#Capital Investments Limited
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bandzboy · 10 months ago
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it’s boggling my mind that instead of putting this drama on a streaming platform or distributing it somewhere they put on app that is powered by nfts and that has a mlm/pyramid scheme type system in it like this company never seizes to amaze me in the worst ways
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destkelamedia · 11 days ago
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Starting Real Estate Investment with Limited Capital: A Step-by-Step Guide
Discover effective strategies to enter the real estate market with minimal funds and grow your wealth over time Starting Real Estate Investment with Limited Capital: A Step-by-Step Guide Breaking into the real estate market might seem out of reach for those with limited funds. However, investing in real estate with limited capital is entirely possible with the right strategies. By leveraging…
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wealthwise93 · 4 months ago
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Guide to Crypto Trading: A Step-by-Step Guide
🚀 Ready to explore #CryptoTrading? 🌟 Dive into our step-by-step guide! From choosing platforms to crafting strategies, we’ll help you navigate the crypto world. Unlock your trading potential today! 💰📈 #Crypto #Bitcoin #Ethereum #Investing #XRP
Crypto trading can be an exciting way to profit from the volatility of cryptocurrency markets. However, it requires knowledge, planning, and strategy. Here’s a comprehensive guide to help you trade cryptocurrencies safely and effectively. 1. Understand the Basics Before you start trading, it’s important to understand the fundamentals: What is Cryptocurrency? A digital or virtual currency that…
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vander-12 · 1 year ago
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What is venture capital and how does it work?
By Kelly Knickerbocker Whether you’re booking accommodations through VRBO, grilling up a plant-based burger from Impossible Foods or purchasing groceries through Instacart, you use services and products from venture capital-backed companies every day. Yet people not working in the industry are unlikely to know much about this dynamic, active and evolving world. Even though the global capital…
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jonnywaistcoat · 7 months ago
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hey jonny, i just thought you'd want to know that character.ai has an ai-generated imitation of your voice and i'm not sure what other websites might have it or where it originated :(
Yeah, it's a fucking garbage state of affairs but, as a somewhat well-known performer with a pretty distinctive voice it doesn't exactly shock me. Needless to say I think anyone who used this is a mediocre waste of skin and if they ever tell me in person they've used it then 50/50 I punch them in the teeth.
I can't wait for a couple of years when it all collapses just like every other niche-but-interesting-technology-with-limited-use-cases-sold-as-a-universal-panacea-to-gormless-CEOs grift (blockchain being the best example). Because the thing is, none of these things actually make any money and cost a vast amount, so as soon as all the dumb venture capital funding dries up and AI is required to actually start paying for itself, the bubble bursts and the whole industry is fucked.
That said, it's gonna be rough when it happens - a lot of companies have invested very heavily in AI and they're going to be hurting badly. I know of more than one media company whose idiot executives invested ridiculous amounts into NFTs and ended up laying off massive swathes of workers when that obvious fucking scam collapsed. I suspect the AI crash is gonna be even worse than that. And by then it will have drowned the Internet in slop. We'll see, I guess.
Anyway, anyone who uses AI is a soulless fucking husk of a person who cannot tell half-digested vomit from culture, and I would pity them if they weren't making the world such a measurably worse place to exist.
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news4nose · 1 year ago
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China musing over revisions for easing limits related to foreign stake in domestic publicly-traded companies.    
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afeelgoodblog · 1 year ago
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The Best News of Last Week
1. ‘We are just getting started’: the plastic-eating bacteria that could change the world
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In 2016, Japanese scientists Oda and Hiraga published their discovery of Ideonella sakaiensis, a bacterium capable of breaking down PET plastic into basic nutrients. This finding marked a shift in microbiology's perception, recognizing the potential of microbes to solve pressing environmental issues.
France's Carbios has successfully applied bacterial enzyme technology to recycle PET plastic waste into new plastic products, aligning with the French government's goal of fully recycling plastic packaging by 2025.
2. HIV cases in Amsterdam drop to almost zero after PrEP scheme
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According to Dutch AIDS Fund, there were only nine new cases of the virus in Amsterdam in 2022, down from 66 people diagnosed in 2021. The organisation claimed that 128 people were diagnosed with HIV in Amsterdam in 2019, and since 2010, the number of new infections in the Dutch capital has fallen by 95 per cent.
3. Cheap and drinkable water from desalination is finally a reality
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In a groundbreaking endeavor, engineers from MIT and China have designed a passive solar desalination system aimed at converting seawater into drinkable water.
The concept, articulated in a study published in the journal Joule, harnesses the dual powers of the sun and the inherent properties of seawater, emulating the ocean’s “thermohaline” circulation on a smaller scale, to evaporate water and leave salt behind.
4. World’s 1st drug to regrow teeth enters clinical trials
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The ability to regrow your own teeth could be just around the corner. A team of scientists, led by a Japanese pharmaceutical startup, are getting set to start human trials on a new drug that has successfully grown new teeth in animal test subjects.
Toregem Biopharma is slated to begin clinical trials in July of next year after it succeeded growing new teeth in mice five years ago, the Japan Times reports.
5. After Decades of Pressure, US Drugmaker J&J Gives Up Patent on Life-Saving TB Drug
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In what can be termed a huge development for drug-resistant TB (DR-TB) patients across large parts of the world, bedaquiline maker Johnson and Johnson said on September 30 (Saturday) that it would drop its patent over the drug in 134 low- and middle-income countries (LMICs).
6. Stranded dolphins rescued from shallow river in Massachusetts
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7. ‘Staggering’ green growth gives hope for 1.5C, says global energy chief
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The prospects of the world staying within the 1.5C limit on global heating have brightened owing to the “staggering” growth of renewable energy and green investment in the past two years, the chief of the world’s energy watchdog has said.
Fatih Birol, the executive director of the International Energy Agency, and the world’s foremost energy economist, said much more needed to be done but that the rapid uptake of solar power and electric vehicles were encouraging.
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That's it for this week :)
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creepyscritches · 3 months ago
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I read your post about open enrollment for the ACA and was hoping you might expand on why you believe it would take years to dismantle. I've been terrified that with a Republican house/senate, Trump could just snap his fingers and make it go away within months of taking office. I'd love some reassurance that that's not possible.
Hiya, sure I can share some thoughts on the matter! First, it's very important to understand the ACA is a huuuuuuuuuuuuge system with subject matter experts in dozens of places throughout the process. I'm one of those SMEs, but I am at the end of the process where the revenue is generated, so my insight is limited on the public facing pieces.
What this means is that I am professionally embedded in the ACA in a position that exists purely to show what conditions people are treated for and then generate that data into what's called a "risk score". There's about 6 pages I could write on it, but the takeaway is that the ACA is
1) intricately interwoven with the federal government
2) increasingly profitable, sustainable, and growing (it is STILL a for-profit system if you can believe it)
3) wholeheartedly invested in by the largest insurance companies in the country LARGELY due to the fact that they finally learned the rules of how to make the ACA a thriving center of business
4) since the big issuers are arm+leg invested in the ACA, there is a lot of resistance politically and on an industry level to leave it behind (think of the lobbyists, politicians, corporations that will fight tooth and nail to protect their profit + investment)
The process to calculate a risk score takes roughly 2 years. There is an audit for the concurrent year and then a vigorous retro audit for the prev year - - this is a rolling cycle every year. Medicare has a similar process. These are RVP + RADV audits if you would like the jargon.
Eliminating the ACA abruptly is as internally laughable as us finishing the RADV audit ahead of schedule. If Trump were to blow the ACA into smithereens on day 1, he would be drowning in issuer complaints and an economic health sector that is essentially bleeding out. You cut off the RVP early? We have half of next RADV stuck in the gears now. You cut off the RADV early? No issuer will get their "risk adjusted" payments for services rendered in the prev benefit year (to an extent, again very complex multi-process system).
The ACA is GREAT for the public and should be defended on that basis alone. However, the inner capitalistic nature of the ACA is a powerful armor that has conservatives + liberals defending it on a basis of capital + market growth. It's not sexy, but it makes too much money consistently for the system to be easily dismantled.
Or at least that's what I can tell you from the money center of the ACA. they don't bring us up in political conversation because we are confusing to seasoned professionals, boring to industry outsiders, and consistently we are anathema to the anti-ACA talking points.
I am already preparing for next year's RVP for this window of open enrollment. That RVP process will feed into the RADV in 2026. In 2025, we begin the RADV for 2024. If nothing else, the slow fucking gears of CMS will keep the ACA alive until we finish our work at the end of the process. I highly doubt that will be the only reason the ACA is safeguarded, but it is a powerful type of support to pair with people protecting the ACA for other reasons.
I work every day to show, defend, and educate on how many diagnoses are managed thru my company's ACA plans. My specialty is cancer and I see a lot of it. The revenue drive comes from the Medical Loss Ratio (MLR) rule stating only 20% MAX of profit may go to the issuer + the 80% at a minimum must go back to the customer or be invested in expanding benefits. The more people on the plan using it, the higher that 20% becomes for the issuer and the more impactful that 80% becomes for the next year of benefit growth. It is remarkably profitable once issuers stop seeking out "healthy populations". The ACA is a functional method for issuers to tap into a stable customer base (sick/chronic ill customers) that turns a profit, grows, and builds strong consumer bases in each state.
The industry can never walk away from this overnight - - this is the preferred investment for many big players. Changing the direction of those businesses will be a monumental effort that takes years (at least 2 with the audits). In the meantime, you still have benefits, you still have care, and you still have reason to sign up. Let us deal with the bureaucracy bullshit, go get your care and know you have benefits thru 2025 and we will be working to keep it that way for 2026 and forward. This is a wing of the federal government, it is not a jenga tower like Trump wishes.
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metamatar · 3 months ago
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Employers desire foreign workers who are accustomed to the hazardous work sites of industrial construction; in particular, they specifically solicit migrants who do not have a history of labor organizing within SWANA. In response, labor brokerage firms brand themselves as offering migrant workers who are deferential. Often, labor brokers conflate the category of South Asian with docility; [...] as inherently passive, disciplined, and, most important, unfettered by volatile working conditions. "We say quality, they [U.S. employers] say seasoned. We both know what it means. Workers who are not going to quit, not going to run away in the foreign country and do as they are told.” [...]
For migrants, the U.S. oil industry presents a rare chance to apply their existing skill set in a country with options for permanent residency and sponsorship of family members. Migrants wish to find an end to their tem­porary worker status; they imagine the United States as a liberal economy in which labor standards are enforced and there are opportunities for citizenship and building a life for their family. [...] What brokers fail to explain is that South Asian migrants are being recruited as guest workers. Migrants will not have access to U.S. citizenship or visas for family members; in fact, their employment status will be quite similar to their SWANA migration.
While nations such as the Philippines have both state-mandated and independent migrant rights agencies, the Indian government has minimal avenues for worker protection. These are limited to hotlines for reporting abusive foreign employers and Indian consulates located in a few select countries of the SWANA region. [... Brokers] emphasize the docility of Indian migrants in comparison to the disruptive tendencies of other Asian migrant workers. [...] “Some of these Filipino men you see make a lot of trouble in the Arab countries. Even their women, who work as maids and such, lash out. The employer says one wrong thing and the workers get the whole country [the Philippines] on the street. [...] But you don’t see our people creating a tamasha [spectacle] overseas.” [...] Just as Filipinx migrants are racialized to be undisciplined labor, Indian brokers construct divisions within the South Asian workforce to promote the primacy of their own firms. In particular, Pakistani workers are racialized as an abrasive population.
[...] While the public image of the South Asian American community remains as model minorities, presumed to be primarily upwardly mobile professionals, the global reality of the population is quite to the contrary. [...] From the historic colonial routes initiated by British occupation of South Asia to the emergence of energy markets within the countries of SWANA, migrants have been recruited to build industries by contributing their labor to construction projects. Within the last decade, these South Asian migrants, with experience in the SWANA oil industry, have been actively solicited as guest workers into the energy sector of the United States. The growth of hydraulic fracturing has opened new territory for oil extraction; capitalizing on the potential market are numerous stakeholders who have invested in industrial construction projects across the southwestern United States. The solicitation of South Asian construction workers is not coincidental. [...] Kartik, a globally competitive firm’s broker, explains the connection of Indian labor to practices of the past. “You know we come from a long history of working in foreign lands. Even the British used to send us to Africa and the Arab regions to work in the mines and oil fields. It’s part of our history.”
Seasoning Labor: Contemporary South Asian Migrations and the Racialization of Immigrant Workers, Saunjuhi Verma in the Journal of Asian American Studies
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gootarts · 1 year ago
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as of 8/3, the most recently updated version of this post is here (it's a reblog of this exact post with more info added)
as a lot of you know, limbus company recently fired its CG illustrator for being a feminist, at 11 pm, via phone call, after a bunch of misogynists walked into the office earlier that day and demanded she be fired. on top of this, as per korean fans, her firing went against labor laws---in korea, you must have your dismissal in writing.
the korean fandom on twitter is, understandably, going scorched earth on project moon due to this. there's a lot currently going on to protest the decision, so i'm posting a list here of what's going on for those who want to limit their time on elon musk's $44 billion midlife crisis impulse purchase website (if you are on twitter, domuk is a good person to follow, as they translate important updates to english). a lot of the links are in korean, but generally they play nicely with machine translators. this should be current as of 8/2.
Statements condemning the decision have been issued by The Gyeonggi Youth Union and IT Union.
A press conference at the Gyeonggido Assembly will occur on 8/3, with lawmakers of the Gyeonggi province (where Project Moon is based) in attendance. This appears driven by the leader of the Gyeonggi Youth Union.
The vice chairman of the IT union--who has a good amount of experience with labor negotiations like these--has expressed strong support for the artist and is working to get media coverage due to the ongoing feminist witch hunts in the gaming industry. Project Moon isn't union to my knowledge, but he's noted that he's taken on nonunion companies such as Netmarble (largest mobile game dev in South Korea) by getting the issue in front of the National Assembly (Korea's congress).
Articles on the incident published in The Daily Labor News, Korean Daily, multiple articles on Hankyoreh (one of which made it to the print edition), and other news outlets.
Segments about the termination on the MBN 7 o' clock news and MBC's morning news
Comments by Youth Union leaders about looking into a loan made to Project Moon via Devsisters Ventures, a venture capital firm. Tax money from Gyeonggi province was invested in Devsisters in 2017, and in 2021, Devsisters gave money to Project Moon. The Gyeonggi Youth Union is asking why hard-earned tax money was indirectly given to a company who violates ESG (environmental, social and governance) principles.
Almost nonstop signage truck protests outside Project Moon's physical office during business hours until 8/22 or the company makes a statement. This occurs alongside a coordinated hashtag campaign to get the issue trending on Twitter in Korea. The signage campaign was crowd-funded in about 3 hours.
A full boycott of the Limbus Company app, on both mobile and PC (steam) platforms. Overseas fans are highly encouraged to participate, regardless if whether they're F2P or not. Not opening the app at all is arguably the biggest thing any one person can do to protest the decision, as the app logs the number of accounts that log on daily. For a new gacha such as Limbus, a high number of F2P daily active users, but a small number of paying users is often preferable to having a smaller userbase but more paying users. If the company sees the number of daily users remain stable, they will likely decide to wait out any backlash rather than apologize.
Digging up verified reviews from previous employees regarding the company's poor management practices
Due to the firing, the Leviathan artist has posted about poor working conditions when making the story. As per a bilingual speaker, they were working on a storyboard revision, and thought 'if I ran into the street right now and got hit by a car and died, I wouldn't have to keep working.' They contacted Project Moon because they didn't want their work to be like that, and proposed changes to serialization/reduction in amount of work per picture/to build up a buffer of finished images (they did not have any buffer while working on Leviathan to my knowledge). They were shut out, and had to suck it up and accept the situation.
Hamhampangpang has a 'shrine' section of the restaurant for fans to leave fan-created merch and other items. They also allow the fans to take this merch back if they can prove it's theirs. Fans are now doing just that.
To boost all of the above, a large number of Korean fanartists with thousands of followers have deleted their works and/or converted their accounts from fanart accounts to accounts supporting the protests. Many of them are bilingual, and they're where I got the majority of this information.
[note 1: there's a targeted english-language disinformation campaign by the website that started the hate mob. i have read the artist's tweets with machine translation, and they're talked about in the second hankyoreh article linked above: nowhere does she express any transphobic or similarly awful beliefs. likewise, be wary of any claims that she supported anything whose description makes you raise eyebrows--those claims are likely in reference to megalia, a korean feminist movement. for information on that, i'd recommend the NPR/BBC articles below and this google drive link of english-language scholarly papers on them. for the love of god don't get your information about a feminist movement from guys going on witch hunts for feminists.]
[note 2: i've seen a couple people argue that the firing was for the physical safety of the employees, citing the kyoani incident in japan. as per this korean fan, most fans there strongly do not believe this was the case. we have english-translated transcripts of the meeting between the mob and project moon; the threats the mob was making were to......brand project moon as a feminist company online. yes, really. male korean gamers aren't normal about feminism, and there's been an ongoing witch hunt for feminists in the industry since about 2016, something you see noted in both the labor union statements. both NPR and the BBC this phenomenon to gamergate, and i'd say it's a pretty apt comparison.]
let me know if anything needs correction or if anything should be added.
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probablyasocialecologist · 8 months ago
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There is no compelling reason to believe that capitalism will collapse under rising production costs and degrading natural conditions of production. This is unlikely, as capital can profit even from natural degradation by finding new opportunities for investment in such disasters too. As Naomi Klein has documented, this possibility is clearly visible in what neoliberal ‘disaster capitalism’ has done in the last decades. Capital continues to profit from current ecological crises by inventing new business opportunities such as fracking, geo-engineering, genetically modified organisms (GMOs), carbon trading and natural disaster insurance. Incessantly attempting to shift the rift, capitalism can keep going beyond these natural limits and accumulate more wealth. In contrast, the current level of civilization cannot sustain itself beyond a certain point precisely due to objective natural limits. As far as the logic of capital’s accumulation is being estranged from human life and the sustainability of the ecosystem, the capitalist system might continue to exist, even if all the planetary boundaries are exceeded, but many parts of the earth will be unsuitable for civilization.
Kohei Saito, Marx in the Anthropocene: Towards the Idea of Degrowth Communism
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mostlysignssomeportents · 1 year ago
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No, Uber's (still) not profitable
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Going to Defcon this weekend? I'm giving a keynote, "An Audacious Plan to Halt the Internet's Enshittification and Throw it Into Reverse," on Saturday at 12:30pm, followed by a book signing at the No Starch Press booth at 2:30pm!
https://info.defcon.org/event/?id=50826
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Bezzle (n): 1. "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it" (JK Gabraith) 2. Uber.
Uber was, is, and always will be a bezzle. There are just intrinsic limitations to the profits available to operating a taxi fleet, even if you can misclassify your employees as contractors and steal their wages, even as you force them to bear the cost of buying and maintaining your taxis.
The magic of early Uber – when taxi rides were incredibly cheap, and there were always cars available, and drivers made generous livings behind the wheel – wasn't magic at all. It was just predatory pricing.
Uber lost $0.41 on every dollar they brought in, lighting $33b of its investors' cash on fire. Most of that money came from the Saudi royals, funneled through Softbank, who brought you such bezzles as WeWork – a boring real-estate company masquerading as a high-growth tech company, just as Uber was a boring taxi company masquerading as a tech company.
Predatory pricing used to be illegal, but Chicago School economists convinced judges to stop enforcing the law on the grounds that predatory pricing was impossible because no rational actor would choose to lose money. They (willfully) ignored the obvious possibility that a VC fund could invest in a money-losing business and use predatory pricing to convince retail investors that a pile of shit of sufficient size must have a pony under it somewhere.
This venture predation let investors – like Prince Bone Saw – cash out to suckers, leaving behind a money-losing business that had to invent ever-sweatier accounting tricks and implausible narratives to keep the suckers on the line while they blew town. A bezzle, in other words:
https://pluralistic.net/2023/05/19/fake-it-till-you-make-it/#millennial-lifestyle-subsidy
Uber is a true bezzle innovator, coming up with all kinds of fairy tales and sci-fi gimmicks to explain how they would convert their money-loser into a profitable business. They spent $2.5b on self-driving cars, producing a vehicle whose mean distance between fatal crashes was half a mile. Then they paid another company $400 million to take this self-licking ice-cream cone off their hands:
https://pluralistic.net/2022/10/09/herbies-revenge/#100-billion-here-100-billion-there-pretty-soon-youre-talking-real-money
Amazingly, self-driving cars were among the more plausible of Uber's plans. They pissed away hundreds of millions on California's Proposition 22 to institutionalize worker misclassification, only to have the rule struck down because they couldn't be bothered to draft it properly. Then they did it again in Massachusetts:
https://pluralistic.net/2022/06/15/simple-as-abc/#a-big-ask
Remember when Uber was going to plug the holes in its balance sheet with flying cars? Flying cars! Maybe they were just trying to soften us up for their IPO, where they advised investors that the only way they'd ever be profitable is if they could replace every train, bus and tram ride in the world:
https://48hills.org/2019/05/ubers-plans-include-attacking-public-transit/
Honestly, the only way that seems remotely plausible is when it's put next to flying cars for comparison. I guess we can be grateful that they never promised us jetpacks, or, you know, teleportation. Just imagine the market opportunity they could have ascribed to astral projection!
Narrative capitalism has its limits. Once Uber went public, it had to produce financial disclosures that showed the line going up, lest the bezzle come to an end. These balance-sheet tricks were as varied as they were transparent, but the financial press kept falling for them, serving as dutiful stenographers for a string of triumphant press-releases announcing Uber's long-delayed entry into the league of companies that don't lose more money every single day.
One person Uber has never fooled is Hubert Horan, a transportation analyst with decades of experience who's had Uber's number since the very start, and who has done yeoman service puncturing every one of these financial "disclosures," methodically sifting through the pile of shit to prove that there is no pony hiding in it.
In 2021, Horan showed how Uber had burned through nearly all of its cash reserves, signaling an end to its subsidy for drivers and rides, which would also inevitably end the bezzle:
https://pluralistic.net/2021/08/10/unter/#bezzle-no-more
In mid, 2022, Horan showed how the "profit" Uber trumpeted came from selling off failed companies it had acquired to other dying rideshare companies, which paid in their own grossly inflated stock:
https://pluralistic.net/2022/08/05/a-lousy-taxi/#a-giant-asterisk
At the end of 2022, Horan showed how Uber invented a made-up, nonstandard metric, called "EBITDA profitability," which allowed them to lose billions and still declare themselves to be profitable, a lie that would have been obvious if they'd reported their earnings using Generally Accepted Accounting Principles (GAAP):
https://pluralistic.net/2022/02/11/bezzlers-gonna-bezzle/#gryft
Like clockwork, Uber has just announced – once again – that it is profitable, and once again, the press has credulously repeated the claim. So once again, Horan has published one of his magisterial debunkings on Naked Capitalism:
https://www.nakedcapitalism.com/2023/08/hubert-horan-can-uber-ever-deliver-part-thirty-three-uber-isnt-really-profitable-yet-but-is-getting-closer-the-antitrust-case-against-uber.html
Uber's $394m gains this quarter come from paper gains to untradable shares in its loss-making rivals – Didi, Grab, Aurora – who swapped stock with Uber in exchange for Uber's own loss-making overseas divisions. Yes, it's that stupid: Uber holds shares in dying companies that no one wants to buy. It declared those shares to have gained value, and on that basis, reported a profit.
Truly, any big number multiplied by an imaginary number can be turned into an even bigger number.
Now, Uber also reported "margin improvements" – that is, it says that it loses less on every journey. But it didn't explain how it made those improvements. But we know how the company did it: they made rides more expensive and cut the pay to their drivers. A 2.9m ride in Manhattan is now $50 – if you get a bargain! The base price is more like $70:
https://www.wired.com/story/uber-ceo-will-always-say-his-company-sucks/
The number of Uber drivers on the road has a direct relationship to the pay Uber offers those drivers. But that pay has been steeply declining, and with it, the availability of Ubers. A couple weeks ago, I found myself at the Burbank train station unable to get an Uber at all, with the app timing out repeatedly and announcing "no drivers available."
Normally, you can get a yellow taxi at the station, but years of Uber's predatory pricing has caused a drawdown of the local taxi-fleet, so there were no taxis available at the cab-rank or by dispatch. It took me an hour to get a cab home. Uber's bezzle destroyed local taxis and local transit – and replaced them with worse taxis that cost more.
Uber won't say why its margins are improving, but it can't be coming from scale. Before the pandemic, Uber had far more rides, and worse margins. Uber has diseconomies of scale: when you lose money on every ride, adding more rides increases your losses, not your profits.
Meanwhile, Lyft – Uber's also-ran competitor – saw its margins worsen over the same period. Lyft has always been worse at lying about it finances than Uber, but it is in essentially the exact same business (right down to the drivers and cars – many drivers have both apps on their phones). So Lyft's financials offer a good peek at Uber's true earnings picture.
Lyft is actually slightly better off than Uber overall. It spent less money on expensive props for its long con – flying cars, robotaxis, scooters, overseas clones – and abandoned them before Uber did. Lyft also fired 24% of its staff at the end of 2022, which should have improved its margins by cutting its costs.
Uber pays its drivers less. Like Lyft, Uber practices algorithmic wage discrimination, Veena Dubal's term describing the illegal practice of offering workers different payouts for the same work. Uber's algorithm seeks out "pickers" who are choosy about which rides they take, and converts them to "ants" (who take every ride offered) by paying them more for the same job, until they drop all their other gigs, whereupon the algorithm cuts their pay back to the rates paid to ants:
https://pluralistic.net/2023/04/12/algorithmic-wage-discrimination/#fishers-of-men
All told, wage theft and wage cuts by Uber transferred $1b/quarter from labor to Uber's shareholders. Historically, Uber linked fares to driver pay – think of surge pricing, where Uber charged riders more for peak times and passed some of that premium onto drivers. But now Uber trumpets a custom pricing algorithm that is the inverse of its driver payment system, calculating riders' willingness to pay and repricing every ride based on how desperate they think you are.
This pricing is a per se antitrust violation of Section 2 of the Sherman Act, America's original antitrust law. That's important because Sherman 2 is one of the few antitrust laws that we never stopped enforcing, unlike the laws banning predator pricing:
https://ilr.law.uiowa.edu/sites/ilr.law.uiowa.edu/files/2023-02/Woodcock.pdf
Uber claims an 11% margin improvement. 6-7% of that comes from algorithmic price discrimination and service cutbacks, letting it take 29% of every dollar the driver earns (up from 22%). Uber CEO Dara Khosrowshahi himself says that this is as high as the take can get – over 30%, and drivers will delete the app.
Uber's food delivery service – a baling wire-and-spit Frankenstein's monster of several food apps it bought and glued together – is a loser even by the standards of the sector, which is unprofitable as a whole and experiencing an unbroken slide of declining demand.
Put it all together and you get a picture of the kind of taxi company Uber really is: one that charges more than traditional cabs, pays drivers less, and has fewer cars on the road at times of peak demand, especially in the neighborhoods that traditional taxis had always underserved. In other words, Uber has broken every one of its promises.
We replaced the "evil taxi cartel" with an "evil taxi monopolist." And it's still losing money.
Even if Lyft goes under – as seems inevitable – Uber can't attain real profitability by scooping up its passengers and drivers. When you're losing money on every ride, you just can't make it up in volume.
Image: JERRYE AND ROY KLOTZ MD (modified) https://commons.wikimedia.org/wiki/File:LA_BREA_TAR_PITS,_LOS_ANGELES.jpg
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I’m kickstarting the audiobook for “The Internet Con: How To Seize the Means of Computation,” a Big Tech disassembly manual to disenshittify the web and bring back the old, good internet. It’s a DRM-free book, which means Audible won’t carry it, so this crowdfunder is essential. Back now to get the audio, Verso hardcover and ebook:
http://seizethemeansofcomputation.org
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If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2023/08/09/accounting-gimmicks/#unter
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Image: JERRYE AND ROY KLOTZ MD (modified) https://commons.wikimedia.org/wiki/File:LA_BREA_TAR_PITS,_LOS_ANGELES.jpg
CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en
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queeranarchism · 1 year ago
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With so many left wing artists, it's weird how solidly the idea of 'being an artist' is formed by individualism and capitalism.
The idea of the artist as an 'individual with a vision', results in the vast majority of art being produced alone and the idea of collective art just not occurring to people. Writers groan about being stuck on a rough part in their novel for months and the idea of getting another writer involved to fix it never even crosses their mind because they're so hung up on the idea that their art has to be uniquely their own.
The idea of art as the 'capital' of the artist. Some artists will admit that copyright is just an annoying necessity under capitalism (and as it is, copyright rarely protects small artists and only protects Disney) but many artists hold a deep emotional investment in the idea that they 'own' their art and that they should be allowed to limit what others do with it. 'My property'. You wouldn't download a car etc. The idea that all art could be the collective property of all to freely reproduce and rework into amazing new things is (horror voice) 'anarchy' to many.
(Meanwhile many artists, especially writers, learned their craft through fan fiction, this deeply collaborative space that recognizes no ownership, revels in the freedom to remix everything and produces incredible volumes of free art that is once again available for all to rework. And yet moving away from that and creating something Uniquely Your Own is seen as somehow superior)
And finally, the idea of the creative genius that's superior to everyone else because they create. This one isn't explicit very often but scratch the surface and you'll find a lot of high minded ideas about creativity being this uniquely precious force in a way that invalidates stuff like care work. It'll also show up in it's other equally individualist form: the idea that producing art is deeply fulfilling and meaningful in a way that raising a child or caring for your elderly neighbor isn't.
I could go on about subculture details like the romantic love of books as things you need to physically own on your bookshelf as a thing that makes loving stories into a consumer's profile which simultaneously signals your middle class status, instead of just a free hobby. But I'm more interested in the question: what do we get when we question all this shit?
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knuckleblaster · 1 year ago
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On some level I understand the rejection or outright denial of V2's death: it was jarring and brutal, especially for a character who, at least in laws of traditional video game rivals and the rule of thirds, seemed like it'd stick around for longer. This said, inferring from in-game lore as well as dev statements, I believe V2's death, tragic that it is, is not unwarranted; and that it is commonly pigeonholed into a characterization it does not fit into due to its assumed role within the game.
This is long, so it's going under the cut.
Considering its name, it's easy to assume V2 is a new and improved version of its predecessor; but it is more heavily implied that it's simply a version of V1 with thicker plating, and nothing more. [1] V2 was an attempt at salvaging V1's design after war became irrelevant, to capitalize on the resources wasted on a highly advanced war machine by rebranding it as an adaptable worker, for security and (theoretically) other peacetime activities (...not an innuendo). This was a failure; there's no reason to invest in something so refined when a handful of lesser machines could do the same job [2].
If V2 is contextualized within its backstory, it makes a lot more sense why it ate shit so quickly. It is, out of any in-game machine so far, one of the least suited for survival in Hell. Sentries and Streetcleaners were created for war. Swordsmachine(s) and Mindflayers are scrapheads, constantly adapting to create (and protect) their perfect, lethal body. [3] If anything, it's on the same level as a Drone, able to defend itself in a limited capacity, but not intentionally programmed or built for combat. Faced with V1, something built for perfect, swift destruction, a machine made for peace would stand even less of a chance than normal, even with an equal level of mobility and build.
V2 is also doomed, in a very literal sense, by the narrative. In a meta sense, it does not matter to the game story whatsoever [4]. V1 is the butterfly whose wing flaps set Gabriel's story in motion, but V2 has no such connection to his story, and is thus irrelevant. Even its lore entry is overshadowed by information about V1/its connection to V1. A third fight, as well, was never in the running, not necessarily due to anything in the game lore, but because its first and second encounters are all it needs: a third rematch would be repetitive and messy [5]. The reason for its extremely violent death sequence is to ensure there was no question as to its fate [6].
In regards to its personality; it is oft-headcanoned as loud, irritable, and competitive, but this characterization is more likely due to its color as well as its assumed role as a "rival" to V1; rather than based upon its in-game actions. Although its initial intentions are up to interpretation [7], comparing its actions and mechanics to other enemies fully rationalizes its anger. Although it's fairly easy to enrage in-fight, the criteria for its enrage state is much more specific than other enemies, and it's quite easy to not trigger it at all. Cerberi will enrage after one of its kind dies, Malicious Faces and Mindflayers after a certain amount of damage has been dealt (on Violent). Most notably, as the only other character with a rematch, Gabriel begins his second fight enraged after his first defeat [3], which can imply by extension that even though V2 is taking its second fight more seriously [8], it is still not outwardly angry. Its enrage state is only triggered when its patience is depleted (the player avoids it for too long), or in its second fight when it has been punched with the Knuckleblaster. These can be interpreted as indicators that V2 likes it when the fight is "fair": when it's not being avoided and picked at from a distance, or being hit with its own arm; which is frankly pretty fucking mean. A side note: Returning to its creation, it can also potentially be inferred that V2 was intentionally programmed with a rational, controlled, and even marketable personality, easily suppressed or overwritten for ease of use.
In another game, or if V1 was the protagonist, perhaps V2 would not be dead. Instead, V2 is doomed by its creators, both in-game and in reality. It mirrors V1 in action and Gabriel in mind, but unlike them, it has no place in this story beyond a truly fantastic duo of fights. Although its story has any number of potential rewritings or epilogues [9], its doom was always intended. It's easy to mourn lost potential, and its end is intensely tragic; but I believe it is a tragedy that meshes nicely with the rest of the game's story. V2 is dead, and not a second too soon.
Footnotes:
1.
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Along with the lore entry for V2:
V1’s planned production was cancelled and an updated model, V2, was developed instead, using the standardized plating, since durability was far more important during times of peace when no bloodshed was necessary.
2.
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twitter.com/HakitaDev/status/1538313328715513857
3. in-game lore entries, can be read on ultrakill.miraheze.org or here in one document: steamcommunity.com/sharedfiles/filedetails/?id=2245904838
4.
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5.
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twitter.com/HakitaDev/status/1538336055681863680
6. "And then V2 dies as hard as anyone could possibly die to make sure people understand he's fucking dead and is not coming back" - dev commentary, 05:08:09 (youtu.be/kaImho5JioI?si=v4_m90nfLOY-DyEZ&t=18489)
7.
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8.
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9. Notably, Dream's End Come True / v2isdead.com.
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txttletale · 1 year ago
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What are your criticisms of Chavismo and Maduro just out of curiosity?
now i'd like to preface this with a disclaimer that any opposition ghoul would do nothing but sell the country out to the USA and UK every which way in a heartbeat--maduro is better than any alternative, whether that's guaidó or whichever neoliberal puppet they prop up to replace him.
anyway, there were two key problems with chavismo. firstly, it's fundamentally a national-bourgeois led social democratic movement. obviously in an imperialized country like venezuela this made it profoundly progressive, and the achievments of the bolivarian revolution were incredible--chávez cut malnutrition in half, cut unemployment in half, sent millions of children to school and gave millions of elderly people pensions. however, this project of wealth distribution ultimately had to accomodate the national bourgeoisie. which of course on one hand you can argue was completely necessary, but on the other hand allowed the parasitic classes to entrench themselves firmly within elements of the state apparatus and made chavismo as a project entirely incapable of confronting the national bourgeoisie or corruption.
these of course are the realities of 'democratic socialism', of sweeping a socialist into office in a bourgeoise democracy. through some extremely clever political structures, such as the new constitution, communes, and bolicarian circles--he was able to move much more radically than most in his position. but ultimately, he could not escape the fundamental limits of the source and constraints of his power.
the second is that--and this is a very tawdry and obvious piece of analysis--while it is of course admirable and correct that he seized the nation's oil wealth and enriched the country with it--the way he did it was obviously shortsighted. without a sovereign wealth fund, worker's democratic control of the oil industry, or a solid and far-ranging investment plan, he laid the groundwork for some of the current crisis on the assumption that oil prices would stay high forever.
maduro inherited these faults and added far more of his own. during the crisis that began in earnest in 2016, the other shoe dropped wrt oil prices at the same time as the US tightened their murderous sanctions regime. faced with economic crisis, maduro has broadly chosen to move from chávez' strategy of accomodation with the national bourgeoisie to a full on alliance. social programs have been slashed, pensions cut, wages have plummeted, and worst of all, maduro has sold off countless state enterprises in the hope that oft-prayed to benevolent deity, "foreign capital" would miraculously heal the economy. in the course of this he made an enemy of many early chavistas, as well as the leftmost wing of chávez' coalition -- he has mobilized the full force of the bourgeois state against the country's communist party and other genuinely revolutionary movements, most gallingly the marxist-leninist movimiento tupamaro.
so, tldr: chavismo was genuinely radical compared to even your average third-world social democracy--however it remained fundamentally constrained in what it could accomplish by the lack of an actual proletarian state, was unable to rid itself of reliance on the national bourgeoisie for that same reason, and made some very avoidable mistakes in the handling of the nation's oil wealth--maduro inherited those flaws but has been much more accomodating to both national and international capitalists to the detriment of the people of venezuela.
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mariacallous · 2 months ago
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Next year will be Big Tech’s finale. Critique of Big Tech is now common sense, voiced by a motley spectrum that unites opposing political parties, mainstream pundits, and even tech titans such as the VC powerhouse Y Combinator, which is singing in harmony with giants like a16z in proclaiming fealty to “little tech” against the centralized power of incumbents.
Why the fall from grace? One reason is that the collateral consequences of the current Big Tech business model are too obvious to ignore. The list is old hat by now: centralization, surveillance, information control. It goes on, and it’s not hypothetical. Concentrating such vast power in a few hands does not lead to good things. No, it leads to things like the CrowdStrike outage of mid-2024, when corner-cutting by Microsoft led to critical infrastructure—from hospitals to banks to traffic systems—failing globally for an extended period.
Another reason Big Tech is set to falter in 2025 is that the frothy AI market, on which Big Tech bet big, is beginning to lose its fizz. Major money, like Goldman Sachs and Sequoia Capital, is worried. They went public recently with their concerns about the disconnect between the billions required to create and use large-scale AI, and the weak market fit and tepid returns where the rubber meets the AI business-model road.
It doesn’t help that the public and regulators are waking up to AI’s reliance on, and generation of, sensitive data at a time when the appetite for privacy has never been higher—as evidenced, for one, by Signal’s persistent user growth. AI, on the other hand, generally erodes privacy. We saw this in June when Microsoft announced Recall, a product that would, I kid you not, screenshot everything you do on your device so an AI system could give you “perfect memory” of what you were doing on your computer (Doomscrolling? Porn-watching?). The system required the capture of those sensitive images—which would not exist otherwise—in order to work.
Happily, these factors aren’t just liquefying the ground below Big Tech’s dominance. They’re also powering bold visions for alternatives that stop tinkering at the edges of the monopoly tech paradigm, and work to design and build actually democratic, independent, open, and transparent tech. Imagine!
For example, initiatives in Europe are exploring independent core tech infrastructure, with convenings of open source developers, scholars of governance, and experts on the political economy of the tech industry.
And just as the money people are joining in critique, they’re also exploring investments in new paradigms. A crop of tech investors are developing models of funding for mission alignment, focusing on tech that rejects surveillance, social control, and all the bullshit. One exciting model I’ve been discussing with some of these investors would combine traditional VC incentives (fund that one unicorn > scale > acquisition > get rich) with a commitment to resource tech’s open, nonprofit critical infrastructure with a percent of their fund. Not as investment, but as a contribution to maintaining the bedrock on which a healthy tech ecosystem can exist (and maybe get them and their limited partners a tax break).
Such support could—and I believe should—be supplemented by state capital. The amount of money needed is simply too vast if we’re going to do this properly. To give an example closer to home, developing and maintaining Signal costs around $50 million a year, which is very lean for tech. Projects such as the Sovereign Tech Fund in Germany point a path forward—they are a vehicle to distribute state funds to core open source infrastructures, but they are governed wholly independently, and create a buffer between the efforts they fund and the state.
Just as composting makes nutrients from necrosis, in 2025, Big Tech’s end will be the beginning of a new and vibrant ecosystem. The smart, actually cool, genuinely interested people will once again have their moment, getting the resources and clearance to design and (re)build a tech ecosystem that is actually innovative and built for benefit, not just profit and control. MAY IT BE EVER THUS!
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