When the upcycle in a sector is very strong
Poorly managed companies also make returns

2021 steel cycle-
SAIL went up from 30 to 120

Now in the current credit upcycle:-
PSU Banks are making money!

But does this mean credit culture has changed for PSU Banks?
No evidence of that

1/ Thread: "A Silicon Valley Ponzi Scheme"

Thanks to @chamath for laying this out in Social Capital's 2018 annual letter.

I've always appreciated his outspokenness.

2/ The hardest thing for most startups today is the path to market: first finding product-market fit & a way to reach customers, then building a ruthless machine to acquire, monetize & retain them.

3/ Because of this, when the VC industry invests capital into fast growing startups today, the plurality (if not majority) of invested capital will go into user acquisition and ad spending, for better or worse— usually worse.

4/ Todays massive venture-backed advertising, sales, and user acquisition playbook has morphed into one that champions growth at any cost.

This is creating a big bill that will soon come due...

5/ Ad impressions and click-throughs are bid up to outrageous prices by startups flush with venture money, and prospective users demand more and more subsidized products to gain their initial attention.

Do you know?

Multiverse is mentioned in several of Hindu Scriptures.

In 1927 came a theory named 'Big Bang' which was a scientific effort to provide some explanation about how our Universe came into existence. It suggested that Universe started as a tiny, hot and dense...

...something that expanded rapidly from the singularity with a big explosion or Big Bang from which formed the galaxies, stars and the rest of the Universe.
However, the science in our Vedas explained these concepts since millennia. Rig Veda mentions Hiranyagarbha and Brahmanda..

...Visphotak which talks about a similar theory.
The concept of Parallel universes may be novel to the modern scientists but it rests very comfortably in ancient Hindu Cosmology. The Puranas are replete with descriptions of many worlds whose inhabitants are ruled by kings in...

...the human plane and Gods in a higher plane. The many Gods in turn belong to many different worlds and planes of existence. At the highest level of hierarchy are the trinity namely Brahma, Vishnu and Mahesha, ruling the divine Kingdoms. Brahma is the creator who dreams...

...the Universe into being, which is maintained by Vishnu. What Humans perceive as reality is in fact the dream of Brahma, misled by matter. Brahman( not to be confused with Brahma) is the ground of all reality & existence. Brahman is uncreated,external, infinite & all-embracing.

PETER PADUKAM - THE LEGEND OF MADURAI MEENAKSHI TEMPLE AND A BRITISH COLLECTOR.

A British Collector named Rous Peter was appointed as Collector of Madurai from 1812 to 1828.

Though a Christian by faith, he respected all faiths including Hinduism and also honored local practice

Collector Peter was the temple administrator of the Meenakshi Amman Temple and conducted all his duties with sincerity and honesty and respected the religious sentiments of all people.

Collector Rous Peter respected and treated people of all faiths equally and this noble trait

earned him the popular nickname ‘Peter Pandian'

Goddess Meenakshi Amman Temple was situated between Collector Peter's residence and office.

Everyday he used to go to the office by his horse and while crossing the temple, he got down from his horse, removed the hat and his shoes

and crossed the whole path on his foot.

Through this small gesture he expressed his reverence to the Goddess!

One day there was a heavy downpour in Madurai city and River Vaigai was in spate.

Collector was sleeping in his residence and was suddenly disturbed and woken up by

the sound of anklets and he left his bed to find out from where the sound had came.

He saw a small girl wearing pattuvastrams (silk garments) and precious ornaments and addressing him as 'Peter come this way'.