I'm really not a fan of defense tech. Innovation how to most efficiently kill another human is weird AF.
But, it's the first time I hear Anduril Industries founder and CEO Palmer Luckey talk. Sharp, simple dude.
It's not arbitrage with GDR today. GDR holders are not entitled to JFSL. Instead trustee will sell shares on transfer proceeds ex. expenses.
See FAQ by Reliance:
https://www.ril.com/DownloadFiles/SchemeOfArrangement/FSB/FAQs%20-%20GDR%20-%20JFSL%20Scheme.pdf
On Monday, when fuckhead exited grain deal, grain barely moved. Today my suspicion was confirmed, that market participants were counting on Turkey to get the grain out of Black Sea. Today Turkey said it does not want to "escalate". Will sit with fh in August.
And so wheat jumps
TIL: "New Zealand has some of the most polluted water in developed w. 45% of country's rivers are unswimmable. 60% of country's fresh water sources carry concerning lvl of nitrates. 95% of rivers in rural areas are contaminated". Agro
Gov has plan; not innovation though - taxes.
"Meta Llama 2 released! My eyes go str8 to the license.
Good:
- non-exclusive, worldwide, royalty-free license to use, reproduce, distribute, modify, and create derivatives
- Fine for commercial use unless you’re currently already serving over 700M/month active users
Interesting:
- You can't use it to improve other large language models besides Llama 2.
lol:
- License terminates if you sue Meta for IP infringement." Harrison Kinsley
Reliance Industries is consolidating and splitting off financial arm. Ex-date set in 6 days (July 20). RIL shareholders will receive Jio Financial Services (JFSL) share for each RIL share they own.
JFSL will be publicly listed. I think Ambani studied GE story very closely...
GE w/ Welsh inertia wanted to do everything and mostly did. Appliances, industrial, energy and ultimately financing, insurance, asset mgmt. RIL could be an elephant in the room in India, but I think Ambani realized, esp. looking at $BABA Ant Financial, that gov may not let Indian financial stability hang in hands of few lenders (over time that is). From what I read, regulators were already sharpening their knifes.
What I like about Jio Financial Services demerger:
-JFSL will be 5th India's largest financier, will compete w/ Paytm, Bajaj Finance
-floated JFSL stock price <200 Rs (3-5x P/BV, some holding discount) - marginal hit to parent (even if)
Importantly:
-different sets of investors (understanding what is owned, higher multiple)
"Dollar dethroning" came and went. Did facebook credits ran out?
On that note, some points by SPG:
Interesting slide by Ark. $AMZN robots, were not overhired during pandemic, contrary to humans.
Mexico exports nearly as much to US as China.
P.s. I continue to hold view, that China's exports are experiencing delayed post-pandemic export glut normalization.
Twitter slides in domain rankings. H/T Matthew Prince
Pew Research suggests polarization in how Indians perceive Russia is growing. I once commented on overall high rate of confidence in India. Russian paid social media, low immunity to propaganda. And of course - historic trade and anti-colonial sentiment.
Today saw a tweet right before it was deleted about Erdogan blackmailing Sweden Nato bid for EU membership. Thought it was fake.. turns out not.
A swede in comments: "better Sweden not in Nato than Turkey in EU"
Loonie dictator.
One of those oldies, you probably heard, but never knew name. Brainbug - Nightmare. 90s trance scene. #GLMusicDiscovery
This Monday, in sunny and windy setting, Lithuania managed to produce more than in consumed first time since 2009 before the shutdown of Ignalina Nuclear Power Plant.
Great thread on challenges of Ukraine's accession to European Union.
Highlights problems I was ignorant about. Enlargement, decision consensus, veto, finances, potential partial entry vs partial exits.
Under current legislature, every member would become net Contributor.
If kids/students don't distort this too much (summer break), we may finally be witnessing peak of AI hype.
Wordwide traffic to ChatGPT website dropped 9.7% in June MoM.
But, "traffic to the platform.openai.com developer’s website was up 3.1% from May to June" Similarweb
From my Q2 end notes:
"What continues to surprise is bonds vs SPX yields and risk premium positioning. Huge flows should be sucked from equities to bonds, but.. just goes out to show a) how many excess paper is everywhere b) market does not buy into sustained yields state"
CHINESE SPY BALLOON BROUGHT DOWN EARLIER THIS YEAR DID NOT COLLECT INFORMATION OVER U.S. - PENTAGON
De-escalation in motion. "Dictator" remark does not count due to age and elections.
#China #US
-CentOS ~x20 more popular server OS than upstream Red Hat Enterprise Linux
-Redhat was acquired by $IBM in 2019
-IBM promised 10yr support for CentOS, promise (and trust) recently broken
Below is a chart of two companies. One knows how to do opensource, the other doesn't.
There's a Con in the Confidence
#Semantics