rmrfstar

60 ms·

1. 511.▲
   Ask HN: When has a bankruptcy threat been used to force a bailout?

   1 points by rmrfstar 7y ago|0 comments
2. 512.▲
   by rmrfstar 7y ago

   Thanks. I wanted to avoid getting into the weeds on Chapter 7 (liquidation) vs. Chapter 11 (reorganization). Both are so disruptive and costly that threatening to invoke them can be (and has been) used to force a public bailout. A good exa
3. 513.▲
   by rmrfstar 7y ago

   There is a middle path, where creditors are converted to shareholders and shareholders are massively diluted. Effective control of the company will be placed in the hands of people who re-capitalize the company, and they will definitely n
4. 514.▲
   by rmrfstar 7y ago

   Unfortunately the bankruptcy process is extremely slow and costly. A lot of built-up value like institutional knowledge is destroyed. Bailing-in creditors and diluting shareholders is fast and cheap by comparison. This is particularly true
5. 515.▲
   by rmrfstar 7y ago

   For those who want to understand buybacks, please read the first 7 pages of [1]. This is the leverage ratchet effect in action. [1] https://www.gsb.stanford.edu/faculty-research/working-papers...
6. 516.▲
   by rmrfstar 7y ago

   The Kalman filter can be derived as the conditional mean/variance of a multivariate normal. You assume a linear state-space model and walk the equations forward. Those are the key limitations: linear state space; Gaussian innovations
7. 517.▲
   by rmrfstar 7y ago

   Thanks for pointing out a rebuttal. Taking a step back from "good or bad?"... One thing I haven't seen outside the academic literature is a discussion of the leverage ratchet effect [1]. Buybacks are just one lever that act
8. 518.▲
   by rmrfstar 7y ago

   Is it capitalism or a broken culture that celebrates avarice? Capitalism + public industrial policy made some serious progress. Back in the day there used to be this word called "solidarity". Capitalism does quite well when divo
9. 519.▲
   by rmrfstar 7y ago

   For the "self-interest produces efficiency" people: Here is a payout diagram for the two-player antisocial/prosocial game: (A,A)=(6,6) (A,P)=(15,5) (P,A)=(5,15) (P,P)=(12.5, 12.5) The unique Nash equilibrium is (A,A). That i
10. 520.▲
    by rmrfstar 7y ago

    Brave placed "Tweet this" buttons next to 5 bullet points on its page. In this setting, how could they conform to the consent standard you have articulated? Is the default opt-out (no tweet) enough? Must they offer a "twee
11. 521.▲
    by rmrfstar 7y ago

    I am new to HN. If you down-vote me, please let me know why. I'd like to understand what drives decisions around these parts.
12. 522.▲
    by rmrfstar 7y ago

    Transparently soliciting a specific desired behavior doesn't fall within the traditional definition of disingenuous. Does it bother you that a commercial entity with "a dog in the fight" is asking you to take action on its be
13. 523.▲
    by rmrfstar 7y ago

    The quote that follows is from a once-popular proposal for batch auctions that was essentially nixed by incumbents that profit from complexity in the existing market structure. You may want to check out pdf page 50 of [2] for a detailed de
14. 524.▲
    by rmrfstar 7y ago

    Yes, pdf page 50 of [1] has a graph with a thoroughly worked example. [1] http://people.stern.nyu.edu/jhasbrou/TeachingMaterials/STPPm...
15. 525.▲
    by rmrfstar 7y ago

    Why was this down-voted? If we don't pause to examine the dramatic moral failings of earlier tech titans, how will we identify our era's blind spots?
16. 526.▲
    by rmrfstar 7y ago

    In what way did the author use any more imagination than you just used? If you have a primary source that has Ford saying "I'm increasing wages to cultivate a monopsony over labor" I would be very impressed.
17. 527.▲
    by rmrfstar 7y ago

    Seriously, please read about how creepy Ford was, this article does not do it justice. [1] There are other tech titans with strong ideological views about how you should live. [2] Fun fact: Ford hired "private detectives" who used
18. 528.▲
    by rmrfstar 7y ago

    The canary has been updated, but for some reason they rolled from SHA512 back to SHA1. Does not inspire confidence in their crypto-nerdery. Also, their logo is a bee. Bees make honey. Just saying. Operators of these services tend to fal