- “A moment later, the soft in-out of normal respiration, which I’ve listened to my whole life (mostly without being aware of it, thank God), has been replaced by an unpleasant shloop-shloop-shloop sound. The air I’m taking in is very cold, but it’s air, at least, and I keep breathing it. I don’t want to die, and, as I lie in the helicopter looking out at the bright summer sky, I realize that I am actually lying in death’s doorway. Someone is going to pull me one way or the other pretty soon; it’s mostly out of my hands. All I can do is lie there and listen to my thin, leaky breathing: shloop-shloop-shloop.”
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Stephen King on his accident from 1999, and getting back to writing. ‘Nuff said.
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.. - “Rather than outright ranking the movies, which would be a truly impossible task, I thought I’d put together a guide that would hopefully help people getting into Ghibli for the first time. This is obviously very subjective, and even then I’m not necessarily putting my favorites toward the top of the list; this is about easing you into the studio’s work and making sure you don’t write it all off after accidentally watching Tales from Earthsea.”
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Dear reader: if you haven’t experienced (“watched” is a poor word in this context) Studio Ghibli movies, read this article, and then write off the next four or five evenings. At least. And I envy you your discovery!
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.. - “Tetlock established a precise measurement system to track political forecasts made by experts to gauge their accuracy. After twenty years he published the results. The average expert was no more accurate than the proverbial dart-throwing chimp on many questions. Few could beat simple rules like ‘always predict no change’.”
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A short, but well written summary/review of Superforecasters. Read the book too!
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.. - You may have noticed – but then again, you may have not (and who can blame you), but my sentences tend to be complicated, and full of em dashes. Well, so what of it?
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.. - “Low capital cost is why cloud kitchens with curious names (Bhookemon, for one) are quickly scaling up to deliver the same menu at different pin codes with consistency. Apart from low rentals, the sourcing of ingredients is centralised, the R&D happens at a base kitchen and once a recipe is finalised, it can be easily replicated at different locations.”
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On the emergence of cloud kitchens in India, and what this might look like a year or so down the line.
Tag: tetlock
Links for 13th May, 2019
- “There should be limits, too, on the rights investors can sign away. In recent years, some companies — such as Smartsheet and Twilio — have done dual-class issues in which the extra voting rights expire after a certain number of years. These sunset provisions preserve the potential benefits of leaving initial control in the hands of founders, while avoiding the risk of creating a dynastic birthright. That’s a sensible compromise. The Securities and Exchange Commission, or the exchanges it oversees, should make such provisions mandatory.”
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A very useful article to help understand how to think about IPO’s, Uber, Lyft valuations, mandatory disclosures from firms and how they try to get around the issue – and the excerpt above is yet another example of a favorite adage of mine: the truth always lies in the middle.
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.. - “We find that between 1300 and 1400 a 10 percentage point higher Black Death mortality rate was associated with a 8.7 percentage point fall in city population, but between 100 and 200 years later, the impact of mortality was close to zero. When we examine the spillover and general equilibrium effects of the Black Death on city populations, we similarly find negative effects in the short run, and no effects in the long run. Cities and urban systems, on average, had recovered to their pre-Plague population levels by the 16th century.”
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A worrying article, especially towards the end, but two major takeaways for me: cities matter, and trade matters. But my major takeaway is there is (yet more) cause for worry.
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.. - “Unfortunately, the world’s most prominent specialists are rarely held accountable for their predictions, so we continue to rely on them even when their track records make clear that we should not. One study compiled a decade of annual dollar-to-euro exchange-rate predictions made by 22 international banks: Barclays, Citigroup, JPMorgan Chase, and others. Each year, every bank predicted the end-of-year exchange rate. The banks missed every single change of direction in the exchange rate. In six of the 10 years, the true exchange rate fell outside the entire range of all 22 bank forecasts.”
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Forecasts are useless. I cannot be more serious when I say this. Forecasts are useless. But foxes are better at the impossible then the hedgehogs – this article helps you understand these terms, and their usefulness. This blog is about becoming a better fox!
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.. - “Again, one can argue that the amount of redistribution should be larger. But it would be untrue to argue that a significant amount of redistribution–like doubling the after-taxes-and-transfers share of the lowest quintile–doesn’t already happen. ”
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The always informative Timothy Taylor on taxes, their composition, their effectiveness and the resulting redistribution in the United States of America. Also, read the book that is reviewed in this article – the entire book is worth your time, but the chapter on income tax is what I was reminded of.
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.. - “When Paul Romer expresses an opinion, it is always worthwhile to listen because it is always well-considered. In an opinion piece in the New York Times, he puts forward a proposal to restore what he terms is the “public commons” of the provision of information in support of democracy. He actually puts forward two linked proposals: one for a target on targeted ads by digital platform companies and a proposal that the tax is progressive (which may be a check on dominance). The latter is interesting but I will just focus on the former here.”
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I do not recollect if I linked to the Paul Romer piece that is linked to in the excerpt above – in case I did not, please go ahead and read it. The rest of the current article speaks about why Romer’s proposal is a good idea, but not necessarily implementable right away.
EconForEverybody 