121–130 of 149 posts
Was SoftBank and Masayoshi Son a zero interest rate phenomenon?
Their massive early investment in Uber distorted their reality and they expected ride sharing to be incredibly successful in other markets when it's not even successful in the USA - it's a fraud that pays below minimum wage off the backs of people who cannot do math. It has never made money anywhere ... ARM has had a laziness problem ever since the Apple A1 chip - there's a reason why nobody uses their 6-yr old layou…
where is this whole below minimum wage thing coming from? Everytime, I take an Uber or Lyft and calculate the hourly earnings of the uber driver minus vehicle miles, uber's take, and x2 the time needed (for the return trip), I come up with 15$-20$ an hour or so.
I'm guessing posters here either have a view distorted by living in California/NYC or just have the data wrong.
Their massive early investment in Uber distorted their reality and they expected ride sharing to be incredibly successful in other markets when it's not even successful in the USA - it's a fraud that pays below minimum wage off the backs of people who cannot do math. It has never made money anywhere ... ARM has had a laziness problem ever since the Apple A1 chip - there's a reason why nobody uses their 6-yr old layou…
where is this whole below minimum wage thing coming from? Everytime, I take an Uber or Lyft and calculate the hourly earnings of the uber driver minus vehicle miles, uber's take, and x2 the time needed (for the return trip), I come up with 15$-20$ an hour or so.
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Wait until you find out how much cars are now when you have to replace your car 10 years earlier.
I think I’m already aware. I’m comfortable with my decision. I haven’t driven in 5 years and I still drive my prius and probably have 100k miles left.
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> Even in Manhattan, getting a taxi at 2am was a crap shoot. I can an Uber in the suburbs at 2am anywhere in the country. You certainly can call an uber, yes. Whether they come through or whether they find a suitable reason to cancel on you... that's a crapshoot.
It's just plain bad faith not to acknowledge that the scenario you describe was 10x more likely to happen with taxis.
I apologize that your experience was different. And likewise to all the downvotes who figured my experience was false lol.
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Hwang couldn’t have unwound his massive positions without crashing the prices. There was no quitting while you’re ahead for him. I still really don’t understand what game he was playing.
He definitely could have unwound his positions quietly over time. He'd have moved prices, sure, and his profits would have been less than what was marked to market, but nothing would have crashed. Forced selling from margin calls is what crashes prices.
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The poor and middle class don't have investments. Source: all my co-workers and girlfriend's relatives that meet me with blank stares when I ask if they are saving for their retirement or maxing the company match for the 401k. Not judging that- the reality is somewhere in between they can't afford to do much but stay alive due to inflation and housing costs out of control and that they need to stop getting $7 Dutch B…
This is one thing that terrifies me. I'm sacrificing today to save for tomorrow while the masses are doing the opposite. And in a decade or 3 when I have assets they can out vote me and take it all back via taxes or rules that change the game Some examples are like - I paid off my student debt by not going to coachella or doing optional things (that I observed others doing). They might get it cancelled for free. They…
Earlier quoted context omitted.
He definitely could have unwound his positions quietly over time. He'd have moved prices, sure, and his profits would have been less than what was marked to market, but nothing would have crashed. Forced selling from margin calls is what crashes prices.
My impression is it is not at all clear that he could have unwound in a profitable way. If he could have, why did he miss the margin call? He was leveraged to fuck and sunk every little price increase into further leverage.
Of course, the kind of mindset that would have him take profits is not the kind of mindset that got him to such leveraged paper gains to begin with.