rlucas

26 ms·

241.
by rlucas 11y ago
Not really even close to fair, unless you're going to claim that Cecil Rhodes' family runs "Rhodesia", Bolivar's family, Columbus, etc. presently .
242.
by rlucas 11y ago
It's not quite that simple. The IRS didn't just fall off the turnip truck. Yes, there's a large chance that if Mr. X sets up a DAF, you might see people with the last name X doing various work for the DAF etc. Same if Mr. X
243.
by rlucas 11y ago
1. I fear you're mistaking the intra-partnership honor for a more general one. General partners [managers or Venetian sea captains] having high trust with the limited partners [investors, Venetian or otherwise] is key to making a comme
244.
by rlucas 11y ago
I have several friends and acquaintances whose exits as founders were in the $5-500 M gross exit value range -- far from a Google / FB outcome. Those people all made an entire career's worth of money, or more, all at once* and wit
245.
by rlucas 11y ago
> Tech employees need to wake up about common vs preferred shares, and that the former are worthless. > ... > They are worthless because they are designed, as a financial instrument, to be fake equity with no real protection from d
246.
by rlucas 11y ago
No, the institutions who allocate money to VC typically do so as part of a long (> 30 year) horizon plan based upon portfolio theory. There are no institutional investors for whom a 25 bp change in a short term interest rate will materi
247.
by rlucas 11y ago
You're missing the problematic part. It's when you've exercised an option that gives you a non-cash, notional ("paper" or "unrealized") gain, and you have to pay taxes on that in cash.
248.
by rlucas 11y ago
Can you elaborate on or source your claim about ERIS? I'm genuinely interested in the historical and scientific question of the viability of ABM at scale. I enjoyed a course perhaps 15 years ago with a professor who asserted that the c
249.
by rlucas 11y ago
What you may not realize is that in a qualified ipo the prefs go away. It's basically the one time when prefs turn irrelevant. (there are still other shenanigans like ratchet to min price sometimes). In practice the qualifier on the ip
250.
by rlucas 11y ago
It's not very fair to say "I'll only believe that an esoteric motivation exists if the party motivated by it explicitly states that publicly." (By esoteric motivation, I mean either an "underlying" motivation o
251.
by rlucas 11y ago
You hit it on the head with "irrational [sic] optimists" even though you whiffed it with "typically worthless." There are at least two very much rational psychological pieces at work here. The first is that people who a
252.
AWS to add GPGPU video transcoding as cloud service(geekwire.com)
1 points by rlucas 11y ago|0 comments
253.
by rlucas 11y ago
I assure you that a $37B (almost all of which is margin) LOB is quite sufficient cause for any number of bankers to lose sleep over. RTFA.
254.
by rlucas 11y ago
Approximately 100% of institutional VC term sheets have a "conditions precedent to closing" section that includes something like, "completion of due diligence to sole satisfaction of Investors." Often there are other &q
255.
by rlucas 11y ago
Well, imagine there is a country called Hegemonistan, and it has the most power economically and politically at the moment. A large plurality at least. Now define the change in stability between t0 and t1 as something like inversely propor
256.
by rlucas 11y ago
Regarding concussion: this is dangerously wrong. To be knocked unconscious due to a head blow is by definition a Grade II concussion. The emerging consensus on brain injury is that even lesser concussions can have severe long term effects
257.
by rlucas 11y ago
You've got to get past about 36 hours before your body / brain stop acting so "berserk." After that, you stop being hungry and you can look at food with relative equanimity.
258.
by rlucas 11y ago
GP is talking about a long-only flash-crash arb strategy -- so assuming you're not buying on margin you don't have the need to have capital reserves to "survive" until the recovery. Of course, especially these days in th
259.
by rlucas 11y ago
reminiscent of the Marshall McLuhan "medium is the massage" thing. Everybody "knows" it's the medium is the "message" because, of course, it's about media and communications... But that pesky objecti
260.
by rlucas 11y ago
I agree that the specific formulation that grandparent used is probably unnecessarily provocative, and also posits a measure of intent or malice aforethought. But re-read what he's written while thinking about the effect of our healt
261.
by rlucas 12y ago
Yeah, this is a hit piece against a low level schlub. By west coast standards, in fact, by New York standards this is light-years away from damning levels of failure. I mean, it's in total less than a healthy series a round, and prob
262.
by rlucas 12y ago
best troll ever
263.
by rlucas 12y ago
And nice to see Seattle's own Danielle M. prompting replies in blog-land ;)
264.
by rlucas 12y ago
There are two senses of the term "mutual" being conflated here. Grandparent is correct that as a term of art, a "mutual" NDA is one that puts non-disclosure obligations onto both parties. Parent is perhaps usefully point
265.
by rlucas 12y ago
The problem here is confusing something that might be "standard fair in the business world" with something that is very much out of market in the startup investor world. If OP is entertaining a commercial relationship with an esta
266.
by rlucas 12y ago
1. dogma1138, your own cite doesn't support your "insurance and pension is > 50%" figure. The Bloomberg link shows a 2014 graphic where: Public pension: 20% Corporate pension: 7% Insurance companies: 7% Unio
267.
by rlucas 12y ago
There are two true answers here. 1. Very large investors actually don't do anything different. The best game in town is the efficient frontier (modern portfolio theory; essentially, spread the bets around so some zig while others zag)
268.
by rlucas 12y ago
Hmmm. A lot of late stage stuff is being done by sophisticated investors, but ones who are sophisticated about other asset classes . Very often large public equity investors are lining up at the pre ipo round thinking they can get some a
269.
by rlucas 12y ago
One of the very, very few proven formulas for rapidly generating concentrated wealth is: centralize (privatize) the profits, distribute (socialize) the risks and costs. Once you start looking for this meta-pattern, you'll see it a lot.
270.
by rlucas 12y ago
That's certainly not what went on here, from the description. Your assertion is truthy, in that, yes, the /practice/ of fractional reserve banking increases the money supply. However, to do the equivalent in the way the examp

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