Viewing profile — chakkop

Hi Uiri - excellent summary. To add: Ratchet - when companies raise a down round, investors who invested at a higher valuation get issued additional shares. This effectively adjust…

I agree with you: it is a long book, with more problems than can be enumerated and discussed here, but key amongst them is the idea that inequality--the Gini coefficient--matters a…

Maybe more correctly: the vast majority of humanity was equal in its wretchedness, poverty, ill-health, and violence; the vast majority of people led miserable, hungry, precarious,…

Nearly every assumption in this argument of Piketty's is flawed. Is it only the rich that have capital? What about human capital? What about creative destruction--the entry of new …

I think the historical record is against this. Specifically: before the liberal revolution--the liberal idea that all humans are equal, which was truly revolutionary--it would have…

Agreed with you and k-mcgrady. I think maybe we will need to use more and more 'hacks' that make us aware that it's already reasonably good. FWIW, Benjamin Friedman ('The Moral Con…

I'm curious - does anyone else think that the equality that matters is equality in material outcomes? I think that would be such a boring world. The real equality that matters is e…

GM Michael Stean lost to Cyber 176 (a mainframe 'supercomputer') in 1977 (at blitz). AFAIK this was the first time a computer defeated a GM; they began defeating IMs and experts so…

Basically don't overestimate how much the 'adults' understand. There is a huge amount of hand-waving, FOMO, leaps of faith, etc... by VCs when they make (and manage) investments. W…

But all too common on the buy-side, e.g. in PE/VC, and even most public equity investors.

I think the skills are OK. I find the average personality type I encounter in finance a bit abrasive: one-dimensional, sharp-elbowed, too full of certainties. I worry that this mig…

I'm considering taking time off work (up to 6 months) to invest in learning some new skills. I'm 28, have a solid background in math, and my professional experience is mostly in fi…

This is an error in the article, and the responses above are incorrect. 'Ten on thirty' means $10 million invested at a $30 million pre-money valuation, with a post-money valuation…

Here's what's scary: both could be right. Each interprets and constructs meaning from various gestures, actions, words, etc., through their own lens, especially retrospectively. Fo…

A nice effort, but it is jarring to see a simple word misspelled (twice) in the Arabic text in the headline image, a result of which is that instead of 'Print' the text says 'Follo…

They can and they do. Here are some ways: 1. Management makes a share issuance, diluting all existing shareholders by X%. Management then turns around and distributes shares amongs…

A few comments: 1. The scenarios illustrated in the piece seem horrible but are biased. Consider this: a VC invests $20 million in a business and acquires 50% of it, valuing it at …