Re: TL; DR
Feeling conflicted
The Archers would certainly change - no more authentic borsetshire gibberish.
Joe Grundy made his exit stage left at a good moment
RIP.
537 publicly visible posts • joined 13 Sep 2011
If you want no red tape, you need to fill in the correct form on the govt website as it is now blue tape.
Supplies of blue tape may be rationed in the short term and you need to apply to the local planning office which is in the locked basement of your local library which may or may not be open when you visit it.
https://www.instituteforgovernment.org.uk/publications/government-outsourcing-reform
Expecting to see some garbage from some alt-left|right wonktank, I was rather taken aback on reading the abstract.
This is not quite what I gathered from your article. This is most of the summary of the summary and there is very little there for me to ridicule.
...
It finds that outsourcing waste collection, cleaning, catering and maintenance services has delivered significant savings and benefits to citizens. Particularly in these areas, bringing services entirely back into government hands could lead to worse and more expensive services for the public.
The report also shows that consecutive governments have overstated the benefits of outsourcing. Senior politicians regularly claim outsourcing can still deliver 20–30% savings but there is no evidence to support this.
It highlights a series of high-profile contract failures – including security at the Olympics, welfare assessments, offender tagging and probation. These contracts have wasted millions of pounds, delivered poor services and undermined public trust. The outsourcing of probation failed on every measure, harming ex-offenders trying to rebuild their lives.
Consecutive governments have outsourced services with no market of good suppliers or in pursuit of unrealistic cost savings – and without a reasonable expectation that companies could deliver efficiencies or improve the quality of services.
The report recommends that the current government must strengthen its commercial skills and capabilities, makes ministers and officials more accountable to the public and improve the evidence base that informs outsourcing decisions.
Don't be mean about trump.
With just a sharpie and a piece of paper he can change the course of hurricanes.
Like McGyver but better.
Only a small step from that to the 7th planet in this solar system and then onwards to infinity and beyond at the centre of the galaxy.
Courtesy FT Alphaville 11/09/19:
We’ll leave you with this, a quote from Sun Microsystem’s founder Scott McNealy. Having watched the stock of his company appreciate nearly 14-fold during the dotcom bubble, and then collapse 95% during the bust, McNealy was bemused that investors ever considered paying what now looks like a rather diminutive 10 times sales for the computer hardware company’s stock at its peak in 2000.
Why? This is what he told Businessweek in 2002:
https://www.bloomberg.com/news/articles/2002-03-31/a-talk-with-scott-mcnealy
At 10 times revenues, to give you a 10-year payback, I have to pay you 100% of revenues for 10 straight years in dividends. That assumes I can get that by my shareholders. That assumes I have zero cost of goods sold, which is very hard for a computer company. That assumes zero expenses, which is really hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that assumes you pay no taxes on your dividends, which is kind of illegal. And that assumes with zero R&D for the next 10 years, I can maintain the current revenue run rate. Now, having done that, would any of you like to buy my stock at $64? Do you realise how ridiculous those basic assumptions are? You don’t need any transparency. You don’t need any footnotes. What were you thinking?
10 times sales…
… that made me think
Autonomy was sold for $12bn 18/8/11 and revenue to the end of the last FY – 31/12/10 was $870m
That is a ratio of 13.8 times revenue.
There are 110 houses in my road. Some of those houses are flats - another 60 or so.
6 houses and ~20 flats could charge EVs.
the other 144 households have no chance.
I think the real answer is electric busses - a proper bus network, not one every tuesday - more car rentals - and less car ownership.
Not sure why anyone is surprised.
Right now, if your bank is in a friendly jurisdiction, appropriate people can probably see what you have been spending money on. I suspect it is a relatively burdensome (rightly so).
IT / Technology exists to make things easier and cheaper - so with facebook libra appropriate people (by their definition) can probably see what you have been spending money on even if you are a dog on the other side of the world, just through an appropriate login.
if this gains a good share of transactions, Govts will love this because (as long as it is accurate) it would provide an almost real-time view on the state of the economy.
Thinking further, if that money is then passed on to another Libra user Facebook can start to develop a detailed map of worldwide money flows at a granular transactional level
For example you (joe) buy a widget from a small trader (jane) who sources those from a bulk importer (jose) who imports them from someone in china (jinjing)
If this was all in Libra and there are many such transactions, you can start to develop a map, much like the security services and telephones - except you have a bit more than metadata.
Now, with libra it may be possible to sell a list of joes to the jinjings
I am not sure whether to be horrified or buy Facebook shares.
I still have an X220 as that was the last one that had a _proper_ keyboard.
Very few people care that this thing is 2cm thick or whatever rather than 4cm thick.
chicklet is fine for entering the name of your favourite cat video, but if you want sustained use you want a proper keyboard
most of the target market for this will use the keyboard a lot.
(the new work laptop since April is a dell and ... I am still using the 8yo X220)
I was looking for a reason to post this link
https://www.bbc.co.uk/news/uk-england-leicestershire-49329720
"A woman said she was left amazed by an "extra special" Amazon delivery after a box of LED bulbs was apparently thrown through an open upstairs window."
The left pondians do seem to like their positive freedoms a lot.
- free to speak
- free to shoot
- free to drive
- free to be shot
They seem to be less worried about some negative freedoms
- free to not be shot
- freedom from illness - free healthcare
I would not criticise them, all cultures are a complex balance of freedom-to and freedom-from.
But when their leaders tell us 'this is terrible, it must stop' (*)
and then pass by on the other side of the road and do nothing, I get more than a whiff of false virtue
(* No, not particularly pointed at Trump, at all people over there in power who said ... it must stop ... and did nothing )
- Certainly in Asia (Korea / China / Japan etc) people have a phone and quite often no other device
- Young people who want share content irl
- people who want to be able to read that **** website who do not has 20/20 vision
Indeed massive.
They are not really selling to westerners age 20-45 who have a panoply of kit (probably a lot of el reg's audience)
no, I wont be getting one either - in my case because it needs 2 hands to use.
and i want to see someone else use it for a while.
Step 1
I think Rabinowitz's strategy is to try to establish that Lynch did read - and so know - things he has said earlier he did not know.
(Rabinowitz hopes to prove that Lynch knew Autonomy was fraudulently bulking out its revenues to make itself look like a tempting takeover target.)
Step 2
Building on that he can then say that he has had a controlling hand and influence over other things
(Rabinowitz hopes to prove that Lynch influenced or controlled the bulking out of revenues at autonomy)
Step 3
Then he can claim that Lynch committed fraud
... Looks like he is stuck on step 1
HP clearly paid too much for Autonomy
HP clearly did not do appropriate DD for a $12 bn aquisition
The HP environment was clearly not a good fit for autonomy
Autonomy flattered it's accounts - but at the time, a lot of people were doing that and it was not necessarily illegal at the time
I do see a lot of mud being flung, but I see no dirty deals done (yet) and do not expect a perry mason moment.
I think the judge will decide both sides are awful and he should get his life back.
"Computer-driven cars only have to be shown to be at least as safe as human drivers to be successful."
No
They have to be _much_ safer than human drivers
and
Regulators have to decide who is to blame when the car does kill someone.
If Tesla sell FSD as true self driving, well, it is not the passengers, is it?
Who goes to prison for mowing down that child on a bike?
This is just nuts:
Page 9
- Management estimates the underlying organic growth to be about 15% to 17%
-Target has maintained a consistent gross margin since 2009. Target expects the gross margin to decline slightly in the future with the growth in the hosting business
-Free cash flow after interest and tax is estimated to be slightly more than $200 million in 2011.
Page 14
-Target’s organic growth rate has declined in both its core business and overall business
- Target includes the results of its acquisitions in its organic growth calculation immediately after acquisition.
Page 16
- Target has $193 million of deferred revenue at June 30, 2011. The balance at closing is estimated to be a similar amount.
- Management did not provide detailed information to support the fair value estimate. As such, we have based the calculation on aggregate data and market comparables.
The hosting offer was growing but so was the capex to support the hosting.
------------
so...
- it is a profitable company
- growing about 17%pa and possibly slowing
- gross margins likely to fall
- red flags over acquisitions (not exceptional at the time tbf)
- red flags over deferred revenue (not exceptional at the time tbf)
as to the value...
I am not sure what an appropriate valuation metric would be but back in '11 the price - fcf ratios were
microsoft 3
apple 4
ibm 5
opentext 6-7 (competitor at the time)
unilever 8
autonomy
12,000m / 200m = 60 - clearly nuts
To me it seems HP management thought they knew something the world did not and paid $12bn for a ~$1-2bn co
- and later on it turned out they did not, and that made them sad.
The laws of supply and demand also apply in the digital economy. Tripling the supply of domain names should reduce the value of any single domain to almost zero due to oversupply.
Not true.
The value of $a_very_long_name_that_is_not_very_memorable_or_relatable_to_a_commercial_or_other_entity.uk
will indeed -> cost of provision
but
$a_short_very_memorable_name_commercially_useful.uk
will -> lots
not quite a veblen good, but sort of.
Manning was pardoned.
Then a grand jury was constituted. Then she was jailed for refusing to testify. Then that jury ceased. Then she was released for a few days.
Then a grand jury was constituted. Then she was jailed for refusing to testify.
This is the nature of asymmetric 'justice' (well, it isnt really justice is it)
$ millions spent on prosecuting Assange / Manning
$0 on even investigating the things she leaked.
I used to think spending £191m on the Saville / Bloody sunday enquiry was wasted, but now I see it as a tribute to the quality of justice in the UK. Might not have made the republicans / army etc happy, but at least they had a good look at ourselves.
Hopefully there is enough 'cruel and unusual' in the US's treatment of Chelsea Manning - effectively imprisioning her until she agrees to testify against assange that the judges will stop extradition without this having to go to a politician.
No prospect of fair trial etc.
Land of the free...
... yuh.
I think the problem is that for a very long time, the American legal system has been stating that it is the American "justice" system.
There is a lot of evidence that this is not so but it is usually about poor people.
We are seeing the latest piece of data now because the defendant is v.v. rich - and white.