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Garry()
@garrytan
, 4 tweets, 1 min read Read on Twitter
I find this a weird and interesting situation - Germany for instance yields -0.11%

Why even buy bonds at all? Wouldn’t you be better off staying in cash then?
Takeaway: Capital is in such oversupply that you have to pay the government to hold on to it in some parts of the developed world
Global negative-yielding debt hit $10.6T the other day, the highest such total since Sept 2016 and almost 2X the volume in place last Oct.

Who buys? Owners of target-date funds w/ exposure to global bond indexes. Millions of Americans.

barrons.com/articles/jim-g…
Capital is in oversupply, the search for yield is desperate.

What is the most pure yield in the world? Startups when they are real and actually work.

Glad I get to work on that part of the global economy. Done right, it is the most growth mindset business in the world.
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Garry()
@garrytan
Peter Thiel grilling Eric Schmidt (2012)

🏭 Google isn’t a tech co anymore
🏦 It’s a tech holding co with $50B in cash and no ideas
🚀 Accelerating tech world + 0% interest = tech yields large multiples
🛍 $AMZN the only megatech giant reinvesting

Today? $GOOG has >$115B cash
Hat tip @real_vijay super interesting

In Schmidt’s defense he cited not being able to hire enough good people and falls back to typical tropes about education.

This only reinforces how obvious it is that new credentials w/ proverse selection must exist

Google is insanely dominant and a modern marvel in the world

The more provocative and useful conversation is how they really could be even many times bigger and more powerful, but are clearly held back by their own real internal limitations to productive capital reinvestment
Read 3 tweets
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Garry()
@garrytan
Corporate debt is at an all time high. A lot of it just goes to dividends/buybacks, which is zero true value and pure financial engineering to shareholders.

Public companies have so much access to capital BUT they have too few good ideas to execute on!

libertystreeteconomics.newyorkfed.org/2019/05/is-the…
Yet we look around and there are problems everywhere in society that can and should be solved by private enterprise

Where is the disconnect? Big firms actually struggle with talent recruiting, retention and management

Corporations rely on an antiquated 20th century playbook 📖
It’s no wonder tech has become more dominant than ever. Tech is creating new tools to manage and deploy capital while everyone else is just using resumes still.

The result?
Read 6 tweets
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Garry()
@garrytan
Agree with this: my Stanford degree turned out to be valuable in very unexpected way

The most valuable were: working for friends, cofounding with friends, and hiring friends

Human relationships and trust are necessary for building strong orgs, and are a limiting reagent.
At the same time my parents made it clear to me: Never make going to Stanford the headline of your life. That would be a waste. They were right.
Weird observation: most of my friends were actually fellow middle class public school kids. My parents had never even heard of the special summer camps where all the wealthy kids had hung out for a decade.

It was strange but didn’t affect how much Stanford helped me.
Read 3 tweets

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ভৃগুরাম স্বামী
@From_Himalaya
Interesting bit about Sati. Not only wife even mistress used to go to the funeral pure with the dead man. In 1817 govt announced that mistresses can't becomes sati.
This didn't stopped mistresses though. In 1818 Mankumari from Bundelkhand who was living with Banshidhar became Sati. And incident of Sati happened at Sahabad district where a 50 year old women who was living with a man for a long time. They had a 10 year child who became orphan.
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Germany’s far-right party. In the last election they gained seats in the German parliment. This is European politics in a country that experienced utter devastation from a minority party with drastic, diversionary ideology. Surprisingly it is happening again in America & Europe.
Economic crisis followed by Nationalism is a pattern that has been repeated often in history. The political solution @TheDemocrats embrace will need to take this into consideration.

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1/ Even if a potential review of the application for asylum of Kevork Almassian leads to no results, it is necessary to debate about his role as a pawn in a greater strategy of far-right populists in #Germany. While there are many sympathizers and supporters of Assad on the left
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What has @wikileaks has taught and shown us about #Germany? A thread. Add information you've found to be in the public interest that whistleblowers have trusted to the #WikiLeaks archive. #WikiLeaksIsAPublisher #Assange
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Bojan Pancevski
@bopanc
Ethnic Crime Families Provoke German Crackdown:
Criminal clans of Arab and Kurdish origin clash violently in Berlin and broaden their sway in #Germany. My report via @WSJ wsj.com/articles/ethni…
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Musa Okwonga
@Okwonga
1/ Well said. In #Germany there is far, far too much complacency about what the #AFD are doing. “Just the far-Right having a laugh.”
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