Archive for the ‘business’ Category

One might be amazed how many reporters on the left spent yesterday on twitter attacking Musk and Matt Taibbi for releasing these documents, at least one would if you didn’t realize that these folks paychecks depend on them objecting.

This goes to show the difference between social media and standard media. For standard media a Friday night dump would be all about burring a story. However for a story that will spread via social media a Friday night weekend dump means more regular people will be free to read and spread it around, which is the whole point.

All that Musk has done has been about raising the profile of twitter. This document dump will do the same. That’s good news for all those advertisers who didn’t heed the left’s call to leave the platform but bad news to all who played along and lost their exposure to all those eyeballs.

This combined with the under oath testimony of an FBI agent being deposed is Missouri on their attempts to use big tech to swing the last election goes a long way in explaining why they went all in on stealing that election. If they fail and Trump wins then it’s bound to have been leaked to someone in the admin which might have resulted in a special prosecutor and/or investigation that would have been damning.

It’s very much worth noting that there were Democrat members of congress worried about this but their primary worry was what it would mean to section 230 defanging the friendly tech folks elsewhere at Facebook and Google and Youtube. In other words they were worried about not the acts but the Consequences they might lead to. A real test of the new GOP congress will be how deep they investigate this. If I’m McCarthy worried about getting the speakers chair I’d put out a statement at once saying I would name a committee at once and promise to load it with fire-eaters on the right.

Then let the consequences flow.

Back when I learned to code in the early 1980’s people who knew how to code were, in terms of the general population, kinda rare.

About 70% of the class who tried a Computer Science Major washed out because of the math and science involved and ending up with a job that was worth about $24K (the equivalent of $66K today) was par or even below par for the course. We were considered a BFD and had a pretty high opinion of ourselves.

Well after a while I decided I’d rather do other things than code and so I did but while I stepped away from my college major people poured into the industry, computers shrank in size and increased in power exponentially.

When I was looking to get back in the industry it seemed that everyone and their mother knew how to code and had been doing it in languages I had never seen before to the point where old Fortran coders like me in their late 40’s or early 50’s weren’t worth the investment when you could get a kid with now wife and family attachments for less money right out of college with all the new stuff fresh in their heads.

And that in a round about way brings us to the current nonsense at Twitter.

All these kids at Twitter seem to have a really inflated sense of self, not all that surprising given the way public education took a turn in the last few decades but they have in effect forgotten the reality of things which is namely this:

The pool of competent programmers has grown even faster than the processing power of computers over the last 40 years and you don’t have to be one of the richest men in the world to be able to tap into that pool and find a few thousand programmers if you need them.

Furthermore when you are one of the world’s richest men you can easily tap into a pool that extends far beyond America, let alone the blue areas of America.

Put simply while the supposedly bright people at Twitter who are considering leaving may have forgotten the laws of supply and demand Elon Musk hasn’t and if they think Twitter is suddenly going to go black because a bunch of them, even the majority of them choose to leave, then frankly their too stupid to be working at any company Musk owns.

I suspect those who choose to come aboard Twitter to replace these narcissists will be well rewarded for working hard and I suspect those who stay and choose to work hard will be even better rewarded.

This is the chance of a lifetime for a young programmer and if I was younger I’d consider it myself.

As for those leaving given the layoffs going on around the nation in the Biden economy I wish you the best of luck, you’ll need it.

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And of course the latest from our writers this week:


By John Ruberry

Every time Americans shop at a supermarket, they are reminded of a de facto tax on their spending power–inflation. The classic definition of inflation is too many dollars chasing too few goods, which, President Joe Biden and his apologists, jumped on last year when they deemed inflation as “transitory,” pointing at the supply-chain crisis and the backlog of freighters at America’s major seaports. Left out of Biden and Company’s explanation was his $1.9 trillion stimulus package, which the president signed into law in early 2021, when the economy was clearly already recovering from the COVID lockdown.

But the supply-chain crisis was in fact a couple-months long hiccup. After all, if the supply-chain crisis was such a concern, why did we only find out after the media began asking questions on the whereabouts of the person in charge of our ports, secretary of Transportation Pete Buttigieg? Only then was it revealed that Buttigieg was on paternity leave

The semiconductor chip shortage has driven up the price of new automobiles. The lack of chips is tied to the worldwide COVID lockdown. I’ll discuss cars in a bit. 

Over the past 12 months, according to the September figures from the Bureau of Labor Statistics, inflation soared, again, to a level not seen in four decades, at a rate of 8.2 percent. Despite what appears to be, for real, a transitory drop in gasoline prices. But fuel prices are dramatically higher than when Donald Trump was president because of the Biden administration’s anti-fossil fuel polices. Food and housing prices are way up. Agriculture is a major user of energy, and many fertilizers are derived from fossil fuels. And those increasingly expensive loaves of bread you see on the shelves of your local supermarket don’t arrive there by way of osmosis, nor by electric trucks.

But don’t worry, Biden recently signed the Inflation Reduction Act into law. Insert The Simpsons’ Nelson Muntz “haw-haw” here.

The new car shortage has led to a used car shortage. All vehicles are more expensive. To fight inflation, the Federal Reserve, continues to hike its key interest rate, which drives up all lending. Most people don’t pay cash for cars, they finance. 

Then there is housing. Maria Bartiromo, on Fox and Friends this morning, laid the truth on the line when she said, “People who are going to buy a home are realizing that their mortgage payment now going to be going to be hundreds and hundreds of dollars more than they thought every month.”

Okay, no big deal, you might say, “I can always rent a place to live.” But rents are up too.

Now, if you are a Beltway insider, then you need not worry. Washington is recession proof. And the capital’s response, particularly when Democrats are in charge, is always more government. If you are a DC insider, you are well paid. You’re not sweating about food prices going up and you can afford an electric vehicle and the expense of installing a car charger in your garage.

The only known cure for high inflation is a recession. Despite Democrats’ creative denials, we are in one already.

Expect our economy to get even worse.  

But to paraphrase Ronald Reagan, “Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Joe Biden loses his.”

John Ruberry regularly blogs at Marathon Pundit.

One of the reasons why the left is so worried about Elon Musk taking over twitter is that censorship of the customer only works if everyone is going along. If there is no well traveled public platform where the word can break out then you can’t control the message (which is why the left took Trump rallies off of TV).

It’s even worse for a business. If you’re business model involves trust, ie the public trusting you with your money, the people need to know that:

  1. Their money will be available when they want it
  2. You won’t steal it

Apparently Paypal’s new “I’m going to take your money if you say or post something we don’t like” policy tends to violate that basic rule.

The report sparked outrage online, with many people tweeting pledges to dump the online payment facilitator. Particularly chilling was the fact that the policy said determinations of what could be deemed “misinformation,” or a threat to the “wellbeing” of other users was to be at the “sole discretion” of PayPal. The now-aborted policy said users could be liable for “damages” — including the removal of $2,500 “debited directly from your PayPal account” per offense.

And once you get a few high profile people with 3.1 million follower like this:

Or someone like this:

the real comedy is that Twitter attempted to hide this tweet so I could not access via Elon Musk reply

Or to put it another way, even with Paypal claiming this was an “error” and insisting this is not a pending policy if that was YOUR money would you trust it in these people’s hands?

Marcus has 100k followers Musk has 108+ million if only a tiny portion of those people say 1 / 100 of 1% decide they do not trust paypal what do you think happens?

Can you say “Bank Run”?

I suspect Paypal is going though the online equivalent of a bank run and I also suspect it’s not going to stop over a retraction, particularly if there are alternatives to paypal out there that people can use, from Donorbox to Glorifi that do not take your money if they don’t like what you say or think.

Well the bottom line isn’t pretty because Paypal is about to discover the 2nd lesson of dictating how customers should think or else.

It’s much harder to regain lost trust then it was initially to build it.

Closing thought are paypal deposits FDIC insured?