Lavery

7 ms·

1.
by Lavery 4y ago
The capital gains / income tax rates have only a minor impact on the weight of growth in valuation models. One way to see this without getting to technical: there are a number of (very large) institutional investors that pay no tax at
2.
by Lavery 5y ago
Just to take issue with one piece of this, the crash requirements do need to compete with commercial aviation, because in the customer mindset they will.
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by Lavery 5y ago
Probably parents realizing their children were making in-app purchases beyond what they (the parents) were aware of, and charging them back as unauthorized use. The cc processors pass that on to the merchant, and will drop them if there ar
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by Lavery 5y ago
There are two other reasons bike lanes don't have the kind of demand induction properties that roads do: -Bike lanes (and ultimately, bike destinations) have way higher humans-per-square-foot of road / parking lot density than car
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by Lavery 5y ago
Lots of comments here on the causal side of elite production, but just to float an alternate possibility: This could just as easily be suggesting that "overproduction" of elites is due to, some two decades prior, a creeping sense
6.
by Lavery 5y ago
>It's surreal to see people minted with money for life and yet deliver so little value. That sort of arbitrage usually only happens on Wall Street. This must be a joke? The multi million-dollar exit with zero actual earnings is an
7.
by Lavery 6y ago
I read a study a while ago arguing that reactor cost was as expensive as it is because nuclear plants are so large, complex, and infrequently built that each project is essentially bespoke.
8.
by Lavery 6y ago
This ignores the fact that everywhere (including countries where wealth taxes are implemented today), there is a floor below which the tax does not kick in.
9.
by Lavery 6y ago
Turmoil, yes, but internalized to the corporations impacted. One of the major impacts of the financial crisis a decade ago was the massive increase in private equity ownership of real estate. Groups like Blackstone (BX), the largest resid
10.
by Lavery 6y ago
Related question: What's the tech here that this can be accomplished (streaming data via satellite) without spectrum? Spectrum assets are some of the most valuable assets in the US (and are owned by Verizon et al). Satellite phone ne
11.
by Lavery 6y ago
Sorry, wrote that quickly and wasn't super clear. What I meant was ranking. The S&P 500 is what's called a "cap-weighted index", where companies are ranked 1 through 500 by market capitalization, which is share pri
12.
by Lavery 6y ago
One other note on Tesla in particular, that I think the other comments here have largely missed: Tesla is--and has been for a while now--the largest market cap company that is not included in the S&P 500. To be considered for inclusion
13.
by Lavery 6y ago
#1 Interest rates are as low as they have been in an extremely long time, people/institutions want higher returns so they are putting money into vehicles with higher returns(stocks). This isn't wrong, but it's also wo
14.
by Lavery 6y ago
>Amazon is an formidable acquirer and probably the only big-tech that knows how to squeeze from their M&A activity. Not really sure how you're using "squeeze" here, but Instagram and Whatsapp were both, with the benefi
15.
by Lavery 6y ago
Unfortunately, the volcanoes have thus far resisted public pressure to reform.
16.
by Lavery 6y ago
A bunch of other folks have replied to different pieces of your comment, but I just want to point out that nearly all major index/ETF providers have halted rebalancing + reconstitution.
17.
by Lavery 6y ago
House of Leaves is a great novel. Will feel like a completely fresh take on narrative form. Infinite Jest is also great, if you haven't read it. It gets a lot of bad press mostly due to being fetishized by a particular type of insuff
18.
by Lavery 7y ago
Other states have tried to go before Iowa in the past--being the first state to vote has significant benefits to the local economy, as campaigns spend ad dollars, hire local teams, deploy ground efforts that eat in local restaurants, etc. I
19.
by Lavery 7y ago
There're like three sub-threads to your comment now of people getting it wrong. What you are describing is Gross Bookings. If you don't believe me, Uber's quarterly financial results are here and you can see for yourself.
20.
by Lavery 7y ago
The cost to Uber users is not the same as revenue to Uber corporate. Uber corporate revenue is net of driver pay.
21.
by Lavery 7y ago
You seem to be suggesting there's a media bias here. I think probably an honest answer to your question is "Tesla has all of these advantages in data gathering, but is not operationally equipped to use them." Changes to circ
22.
by Lavery 7y ago
Maybe that's reasonable in private markets, but Logmein was a public company (LOGM). Valuations and multipliers for public equities are the consensus of a set of investors who buy and sell the stock all day. Anyone who wanted to take
23.
by Lavery 7y ago
The countries you cite are able to have a minimum wage of zero because it's coupled with a robust social safety net (sometimes along with other backstops--Norway, for instance, is heavily unionized). This pairing is important, and is
24.
by Lavery 7y ago
On a forum so enmeshed in tech and startup culture as this one, yours is a particularly hot take.
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by Lavery 7y ago
Ethical considerations aside, one of the other drivers of this is the origin of some of the money involved here. Most of the largest sovereign wealth funds globally are the result of money generated by resource extraction: Norway, Abu Dhab
26.
by Lavery 8y ago
Just an observation on your comparison here, I think you'll find that the realities of the legal and medical profession are radically different from one another. Medical school limits supply because the salaries (and therefore, quanti
27.
by Lavery 8y ago
You're missing the point in a way that brings to mind a great Brian Eno quote. "The first Velvet Underground album only sold 10,000 copies, but everyone who bought it formed a band".
28.
by Lavery 8y ago
No question that played a role, but it's not like the settlement happened in 2011 and then salaries immediately corrected to the current levels and stayed. This has been a steady climb upwards.
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by Lavery 8y ago
In a lot of ways, the current expression of the tech sector (certainly from a valuation standpoint) and the startup scene particularly feels like a consequence of the response to the financial crisis. Critics of the Fed spent years loudly
30.
by Lavery 8y ago
Part of the trick to convincing people to invest with you is having a significant amount of your own money in the fund. So that's one hurdle here. It's possible to raise enough that your management fee renders irrelevant whateve

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