bhupy

54 ms·

421.
by bhupy 6y ago
But why wouldn't they instead borrow USD? Interest rates are the lowest they've ever been. In other words, if you're really savvy, you can earn even more than "much more than that" by borrowing USD at low interest
422.
by bhupy 6y ago
While true, mining seems more analogous to high frequency trading where the most profitable mining operations seek to eke out every single advantage they possibly can in the unit economics to maximize profit. If energy is an input and money
423.
by bhupy 6y ago
I'm trying to wrap my head around it and I have a genuine question: I see on these DeFi platforms coins that have APY's well in excess of 10%. Who's borrowing at these rates, and why?
424.
by bhupy 6y ago
> The difference is that you have a level of guarantees that it is going to clear - at least in the UK, the second I make a payment I get a notification and the debit is posted onto my account in real time. If someone sends me money I re
425.
by bhupy 6y ago
I think everything you said is correct about Bitcoin, but is that true of cryptocurrency in general? I think Bitcoin, which has its obvious flaws, is sort of the de facto flag-bearer of crypto, and more of a harbinger of things to come. I&#
426.
by bhupy 6y ago
I'll try, even though I'm also still wrapping my head around it. > It's a bad currency because it is slow to exchange and costs lots of money to exchange - I can't use it to buy my coffee in the morning. I'd say
427.
by bhupy 6y ago
> It really only ever makes sense to sell if doing so will positively change your lifestyle, or you have no alternative. Hmm, but what about opportunity cost? I think the challenge is that it's impossible to know a priori what the &
428.
by bhupy 6y ago
I'm still forming an opinion on cryptocurrency. You mention that decentralization is a very important step that we should try to take as a society. If that's the case, then why isn't Bitcoin (or PeerCoin etc etc) a step fun
429.
by bhupy 6y ago
I'm no crypto bull, but I don't think it's obvious at all that Bitcoin (or other crypto) is "literally worthless".
430.
by bhupy 6y ago
> So Republicans can change the agreed upon rules (norms), lie about it, and then change the rules again, to get what they want while they're in power, but when the Democrats are in power, they have to play by the Republican's
431.
by bhupy 6y ago
How is an elected official choosing not fill one of N vacancies while they're in power (mind you, they won the following election) remotely comparable to just changing the value of N because you were unhappy with how elected officials
432.
by bhupy 6y ago
Nice to know I’m not the only one :). > worked at AWS 2008-2014 and have a specific perspective on why I think you're right Would you be able to talk about this? I’m curious.
433.
by bhupy 6y ago
Correct, you're not actually refuting anything I said. It's much more difficult to do diligence on a private firm than it is a public firm (due to SEC requirements). That's my entire point. In the "what if Theranos was a
434.
by bhupy 6y ago
> If Theranos had done a SPAC, retail investors would've lost a lot of money when it was discovered as a fraud and shorted. You don't know that for sure. Betsy DeVos and Rupert Murdoch lost their millions precisely because ther
435.
by bhupy 6y ago
Yeah I think the angst against short-selling is misguided. It serves a very important function in market price discovery.
436.
by bhupy 6y ago
A meta-point: I see this as the single best outcome of the SPAC craze. By taking private companies public sooner, rather than later, we provide an incentive for short sellers to find mal-practice which is otherwise difficult to surmise amon
437.
by bhupy 6y ago
It appears they've already lost -> https://techcrunch.com/2021/02/03/ca-supreme-court-denies-la...
438.
by bhupy 6y ago
I promise you I do not work for Amazon, nor have I ever worked for Amazon, nor am I in any way affiliated with Amazon — though it does say a lot about our discourse that one might think that the only way to have a charitable view of Amazon
439.
by bhupy 6y ago
> And I don't buy the "they're not in control of whether or not externalities are priced in", they have immense lobbying power to de facto subvert democracy and overpower the will of the people. They can kill or stall
440.
by bhupy 6y ago
First of all, I'm not sure it's obvious that burn out / injury is the norm instead of the exception — though happy to shown otherwise if you have any links. We hear about the worst cases because that's what's report
441.
by bhupy 6y ago
Sure, I was just listing one of the many benefits they enjoy. You can view the exhaustive list here -> https://www.aboutamazon.com/workplace/employee-benefits . It includes paid leave for up to 20 weeks, with up to 6
442.
by bhupy 6y ago
No, it's way more than that. 10 years ago, I worked at a fairly well known tech company with 500+ employees. 1. We had an in house production engineering team, manage our own BGP and PoP points. 2. As we started to scale, we required a
443.
by bhupy 6y ago
> I think it's you that is lacking nuance, no offence. I think you might be misreading my comment to suggest that Amazon is unambiguously good. Read it again, I'm trying to argue that it's not unambiguously bad, and that w
444.
by bhupy 6y ago
> You're eulogising a system that doesn't deserve eulogies. Nobody is eulogizing anything. The system isn't dead, it's alive and well. What I, personally, am doing is simply appealing to nuance. > Workers pass out
445.
by bhupy 6y ago
Warehouse and distribution workers that are paid $15/hr at a minimum, enjoy the same group health insurance benefits as their software engineering and product management coworkers, and enjoy the same 401k matching as their desk-bound c
446.
by bhupy 6y ago
Well, COVID showed us that it's not just that stuff gets to your house in 2 days (rather than 3!), stuff gets to your house in 2 days even during worldwide pandemic with widespread supply chain disruption. Also, starting an online busi
447.
by bhupy 6y ago
My startup runs and operates on AWS, and we were able to get off the ground with a tiny little team within days — something that would have once taken a large team of engineers and business development folks weeks or months. I like to joke
448.
by bhupy 6y ago
Obviously Amazon employees would be bought in. It was people on the outside that laughed at him: https://twitter.com/jimpethokoukis/status/123124591376463872...
449.
by bhupy 6y ago
They produce the same value as a Sears warehouse worker, or a Circuit City warehouse worker. The reason that Amazon is successful, but Sears and Circuit City aren’t isn’t because of the warehouse workers.
450.
by bhupy 6y ago
I'd argue that this is a feature, and not a bug. It gives the lower-income worker leverage to walk away from a bad job without fear of starvation.

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