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Josh Wolfe
@wolfejosh
, 3 tweets, 1 min read Read on Twitter
1/ CRAZY SPECULATION

If current tech boom busts—

—the straw that broke its back may be traced back to 2 things: legistlature + leverage.

LEGISLATURE: 10 Attorneys Generals (including Letitia James (NY) + Xavier Becerra (CA) oppose Sprint TMobile merger
nytimes.com/2019/06/11/bus…
2/ LEVERAGE: Softbank owns 84% of Sprint which makes up 30% of its total liabilities. Post merger it would own 27% of combined co’s.
And this is the 3rd attempt in 5 years to do the deal. If it fell thru, Softbank is stuck with no-growth Sprint + ton of debt....
3/ That debt + rumors of at worst troubles + at best more modest ambitions of raising Vision Fund 2—would eliminate a key marginal price setter + referencable comp underlying many (ridiculous) valuations.

ILLIQUIDITY.
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More from @wolfejosh see all

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Josh Wolfe
@wolfejosh
1/ 80% of new IPOs have no profits. Last time that happened was 2000 before the bust.

We know why. But how may it end?

Why: A handful of old people artificially decide and set the price of money—and lowered it.

Consider:
Retirees with 1M earning $50k (5%) instead got $10k...
2/ Retirees go out on the yield curve.
They move from safe fixed income into higher yielding perceived to be safe bond funds (which may prove less so) + equities—and high growth equities at that
3/ What has been in demand is what has been scarce: GROWTH.

And most growth has been top line growth of tech.

Even if that growth is horribly unprofitable.

As long as greater fools want growth and buy in later, equities rose...
Read 12 tweets
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Josh Wolfe
@wolfejosh
1/ If you are GENEROUS and you are not reading and sharing with everyone you know: Ocean Vuong “On Earth We’re Briefly Gorgeous”...

—or if you are COMPETITIVE and not reading it and devouring it and keeping it secret all for yourself ...

...either way—you are abusing time.
2/ sample of what awaits — “freedom I am told is nothing but the distance between the hunter and the prey”...
3/ ...the monarchs that fly south won’t make it back north. Each departure then is final. Only their children return.
Only the future revisits the past.
Read 3 tweets
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Josh Wolfe
@wolfejosh
1/ Here is the quick story of Aira––a truly mission-driven company & a HUGE HIRE.

Mike Randall joins after years of leadership at Yahoo, Facebook, and Snap....
aira.io/welcome-ceo
2/ Aira was founded in January 2015 with a simple mission:

provide blind + low vision people with instant access to information.
3/ Using a pair of smart glasses, a smartphone app, + human AI-powered platform—

they create audio AR experiences by interpreting the world in real time to users––who they call Explorers—& empower them to make their own decisions w/the same info that sighted peers have at hand..
Read 9 tweets

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Pierce Gordon, Ph.D.
@piercegordon1
Great thread. Parts of it I agree with, others make me concerned.

Let’s unpack.
Clearly, the point of the discussion offers an opportunity to widen the tech pipeline; to ensure accomplished black CS HBCU students get their foot in the door. Critical. Essential.
However, it also offers a question that @peterme brought up: so, is Stanford then just an expensive trade school?

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Zen_Mona
@Zentwittee
@cszhu Me in #tech 1990s:
Done Distributing processing 1994
found the 1st PCI bus bug
1st person completed 1.3M gate Emulation project on time & within budget
just to name a few

Me today:
3failed murders, suspects are #USPTO coworkers
Avoid being killed by patriarchy or 1st gen Asians
@cszhu Me late 1980s:
Written an AI program using C when C was used for AI
EE adjunct Instructor (typically use Adjunct Prof b/c most ppl didn't know what Adjunct instructor was)
Applied Physics researcher while pursuing a PhD at the same time pursuing a 2nd Master's in Computer Science
@cszhu An example of why Emulation was such a bleeding-edge tech, take Distributed Processing at it’s infancy in 1994-5 when I started using it to get around an outdated workstation IPX, and to speed up my compilation

Emulation required extensive compilation, synthesis, Place and Route
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𝖼𝗁𝗂𝗅𝗅
@TheChiIIum
NY— A construction official involved in rebuilding the World Trade Center is accused of taking thousands of dollars in bribes, including Knicks tickets, in exchange for giving confidential info to a contractor and hiring unqualified people w/family/personal ties as electricians.
New York Attorney General Letitia James announced charges today against 58-year-old James Luckie and two former managers at an electrical contractor on the project.

If convicted, they face a mandatory state prison sentence of at least 15 years.
If you’ve never researched the Knicks’💰- you’re missing out. #MuhRussia
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Chris Allison
@ToferC
Next up: Effective & ethical #AI design needs #HumanCentric #design w/ @JamesGuszcza - Data Science: written by Bill Cleveland in 2001 - coined the term. @BellLabs . Greater Statistics as a concept and going beyond. #ODSCWest
Need to think about #tech with #users to avoid #artificalstupidity (remember #unintentedoutcomes?) #HumanCentricDesign (See Don Norman - Design Everyday Things).
@threadreaderapp unroll
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Marcel LeJeune
@MarcelLeJeune
#BOOM Archbishop Chaput goes #MicDrop at #Synod2018
"If we lack the confidence to preach Jesus Christ without hesitation or excuses to every generation, especially to the young, then the Church is just another purveyor of ethical pieties the world doesn’t need."
"The elders of the faith community have the task of passing the truth of the Gospel from age to age, undamaged by compromise or deformation. Yet too often my generation of leaders, in our families & in the Church, has abdicated that responsibility...."
...out of a combination of ignorance, cowardice and laziness in forming young people to carry the faith into the future. Shaping young lives is hard work in the face of a hostile culture."
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Alexandra Erin
@alexandraerin
With the departure of Gary Cohn and Trump's continuation/escalation of rhetoric, it seems apparent that the tariffs are not a case of Trump Says A Lot Of Things.

He's really going through it with this time.
It occurred to me last night that maybe this is another case where words are being thrown around ("tariff" and "trade war") that not everybody has a firm handle on, but no one's bothering to explain them.

So that's what I'm going to do here, this morning, briefly.
In the modern English sense, tariffs are simply taxes on imports, usually on the value of the import, like a sales tax. A "25% steel tariff" means that if you import a million dollars' worth of steel, you're paying $250,000 in taxes.
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