UPDATED FOR NEW LINK
Need a "red pill" crash course without the censored links?
https://t.co/pFvn6dlSkI

"The engineers on my team just want to code. They don't want to have anything to do with product. They just want specs. What do I do?"

1/n Are you asking them do to X *and* do their "day job" as defined by their managers (and frankly your roadmap) ?

If so, start there...

2/n Do they have a reason to believe that doing X will in any way improve the quality of the product and make their lives easier? Have they ever seen X "work" ?

Show don't tell.

3/n Is there average day/week a quagmire of unnecessary meetings, wading through tech debt, struggling to get *anything* to work ... and jumping through process hoops to prove their worth?

If so...no they will not have bandwidth.

4/n How do incentives work on the engineering team? Maybe they want to help, but their "grade" is determined by something altogether different.

"I'd love to, but I am on the hook to deliver [some project] this quarter to make a good impression..."

Talk to eng management.

5/n Have they had any time to practice?

Or did they get thrown into the deep end the first time they were given a shot ... expected to brainstorm on demand, be as vocal as practiced PdMs and designers, and "participate" !

Make it safe to practice. Reasonable expectations.

The very first section of Robson's allegations is an example of how when he realizes a certain true part of his story does not support his goals he simple changes it to a lie.

He and Joy repeatedly stated under oath that Target run the 1987 dance contest.

Wade 2005 testimony

Joy 2016 deposition

Wade 2013 Apr declaration

blacked out but it's clearly Target not MJJ Production

Wade 2013 Apr Complaint

Wade June 2013 first amended complaint

THREAD ON IRONFLY

These days the most preferred strategy for option sellers due to improved margins is IRONFLY. It's essentially a short straddle with long strangle. Long strangle acting as 'WINGS', which help in capping the unlimited risk associated with a short straddle.(1/n)

You can also view the position as a combination of Cal & Put credit spreads, if that makes it more easy for you.

There are 3 important things to understand while trading this strategy:

1) Initial size of the Wings
2) Risk Management
3) Adjustments

(2/n)

Since we are selling an ATM straddle, the 1st question is how far our wings should be? Ideally i sell .50 delta straddle & buy .20 or .10 OTM strangle, depending on my view on volatility. So the distance of wings depends on the IV setup. Higher the IVs, greater the distance.(3/n)

If you don't understand greeks, then ideally with 30 days to expiry (dte), wings should be around 300pts either side. If your trading in weekly then it should be not more than 200pts. Higher the premiums, higher the distance as we have more cushion of theta. (4/n)

It is important to understand that we need to reduce the distance of wings with time so as to manage our RISK in gap openings or sudden volatile move. So for eg. if you started with 300pt wings with 30dte, the wings wouldn't give the same protection when there is 7dte. (5/n)

It's a slow, snowy afternoon. How about a 🧵 on "rationalists" & "rationalism"? I want to talk about what real rationalism might look like & what people devoted to rationalism might actually behave like--and how that differs from what you often see from self-styled rationalists.

Caveat up front: this is not about Slate Star Codex, which I haven't read regularly enough to have an opinion on, or about the recent controversy between SSC & the NYT. I'm more interested in the *idea* of rationalism (vs. the practice).

The core premise of rationalism, as I understand it, is simply that humans' cognitive machinery was not designed by evolution to find truth, but rather to advance the interests & welfare of the collective -- a Venn overlap, but not the same thing. Therefore ...

... reasoning well, both individually & as groups, requires special effort. It requires consciously trying to set aside the parochialism, biases, & other distortions that typically characterize our thinking -- resisting, to some extent, the dynamics of group membership/welfare.

That's all fine. I agree entirely that we should make special effort to reason well & to guard against the typical failures of reasoning to which we humans are prone. I believe it's the best (maybe only) way forward as a species. So far so good.

Morning. The #TexasFreeze continues & grid operator ERCOT is still reporting >31,000 MW of thermal generation capacity out as of 9AM CT. Down slightly from a peak of 34,000 MW reported yesterday afternoon (https://t.co/jNMR4ibyY0) but still >40% of thermal capacity in state!

Wind power is currently producing about 4,000 MW, or 2/3 of the ~6,000 MW that ERCOT was counting on wind to contribute during winter peaking events. Solar is coming online now and helping during daytime, exceeding the <300 MW it is counted on for in system planning.

Main story continues to be the failure of thermal power plants -- natural gas, coal, and nuclear plants -- which ERCOT counts on to be there when needed. They've failed. Of about 70,000 MW of thermal plants in ERCOT, ~25-30,000 MW have been out since Sunday night. Huge problem.

ERCOT started directing electric utilities (like Oncor or Austin Electic) to start rolling blackouts or involuntary emergency load shedding at 1:25am on Monday morning, with 10,500 MW shed during that late morning. That's ~2 million homes worth of load

Throughout Monday, many thermal power plants remained offline, as freeze-offs + fuel shortages in gas pipelines forced large numbers of natural gas plants offline. Many coal plants likely struggled as well w/frozen coal piles, but breakdown of thermal outages by fuel type unclear