Fellow AB resident here.... then what do you make of their claim that 99.2% (or whatever the number was) of residents in Sylvan Lake, Drumheller etc signed the petition? Has to be completely fabricated right?
I agree that the most obvious answer is probably correct, and I think that it was a poorly worded statement, however, I haven't seen them correct it yet (doesn't mean they haven't.... just that I haven't seen it).
No they released the feature. The more controversial part was X also announced they’d start a large ban campaign to kill off foreign accounts posting stuff low quality politics memes like this just for money. This got push back as a bunch of big accounts claiming it would create false positive bans and they had legitimate interest in the topics despite not being American etc. I didn’t follow it closely after that but I believe it still led to some foreign accounts being banned, just not at the scale Nikita Bier wanted.
“Just ban them” is admittedly more complicated than it sounds once you think about it. Ie what about Canadians who post about American politics all the time. Or is it just low quality Indian accounts. How do you measure quality. Etc
I get the sentiment that this is unscrupulous, however, isn't 15 days enough time to find the right price? Or will that not really happen until first quarterly earnings report, which will not occur within that 15 day window?
4-8 quarters for most tech IPOs to settle. IPOs are manufactured for the good times around young co's, so not surprising, and economic stability isn't a question of days/weeks/months.
And yes often a falling knife
This is pretty predictably wall street & federal regulators scamming normal people, retirement funds, etc, taking their fees and exit window at everyone else's expense
Mostly by having a pulse for the last 10-20 years as someone in the bay area seeing it repeatedly play out as tech IPOs get dumped onto retail investors repeatedly, including the 'good' ones. Being lucky enough to participate in IPOs makes you check these wrt when to balance IPO pop exit (weeks/months) vs long-term tax benefits of holding (2yr+).
- The initial pop is known to be manufactured by banks, so mostly benefits insiders, so good time to diversify. I'm conservative so sold to cover effective basis or whatever risk strategy :)
- The lockup period (6mo) is a similarly known artificial event, and studies show that
- Tech companies take ~8 quarters of prep for the IPO as they do financial engineering to transition from VC growth-at-all-costs to public $, and I'd expect the same for whatever nonsense they pulled to juice numbers to shake out. And that's not including oddballs like the Musk alternate universe, just normal tech companies covering up EBITDA and low interest rate madness.
- Tech is especially volatile as an industry, so even more skepticism here. Eg, the latest IPO I was involved in was a successful professional social network play, and chatgpt killed it.
? Very much agreed, the IPO pop is a manufactured pricing event focused on investor dynamics rather than direct fair market pricing, making it more of a gamble than normal. Including gambles in index funds defeats the point.
Maybe the confusing point was my involvement is (discounted) pre-IPO shares, which almost by definition, is not an activity accessible to retail investors.
Perhaps the attacker says that they email was also hacked and "this is my new email now". It sounds like this was a result of AI support and not a real person "And if you're part of the A/B tested accounts on which the AI support option is active, tough luck, you can't even turn it off."
It's probably a bit more nuanced then that. You have to look at the people that use Tiktok... are they generally more left or right? I don't know the answer. I would have said they are younger and therefore more left leaning, however, I think that's becoming less and less true.
Education was abandoned. And as people who are old enough know perfectly well, since this show has been played before: uneducated young people are largely extreme-right.
Prof G Markets podcast just had an episode on this with Ray Madoff. They talk about the claim that "the top 1% of Americans pay 40% of the income tax". But Ray points out that is misleading because the 1% is basically lawyers, physicians, accountants etc that make like $500,000/yr. These people still pay income tax and that's the group paying 40% of income tax. What that claim misses is the 0.1% that pay 0 income tax because they have no income. The claim makes people believe that the billionaires are the ones paying that huge sum but we fail to realize that the 1% is our neighbours, not just the billionaires flying private jets across the world.
$0 just feels like a concept -- I can imagine a really high quality structuring exercise that gets tax low by making sure leverage on capital is what's used for spending, but I'd be really surprised to see a 0.1%-er (or 0.001%-er) post $0 income tax. For one, it's disadvantageous for certain kinds of bank interactions. But also, capital calls come in, investments that are made often require a step-up in basis, leverage is taken out on assets that require a margin call or a sale, there are alternative tax regimes, the corporations that are owned by these parties have their own tax burdens..
To say the wealthy can afford to radically optimize taxes and that our system taxes capital much more lightly than labor seems accurate to me, but I just haven't seen offers for "pay zero tax for all your life" from high grade professionals.
If US citizens want that, they generally give up their citizenship, pay their exit tax, and live in a low tax jurisdiction. I do know people like this, and they are very unlike the 0.1% types you're referring to here, and they've given up the benefits of being a US citizen in exchange for their preferred lifestyle. (And paid a mark to market exit tax on all assets on their way out of the country)
> Consider Bezos’ 2007, one of the years he paid zero in federal income taxes. Amazon’s stock more than doubled. Bezos’ fortune leapt $3.8 billion, according to Forbes, whose wealth estimates are widely cited. How did a person enjoying that sort of wealth explosion end up paying no income tax?
Or the President (now permanently immune from audit, incidentally):
Yeah and he lost money for a decade or more. Blame the system that you can loss harvest. Or call it fair that we don’t penalise business for having bad years.
"Consistent with this long tradition of respect for minorities, which is at least as old as Canada itself, the framers of the Constitution Act, 1982 included in s. 35 explicit protection for existing aboriginal and treaty rights, and in s. 25, a non-derogation clause in favour of the rights of aboriginal peoples. The "promise" of s. 35, as it was termed in R. v. Sparrow, [1990] 1 S.C.R. 1075, at p. 1083, recognized not only the ancient occupation of land by aboriginal peoples, but their contribution to the building of Canada, and the special commitments made to them by successive governments. The protection of these rights, so recently and arduously achieved, whether looked at in their own right or as part of the larger concern with minorities, reflects an important underlying constitutional value."
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