• 1 Post
  • 440 Comments
Joined 2 years ago
cake
Cake day: July 11th, 2023

help-circle






  • It’s not as much a “feel-good” story as comments who haven’t read beyond the headline might make you believe:

    The PIF values its total investments at nearly $1 trillion in assets, but a significant percentage of these are hard-to-sell assets with no public valuation; as a result, the NYT reports that the PIF reps have told international investors that it is “unable to allocate” for the near future.

    Despite this, a spokesperson for the PIF, Marwan Bakrali, told the newspaper that it had $60 billion in cash and “similar financial instruments”.

    ETA: Its not as though they’ve lost a significant chunk of the fund, but rather that a sizeable portion of it is tied up in illiquid assets that can’t be readily sold, or valued and loaned against.

    Though there is some mention of some of their investments being in “distress”, so there is at least some good news?




  • I meant relatively simple in the sense that it shouldn’t require a full re-write of existing laws - just an addition to, knowing full well that enforcement would be the biggest challenge.

    Hefty fines (over and above the value of the assets used as collateral) on the lenders if caught not reporting could help ensure compliance.

    Another way to tackle it might also be to treat the end of every financial year as a Capital Gains Event for assets over a certain threshold? That way, it just becomes part of people’s annual tax returns and taking out loans wouldn’t necessarily help avoid it.

    eg. If FY26 saw Elon Musk’s wealth increase by $10bn, he would owe ~$2bn in Capital Gains to the IRS.

    Also, to head off possible arguments: Given that the US taxes its citizens even if they live/work abroad - there would also be negligible risk of capital flight.


  • To each their own, but I miss not having that tactile browsing experience.

    Growing up, my mum kept an actual catalogue of what was on each one of our home-recorded VHS tapes as well as their timestamps!

    But back to OPs original point - it is strange how we have just normalised not obtaining our own copies of media as they’re provided to us. All the more reason to fully support pirating any materials you can (legally) access.







  • …lol, yes! Unless it’s the EU, they managed to get on the USB-C standardisation pretty early - there’s a chance we might see something like this out of them before 2050 🤞🏻

    I do worry about the Monkey’s Paw nature of capitalism though, with the regulations on vaping here accidentally causing a surge of ‘disposable’ vapes equipped with lithium ion batteries - ending up having something similar occur as a result.

    Duplicating charging circuits also seems a bit wasteful, especially if manufacturers cheap out and use the lowest quality components - rather than having a high-quality centralised GaN charger or similar.



  • Not intentionally being misleading, as I do have a footnote calling out not including carbon emissions from electricity generation as they vary so wildly based on the energy source.

    But unlike ICE cars, EV emissions from energy sources are improving over time as nations build more and more renewable energy sources. Your linked report is correct, but potentially out of date already - the UK for instance was already at 58% in 2024, with a goal of full of 95%+ by the end of this decade.

    Here in Australia, our uptake of residential solar has been so high that our energy providers are offering free electricity during peak daylight hours to all customers to help use up all of that excess production. It’s quite feasible for a significant portion of us here to be able to not only recharge an EV for free, but with next-to-no CO2 emissions.

    Additionally, we now have a big Government subsidy in place to install batteries in our homes as well: ~£4,000 for a ~30kWh system, fully installed!

    I share your love for older cars, but with a toddler and another one planned - we need to have a modern, safe car for peace of mind. But believe me, I will be ensuring that I disable as much telemetry as possible due to privacy concerns.

    But for a secondary/weekend car - there is always the option of electrifying an older car, allowing for the best of both worlds - in a sense!