flâneur

Chirag Khairnar

1 followers · 6 following · 282 views

on the atlas — 29

highlights — 19

  • Kothari was born and raised in Ahmedabad, a city of 8 million in India’s western Gujarat state. His parents sacrificed to send him to school in America, so Kothari says he did nothing but study when he got to Purdue University in Indiana.
    Notion CEO Ivan Zhao: Augmenting Human Intellect | Sequoia Capital
  • Zhao’s mom loaned him $150,000 to keep the startup afloat.
    Notion CEO Ivan Zhao: Augmenting Human Intellect | Sequoia Capital
  • For better or worse, once the robots are doing all the work, wealth and power will shift again.
    Capital in the 22nd Century
  • First, by making it easier for small investors to pool their resources until their returns match those of large investors. For instance, we could deregulate how banks, or at least some banks, can invest their savings deposits, even if this implicitly means that the banks are subsidized with stronger deposit insurance.
    Capital in the 22nd Century
  • Third, new technologies may allow large amounts of capital to reside productively in the places currently outside any country’s jurisdiction: international waters and outer space.
    Capital in the 22nd Century
  • n other words, even if all the world’s natural resources belonged to the world’s poorest countries, it would probably be a long time before their share of global income exceeded 5%, if ever.
    Capital in the 22nd Century
  • If essentially all wealth belonged to a few people, not many companies would pay the costs of going public to get access to everyone else’s nickels.
    Capital in the 22nd Century
  • What will remain is (ii): the fact that some investments, and perhaps disproportionately the fastest-growing investments, are open only to large, private investors.
    Capital in the 22nd Century
  • As for (4): in general, the rich can earn higher interest rates than the poor because some investments come with fixed costs. For arguably the most significant example, consider that a significant proportion of each year’s growth comes from the “Luttmer rocket” phenomenon, in which small new firms grow very rapidly, largely by taking market share from incumbents (see e.g. Jones and Kim, 2018). Since the firms are typically private during this growth phase, most investors cannot participate in this growth: only (i) the firm’s founders and early employees and (ii) its private equity investors. T…
    Capital in the 22nd Century
  • Losing hurts less than never betting. Variance smooths out, regret doesn’t.
    Career Advice That Doesn’t Suck
  • With sportsbooks, the trades are against a single counterparty who sets a limit for each price. If the sportsbook is willing to sell me $100k worth of bets at 55% implied probability, I can fill that $100k at 55%. If I do this, the house may dynamically adjust the odds higher, but it doesn’t affect my fill. However, because prediction markets are reliant on external LPs, a large order does move the price. If I want to fill $100k of a bet that has $75k of liquidity at the pricing tick offered, the remaining $25k will be filled at a higher price.
    Prediction markets are suboptimal betting vehicles — LessWrong
  • Kalshi bypasses this by not being a ‘sportsbook’, but rather an independent provider offering a resolution system for two counterparties to bet against each other. They are classified by the CFTC as a contracts market, meaning they can offer events with binary resolutions (e.g. did X team win?). Additionally, because Kalshi is a third-party provider that does not have stake in the event outcome, they are recognized as a peer-to-peer platform and not a bookmaker.
    Prediction markets are suboptimal betting vehicles — LessWrong
  • Directly subsidizing liquidity from protocol profits is not viable in the long run. However, in the short term, it is perfectly feasible and very similar to the CAC (customer acquisition cost) paid by traditional sportsbooks to attract users.
    Prediction Markets Explained — LessWrong
  • True ascent beyond the kept life comes only from taking bold, determinate leaps of faith on real constructive projects.
    Quit Your Job
  • because in many of these decisions, the main person you should listen to is yourself
    what's stopping you from doing what you want?
  • When you actually stop and ask “what’s stopping me?”, and realize that it’s fear, or not taking your own dreams seriously, then it’s a little wakeup call that maybe you owe it to yourself to at least try.
    what's stopping you from doing what you want?
  • Firstly - if your instinct wants you to follow a direction, if you feel physically drawn towards pursuing something, then allow yourself to do that. It’s a literal sign in shining lights showing you where you would feel most fulfilled. No one else can point you towards that but you. Ignoring it makes it one of those things you will look back at in decades and think “I wish I had spent more time on XYZ”. And secondly - most of the excuses you will come up with to not pursue it are not as valid as they feel. Everything has difficulties and compromises, but you get to choose why you’re facing the…
    what's stopping you from doing what you want?
  • Most of my writing leads back to the main idea that you owe yourself a life well-lived and there is no reason not to do everything in your power to give yourself that
    whose path are you on? - by Erifili Gounari - crystal clear
  • But for all the great adventures in life: Travelling, starting businesses, making art, having kids– these are acts that require daily leaps of faith. So for life’s great adventures, pick someone who’s down.
    down