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axios159 karma

You mean the House hearing, I think. My guess is that ultimately probably nothing will come of it. Although I do think it has served to hurt the reputation of Vlad Tenev, who did not come across well. So maybe that might at the margin hurt Robinhood's valuation when it goes public.

axios101 karma

Do everything you can to help state and local governments, which generally have to balance their budgets and which are facing massive shortfalls in tax revenue. Don't force them to lay off good, important workers just because of fiscal reasons. Quite the reverse: Invest in things like local education, transit infrastructure, etc. Those investments pay off enormously over time, and create good jobs today.

axios100 karma

It's becoming an increasingly popular name! I love it, and sometimes in the Before Times I would even have Felix dinners at a restaurant named Felix in Manhattan, with other Felixes. In my day it came with a bit of teasing but once you're out in the world it's memorable and fun. And it has a great meaning.

axios80 karma

Me too! It is incredibly effective in its own way, but it definitely suffers from one of the greatest weaknesses of brutalist architecture in general, which is that it's hard to *evolve* a building. Once it's built, it's just there, and very hard to change with the times.

axios78 karma

My main thought about microfinance is that it doesn't scale well. It works *incredibly* well in rural areas where women have no real ability to find a job, and it can give them working capital to become, essentially, micro entrepreneurs and to do important (and often life-saving) consumption smoothing. But in cities it works much less well and for people with jobs it looks a lot like usury.

Also there's an omnipresent risk of payment strikes, which effectively destroy the model overnight. And there's no real way of hedging that risk.

Finally there's a lot of currency risk involved if what you're talking about is basically 0% loans in dollars getting turned into 30% loans in pesos. And that's very hard to hedge in a cost-effective manner.