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Comment Re:Why would Putin fear Clinton? (Score 1) 535

Again, you can't judge business success by wealth itself, only by ROI

I'm not judging the business, I'm judging the man. The ROI on the the business maybe for 4M, but the ROI on the MAN is -1M.

Its meaningless to draw arbitrary boxes and look at them in isolation... what's the total package?

A business that *needlessly* flies around its executives on private jets. seats them in gold gilt chairs, and is wasting money (see definition of "needlessly").

A businessman that owns a business that is run responsibly, who then flies himself around on privates jets, gold gilt chairs... etc... is the same thing at the end of the day.

What are you suggesting? A person who is really great at making and managing money... until its his?

Comment Re:Why would Putin fear Clinton? (Score 1) 535

The other turned $150M into $100M while living an indulgent life making it to age 70. Do you think the later ex-athlete a business failure?

A business failure? Yes. Absolutely.
Successful at life? Also yes. Absolutely.

If you want to tell me Trump has led a pretty fantastic life, sure, I won't argue that. But don't tell me he's a great *businessman*. He's pretty mediocre at business, at best.

Comment Re:Why would Putin fear Clinton? (Score 1) 535

IF I understand things correctly each project is usually a different corporation. Different investors for different projects, one failed project won't impact other projects, a failure doesn't impact anyone personally, etc. Basically look up all the reasons you want an S-Corp or LLC rather than a sole proprietorship for your own business. I think his bankruptcies are several of these projects failing. If only several projects failed out of dozens he's doing pretty well.

Quite so.

However, if trump had merely stuck his inheritance money in a market ETF and then fucked off to play golf for the last 25-30 years, he be 3x-5x as wealthy as he is now. (the variance depending on just how much you believe he's actually worth now.)

25 years of 'projects', wheeling and dealing, real estate, steaks, wines, universities, casinos.

My own simple investments have done better than Trump over the last 2-3 decades.

The only difference between people like me and Trump is that Trump started out with a couple hundred million, and I didn't, so even earning wildly sub-par returns he's STILL a billionaire, and I'm not.

Really, how much success do you want to attribute to a businessman who trailed the market by THAT much?

Comment Re:Think of the children! (Score 2) 35

It's not just "these sites".

These are the bottom feeding scum though.

Must gambling businesses are subtle or outright frauds

No, not really. Gambling businesses don't need to cheat or commit fraud to win. That's built into the business. A slot machine in Vegas is a ripoff; but its exactly the ripoff it discloses itself to be. And its independently tested to make sure it pays out exactly the odds it says on the label.

These gaming gambling sites take all the advantages that are built into being a gambling business... and then they just outright cheat. Rig games for insiders or themselves. Lie outright about the odds. Etc.

Oh... and they not only let kids play, they market the sites them *directly*.

At the very least they need to be cleaned up (regulated) so that they rise to the level of legitimate gambling sites.

Take a very good look at how "high speed trading" works to get a sense of how much of stock market funds are sucked right out of the business by larger companies that can afford the "insider information' that a few microseconds of lead time on stock announcements provides.

That's really a separate discussion. But you are right, and its pretty easy to measure. Every dollar an HFT trader/algorithm extracts in profit is a dollar taken away from the retail buyer and seller. Every single dollar they make is essentially stolen in my opinion.

But again, nothing to do with gambling in general or steam in particular.

Comment Consider a Spherical Cow (Score 5, Interesting) 486

Ecomonies are not a collection of processes all known. They are a collection of agents, mostly unknown with hidden internal states. Another way of saying this is that gathering information for centralization cost money. Economies process that information at many local and global levels and don't share it past the point of economic efficiency. That's in an idealized system. In an non-indeal system there's even wrong ideas.

A classic example of this is the maxim that the bad apples drive out the good apples. Meaning if you can't tell the difference between a good tasting apple and a bad tasting apple from the look (without tasting it) and if it costs less to produce a bad apple then the good apples won't sell as they are indistinguishable. In order to sell those apples you need to incur some cost. Do something that actually raises the price or lowers the profit like constitute an apple certification board, and set up a set of agents to test apples regularly for different farms, and persuade the consume your certification is valuable by giving away free taste demos. Otherwise there isn't information available to make a decision other than price. A similar thing occurs in how bad (debased) money drives the good (full gold) money out.

You can create systems to optimally manage agent based systems. Interesting there is work now that shows how denying information to consumers can increase econmoic efficiencies as well. This should come as no surprise to people familiar with Braes paradox in traffic control.

One of the core faults of communism is that while it can achieve some good results from linear programming notions of optimality is that it ignores that capitalist economies actually are information gathering systems that are very efficient).

Comment Re:Oh please! Just stop (Score 1) 29

Ah yes, hindsight is such a wonderful thing.

It is, isn't it? Shame it's got nothing to do with what's going on here.

Yet you still misread.

Tut tut. You're already on record as being solely responsible for that shit as your communications skills are so poor. But of course, you're not big on personal responsibility, so easier to sling shit than admit you're a weak ass troll.

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