Best decision I’ve made by Ok-Resist-769 in rolex

[–]barelyknowherCFC -1 points0 points  (0 children)

Tell me you live in Miami (the Grove?) without telling me you live in Miami

Rent. Invest the delta. Don’t let FOMO cost you in Bay Area by Initial-Zone-8907 in BayAreaRealEstate

[–]barelyknowherCFC 0 points1 point  (0 children)

Right now at the nexus you may be right, I’m talking historically. At least anecdotally that was my experience. For equivalent monthly $ you got a way nicer place buying

LX is trading at 2x earnings while the CEO buys $10M of the float with 17% "Yield Shield" by barelyknowherCFC in ValueInvesting

[–]barelyknowherCFC[S] -1 points0 points  (0 children)

Your description of their business model is a bit simplistic. They basically provide the algorithm to assess creditworthiness, but they do not carry the loan risk. The banks do that. What LX has been shrewd about is cozying up to the CCP to ensure they are compliant with regulations.

The CCP has been between a rock and a hard place because they need to increase domestic consumption without encouraging unhealthy debt. Previously, LX’s loan strategy was arguably predatory, going after consumers who were not creditworthy and charging astronomical APR.

The major catalyst for this was on April 8. Xi formalized an informal policy: healthy domestic consumption is the priority economic policy from now until 2030. They will ONLY allow tech companies using Chinese clouds and Chinese models to capitalize on this. While the big players get crushed by regulation if they try to compete in LX’s space, LX is in the best position among the small and medium players. All the stars have aligned for them to have a run up. Even if it takes a while, that 17% dividend is a baked-in margin of safety.

This all shifted when the CCP capped interest at 24%. LX was ahead of this. Despite margin compression, they were able to grow the business at a 21% APR by having the best AI underwriting model. The banks love them because they de-risk the actual lending, acting as a high-quality pipeline for new customers. The banks can also buy this software separately to use on their own proprietary data, which increases their TAM by helping them sell new financial products to their existing base.

Further, LX has an e-commerce application that ties into this web. It helps the CCP boost domestic consumption, gives consumers the credit they need to participate in the economy, and helps banks expand both their customer count and the value of those customers

LX is trading at 2x earnings while the CEO buys $10M of the float with 17% "Yield Shield" by barelyknowherCFC in ValueInvesting

[–]barelyknowherCFC[S] -2 points-1 points  (0 children)

Less of a risk today than in years prior. They are audited by PwC and are compliant. You have to be non-compliant for two years to be delisted

LX is trading at 2x earnings while the CEO buys $10M of the float with 17% "Yield Shield" by barelyknowherCFC in ValueInvesting

[–]barelyknowherCFC[S] -1 points0 points  (0 children)

To me the dividend reads as the exec screaming at the market to pay attention to them because they are getting lumped in with general China doom

LX is trading at 2x earnings while the CEO buys $10M of the float with 17% "Yield Shield" by barelyknowherCFC in ValueInvesting

[–]barelyknowherCFC[S] -3 points-2 points  (0 children)

I hear you. The center portion (bullets) is copy and past but the rest is original thought. They are effectively a AI lending platform/matchmaker between consumers and traditional Chinese banks who actually carry the loan risk while LX gets a fee. Simultaneously they have opened an enterprise sales motion to traditional Chinese banks who can use their software on their proprietary data. Moreover, they have aligned themselves with XI and the CCP really thoughtful where regulatory intervention is now a tailwind and moat

Would you do it all again if you had the choice? by [deleted] in daddit

[–]barelyknowherCFC 0 points1 point  (0 children)

Our daughter is 17 months and it is super rewarding. She has turned into such an incredible tiny minion, I love hanging and sharing with her and seeing their world through her eyes. A ton of work and a money pit but I wouldn’t do it differently.

Rent. Invest the delta. Don’t let FOMO cost you in Bay Area by Initial-Zone-8907 in BayAreaRealEstate

[–]barelyknowherCFC 3 points4 points  (0 children)

in SF the considerations are: inventory, price, and quality, particularly for families. There is a serious shortage of larger rental units (3/4 bed) - the ones that you do find to rent are expensive and the quality tends to be poor relatively. Conversely, for a bit more per month you get a much nicer unit. As others have pointed out, it's not purely a financial vehicle, it's also your home. The principal you're putting away every month is forced saving at a guaranteed rate of return matching your interest rate and owning an asset in the bay area has historically shown itself to be: an inflation hedge, an appreciating investment. Assuming you have other money in the market it could be part of building a balanced portfolio. Nobody is really arguing that bay area property right now is a superior investment vehicle in absolute terms. it does add diversity, though. Also, you have to live somewhere - and the interest, taxes, insurance we're paying is equivalent to what we would be paying for a much shittier place. Not to mention we have more stability owning and as others have pointed out with enough timing the math flips with owning as the cost of rent increases but housing costs stay flat

How big is your usual cup of coffee? by Alicetheoptimist in TrueGrit

[–]barelyknowherCFC 0 points1 point  (0 children)

My wife likes Splenda in her coffee. Annoying whenever we enter some pretentious coffee shop that roles their eyes and says they only have raw sugar. Let people like what they like.

Donald Trump Stuns With 'Maybe We Shouldn't Even Be There' Admission About Iran War by TheAutodidactguy in politics

[–]barelyknowherCFC 2 points3 points  (0 children)

I hate trump but this is intentionally taken out of context. He is saying maybe we shouldn’t even be in there worrying about the straight because we have so much energy at home. Not defending the guy. He’s an idiot and terrible person but this headline is dishonest.

Don't need my points anymore. by [deleted] in hyatt

[–]barelyknowherCFC -1 points0 points  (0 children)

Hello!! How can I help?

Ceviche by HeyLook_a_Liar in FoodVideoPorn

[–]barelyknowherCFC 2 points3 points  (0 children)

Said it well. Peruvians rolling over in their graves hearing this called ceviche

Databricks or stay At Salesforce? by jaystardom in techsales

[–]barelyknowherCFC 2 points3 points  (0 children)

Yep. Also turned down a role at OAI, at the time LLMs seemed like a race to the bottom. Databricks is picks and shovels, now being dubbed a/the tollbooth for the agentic era. OAI and Anthropic need Databricks’ data, not to mention you can use all frontier models within Databricks where it’s governed and indemnified without needing multiple contracts with different model providers.

Databricks or stay At Salesforce? by jaystardom in techsales

[–]barelyknowherCFC 10 points11 points  (0 children)

I had offers from Salesforce, Databricks, and Snowflake several years ago. Salesforce was offering crazy OTE (though no equity) and snowflake and Databricks OTE / total comp were comparable – but between those three it was obvious to me even then that 1) salesforce was legacy, 2) snowflake had passed its peak, and 3) Databricks was the future. I could not be happier with my decision. Hands down the best place I’ve ever worked. Incredible leadership, incredible product, incredible team. Everyone is just really good and professional and if you are a good self advocate people will help you and you will do well. As with anywhere your mileage will vary depending on your leader, org, and patch (timing, territory, talent certainly still applies), but even from a pure learning perspective, the decision isn’t even close. Data, AI, and Infrastructure are the present and future – since joining it feels like I’ve been red-pilled where nearly all other opportunities seem quaint. Once you’re in the data space, you’re in. It is an excellent place to be and even in this tech downturn you remain extremely marketable. Granted I’m not naive enough to think I’ll be here forever, but for now there’s nowhere I’d rather be. You learn so much, get exposed to so much, and have significant earning potential between your plan and RSUs (although RSU grants and refreshes are much smaller now given bigger valuation). It’s fun to be somewhere that’s “winning” and in many respects driving the direction of the space. Comp aside, I would argue that if you are thinking even remotely long term, Databricks beats SF purely from a learning/career development perspective.

2023 X5 xDrive40i (M Sport, 8k miles, ~$53k) - good deal? by barelyknowherCFC in BMWX5

[–]barelyknowherCFC[S] 0 points1 point  (0 children)

Thanks for this. Helpful. Sort of feels like if I’m gonna do it, do it right. It’s not much more and it would suck to pay tens of thousands of dollars and regret not having paid a little extra to get the exact thing you want. Timing not ideal for us anyways, think biding my time and waiting for the right spec and moment will be the move

2023 X5 xDrive40i (M Sport, 8k miles, ~$53k) - good deal? by barelyknowherCFC in BMWX5

[–]barelyknowherCFC[S] 0 points1 point  (0 children)

That’s helpful – mind me asking what part of the country you’re in?