Diven Sharma

Founder, East Green PMS | Indian Equities

[Diven Sharma @divensharma]

In investing, market regime >> sectoral and thematic trends >> stock picking.

Even the best boats struggle against headwinds.

[Prabhakar Kudva @prabhakarkudva]

Given our scale and capabilities vs rest of the emerging world - it’s so easy for India to attract huge capital.

Capital is just waiting for the right incentives to gush in. All we need is reforms to attract capital. What we lose in the short term we probably make up multiples in the long term.

Just few examples :

1. Tax cut on data centres - billions flowing in.

2. FII debt taxation and withholding fixed - billions flowing into Indian debt

3. GST cuts - Demand explosion in autos and auto ancillaries

4. PLI - explosion in manufacturing demand both local and global led.

India just needs the right incentives to be provided, we have the capability to execute and attract and absorb large capital that’s waiting on the sidelines.

[Saul Sadka @Saul_Sadka]

No, but if Qatar had a GDP per capita (PPP) of $5,000 instead of $118,500, there would be a lot less Islamism in the world.

[Dan Burmawi @DanBurmawy]

If I were a college professor who thought his intellect was peerless, yet I made 90k a year while entrepreneurs far less brilliant than me made millions, I would hate capitalism too, and I would indoctrinate generation after generation to hate the system and tear it down.

Communism takes hold in America for exactly this reason: these failed intellectuals are eaten by envy, and yet they control the schools.

[This Week in AI @thisweekinai_]

https://t.co/bAnkDFG8na

[This Week in AI @thisweekinai_]

@ChShersh Tis always was, tis will be

https://t.co/qDlwgldNML

[Vishal Bhargava @VishalBhargava5]

DINK’s are doing it wrong. Andhra Pradesh is now doing it wrong. Hope other states don’t follow.
The incentive should be in the form of tax benefits - like Indonesia does it. This will encourage our best earning population to have more children.

[Shubham Mishra @brahma_4u]

The hype about Indian manufacturing is wrong.

We are underestimating it instead I guess.

India did $10 billion in electronics in 2014 and is doing north of $115 billion now.

iPhones went from a rounding error to 14% of global production in five years. None of that is Atmanirbhar headline material it's vendor base accretion, tooling shops getting better, embedded engineers finally learning what tolerance means at volume.

China didn't become China in 2015.
They became China between 2003 and 2018, and most of those years looked exactly like this boring, derivative, "they're just assembling."

We're somewhere around year 6 of the same curve.

The 50 GWh ACC PLI won't make us a battery superpower.

The 200 component vendors quietly getting good enough to supply Foxconn while it's here will.

The real story isn't on the press release.

It's in the Tier-3 shop in Hosur that finally figured out how to hold ±50 microns on a stamping :)

Or maybe a shed in Rajkot, where the technician is figuring out composite enclosure fitment.

[Samir Arora @Iamsamirarora]

what this article shows is how wrong the FIIs can be. When they thought India was the only game in town in 2 yrs it was not- now they think other countries are the only game in town so...

Reality is that India disappoints both the optimists and the pessimists.

There is a lot of value in the FII world for a country that can structurally grow earnings at 10-15% p.a. provided those returns are not lost to (as distinct from global practice) taxes and steep depreciation.

[This Week in AI @thisweekinai_]

An Optimistic , Anti-Citrini take on AI
AI is rewriting the rules of work, markets, and innovation. White-collar layoffs? Ghost GDP? Abundance paradox? Let’s break it down.

TL;DR:
1️⃣ Abundance sparks innovation
2️⃣ Human-in-the-loop is a bug.
3️⃣ White-collar layoffs are overstated.
4️⃣ Ghost GDP misses new opportunities.
5️⃣ AI creates markets, not crises.
Dive deeper: (https://t.co/QvooCpoAtU)

[Sanjeev Bikhchandani @sbikh]

Ah - the fallacy of the inapt analogy. GDP is a flow variable. Market Cap is a stock variable. GDP is national income. Market cap is the aggregate value of all the shares of a company. You don’t compare a stock variable to a flow variable - apples and oranges. It’s a bit like someone saying “My house is worth more than your annual salary so I am better off than you”. If you want to compare Google to India then compare Googles revenue to India’s national income. Googles revenue is USD 400 bill. Its market cap is roughly 10x of that which is approx. USD 4 trillion. If countries could be listed and have a market cap then applying the same multiple India’s market cap would be USD 40 trillion around 10x of it’s GDP

[Douglas A. Boneparth @dougboneparth]

Child: Dad, can I have $75,000? I want to buy a bitcoin.

Dad: $73,000!? Where am I going to get $70,000. Do you think I have $68,000 just lying around? You gotta work hard to make $65,000.

[Roko 🐉 @RokoMijic]

A Wireheader's Apostasy

If you really understand philosophy of mind it is clear that David Pearce's quest to end suffering is misguided at a logical level and also at an ethical level.

Suffering is what negative feedback feels like from the inside.

You can't end suffering without ending negative feedback. There can't be a clever technical fix for this, because the suffering is the negative feedback in the same way that a rainbow is sunlight reflecting off water droplets.

You can't run a brain on "gradients of bliss" and have it feel blissful all the time but also produce the same distribution of outputs across all environments because feeling blissful occasionally serves a function and that function is not supposed to be on all the time - you become a wirehead.

Feeling slightly less blissful will simply not motivate you to move your hand off a burning hot plate the way the burn qualia will.

This is borne out empirically when you look at people born without pain receptors: they break all their bones, burn themselves, bite their own tongues off, and often die young.

People who take drugs stop doing normal-person things, they turn into zombies who just seek the drug and nothing else. Why? Because the drug is a massive, artificial superstimulus of all positive reward signals that your brain's reward architecture is not designed to handle. It drowns out the subtler reward signals you get from smelling a nice flower or having a social event with friends, so you stop doing those things. This is probably why homelessness and drug addiction go hand-in-hand - if you are homeless, it's hard to fix your life and get positive feedback from normal life stimuli, so you start taking drugs to feel something. But once you are on drugs, the reward of the drug is so much bigger than the reward you could get from a normal life activity that it's not that compelling to give up drugs for those activities.

It's also deeply immoral to try to turn off all negative feedback, because doing so will turn the world into a sh!thole. I would even include things like political correctness in this, as I think that is best thought of as a form of collective social wireheading.

It is actually a really good thing that sick people suffer terribly. It is good that death is often painful and frightening. It is good that romantic rejection stings and makes us feel bad about ourselves.

Why? Because if these negative events didn't come with negative qualia, we would not be motivated to avoid them.

To be a true transhumanist you must not ask to suffer less, you must ask to suffer more accurately, to be punished more when you fail to live up to your goals and to feel a sweeter reward when you do. And to be a true humanist you must embrace suffering as a force for good in the right circumstances.

[Diven Sharma @divensharma]

Macaulay's child is defending him, not unexpected!

[Sadanand Dhume @dhume]

In India, critics of the 19th century statesman Thomas Macaulay portray him as some kind of cartoon villain out to destroy India. In reality, he was a brilliant man who wished Indians well. [My take] v @WSJopinion
https://t.co/Ch1Xx9X4M1

[Diven Sharma @divensharma]

Chinese don't need to know, they will be the cause or at least accelerators of that something big

[Spencer Hakimian @SpencerHakimian]

China knows something very big is about to happen.

[Diven Sharma @divensharma]

There are 7 different levels of wealth:

> Rich
> NYC rich
> SF / Silicon Valley rich
> Chinese rich
> Middle East oil rich
> Despots
> Indian politicians

[Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA]

There are 5 different levels of wealth:

> Rich
> NYC rich
> SF / Silicon Valley rich
> Chinese rich
> Middle East oil rich

[Diven Sharma @divensharma]

@VishalBhargava5 @RahulChels It's not a bug, it's a feature. Need to keep the gravy train going!

[Diven Sharma @divensharma]

@SridharanAnand you mean Sabeer Bhatia?😃

[Derek J. Grossman @DerekJGrossman]

When you aren’t at the dinner table, you’re on the menu.

[Diven Sharma @divensharma]

In Godfather, Vito tells Michael: Whoever comes to you with this Barzini meeting, he's the traitor. There are always signs!

[Saket Gokhale @SaketGokhale]

Classic case of ignorance (and I don’t mean Navarro)

Peter Navarro is from Cambridge, MA. In New England (esp Boston & around where he’s from), the term “Brahmin” is used for someone that’s extremely rich

BJP “ecosystem” spokespersons should start reading some real books 🙄

[Diven Sharma @divensharma]

I hope these guys are at least getting paid!

[Sagarika Ghose @sagarikaghose]

“Boston Brahmin” was once a widely used term in the US to refer to the American New England wealthy elite. “Brahmin” is still a term used in the English speaking world to denote social or economic “elites” ( in this case the rich). The illiteracy on X is astonishing.