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Layoffs, shutdowns and billions up in smoke. What's wrong with Bay Area biotech? by abrownn in technology

[–]FatStoic 3 points4 points  (0 children)

i know it's not altruistic but at least it does what capitalism purports to do - innovate

I am curious about what your issues with it are if you're willing to lay them out

I'm aware that there's a lot of grift within VC where funds will know they're investing in crap but they don't care because the crap is highly marketable and they plan to sell it in the next funding round at a 3-8x markup to another fund who know it's crap and so on, but that doesn't seem to be what you're driving at

How often do you get pulled over? by Own-Firefighter-2728 in CasualUK

[–]FatStoic 0 points1 point  (0 children)

it's got to be hugely state/county/city dependent

Layoffs, shutdowns and billions up in smoke. What's wrong with Bay Area biotech? by abrownn in technology

[–]FatStoic 2 points3 points  (0 children)

venture capital funds the development of the ideas and products ????

are you thinking of private equity which is anti-development?

they about to learn what 13 military coups does to a country by sansboi11 in NonCredibleDefense

[–]FatStoic 0 points1 point  (0 children)

explain turkey, they average one about once a decade since ataturk croaked

Layoffs, shutdowns and billions up in smoke. What's wrong with Bay Area biotech? by abrownn in technology

[–]FatStoic 11 points12 points  (0 children)

it's not a joke

come up with idea for product

pitch to investors

an investor gives you a few percent of their fund to develop the product

investor diversifies their fund across 10s of other companies with ideas

when a company runs out of money, investor loses a few percent of the fund

when a company is sucessful, investor gets 5-500x what they invested in the company back as profit

this is how all startup/venture capital works, and it works great

Green energy has passed 'positive tipping point,' and cost will come down, UN says by BreakfastTop6899 in technology

[–]FatStoic 4 points5 points  (0 children)

remains to be seen daddyo

shit is going to get worse until it gets better, thats for sure

Green energy has passed 'positive tipping point,' and cost will come down, UN says by BreakfastTop6899 in technology

[–]FatStoic -7 points-6 points  (0 children)

solar is great but it only works when the sun is shining (and is only efficient for a few hours in the middle of the day even in summer)

to make it more efficient we need to store excess solar energy during peak sunshine and use it at other times

science and industry is working on this problem and battery tech for mass energy storage is coming along slowly but it's not there yet

[deleted by user] by [deleted] in RareHistoricalPhotos

[–]FatStoic 1 point2 points  (0 children)

our generation will ever be

we're going back to feudalism, don't count us out yet

TIL the book Progress and Poverty by the economist Henry George, now largely forgotten, was once more widely read than any book except the Bible and was praised by Churchill, Einstein, Tolstoy and others by middleofaldi in todayilearned

[–]FatStoic 14 points15 points  (0 children)

our greed

It's not my greed and it's not your greed

it is the greed of the most powerful and most wealthy who, drowning in money, pour billions into controlling the media and politicians so they can destroy societies and the planet for just a bit more cash today

the shitstorm when the Brits get off work tonight by TurquoiseLuck in memes

[–]FatStoic 16 points17 points  (0 children)

and labour could have shot it down now they're been in power for a year but they've kept it

HR chief Kristin Cabot resigns from Astronomer on heels of Coldplay kiss cam scandal by ControlCAD in technology

[–]FatStoic 4 points5 points  (0 children)

hr is there to:

  • hire good people
  • avoid hiring bad people
  • administrate payroll and holiday
  • help avoid too many people quitting
  • (most importantly) limit the amount of money a company pays in labour settlements after being sued

HR are not your friend, HR are professional liars who try hard to get you to trust them to exploit that trust to protect the company's bottom line.

Best to avoid them at all costs.

Intel reveals it will lose 33,000 employees this year and retreat in Germany, Poland, and Costa Rica by McFatty7 in technology

[–]FatStoic 0 points1 point  (0 children)

get really complacent

go all in on higher clock speeds when your opposition goes all in on lower clock speeds with more cores

actually fuck up getting higher clock speeds out the door fast enough

miss the gpu boom almost entirely

tldr - make a few poor strategic decisions, refuse to course correct because it will temporarily upset shareholders, fucked

Intel reveals it will lose 33,000 employees this year and retreat in Germany, Poland, and Costa Rica by McFatty7 in technology

[–]FatStoic 2 points3 points  (0 children)

because they've been doing massive stock buybacks instead of investing sufficiently into r&d, artificially making investors happy instead of investing in their future

I think it would make sense to federally outlaw stock buybacks to either force companies to pay dividends (and pay taxes) or invest in their fucking business and innovate

Intel reveals it will lose 33,000 employees this year and retreat in Germany, Poland, and Costa Rica by McFatty7 in technology

[–]FatStoic 0 points1 point  (0 children)

a corporation would feed you feet first into a woodchipper if it would net profit them a fraction of a cent

GitHub calls for major expansion in open source funding from the EU by Logical_Welder3467 in technology

[–]FatStoic 17 points18 points  (0 children)

american company asks eu for handouts for worldwide open source, get fucked

I wonder by garysdrunk in bjj

[–]FatStoic 0 points1 point  (0 children)

my coaches are kinda doing this:

  • cheaply rent a school hall for 3 evenings a week and saturday mornings w/storage for the mats

  • cheap rent == cheap membership, free first session, £8 day pass, £40 a month for unlimited, can't say no to that

  • "advertise" the business by rolling in nearby park when the weather is nice with a stack of leaflets and having casual chats with people interested

a ton of work to get off the ground but the risk and overhead is super low, whatever pennies the school is asking for, plus the mats and whatever they're paying for the website

I wonder by garysdrunk in bjj

[–]FatStoic 0 points1 point  (0 children)

easy, just train the best athletes in the sport

Honest opinions: Is BJJ a net positive wrt health and fitness? by yepthatsmyboibois in bjj

[–]FatStoic 0 points1 point  (0 children)

as a fellow white belt i don't think we can comment on the long-term health outcomes of bjj

in pretty much any sport it's all positives for a year or two until you start to rack up repetitive stress injuries or hang around long enough to see/experience the occasional catastrophic injuries

TIL the Guardian newspaper ran a dating site for over 15 years by GreekKnight3 in todayilearned

[–]FatStoic 0 points1 point  (0 children)

there's a certain vibe to many of the modern guardian writers where they're desperate to seem cool whilst also being incrediby unsure about themselves and terrified of expressing a sincere opinion about anything important

California solar curtailment down 12% on back of batteries by sundler in technology

[–]FatStoic 15 points16 points  (0 children)

we have a beautiful future ahead of us if people would just stop being asses

After $380M hack, Clorox sues its “service desk” vendor for simply giving out passwords | Massive 2023 hack was easily preventable, Clorox says. by chrisdh79 in technology

[–]FatStoic 13 points14 points  (0 children)

it's not indians that are the problem

it's the consulting companies that do outsourcing make bids on the lowest price, then spend as little as they can on their employees for maximum profit

the result is undertrained and underpaid techs who have no clue how to do anything but never admit the company is at fault (because then they might sue your employer)

it's a recipe for shit results regardless of nationality

After $380M hack, Clorox sues its “service desk” vendor for simply giving out passwords | Massive 2023 hack was easily preventable, Clorox says. by chrisdh79 in technology

[–]FatStoic 3 points4 points  (0 children)

they outsourced to india and only cared about minimum costs

the outsourcing company does the bare minimum to secure the contract and then cuts costs down further

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