{"id":11145,"date":"2023-01-08T01:05:00","date_gmt":"2023-01-08T07:05:00","guid":{"rendered":"https:\/\/www.zmetro.com\/?p=11145"},"modified":"2023-01-08T07:02:06","modified_gmt":"2023-01-08T13:02:06","slug":"1-8","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=11145","title":{"rendered":"1.8"},"content":{"rendered":"\n<p><a href=\"https:\/\/jasonzweig.com\/on-charlie-munger\/\">Charlie Munger<\/a>, the blunt and brilliant vice chairman of Berkshire Hathaway Inc., isn\u2019t big on small talk. My first encounter with him was in 2004 at the Sunday brunch Warren Buffett used to hold at Berkshire\u2019s annual meeting. I was getting something at a buffet table, and Mr. Munger walked up and began ladling food onto his plate. I introduced myself and held out my hand: \u201cI\u2019m the guy who just revised <strong><a href=\"http:\/\/jasonzweig.com\/project\/the-intelligent-investor\/\">the Graham book<\/a><\/strong>.\u201d <\/p>\n\n\n\n<p>Now that I work at a <a href=\"https:\/\/joemorrison.substack.com\/p\/how-internet-in-space-will-transform\">satellite imagery company, <\/a>I\u2019ve become acutely aware of the long sequence of hurdles every satellite image must navigate to arrive safely before your eyes. The more I\u2019ve learned about these hurdles, the greater my sense of wonder has grown that people figured this stuff out in the 50s&#8230;  Launch is hard. Manufacturing is hard. Getting stuff built and tested on Earth to work in a zero G, frigid, irradiated vacuum is hard. Summarily: space is hard.\u00b2 Because of the challenge of space, there\u2019s another key part of every mission that is criminally overlooked. It\u2019s the very foundation of the modern space technology stack, the bedrock of the two-way communication between humans on Earth and assets in space known as the \u201cground segment\u201d (\u201cground\u201d for short).\u00b3 You could say\u2026ground is hard ?.<\/p>\n\n\n\n<p>ONE of the world\u2019s <a href=\"https:\/\/www.conservativewoman.co.uk\/250-years-of-amazing-grace\/\">most-loved hymns<\/a> was first heard on this day 250 years ago. <em>Amazing Grace<\/em> was written by John Newton for a sermon he gave on New Year\u2019s Day 1773 at the parish church of St Peter and St Paul in Buckinghamshire, where he was a curate.<\/p>\n\n\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Something is very strange about these softball, quasi sympathetic headlines that the NYT and WaPo are giving to the FTX characters. <a href=\"https:\/\/t.co\/vaXuDAGNb2\">pic.twitter.com\/vaXuDAGNb2<\/a><\/p>\n<p>\u2014 Wall Street Silver (@WallStreetSilv) <a href=\"https:\/\/twitter.com\/WallStreetSilv\/status\/1609963199494774790?ref_src=twsrc%5Etfw\">January 2, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n<p>But never have I seen the <a href=\"https:\/\/leehamnews.com\/2023\/01\/03\/pontifications-southwest-meltdown-its-second-in-3-months-is-a-day-of-reckoning-what-will-it-do-to-fix-it\/#more-40996\">chaotic meltdown of an airline<\/a> like that seen during the Christmas period of Southwest Airlines. On Boxing Day, the Luv airline canceled two-thirds of its flights. Its hubs in places like Baltimore and Chicago Midway were a sea of humanity and baggage. Southwest\u2019s meltdown was simply unbelievable.<\/p>\n\n\n\n<p>A decade ago, only a <a href=\"https:\/\/arstechnica.com\/science\/2022\/12\/top-us-launch-companies-of-2022-the-ars-technica-power-ranking\/\">handful<\/a> of launch companies existed in the US; United Launch Alliance was the big dog, with SpaceX starting to nip at its heels. Since then, however, a multiplicity of new launch startups have arrived in the United States, many of which developed their own rocket engines. As a result, we are now in the golden age of rocketry, with many different startups and approaches to pushing payloads into space.<\/p>\n\n\n\n<p>Liu is <a href=\"https:\/\/www.reuters.com\/breakingviews\/foxconn-reinvents-itself-ev-supply-chains-2023-01-03\/\">repurposing the top electronics contract manufacturer<\/a> into an electric vehicle powerhouse. Foxconn, formally known as Hon Hai Precision Industry, is gearing up to supply cars, and the chips and batteries that go into them, to global marques. It sees automakers entrusting the company with production in Indonesia, Thailand, Saudi Arabia, the United States and beyond. By 2025, Liu wants to take 5% of the global electric-vehicle market and generate annual revenue of T$1 trillion ($32.6 billion) \u2013 roughly 15% of Foxconn\u2019s forecast 2022 top line, per analyst estimates from Refinitiv.<\/p>\n\n\n\n<p>What does that mean in practice? For starters, <a href=\"https:\/\/www.ft.com\/content\/d34dfd79-113c-4ac7-814b-a41086c922fa\">a lot more oil trade will be done in renminbi<\/a>. Xi announced that, over the next three to five years, China would not only dramatically increase imports from GCC countries, but work towards \u201call-dimensional energy co-operation\u201d. This could potentially involve joint exploration and production in places such as the South China Sea, as well as investments in refineries, chemicals and plastics. Beijing\u2019s hope is that all of it will be paid for in renminbi, on the Shanghai Petroleum and Natural Gas Exchange, as early as 2025.<\/p>\n\n\n\n<p>Unlike Chouinard, however, Green said that his decision was because he \u201c<a href=\"https:\/\/archive.vn\/2023.01.03-172425\/https:\/\/fortune.com\/2022\/10\/25\/wealth-is-a-curse-hobby-lobby-founder-gives-away-company-god\/?itm_source=parsely-api\">chose God<\/a>.\u201d He explained that his faith was the \u201ctrue source\u201d of his success, and giving away his company came down to his own struggle between considering himself an owner of his company, or a steward.  <\/p>\n\n\n\n<p>Back when I was consulting for a non-Japanese camera company early this century, one of the constant discussions we had was \u201c<a href=\"https:\/\/bythom.com\/newsviews\/still-no-global-shutter.html\">how do we fix the user problem<\/a>?\u201d Not the engineering problem, but the user problem. <\/p>\n\n\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Positive cash flow. <a href=\"https:\/\/t.co\/Q7pfEvL376\">https:\/\/t.co\/Q7pfEvL376<\/a><\/p>\n<p>\u2014 Nassim Nicholas Taleb (@nntaleb) <a href=\"https:\/\/twitter.com\/nntaleb\/status\/1610632499079614464?ref_src=twsrc%5Etfw\">January 4, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n<p>China is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-04\/battered-by-covid-china-hits-pause-on-giant-chip-spending\">pausing massive investments<\/a> aimed at <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-20\/china-gathers-chip-firms-for-emergency-talks-after-biden-curbs\">building<\/a>a chip industry to compete with the US, as a nationwide Covid <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-03\/bodies-pile-up-in-china-as-covid-surge-overwhelms-crematoriums\">resurgence<\/a> strains the world\u2019s No. 2 economy and Beijing\u2019s finances.   Top officials are discussing ways to move away from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-06-17\/xi-taps-top-lieutenant-to-lead-china-s-chip-battle-against-u-s\">costly subsidies<\/a> that have so far borne little fruit and encouraged both graft and American sanctions, people familiar with the matter said. While some continue to push for incentives of as much as 1 trillion yuan ($145 billion), other policymakers have lost their taste for an investment-led approach that\u2019s not yielded the results anticipated, the people said. <\/p>\n\n\n\n<p>With HSS&#8217;s new <a href=\"https:\/\/www.freshpaint.io\/blog\/what-the-latest-hhs-guidance-on-hipaa-means-for-health-tech-companies\">guidance<\/a>, it&#8217;s critical to have BAAs signed for destinations that will handle PHI. Remember that some platforms like Facebook, Google, and Hubspot won&#8217;t even sign a BAA. Other tools charge extra for a signed BAA. To prevent inadvertently sharing PHI where you don&#8217;t have a BAA, you&#8217;ll need to invest in putting workflows in place.<\/p>\n\n\n\n<p>In its pre-Covid prime, the total value of Chinese <a href=\"https:\/\/on.ft.com\/3X0GFQ8\">worldwide travel<\/a> was roughly the size of Portugal\u2019s gross domestic product, or just over a quarter of a trillion dollars. The number of Chinese who made trips outside the mainland in 2019 \u2014 some 155mn people \u2014 represented a population slightly larger than Russia\u2019s. In that same year, Chinese overseas spending on luxury goods was larger than the current $90bn market capitalisation of General Electric.<\/p>\n\n\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The reason this matters &#8211; beyond the key role Obama and Pelosi played in preserving NSA domestic spying &#8211; is that a handful of establishment leaders in both parties agree on most things, and rule the country together as a club. Most members have no power:<a href=\"https:\/\/t.co\/oele1St1yl\">https:\/\/t.co\/oele1St1yl<\/a><\/p>\n<p>\u2014 Glenn Greenwald (@ggreenwald) <a href=\"https:\/\/twitter.com\/ggreenwald\/status\/1611076838931189760?ref_src=twsrc%5Etfw\">January 5, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n<p>Following a yearly habit: this is the <a href=\"https:\/\/www.maartenlambrechts.com\/2023\/01\/02\/the-list-of-2022-visualization-lists.html\">eighth edition of the list of visualizations<\/a>, charts, graphics, maps, data and satellite journalism and science photography lists, version 2022.<\/p>\n\n\n\n<p>Stunning and <a href=\"https:\/\/articles.roland.com\/soaring-sound-meet-the-piano-of-the-future\/\">adventurous<\/a>, Roland&#8217;s 50th Anniversary Concept Piano combines sound, design, and connectivity into an instrument of the future.<\/p>\n\n\n\n<p>Google had a <a href=\"https:\/\/www.propublica.org\/article\/google-human-tissue-jpc-military\">confidential plan<\/a> to turn the collection of slides into an immense archive that \u2014 with the help of the company\u2019s burgeoning, and potentially profitable, AI business \u2014 could help create tools to aid the diagnosis and treatment of cancer and other diseases. And it would seek first, exclusive dibs to do so.  \u201cThe chief concern,\u201d Google\u2019s liaison in the military warned the leaders of the repository, \u201cis keeping this out of the press.\u201d<\/p>\n\n\n\n<p>As a <a href=\"https:\/\/news.ycombinator.com\/item?id=34255599\">startup<\/a>, what are your must-have sections for a landing page?<\/p>\n\n\n\n<p>The hotel would be <a href=\"https:\/\/www.jsonline.com\/story\/money\/business\/2023\/01\/06\/baseball-historian-worried-about-downtown-hotel-proposal-at-key-site\/69775500007\/\">built at the site<\/a> where the American League was founded, an event memorialized by a plaque on a stone barrier on the southeast side of the property, according to members of the Society of American Baseball Research. <\/p>\n\n\n\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/restoring-america\/fairness-justice\/we-need-to-talk-about-duplicate-voter-registrations\">Duplicate registrations<\/a> aren\u2019t always some sinister voter fraud plot. They can happen when a person is registered under variations of their name. For example, John Smith is registered to vote under the name John Smith at the DMV and John J. Smith when they fill out a voter registration form at a fair. Another common example is a woman who is registered to vote under her maiden name and her married name.<\/p>\n\n\n\n<p>After reading a <a href=\"https:\/\/www.popsci.com\/technology\/article\/2011-06\/satellites-could-gather-energy-sun-and-beam-it-down-earth\/\"><em>Popular Science<\/em> article<\/a> on the concept in 2011, Caltech Board of Trustees lifetime member Donald Bren <a href=\"https:\/\/www.popsci.com\/technology\/caltech-solar-energy-power-satellite-prototype-launch\/\">approached<\/a> the school in hopes of making the science fiction idea a reality. The resultant <a rel=\"noreferrer noopener\" href=\"https:\/\/www.spacesolar.caltech.edu\/\" target=\"_blank\">Space Solar Power Project<\/a>, co-funded by defense manufacturer Northrop Grumman alongside the Bren family\u2019s $100 million endowment, saw its first major milestone completion yesterday via the SSPD arrival above Earth.<\/p>\n\n\n\n<p>Goodwillfinds.com is an <a href=\"https:\/\/retailgeek.com\/jason-scot-show-episode-300-goodwillfinds\/\">e-commerce<\/a> site, which sells previously owned merchandise, which has been donated to Goodwill. We cover many of the tactical challenges (onboarding SKUs, product content, fulfillment, and curation), as well as the opportunities of this new \u201cCircularCommerce\u201d space. We also get some of Matt\u2019s predictions about what\u2019s coming next in digital commerce.<\/p>\n\n\n\n<p>Let no one make this out to be a joke or idle talk; I am in <a href=\"https:\/\/wolfmueller.co\/the-third-part-of-martin-luthers-great-confession-concerning-christs-supper-1528\/\">dead earnest, since by the grace of God I have learned to know a great deal about Satan<\/a>. If he can twist and pervert the Word of God and the Scriptures, what will he not be able to do with my or someone else\u2019s words?<\/p>\n\n\n\n<p>The panel, which was <a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-faa-names-experts-review-boeing-safety-culture-after-fatal-crashes-2023-01-05\/\">required by Congress<\/a> under a 2020 law to reform how the FAA certifies new airplanes, includes MIT lecturer and aerospace engineer Javier de Luis whose sister was killed in a MAX crash, as well as experts from NASA, the FAA, labor unions, Airbus <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/AIR.PA\" target=\"_blank\">(AIR.PA)<\/a>, Southwest Airlines <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/LUV.N\" target=\"_blank\">(LUV.N)<\/a>, American Airlines <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/AAL.O\" target=\"_blank\">(AAL.O)<\/a>, United Airlines <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/UAL.O\" target=\"_blank\">(UAL.O)<\/a>, GE Aviation <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/GE.N\" target=\"_blank\">(GE.N)<\/a>, FedEx Express <a class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/companies\/FDX.N\" target=\"_blank\">(FDX.N)<\/a> and Pratt &amp; Whitney.<\/p>\n\n\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gavin knows it\u2019s him vs DeSantis in 2024. Although Biden is holding on longer than I expected. However we know how quickly the media can create a new narrative. Gavin assumes (I do too) that this turn will happen \u201cin time.\u201d <a href=\"https:\/\/t.co\/msGUYYqufz\">https:\/\/t.co\/msGUYYqufz<\/a><\/p>\n<p>\u2014 Cernovich (@Cernovich) <a href=\"https:\/\/twitter.com\/Cernovich\/status\/1611495966942826497?ref_src=twsrc%5Etfw\">January 6, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n<p>Then . . . nothing happened. No <a href=\"https:\/\/www.thebulwark.com\/phantom-candidates-and-ghost-newspapers\/\">other media outlets pursued the story<\/a>. Not the six local TV stations or WNYC, or <em>Politico, New York<\/em>, the <em>Times, <\/em>the <em>Daily News<\/em>. Not even <em>Newsday,<\/em> the formerly-august news source for Long Island. Grant Lally, the publisher and owner of the <em>North Shore Leader<\/em>, told me he didn\u2019t get a single call from another publication inquiring about it. \u201cIf this had run 25 years ago, it would have been gobbled up,\u201d he said. \u201cThere\u2019d have been 20 follow ups from <em>Newsday<\/em> and other publications and the weeklies.\u201d<\/p>\n\n\n\n<p>Apollo believed in Carvana\u2019s plan to sell cars online and thought that the 10.25 per cent annual coupon on offer in the overall $3bn bond issuance offered plenty of protection. The firm was also reassured by <a href=\"https:\/\/on.ft.com\/3WSViFy\">a study into Carvana\u2019s business model it, along with other investors, had commissioned from Bain &amp; Co<\/a> in early 2022. Apollo, considered by many to be the canniest credit investor in the world, had been a longtime investor in the online car retailer\u2019s debt.<\/p>\n\n\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Excluding the press always backfires. Is this the coverage the governor\u2019s team wanted today? <a href=\"https:\/\/t.co\/T9FfopQCUD\">https:\/\/t.co\/T9FfopQCUD<\/a><\/p>\n<p>\u2014 Heather Knight (@hknightsf) <a href=\"https:\/\/twitter.com\/hknightsf\/status\/1611527214297927682?ref_src=twsrc%5Etfw\">January 7, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n<p>The next blue bird might be a <a href=\"https:\/\/on.ft.com\/3GKTeJW\">surprise peace in Ukraine<\/a>, which instantly lowers energy and food costs. A thaw in the US-China cold war, which boosts global trade. A new digital technology that revives productivity, helping to contain inflation. None of this may seem likely, but then surprise is the essential nature of blue birds.<\/p>\n\n\n\n<p>It was the Global East and South that were harmed the most by this fraud. And I will argue that the reason these <a href=\"https:\/\/cryptohayes.medium.com\/vitiligo-b401cc31cd57h\">countries let the fox in the hen house yet again was misplaced trust due to centuries of social conditioning<\/a>, which has historically resulted in little \u201cwhite\u201d soy-boys like SBF being given an automatic seat at the proverbial table, no questions asked.<\/p>\n\n\n\n<p>An unexpected <a href=\"https:\/\/news.mit.edu\/2023\/roman-concrete-durability-lime-casts-0106\">ancient manufacturing strategy<\/a> may hold the key to designing concrete that lasts for millennia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charlie Munger, the blunt and brilliant vice chairman of Berkshire Hathaway Inc., isn\u2019t big on small talk. My first encounter with him was in 2004 at the Sunday brunch Warren Buffett used to hold at Berkshire\u2019s annual meeting. I was getting something at a buffet table, and Mr. Munger walked up and began ladling food [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/11145"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11145"}],"version-history":[{"count":47,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/11145\/revisions"}],"predecessor-version":[{"id":11194,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/11145\/revisions\/11194"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11145"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}