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Cake day: June 29th, 2023

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  • I found out that the best way to force Google Maps to update is to make the correct edit in Open Street Maps. Google seems to source its local information from there.

    Just an anecdotal example: I live at the end of a cul-de-sac, and I’ve seen loads of cars drive up to my house, and then gingerly do a 15-point turn (the road is very narrow), and drive back. I checked Google Maps and found that it lists my street as open. I’ve filled reports with Google several times, and nothing happened. Then, I updated OSM to indicate that at the end of my street there’s just a pedestrian footpath to the next street. Within two weeks, the number of cars turning around decreased drastically. I checked Google Maps, and found that they fixed their map. A few years later, there’s still the odd car making the mistake, but the only map service I could identify that still didn’t update was Apple Maps.

    Since then, I’ve done several edits in OSM (I live in a young estate, with loads of construction still going on, so maps are not very reliable), and Google always picked up these edits.







  • I used to work as a financial analyst on Wall Street, and even after I changed careers I invested on my own, roughly following Buffet’s strategy. My annual returns averaged 22%, but given the little starting capital ($2000), I cashed out with just enough for a large downpayment on my house.

    Anyway, just a very short primer on how Buffet is investing. He’s a student of Benjamin Graham who wrote the highly influential The Intelligent Investor. There, Graham outlined the most basic fundamental strategy: buy stock in companies where market cap is below book value and hold long-term, until stock catches up. Obviously, that’s hardly feasible in today’s markets, but there are still stocks that you won’t realize they are undervalued until you research the shit out of the companies. Not stocks, but companies. The former, technical investing, has been in vogue since at least the 90s, while the latter is the old school fundamental approach of actually calculating the stock’s underlying value and its growth potential.

    Where it all comes together is portfolio building. The conventional theory is to have around 30 stocks to minimize volatility. Buffet’s approach is to maximize upward potential by having fewer stocks (around 10), while minimizing risks by researching and fully understanding companies he invests in. This ranges from understanding financials and operations to analizing the company’s management. Buffet is known for keeping the management of an acquired company in place and not interfering with their decisions because he wouldn’t invest into a company where he wouldn’t trust the management in the first place.

    Of course, I didn’t have the means for investing enough to have any influence on the company or market, so I had to really dig into the fundamentals and hope the market would eventually realize the value of the company. It worked for me, as long as I stuck to companies whose business model I could understand. So, I missed loads of winners from the tech sector, but I’ve had a steady above-market return, and that was good enough for me. I followed the advice from the book On Investing by John Neff, which I can fully recommend, if it’s still in print.










  • I’m close to 50, been running for decades, and still pull over 2k miles annually. Almost all that on asphalt. Haven’t experienced any joint problems yet. I credit three things for that. First, modern running shoes are designed to soften the impact, and recently they have gotten ridiculously soft. The extreme cases give you 50mm (about 2 inches) of soft foam under your feet, but even more normal running shoes have advanced foam and bouncy elements in the outsole to soften the impact. Second, proper running form is not rocket science, and most people fall into a decent running form naturally. This form is the most gentle on the joints. And finally, if you are serious enough about running to go the distance where hard surfaces could be a problem, you are already likely to supplement your running with strength training, which further helps to protect your joints.



  • Having worked in business incubation at a research university, helping researchers find angel investors, I’d like to throw in my two cents:

    First of all, the article runs headlong into survivorship bias. For each Bezos or Gates, there are thousands of entrepreneurs with financial backing that went bust. And the vast majority of those who didn’t were acquired by larger, established companies before they could even hit the news (in my area, the ideal exit strategy was said to be acquired by Cisco, rather than an IPO). Many of these startups had even more initial backing by the three f’s (family, friends and fools).

    Now, let’s look at those who didn’t have financial backing. For such people, there are angel investors. As others in this thread pointed out, one needs to have good connections to find such investors. Good connections are available in most, if not all, research universities, via their business incubators. Universities, however, will retain part ownership of the company (licensing any research or technology back to the entrepreneur), and they are still thinking in the medium term. They are not looking for unicorns, but a steady stream of revenue, so their preferred exit strategy is indeed the acquisition. I’m certain that the very few poorer entrepreneurs who’d strike it rich in IPO were pressured into selling their company. That’s why you don’t see any examples of a company truly being pulled out of nothing. And don’t get me even started at the wasted opportunities where the professor didn’t sign the research licensing papers because he’d make a comfortable living keeping the research at the university…

    Point of this is that it will be statistically likely that we’ll get a few super-rich entrepreneurs, and they’ll come mainly from backgrounds where they could secure seed financing. That does not mean they didn’t work very hard with the money they were given.