gone to extraordinary lengths to make clear that private actors enjoy total freedom under the First A to censor whatever speech they like. 3/17

But this wasn’t always the rule. Until the 1970s, the rule was that the First A limited the ability of private owners to exclude speakers from sufficiently important private speech forums. 4/17

And the current rule is a bad one! Today almost all of the important mass public speech forums are privately owned. Do we really want private companies to completely control who gets to speak in these vital public spaces? Surely not. 5/17
FINANCE
Schalk Louw | Mr Louwcal \U0001f1ff\U0001f1e6
Schalk Louw | Mr Louwc...
@SchalkLouw
#Global #ETF Weekly (thread): 15 Jan 2021

- 2020 worst perf #sector making comeback in 2021 $IXC

- This is helping #oil producing countries with #Nigeria, #UAE & #Russia in top5 #Country ETF YTD performers in USD $NGE $UAE $ERUS

- Few countries moving in red this week


2/8

#Global #Value #stocks still making short-term recovery, with $IWVL #ETF still looking very strong relatively over the short-term. Over 3yr period it is however still lagging quite substantially.

This should be interesting for this months #OrbisvsSP500 unofficial challenge


3/8

This one is worrying, but then again, it's been for some time. #Global #Tech #stocks relative to #MSCI All Country World Index is definitely creating some concern. Be very careful.

$IXN vs $ACWI


4/8

Know this one might create some controversy, therefore disclaimer 1st. I'm also not positive on #US #Bonds over longer-term. But be careful over short-term as $TLT #ETF relative to $SPY indicate oversold (bonds) &/or overbought (equities) & could see profit taking. #stimulus


5/8

This 👆🏼 could be positive for #Gold. Comparing $GLD (gold price) #ETF with $GDX (#Goldminers), one can see that miners getting close to gold ($/oz). Relative not cheap yet & can still see further weakness. Will do separate tech tweet on GDX later. In short wait for $32.20.
FINANCE
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Corry Wang
Corry Wang
@corry_wang
1/ Thoughts on the Myth of the "First Mover"

This thread by @danrose stirred something I've been thinking about for a while - the myth of first mover advantage

To this day, most people assume Amazon Web Services was the first cloud computing service. This isn't quite true


2/ At its March 2006 launch, AWS was probably the 4th or 5th cloud service run by a Fortune 500 firm

HP launched its Flexible Computing Service in Nov 2005
Sun Grid went into beta in 2004
IBM launched "Linux Virtual Services" in 2002!

But AWS is the only one anybody remembers

3/ I'll focus on IBM here -

From the WSJ in *2002*: "Linux Virtual Services allows customers to run their own software on mainframes in IBM data centers and pay rates based largely on the amount of computing power they use"

https://t.co/mnKH8dF6IL

Sounds like the cloud to me!

4/ Origin stories of AWS often cite how Bezo's uncanny prediction of computing becoming a utility, like an electric grid

But Bezos didn't invent this analogy - it was widespread by the early 2000s. Here's Lou Gerstner saying the same thing in 2003


5/ So why did AWS succeed while IBM did not?

IMO there are no good explanations online. IBM LVS was quietly shut down in 2005-06. The exact date is unclear

Answering this became a personal project for me at Bernstein. I ended up cold-calling multiple former IBM product managers
FINANCE
Connecting the Dots\u26a1\U0001f697\U0001f30e\U0001f680\U0001f534 to Disruption\u2728\U0001f3c4\u200d\u2640\ufe0f\U0001f31f
Connecting the Dots⚡🚗🌎...
@ConnectingODots
https://t.co/nWSFLFFnte

2/ Regarding A. I'm long $TSLA, believe it isn't a bubble and the naysayers are shortsighted and wrong.

Only time will tell about A, but B we already know - $TSLA joined at an ATH of $695 then fell - but it's now at $763, so it ADDED value, not detracted.

BUT..

3/ But the question of whether $TSLA brings risk to the S&P is WRONG by itself. The whole idea of an INDEX FUND like S&P500 is to be passive, and it's THE ACTIVE MANAGER DECISIONS that introduce risk

Being profitable and large TSLA should have been added ON Q2 EARNINGS.
..

4/ Before we analyze implications, consider this:

DataTrek Research estimates that if on Jan 1 2020 an investor had put $5 of every $100 invested in an S&P 500 ETF into $TSLA, their return by Dec 11 2020 would've increased by roughly 31%!
(more by

5/ But that's hypothetical bc $TSLA didn't qualify for S&P at Jan 2020, and 5% is more than its share today.

Tesla DID qualify on Q2 earnings but was admitted after Q3. Comparing 12/21 price ($695) to 9/21 price ($449) is wrong bc by 9/21 price fell after news of not including.
FINANCE