And more than half the rise in the top 1% share since 1985 flowed through the pass-through businesses that was a "tax efficiency innovation" feature of the Reagan Revolution.
In the 70s and 80s, Japanese companies could get cheap plentiful bank loans to develop new products and explore new markets. Today, they can't. Innovation is downstream of finance.
And the type of risk that we are asking investors to take is um, we know the physics works. We know that there's infinite demand and how we go from here to there is technology execution. And guess what? Venture capital in the United States is the best at underwriting tech risk of anywhere in the world.
This is a supersonic engine adapted for ground power generation that can ship without the rest of the airplane, thereby generating the test data, the learnings, the reliability, and also the capital that we need to go big.
Ahamed, the banker and investment manager whose previous book Lords of Finance: The Bankers Who Broke the World covered the crash of 1929, writes well.
After the financial deplatforming of Western proles and foreign elites, of Canadian truckers and 145M Russians, it’s clear that digital finance is a weapon of war.
I think it is insanely unfair to the companies the way they're forced to go through this process where the bankers pick the price and pick the shareholders. There's just no need to do that. If you took a freshman computer science student and a freshman finance student and said, you know, imagine how a company should go public. They would match supply and demand anonymously like you would in any auction.
the marketing metrics the finance department has faith in and demands from marketing are not those metrics which are most conducive to building brand and customer value over time. They're the metrics which are most conducive to selling tech solutions to the companies.
While there is some utility value in DeFi, it basically lets users transform custodial risk into technical risk (e.g. bridge protocol hacks), which is not a free lunch.
This is Russia's war. And it is Russia that should pay. This is why we need to work urgently on a new solution to finance Ukraine's war effort on the basis of the immobilised Russian assets. With the cash balances associated to these Russian assets, we can provide Ukraine with a Reparations Loan.
You you also don't know like in order to make that money back, you have to then operate that plant at that capacity for 20 years, right? And if I was looking at the same charts as they're looking at right now, I'd say what are the odds that in 25 years time we can produce gas turbines at a price that is relevant in a world where solar is already at its current price and batteries at a price where they're already like you cannot win.
Mind candy: A fun travelogue which does what it says in the title. It pretty much satisfies any impulses I might have to actually see any of the artworks in question. No familiarity with art-critical jargon required, though long passages are (more or less explicitly) art criticism.
I had always thought that all "Intelligent Investing" is "Value Investing". And that true value is always sustainable. In otherh words, "All Intelligent Finance is Sustainable Finance."
You Need a Budget (YNAB) is a simple to use (but sophisticated under the hood) bit of budgeting software that uses the principles of human habits and behavioral finance to make you more conscious and efficient in your spending.
Applied Corporate Finance (Wiley, 4th Ed): This is the book that is most closely tied to this class and represents my views of what should be in a corporate finance class most closely.
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