BC BUSINESS
Saved by @Mollyycolllinss

The interview with CNBC of @chamath is a much watch because there is so much insight hidden underneath.

There are many things that caught my attention. The one thing was the abstraction that hedge fund strategies are all 'momentum' plays. What it seems to imply is that the marshaling of resources at an opportune time drives the future behavior of a stock.
From basic physics, we know that momentum is mass times velocity. So any 'momentum' tactic employs the variation of mass, velocity or both. Wrt stocks, mass is money and velocity is speed of trade.
We cannot argue that there are benefits of scale associated with having more money. Also, high-frequency trading has shown the value of high-speed trading. So in an abstract sense, market manipulation can involve a kind of momentum play.
The objective of stock trading is to buy a financial instrument at a low price and sell it at a higher price. The purpose of a momentum play is to front-run the decision process of other traders such that one acquires the assets before a decision is made.
There are two basic tactics at play here. One is to act faster than other participants. The second is to ensure that one's action sets up the future lucrative scenario where one can consummate one's trade.
It is necessary to find that greater fool. In the case of shorting a stock into bankruptcy, finding the greater fool is taken out of the equation. A company that declares bankruptcy unilaterally wipes out the worth of its stocks. Stock owners have no choice in the matter.
This is what hedge funds that short attempt to do. Of course, the problem with shorting is that it is the opposite of exchanging money to own an asset A short is instead a commitment to buy back stock at a later time. A short, requires assets in a margin account as collateral.
But shorting is like pushing against a string. It's different from going long that is like pulling a string. Someone with infinite cash can buy up all the stock that is available, hence pushing its price up until the limit where you've bought all the stock.
As the GME debacle shows, apparently you can short over 100% of the stocks available. This isn't really possible. What is happening is that the hedge fund is making a commitment to buy over 100% of outstanding stock. This works if the company goes bankrupt.
What happens then if the trade goes in the wrong direction. The loses has no limits. It is the scenario where a hedge fund is obligated to acquire all the stock (and more) of the company. The limit is when the hedge fund runs out of money.
But what happens to the short commitments when the hedge funds runs out of money?
The commitments can only be closed by covering (i.e. buying) back the shares, but this is impossible! You cannot buy more than 100% of something. So how did a hedge fund close its position without impacting the market?
They paid someone to take on their previous commitments. In other words, someone else is short.
The thing about markets is that there are many kinds of commitments (that we call derivatives) that allow one to make money in any way that the market moves. You can make money even if the market does not move!
Money is made in wall street by having a crystal ball or being able to manipulate the behavior of the market so it leads to your expectations. Like every game, manipulation is a kind of deceptive strategy.
Games like Go and Chess don't have deception as a component. That is because all information is transparent and available for both players. In contrast, game-like Poker and Stratego have an element of deception. Deception is necessary in games that have info that is private.
@chamath in the interview reveals the true source of unfairness in the markets. The reality that hedge funds are colluding in their plans to manipulate the markets. This can be fixed if we take his suggestion. That is, the positions of hedge funds are made public for inspection.
The curious thing is that decentralized finance (see: cryptocurrencies) have transparency. Anyone can mine the blockchains to see the various commitments that are being made.
A problem that gold bugs have always complained about the commodity markets is that fictitious supplies of gold are sold in the market and are only resolved to reality at the closing of the contracts.
We saw this in 2020 where people bought oil contracts and upon the closing of the contract (i.e. the delivery) found out that they didn't have the storage to acquire the supply. There was a mad rush to pay people to acquire oil (hence negative price).
With cryptocurrencies, you can't sell a coin that you don't have. The other fascinating thing about cryptocurrencies is that new supply is created all the time due to mining. For Bitcoin and Ethereum there is constant 24x7 inflationary pressure. This leads to its robustness.
Decentralized finance has the robust characteristic that the rules are difficult to game. Now we see hedge funds short $GME make a Trumpian play. That is to stop the count! They are going on TV to make the case that regulators step in and call the game in their favor.
If you can't win the game, you can at least try to rig the referees! As people like Trump has shown, the rich have always played this game of favoritism where their rules are different from the rules everyone else plays.
Completed here: https://t.co/UIywmt4evY

More from Carlos E. Perez

Carlos E. Perez
Carlos E. Perez
@IntuitMachine
I suspect that Emergentism and Enactivism have very little appeal in a world dominated by Reductionists.

To get funding one must present a reductionist idea. A perfect example of this is the European Blue Brain project.

I also suspect that pitches that show how one can get a competitive advantage over the rest of humanity has a much greater appeal than pitches that show how one can that has a unified view of humanity.

My book 'The Deep Learning Playbook' out sold my other book 'Artificial Intuition' by a metric mile. I am however more proud of the latter book.

That's because the word 'playbook' conveys a thing that once possessed gives one new power. In contrast, the word 'intuition' does not feel like a think but more of a process (a thought process). Processes don't appear like things that can be owned.
GOVERNMENT
Carlos E. Perez
Carlos E. Perez
@IntuitMachine
The Nature versus Nurture is a debate about scientific doctrine. It is a debate about the correct way of explanation for cognition.

The Representation versus Non-Representation shares the same debate. It is also about the correct way of explanation for cognition.

It is also the difference between thinking in nouns versus thinking in verbs. Nature and Representation have deep roots in Western thinking. It is a functionalist and reductionist way of thinking that meets its limits when analyzing complex adaptive systems.

It is perhaps due to this Western bias that concepts from the study of complex systems have had little traction in modern society. It is of course, more than a Western bias, but a human bias to seek out simple causal explanations of this world.

But the world is complex and messy. Spiral dynamics which is an evolutionary model of individuals and society explains how models of the world shape ourselves and our civilization.
SCIENCE
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Carlos E. Perez
Carlos E. Perez
@IntuitMachine
Interesting to realize that the living things that lay the foundation of the biosphere are extremely robust as compared to the humans that are destroying the biosphere.

Seed can remain dry and dormant for ages only to reborn when provided the proper nutrients. In contrast, most animals require a continual living vessel to reconstruct itself from its DNA.

Evolution appears to constantly perform tradeoffs between robust organisms and organisms that are adaptable. Co-evolution makes possible the development of complex species as a consequence of robust organisms.

We exist as a consequence of the multitude of less complex individuals that make up our biosphere. We are in fact symbionts that are in constant cooperation with our microbiome. Absent our individual ecologies leads to death.

We are inseparable from our microbiome, we are inseparable from our societies, and we are inseparable from our biosphere. The biggest lie we are told is that as individuals, we are independent of our world.
WORLD
Carlos E. Perez
Carlos E. Perez
@IntuitMachine
I woke up realizing that there is something very wrong with thinking in categories and classifications. Many people accept the idea that this kind of thinking is at the core of abstract thought.

Douglas Hofstadter argues otherwise in a very thick (not dumb in the Brit sense) book of his ('Surface and Essences') where he argues that analogy is at the core of thinking. You'll have to read his book, specifically the last chapter to understand what he means.

The problem with categories is that they create artificial boundaries that are too crisp. But we know that when we master any subject that there is a distinct fluidity between concepts. The master seems wrong from a by-the-book novice because he keeps on breaking definitions.

Analogy making employs the tacit knowledge gained through experience to adroitly navigate between similar and competing concepts. A master has an intuitive feel of the vocabulary he employs to create expressions that have previously never been heard.

Biological brains feel their way through their realities. Something feels like red because our interactions with that thing feels the same as if it was red. We do not see the color red, we feel the color red. There is no red in this picture:
LIFE
Carlos E. Perez
Carlos E. Perez
@IntuitMachine
A children's book written in 1954 inspired by Wiener's Cybernetics that explains some common day analog systems:

Analog computation originally meant the construction of a simulation of another system by means of a mechanical or electrical system that represented the same dynamics as the physical system. That is an analog of what's being simulated.

Nobert Wiener generalized this idea in Cybernetics to describe control systems that through negative feedback promoted stability.

W.Ross Ashby argued that negative feedback was insufficient for maintaining the stability (homeostasis) of complex system. Ashby proposed the Law of Requisite Variety.

These machines that 'seem to think' are examples of what was known as analog computation. Cybernetics, control theory, biology are examples of analog computation. But what does this mean other than being the opposite of discrete/digital computation?
BOOK

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Robert Sasu
Robert Sasu
@SasuRobert
Thanks to the growing number of people who @getMaiar & engage with the @ElrondNetwork ecosystem, the number of accounts doubled to over 320k & we’re over 2.5M TXs, an unprecedented adoption level for a 6 months-young mainnet.
#hypergrowth100 Day 40
Weekly #elrondtech ⬇️


1/ The Delegation Manager toolset has been released for testnet integrations, ahead of our imminent mainnet upgrade. It enables staking providers to set up & manage staking pools, nodes, fees & other parameters for their

2/ We updated the libp2p libraries to the latest release & found out that they work seamlessly with their old counterparts. Congrats @libp2p team for the effort put in backward compatibility. We know how complex that is.

3/ Redesigned the async call & token transfer syntax in our Arwen WASM VM. Interactions between contracts are now “return types”, which makes execution flow more intuitive. Callbacks have also been

4/ Arwen WASM VM updates continued:
- Integrated new Arwen and new features of Arwen into elrond-go. Added a set of integration tests for different scenarios.
- Fixed a bug in Arwen VM which did not let one contract to deploy multiple contracts.
BUSINESS
Kostas on FIRE \U0001f525
Kostas on FIRE 🔥...
@itsKostasOnFIRE
The Mother of All Squeezes

How Volkswagen went from being on the brink of bankruptcy to the most valuable company in the world in two days

/THREAD/


1/ At the peak of the 2008 financial crisis, Volkswagen was considered a very likely candidate for bankruptcy.

Heavily indebted and already financially struggling before 2008, with car sales expected to plummet due to the ongoing global crisis.


2/ With GM and Chrysler filing for bankruptcy in 2009, shorting the VW stock would seem a safe bet.

If you are not familiar with stock shorts and short squeezes check my thread


3/ On October 26, 2008, Porsche announced it had increased its stake at VW from 30% to 74%.

This was a surprise to many who were led to believe that Porsche wasn't planning a takeover of VW, based on the company's announcements.


4/ Before the announcement, the short interest was approximately 13% of the outstanding shares, a number considered relatively low.

Porsche had a 30% stake, the Lower Saxony government fund held 20% of the shares, and another 5% was held by index funds.
BUSINESS
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James Clear
James Clear
@JamesClear
My top 10 tweets of the year

A thread 👇

https://t.co/xj4js6shhy


https://t.co/b81zoW6u1d


https://t.co/1147it02zs


https://t.co/A7XCU5fC2m
BUSINESS , ALL
Irina Dumitrescu
Irina Dumitrescu
@irinibus
I just keep being surprised by how many people expect all business to run as usual despite the fact that we're into year two of a worldwide pandemic.

Like.... anyone notice how many people's jobs got a ton harder? Or how many people lost their jobs, or the prospect of even being in the running for employment?

Anyone notice how many people now have massively heavier care responsibilities -- for children, parents, elderly relatives and friends, you name it?

Anyone notice the massive, unceasing level of stress that comes from mixed messages coming from govts, bungled safety policies and vaccination plans, endless lockdowns?

Every now and then I see someone miffed that some inessential thing hasn't gone as quickly or as efficiently as they'd have like, and I have to wonder -- are we living on the same planet?
BUSINESS
Randall Hunt
Randall Hunt
@jrhunt
General Warning: don’t work for or hire @IanMmmm - he’s a zero-integrity-self-serving manipulator. He destroyed an entire org at AWS.

He’s the reason I left @awscloud. He’s not just incompetent, he’s dishonest in the extreme. You’re throwing away your career working with him.

Also, pro-tip: record every call you have with a manager that you suspect is lying to you.

Here's what happened: I lost my shit when I didn't get promoted, because I was a child. That's on me. I had worked my ass off for 3 years and Ian said that if I moved to Seattle and signed a non-compete then I would get my promotion. I did those things - I didn't get promoted.

What does losing my shit mean? I sent a message to Ian and others that said "Fuck you, I'm not moving to the depressive hell hole that is Seattle. I'm not signing a non-compete. I'm going to stop working 100 hours a week for a company that doesn't give a shit about me."

Later, I found out that Ian had never actually reached out to anyone about my promo document. He just lied. He just ignored it until the last second because he was too focused on taking credit for my work for his own promo document. He got promoted.
BUSINESS

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அஸ்தினாபுரத்து அரசி👸...
@SivaRoobini555
#தினம்_ஒரு_திருவாசகம்
தொல்லை இரும்பிறவிச் சூழும் தளை நீக்கி
அல்லல் அறுத்து ஆனந்தம் ஆக்கியதே – எல்லை
மருவா நெறியளிக்கும் வாதவூர் எங்கோன்
திருவாசகம் என்னும் தேன்

பொருள்:
1.எப்போது ஆரம்பித்தது என அறியப்படமுடியாத தொலை காலமாக (தொல்லை)

2. இருந்து வரும் (இரும்)


3.பிறவிப் பயணத்திலே ஆழ்த்துகின்ற (பிறவி சூழும்)

4.அறியாமையாகிய இடரை (தளை)

5.அகற்றி (நீக்கி),

6.அதன் விளைவால் சுகதுக்கமெனும் துயரங்கள் விலக (அல்லல் அறுத்து),

7.முழுநிறைவாய்த் தன்னுளே இறைவனை உணர்த்துவதே (ஆனந்த மாக்கியதே),

8.பிறந்து இறக்கும் காலவெளிகளில் (எல்லை)

9.பிணைக்காமல் (மருவா)

10.காக்கும் மெய்யறிவினைத் தருகின்ற (நெறியளிக்கும்),

11.என் தலைவனான மாணிக்க வாசகரின் (வாதவூரெங்கோன்)

12.திருவாசகம் எனும் தேன் (திருவா சகமென்னுந் தேன்)

முதல்வரி: பிறவி என்பது முன்வினை விதையால் முளைப்பதோர் பெருமரம். அந்த ‘முன்வினை’ எங்கு ஆரம்பித்தது எனச் சொல்ல இயலாது. ஆனால் ‘அறியாமை’ ஒன்றே ஆசைக்கும்,, அச்சத்துக்கும் காரணம் என்பதால், அவையே வினைகளை விளைவிப்பன என்பதால், தொடர்ந்து வரும் பிறவிகளுக்கு, ‘அறியாமையே’ காரணம்

அறியாமைக்கு ஆரம்பம் கிடையாது. நமக்கு ஒரு பொருளைப் பற்றிய அறிவு எப்போதிருந்து இல்லை? அதைச் சொல்ல முடியாது. அதனாலேதான் முதலடியில், ஆரம்பமில்லாத அஞ்ஞானத்தை பிறவிகளுக்குக் காரணமாகச் சொல்லியது. ஆனால் அறியாமை, அறிவின் எழுச்சியால், அப்போதே முடிந்து விடும்.
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Daddy Files
Daddy Files
@DaddyFiles
This is my son, Sam. He’s 5. And today he learned how shitty and harmful #ToxicMasculinity is. My rage meter is spiking right now so excuse me if this is a little raw but there are some things I want to say about BS #gender norms (a thread)


Sam is my middle child & he’s a terror. A “boy’s boy” as so many (not me) would say. He’s rough and tumble, he’s loud, he’s always dirty, loves trucks, plays sports and knee drops me from the couch. But he also loves a lot of “girl” things.

Sam has a collection of purses because he likes to carry things around. And he also loves to have his nails painted bright colors because he thinks they “look beautiful.” And he’s right – they are beautiful…


So he proudly wore his red nail polish to kindergarten this morning because Sam has absolutely no concept of nail polish only being for girls or reason to think anyone would possibly have a problem with beautiful nails.


But his classmates did have a problem. A big one. Sam was ridiculed for being a boy with nail polish. They called him names and told him to take it off. This lasted the entire day.
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Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193
Billy Bostickson 🏴👁&👁 ...
@BillyBostickson
Keep dwelling on this:
Further Examination of the Motif near PRRA Reveals Close Structural Similarity to the SEB Superantigen as well as Sequence Similarities to Neurotoxins and a Viral SAg.

The insertion PRRA together with 7 sequentially preceding residues & succeeding R685 (conserved in β-CoVs) form a motif, Y674QTQTNSPRRAR685, homologous to those of neurotoxins from Ophiophagus (cobra) and Bungarus genera, as well as neurotoxin-like regions from three RABV strains

(20) (Fig. 2D). We further noticed that the same segment bears close similarity to the HIV-1 glycoprotein gp120 SAg motif F164 to V174.
https://t.co/EwwJOSa8RK


In (B), the segment S680PPRAR685 including the PRRA insert and highly conserved cleavage site *R685* is shown in van der Waals representation (black labels) and nearby CDR residues of the TCRVβ domain are labeled in blue/white
https://t.co/BsY8BAIzDa


Sequence Identity %
https://t.co/BsY8BAIzDa
Y674 - QTQTNSPRRA - R685
Similar to neurotoxins from Ophiophagus (cobra) & Bungarus genera & neurotoxin-like regions from three RABV strains
T678 - NSPRRA- R685
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Jaya_Upadhyaya
Jaya_Upadhyaya
@Jayalko1
DEVI KARUMARIAMMAN, THIRUVERKADU (TN)

Devi is worshipped here as both Swayambhu (self-manifested) and as Parashakti (with 4 arms holding skull,sword,trishul,udukkai/damru).

Here, Muruga got Vel from Devi to fight Suran. So the place was called Vel kadu which became Verkadu.


It is said that there was an anthill here long ago. Devi appeared in the dream of a devotee and asked him to build a shrine at that spot. When the anthill was removed, the swayambhu murti of Devi emerged. So Devi is called Karuvil Illadha Karumari ( not in the womb of mother).


Once, Devi went to Surya in the form of an old woman but Surya neglected her. Devi’s anger made Surya lose his brightness.
To appease her, Surya said that His rays would fall on Her directly twice in a year and touch her feet. Also, Sunday is celebrated as day of Devi Karumari.


There is also a wooden image of Devi (Marachilai Amman) here. Devotees offer locks to her in the belief that She would safe guard their houses.
Temple tank (Thiruchamber Poigai) is said to have been created by Subramanya. Taking dip in it is said to cure skin related disorders.
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Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
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.
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