I hope the @emilyaccount drama draws attention to the vastly different experiences that many fintwit women have on this platform compared to fintwit men.
I rarely talk about this (since it just tends to court more drama and unwanted attention) but just to emphasize the above point, in the past year I've experienced swarms that have distracted from my work.
I've had reply guys criticize the following
- the fact that I got a puppy (wtf)
- the fact that I eat steak
- silly hobbyist art/sculptures/ornaments that I've made over the past year to pass the time ("Technically it's good but it lacks emotions/feelings" says online random)
I've repeatedly been described as Joe's bride/wife etc.
Actually now that I think of about it, most of this was just in the past month or two (the puppy comment is the only thing from last year).
In general however, I have shied away from promoting my own work on social media because I just don't want to have to deal with it.
I'd argue that it's important to have a social media presence, but I hope there's greater recognition of the emotional/time suck that they can be for many women.
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Places like Sweden, the US, Taiwan, & Germany are experiencing more inflation at a faster rate than emerging markets like China, according to Deutsche Bank's Alan Ruskin. He's aggregated levels and rates of change on CPI, PPI, etc. for the below chart.
One way of viewing that chart is that inflation really is a problem centered on goods, and perhaps most extreme in places that went into full lockdown and are now struggling to restart supply chains and so on.
In that sense, the rise in inflation might be much more about places like the US and Western Europe effectively “importing inflation” as domestic demand for stuff massively overwhelms supply, rather than about places like China “exporting” it.
Thinking more about Ant and its clash with Chinese financial regulators. A couple months ago the BIS published a paper explicitly comparing Ant Group's lending vs. that of traditional Chinese banks.
Ant's use of more sophisticated underwriting tech (massive amounts of big data) reduces the importance of collateral in the financial system, since Ant is looking at things other than just 'how much your house/assets are worth.'
But it also reduces the role of collateral just by increasing Ant's certainty about lending (you only need collateral if you're uncertain about the outcome of the loan).
The U.S. ban on Tencent (WeChat) and Bytedance (TikTok) is a huge deal not because it changes things in the U.S., but because it potentially changes things *within* China.
It seems plausible that once the order comes into effect US companies operating within China won't be able to use WeChat, increasing the complexity of doing business by taking away access to the most common messaging platform. WeChat's pretty central to daily & business life.
A big question will be whether app sales within China also get affected. iOS and Android are the dominant platforms, which means Apple and Google could stop offering the WeChat app and its updates within China (this is more of a problem for iPhones given the App store model).
In today's newsletter, I wrote about how China's encouraging people to become street vendors to replace lost or reduced income during the economic crisis.
It's "gig economy" with Chinese characteristics.
The social campaign going along with this is pretty amazing. Here's an infographic teaching people to become vendors that's been running in a few provincial news sources:
And Tencent's QQ.com collecting all the famous business people who used to be street vendors.
Banking regulators trying to calibrate leverage ratios in real-time to allow banks to extend credit and refuel the economy without burning the whole place down:
Here's a thread of some older Odd Lots episodes @TheStalwart and I have made that are worth listening to right now.
Clearly we're in unprecedented times for markets, finance, the economy and society, but there are some consistent themes that start to emerge --->
First, the world is terrible right now. So listen to Arthur Demarest, an anthropologist who’s often been compared to India Jones, talk about why civilizations collapse (Yes, I think about this one a lot):
The recent market crash is certain to wind up in history books. Here’s @ScottNations walking us through what all the great market crashes in history have in common (he'll have to add a new chapter to his book!)