Links for 1st March, 2019

  1. “What’s distinctive about modern cosmopolitanism is its celebration of the contribution of every nation to the chorus of humanity. It is about sharing. And you cannot share if you have nothing to bring to the table. Cosmopolitans worthy of the label have rhizomes, spreading horizontally, as well as taproots, delving deep; they are anything but rootless.”
    An excellent essay in defense of the idea of globalization and being cosmopolitan. Worth reading for many different reasons – understanding why Brexit may not make sense, understanding the etymology of ‘cosmopolitan’, and how affinity to those closest to you isn’t necessarily hatred for those a little bit farther away.
  2. “It might be difficult to believe that farms and physicians could use the same core compounds and never realize it—but pharmaceutical chemistry and agricultural chemistry are separate professional fields that attend different conferences, publish in different journals, and have no reason to talk to each other. Without medicine ever recognizing it, azoles came to account for one-fourth of all fungicides worldwide. They are used on cereals and seeds, tree fruits and soft fruits, vegetables and flowers, hops and beans. Because they kill fungi so effectively, their use has bled out of agriculture into a vast array of consumer goods, from paints to lumber to glue.”
    A rather alarming article about the rampant use of anibiotics – which is a theme common enough these days – across domains. You can’t help but be slightly alarmed when you read it, but all the same, it is heavily recommended reading – perhaps for that very reason. Sent to me by Aadisht Khanna, a never ending source of interesting information.
  3. “Asking a computer to ‘tell me about this picture’ poses other problems, though. We do not have HAL 9000, nor any path to it, and we cannot recognise any arbitrary object, but we can make a guess, of varying quality, in quite a lot of categories. So how should the user know what would work, and how does the system know what kind of guess to make? Should this all happen in one app with a general promise, or many apps with specific promises? Should you have a poster mode, a ‘solve this equation’ mode, a date mode, a books mode and a product search mode? Or should you just have mode for ‘wave the phone’s camera at things and something good will probably happen’? ”
    Benedict Evans, someone whose blog is worth following in any case, unpacks modern camera systems, and how they’re likely to change over the coming years – for the better is a matter of opinion.
  4. “A new circular from NSE changes the financing game for people who’ve been using the options market for financing deals. The NSE will require cash to be posted (instead of stocks or other instruments) as margin against call options shorted by participants in the longer term options markets.”
    This might not make sense to you if you don’t understand options, but if you do – please do read it. Fascinating – and also helps you understand why understanding anything by reading only a textbook never makes sense.
  5. “The American paddlefish is a beast. It weighs up to 160 pounds and can run seven feet long including its needle-nose snout. String one up and it looks like the Chrysler Building. The Roomba of the Ozarks, they patrol the waters with mouths open, filtering plankton through their gill rakers.But paddlefish have another quality — their eggs happen to taste quite a bit like Russian sevruga caviar. And that curious evolutionary fact explains why, in the mid-2000s, Russian émigrés began descending on tiny Warsaw, Missouri (pop. 2,177).”
    The story has more than its fair share of twists – and is worth reading for that reason alone. Plus, what better way to learn about markets?

Links for 4th February, 2019

  1. “The classic example in language is that a doctor is male and a nurse is female. If these biases exist in a language then a translation model will learn it and amplify it. If an occupation is [referred to as male] 60 to 70 percent of the time, for example, then a translation system might learn that and then present it as 100 percent male. We need to combat that.”The Verge interviews Macduff Hughes, the head of Google Translate. Worth reading for understanding applications of AI, the amount of bias that exists in our culture (along various dimensions), and the garbage in, garbage out problem.
  2. “This was a great year for iPhone customers, but perhaps not for Apple itself… Technology is outpacing customer need and phone lifespans are ever-longer, which we saw hurt Apple’s bottom line.”Keeping a tab on Apple makes sense, and this is a good place to start. Apple has had a difficult year for many reasons, but the most important reason has been a multi-year phenomenon – Apple has gotten too good for its own good.
  3. Ben Thompson tells it like it is:
    “While I know a lot of journalists disagree, I don’t think Facebook or Google did anything untoward: what happened to publishers was that the Internet made their business models — both print advertising and digital advertising — fundamentally unviable. That Facebook and Google picked up the resultant revenue was effect, not cause. To that end, to the extent there is concern about how dominant these companies are, even the most extreme remedies (like breakups) would not change the fact that publishers face infinite competition and have uncompetitive advertising offerings.”
    Worth reading for an excellent discussion of the law of conservation of profits, the Buzzfeed firings that took place recently, and the future of media.
  4. As Tyler Cowen never tires of saying, “solve for the equilibrium“:
    “The content industry spent years trying to battle piracy via all manner of heavy handed-tactics and lawsuits, only to realize that offering users inexpensive, quality, legitimate services was the best solution. Many users flocked to these services because they provided a less-expensive, more flexible alternative to traditional cable.Now, if the industry isn’t careful, it could lose a sizeable chunk of this newfound audience back to piracy by making it overly expensive and cumbersome to access the content subscribers are looking for.”
    Worth reading for why piracy may yet re-emerge, a good understanding of market entry and exit, and competition and its implications.
  5. “The market valuation of Baidu, Alibaba, and Tencent (BAT) is more than a quarter of India’s GDP.”
    What a stunning statistic. The rest of the blog post is a good way to acquaint yourself with how China has seen it’s internet ecosystem grow, and where India could improve.