Sometimes (often?) the logs say it best. Ima just adnotate lightly :
ben_vulpes: Also acquired a few new G5 towers. Get ‘em while you can, folks. Well, ‘new’. New to me.
mircea_popescu: What, towers are disappearing ?!
ben_vulpes: No, specifically the Macintosh PPC G5’si
trinque has several piles of that hardware here too. The Minis are also nice to have.
ben_vulpes: With the forth based firmware, etc. I’m sure Stan has all sorts of shade to throw. Nevertheless, I have good money that says these machines will be plentiful and cheap until they are utter unobtainium.
a111: Logged on 2016-06-16 21:34 asciilifeform: it was an interesting arch
mircea_popescu: Imagine if in a few years the actual fucking chunks of metal are the point of worship. “Oh man, that’s tech! Who can make straight angles anymore!” Sells for 7k funbux on the ruby app.
ben_vulpes: Cases are very pretty at that.
trinque: Yeh, outside and in.
mircea_popescu: You’ve been inside ?!
ben_vulpes: Golden era of jobsdom.ii
mircea_popescu pictures 3 inch tall trinque.
mircea_popescu: It occurs to me, btw, that the scam whereby people who were holding Jobs shares were converted to Cook shares is one of the cruelest things in nature. “Hey, it’s still Apple”. Bitch… that is SO not Apple… “Well… the other guy died.” Aaaand this is my problem how! I bought Jobs stock not fucking wtf this is.iii
ben_vulpes: Bezzle land corporate structuring is just sad on every axis.
mircea_popescu: Pretty much.
ben_vulpes: Hacker nyooz recently realized how brokerages add slack to the market, twas a lulzy set of comments. ‘OMFG you mean to tell me there’s no centralized database of who owns what and owes who else which shares?’ To be fair, anyone who didn’t liquidate a week before Jobs’ illness hit the rags is a derp who got what they deserved. But you know how it goes. Traders, trade. Hodlers, hodl. Investors, what dat.
mircea_popescu: Yes, from an individual perspective. But in aggregate, worst case of confederate dollars ever. “We’ll take these 5bn shares of Apple and replace them with 5bn shares of Crapple. Because it’s ok hurr.”
ben_vulpes: Oh, come, he just organized the teams as what took the shellacking. Stood by, happy to not be in the hotseat.
mircea_popescu: Succession is a particularly dubious proposition. I don’t think there’s a case in history where the shareholders got their money’s worth.iv
ben_vulpes: Kill the old boss and take his chair.
mircea_popescu: So much so that it seems to me the whole model is fundamentally flawed. What “corporation” ? BS. WoT-style, one man.v
ben_vulpes chants blood blood blood.
trinque: “Our company” just like “our democracy”.
mircea_popescu: The delusion of a corporation has at its core the notion that “what to do” is a well explored space, and that “anyone” could and moreover in that position would be doing it. This works ok if the corporation does stuff Buffett understands, like fishing, or manufacturing chewing gum. Nobody gives a shit about that, nor can a model based on such examples be THE MODEL. And especially these days, when they don’t even own the capital goods in any sense whatsoever.vi
ben_vulpes: Buffet at least endeavoured once upon a time to buy firms with established mgmt.
mircea_popescu: Yeah, and guess why ? Because outside of the owner, the paper’s not worth jack.
It always comes back to who, innit.
___ ___ ___
- I have one right next to me, as it happens. They change hands for a mere $100 – 200 at present so the investment is hardly a financial imposition. The potential upside is considerable too. You just need where to store a dozen or three of the svelte aluminum boxen for the next decade and you’ll be well on your way to outperforming whatever index fund diversification scam you’re currently roped into. ↩
- We are, recall, Living in a Post-Steve World. ↩
- Indeed. See this Pete-centric AAPL timeline :
I realised a gain of 4000% in that time, which is more than five doublings in a 14-year span. Tempting as it was to exit the position in 2005 to buy an Audi A4 instead of the Mazda Protege5 I ultimately ended up with, I delayed gratification. And not for the last time.↩
- It’s left to the alert reader to prove MP wrong on this score. But a single example will suffice.↩
- There is only the WoT, no matter the field or discipline. ↩
- Apple is properly speaking a reseller of Foxconn products. Nothing more. And poor old IBM isn’t even that. ↩