Hear Ye! Since 1998.
12
Oct 10
Tue

  stuloh BSOD just ate up 30 minutes of my day. Grr...

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  stuloh Nick Denton, Gawker Media, and journalism’s future (New Yorker) http://post.ly/13fGy

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  stuloh US Healthcare: Why it’s time to panic (Incidental Economist Blog) http://post.ly/13edf

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10
Oct 10
Sun

  stuloh Trapping the Lord of War: The Rise and Fall of Viktor Bout (Spiegel) http://post.ly/13Kls

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Buffett on Taxes

No one likes to see taxes raised, but some more than others. Tax rates are at historically low levels, and the US has a scarily massive budget deficit. Here’s what Buffett had to say:

We’re going to have to get more [tax] money from somebody. The question is, do we get more money from the person that’s going to serve me lunch today, or do we get it from me? I think we should get it from me. I have a lower tax rate, counting payroll taxes, than anybody in my office. And I don’t have a tax shelter — I just take the form and fill out the numbers. I think that’s very wrong, and I think that if we’re going to get money — and we’re going to need money; we are not taking in enough money at the federal government level … it shouldn’t be [from] the bottom 98%. It should be more from people at the top.

Which sounds reasonable. But then you scroll down and read comments like this:

What is the incentive to do better and develop yourself if the only thing you have to look forward to is a higher percentage of taxes if you do well in life. The way the middle class is going now, I would do better by earning less and taking what the government gives out. I am a proud taxpayer but I believe I already pay to[o] much and I am not even in the top tax bracket (yet!). By the way, I am still waiting on the IRS to send me some of MY money back, guess they are to[o] broke to pay me back.

…and you realize that things like this are a good idea. There are a depressingly large amount of those types of people in the comments section of that page (many of whom are arguing against straw men, and some people on $250k+ who simply don’t want to pay more taxes). Of course there are still other issues that need to be dealt with – but that fact alone doesn’t invalidate this argument.

  10:11am  •  Business & Finance  •  Tweet This  •  Comments (1)  • 

10/10/10

Thank you, that is all.

  2:06am  •  Life  •  Tweet This  •  Add a comment  • 
9
Oct 10
Sat

  stuloh G is for Goldilocks (Seed Magazine) http://post.ly/1373E

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Embedded lawyering

Alexander Macgillivray, Twitter’s General Counsel, on the role of in-house counsel at a startup:

I think one of the biggest challenges any lawyer has in any situation is the horrible reputation that every other lawyer has created for us.

So what I think a lot about is how do you have the lawyers create value and be part of the company? And that’s everything from superficial things – like I throw a happy hour every 2 weeks where I buy the booze and invite the whole company to come, right? Just so that they have some interaction with lawyers that isn’t us telling them “no.” And similarly it’s being very open. We have open office hours and we do lots of meetings with teams.

Less superficially what it means is that the way I think about lawyers is that they ought to be embedded in teams as early in the process as possible and they ought to view their job as just like any other startup employee as contributing to the user benefit that we’re bringing. Which means that I expect my attorneys to actually contribute product ideas if they have them. To talk about things that are silly not because of legal issues, but because they are plain silly. And I find that that type of engagement with product means that you understand a whole lot better what the product is actually trying to accomplish, which means rather than being a sort of approved, disapproved, stamp on a plan, you can actually impact the plan itself, which is a much better position to be in. And, more than anything else, you may even be able to say to somebody, “Hey, the way you’re planning on implementing – not great from a legal perspective, but you could get even more user bang for the buck by doing this other thing that is also a lot less risky from a legal perspective.”

So to me—and I actually created a group at Google, Product Counsel, that’s now being implemented in some other companies, and that whole purpose of that group was to make sure that we were sort of embedded in the sort of press and wrap [unintelligible] with product teams, so that we were a part of those teams, and we could be more useful to those teams than just, you know, stamp “approve” or “not approve.” And I think that’s really important particularly around where the legal and ethical issues join, where you’re also often looked at in a startup environment, as a lawyer, as being part of the ethical backbone of the company. So making sure that you actually have a voice heard in the development process is extremely important.

Macgillivray manages the User Communications Team (4 people), the Trust and Safety Team (22 people), and the Government Relations and Legal Team (4 people) at Twitter. This is an excerpt from a talk he gave at Santa Clara University on October 6.

  11:50am  •  Law  •  Tweet This  •  Add a comment  • 
8
Oct 10
Fri

  stuloh Everyone's suing everyone: the web of mobile device patent infringement cases (Information is Beautiful) http://post.ly/12gxY

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7
Oct 10
Thu

  stuloh In The Social Network, Saverin turns up to Zuck's Palo Alto house in the pouring rain. But, it doesn't pour rain in Palo Alto in the summer.

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Waiting for Superman

Saw a screening of Waiting for Superman tonight. It’s a well constructed documentary which looks at the state of the American public primary and secondary education system. Some of the revelations in the movie are startling. The biggest one is that high school teachers gain tenure after two years of teaching. That’s right – what it takes university academics years and years to attain, high school teachers get in only a couple of years. That assures them a job for life and the rationale behind this isn’t entirely clear (for university professors, the theory is that it allows them freedom of expression and freedom to pursue whatever interests them, free from the risk of being fired for political reasons). This means that even the worst of teachers can hang around – some are shown to read newspapers while their students shoot craps in the back of the classroom. This bottom 5-10% of teachers has a disproportionate and devastating effect on the overall quality of education American kids are receiving.

Public school teachers are also paid lock-step: the bad teachers get paid the same as the good teachers and union contracts prevent them from being paid otherwise. Interestingly, the teachers’ union emerged as the villain here – under the guise of “promoting harmony” among teachers for the sake of the children – they steadfastly and stubbornly stick to the status quo. Their argument is ultimately unconvincing, because they’re all talk and no results. Clearly, when things are declining or not getting better, you need to change what you’re doing. Yet, the intensity of vested interests prevents this change from happening. The documentary makes a great observation – the focus has shifted from the children to the adults, no matter the rhetoric being overlaid by the union.

This problem is of course seemingly endemic in American politics. Intense partisanship means opposing parties seem to always fight tooth and nail to maintain the status quo. Call me cynical, but even when things aren’t working, a party opposing a proposal will do their best to stymie the other side. Not because the other side’s views are worse, or even because they think the other side’s view are worse… but simply because they are the other side. It’s the ideology of extremism – of black and white, all or nothing, with us or against us.

The movie closes with a lottery, where underprivileged but endearing kids try to get into better public schools via a lottery. The odds are stacked heavily against them, and most walk away empty handed. Why should getting a decent education be a lottery? See also this review in the New Yorker, which raises some thoughtful counterpoints.

I went with a friend who had a unique educational background himself – he arrived in America without knowing English. On the first day he lost his wallet, containing all his cash and ID cards. He overstayed his tourist visa. Working a full time job, he somehow put himself through community college, worked his way up through an associate degree, and then a bachelor’s at a state university. His job also had to support his brother and mother, who were staying with him in a small one bedroom apartment. He ended up with a full scholarship at Stanford where he’s working towards a PhD today. Each week, he spends half a day teaching at schools in the area – he’s taught in the affluent Palo Alto High School (“Paly”), as well as Charter schools, and “tougher” schools in East Palo Alto and San Jose. We had a long conversation afterwards in which he painted a vivid picture contrasting the vast differences in schools which are only miles apart.

The bonus part about the screening was that it was arranged by John & Ann Doerr, Mark Zuckerberg, Sheryl Sandberg and Dave Goldberg, who were all in attendance. It was an interesting crowd. Zuckerberg gave a little introduction, opening up with the line: “I’m not recommending people to go to the movies much these days, but…”

  1:13am  •  Movies  •  Tweet This  •  Add a comment  • 

  stuloh Confessions of a used-book salesman (Slate) http://post.ly/12RcI

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6
Oct 10
Wed

  stuloh .ly domains can get deregistered by NIC.ly for breaching Libyan Islamic law - I wonder if bit.ly is feeling nervous http://bit.ly/dgWXqj

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5
Oct 10
Tue

  stuloh Twitter's GC, Alexander Macgillivray, talking about legal stuff inside Twitter #htli http://twitpic.com/2v085e

  7:01pm  •  Tweet  •  Tweet This  •  Add a comment  • 

How fake money saved Brazil

Twenty years ago, Brazil was undergoing a bout of hyperinflation, with prices increasing at the rate of 80% per month. The story behind how they brought this under control is a fascinating one, and it relies less on pulling on the traditional economic levers and more on psychology (which is pretty much behavioural economics).

The four friends set about explaining their idea. You have to slow down the creation of money, they explained. But, just as important, you have to stabilize people’s faith in money itself. People have to be tricked into thinking money will hold its value.

The four economists wanted to create a new currency that was stable, dependable and trustworthy. The only catch: This currency would not be real. No coins, no bills. It was fake.

“We called it a Unit of Real Value — URV,” Bacha says. “It was virtual; it didn’t exist in fact.”

(Hence why Brazil’s currency is today called the Real.)

  6:03pm  •  Business & Finance  •  Tweet This  •  Add a comment  • 



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