jhwang5

10 ms·

31.
by jhwang5 6y ago
No. By then, they'd be accustomed to buying furniture off Amazon /s.
32.
by jhwang5 6y ago
You don't realize that this economy - levered to the hilt - NEEDS the consumer to spend money they don't have to keep it going. If the American consumer started developing financial discipline starting tomorrow, that's incred
33.
by jhwang5 6y ago
But of course you need to package it as an unique, never seen before, game changing solution and write a blog post about it. He’s shilling his startup
34.
by jhwang5 6y ago
Perhaps it's marketing. Observable reality !== reality
35.
by jhwang5 6y ago
Ever considered that a lot of people who become doctors aren't just factoring in financial tradeoffs in career decision? Like, the desire to heal people who are sick?
36.
by jhwang5 6y ago
Or there's a systematic inflation of the cost of delivering healthcare?
37.
by jhwang5 6y ago
Since doctors in other countries sacrifice similar amounts of time to become doctors, what makes US doctors so special? (We all know why)
38.
by jhwang5 6y ago
Big part of the problem is the AMA which sets up all sorts of barriers to entry into the profession
39.
by jhwang5 6y ago
No. whether I charge you a fee through an explicit transaction cost, or I charge you based on a hidden spread to some rate, it’s still revenue from the perspective of banks. It’s a common trick used by consumer banks (to masquerade interest
40.
by jhwang5 6y ago
Because banks borrow short, lend long. This is an exogenous fee generating bonanza for banks. It’s not that much different from someone selling you masks at a steep price. issuing these loans do not cost banks anywhere even close to what th
41.
by jhwang5 6y ago
Yep, this is why you should call BS when tech companies claim to make product decisions based on data or customer feedback. Their north star is revenue and as long as that's trending up (because of the secular trend of creators needing
42.
by jhwang5 6y ago
Bank charging 2% on this flow is criminal, in the sense that interest rates are nearly negative, so 2% is practically 10, 100X the rates banks can earn otherwise. It's basically free money shoveled into banks, a massive boon.
43.
by jhwang5 6y ago
This is the wrong way to think about it. Rates are nearly negative, so 2% is practically 10, 100X the rates banks can earn otherwise. It's basically free money shoveled into banks, a massive boon.
44.
by jhwang5 6y ago
Not to be cynical here but such a marketplace allows buying/selling human capital... i.e. slave market.
45.
by jhwang5 6y ago
Goes to prove again (and again) that product success is weakly correlated with engineering effort / quality
46.
by jhwang5 6y ago
Ex-trader at GS/MS here. PMs in this case are traders, requirements about trading systems come from traders b/c they have to dog-food it. Usually there is no separate PM in the tech world sense at banks, though there are project m
47.
by jhwang5 6y ago
In my experience part employees have more “context switching” to deal with obviously, so it really is case by case whether or not someone’s more efficient as a part timer
48.
by jhwang5 6y ago
As an employer, I can give you some color. 1) Hiring is a pain, and there's ton of friction. 2) Ideally you want to get max efficiency out of roles that serve "business critical" functions. 3) More people on payroll (parttime
49.
by jhwang5 6y ago
Serious question. Are you confounding left-leaning with lack of journalistic integrity, and conservative news outlets as having integrity?
50.
by jhwang5 6y ago
Yeah I get it, but consumers can theoretically fight back by pulling their deposits and going somewhere else. The problem is, all banks are intentionally incompetent, and starting a bank as a startup is hard due to barriers of entry. Wtf ar
51.
by jhwang5 6y ago
I think there's a widespread sentiment in this country where if you get screwed over, it's on you, you should've known better. Everyone just passes the buck. Well guess what, most people entrusted banks to do the right thing,
52.
by jhwang5 6y ago
Just curious, did your friend have pretty severe symptoms? As in, was it worse perceivably than say a case of bad flu?
53.
by jhwang5 6y ago
Not sure why pessimistic views are downvoted. You are just expressing your opinion and providing a reasonable reasoning.
54.
by jhwang5 6y ago
Yep. 1) It's against human nature - in aggregate - to prefer working in solitude at home. WFH may increase, but remote won't anywhere be the "mainstream" 2) No, the position of China in world economy will ironically grow
55.
by jhwang5 6y ago
Why are you glossing over the fact that the numbers were DESPITE having done a global lockdown? If we didn’t do a lockdown, it’d be way higher.
56.
by jhwang5 6y ago
One color I would add - hearing the tax season deadline moving to July drastically reduced the ad spend from tax filing software services companies. Of course, ad spend is also just down overall.
57.
by jhwang5 6y ago
In the cloud business, based on the tweet
58.
by jhwang5 6y ago
Exactly. He's playing with Saudi's money. People are conflating managing your PA vs others'.
59.
by jhwang5 6y ago
How do you reconcile calling some one bad at making money, when he is worth 26bn. In all seriousness, luck is >85% of making big money.
60.
by jhwang5 7y ago
Most of her calls in contrarian-investing got absolutely demolished this year, check out the EM vs DM equities performance for example.

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