EC101: Links for 24th October, 2019

Five articles about spends during the festive season in India this year:

  1. “Whether government stimulus packages announced so far will have an impact on festive consumption is a big question. An even bigger question is whether consumers, who are coping with flat-lining incomes and a poor job market, will respond to the incentives offered by companies. If this Diwali fails to sparkle in terms of consumption demand growth, outlook for the next few quarters will get much gloomier.”
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    The ET explains the importance of the Diwali season sales for India’s economy. A useful set of charts.
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  2. “Sawai Makwana, 41, who runs a hair salon and a cafe in Jaipur, is a worried man. This will be my worst Diwali in nearly 30 years, he says. A third-generation hair stylist, Makwana says his business took its first hit in 2016, as a result of demonetisation. Matters have grown progressively worse since he has been forced to close down a section of his salon and sack 14 of his 16 employees. Male customers, who would spend an average of Rs 2,500, have either stopped coming or now just ask for a basic haircut that costs Rs 300, he laments.”
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    Always (always!) be wary of biased sampling and poorly researched articles – but here’s an article from India Today about the same topic.
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  3. TechCrunch on how Amazon and Flipkart are dealing with the crisis.
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  4. On the growth in Tier 2, 3 and 4 towns and how they impact these sales.
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  5. And circling back to the ET, early reports seem to indicate that things weren’t quite as bad as was being feared.

Tech: Links for 17th September, 2019

  1. “Never attribute to malice that which is adequately explained by stupidity“.
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  2. Jason Snell reviews the iPhone launch event.
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  3. … as does Ben Thompson.
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  4. The importance of the U1 chip.
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  5. I don’t quite remember how I landed up here, but this was interesting for a variety of reasons. On a company called OKCredit.

Links for 8th March, 2019

  1. “The canonical source for enforcement is Facebook’s public community guidelines — which consist of two sets of documents: the publicly posted ones, and the longer internal guidelines, which offer more granular detail on complex issues. These documents are further augmented by a 15,000-word secondary document, called “Known Questions,” which offers additional commentary and guidance on thorny questions of moderation — a kind of Talmud to the community guidelines’ Torah. Known Questions used to occupy a single lengthy document that moderators had to cross-reference daily; last year it was incorporated into the internal community guidelines for easier searching.A third major source of truth is the discussions moderators have among themselves. During breaking news events, such as a mass shooting, moderators will try to reach a consensus on whether a graphic image meets the criteria to be deleted or marked as disturbing. But sometimes they reach the wrong consensus, moderators said, and managers have to walk the floor explaining the correct decision.”
    The Verge (Casey Newton, specifically), reporting on Facebook moderators – the human ones. This article is about the troubles they go through, and the costs they have to bear while doing so. A sobering read.
  2. “Our international panel of judges — Pete Souza, Austin Mann, Annet de Graaf, Luísa Dörr, Chen Man, Phil Schiller, Kaiann Drance, Brooks Kraft, Sebastien Marineau-Mes, Jon McCormack and Arem Duplessis — gave some insight on why they loved these shots. ”
    Worth it for at least two reasons – make that three. One, how skilled would you have to be, in the not too distant past, to take photographs as good as this? Two, the photographs themselves are quite breathtaking. Three, the commentary after each photograph helps you understand why those photographs are, in the opinion of the judges, so good.
  3. “India has the potential to be the single largest democratic free market economy in the world. But it needs to simultaneously cut down on its corruption, create jobs for millions of new entrants to the labor economy every year, stand up a new generation of digital-first behemoths, all the while balancing the needs of an incredibly diverse and cacophonous democracy buffeted by global markets and tastes. That’s ultimately a tall order, but if India wants to migrate from a “billionaire raj” to an “entrepreneur raj,” it will have to do all of that — at once.”
    The tech website TechCrunch, on India’s challenges in terms of becoming the next – not Silicon Valley – but China. If you want a more in-depth analysis of what is being spoken about here, I’d highly, highly recommend How Asia Works, by Joe Studwell.
  4. “Econocrats and academic scholars need to take a hard look at the rising implications of intellectual property law, cooperative agreements and proprietary agglomerations of data in stifling competitive behaviour and mobility of new firms. Aggregating more information on firm-level growth narratives and better information dissemination (for researchers) will help analyse firm-level productivity impacts on market growth and overall industrial productivity levels over time.”
    Somewhat related to what is linked to above, but also linked to a Twitter thread I linked to this past Saturday by Atif Mian. An interesting, if somewhat complicated read.
  5. “The National Company Law Appellate Tribunal ordered that no lender can declare its exposure to embattled IL&FS Group as nonperforming without its permission – even if there is a default. The ruling by the bankruptcy court, which is overseeing the government-sponsored $12.8 billion insolvency of the infrastructure financier-operator, undermines the Reserve Bank of India’s powers to make banks and nonbank finance firms present a truthful account of their financial position at all times.”
    This isn’t getting quite the coverage it should, but we’re putting a lot of stuff under what is very quickly becoming a very large blanket.