Tag: Yemen

April 12, 2018

If you were only to read one thing…

Bloomberg Gadfly – Mark Zuckerberg Refuses to Admit How Facebook Works – Shira Ovide  4/12

  • “The most troubling takeaway from two days of congressional hearings on Facebook Inc. was this: Mark Zuckerberg didn’t want to explain how the social network operates.” 
  • “Zuckerberg found it hard to plainly acknowledge that Facebook tracks users from device to device, collects information on websites people visit and apps they use, gathers information on people’s physical locations, collects phone call logs from Android smartphones and pulls in some online activity from people who don’t even have Facebook accounts.”
  • “Zuckerberg declined to acknowledge that Facebook’s ad system and products are informed by all of this information gathering on and off the social network. If Facebook were a true bargain with users — they get a useful, free service in exchange for seeing advertising based on their interests and activity — then Zuckerberg should be comfortable explaining how it all works.”
  • “Instead, given the option to articulate Facebook’s relationship with users (and non-users), he dodged. A lot.”
  • “He said he couldn’t answer queries from Senator Roy Blunt, who asked on Tuesday whether Facebook tracks users across their computing devices or tracks offline activity. The answer to both is yes. During the House committee hearing on Wednesday, Zuckerberg claimed not to know what ‘shadow profiles’ are, even though this term has been used for years to describe Facebook’s collection of data about people who don’t use its services by harvesting the inboxes and smartphone contacts of active Facebook users. (Zuckerberg reluctantly acknowledged that Facebook gathers information on people who aren’t signed up for Facebook for what he said were ‘security purposes.’)”
  • “Most people do not understand the scope of Facebook’s data collection. Lawmakers tried more than once to get Zuckerberg to say this, but he never did. Here’s a piece of evidence lawmakers could have showed the CEO: In a survey conducted recently by Digital Content Next, a trade group of news organizations that is frequently critical of Facebook, a majority of respondents said they didn’t expect the social network to track use of non-Facebook apps to target ads, collect their physical location when they’re not using Facebook or harvest information from non-Facebook websites that people visit. Spoiler alert: Facebook does all of those things.”  
  • “It’s not people’s fault if they don’t know how Facebook works. If Zuckerberg and Facebook were comfortable with the data-based bedrock of their business, he should be able and willing to explain all the ways Facebook collects data on everyone and how it uses it.”
  • “It felt as though the company made a calculated decision to deflect rather than talk openly about the scope of Facebook data collection and its data-based ad system. And to me, that was a sign that Facebook is embarrassed about what it does for a living.”

Continue reading “April 12, 2018”

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December 8, 2017

Perspective

Economist – America’s flat-Earth movement appears to be growing 11/28

  • “I am constantly forced to remind myself that while we may one day hope to conquer ignorance, there will never be a cure for stupid.”Barry Ritholtz

WSJ – Daily Shot: Moody’s – US States that challenged the Clean Power Plan 12/5

WSJ – Daily Shot: Natixis Investment Management – Global Portfolio Risks 12/7

Worthy Insights / Opinion Pieces / Advice

FT – Lawsuit shows China losing patience with Venezuela – Jonathan Wheatley 12/6

  • “Subsidiary of state-owned Sinopec files case against PDVSA over unpaid debt.”

FT – US tax reform will benefit shareholders more than workers – Michael Moritz 12/5

  • “During the past year the nation’s 20 largest technology companies have gained $900bn in value in a favorable business climate. As a group, at the end of September, they had about $90bn more cash than they did one year earlier — the bulk being accumulated at Apple, Alphabet, Microsoft, Oracle, Qualcomm and Priceline. “
  • “But the increase in their cash balances tells less than half the story. There is nothing to suggest in the rest of the data that, if their taxes were cut, they would build more factories, hire more employees or buy more equipment. Quite the contrary.”
  • “Crunch through the data, available through sources such as Bloomberg, and you will gain some remarkable insights on the financials of the giants of the tech sector. Through the first nine months of 2017 these 20 companies paid just over $27bn in taxes. At the same time, they invested almost $55bn in what the accountants label ‘capital expenditures’ — buildings and equipment. But the real message lies elsewhere.”
  • “They generated so much cash that, over and above increasing the cash they held on their balance sheets, they distributed almost $39bn in dividends to shareholders and spent almost $52bn on stock buybacks. That is about $190bn of cash, dividends and stock buybacks compared to $55bn of investment in the sort of areas that might result in more jobs and increased productivity. Even Intel, which operates in the semiconductor industry — an activity which sucks up more cash than internet and software businesses — spent $7.1bn on dividends and stock buybacks during the first three quarters compared to $7.7bn on capital expenditures.”
  • “If someone makes the argument that the corporate tax cuts are likely to change the spending habits of start-ups or emerging companies, forget about it. Investors from around the world are standing in line waiting to invest in young companies, which have all the cash they need. In addition, since most of these companies are losing money, tax payments are irrelevant.”

WP – The world produces more than 3.5 million tons of waste a day – and that figure is growing – Kadir van Lohuizen 11/21

Markets / Economy

Real Estate

NAR – In Which States Do REALTORS Expect Highest Home Price Growth in the Next 12 Months? 12/5

WSJ – Daily Shot: Moody’s – Changes in US Property Values 2007 – 2016 12/7

Energy

WSJ – Daily Shot: US Crude Oil Production 12/6

WSJ – Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits – Bradley Olson and Lynn Cook 12/7

Finance

WSJ – Daily Shot: Bitcoin 12/6

  • “The cryptocurrency blasted past, $12k, $13k, and $14k in 24 hours.”

WSJ – Daily Shot: Meritocracy Capital – CAPME Chart 12/7

  • “Cyclically adjusted price to median earnings (CAPME) and the percentile rank.”

China

Economist – Chinese cities should stop expelling Chinese migrants – Leaders 11/30

India

Economist – India’s new bankruptcy code takes aim at delinquent tycoons 11/30

  • “Defaulters will no longer be able to cling on to ‘their’ companies.”

Middle East

Economist – How-and why-to end the war in Yemen – Leaders 11/30

  • “A pointless conflict has caused the worst humanitarian crisis in the world.”