jaden

diligence @ Outlander Capital // views are my own // attorney and finance nerd // not legal or financial advice

[jaden @jadenwarren]

@peterfuller23 LAUNCH

[jaden @jadenwarren]

@BillAckman @elonmusk @SpaceX @SECGov @Tesla You mention several times there are no fees—what is the benefit of this transaction for Pershing Square?

[jaden @jadenwarren]

@neilksethi Thank yo ufor all the amazing data you post—I'm learning so much from it. How does this flow correspond to market prices?

[jaden @jadenwarren]

@nicochristie would love a code!

[jaden @jadenwarren]

@0xblacklight i’ve used a pod 4 for about a year now and love it! solves the hot/cold sleeping dilemma with a partner, and i fall asleep a good bit faster due to the temp. the sleep tracking doesn’t work as well as a watch or ring though.

[Jay Parsons @jayparsons]

*UPDATED* (and still true)

When you build "luxury" new apartments in big numbers, the influx of supply puts downward pressure on rents at all price points -- even in the lowest-priced Class C rentals. Here's evidence of that happening right now:

There are 21 U.S. markets where Class C rents are falling at least 4% YoY. What is the common denominator? You guessed it: Supply. Of those, all but one have supply expansion rates ABOVE the U.S. average.

There's no demand issue in any of these 12 markets. They're all among the absorption leaders nationally -- places like Austin, Phoenix, Salt Lake City, Raleigh/Durham, Atlanta, Tampa, Dallas, Charlotte, Orlando, etc. But they all have a lot of new supply.

Simply put: Supply is doing what it's supposed to do when we build A LOT of apartments. It's a process academics call "filtering." New pricey apartments are pulling up higher-income renters out of moderately priced Class B units, which in turn cut rents to lure Class C renters, and on down the line it goes.

Less anyone still in doubt, here's another factoid: Where are Class C rents growing most? You guessed it (I hope!) -- in markets with little new supply. Class C rent growth topped 4% in 22 of the nation's 150 largest metro areas, and nearly all of them have limited new apartment supply.

Most new construction tends to be Class A "luxury" because that's what pencils out due to high cost of everything from land to labor to materials to impact fees to insurance to taxes, etc.

So critics will say: "We don't need more luxury apartments!"

Yes, you do. Because when you build "luxury" apartments at scale, you will put downward pressure on rents at all price points.

Spread the word.

[Sahil Bloom @SahilBloom]

Things you can do to change your life:

[Lawrence H. Summers @LHSummers]

In new NBER paper with @MA_Bolhuis, @juddcramer and Oskar Shulz, we argue that the unprecedented increase in borrowing costs is crucial to explaining the low consumer sentiment of the last two years. 1/N
https://t.co/4CF4xVTlHv

[jaden @jadenwarren]

@skullnbonesgame also, the speed debuff during helm wager and cutthroat cargo is very frustrating—keep players on an equal playing field!

[jaden @jadenwarren]

@skullnbonesgame Ambushers (both Rogue and Plague) appear too frequently. the Rogue ships appear to do more (and far too much damage), while taking far less than before.

in addition to nerfing strength (and spawn frequency) of the Ambushers, allow interaction w/ Manufactory during Ambush combat

[CarSalesGuy @carsales_guy]

The automotive industry is going through its version of the “Quartz Crisis. ”

What was the quartz crisis?

In the 1970s, mechanical watches were becoming obsolete in the eye of the consumer with the advent of the quartz movement watch.

The quartz movement was cheaper, more accurate, and easier to manufacture than the mechanical movement.

The quartz watch led to a decline in mechanical watch market share, with its significant companies facing massive financial struggles and even bankruptcy.

The result?

The consumer benefited from an objectively better product that became ubiquitous and available to all with the mass adoption of the quartz movement.

However, the timepiece aficionados also benefited from a refined, focused, and celebrated mechanical watch at every price point.

Win/win

IMO, automotive will go through the same process, with EVs going mass market and becoming superior in every facet compared to an ICE vehicle.

But, for those who care, there will be specialized ICE products that will still thrill and provide all the tactile and analog driving experiences you could ever want.

If you love cars, the future is bright.

[jaden @jadenwarren]

just saw an ad for Comerica coworking spaces. without research, are they:
a) making the most of office leases after WFH reduced their needs
b) salvaging repossessed offices after loan defaults, or
c) tryna get that sweet WeWork-esque tech company valuation multiple

[jaden @jadenwarren]

@sonalibasak you mention that "learning how to parse NAIC regulatory filings, where insurers are required to disclose their holdings, as well as an understanding of capital rules and the finer details of loan origination" would be helpful. what are some resources you'd recommend to do so?

[jaden @jadenwarren]

@LateNightAutos thank you for explaining! i didn't realize the cap only applied to purchases, that's intriguing.

[jaden @jadenwarren]

10/ Want to learn about this in more detail and read an in-depth example? Check out my post on Substack below:
https://t.co/xQX4yTGJKT

[jaden @jadenwarren]

8/ Infrastructure surrounding a product can make an otherwise good product bad. For instance, poor UIs in the crypto world, or frequently broken (non-Tesla) EV chargers. Address this by choosing products with good infrastructure, or invest in the surrounding infrastructure

[jaden @jadenwarren]

9/ Key Takeaways:

• Consider all costs, not just gross margins.
• Carefully estimate indirect and probabilistic costs. Adjust your assumptions as you get more data
• Address causes of probabilistic costs—educate customers and invest in quality accompanying infrastructure.

[jaden @jadenwarren]

7/ Clearly educating against misuse reduces the odds of a customer creating a self-induced problem, where the company is technically in the right, but good customer service dictates taking care of the problem regardless. This can be costly

[jaden @jadenwarren]

6/ Educating customers on what to expect from your product and how to use it reduces the time spent on troubleshooting, and the rate of dissatisfied returns

[jaden @jadenwarren]

5/ Probabilistic costs are tricky to forecast but crucial to understand. Lack of customer education, product misuse, and poor surrounding infrastructure can all lead to hidden costs. Educate customers, discourage misuse, and invest in quality surrounding infrastructure.

[jaden @jadenwarren]

4/ Also consider costs associated with imperfect transactions. For example, how often do products get returned, and what's the cost of troubleshooting when customers struggle with the product?

[jaden @jadenwarren]

1/ Companies are increasingly releasing lower quality products to boost profit margins. For instance, in fast fashion, margins are more than double that of other retailers. But is this really a smart strategy? Let's delve into the hidden costs that might make it less appealing.