HamsterHookah

Levine said it better than I could:

You are right of course, I can and generally do ignore, but I thought it was worth mentioning on the Oscars thread how exhausting that aspect of the Oscars-- especially the Monday morning QB'ing-- has gotten. And probably you've been around a lot longer than I have and so you say it's ALWAYS been this way and it's probably just all the twitter/social media prevalence that makes it feel especially bull-horned today.

Anyone seen this Marriot/Michael Irvin video that was released over the weekend? What a weird story. If Michael Irvin was railroaded by the woman, Marriot and NFL Network, I hope he continues going scorched earth (e.g. lulzy $100mm suit against Marriot Intl., etc.) and clears his name above and beyond shadow of doubt.

I don't watch, actually. I use the Oscars (via secondhand-- online, trending news, water-cooler/party small talk) like wildturkey does as a general gauge for what movies have artistic merit and worth the time to watch. But in the world today, you can't escape the latest macro-news and on this monday everyone is either a refined Hollywood critic or a banking and finance bail out expert, or both, thanks to the attention economy we live in.

I mean, surely there are worse things than having to live 100 or so miles north than where a lot of people already live. Thanks for the serious input though, data points and good food for thought.

"Fit for purpose" as you law dogs would say, but I agree. That said, if pressed for one for general use, it's the OG-- Tabasco. I like the standalone taste of Cholula the best, though, and can and sometimes do sip it straight from the bottle between bites, but that's why it will never play in the major leagues when I'm feeling frisky when ole Scoville

Speaking of idiots, I have a real tough time vilifying people for playing whatever card they chose to play in what was essentially the prisoners dilemma/game theory, when it comes to the bank run. I personally think it's arrogance to sit in judgment of both; people pulling out their money to get ahead of it or not pulling it out in hopes that the bank weathers the storm. It's an impossibly hard problem to get right except in hindsight, IMO.

Serious question; hence the forum. Hoping @'stache @Okie State or any other resident Okie residents can help with a few questions, if you have recent experience: Essentially I've been kicking around the idea of slowing down and chilling out a bit and thought it might be good to quasi-retire in Oklahoma since I'm already in South Oklahoma (Frisco, TX) and it looks like marijuana will never be legal here anyways. A few questions: - What is the most "Frisco" equivalent of Oklahoma? I'm looking at bubble-like suburbs with creature comforts (and sort of betting that in 20 years the appreciation will be really good as people continue the great migration north, especially in Southern OK) - Don't care about public school/rankings - Assuming the OKC airport is the best in the state-- I travel almost weekly for work so airports are a bigger deal than usual. - My first instinct is to find a tony suburb of OKC to investigate-- any experiences there? - A lot of my clients recently have been O&G/Energy, so feels like decent synergy and branding to the world who might think I'm insane for actually wanting to move to Oklahoma, professionally. Anyone from a consulting or professional service/sales background have any trouble or career limitations with living in OK? Like I said though, I'm not actively trying to climb ladders at this point, but still would like to remain relevant.

Hence the post I made earlier about big poppa Jaime Dimon being prescient and wise, despite being derided as "Jaime Biden" around FiDi the last few years:

And from what I've read, if this happens (and probably should?), the fees, in part or in whole (over time) will be passed on to the consumer. Which is maybe as it should be, considering they the consumers are receiving the protection and not the bank.

Poor people eat into the disingenuous tweets about people selling their shares/stock/equity simply because they've never had to deal with the headache of being granted RSUs or options and then exercising them. If they had, they'd know you typically schedule this trades well in advance, and do so within a defined framework (e.g. mine is I think I can sell up to 50% or $1.5mm, whichever is higher).

I was talking about this, but still looks like it’s not helping the fear and was surprised it was down so much: “First Republic reflects investor fears about banks’ health. The independent lender said yesterday that it had secured access to about $70 billion in additional liquidity from the Fed and JPMorgan Chase.” In other news about JPMC: The big winner: Jamie Dimon and the big banks. JPMorgan Chase’s bankers spent the week opening up new accounts as everyone fled smaller lenders in favor of its “fortress balance sheet.” Investors have complained over the years about Dimon’s focus on having enough capital and sufficient liquidity at the expense of earnings, but his approach now looks like the right one. Andrew Ross Sorkin. So basically, yea.

I just read something in the NYT that helped me to understand the sentiment of some on this thread as I just caught up: The venture capital community, a group that includes a vocal group of libertarians, was just bailed out. Yes, these investors do good by funding start-ups, but they have also long lobbied for fewer regulations and also benefited from the special treatment of carried interest. This all looks particularly egregious after some of them spent the weekend begging for government help. But the reality is that if S.V.B. was just a small regional bank that did not have ties to loud, politically connected venture capitalists and the tech community, it might have been allowed to die — and its customers, individuals and small businesses, would have suffered. Instead, because it is Silicon Valley, it commanded attention.

JPMorgan is backstopping these guys, no?

You just got a 40% raise. It's never enough for you people.

I read somewhere that community college enrollment has gone through the roof and the reason is as you mentioned-- a cheaper "subsidized" way to essentially get to 30-40% of a college degree before transferring. Anyways, saw this WSJ article today: https://www.wsj.com/articles/student-loan-bills-are-set-to-come-due-adding-pressure-on-younger-americans-1738b6e0

Anyone go to CERA week and have any feedback or unique experience? It was last week right?

Here it is: https://www.cnbc.com/2023/03/10/roku-says-26percent-cash-reserves-stuck-in-silicon-valley-bank.html Around $487 million, or 26%, of Roku’s cash reserves are stuck at Silicon Valley Bank, the streamer said in a Friday SEC filing.

Cool post; thanks for amending. Topically, I thought I read somewhere Roku had a good amount of money with SVB: eek.

To all founders, investors, and startup employees following the Silicon Valley Bank crisis: Five reasons to take a deep breath right now. 1. On Monday morning, every SVB customer with $250K in their account will get access to that $250K. I know that's not everything, but it's something. 2. Next week, the FDIC will pay an advance dividend to all depositors with >$250K in their account. Not sure how much this will actually be, and it won't be everything, but it's something. 3. Based on SVB's balance sheet, I'd expect the FDIC (or an acquirer) to pay upwards of 90 cents on the uninsured dollar. Why? They have the assets, they are just tied up and slightly discounted. So IMO customers should not fear getting wiped out. 4. Contagion should be limited. SVB is unique in three ways: a) 55% of their assets were in securities, more than any other major bank b) 47% of those securities were long-dated (5+ yrs), more than any other major bank c) 97% of SVB accounts held >$250K, more than all but BNY Mellon 5. It's going to be a rough next few weeks. Lots of fear, uncertainty, doubt. Ripple effects will come to light. Take it one day at a time.

Finally got around to this one. Once upon a time this was my favorite novel and so, as something beloved like a favorite piece of written work, I was equal parts intrigued and scared how they would translate it to a movie, knowing it as I did. Good news is that for the most part it wasn’t bad and mostly worked! White Noise was a product of the culture and time— think of like a more post-modern or 80’s Kurt Vonnegut, and very much a heavy critique of that time. Think: Thomas Pynchon and Philip Roth and even a Thomas Wolfe and Tim Robbins 80’d thing— and the rest of the 80’s trend of critiquing American exceptionalism in consumerism. White Noise was one of those awesome books whose artistry and brilliance was largely rooted in the artistry of what was written. The prose and structure of the words as it was based heavily on dialogue that is snappy and smart and funny and fast. Those are hard movies to make (think: A Confederacy of Dunces and Blood Meridian which, like White Noise, have lingered in development hell in Hollywood and which is why McCarthy wrote NCFOM differently with a movie treatment in mind, allegedly). Overall, I think the dialogue was translated well mostly in the movie and Adam Driver completely nails the role— as best as anyone could at least. I was super Impressed with him as an actor. @Pam Cummings — I think the problem you had with the college thing was simply not enjoying satire: the satire of education and college which was obviously laid on very thick. White Noise was the grandfather of Chuck Pahlanik (sp?) books; so if you enjoyed those books and films, you might see the roots there and think a good comp for Fight Club was probably pitched as a “White Noise for the late 90’s”

But there is another, subtler, more dangerous exposure to interest rates: You are the Bank of Startups, and startups are a low-interest-rate phenomenon. When interest rates are low everywhere, a dollar in 20 years is about as good as a dollar today, so a startup whose business model is “we will lose money for a decade building artificial intelligence, and then rake in lots of money in the far future” sounds pretty good. When interest rates are higher, a dollar today is better than a dollar tomorrow, so investors want cash flows. When interest rates were low for a long time, and suddenly become high, all the money that was rushing to your customers is suddenly cut off. Your clients who were “obtaining liquidity through liquidity events, such as IPOs, secondary offerings, SPAC fundraising, venture capital investments, acquisitions and other fundraising activities” stop doing that. Your customers keep taking money out of the bank to pay rent and salaries, but they stop depositing new money.

If you consider that the bump you saw in paper net worth from 2020-2022 was fake news anyways and never a real thing, you will feel better. At least I do.