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1/ This chart of falling interest rates over time has been on Twitter recently. Do you know when and where the concept of charging an interest rate originated?
2/ One view: "Although ancient economies were predominantly agricultural, the practice of accruing interest seems to have been first invented in the commercial sphere of Bronze Age Sumer, apparently with the temples playing a catalytic role." michael-hudson.com/2000/03/how-in…
3/ "Mesopotamia’s commercial rate of 1/60th per month aimed at achieving a numerical ease of computing interest regularly at standardized rates. This basic rate found its counterpart in other regions — 1/10th in Greece, and 1/12th in Rome..."
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Tren Griffin
@trengriffin
1/ Bill Gurley became a Benchmark partner in 1999. That same year Craig McCaw asked me to spend time in their Sand Hill Road office so we could more easily make early stage investments together. Having the opportunity observe Benchmark's DNA up close was a fantastic way to learn.
2/ Benchmark was founded in 1995 by Bob Kagle, Bruce Dunlevie, Andy Rachleff and Kevin Harvey. By maintaining my friendships with Benchmark partners since 1999 I've been able to observe the consistency of their investing style. For example, venturedesktop.substack.com/p/the-merits-o…
3/ "This alignment shines through clearly across the partnership — whether it is Sarah Tavel talking about her investment in Chainalysis, Chetan Puttagunta explaining the logic behind his investment in Sketch, or Eric Vishria responding to a "request for startup" in Open Source:"
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Tren Griffin
@trengriffin
One point Bill Gurley makes in the speech he gave to students at Texas is if you hustle and work you can eventually know as much about a topic as anyone. The material available is unprecedented. Let's say you want to learn about metamaterials. Start with
Then you can keep going deeper and deeper in a specific area to get more informed. For example metamaterials uses in wireless communications:

jultika.oulu.fi/files/isbn9789…

nextgov.com/emerging-tech/…

arxiv.org/pdf/1902.06700…

arxiv.org/pdf/1911.12296…

infocom2020.ieee-infocom.org/keynote
To understand the importance of metamaterials you need to understand the business and technical implications of cloud native communications software. As you work to expand your understanding of the many systems involved, you can achieve what Gurley was talking about.
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Tren Griffin
@trengriffin
One thing about a company that has net revenue of $123.8 million and net loss of $124.2 million is that it doesn't have "earnings." news.google.com/articles/CAIiE…

25IQuiz: How much cash did Canopy Growth burn last quarter?
"GLJ Research concluded Aurora will burn through its liquidity in just over 7 months.

Ello concludes Tilray had just under 4 months of cash as of its latest report. $100M in cash and a monthly burn rate of about $27M. Green Growth has one month of cash." google.com/amp/s/www.barr…
Large Canadian pot producers have a median of 6.5 months of cash. google.com/amp/s/www.bloo…
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Radigan Carter
@radigancarter
1/ Just went through the second video on Retirement Crisis that @RaoulGMI has done. Highly recommend both.

Watching the first one on youtube is what got me started on @realvision actually.

Here are my notes and thoughts on the second video.

2/ To be transparent, the focus of the notes are for what I'm going to do in my late 30s. I'm very lucky, my parents always lived well below their means, now in late 60s own rental property, no debt, plenty of cash on hand, and good income.

That gives me a lot of peace of mind.
3/ This video is like the capstone course on the perils of passive indexing.

It took me a while to figure out my view of it, but am starting to look at passive investing as keeping up with the Joneses.

Doing it I'm not getting wealthier in relation to my peer group.
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Curation Mostly....🤔👨‍💻
@CurationMostly
A running thread of things that @Twitter could do to unlock value for users. Will add to overtime. Please feel free to retweet and reply with your own, most of these below I have just taken and summarized from others. In no particular order. 1/♾ #JustKidding 🤔 or am I?
@Twitter I drafted a tweet on my phone but of course, can't access "draft's" on the desktop. So lets maybe start there. The desktop and @Tweetdeck version should be MORE robust than the mobile app not less. Tweetdeck, for example, has no bookmarks, emoji's, live video, polls, gif's, etc
@Twitter @TweetDeck There are SO MANY great meaningful quotes, threads, replies, and conversations that vanish into the Twitter ether, drowned out by hot takes, snark, and 280 character riffs on what some influencer or politician just did. Find a way to collect and resurface this treasure trove.
Read 80 tweets
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IndoPacific_SCS_Info
@IndoPac_Info
Twitter seems to be banning or suspending accounts belonging to critics of the Chinese government. It started yesterday May 31th. Here is one report - I noticed a sudden loss of followers yesterday, I checked, it was mainly China critics. Twitter❤️🇨🇳 Amazing! @mouse @1GigiSims
This is happening as an effort to silence #China critics ahead of the anniversary of the Tiananmen Square massacre, which is next Tuesday. Twitter is helping China do its dirty work to silence the legitimate opposition. Twitter has hit a new all time low! 👎👎👎
One other possibility that can't be discounted is that the #Chinese government is hacking into Twitter and is deleting the accounts of Chinese critics. I did hear reports in the past, that Chinese hackers were able to get into Twitter & do that.
Read 29 tweets
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Frank van Lerven
@Frank_vanlerven
NEW: A Government is not a household - claims of ending austerity ring hollow until we do away with the household fallacy.

The single greatest masterstroke of Cam-Osb era was to undercut future progressive policy by mainstreaming the household fallacy. bit.ly/2z5aGEZ
The truth is, the household fallacy has been weaponised for purely political ends: to prevent progressive spending policy from gaining legitimacy. Its apparently instinctive logic disguises the truth– what is true for an individual household is not true for the government.
By cutting its spending the government also ends up reducing its own income. So unlike a household, government spending and income are not independent of one another - reductions in government spending when economy is under performing leads to higher debt and lower growth.
Read 9 tweets
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Millennial Macro
@MillennialMacro
#demographics #militaries #economies #currencies
#USA
- Best demographics
- Largest military
- Largest economy
- Most used currency
- Liquid financial markets
- Open capital account
- Rule of law
- Best geography
- Can be self sufficient if required
- Not trade dependent
#USA
Top trade partners as of 30 June 2018:
- China: 15.2% (strategic competitor)
- Canada: 15.1%
- Mexico: 14.6%
- Japan: 5.1%
- Germany: 4.4%

The next 10 years could result in the below:
- Mexico (25%)
- Canada (20%
- Japan (7%)
- South Korea (5%)
- Great Britain (4%)
#USA
Bring the manufacturing (jobs) home while negatively impacting China's economy.
forbes.com/sites/kenrapoz…
cebglobal.com/talentdaily/au…
irishtimes.com/business/econo…
Read 338 tweets
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Abhishek Murarka 🐂💹
@abhymurarka
💪A thread on amazing Twitter threads 😍👇
In the process of revamping my #Twitter profile (dormant earlier), I have come to appreciate the wonderful underutilized platform it is!
Some threads contain crisp knowledge capsules that can help many. Starting 1 on such curated content
1. I largely rely on this: threadreaderapp.com to find content
2. What I wish to share is what coincides largely with my interests- #Learning, #Investing, #Behavioralpsychology (#mentalmodels, #bias, etc), #Businessbooks, Industry insights/case studies, Life experiences, etc
3/n
 While it will be difficult to structure the order of content here, I will try to block threads by category (as noted above & more). Feel free to comment with any good thread that you would have come across. Cumulative learning always helps.
#vicariouslearning
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