It's also anyone's guess what direction it will matter. Will apple miss the boat on AI because it's the real deal? Or is it a bubble that will pop and apple will be left standing because they didn't bet the farm on AI
This seems true at many companies. While I'm not all that impressed by many current leaders, I'm sort of terrified of my generation (younger gen x) taking over because some of them seem to not be prepared or not have been prepared for the roles.
Optimizing costs while producing a safe, reliable, durable vehicle isn't exactly simple and requires an entire supply chain to be in place, not just a single company. Look at how many auto mfgs there are in the world that turn out terrible cars. EVs dramatically lower the parts count which helps but you still a lot of expertise to make a safe, reliable car.
Tesla also has a big Elon problem in that the blue cities where self-driving Taxis will be most profitable may opt for Waymo or boycott Tesla over politics.
> Tesla will solve self-driving and everyone will be left unable to compete. Also, AI is advancing rapidly and will solve all kinds of problems for society.
But apparently it will not solve self-driving for anyone else but Tesla.
I gave up trying to argue with Tesla fans years ago. They are immune to logic which invalidates their priors.
and shorting something priced in a currency is effectively going long on the currency as well. If the USD takes a dive due to, idk, increasing populism from both major parties, stocks will do quite well in nominal terms. Your shorts will burn and you'll end up far worse than just staying in cash.
For most people, the best way to short is to just hold cash equivalents like short-term treasuries.
eg: If you think NVDA is overvalued relative to the overall tech sector, you could short NVDA, go long QQQ.
And if you have a more opinionated trade in the same currency, eg: you think AAPL will be fine if the AI trade pops, you can do short NVDA, long AAPL.
Finally, an even more advanced version would be to go long on something else in the same sector, but which is less overvalued in your opinion. eg: Short ORCL, long NVDA.
Positions are not necessary to be single transaction. They can be multi-step trade.
For global currency risk (meaning on USD), You will have to hedge your shorts with a non currency long position which historically hold value during defaults/ runs etc. Assets like gold (ETFs/Gold bars) or real estate (REITs or physical land holdings) or rights to commodity revenue like oil, copper etc [1].
If the currency risk is not for USD, then mix of other currencies particularly USD would work well as as hedge.
Currency risk is independent of shorting, i.e. it is risk in Long positions as well, current may inflate faster than your position increases in value etc.
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[1] Commodity come with additional shorter term market volatility and risks - due their own supply/demand volatility and depend performance of economy.
However after assets like Gold, they will have highest correlation of returns against inflation as long the economy doesn't completely crash, because the demand for them is foundational
IDK, my team at a FANG has an average tenure of around 7 years and the ones less than that are new hires. I keep getting refresher grants every year. I'm sure this article rings true for some people but not me.
I'm an "old-hand" at a non-FAANG big tech, and have not had a meaningful refresher in a few years, or even a salary bump for that matter. This is a bad time to be looking for a new job, but I should have jumped ship years or even decades ago. I'm sure I'm under-compensated for my level of experience. Don't get caught in this trap like I did.
The job hopping thing was definitely a trend, but I think it died with ZIRP. kinda weird to reference it now, but I guess it does have relevance to the state of some of these older services. The original teams are long gone
Copying Google AI's response here as it's at least as good as what I was going to recall:
> Fever is a key part of the innate immune system, acting as a protective response to infection by raising the body's temperature. This increase in temperature inhibits the growth of many pathogens, enhances the activity of immune cells like leukocytes, and improves the effectiveness of the adaptive immune response.
My Vietnamese in-laws commonly make a sweat tent to shorten the duration of sickness. I can't say if it works, but it's something I intend to try next time I'm sick.
When I feel like I have a virus I usually put on my hoody which I only wear when I feel ill and a scarf and before going to bed I drink a lot of herb or ginger tea (like two cans)
this is will heat up your body and you get some night sweats, this usually helps reducing the sick time.
I can't say if it actually helps, but its become a ritual for that occasion
I wonder how the economics are shifted in China which is dependent on foreign oil but has plenty of (some very dirty, some clean) electricity? I'm sure subsidies are playing a great role(as they do in all things in China) and national security concerns are making EV trucks more viable.
At a macro level, more exports and less imports mean things should be good for their trade balance. Though you might rightfully worry about e.g. debt and other misaligned things in the Chinese economy. They have poor utilization of their production capacity for e.g. batteries.
The Chinese think in terms of expensive and cheap electricity rather than dirty and clean. The reason they have so much clean energy growth is because it's saving them money.
Subsidies are a very political/ideological talking point. But the traditional fossil fuel economy isn't exactly free from subsidies, incentives, tariffs, and other government instruments. The US having a dependence on oil and gas is hard to separate from its huge budgets for incentivizing and protecting that.
The Chinese have been very strategic about their R&D in the last few decades. It's paying off though. Demand for their clean tech exports is increasing and just when oil/gas markets are becoming increasingly volatile they are managing to be less dependent on those.
> The Chinese think in terms of expensive and cheap electricity rather than dirty and clean. The reason they have so much clean energy growth is because it's saving them money.
No. It's for both reasons, cheaper and cleaner. The pollution in cities was absolutely dire and a real health hazard as well as an embarrassment internationally. EVs including scooters and trucks are a large part of the reason the air is cleaner now.
When I was in Wuhan, I talked with an engineer who was having his second child. I asked what he thought about raising kids in such bad air pollution. He said at least it is getting better each year.
> Deepmind gets to work directly with the TPU team to make custom modifications
You don't think Nvidia has field-service engineers and applications engineers with their big customers? Come on man. There is quite a bit of dialogue between the big players and the chipmaker.
They do, but they need to appease a dozen different teams from a dozen different labs, forcing nvidia to take general approaches and/or dictating approaches and pigeonholing labs into using those methods.
Deepmind can do whatever they want, and get the exact hardware to match it. It's a massive advantage when you can discover a bespoke way of running a filter, and you can get a hardware implementation of it without having to share that with any third parties. If OpenAI takes a new find to Nvidia, everyone else using Nvidia chips gets it too.
This ignores the way it often works: Customer comes to NVDA with a problem and NVDA comes up with a solution. This solution now adds value for every customer.
In your example, if OpenAI makes a massive new find they aren't taking it to NVDA.
Nvidia has the advantage of a broad base of customers that gives it a lot of information on what needs work and it tries to quickly respond to those deficiencies.
Whether that is in 2 years or ten is anyone's guess.
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