Torn between "I think losing $100 million when someone beats you at security research is pretty much exactly what you signed up for doing yield farming" and "Maaaaaaaybe not the future of finance you were expecting, huh."
Suppose hypothetically you have an account at a brokerage with some valuable asset in it. You take a margin loan against that asset to fund your normal spending, or pay a tax bill, or maybe buy something at another brokerage.
And you think "Hmm, I have a large equity cushion against this loan."
Which I don't; I just feel like this is why you don't trust a CPU built out of redstone to build reliable financial infrastructure on top of.
Ill-timed liquidations can and do, but attacking someone doing something not-risky to force a liquidation is harder, because of many built in safeguards.
Two, if you regulated financial institution has a goof in your data feeds causes you to mechanically disadvantage retail...
This is not the consensus viewpoint among engineers, who do not have good calibration.
For the treasury auction? Oh heck yes I do. Expect a turf war between the money people and the terrorism people over who gets to lead the investigation.)
The financial system is in part of broader systems of state control. Seriously attacking it at scale would be treated indistinguishably from "kinetic" war.
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I love the aesthetics of this category and they’re under remarked upon.
I think people underestimate QSRs in terms of social utility, but Sukiya et al describe themselves as mission-oriented enterprises. I believe this is largely sincere, and goes back to the 60s and 70s, when the clientele was primarily manual laborers who had migrated to work.
Japan was not a rich nation at the time, and day laborers in particular were both unlikely to be able to cook for themselves and unlikely to have much of a food budget, and so the chains sprung up offering an honest-to-goodness cooked meal delivered in under a minute for cheap.
This heritage continued over the years, even after Japan became a much more wealthy nation, and these chains function as social support and dignity for folks in diminished circumstances.
They also are a wee bit of a cartel, and I appreciate the aesthetics of the cartel:
Back when I was first in Japan, in the mid 2000s, there was an increase in the price of beef.
And the heads of the three chains got together, and decided that the price of the basic beef bowl needed to increase, but given the economic circumstances how could they hold the line.
On a serious note, it's interesting to observe that you can build a decent business charging $20 - $50 per month for something that any good developer can set up. This is one of those micro-saas sweet spots between "easy for me to build" and "tedious for others to build"— Jon Yongfook (@yongfook) September 5, 2019
Every year at MicroConf I get surprised-not-surprised by the number of people I meet who are running "Does one thing reasonably well, ranks well for it, pulls down a full-time dev salary" out of a fun side project which obviates a frequent 1~5 engineer-day sprint horizontally.
"Who is the prototypical client here?"
A consulting shop delivering a $X00k engagement for an internal system, a SaaS company doing something custom for a large client or internally facing or deeply non-core to their business, etc.
(I feel like many of these businesses are good answers to the "how would you monetize OSS to make it sustainable?" fashion, since they often wrap a core OSS offering in the assorted infrastructure which makes it easily consumable.)
"But don't the customers get subscription fatigue?"
I think subscription fatigue is far more reported by people who are embarrassed to charge money for software than it is experienced by for-profit businesses, who don't seem to have gotten pay-biweekly-for-services fatigue.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.— Greg Wester (@gwestr) November 25, 2018
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.
For technical founders it is irrationally, obscenely hard to reverse years of programming (ba dum bum) that sales is a value-destroying activity. Sales is CLEARLY a value-creating activity, contingent on you have a value-creating product.
The world will not drop what they are doing to adopt your work. This is particularly true in B2B, where simply building a better mousetrap won't overcome the activation energy required to get people with additional non-mice problems to prioritize changing mousetraps today.
This is very non-obvious for founders because founders are not often people who *want* to be sold to. We often come from a background where trying out tools is a bit of a fun hobby. We like looking at all the options, making charts, and ripping out partially complete tests.
"This week I unsuccessfully trialed four software options for automating that thing that has been killing us. Our actual production process remains the same as last week. Don't worry; this was a great use of time." is not a thing you want to write in a progress report to manager.
APIs add new things to the toolbox. For example: Treasury, which lets an app/platform store, move, and track a business’
I've been a small business owner and can talk at length about SMB banking, and will later, but let's put on the software developer hat right now.
Lots of software talks about money, keeps records about money, does calculations about money, but can't *touch* money.
This is extremely frustrating when you're building SaaS apps for businesses, because you have total control over your UX right until your app needs to touch money... at which point all data about it lives in a silo you can't access.
So you generally push work to the operator.
For example, suppose you’re writing a business-in-a-box system for electricians, including an invoicing feature.
You need to be able to read bank transactions to reconcile. You probably can't. The owner can. So you ask the owner to do mind-numbing work a computer does better.
It sure would be great if your business customers had bank accounts you could actually introspect and operate on their behalves! You could just get the list of incoming payments and match against the invoices.
There is some software to write but it is not rocket science.
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“Why do people care about stablecoins then?”
A mix of “they encourage dollar-denominated liquidity in the cryptocurrency ecosystem and discourage withdrawal of the same” and “they’re good for money laundering.”
“But they make value transfer between exchanges much faster!”
This was a solved problem in traditional finance, too, mostly through the extension of credit. (It doesn’t matter how long settlement takes if there is sufficient trust to enable credit.)
The Bitcoin ecosystem is *positively allergic* to credit, so you have to call it a coin for them to accept it. And after you call it a coin they ignore everything the world has learned about credit, like risk management.
“Stablecoins aren’t credit!”
They’re pretty much exactly credit? A tether is a zero-coupon Bitfinex bond with a non-functioning call option. I
So after my marketing agency closed I started freelancing again. A marketing company that wanted to work with me only hires freelance writers through @Upwork. So I signed up. I wasn't thrilled about it, but that's who they contract with and it's their marketing company.
I've been receiving regular assignments from this company, thru @Upwork, for over a month now. I've written dozens of articles for them. My work has been exemplary. I've been handling repeated rush jobs and delivering. The client was and is very happy. That's coming from them.
While I was wrapping up several assignments this week I was contacted by the marketing company. They asked if I had taken a new full-time job and wasn't available anymore. It seems @Upwork's talent group told them I was no longer available to take assignments.
I was very surprised. Nothing had changed on my end. I still needed the freelance work very much. I told them so. So the marketing company pressed @Upwork and were told there were "compliance" issues that were preventing the marketing company from giving me any more work.
Yahoo, who bought Tumblr years ago, used to have a huge adult presence on the early net. They allowed adult groups and what not.
However, people and bots (just like now) misused the service, and Yahoo were forced to make a choice. They made private the groups (and later closed them down and sold some of it to other companies) and then ended their chatrooms on yahoo messenger...
after a incident with one of the chatrooms vid cams. The damage was done, Yahoo Messenger lost a lot of people - and with the closing of the groups - backpage and Craigslist came more important.
Now backpage is no more and Craigslist is slowly passing away. Tumblr had a semi strong community, but once 2014 came around and both porn, and political bots exploded the quality started to go down,
Twitter accounts with GAN faces, boosting Huawei, boosted by Huawei execs, and attacking Belgium's 5G policies.
Not enough evidence to prove who ran them.
We found this network when it was boosted by Spamouflage, a pro-China operation.
Independently, @mvanhulten of @TI_EU and @ArbiterOfTweets of @Knack found it with different methods.
It's not a friendly environment for fake campaigns,
This was the first account we found.
"Alexandre, PhD", apparently a CEO.
But no surname, no indication of what he's a CEO of, and a GAN-generated profile pic.
Alexandre's had a bit of an obsession with Belgium and #5G recently.
Especially, Belgium's security limitations on 5G providers, which are reportedly mainly about Huawei and ZTE.
Alexandre didn't like the Belgian approach much.
The account was created in 2017. It only started tweeting in early December, 2020, but its first posts were retweets of tweets from November 2017-18.
They were meant to be about VR, as in virtual reality. Oddly, one was actually about Victorian Railways in Australia. Awkward.
Ex. Cargo seems to neither have a concept of devDependencies nor peerDependencies.
I also can't understand why it wouldn't have an "add" command to add a new dependency. And I'm no fan of Toml, json is greate (easy to parse and build tooling around), and the better option in my opinion would be json5.
C / C++ seems to just not have language package managers. The linux / bsd crowd seem to have decided that the system package manager also should be the language package manager. Which might have been fine if every Linux distro used the same system package manager.
Instead we end up with a N x M problem. Where we have a bunch of different operating systems and they all support multiple system package managers. So there's no easy way of distributing, referencing and updating C / C++ packages.
It is also my opinion that the compiler / runtime should be a package dependency. I don't like Rust's split between rustup and cargo (they should have been one tool). Similarly it would be better if you added Node as a dependency to package.json, that way we wouldn't need NVM.
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Today, that person co-hosted a webinar with me that had over 470+ registered and 130+ live
👇 Quick lesson on how to successfully pitch partnerships and co-marketing opportunities
How did he get in contact with me?
He sent a cold email, but not just any email. It was clearly personal, relevant, and conversational.
Lesson: Notice the language he used and how he tied it back to previous webinars.
Not only was it well written, but I could also easily judge if he'd be a good fit based on the article he wrote and linked to.
It's SUPER well-written and proved that he knew what he was talking about.
Lesson: Make your "ask" as easy as possible to consider.
There were three things that made the webinar a big success:
1. Tyler sent the webinar to his email list and did a lot of promotion.
2. He prepared ahead of time and put a lot of work into the deck, even incorporating some Baremetrics assets and references.
3. He had fun
Super appreciate all the work @TylerHakes put into today's "SEO for SaaS"
If you missed it, here's the recording:
Here’s the story of how Malcom McLean made a billion dollars and which startup could be following in his footsteps. (Inspired by our episode with @laurabehrenswu)
In the early 1950s, the shipping industry was a dying business.
New York’s docks were handling half as much domestic cargo in the early 1950s as they had been in the depressed 1930s.
In thirty years, no one had invested significant money in coastal shipping.
As McLean found out, loading ships was difficult and slow.
A truck or train would deliver items to the port. Each item was unloaded separately, recorded, and carried to storage.
When a ship was ready, each item was taken from storage, counted again, and hauled on-board.
The cost of this labor was significant. As one expert at the time explained:
“A four-thousand-mile voyage for a shipment might consume 50 percent of its costs in covering just the two ten-mile movements through two ports.”
Yet, despite the industry’s issues, it felt little pressure to change.
Foreigners were barred from operating domestically. Cartels ran international routes. And gov. subsidies eased the pain of labor costs.
Reshaping the industry needed an outsider.
Enter Malcolm McLean.
a) it rains all year round.
b) we have a lengthy and cold winter.
c) Finland is a sparsely populated country with just over 5mil ppl, with land size ~3/4 of CA and most of it forests and lakes.
d) no friggin body is raking the forests." @mallahadley
. . .
Trump's "assertion that California’s forest management policies are to blame for catastrophic wildfire is dangerously wrong."
Trump's message attacking California is "ill-informed, ill-timed and demeaning to those who are suffering as well as the men and women on the front lines."
"Wildfires are sparked & spread not only in forested areas but in populated areas and open fields fueled by parched vegetation, high winds, low humidity and geography. Moreover, nearly 60 percent of California forests are under federal management ...