5 ms·

Huh? What are their other businesses then? Is this some weird accounting trick?

H8crilA 3y ago
Weird accounting tricks in Russia include "the new nobility" making you offers that you cannot refuse. This is a country in which the FSB (equivalent of the FBI) is running their own protection rackets, even on a small scale of a local shop. Property law works very differently over there, which is to say it doesn't quite exist.
- ssijak 3y ago
  You can refuse, but then your chance of dying by "falling off the balcony" goes up dramatically.
  - brnt 3y ago
    In my circles, the joke is having heart attacks while shooting oneself in the back after falling out of windows.
    - EasyMark 3y ago
      You forgot the polonium pain meds
- MrBuddyCasino 3y ago
  [flagged]
  - deleted 3y ago
    [deleted]
  - H8crilA 3y ago
    Ah yes, just like in Russia we all know someone who was put in the trunk of a car by the FBI and driven around the forest just because they didn't want to pay up to the local director and his network of cronies. Or we all know of a prominent local case of a murderer or rapist that was released from prison (without any legal basis), then went on to fight a war for 6 months, then came back to our city with new military experience, now knowing how to handle rifles, grenades and man portable rocket launchers, and with severe PTSD. /s
    - thriftwy 3y ago
      I am Russian and personally I know nobody with the former or the latter experience. I don't doubt such cases exist somewhere out there. But the prevalence of such revelations is from people re-posting emigrant press, who often do not have any firsthand Russia experience for a few years now.
      - elzbardico 3y ago
        Most Americans knowledge of Russia is based on movies depicting the Yeltsin era during the 90s. For them Moscow is like a giant prohibition era Chicago in a cyberpunk scenario.
        H8crilA 3y ago
        Fast forward to 2020s - the gangs are now reorganized under the Siloviki, the "strong man". Methods have changed from being shot in the street to being defenestrated. Meanwhile the state uses beatings and barrier troops to enforce military discipline at war. It also castrates and starves POWs and performs organized, list-based murder on the territories that it occupies. I could go on and on, but yeah. Russia fundamentally hasn't changed in the past ~few hundred years (since its founding really), unlike countries in Europe. As the world moved forward some things remained unchanged, such as preemptive compliance, learned helplessness, lack of civil society, and the culture of violence, ranks, racism and humiliation.
        skotobaza 3y ago
        > preemptive compliance, learned helplessness, lack of civil society, and the culture of violence, ranks, racism and humiliation First I seriously doubt that other countries moved away from that. Second I don't notice these things as much here (in the capital at least). People see only what they want to see I guess...
        elzbardico 3y ago
        [flagged]
  - elzbardico 3y ago
    The magic is that in the US, things that are illegal in most of the civilized world like lobbying, private campaign donations and PACs are enshrined in the law. Ergo, see momma! no corruption!
- thriftwy 3y ago
  Volozh could stay in Moscow and keep Yandex, though he was not acting CEO for some time. But, he decided he prefers Israel (residing "behind the bump" in general sense). In modern political climate, you have to choose between having your pie and eating it.
  - paganel 3y ago
    It's like Zuckerberg choosing to leave to Singapore and stay there in case a war in Taiwan breaks up, while ideologically aligning with China, of course, I'm not so sure that in that scenario his US-based assets will remain intact.
  - EasyMark 3y ago
    I think it's like a good survival tactic as well. Known by the old saying Бери деньги и беги
r721 3y ago
Yeah, it's some complex deal, which is hard to make sense of. Here's a Bloomberg story: >Yandex Parent Cuts Ties to Russia in $5.2 Billion Unit Sale https://www.bloomberg.com/news/articles/2024-02-05/yandex-parent-cuts-ties-to-russia-in-5-2-billion-unit-sale https://www.bloomberg.com/news/articles/2024-02-05/yandex-pa... And here's FT: >Search engine Yandex to sell Russian operations for $5bn https://www.ft.com/content/1f965442-e3f9-46dc-ae4d-ef2e05740abf https://www.ft.com/content/1f965442-e3f9-46dc-ae4d-ef2e05740...
- mkl 3y ago
  The FT one (https://archive.ph/YiA3q https://archive.ph/YiA3q) says almost nothing. The Bloomberg one (https://archive.ph/AsVYu https://archive.ph/AsVYu) says "The Russian unit represented more than 95% of the Yandex Group’s consolidated revenues in the first nine months of 2023, and approximately 95% of its consolidated assets and employees." Not much left!
splitbrain 3y ago
The article mentions them: Following completion of the sale transaction, YNV will retain a portfolio of international businesses and other non-Russian assets, including four early-stage technology businesses and other assets: * Nebius AI, an AI cloud platform that is one of the largest providers of GPU capacity in Europe; * Toloka AI, a data solutions partner for GenAI and Large Language Model development; * Avride, one of the leading developers of self-driving technologies; * TripleTen, an EdTech service that equips people with in-demand tech skills; * our data center located in Finland; and * minority investments in other technology businesses. From what I understand, this means basically that they are selling search and associated services that are mostly popular in Russia to some Russian consortium. Bringing Yandex under complete Russian control, without influence from western shareholders. Those western shareholders (YNV) get a bunch of money and the above AI related subsidaries located outside of Russia.
- deleted 3y ago
  [deleted]

Weird accounting tricks in Russia include "the new nobility" making you offers that you cannot refuse. This is a country in which the FSB (equivalent of the FBI) is running their own protection rackets, even on a small scale of a local shop. Property law works very differently over there, which is to say it doesn't quite exist.

ssijak 3y ago
You can refuse, but then your chance of dying by "falling off the balcony" goes up dramatically.
- brnt 3y ago
  In my circles, the joke is having heart attacks while shooting oneself in the back after falling out of windows.
  - EasyMark 3y ago
    You forgot the polonium pain meds
MrBuddyCasino 3y ago
[flagged]
- deleted 3y ago
  [deleted]
- H8crilA 3y ago
  Ah yes, just like in Russia we all know someone who was put in the trunk of a car by the FBI and driven around the forest just because they didn't want to pay up to the local director and his network of cronies. Or we all know of a prominent local case of a murderer or rapist that was released from prison (without any legal basis), then went on to fight a war for 6 months, then came back to our city with new military experience, now knowing how to handle rifles, grenades and man portable rocket launchers, and with severe PTSD. /s
  - thriftwy 3y ago
    I am Russian and personally I know nobody with the former or the latter experience. I don't doubt such cases exist somewhere out there. But the prevalence of such revelations is from people re-posting emigrant press, who often do not have any firsthand Russia experience for a few years now.
    - elzbardico 3y ago
      Most Americans knowledge of Russia is based on movies depicting the Yeltsin era during the 90s. For them Moscow is like a giant prohibition era Chicago in a cyberpunk scenario.
      - H8crilA 3y ago
        Fast forward to 2020s - the gangs are now reorganized under the Siloviki, the "strong man". Methods have changed from being shot in the street to being defenestrated. Meanwhile the state uses beatings and barrier troops to enforce military discipline at war. It also castrates and starves POWs and performs organized, list-based murder on the territories that it occupies. I could go on and on, but yeah. Russia fundamentally hasn't changed in the past ~few hundred years (since its founding really), unlike countries in Europe. As the world moved forward some things remained unchanged, such as preemptive compliance, learned helplessness, lack of civil society, and the culture of violence, ranks, racism and humiliation.
        skotobaza 3y ago
        > preemptive compliance, learned helplessness, lack of civil society, and the culture of violence, ranks, racism and humiliation First I seriously doubt that other countries moved away from that. Second I don't notice these things as much here (in the capital at least). People see only what they want to see I guess...
        elzbardico 3y ago
        [flagged]
- elzbardico 3y ago
  The magic is that in the US, things that are illegal in most of the civilized world like lobbying, private campaign donations and PACs are enshrined in the law. Ergo, see momma! no corruption!
thriftwy 3y ago
Volozh could stay in Moscow and keep Yandex, though he was not acting CEO for some time. But, he decided he prefers Israel (residing "behind the bump" in general sense). In modern political climate, you have to choose between having your pie and eating it.
- paganel 3y ago
  It's like Zuckerberg choosing to leave to Singapore and stay there in case a war in Taiwan breaks up, while ideologically aligning with China, of course, I'm not so sure that in that scenario his US-based assets will remain intact.
- EasyMark 3y ago
  I think it's like a good survival tactic as well. Known by the old saying Бери деньги и беги

r721 3y ago

Yeah, it's some complex deal, which is hard to make sense of. Here's a Bloomberg story: >Yandex Parent Cuts Ties to Russia in $5.2 Billion Unit Sale https://www.bloomberg.com/news/articles/2024-02-05/yandex-parent-cuts-ties-to-russia-in-5-2-billion-unit-sale https://www.bloomberg.com/news/articles/2024-02-05/yandex-pa... And here's FT: >Search engine Yandex to sell Russian operations for $5bn https://www.ft.com/content/1f965442-e3f9-46dc-ae4d-ef2e05740abf https://www.ft.com/content/1f965442-e3f9-46dc-ae4d-ef2e05740...

mkl 3y ago
The FT one (https://archive.ph/YiA3q https://archive.ph/YiA3q) says almost nothing. The Bloomberg one (https://archive.ph/AsVYu https://archive.ph/AsVYu) says "The Russian unit represented more than 95% of the Yandex Group’s consolidated revenues in the first nine months of 2023, and approximately 95% of its consolidated assets and employees." Not much left!

splitbrain 3y ago

The article mentions them: Following completion of the sale transaction, YNV will retain a portfolio of international businesses and other non-Russian assets, including four early-stage technology businesses and other assets: * Nebius AI, an AI cloud platform that is one of the largest providers of GPU capacity in Europe; * Toloka AI, a data solutions partner for GenAI and Large Language Model development; * Avride, one of the leading developers of self-driving technologies; * TripleTen, an EdTech service that equips people with in-demand tech skills; * our data center located in Finland; and * minority investments in other technology businesses. From what I understand, this means basically that they are selling search and associated services that are mostly popular in Russia to some Russian consortium. Bringing Yandex under complete Russian control, without influence from western shareholders. Those western shareholders (YNV) get a bunch of money and the above AI related subsidaries located outside of Russia.

deleted 3y ago
[deleted]