35 Burst results for "Blanche"
"blanche" Discussed on Merriam-Webster's Word of the Day
"Power to bring kindness where it's needed. It brings out the best in every one of us. It doesn't just see people. It takes time to understand them. It puts the needs of others ahead of its own. And when you start with care, you end up with a very different kind of bank. Truest. Truest bank member FDIC. Today's word is carte blanche, spelled as two words as it would be in French, CAR TE space, CHE. Is a noun. That means the permission to do something, however one chooses to do it. Here's the word used. In a novel called carte blanche by Jeffrey dever. I know you're used to having carte blanche to handle the mission as you see fit 007, you have your independent streak and its served you well in the past, a dark look, most of the time. The term carte blanche is much like a blank check. In French cart means document and blanche means blank. So the phrase means blank document. English retained that literal meaning a carte blanche was a blank document, signed in advance by one party and given to the other with permission to fill in conditions later. Much like the term blank check, carte blanche, also took on the extended meaning of complete freedom..
The Fact About the Nation's Debt
"Actually had two senators call me today And thank me for my monologue on life liberty and Levin how I cleared up this whole issue of the debt And how the nation will not Avoid paying its debt That is unless the president of the United States chooses to do that which would be unconstitutional under the Fourteenth Amendment Just remember we bring in the government brings in rather $320 billion give or take every month The debt service every month is $44 billion So you can do the math $44 billion is the debt service $320 billion is the gross that the federal government brings in from all sources So there's more than enough 85% or so left To pay for social security which is to be paid Medicare which is to be paid federal pensions and other veterans which are to be paid And there's other issues in there too that are to be paid And the rest they have to debate over And what the Democrats have said is we don't want to put a figure in there We want to go into December 2022 with no cap on spending whatsoever So the Republicans said number one there's no reason to default on the Dutch as pay it Pay the debt service and number Two we're not giving you carte blanche Now those are the facts you won't read them in the New York slimes of the Washington compost It won't hear them in the constipated news network and you won't hear them on MSL SD Nor will you hear any of it on NBC ABC or CBS
"blanche" Discussed on The Joys Of Binge Reading: The Best in Mystery, Romance and Historicals
"I'm not thinking of writing anything not i enjoying that time. Yes i am. Because as you'd be aware a riders laws is locked by yourself staring at the size of the screen all day for the part of the day. Sasha lies is very very restricted. And i'm having rural right fab lunch and shopping in catching up with all my old friends from As early twenties on really loving did fantastic match. It really is so. Do you do entertain chatting with your readers online. Do you do any sort of engagement or are you doing some promotional These the slightest quadrille gio heavy. What type books. How can people find you if they want to look. I done do chatting online. I've win social media. I into the universe. I had a good located. And i told that is not for me. I'm going nowhere near it. So all i do is eight miles and people name. i'll man all email back old. Like rodman all right back by identity chatting online. I don't do blogs any of that sort of thing it just it. It seriously doesn't appeal to me. The thing is jerry was in the public. Our great dale was also the yeast trolled Before social media. And so it absolutely put me off. I can totally understand that actually. That's lovely that's wonderful. We'll look thank you so much for being with us today. I really salute with that. That the five books series. It's fantastic thank you. Thank you jimmy. I'm grateful. Thanks for listening to the joys of finch reading podcast you can find all the details and links for this episode at dub dub dub dot the joys of binge reading dot com. We'd love to your comments and suggestions for who you'd like us to interview nixed and if you enjoyed the show take a moment to subscribe on. I tunes or a similar provider. So you won't miss out on future guests. Thanks for joining us and happy reading the joys have been reading. Podcast is put together with fantastic technical help from dan. Cotton and abe raffles. Dan is an experienced sound and video engineer. Whose radiant available to help you with your next project seeking out at d c audio services at g. mile dot com that steve. Daniel cpa charlie audio services ex. Gm out dot com or check casher nights. He's fast he takes pride and getting it right and he's great to work with a voice. I was done by abe raffles another. Gm of sound and scream has twenty years of experience on both sides of the camera slash mike refined as a cameraman director and also voice artist and tv presenter. I think you'd have grey that. His voice is both lighthearted and warm. He is super easy to work with. No matter what the job you'll find him at a a b e anche point and shoot dot dot insead as i say the full details in the show arts on the website. That's it for now. Thanks for listening heartfully. See you next week.
"blanche" Discussed on The Joys Of Binge Reading: The Best in Mystery, Romance and Historicals
"Burden cathedral which of course poured a great day lives or do either henry the second but now he's being looked at again more seriously and a what he shaved was truly astonishing yet. The perennial question. That i like to ask. Everyone is ones and when you're looking at your writing career sig singling out to right and career is once you've done that you expand the secret to your success a very price like a pain well financially supported initially by my first husband and main by the literature literature born and they in by my second husband and because without money. It's very very hard to ride all. You've got to have a fulltime job immoral fulltime job and rise in the magic 's of your time but i was fortunate in having to main and the anti-government willing to support my writing. Look it's wonderful that you're so refreshingly honest about that. Because i've been doing these podcasts. Now with with nearly done two hundred and if the ones that i've picked up over that time although we never really talked to wrigley about money is how many of these authors who write and terrific books and some of them are you know get onto the new york times bestseller list but most of them are not really making a decent living out of it and i saw the other day that ninety percent ninety eight percent of the fiction books published by trade publishers sal less than five thousand copies. Now you can't make a living on that kenya are you. Cannot slight you need money from elsewhere and for example the strike is based on raj because he won the nobel prize at wide had huge private income. He was a member of the squadron. Cruces we call rich Here and the literature. I don't know how it is in new zealand. But they literature board has been enormously important to was allowing them to kate going. Yeah that's correct in otherwise they just give up because you get to todd. Writing rubbing texan enormous amount of energy psychic energy. And if you've if you've worked full time or you've got you're looking after kids through woman or man for that matter is ties and trying to ride you. Just it's just too exhausting in your titan a very long while to vote yes. It's the thinking of yourself that twenty year old in asia and and considering life today has it unfolded the way that you expected. Have you got unfinished business. Still is i have i want to. I traveled an enormous amount. Not believed in a number of countries. But i really wanna travel boat. We just now impossible for few years. But i'd like to say a lot more of Which is possible. They impossible at the moment right at the moment. Salvage is closed. Its borders to people from certain parts of sydney including where i live in a day. But i think that i have as we get more That will as often more travel will be. I wouldn't mind falling in love again. Wonderful blanche lafayette's gorgeous look turning to blanche as reader. We always liked to do this. Because this is a podcast where we try and suggest to people. Books are going to love books in not wanting to put down. What are you reading at the moment and heavier ever in the past or now being binge rita look the the second pot i. There's arnie well in the distance. I've binged raid lots of old when i was learning to ride you. You have to rate a lot to be able to ride and vast not poll on. I read every single thing that a road until i got the hiding. I more racist Bred everything by michelle coil bake who is a same spain absolutely awful man so as not cold but gripe gripe rises and i'll just finish welbeck's But the old thri do like binge. Eating is not so those two guys is robert arabs. Who i think's fantastic as trilogy on. Cicero is magnificent. Well it's it's yes. goes strokes until julius. Caesar is Is is and has cicero murdered but it. It's a really move. I will read anything. That robert harris rocks antagonistic. And what are you currently reading. On currently rating two books. One of them is actually bond friend of mine is a city for If i can say that a cold al clock he might have famous. Movie is producer Priscilla queen of the desert. Oh yes yes. He's re this is he's first Cold time flies and in growing up in spite nevada. Any just started that and the other book that i'm very much enjoying the moment is in english. Hang on. I know in prayed a far of joy which is eighty poems to be ended this. What's his title he poems about. Id poems to be got by half by heart and joy and they chosen by the Rate simply done brilliant. Brilliant polymath clive james just rating. So every night. I'm writing some poetry and plot james's comment on that poetry and the sanctum rating. Al clocks memoir wonderful. Are you tempted to memorize any of those bonds on trying difficult. Listen something that you. Let's go like off on. Demand is looking becoming to the end of our time together circling around looking back down the tunnel of time. If you would i ever again and we now stone referring to your right and career what you change if anything. I would have read a lot more than i did. Before i started writing and i would have read a lot. More poetry interesting I heard podcast just recently. Marianne faithfull weeden romantic poets. I must have much. I haven't had a chance to listen to her do it. But she had a whole section on this podcast that i listen to where she's reading romantic part so it seems to be a thing this poetry thing. I was aware of that myself. Yeah look what is nicks the blanche the writer. Have you got any ongoing projects. At the moment. You're taking a breather. After the some magnificent work sages cooling so describing it. I am taking a break. Because i had breast cancer last year i decided to hike traded for months of the year. I've decided to take all of this year off and my brightness absolutely vacant as so i.
"blanche" Discussed on The Joys Of Binge Reading: The Best in Mystery, Romance and Historicals
"Was fantastic really as a character now. The spiritual the spiritually speak for all of these key characters with quite strong thinking of pain. Rian hamlin and the scotsman jobless they all had experiences where mr cogan wisdom was impacted to them at key moments we may have to make crucial decisions. And i read an interesting thing that you say that mr schism was very much pageants life on this time in a way that it isn't in our time that we tend to maybe dismissable but took twice a little bit about that. Did that come through in the records as well. Well look in the histories. That i read. It doesn't accept every now and again the band implication of something and ayla nodes though is certainly with eleanor. She had mystical experience a particular mystical experience when her eldest child was killed. But the thing to remember is we busted judge the past by contemporary standards. The past really is a different country and the church and mysticism was integral to. They live and integral to the books. Today stories. it was it was real name. Well for example what you call it relics of sites now they were taken absolutely seriously and indeed di di did a lot of the time curiel mises and arranged marriages do all sorts of things that people pride to them to do. But you must remember that placebos. They right now in the twenty first century. Sebok's will have thirty percent chance of success loud. Nothing incurable illness. So i see that the way they never mystic mystic a belief in science. And plus the buzz. Somehow so really. That's that's the point making name. Yes and you remarked. That you have quite a strong spiritual practice yourself and i wondered if you would be comfortable telling us a little bit more about that aspect of your life. Yes show. I went to live in java when i was young. Twelve only twenty two which is thousands of years ago. Close and if those one adjective that you would apply to the job unease back then. It was the the mystical and so i had my first experience at all experience mysticism weigh-in. I was twenty two. When i spend a lot of time with javanese sticks and that led me when i was twenty eight to start made a end since they not have made automated on enough for up until now that not the thousand years so i guess i'm very familiar with with mystical things. Saw my spiritual experience comes through. Abedin coma a christian. But i don't guys lady church. But i'm still an absolute christian and i when i meditate. It is through what i would call the cross one. Yeah by the people and it's not the sort of cross said in the actually described in the bible. It's an energy so yeah yeah. I'm just confused you more no. I thought to guide to say. It's not the christ talk about in the bible about in the us. Well that to look at a lot happening on your private life over this period that you've been writing these five bucks. I sent probably some of that time. Bob's health was declining on you. A helping him through his fine what he is and also then towards the end. You had the personal challenge of brisk can't possibly when you were finishing the last book the cavs raw and i wondered if these books had become some sort of an escape for you or were they particularly hard to fit. Finish under those circumstances. Look at what had to finish. Because as you would any fiction. Ron eights. Not you have to pay to get the discipline. Deriding laid discipline Divided to do it. It's such a pleasure. It's to go into another whoa. So yes indeed are used to in bulbs. Vinyl years are used to go off to work very happily to not to skype from him in any way because we adore each other so much he had a carer in the us usually still sleeping on went to work. And then i'd i'd have five one of allows back in the twelfth century. They get my car and drive into the twenty extend yes outworked. Yes is turning away from talking about the specific box to your wider career. He henry and eleanor. Obviously we preoccupied by this idea of legacy building mona but who succeeded them and how they were going to be. Viewed was obviously important to them on wondered how important a sense of legacy was to you. And what helps you head to leave. What sort of legacy if it does mean something to you. Look i think. I've always wanted to share the knowledge such as these that i have with the papal because i went i was one of the early wives of the struggling to win to asia and always really came first books were offense novels. Set in asia and part of my first biography was said Took saw in indonesia and so it's been that active of sharing. That is what. I would like to leave as think of as a legacy and these books because they seem to come to me. Almost mystically almost challenge as a channel Able find them in name. A legacy to what lies in the twelfth century was do you think the plantation agents have become more interesting to twenty twentieth twenty th century people will as i said contemporary historians. Now reassessing henry. The second who was out of of a hell of a long time because of the murder baker and might side because of the Ani's ninth gone out of my head Midnight and winter wasn't none of murder. The cathedral wiggle is terrific movie. That was with pedro. Until and the last film might katherine hepburn of catcher in a that was moms wasn't a good. It wasn't an accurate polchard. Henry at all by i'm sure is our tool replied. That he wasn't he wasn't he wasn't anything like angry but enough have forgotten what was a ta.
"blanche" Discussed on The Joys Of Binge Reading: The Best in Mystery, Romance and Historicals
"Anglican. Actually yeah. Yeah it's fascinating when you see the picture that you presumed of baker in this book that probably if he hadn't have died the way that he did he would never have become site like he adds a own never indeed hayes. Reputation was in his lifetime with not good a bena financier. When he was young man before he went went into the church never became a priest. He was nine as oily tom. He was very very good finance and at rising money and he became henry's chancellor and was an outstanding johnson could get blood out of the stunt and deed for the king but then he saw a better way of advancement because he didn't come from an aristocratic family came from a fairly commonplace family. He sold the why of advancement was through. The channy vigorously climbed that ladder which was Smart young men decline and he was certainly very small. shoppers whip. Yes we know that. The founding pair of the plant agents were henry the second and his wife eleanor. Which and they were both highly gifted monarchs in their own. Right i think would be fair to say and also the children's certainly did not carry on that s that political savvy that their parents had and you can't help thinking if they if henry and eleanor had been beat. Appearance would the whole of english history. Be different from what it is now when you might think that right now but let me tell you. The back vein. Monica did not raise their own children. In fact very few of the aristocracy adid rice their own children in england at the horn fronts so that it was normal when a child was about between and six to be sent to another family to be raised. So it wasn't that they would ban parents. Parenting just wasn't done that. Why vein but initially i had a witness and they would be sent to somebody's household in the case of henry and eleanor. I said their eldest son to baker to rises. He's got child. So that's it's not an argument against his parents. Let's crank that's good because none of the sons really shaped up as being a suitable successor to the parents today. Well a in a why allow heidi Terribly richard fridge. The worst richard the line deed. He was extraordinarily brave man but he was foolhardy. He was hills having. Do we expect four of five. We night from his alma and so he he was very warlike very grave and he had the greatest body to very long island. Which if you're fighting with the sodas fantastic. Yeah but he. He only spent about a few months of his whole reign. Actually in england. Andy is just six months in england and never bothered to learn english. Yeah i guess he had some very is able administrators. There he did and that was thanks to his father who had really established the who created the odds of government of of being able to rule a huge a amount of land of own say on in england and then in france without physically bang present himself but having very good administrators in having established a civil service that would rule in the kings in the absence of the physical presence of the king and that was unique will endure henry ziegler invented. That here is look the books. just come. Alive is the most fantastic amount of what seems to me to be true detail in them. And i wonder how you married up your research and the fact and fiction side of things which is the challenge every historical writer. How did you find that balance. Well it's funny. But i used to find when i go in and sit down to ride a late heim an ugly little apartment where i road. I'd sit down. And it was as if i could save all honestly that i i'd i down a lot of research so i had a great deal of stuff in my head that it was the characters just absolutely. I'm alive for me as it were talk to me. Tell me what was happening in chugging. What was happening remarkable. They were two in particular. That really stuck out for me in terms of curiosity about the balance between the fact and fiction the i was. The young men stole that originally. That eventually became sir richard. The one that henry called the layout became his kind of fix of roy sorts of nasty problems. I think he was totally fictional. Was or was he based on anything real not. Hey was tiredly fictional bat. He was the sort of person at court here him every king needed so that he was. He was henry chafe of espionage and dirty tricks so of course he's name is such a name of such. A person is not going to appear in the historical records. Yeah some fictional but it was based on what one knows about the relation that makes us is a pow. Yes the other one was hamlin the earl of sorry. He was a real character. But i think you gave him probably a huge mazing back story. That was not their records. Would that be right. that's true. Yes my stroke. I felt a very day connection. With hamlin i could. I can absolutely say the whole time he is he. I mean richard. You couldn't help be pat pat. You know absolutely repair repulsed by him. But he naval lewis had his chance. But it's hamlin.
"blanche" Discussed on The Joys Of Binge Reading: The Best in Mystery, Romance and Historicals
"On pujols became this made with the twelfth century as a teenager but it took another fifty years before she was inspired to write a five book series about the first plan. Tangent king of england king henry the second and her superstar wife. Eleanor vet kwajalein. The what just women in europe at the time and between the two of them. Two of them is outstanding. Monarchs england has overhead. I say inspired. Because when she talks about writing the books the series she sees that she sat down at the laptop and just became totally immersed in the plant world for hours on end. Welcome to the joys of binge rating the show for anyone who got to the individ great book and wanted to read the knicks installment. We interview successful series authors and recommend the beast and mystery suspense historical romance series. So you'll never be without a book you can't put down. You'll find this episodes show notes a free e book and lots more information at the joys of binge reading dot com and now here's our show. Hi there i'm your host genie wheeler and today in the joys have been reading blanche talks about how the plan tangents are attracting new tension from historians after years of having reputations sullied by murder in the cathedral n. t. s. eliot slant on bigots murder but before we get to blanche just a reminder reading now on patriarch for as little as a cup of coffee and month you can't support the sharp and get fortnightly exclusive bonus content find out more on petrie on dot com forward slash the joys of bench reading but now he is blanche halliday blanche and welcome to the show. It is wonderful to have you with us. Thank you very much jamie really generous. You look you've had a remarkable career as a journalist and novelist and in public life s the wife of former australian prime minister bob hawke but today. We're here to talk about your latest masterpiece. The historical fiction series around the first generation of plant agent kings. The founding family who in various guises dominated the life of england for three hundred years. Now you've written a number of award winning contemporary literary novels in your early career but this is quite a departure in terms of being a historical work and also being more in the line of genre fiction. Drew you to this rank. Punctures family is funny. Eight annoy light chains always absolutely fascinated by the twelfth century. And i bought a whole lot of little books about it which have now disappeared from print for from a tiny little book shopping line in sydney and then also disappeared all the lines of being covered over in sydney. Just about and. I had a huge Ended up being a very big collection of stuff about the twelfth century. And i was when. I wanted to turn to writing again after a long break from writing fiction i i thought as one does when thinking of the twelfth century in great characters sort of richard. Richard i richard the lionheart and i did quite a bit of radio on him and then i thought i really i this guy just still do and so then onto a look at his father and that that was it. I started to read about. Richard's henry the second and i was totally hooked and indeed. Contemporary historians are now beginning to recognize that. Richard that henry. The second was one of england's greatest kings was the earliest plan tajik king and also one of its earliest schemes will united county in a wide. Really hadn't been before so there we go. Yeah i was hooked on henry. It's funny isn't it. As a little aside that richard has got that sobriquet the lion hat as he sort of something a chivalrous fantastic and annette certainly in your book. He doesn't come through that way at all. no. I will only got the title on hadi's after his death took on today. He was never known that while he was locked Now you say in the author's note to the young lion which is the first book in the series and tell us how the beginnings of how he in regards to the english throne. Bet the writing of it was preceded by what you described as a mighty gongs so those are used to go to the movies in the and sixties. There was gong that came on when a movie was coming on and it was kind of like you. My sounded as if it was some sort of mystical experience. That lead you to decide to stash on. This and i wondered how was the catalyst. What was the caitlyn that gong sounding will. It was really going back to my light tonight. Jeez this original fascination with the twelfth century and twelfth century people so that was that was gong chiming in my head. Yeah yeah yep. Look when. You went to france to do your research for this book. You mentioned that Because henry of course stood. Start at the french. Count on jerk. You mentioned the as the french rather different view of the second kind through the literature to what the english stood. And i wondered if you could just maybe tease out for us. A little bit. What those differences were yes. Short will a to start with. Henry was never a king of france and but perhaps more importantly than that he was a noman and if the normans were were vikings bicycling. That's how nobody was formed. The vikings used to come down and ride because the browns until they signed up side and said that the current the king of france gives a pace of county countryside. Oh we're to tight paris. The king wisely gave the normandy. So the the no-man's in the friendship never a hundred percent That's one thing but the other thing is of course. France is a republic and england is a kingdom and francis catholic and england is anglican and henry is rightly on the friday rock. You blind they murdered. Thomas becket who is a a revered signed among the catholics and every week there by sludge fringe Across the channel to go and say the spot in canterbury cathedral where beckett was murdered. So that's really. The the prejudice among french historians towards henry go sets injury that that pilgrimage to canterbury should still be going on today isn't it yes will he's. He's an important site trinity sunday. Which we've which has been celebrated quite recently was the dight that he made up himself. It was the diet he was elevated to be hit hit of canterbury cathedral and he declared it trinity on night and it's observed ever since by catholics and.
"blanche" Discussed on Les Bras de Morphée
"blanche" Discussed on Les Bras de Morphée
"Bouquet only new flow. The second to hosie branch nash echo she'd mommy and It create or keep but he come to law. Don't bionic Swell communist bay man these notion as insist unit if you'd like to go home equity to feel the couldn't we it Tenure to to help the macy awesome casual at As well sitting here we need a demand. The v to kill righetti shakes report hoshi homes and let the it settled data for not approve on. That's accosted noah untold. Oh soil free tampa seventy three new sumita bailey. I couldn't relate back to. He blush edge jesse that he lied. Semi looks allow nuclear shooting shooting the miss the cash push twenty poof pontiac puncak the cinema debris lita and who's a who's coveney most noodle neck santos you elect pushing to sue lose sequeira opinionated and daily a year to sit on physicality koinouma days city sexy possessory to image every exit toot in italy. Lupone every multi do. Don't return it to the gate. Teague on years later he s Fan collision told yachties Seem he knew to baffert cushy. He's still only high celebrity. You move it liquidity yield. You've let the east so donny. Bwa town selenium at patio to suzhou in shaker. Soi and sit on the eliza foege aware victory. Tokyo volley to me as a result. Kunle meet the advocate daddy counterparts. Ocd too could to fusion. Who the loss teatime attorney jamal. Asian polity let you talk tableau news your focus. You gap dmitri so completely. Michelle complected visually lisa. Faucet hysteria. Look so prove works of thatch me. The prison could soleil issue sati idea. I'd have my hold sakib. Cash is more data. Mia blush it taste to lose completely. You see. Shop relocate could lead to success apple mazing only tape yasu spotty pretty dispel beyond to could lemay if not a tab at that too. He cushions key says she let the so-called capacity a new kasitah patina. He's if you advocate. Bob brown do hub. It-it-it's faulted allowed soution comoran apart inefficient. So fix ideas. You leaders ila kufuor lap not took disney hamels.
"blanche" Discussed on Les Bras de Morphée
"In these nonsense shamir easily kit. It won't do whose birthday the hose the hosa leather at it again. Molded fee killer samba. Who's cinema blanche. Kosher hose city litters offer leap. Repu- leap liberty soupy so l. e. p. lebo yer cooler mooned jemmy may blosser nez gag. They're it preto. Hoosier hose prevalent heat. Only it only show an sexually flare sleepy next state aluminium except may have. Would you now basilic too controversial. Sir senate tom. Kitt citerne halama to kill sauteed ensemble april nez disea- show Hose a. hose. Hip on talk. We've may take to divided sell ojibwa poker yet if we survived these anymore. Speak to establish a daily louis-yvonne.
"blanche" Discussed on The Dictionary
"The jaw is bone and then They i think they've got spine but other than that. Then they're all cartilage. It's its muscle lots of muscle as skin and stuff and then a lotta cartilage. So you don't you. Don't get much of a skeleton with fish like that next. We have cartload one word noun from the fourteenth century as much as a cart will hold and then maybe somebody can charge a cartridge fee to load up. The cart next is cartographer noun from circa eighteen. Forty seven one. That makes maps thank you to all of you. Cartographers out there for creating map so we know where we are going. Next cartography now n- from circa eighteen forty seven the science or art of making maps cartographic and cartographical are adjectives and cartographic isn't adverb. And this is from. The french cartography garth graffiti which is from cart that has an e at the end which means card or map plus griffey which means the suffix grafitti. And there's more at the word card it is making maps on kearns and the here we go with our last word. We've got two forms. It is the word. Carton cer t. o. N. like a carton of milk This is a noun. The first form is a noun from eighteen. Twenty five a box or container usually made of cardboard and often of corrugated cardboard. This is french. From the italian katona which means paste board. And then the second form of carton is a verb from nineteen twenty one transitive says to pack or enclosed in a carton and then the transitive says to shape cartons from cardboard sheets. So today we had carte blanche curtains jour cartel kartali has cartesian cartesian coordinate cartesian plane cartesian product carthusian cartilage. Cartagena skirt alanis fish. Cartload cartographer cartography and carton. Well i think. I gotta go with carte blanche there was. There were some good ones in their carte. Blanche how do you say that carte blanche Carte blanche i dunno. I just like the idea of you've got carte blanche. I have carte blanche to do whatever i want with. This podcast is my guest. I do this all by myself. And i can just do whatever have that power and i you know what. What are you have carte blanche to do. What in your life. You just have full control over. Has anybody ever given you carte blanche to do something to create something. What is that. let me know is that good. That's good okay. Thank you very much for listening. And until next time this has spencer dispensing information goodbye..
"blanche" Discussed on The Dictionary
"I. a. n. noun from fifteen twenty six a member of an ascetic contemplative religious order founded by saint bruno in ten eighty four the return eighty four and saint bruno founded the carthusian wins. I don't know if i said that right. I just felt felt like. I needed to get a song in there. this is from middle latin cardoza which means chartreuse Also the mother house of the carthusian. Which is near grenoble france. Did they say grenoble. Probably not they they say it much fancier so that is carthusian next. We have cartilage noun from the fifteenth century. You could also just say cartlidge cartilage or cartilage one a usually translucent somewhat elastic tissue that composes. Most of the skeleton of vertebrate embryos and except for a small number of structures is replaced by bone during ossification in the higher vertebrates And then there was an example In the small number of structures as some joints respiratory passages and the external ear. so What i think this is saying. Is that when you are in embryo before the bones are created your full of cartilage all the places where the bones would be. It's just cartilage cartilages. Like i mean it's what i just read. There's a second definition too but it's like It's not muscle it's not it's not bone. It's tough often very tough but not as tough as bone so the examples so after you go through i guess ossification is the creation of the bone When you are an embryo still Fetus after the birth. There are a few points. There are few places in the body where there is still cartilage and some of those our joints the respiratory passages and the external ear your ear. You know when you see the skeleton. There's no there's no ear on the skeleton. I probably told the story once before. But i'll tell it again. When i was pretty little We read the museum. What are the Was the field museum in chicago. And i said i said we. We saw some skeleton there some old dinosaur. And i said they forgot to put the ears on bush because years are cartilage. There's there's no there's no bone there i think knows your nose to is cartilage. That's why there's a big hole in the face when you look at a skull okay. So number. two cartilage a part or structure composed of cartilage. That's it for that next. We have cartilage. I think you probably see where this is going. Adjective from the fourteenth century composed of relating to or resembling cartiledge. Next is kurt to legend s fish. Two words noun from seventeen sixty nine any other class of fishes as of as a shark ray or chimera having the skeleton composed of cartilage and then compared to the synonyms bony fish and jollies fish. The class name is contrary con gun. Cotton kondracke fees. I think it's something like that It starts with a c. h. So yeah i mean sharks. I know for sure sharks. You basically see when you see a skeleton of a shark. it's a big skull which is mostly just a big jaw..
"blanche" Discussed on The Dictionary
"Three a combination of political groups for common action. This is french again. it means letter of defiance. It is from the old italian cartel which literally means placard also from carta which means leaf of paper so they put it on a leaf of paper carta cartel cartel but they are very defiant when they write it next we have carta lies with an s. e. it is the british variation of carta lies with a z. E. which is our next word is a transitive verb from nineteen fifteen. Carta lies to bring under the control of a cartel and cartelization is a noun next. We have cartesian. We're gonna have four cartesian. Words capital c. a. r. e. s. a. n. adjective from sixteen fifty. Six of or relating to rene descartes or his philosophy and cartesian is a noun a cartesian. Ism cartesian ism is a noun. It's interesting that They didn't take his whole last name. It's not day cartesian. it's just cartesian. Maybe the day means Like of kartez something But let's look at the atom analogy. It says it is from purchase. Which means descartes. Probably in french or something Let's see. I don't think that they're going to get into this Rene descartes i believe he was the philosopher. Who said i think therefore i am So essentially the what he believed to be the case was that. If you have the ability to think consciously and to be aware of your own consciousness than that means you exist but are cats aware of their own existence. Do they think the way that they we do. Some would argue. Probably not but does that mean that they don't exist. I would disagree. I think that they do exist. Even though they can't necessarily think about consciousness the way that we do so i don't know if he was so right there. I think there are other philosophers who sort of use that as a jumping off point and came up with some better stuff but correct me..
"blanche" Discussed on The Dictionary
"Hello words welcome to the dictionary Okay so today is february twenty seventh. Let's see i'm using I'm starting to use a wikipedia for this. What's going on today thing because you get more information But i think i might actually use both. So let's see in In the us it is republic independence. I'm guessing that's also you know. Maybe in the dominican republic with that may be a place yes it is independence day From haiti in eighteen forty four It is let's see it's christian. Feast day there's a bunch of stuff that it is the second day of i am. Oh it's from the baha'i faith. The the behi- world headquarters are literally like a couple miles from where i live so That's that's this. I don't know what that holiday is but you can go look that up in vietnam it doctors day so yes let's celebrate some doctors in south africa some afrikaners Celebrate maja day in india. It is marathi language day. It is world n. g. o.'s day. What is ngo stand for in this case Ngo maybe i should have looked this up beforehand. I yeah ngos. they're just there are thing. I don't know. I've heard of them before but i don't know off the top of my head And then let's just double check. Make sure there's nothing else. I'm probably talking about this too much. But that's okay because you gotta know what's going on today is also international polar bear day. Who doesn't want to celebrate international polar. Bear day okay. The first word for this episode is carte blanche or 'blanche c. a. r. t. second word b. l. a. n. h. e. This is a noun from seventeen fifty one full discretionary power. Oh that's the end of that sentence full discretionary power as in was given carte blanche to furnish the house. This is french and it literally means blank document so it just means you can do whatever you want anything. If you're giving that power so next we have another french word or french phrase it is carte du jour three words cart jour noun from nine thousand nine.
"blanche" Discussed on Everything Everywhere Daily
"Year was born on march first eighteen forty nine in the city of in france. Her family were minor aristocrats with ancestry to the french ability. By all our appearances normal respectable family or mother was known for her charitable works senate even received a community award in recognition. There wasn't a hint of scandal surrounding the family as she grew up. Blanche became a beautiful young woman. There are photographs you can easily find online which show her from this period as a teenager. She had many suitors from the upper rungs of society. However parents no one was ever good enough for blanche in eighteen. Seventy four at the age of twenty five blanche met an older man who was a lawyer and blanche wanted to get married. Her mother absolutely refused and was furious at blanche for wanting to marry quote penniless lawyer soon after blanche disappeared. No newer she went. Did she run away to get away from her mother. She eloped with the lawyer. The parents told everyone that blanche had gone to scotland to attend a boarding school to finish her education. Eventually the family told everyone that lovely blanche died and they mourned her loss for years. Except that isn't what happened. Fast forward twenty five years later to the year. Nineteen o one. The attorney general of paris received an anonymous letter which read as follows quote. Moncia attorney general. I the honor to inform you of an exceptionally serious occurrence. I speak of a spinster. Who is locked. Up in madame magnier's house half starved and living on a putrid litter for the past twenty five years in a word in her own filth unquote. The police said. I found the letter to be suspect. The money family had an impeccable reputation lands. Whose brother was now. A respectable attorney in and the family had always been active in the community nonetheless. The police decided to investigate the matter. They performed a search of the house and didn't find anything however they did detect a rather foul odor coming from the attic and decided to investigate further..
Trump administration moves ahead on gutting bird protections
"Rolling back protections for migratory birds. Tom Roberts has the story. The White House's reinterpreting the 1918 migratory birds statute, Trudy's penalties for companies and developers who inadvertently killed them. The policy put in place in the 19 seventies to find an illegal taking of a migratory bird as any action that caused the death of a protected species. Whether deliberate or accidental, environmentalists argue the change will give polluters carte blanche to kill. Birds, which is not just illegal. It's cruel. I'm Tom Roberts come on his
Ilona Verley: Drag Race's Two-Spirit Queen
"I'd like to start off talking about being to spirit. Is that nine denver that you grew up around and with the knowledge that it was something a person could be no. I didn't actually i. Was you know. I did grow up around my culture. It wasn't until just after high school. I went to make up school. Blanche macdonald here in vancouver. I met jalen time. Who's now my gat. But she is an amazing indigenous trans two spirit drake artists. That was my first time. Actually hearing not term was when meeting her she was someone who really got me educated on that aspect of my culture when i met her and was hearing about being spirit. It was clicking for me. Like so quickly i was like this is something that resides with me so deeply as like okay like this. Is that missing thing that i felt when i was coming out like this. This is who i am. I'm to spear also you knew right away you heard about it and said oh that's me absolutely it's like i felt like i was always searching for this. One thing you know and meeting jay leeann hearing about two spirit and what it means to be to spirit. It just clicked a million things in my my so. Tell me if i'm wrong but just like how. There are many different groups of indigenous people across north america minor. Standing is that all to spear people really have different roles within society and traditions depending on the different tribe that it really differs from group to group. Is that correct. Yes being spirit essentially you know. The term was only brought around in the nineties right. So every indigenous group has had their own words or their own terms for what two spirit people were in their communities. You know two spirit. People have many different backgrounds from like giving names to the children. Hunting began gathering like it. Just there's so many different positions for two spirit people because we as these people flow between the masculine and the feminine. There was never like a sat. Like oh you're mail do this job. You're female do this job for as long as the stories can tell have been between and woven through every aspect in every part of our communities so i guess what i'm wondering as like is being spirit. Something that is culturally known and accepted in within indigenous cultures. And i guess the answer to that is in some. Yes and some no yeah. It's totally cracked. A lot of indigenous communities with the whole residential school thing and like whitewashing really lost touch with accepting the queer people in their communities. I thankfully come from a group of indigenous people who are very supportive and very uplifting of being to spirit. I'm really happy that in today's world. We're seeing a resurgence of people claiming their identity as two spirit people. I mean part of who they are and education and getting their communities involved with re accepting two spirit people. You know that's something that makes me very very happy.
Cleve Jones: Queer Spaces After COVID-19
"The reality is that the Gayborhood are going away. So, if you look at San, Francisco's Castro district or Seattle's Capitol Hill or Washington DC's Dupont circle or boys town in Chicago West Hollywood or anywhere you want to look lavender Heights in Sacramento wherever you look where there's a defined gay neighborhood. It's not just a place where there's bars though bar life has always been an important part of our culture. It's where very important things happen. I is political power. When we are concentrated in specific precinct gives us the power to elect our own public office the the power to defeat our opponents, the power to pass legislation that directly affects our lives in our wellbeing. As we are dispersed. We lose that power. Another super important part of it was the cultural vitality look at all the amazing stuff that's come out of West Hollywood that's come out of my neighborhood I mean it's no coincidence that the rainbow flag and the First Gay Synagogue and the First Gay Film Festival and the Aids Memorial Quilt and the Sisters of Perpetual Indulgence all were born in the Castro because there's that magic that happens when creative people when choreographers and filmmakers dancers and deejays and painters. Are All in that same area and I. Know that collaboration can occur very effectively online but there's nothing like the magic of face to face contact close proximity for that cultural vitality, and then the third thing that's at risk are the specialized social services for our most vulnerable population. So. Whether we're talking about people like myself who are getting old long term survivors of HIV or queer kids trans kids who were fleeing trump's America where do they go? They can't come to the Castro a little crappy studio apartment in the Castro is going to cost you twenty, five, hundred dollars a month. So this is the reality that nobody's really quite talking about that that community that has given so much and strengthened us in inspired US moved. US forward. Being threatened and there's many factors technology. Many. People will say, Oh, well, we can live anywhere. We want. No, you can't. Tell me that try it. You know go to Duluth and walk down main street and hold hands no offense to duluth or any other city. You Might WanNa try doing that outside of a gayborhood. So we need these these spaces they're important and we need to figure out what's our next move? Do you have a solution. There's no easy solution but yeah, when people say oh, cleave. Cities Change well. Thank you for that brilliant observation. Yes. Of course, it has changed but we want to. Be Thinking about that change and the big factor is that cities have changed in a way. That's profoundly new. For generations since the industrial revolution, the cities were the place where refugees went immigrants, Bohemians, counterculture people, artists, homosexuals, and all these people of all these different backgrounds and ethnicities genders would you know create this these cauldrons of creativity and and they would climb their way up the economic ladder move out to the suburbs and that was really accelerated in the Post Warrior the nineteen fifties, the nineteen sixties, nineteen seventies, the phenomenon of white flight. So when I got to San Francisco, the population of that city had been declining steadily since the end of World War Two and we were able to go into these neighborhoods that had been largely abandoned by the working class immigrants that had built them originally. And create what we created I on Polk Street. Then on Castro and folsom street hate streets you know he's really vibrant communities. These are now some of the most expensive neighborhoods in the world. So the district that gave us Harvey Milk. is now inhabited increasingly by wide heterosexual gendered millionaires when you arrived in San. Francisco, you had a sleeping bag and a couple of shirts and forty two dollars and you were welcomed into this guy's home. You would never met who was not expecting you. It was an address you have from a friend and there was a safe place to live and to get on your feet. Even, if it's not as San Francisco, like that mentality is so unique. I think that's pretty much now partly because it's just so difficult to survive. So the young people I meet in their early twenty S. You know these and of course San Francisco, it's all tech And there's a lot of anger towards the tech invaders but I have a lot of empathy and. Real concern for them because first of all, most of them are working sixty seventy hours a week. They have no job security. There would never use the the phrase exploited workers to describe themselves but are blanche you are but I think also back then and especially in San Francisco it was still Kinda Hippie dippy. And it was very counterculture. It was very communal. And everybody was kind of expected and really encouraged to contribute in some way. You didn't necessarily have to be all that good at what you did, but you needed to do something whether it was a drag show or video or film or A. Poetry contest or something there was A. There was a real nurturing of people's creative pulses and a lot of support for there was so many places I knew where if I was hungry I just show up and there would be every night. There would be a communal potluck dinner. There were probably six or seven of those households within a few blocks of where I was living on Castro Street. So I never went hungry.
The Secret Lives of The Palace of Fine Arts Swans
"Heading out to answer me question about how the swans are protected from coyotes is reporter Saul. Asana. Poor. I visit the Palace of fine arts at dusk on a misty grey weeknight. FOGHORNS. Are droning on in the background, but you can still hear the birds. Without Aharon. The swamp so they were hard to find I had to circle around the entire lagoon before I finally saw them we're looking for the. Oh Yes and. They're just hanging out in the open like this. There is one person who doesn't have any problem finding the swans. Her name is Gail Hagerty, and she is the Swan Lady I bow who they are across the water and people say to me well, how can you tell and I should? Because I've been taking care of them for so long for twenty five years. Gale has visited the swans daily and manage their diet mostly lettuce on a swan feed for dessert they get cheese. It's they loved they just goeke dessert for those. The Palace of fine. Arts. Has Two mute swans blanche and blue boy called mute swans because they don't make as many vocalisations as other types of swans. Blanche is very sweet and very forgiving. If I have to handle her, she will forgive me right away. Blue boy is he's the man of the lagoon. He doesn't like geese on their he doesn't like me. He's very large swan and He's always on a patrol always like who you who let you in and. But difficult personalities. Aside, these swans are graceful majestic when I see them on the water. It makes something in my soul feel whole and it's always been that way swans lived at the Palace of fine arts since it first opened during the Nineteen Fifteen Panama Pacific International Exhibition but one thing not in the design was an area to fence them off at night according to gale the Swan sleep out in the open. They are not put in any compound or any protective area in the evening. But where they go is they go into the gardeners nursery area which is fenced off, and they access that from the water to answer me, she's question coyotes haven't been. A problem for adult swans, swans are so big and so fast even on land they're fast I know because I had to run from him especially, but we've had swans for a long time. It's never been an issue for the adults but in the past, it has been an issue for the babies which are usually cared for on the lawn not in the gardener's nursery. Gail says a years ago the coyotes got to them eight them right there on site but doing some health issues, Gail says Blanche won't be having any more babies. So hopefully, coyotes won't be an issue. Now besides while on there are a lot of different birds at the Palace of fine arts. Course. Goes. We've got some horned owls in there and I won't see them normally might hear them.
"blanche" Discussed on KCRW
"Prison. Media and supporters Mob lie as he was released on bail painting this long time democracy activists as a traitorous troublemaker. Rattled Hong Kong. Jude Blanche it with the Center for Strategic and International Studies, says a few faces have been is prominent in the pro democracy movement as Jimmy lies both because of his Bar fighting mentality, his willingness to publicly scrap with Beijing. But, crucially, the fact that he has deeper pockets than anyone and as the head of a media outlet has a megaphone that is available to few else in the city lies personal story reflects many of those who fled Chinese communist rule for Hong Kong. He escaped China as a young stowaway. It was a fishing boat. Yeah, it was illegal transport of people under the guise of going fishing. That's Perry Link, professor of modern Chinese literature at the University of California, Riverside and a longtime friend of lies. A savvy teenager. Link says Lye took to the floor of a home calm clothing factory worked his way up to manager and ultimately the owner of a clothing empire. It extended into the mainland. He's deceptively smart and blunt. Ling says. The business collapsed in 1989. After the crackdown in Tiananmen Square, He went out in public and called Li Peng a premiere. An idiot. And with that, and all of his stores in the mainland China were frozen, so he sold the whole chain he invested in a media company. Best known for its newspaper Apple Daily, which former Hong Kong journalist Yuen Chan says covers celebrities and gossip. It's a pretty racy kind of tabloid definitely has its fair share of salaciousness content. But she says it also has biting reports on the Chinese Communist Party and commentaries by public intellectuals. Hong Kongers protest ID lies arrest two this month by snapping up shares in the papers. Parent company driving up the stock. Some 200 police rated Apple Daily when they handcuffed lie, Perry Link suspects Beijing sees the media magnate not as a protest mastermind but rather a useful tool to intimidate others. The message to kids on the street in Hong Kong is See if they can put Jimmy Lai away. They could put anybody away. It's not clear what triggered the charge of colluding with foreign countries. Prior to the law, Jimmy Lai called on President Trump to quote Save Hong Kong and Perry Link notes. He met with Vice President Mike Pence and Secretary of State Mike Pompeo with his plain speaking normal self. He just said what he thought and I think he charmed those people. Soliciting. The US administration is a polarizing moved within some elements of the pro democracy movement. But China analysts Jude Blanche, it says to suggest that the Jimmy lies a toady of Western interests is a complete mischaracterization of motive. I think the move to call for the United States was based more out of desperation than anything else. That there was a full impending collapse of the autonomy that Hong Kong enjoyed. Blanchard says the Chinese are relying on the trope of the foreign hand to crush dissent, and he sees broader implications as we think about the global slide of pluralism, democracy freedom. Looking at these bastions, and what is happening to them is extremely important for all of us. He calls Jimmy lies arrest a very dark moment. Julie McCarthy NPR news This is Dr Michael Wilkes with a second opinion. Amanda was 36 weeks pregnant when her doctor suggested she get a Caesarean section or C section. The doctor suggested the benefits to her would be choosing her own time of delivery, allowing her to plan her work schedule and not having to worry about rushing to the hospital or being in pain during delivery. He asked if that was okay with her. She is 20. And this is her first baby. A recent ultrasound showed her baby was healthy and ideally positioned with its head down. Caesarean section rates are controversial, and rates in the state of California are just under 25%. Meaning that one out of every four deliveries is a surgical Caesarean section. Well, C section rates have risen dramatically in the past 50 years. The health of mothers and babies has not improved. A telltale sign of poor quality of care are huge variations. In this case, Caesarean section rates from one hospital to the next, it's unlikely To be the result of differences in patient characteristics or birth complications and is much more likely to be the result of doctors, preferences and behaviors. For about 15% of birth. There are medical indications for cesarean sections that can be life saving for both baby and mom. But some doctors greatly overused the procedures, while others adhere strictly to evidence based guidelines. That's the reason some hospitals have Caesarean section rates in the 15 to 20% range, while others top 70% and women who have the lowest risk pregnancies often have the highest C section rates. Ironically, for an otherwise healthy woman with a normal pregnancy. The risk of complications from a C section is higher Dan for a vaginal birth. This enormous geographic variation speaks to our inability to address healthcare quality. Changing doctors. Behaviors is not easy. Surely some patients will request a Caesarean section. But more often, the high rates are driven by doctors preferences, such as their ability to more easily manage their schedules. They're focused on their own personal lives and financial considerations. The most effective way to change provider behavior is with financial rewards to push doctors toe act in the right direction. Punishments are somewhat less effective and education alone is not very effective. Hospitals are reimbursed almost twice as much for a Caesarean section compared to a vaginal birth. Perhaps as a result of the surgery, maybe longer hospital stays and higher complication Rates. C section rates are hardly the on ly procedure that very enormously between regions. In one study, at least half of all hysterectomies that is removing the uterus of a woman were deemed unnecessary. And again, there were huge geographic variations. What we need are evidence based guidelines that help identify the 15% of women who will benefit from C sections, then we need to change reimbursement. So that for all the other Caesarean sections hospitals can on ly charge the same price as they do for a vaginal birth finances will no longer Dr decision making. Let's see if that changes the C section rates. This is Dr Michael Wilkes with a second opinion. A second opinion with Dr Michael Wilkes airs Sundays at 6 35 in 8:35 A.m..
Recipe edition, Margaretha Jngling
"I'm good at the usually. I'm a chef working mainland ceric right now at the pop up would, which is actually in the restaurant there with next to the cinema riffraff. I cook their this kind of potato salad I want to introduce to you because I think you can vary a lot and you can play with it suits to the summer, but also suits to the winter and it surprising. You have to start with buying wexler potatoes like there shouldn't be to meet I can be a little bit media but to be. And then wash them of course, and then cut shoe liens out of it like either you do refer Mandolin or you can do by hand. And cut those shootings directly into a three percent salt Brian, it breaks down the enzymes which is important for this dish. Let. Them sit there for four hours or overnight. And then you bring a pot of water to boil and Blanche those potato shoe liens for ten to fifteen seconds. They still should be crunchy, but they need to be cooked to be edible. After you cool them down. And then you mix it with a grated cheese, you can use come to you can use create should have cameras, notes, or chatter could be fine as well. And you mix it with the potatoes maybe to search potatoes once or great cheese. You cease it with lemon choose some oil olive oil. And Salt and then you add herb I love it with Thai, Basil because it makes it very interesting but there's also possible to do it with she's ill with Holy Basil with love it like play around it really just tastes very nice and if you wanna be very fancy, you can take some of those Blanche Potato Chileans and deep fried for some crunch to to sell it. And you can also just eat those potatoes trip with roasted sesame oil, which you find a lot actually Chinese restaurants.
The Trump Administration Plans To Send 150 Federal Agents To Chicago To Help With Gun Violence
"Trump is deploying federal agents to Chicago to help combat violence President announcing yesterday that FBI F D A and homeland security agents will be arriving in Chicago, several 100 of them, perhaps to work with the police and local law enforcement agencies. President calling mayor like foot after his news conference to reiterate his plan. The mayor says that conversation was brief but straightforward. She says she will accept help from the president but not chaos. But I'm not for giving carte blanche to letting VHS or border control or whomever roam our streets and violate the constitutional rights. Of our residents. We do not, and we will not stand for that federal agents coming to Chicago, Albuquerque, Kansas City and another cities to be announced as part of something called Operation Legend. It comes also with an additional $3.5 million in federal funding to help Chicago police fight violent crime. Another nine million will be available to help fund The hiring of 75 police officers.
With COVID-19 cases on the rise, five new testing sites in Miami-Dade and Broward open
"Expanding efforts to find more Corona virus patients here in South Florida. Emergency management officials have announced five free testing sites are coming up Broward and Miami Dade. They'll open drive through sights much Friday morning. 8 a.m. to 6 p.m. Every single day, at least until August 2nd, you'll find the sites at the Miami Dade Auditorium, Dillard High Blanche Ely Hi MacArthur High School in Hollywood and Miami Jackson Sr. And
‘The Golden Girls’ house now for sale with nearly $3M price tag
"Girls House is now for sale. With a nearly $3 million price tag. Well, there you go. And I don't even know it was the house Did they have was the house featured prominently in the show? Yeah. Then they all live in the same house. All for the golden girls. Today? No, I think it's one of them and her mom. I never really got the premise. I was just like, Oh, it's just these for is for older, older ladies via mail hang out home made famous in outdoor shots for the iconic sitcom The Golden Girls can now be yours for a little more. Than Dorothy Blanche. Rose and Sophia paid for what? I guess they all they all live there, then. Paid for it back in the eighties. The 2901 square foot bedroom. Comes with four bedrooms house comes with four bedrooms and a To a nearly $3 million price listeningto price. According to House Beautiful The House is not located in Miami, as depicted in the TV show. But in Los Angeles, where it served as the facade for the home for for the For older that the four older women shared Golden Girls aired from 1985 to 1992. And there were 180 episodes across seven seasons. Wow! Of the four lead actress is only 98 year old Betty White is still You gotta love Betty White man. I love her on match game on the match game reruns from the seventies. She's fantastic. She's great on everything. Anyway.
Capital Allocation with Blair Silverberg and Chris Olivares
"Blair and Chris Welcome to the show. Thank, you good to be here. We're talking about capital allocation today and I'd like you to start off by describing the problems that you see with modern capital allocation for technology companies. I'm happy happy to start there. So I think it might be helpful to give. The listeners, a little bit of our backgrounds so I was a venture capitalist at draper. Fisher Jurvetson for five years I worked very closely with Steve. Jurvetson and we were financing are very MD intensive. Technology projects that became businesses things like satellite companies companies that were making chips to challenge the GP you new applications of machine learning algorithm so on and so forth and I think the most important thing to recognize is that the vast majority of technology funding does not actually go to those kinds of companies. The venture space is a two hundred fifty billion dollars per year investment space. The vast majority of the capital goes to parts of businesses that are pretty predictable like raising money in in investing that in sales, marketing and inventory or building technologies that have a fairly low technical risk profile, so the vast majority of tech companies find themselves raising money. From a industry that was designed to finance crazy high technology risk projects at a time where that industry because technology so pervasive you know really do the great work of of many entrepreneurs over the past twenty to thirty years, technology is now mainstream, but the financing structure to finance businesses not has not really changed much in that period of time. Yeah, and then I guess I'll talk a little bit. My my background is I came from consumer education sort of background, so direct to consumer, thinking about how you use tools and make tools that ingrained into the lives of teachers, parents students I was down in the junior class dojo before starting capital with Blair. We were working on the Earth thesis He. He was telling me a lot about this. The the date out. There exists to make more data driven in data rich decisions. How do we go software to make that easy to access in self service and sort of servicing the signal from the noise, and we kicked around the idea and I thought that they were just a tremendous opportunity to bring. What Silicon Valley really pioneered which is I think making software that is easy to use in agreeing to your live into kind of old industry fund raising capital Haitian. The kinds of capital allocation that exist there's. And debt, financing and different flavors of these. Of these things say more about the different classes of fundraising in how they are typically appropriated two different kinds of businesses. So. You have the main the main groups you know. Absolutely correct, so there's. Equity means you sell part of your business forever to a group of people and as Business Rosen succeeds. They'll get a share in that. Success and ultimately income forever. Debt means you temporarily borrow money from somebody you pay them money, and then at some point in time that money's paid back and you all future income for your business, so equities permanent, not permanent. If you think about how companies are finance like. Let's take the P five hundred. About thirty percents of the capital that S&P five hundred companies use to run. Businesses comes from debt. In the venture world that's remarkably just two percent. And the thing that's crazy is this is two percent with early stage seed companies, also two percent with public venture, backed companies in places like the best cloud index, which is like a one trillion dollar index of publicly traded technology companies started their life, and in with injure backing many of them SAS companies, these companies, also just two percent finance with debt, but nonetheless within these these classes, the reason it's obviously economically much better for a business and pretty much every case to finance itself with debt because it's not. Not It's not permanent, and it can be paid back. It's much much cheaper to use debt. That's why you buy a house with a mortgage show. You know you don't sell twenty percent of your future income forever to your bank help you buy a house, but the reason that people use equity comes back to the risk profile so just like. If you lose your job and you can't pay off your mortgage. The bank owns your home. Same exact thing happens with debt in so restorick Louis, if there's very low. Certainty around the outcome in typically early stage investment you're you're doing a lot of brand new are indeed you have no idea if it's GonNa work you cope. You know over time that you'll be successful, but there's really quite a bit of uncertainty equities a great tool because you're. You'RE NOT GONNA lose a business, you know everybody can basically react to a failed. Are Indeed project. Decide what to do next had saints. Equity is kind of the continent tool for high technical risk, high uncertainty investments, and then debt is basically the tool for everything else, and it can be used as most companies do for. Ninety percent of The places that businesses are investing so if you're spending money on sales and marketing, and you know what you're doing and you've been running campaigns before. That were successful, very. Little reason you should use equity for that if you're buying inventory if you are a big business that's. Reach a level of success that on. Means you have a bunch of diversified cashless. Coming in businesses might take out dead on business kind of overall, so it's less important what specifically you're using the money for, but it's important to recognize that most companies are financed roughly fifty fifty equity versus dead, just just intra back companies that. That are kind of uniquely Equity Finance. Scaling a sequel cluster has historically been a difficult task cockroach. DB Makes Scaling your relational database much easier. COCKROACH! DVD's a distributed sequel database that makes it simple to build resilient scalable applications quickly. COCKROACH DB is post grass compatible giving the same familiar sequel interface that database developers have used for years. 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It's often originating in a large source, a sovereign wealth fund or family office in it's being routed through something like capital allocators cater like a venture capital firm for example or a bank. How does this capital get allocated to these smaller sources? What is the supply chain of capital in the traditional sense? You know it's kind of funny to think about capital and things like the stock market in the form of a supply supply chain, but this is exactly how we think about it so at the end of the day. Capital originate. In somebody savings, basically society savings right you. You have a retirement account or your population like you know in in Singapore and Norway with a lot of capital, it sort of accumulated from. From the population and these sovereign wealth funds, or you're an endowment that's you know managing donations of accumulated over many many years, and ultimately you're trying to invest capital to earn a return and pay for something pay for your retirement pay for the university's operation so on so forth so that's Capitol starts, and it basically flows through the economy in theory. To all of the economic projects that are most profitable, inefficient for society, and so, if you step back, and you think about like how how is it that the American dream or the Chinese Miracle Happen? You know in in both of those cases different points of the last hundred years. Why is it that society basically stagnated? You know the world was a pretty scary. Scary place to live in up until about seventeen fifty, the industrial revolution started. Why is it that you know basically for all of human history? People fought each other for food and died at the age of thirty or forty, and over the last two hundred fifty years that it's totally changed. It's because we have an economic system that converts capital from its original owners. Diverts it to the most productive projects. which if they're successful, replace some old more expensive way of doing something with newer better way and so I think when when I described that like you know I, think most people can step back and say yeah, okay I. kind of see how capital flows through the system, it goes automatically to someone making an investment decision like a venture capital firm ultimately gets into the hands of the company company decides to invest in creating some great product that people love. Let's. Let's say like Amazon and then everybody switches from you know buying goods at some store that may or may not be out of you know may or may not being stock to the world's best selection of anything you'd never wanted. The most efficient price that's society gets wealthier basically through these these kind of steps in these transformations, but it's asking if you step back and think about it like nobody actually thinks it's processes as efficient as it could be like. We asked people all the time. People were interviewing journalists companies. We work with sewn. So how efficient do you think world's capital allocation is? I've never met a person that says it's pretty good. You know we're like ninety percent of the way there. In fact, most people think it's pretty inefficient. They think of companies like you know we work, and some of the more famous cases lately of of Silicon. Valley back businesses that that totally. underwhelmed disappointed. Their initial expectations and I think most people admit that the efficiency of capital allocation is either broken or nowhere close to achieving its potential, and so we basically we'll talk more about our technology and how we do we do. We basically think of this problem our problem to solve. There's an incredible amount of Apache inefficiency in how data that goes from a project or a company, ultimately funneling up to an investor flows, and so you know it's hard to place blame because there's so many people in the supply chain, but. But I think it super clear that if it's difficult to measure whether or not a project or a business is good at converting capital into value in wealth, and you know products that people want, it's nearly impossible for society to become really good and efficient at allocating its capital, so we're we're here basically to make the data gathering data transformation visualization communication of what's actually going on under the out of business as efficient as possible and you know from that, we thank some great things are going to happen to the economy. Goes a little bit deeper on the role that a bank typically plays in capital allocation. If you think about our bank works like let's take. Let's take a consumer bank that most people think about you gotTA checking account. Right, now you've got some money in that checking account. That account actually takes your money or dot and most people know this your dollars sitting in that account. You know just waiting around. You'd withdraw them. Your dollars are actually rolling up into the bank's treasury. There's somebody at the bank working with the regulators to say hey, how much of this money can we actually put into things like mortgages, commercial loans, all of the the uses of capital that society. Has In some some effort to. To, move the world forward and make the economy efficient, and so those deposits basically roll up into a big investment fund, and there's ratios that regulators set globally that say those dollars needed to be kept in reserve, versus how many are actually able to be invested, but with the portion that's able to be invested. It's there to fun. You know building a house to fund a business back -Tory to fund sales and marketing or inventory procurement for some other business, and so a bank was was basically the original investment fund, and a bank has unlike venture funds and other sources of. We typically think private capital. The bank has tricky. Problem were any moment all of the depositors holding the checking accounts could show up and say hey. I want my money back and so that's why banks have to deal with reserving capital predicting the amount of withdraw and classically everybody wants her money at once at the worst possible time, and so banks have to deal with quite a bit of volatility now if you take an investment fund on the other hand. Totally totally different structure, so your typical venture fund will have money available to it for a period of ten years from you know typically these larger pools of capital. We talked we talked about so very rarely. Individuals are investing retirement savings in venture funds, typically sovereign wealth funds down that's. Basically pools of that individuals capable. Win One of these funds makes a commitment to a venture fund. It'll say you've got the capital for ten years. You've gotta pay back. You know as investments exit, but other than that will check in ten years from now. We hope that we have more than we gave you the star with and there there's no liquidity problem because the fun has effectively carte blanche to keep the money invested until some set of businesses grow and succeed and go public and make distributions so one thing that's fascinating. The Tappan in the last twenty five years is private capital capital in the format of these kinds of funds. Have just grown tremendously and so today. There's a little over five trillion dollars. Of private capital being allocated in this way to think like buyout funds venture funds so on and so forth. Funds don't have the liquidity problems of banks. They can make much longer term for looking investments. This is created tremendous potential to make the economy more more efficient by taking out the time spectrum. You know this is why venture investors can do things like finance spacex or Tesla. Really. Build fundamental technologies in the way that a bank never could so this is an amazing thing it. However leads to a very long. You DAK cycle, so the incentive goes down when you take out the time line over which investment needs to pay back. To carefully monitor and understand what's going on in the business day today, so it's pretty interesting thing about the different pools of capital. There's not not to. Make it sound too confusing, but I think everybody will admit that the financial markets are incredibly diverse complicated we track basically about fifteen different kinds of capital, and they're sort of pros and cons with each one, but you know a bank is one. A private fund is wanted insurance companies balancing as another. You've got things like ETF and public vehicles that hold capital so there's quite a bit of complexity and the the structure of the financial markets. All right well. That's maybe the supply side of Capitol on. All kinds of middlemen and all kinds of different arrangements, but ultimately there is also the demand side of Capitol, at least from the point of view of companies getting started which is. Startups or computer in later stage with the maybe they're not exactly considered startup anymore, but they're mature. These companies have models for how they are predicting. They're going to grow, but oftentimes these companies are very. Lumpy in terms of how their their revenues come in how closely their predictions can track reality. So how do technology companies even model their finances? Is there a way to model their finances? That actually has some meaningful trajectory. Sure so first. Companies you know need need a base think of all the places that they're spending our money and. We're pretty. We Do I. Think a pretty good job of organizing this and making it simple so when we look at companies and we can, we can talk more about how the the cabinet machine operates, but when we look at companies, we basically think they're only a handful of places of money. Get spent you spend money on. Short term projects that you hope proficient things, sales and marketing. Houston money on paying for your sources of financing like paying interest on debt, making distributions to your investors, and then you spend money on everything else and everything else can be designing software building products on, and so forth, and so if you break the demand for capital down into just those three buckets. And look at them that way. Some pretty interesting things happen. The first is for the short term investments that you hope productive. You can track pretty granular nearly whether or not they are, and we'll come back to that. For paying back your investors, you sort of know exactly how much you're paying your investors so a pretty easy thing to track, and then for the operating costs you know most people will help us. Apax, that you're paying to keep the lights on things like Renton the your accountants, the CEO salaries on and so forth these are these are table stakes expenditures. You need to stay in business and so. Amongst each of those three things, there's different things that you wanna do to optimize and I'm happy to go into more detail sort of go through each one. If you think that'd be useful. Yeah Bliss a little bit more about about how these companies should be a modeling, their revenues are that is meaningful to model their revenue so that you can potentially think of them as targets for for capital allocation so. If we think about. Understanding what company might be a viable recipient of capital? How can you accurately predict the trajectory of that company, or or do they? Would they present a model? Would they develop a model good through a little more detail? How a company would serve justify? It's need for capital. So typically what what most companies do and this is not terribly useful or accurate, but I'll tell you what most people do I mean by the way like how central the entire economy predicts, predicts demand for capital works like this. Companies take. Their income statement on their. Balance Sheet historically. And they they basically have this excel file got a bunch of you know, rose and have different things like my revenue, my you revenue that sort of linked or my expenses that are linked revenue Mukasey could sold so on and so forth, and they grow each of those rose by some number that they hope to hit so if you want your revenue to double next year, you'll say my revenue one hundred dollars today I wanted to be two hundred. Hundred dollars twelve months from now I'm just GONNA draw a line between those two points and every month. There will be some number that's on that line, and that's why monthly revenue I want my expenses. You know everyone knows. Expenses are going to have to go up if my revenue goes up but I don't want them to go up as much as my revenue, so I'm going to draw a line. That's you know somewhere less than a doubling. and. You pull these lines together on one big excel file and there's your you know they're your corporate projections. In general, this is true for big companies small companies, but that's not actually how. Company revenue works because if you go back to the three categories, we talked about before, and you just focus on the one that talks about the short term investments. The. Way Company Revenue Actually Works is a company this month. Let's say they spend one hundred dollars on sales marketing. Well. They're hoping to get a return on that sales marketing, and so they're hoping that in the next you know six months. That's paid back. Twelve months that's paid back. You can actually track every time they spend money on sales and marketing. how quickly it gets paid back so it's that level of precision that can accurately predict revenue, and so what we do is we basically just get a list of every time? Money was spent on one of these short-term investments, so you sales and marketing for for an example, and then we get a list of all of the revenue that was ever earned. And we attribute between both of those lists causing effect. And we do that using a bunch of techniques that are pretty commonplace in your typical data, company or machine learning company. We use some math things like factor graphs. We use simple kind of correlations. We have You know a whole kind of financial framework to. Guess. What attribution should be because you learn a lot as you see different businesses and you see a bunch of different different patterns, which you can basically cluster on, but it is this linkage between spending on something like sales and marketing emceeing seeing revenue, go up or down, but makes or breaks a business, and you want to look at it and I is. Not a bundled. Entirety which is how financial projections are typically built? Okay, well! Let's talk a little bit more about what you actually do so if you're talking about early stage technology companies. Describe how you are modeling, those companies and how you are making decisions as to whether they should receive capital. When a company comes to capital they they come to our website. They sign up for this system that we built which which we've called the capital machine. And the first thing that they do is they connect their accounting system their payment processor typically, so think like a strike, and then sometimes they'll provide other things like a pitch deck or a data room, or whatever other information they have prepared. The system pulls down. All of the date in the accounting system and the the payment processor, and we look at other systems to these are the two key ones that all all dive into detail, and so, what ends up happening is from the accounting system. We get a list of all the times. Businesses spend money on these things like sales and marketing that we were talking about before. From the payment processor we get a list of all the revenue transactions in crucially we get it at. The level of each. Each customer payment, and so you know we scrub I all we really care about is having a customer ID, but once we have data at that level. We can start to do this linkage and say all right look. You know this business spent. A million dollars on sales and marketing and March of two thousand eighteen in April of twenty eighteen, and we saw revenue grow by twenty percent. That was a pretty substantial chain. You know what actually happened here. You can typically identify the subcategories of sales and marketing and start to do this link between these two, and this is really the you know the magic behind our our data science in our team pairing with our engineering team to figure out this problem and solve away that is, that's robust. Bud once we have these two data feeds, and the system goes through, and does all of these attribution. Populations were able to present that back to accompany a pretty clear picture of what's going on, and so we'll say things like hey. Your Business is pretty seasonal, and in the summer is when you're typically more more efficient at converting your sales and marketing dollars into growth so I, you want to finance growth in the summer. The second thing is only about eighty percent of your businesses financeable. There's twenty percent where you might not know it because you're not looking at this level of detail, you're busy building your business, which is exactly exactly what you should be doing, but Twenty percent of your businesses, not efficient. You're spending money on on your sales and marketing categories, product lines, and CETERA that just shouldn't exist and so if you get rid of those. If you double down on the part of Your Business, it is efficient. Then we predict your revenue will be act fifty percent higher, and we'll tell you exactly how much money you need to invest to raise money to to raise the revenue by fifty percent. We give you a bunch of charts that allow you to see how history and projections merged together and dig down. Inspect how we do that linkage to make sure you agree, but. This is what the capital machine does at its core. It Converts Company data into a fully audited completely transparent picture of. How business works where it sufficient where it's not efficient. And then that's where our technology stops, and where balanced she comes in, and so we then take this information, and we make balancing investments directly in companies, and so primarily at this point we lend money to technology companies that we see from their data are eligible for non dilutive funding. We make capital available to them directly. We basically allow them to access it through the capital machine. We use one system to communicate changes to the business. No keep both sides and form so on and so forth, but this is the kind of analytics layer that's essential to making these capital allocation decisions more efficient, and so I think you could imagine a day at least for us in the not too distant future when it's not just US using our balance sheet in this tool to make investments, but in fact, just like excel, every investor can benefit from a similar level of analytics and transparency, as can companies by getting more accurately priced faster access to capital less friction so on and so forth. Get Lab commit, is! Get labs inaugural community event. Get Lab is changing how people think about tools and engineering best practices and get lab commit in Brooklyn is a place for people to learn about the newest practices in devops, and how tools and processes come together to improve the software development life cycle. Get Lab commit is the official conference. Forget lab. It's coming to Brooklyn new. York September Seventeenth Twenty nineteen. If you can make it to Brooklyn, on September Seventeenth Mark Your calendar, forget lab, commit and go to software engineering daily dot, com slash commit. You can sign up with code commit s E. D.. That's COM MIT S. E. D.. And Save thirty percent on. Conference passes. If you're working in devops, and you can make it to New York. It's a great opportunity to take a day away from the office. Your company will probably pay for it, and you get thirty percent off if you sign up with code, commit S, e. There a great speakers from Delta. Airlines Goldman. Sachs northwestern, mutual, T, mobile and more. Check it out at software engineering daily Dot Com slash, commit and use code. Commit S. E. D.. Thank you to get lab for being sponsor. The inputs specifically if you think about a model for determining whether or not, a company should should be eligible to receive capital. I'd like to know how the the models are built. The the data science models that you're building are constructed from the point of view of the inputs. So how are you determining or how do you like company comes to you? How do you turn that company into some structured form of data that you could put into your models and determine whether it's worthy of capital. Yeah I mean it comes down to what what the data is your down so when we talk to a system like striper transaction records system, you know that that's the revenue of the company now where things get interesting when we connect to balance sheets in penalizing, it's of accompanying really onto understanding. Weighing. What exactly these numbers mean, and that sort of where we made our pipelines were built from the ground up to give us that granular. Of A company's cash family revolutions. Where's the money going where they allocating? And it's savable greenway or you once. What do you understand that data through that Lens? That let's build pretty sophisticated financial models Linda. And you know as soon as you have the picture of Company You can really do a lot of flexible analysis on the back leg distributed computation. Come stuff that you would never be able to excel and quite frankly a lot of these companies don't have the stacking internally or really the tools to understand for themselves, so you'd be surprised it you know when we surface this analysis back to the company by virtue of just being transparent on how we're making decision how it is perceived their business, the signals that were uncovering. These operators the CEO's the CFO's that are really focused on building company. Really surprising. They're really making these insights really transforming. How they think they should have capital. Should invest growing business. Are there any? Sources of Third Party data that you can gather to improve decision making. There are at a macro economic sense, and so it's actually quite useful to look at public company performance and say hey. SAS businesses in general. Most people notice, but facilities in general are seasonal in the fourth quarter. Budgets basically expire and people come in, and they buy a bunch of SAS. Software and so to take concepts like that basically shapes of curves, signals and apply them to private company. Financials is useful. Crucially though there is no private company. Data repository of any kind like it just doesn't exist, and you know notoriously even even with small businesses. It's actually quite quite difficult to get access to any sort of meaningful credit data, and so, what ends up happening is these aw. These businesses. Give you a picture of their business directly as an investor and you have to interpret it directly, and that's basically how this works totally unlike consumer credit, there's no credit bureau that people paying so most investors are analyzing the state and excel. Excel notoriously breaks when there's about a million cells worth of data, and so we've got this great visualization showing our data pipeline, and it's basically a bunch of boxes, and there's a little tiny. Tiny box in the bottom of corner that's excel, and there's a bunch of other boxes across the entire rest of the page that are nodes in our in our distributed computations, but accelerate very very limited, and so it makes it impossible to actually understand what's going on in business from the source data, and it's at the source that you see this variability in this linkage between profitable capital allocation decisions in unprofitable capital allocation decisions. Describing more detail, the workflow so a company comes to you and they're going to put their inputs into the. Would you call the capital machine? What does that workflow look like in a little bit more depth? Yes when they come to the website, they creighton count much like you would on. Twitter facebook account. When your details your email, you terrify your email, and then you on what's recalling like the capital portable on there? You have et CETERA. Tools to connect your sins record and these are typical offload. So you know people are very familiar with you. You know you say hey, let's connect by quickbooks you in your credentials and sort of be as secure way, and you click okay and the system checkmark by your quickbooks in the system start pulling that data out of regular cadence and. Depending on what system you're connecting you of the characteristics of that's not go systems of record, and how much data you have you know. The data's available anywhere from ten minutes to a couple of hours later and you know once we have Dr. System, we run that through our partake analysis pipeline in the users as a company. You get you get charged. In Tableau kind of call it, the insight Saban's these refused that we think would be helpful for you as an operator company understanding about Your Business in separately. We also get views of that data that are useful to our our internal investment team. Whoever is looking to capitalization systems? Are there certain business categories that are a better fit for modeling in better fit for the kind of. Predictable capital returns that you can, you can expect with the investments that you're making so like you ride sharing or Gig economy businesses or some businesses. What are the categories that are the best fit? Say Very few categories don't shit from the from the perspective of of linkages, but they're certainly models at their easier to think through and easier to understand, but our our system can underwrite today A. Lease on a commercial aircraft, a fleet of ships and Insurance Agency ask company the most important. Thing about our system is that the financial theory that underlies it is very general, just like p. e. rate is very general, and so that's kind of sounds crazy like. A lot of. A. Lot of people say what what businesses the best fit for your your system and you know it's kind of like asking what businesses the best for Warren Buffett like Warren. Buffett is a generalist. In any business, and he has a framework in his own head to figure out how to make ship comparable to American Express our assistant has a very similar framework. It just operates at the level of transactions instead of at the level of financial statements, but certainly within. That framework there's some examples that are just easier describes I think like you know thinking through the fishing of sales and marketing something. That's a lot more obvious than thinking through like the stability in refurbishment of commercial aircraft parts, which is a key question you know. Pricing pricing refurbished parts, which is a key question if your financing commercial aircraft and Our team, the ambassadors that use the capital machine internally which we primarily do internally do a little bit of partnering with without the groups to to use this as well. These people are all specialists in some particular area, but it's crucial to understand. They're looking at the exact same chance as all the other specialists and all the other areas, so it's like literally the the Fast Company and a commercial aircraft will have the same series of charts at investors. Are there two two draw their conclusion? Is the question for Chris. Can you describe the stack of technologies that you built in more detail? Yeah Yeah. Of course on the front, we are react type script, xjs, you know everything is on aws, and in the back, and we're. We're all python, and in really the reason for that is if you're doing any serious machine, learning or data science today can't really get away in python stack, so we're all python them back in. We have flasks. As a as our API late here and That's the that's a high level. And get a little bit more detail about how the data science layer works. Yeah, yeah, yeah, of course, so we put on the dea into basically a data lake the that goes down into Ardito pipeline in that's all air orchestrated on top of each called airflow, and we use a technology called desk for are distributed computation, and I think that this is a good choice. Choice for us at this moment you know I see us doing a lot of work on. You know using a spark in other distributed technologies in the future and his team and it turns out that when we pull this data down organizing the data was really important to us as we build a lot of attractions to make accessing that data, really easy for quantitative analysts. Important central to our whole technology is that we're able to do a lot of different financials experiment very quickly on top of this so the the implications of that really cascade down all the way into. You know what technologies where choosing how we structure our delayed. Even even how strokes are teams, so it really is brought up locations across all product. How is it when you're analyzing company that you have enough data that it warrants a spark cluster because I can imagine? The financial data around the company. How can there really be that much data to analyze how you do surprised in a lot of these transactions systems taking up the companies have been around a couple of years and their direct to consumer. These data sets can be can be pretty large. You know we're talking about in the millions and millions and millions of transactions that were pulling down and storing. Storing and that just on a per company basis. You know that's not even talking about if we wanted to. Benchmarks Cross companies, and also if we want to do scenario analysis, so you know one of the things we was part of a pipeline is take this data, and through like nine ninety nine hundred thousand simulations to understand the sensitivity of different variables on the performance of Your Business and If, you're starting out with starting that already large. Sort of a multiplying effect. On how much data the system is the old process? is you go through those different stages? And, can you tell me a little more detail? What would a typical spark job? Look like for a company that you're assessing. Yes, so first episode is ribbon. Our our financial didn't ingestion parts, so we download something on the order of you know forty fifty bytes of Tim's action data for for a company. We have to do all the work to interpret and understand what that means in reorganized that data in a way that are downstream analysis and primitives can. Make sense of and use for useful analysis so really the first step at this point job is is transformed the datum some it's useful, and then there's all the work on what are the clusters in order to machines and analysis in the computational. Resources needed to run simulations. You know not not just say local computer locally owned of fall over the only about thirty to sixty four gigabytes of Ram what league, so that's where workflow comes in creating easier faces into data, clusters and being. Should you know when you run a job? You know when it fails. You know it's done. You know when the team can't okay. This part of analysis done I had intermediate date asset to do more analysis on now get back to work is a lot of the time we spend developing internal tools to make. One other thing that'll mentioned that I think's important is. A lot of the underlying technology in our data pipeline it's no different than like what a tableau or you need. Traditional BI business would have access to, but what's fascinating when you have a vertically specific domain so financial data in our case you can make a lot of interpretations about the date of the let you do much more intelligent things, and so for example we. Don't have to make your own charts as a user of the capital machine. We make all the charts for you can of course. As a business we work with. Give us ideas for charts. You can mock up your own. We we basically have an interface for for business. The I team's to to write some code if they if they want to bought when you have clients who are thinking about financial risk, financial attribution across all of the companies that we see distilling that down into a series of indicators that are detailed, but generalize -able, and then publishing that back to all of the companies that use the capital machine to run their own capital, allocation, decisions and access, external fundraising and capital. Some pretty amazing things happen in so it's only with a vertical view. You actually having these we, we call our data scientists Kwan's, but but actually having these people who you know typically are graduate level economists, thinking for the first time about using transaction level data in their analysis, which is notoriously not not available to to normal economists that you get the kinds of insights and analysis the actionable for businesses, and then in terms of the data pipeline that then means we actually store a bunch of intermediate data that's opinionated in that way, and that makes it much faster to access much easier to benchmark much more useful across a network of companies, versus just that isolated excel model that. Explains only one business. One thing I'd like to ask you about. Capital intensity so there are kinds of businesses that are capital intensive for example where you have to pay upfront for a lot of ridesharing rides, and you know as Uber or lift. His has known in much detail. You allocate all this capital two things to subsidize rise because you try to win a market, there's all kinds of other capital intensive businesses. How does capital intensity change? What makes sense with regard to the equity financing the debt financing that you are shepherding for these companies? That is a great question and be because of where you focus in your audience. You totally get the most financiers don't so. The first point exactly like you said. Capital intensity means a business consumes a lot of capital. It doesn't mean a business has a physical factory or plant or railcars, so it is absolutely true exactly like you said that there are a lot of tech businesses that are incredibly capital intensive. If you are capital intensive business that means UNI especially if you're growing, you need to raise a lot of external capital, and so it is even more important that your capital or a big portion of your capital base is not dilutive. That's that's just essential. Table stakes because what you see with these businesses, the ride sharing companies are great. Example is by the time one of these things actually goes public the early owners in the business on a very very very miniscule. KEESA that business, still if you contrast that to company like Viva Systems which I think is one of the most capital capitol efficient businesses in venture history, I think that this race something like twelve or fifteen million dollars total before it went public in a at a multi billion dollar market cap. So capital intensity. Is a synonym for dilution your own way less. Than you think when you exit entities even more important that you figure out a way to raise capital non ludicrously upfront. Some broader questions zooming out in in getting your perspective. Do a thesis for what is going on in the economy right now where you look at. The fact that We have. Obvious pressures to. Reducing the size of the economy through the lack of tourism, the lack of social gatherings while the stock market climbs higher and higher, and it appears that the technology side of things is almost unaffected by Corona virus is there. Is there a thesis that you've arrived at or or their set of theses that through conversations with other people, you've found most compelling. Sure the most important thing to realize about the stock market is that it discounts all cash flows from all businesses in the stock market to infinity, and so the value, the stock market about eighty percent of the value. The stock market is. Pretty far into the future like more than three years from now, and so if you believe that the current economic crisis and this is why there's always a. At least in the Western, world, last two hundred fifty years after an economic crisis. If you believe the crisis will eventually revert, and there will be a recovery, then it only makes sense discount stock market assets by anywhere between ten and twenty five percent. If you believe businesses fundamentally going to go out of business because of this crisis, that's a different story, but that explains why something as terrible as Kobe nineteen and a pandemic. Only discount the stock market by by roughly thirty thirty five percent in a in March, but that's not what's actually going on today as you mentioned and so stock market prices now have completely recovered. That is something that we think is a little bit of out of sync with reality but I. I mention you know we're not. We don't spend too much time about the stock market beyond that we just look at you. Know Private Company fundamentals. We try to understand what's actually going on in individual businesses across all businesses that are network to see what you know what we can understand, and you know what kind of conclusions we can draw, and so if you take that Lens and you actually look at what's happening to businesses due to Cova nineteen, it's fascinating. Some businesses like think the food delivery space have gotten a lot more efficient, so those businesses lot like ridesharing businesses back twelve months ago, there was sort of a bloodbath between bunch of companies competing in local markets to acquire customers all all fighting Google and facebook console, and so forth you subsidies drivers, etc.. That's essentially stopped. These businesses incredibly profitable, the cost acquire customers has fallen by more than half a lot of cases. The channels were slot less competitive, and so if you're running one of those businesses. Now is a great time to be aggressively expanding. Weird things like commercial construction businesses. They're actually a handful businesses that we've seen do things like install windows and doors and commercial buildings whose businesses have accelerated because all of these buildings are closed down. Construction project timelines have gotten pulled up. All of these orders are coming. Do in they're you know sort of rapidly doing it solutions? There's obviously a bunch of other businesses have been that have been hurt by by the pandemic, but our general thesis are we've studied. Pretty detailed way the Spanish flu in nineteen eighteen, you know. These things eventually go away. There will be a vaccine. Economy will get back to normal, and as long as we can stay focused on working through this as as a society and of maintain our our fabric of of kind of economic progress then. DESAGUADERO values today will eventually make sense just sort of a question of of win for the stock market, and then if you're if you're actually running business in thinking about your own performance in isolation, really being clear about is now the time to invest and grow my business now the time to be very careful with my expenses interest, get through this for the next year or however long it takes for there to be a vaccine. So the way to think about your company, if I understand correctly if I was to to put in a nutshell, is that. I think of you as a data science middleman between large capital allocators, and and start ups deserving of capital, so the the sovereign wealth funds the banks the I guess. Funds of funds. These kinds of sources are essentially looking to you for guidance on where to direct the capital, and you're on the on the other side, absorbing data and creating opportunities from these startups to source the good directions of that capital. Just wrap up. Would you put any more color around that description or or refining anyway. Yeah I mean I. think that at the core of what capital is is where the. Core Technology Ambler of sort of. The private market if you think about public markets today, you've clearing-houses like the New York Stock Exchange, and you have companies that provide analysis on top of that like Bloomberg, you know we see a tremendous opportunity to shift the paradigm where you know the place where all the financial transactions happen. is also the place that collects the data improvise information for those making these decisions and yeah, so I think capitals really at the center of making a transparent technologically enabled financial marketplace. Guys. Thank you so much for coming on the show and discussing capital, and I guess one last question is. Do you have any predictions for how capital allocation for startups will look differently in five ten years? Sure so! The first prediction. And this is happening now. I mean the the infrastructure is. In place both within. And others. Most startups fairly early in their life. Think is equity only way to do this and. So. That's a cultural shift. That's that's already happened. People are starting to ask that question. The second prediction is. Seed and series a funding will be entirely unchanged. After series. There'll be a bifurcation between businesses that. Are Really. Capital intensive gigantic rnd projects think like SPACEX. The series, B. C. d. e. enough are really about building and launching a rocket. Those businesses will by and large not. Turn outside of equity to finance themselves, but there's very few of those businesses. Pretty much every other business businesses that you see raising a series B. Serie C. Will like any normal business in the entire rest of the economy raise maybe half of that capital nine allegedly either in the form of debt. Royalty financing factoring all of the other instruments that normal companies use to finance themselves in the void delusion that will happen roughly three years her. Now that'll that'll kind of we'll see obvious obvious signs of that from very early very early base, and then the final the final thing is. Steve Case talks a lot about this. With the rise of the rest, he's got this great venture fund that invests explicitly outside the coast, so kind of the rest of America and we've seen that there's there's a pretty dramatic distinction between being a coastal business non-coastal business from capital access perspective, but there's no distinction from an actual performance perspective, and so we'll start to see some of the regional. Differences in bias sees around where capital flows, go away. And so I would maybe put that on a five year timeline like raising capital is actually much more predictable, much less biased, and that's great back to the beginning of our conversation. That's great for the economy I mean every project or business that can convert capital, two products and services that people love should get finance. No questions asked doesn't mean it doesn't matter what the color of your skin is. What background you have whether you went to college didn't go to. College doesn't matter. You have a business with data that can prove whether people love it
"blanche" Discussed on Way Too Broad
"Since then I've been trying to like communicates her that she's Laura. All me at all these other people. Love these fucking cute Chubby fuckers that me by. Five screen recording videos showing me the messages. and. Then then Hannah said. Hannah said, what did she say? To dramatic reading after you said the video, okay. Okay go! This is incredible to me. And I said they are so cute. Your brain is wrong. I did a watercolor. This exact fucking bug and I will admit that it was pretty pretty can. Their champion Nice majority rules good demine Mexico's Day. It's an update messages from three more people who like them. Since we last spoke that this is like the clouds, England, all over again I have nothing against the bugs I am floored by how many videos you've taken of them, and to explain the clouds in England, when when I graduated from High School, and when we graduated Aaron and I. And, our whole went to England with stopover in Ireland for just Aaron me and Aaron Pictures of clouds the whole time we, she took pictures of the clouds, and like I was in love. Cloud. Clouds I know it was just like a thing because we were like at all. These like old things like. Hundreds of year, old buildings and stuff and every time you turned around. There were just more pictures of clouds on your. Camera. Of the building. Maybe. Maybe if the clouds were in size, said. So, I said honestly it's because they've been getting constant. Positive feedback about them at least twenty people. Have, different people have been telling me. They love it some everyday, plus when we're joined by them and I, really love them. I said you gotTa give the people what they want hundred percent. And I said three more people at the later as three more people just reached out keeping you updated. Now said they do be eating fast. Though how many stories per day once they're in their crystallises. says. Okay, and I said none for you, and then I sent her a screen recording of me blocking her from my stories. And then what did you say I? Said? Wow I didn't know you could do that on now. I. Feel left out and then. And then. I waited like a day and kept like checking. She'd unblocked me, but I couldn't see any of her stories, so I was I didn't realize I had actually blind. One video by block you from like all my seniors. To, say I'm firmly on errands side cake pan evidence in his. This love this show. Yeah, they're so good. I have some more really. Good videos are today. They were fighting there to them wanted to go to the Irish and they were fighting, and it was really nice I think they're fun so. Honestly yeah that's fine. That's fine. I. Can Love. Everyone does too so yeah, and you know they're not going to be around for long. So I'm trying to get my my joy in while I can and so I'm excited to have a whole weekend. We can just hang out outside all day. Gaze at them. Look at them. Look at what they're eating. Look where they're building Christmas out the other thing I wanted to. To say another reason I'm excited that it's the weekend and they're all starting to get into Christmas mode. Is that because? Is that because today around nine? AM, of course, go out. Go look at him. Check all of them. Count on what they're up to and look at the Christmas one. So what they do is they start out when they're starting out with their Christmas, thing they. They get on the little branch and then the kind of curl up, so they're attached via some like silk. They make a little soap, wlob and glue their face onto the surface, and then there little tail, and they get in this like so they look exactly like the. Caterpillar said through there in this. Really we're kind of curved. Pose okay, and so It had been that way for like. Like a day I got this morning and I'm like. Oh, it looks I almost took a picture almost an instagram video of it, and then identity, and I was like okay. It looks like it has been except more shriveled right like it's about to do its thing those nine am. Molly comes up and she was at nine thirty. She was like. Did you see the Christmas and I was like? That you know, it's just like Kinda. Curved up and she shows me a picture in. It's like full on Chrysalis, so I think that transformation happened like I'm positive. I went out. It was around nine, and she came around nine thirty like before nine thirty, because I was about to meeting that transformation I think happened within the span of a half an hour, so I'm really hoping. To. Catch one of them this weekend and hopefully watch the whole thing so anyway. This video want upload. Wow, all have to that would be. Yeah that would be neat. Though stay tuned. This obsession has got on for long enough, so I won't do my other one I'm sure I'll still be obsessed to the next week. I love unloving these fat factors. They're so nice. And you know in this in this economy, it's hard to find like moments of things that really just bring you like a lot of pure joy, and these fucking caterpillars really have. They really have that's good hannatised. Guilty for like really shitting on my. Yorker having an okay. Having a private opinion. Her privately held opinion is very good thing to have. Feel fine, I feel great. Honestly Karsh `blanche. You know catch blonde. And if you do go on Instagram to take a look, maybe created instagram account because you're just so curious. I have saved them all in a highlight on my. Profile so you can watch every single ever made. Every every video of ever made. A walks Oh, yeah, great, perfect, perfect perfect. The! Stories called fat cats. Let's off the end. Okay, well, if this bit of a cliffhanger, but that's okay. Yeah I've got two more in the in the in the on the hopper. So feel okay about that. I'll just sprinkle them out i. feel good about that I feel really good about that. Okay I. Just wasn't weekly podcast own. Yeah, that's true I. Just find. That can't remove either of you, so that's pretty annoying from what from this call? Just ask. Why why? I wanted to know what the buttons did. And what I found out is PINTA screen. You can't remotely mute participant.
"blanche" Discussed on Way Too Broad
"And what are we drinking? What's I good question I. Then wage her. that. An ice water in a second ice water because it's so fucking hot here it's. Saying. Yeah good question. It was like ninety one today. Be Ninety two tomorrow thing. It's not that hot today in North Carolina. It wasn't that hot here in Wareham. Forecast for the for the highs guy, there's nothing I want more ninety two. To Ninety Nine, hundred, ninety, one, eighty, four, eighty, seven, eighty, seven, my house. Is Hop It's only like low eighties here. I'm only like an hour from Ben but I'm closer to the water, so we gotta go. I gotta read my four cats. I feel left out. The report we have. Signed today. I'll go ahead. Kevin! This is my time. I am, Anna. Today with a high eighty to eighty, eighty, five, eighty, nine, ninety, one, eighty, five, eighty to eighty, five, eighty, seven, eighty five. That's why we're just why. Why is it so much warmer here than it was? fucking, north. That's to heart also. Bad? It's not I mean for abode seventy five. Seventy five is the best temperature I think. Seventy, two, seven, hundred, sixty five. Yeah, yeah. That's my. That's my sweet spot. Sixty, five, seventy five I would say. That's I like that, too. Not No complaints there, but you know I. Take it as I get it. You know what I mean so so. So a fun thing has been happening. here recently.
Trump campaign ex-aide Manafort released from prison amid coronavirus
"He's not exactly a Freeman but former trump campaign chairman Paul man afford convicted of conspiracy and tax fraud and the Muller probe he is out of prison Manafort's attorney Todd Blanche says his client will serve the rest of the sentence in home confinement due to concerns about the corona virus the seventy one year old metaphor was released Wednesday morning from FCI Loretto a low security prison in Pennsylvania Manafort had been serving more than seven years in prison following his conviction his lawyers and asked the bureau of prisons released into home confinement arguing that he was at high risk for corona virus because of his age and pre existing medical conditions Rosada Jeremy
Music News: New Releases, Upcoming Tours, And Chart Toppers
"Now. It's time for new releases. Antunes new album releases Ozzy Osbourne Ordinary Man Royce. The five nine voice the five nine the allegory. Grimes Miss anthroposophy. Gene cannot know how to pronounce that coldplay. Everyday life. Dj Snake cardio `Blanche Deluxe Cardi Blonde Deluxe and holy broken heart new singles. The weekend after hours Ozzy Osbourne featuring post Malone it's rayed yellow busy. Keep it in the streets Pearl Jam Super Blood Wolf Moon. Tripler trooper read featuring. Russ the way Victoria Munay a Sacramento California native moment. Bt's featuring SIA on and what a what Alanis Morissette Smiling Now Billy Eyelashes. No time to die. Debut at Number Sixteen on the Billboard. Hot One hundred dated February twenty-ninth marking marking the latest theme song from James Bond Film to reach the chart. Time is the highest charting bond theme on the hot one hundred since Adele Sky Fall which debuted and peaked at number eight in October. Twenty twelve. Justin BIEBER's changes earns him his seventh number one album on billboard. Two hundred chart do a Liba is. Don't start now. Rises to number one on billboard's pop songs Radio Airplay Chart Dated February twenty ninth marking her second leader on the survey she. I reigned for four weeks in February twenty eighteen with new rules on tours and festival news. German electronic duo craftwork announced that a North America tour will be coming this summer in one. Nine hundred ninety. They changed the direction of modern music with the creation of their game. Changing electronic project that focused on robotics technology and the ideas images and sounds of the future. The German act is widely credited as creating the soundtracks for the digital age and influencing the sound of electronic music across all genres these performances will be an extension of the group's renowned three D. performances. And the first time in four years at craft work has performed this three D. Show in the states tickets for the tour go on sale to the public on Thursday at ten A. M. local time British bands. Pet shop boys and new order are heading to. North America for a joint headlining tour beginning in September. The Electronic Act will band together for the unity tour set to launch at Budweiser Stage in Toronto. The weekend is launching a headline tour a headline world tour ahead of his upcoming album. So the weekend is launching a headline world tour ahead of his upcoming album. The after hours tour is set to kick off June eleventh in Vancouver produced by live nation. The fifty seven date global trek will travel to arenas across the US Canada the UK Belgium the NAB The Netherlands Germany and France through November twelfth. The Toronto Singer will be joined by Sabrina. Claudio and Don over in the US and ate lamb and Claudio in Europe. Now onto the top. Ten songs played in the United States according to Apple Music Rowdy rich the box. Guess what still number. One young boy never broke again. Lou Top is number two. I just downloaded his album. Which I come out since he keep on popping up on these list number three future featuring drake life is good number. Four young boy number broke again. Redeye number five. Roddy rich featuring mustard fashion number six. This young boy is all over this list here. He is again with fine by time and number seven with knocked off. So if you didn't get that I'm just saying young boy never broke again but yeah he's six seven as well Number Eight bootie boogie. You WOULDA hoodie featuring rowdy rich numbers number nine the weekend again with after hours No it's not again number nine the weekend with after hours number ten pop smoke your instill no baby. Maybe his days on the top ten are over. Now let's compare that to the top. Ten songs played globally according Apple Music Rowdy which the box at number one in the US and globally still number two the weekend blinding lights number three young boy. I ain't saying hey y'all know who he is. Low Top number four future life is good featuring drake number five just bieber intentions number six the weekend after hours number seven tones and is back on the list of dance monkey number eight rowdy rich featuring mustard high fashion number nine Justin Bieber Yummy in number ten boogie would a hoodie numbers. Now what have I been jamming first off? I usually don't listen to singles nor talk about them. Prefer to listen to the entire project but I am really dig in this new a lantis smiling track. It's classic Atlantis. I mean it has me excited for the album and just happy that she is still making amazing music. Now I'm working my way through royse the five nine the allegory. It's twenty two songs and in our in eight minutes long. Soa Is GonNa take me a minute. I mean in this new world of EPA's anything longer than thirty minutes is a mission to get through but Royce is classic hip hop he is woke af and so are his kids. His interludes with his kids included includes him quizzing them on woke facts. I taught them. It's a heavy won't because it deals with race in America and its history with race. The production is incredible. I WANNA have expected anything less from Royce now Christian hip hop albums whole the broken heart. Ep So I never heard of this up and coming rapper slash singer science rapper. Lacroix's reach records but Craig plug him on his. I G saying congrats semi guy at Harvey official on his EP. Keep your eyes on this kid. So that is the only reason I checked out this kid. 'cause I'm Craig Fan? I didn't learn that craze signed him to I didn't. I didn't learn that cray signed him until I listened to the EP and then I started researching the kid now dudas talented and he looks like a regular dude like nothing about him. Screams artist so watching his visuals on. Youtube is kind of mind blowing. I mean each track on the EP has a visual. So you can choose how you would like to digest his prajit cold world or cold water and if I gave it all our my standouts But the entire album. You can listen from start to finish. I mean it's an EP It's super short. The run time for this one is wall on Apple Music. Obviously that's why I have Include it's only six tracks but it also includes the visuals on it so it says that it's twenty or forty minutes but I'm GonNa just cut that in half because it's literally like a double album with visuals. So it's probably only twenty minutes so you see it's easier for me to run through twenty minutes than in our eight minutes like royster five nine so I did get to get through all these a few times And it's definitely worth a
Lightning Labs Beta Tests Its First Paid Product: Lightning Loop
"Is lightning loop. Yes sure so. Lightning loop is a product that we had lightning lobster developed to make it more efficient to send receive bitcoin on the leading network and the nature of lightning is such that you have amazing speed amazing skill ability and very low fees but there there is a requirement of liquidity. And what that means is if you want to receive funds on lightning you need what we call inbound liquidity to do so and this is more obvious to the average individual but if you WanNa send funds you need funds on the side that you're going to sentence you need the ability to save money in your account as lighting Luke does is it helps people relocate their funds in the network so for example if a lot of people have sent me funds on lightning already and I no longer have that inbound capacity liquidity as we call it I then can no longer keep perceiving those funds so lighting could actually help people by moving their funds from lightning back to the bitcoin. Blockchain Nagas Odio manner so they could keep receiving and and then similarly If you want to send funds online and you can actually refill your channel. Think of it as refilling an account using lightning by swapping funds from the Bitcoin blockchain onto to lightning So in analogy. I sometimes use Luke. Inas be calling you refill. Your channel is kind of like Refilling your prepaid debit card or a couch loop out is a little bit harder. Because we don't usually have that concept but if you had a cash full of cash and you actually did take cash out and then you can continue to receive money in that register. Not so that works. So Relating Louisville product we already had it in Alpha had quite a lot of startups involved Some great folks like fold have been users of it and it's helping. Their businesses is helping them. More effectively center received funds enlightening. And we've gotten a lot of good feedback so far and we announced the Beta with increase limits for people to be able to move their funds in and out of lightening from the decline `Blanche blockchain and would have the limit spin. And what are they now so lightning that were generally today has a limit of around fifteen hundred. US dollars per channel so channels are kind of like accounts on the network people open multiple channels between two participants. Anouk there's also a transaction action limit Which is point zero four to BTC? So it's about three hundred three fifty dollars. Depending upon the Bitcoin of the day loop originally was capped. Ah previously at half. That's about one fifty now. It's up to around three hundred three fifty and that will stay in place while the cats are present on the lightning network more broadly. But there's something called one Bo kind of like jumbo. W that is derived from spongebob. And crash relying co-founder lawlor spongebob. I just missed the whole. Spongebob thing but he's really is about larger channel sizes on lining doing so today. We soldiers limits in place chose to do so for safety and security reasons but with one Bo it will be opt in larger channel sizes so the good news is somebody will unintentionally opening massive channel and not realize what they're doing but if they choose to do so they'll be able to opt in and put more capital until lightning in these channels So with one Bo in the broader network will also increase Luke capacities as well as you mentioned you know the limits so far have been pretty small. Aw but you did talk about some of the companies that are building on them. So what are the typical applications that companies are using lightning for now. Yeah so we've seen this the whole host of startups emerge which has been really incredible Less than two years ago at Lightning Labsi release the Beta version of our implementation of lightning network. There are numerous implementations implementation's there's US you lightning from extreme. There's a clear from a sink so we built ours. We release his Beta. And since then we've seen a whole new crop of startups emerge. I didn't even exist prior to this. Many of them are focused on lightning. I so there are a few categories of these One that I know our head of Operations Desert dickerson loves a UH the rise of the lightning gaming startup so quite a few video game companies have emerged. There's ZD Donner lab. SUSHI's games where they're integrating lightning payments into their video games. So I think that's a really Case we've seen a lightning payment startups where you can buy things with lightning. So we have full bit refill. Fill open node. Helping people is a payment processor. There's not pay where merchants can integrate bitcoin lightning and run their own when sulfur in order to do so. So there's the ability to pay with lightning. There's Latin pizza which is a cool project from fold where you can order pizza with lightning And in some cases as you get back as well then we have the earning with lightning companies. There's a great one called stock. I mean who doesn't want more bitcoin. I won't Bitcoin. The people think of lightning people spending bitcoin. But there's actually huge potential people. Earning Bitcoin as well so stock is a really great start up just on the founder last night where people can complete these tasks if you know Amazon Mechanical Turk and they earn Sushi's on lightning because think about it this way if you wanted to pay people around the world's talk radio different countries to do small tasks and you wanted to do it with you know in the Fiat system. Good luck you know. That's just not going to be possible. So stock is a great way to complete tasks do this micro work and earn on With lightning and then dirk companies like tip in and a variety of products where you can actually two people apple and again earn people can actually make money with lightning a noisy the rise of a lightning financial startup. And they're quite view these as well river financial toll for example and disclosure personally in my personal capacity and adviser they are they integrated. Led lighting where you can deposit and withdraw and you can buy Bitcoin coin with dollars and drugs and lightning or you can deposit and then tell for USD we have which is building a lightning native eight of API We have sparks. which is doing trading zapped which is doing OTC You can transact between USD and lightning A host of those in the way of the wallets under great wines like Breeze Moon Zappa also working at a wallet. There's Lula while Toshi so there's really been just as shoot ecosystem that has emerged in less than two years and This fall we co organize a lightning conference we had I five hundred developers enthusiasts community members in Berlin people came from all around the world every continent and it was incredible to see that in person. It's an to release the ABI tangible and enter this world of lightning where everyone was buying. There was a lightning beer tackling cocktail by. You could buy ice cream hot chocolate. Let all sorts of interesting things would lightning. You could play video games as lightning. There's a letting scooter tesla coil. Where when you painted at actually sparked like ooh yesterday I actually live on Yahoo Finance livestream? Our head of operations said the chickens. Paul you feed this community is their real business. Being built in town moved but there are also these crazy used cases. You're like wait if I if I've got a a few years ago that the technical building was gonNA help us chickens like it happened
Joe Henry Preaches His Own 'Gospel'
"Singer. Songwriter Joe Henry Grapples. With his latest record and the difficult circumstances that inspired it. And I know that people are going to hear this as my so called cancer record and I- Blanche at that but I also can't fault it because you you know. The songs grew up in that field.
Trump lawyer Dershowitz argues president can't be impeached for an act he thinks will help his reelection
"Because well the drama in Capitol Hill is whether that vote tomorrow will produce for rebel Republican senators who will say you know what we've sat here we have enabled calm and they read all questions on the cue card Chief Justice Roberts but I think will need to hear a little bit more from Bolton himself maybe some of the documents we don't know what that what that vote will amount to at this point I guess if you were taking action like you would Superbowl action between the chiefs and the San Francisco forty Niners now take fifty fifty it's it's sort of suede it looked like they had the Republicans they will more than four now looks like maybe they don't so we'll see how it turns out but while all that was taking place while McConnell was meeting separately with mark how ski apparently trying to convince a no no you don't want to join Collins said and Romney on that and become the Republican senator number three to jump ship Alan Dershowitz who's considered the legal beagle from Harvey took to the floor in defense of the president of the United States is part of the legal team I made an argument I did not the socks off of people whether your legal experts or you would just pragmatic in common sense no matter what your politics all over the world will watching in fact he talked about the quid pro quo that would be used towards gaining an edge in an upcoming election of a sitting president every public official what I know believes that his election is in the public interest and mostly right your election is in the public interest in for president does something which he believes will help him get elected in the public interest that cannot be the kind of quid pro quo that results in impeachment I wish I was I literally went wow if that's that's their defense that's their final word on this that is bad because I need so basically what he's saying is president is a green lit what to do what ever the hell he wants as long as he's saying and the presidential interest me getting reelected is omnipotent yeah infallible and because he's already present he or she should have the right to use a quid pro quo in order to stay in office because it's to our benefit it's the people spend in fact right so that I'm not miss quoting it and will obviously allow all of our listeners to weigh in as to what Alan Dershowitz men on them is one eight hundred eight four eight W. A. B. C. that's one eight hundred eight four eight nine two two two listen to what he said from the well of the Senate yesterday that has people shaking their head light I thought this was the legal lion of Harvard every public official that I know believes that his election is in the public interest and mostly right your election is in the public interest in for president does something which he believes will help him get elected in the public interest I cannot be the kind of quid pro quo that results in impeachment the reason our fathers created this concept of impeachment was very simple presidents are not gods they're not kings they're Americans who have been chosen to serve the country not their families not their friends not themselves but the United States of America and our founding fathers understood that man can be a moral man can be corrupt and so they set up a system of checks and balances are and further protected the country with the act of impeachment but now our president's legal team has suggested that anything the president wants to do as long as he claims that it's done in the national interest of getting reelected he can do right yes carte Blanche to behave with unrestrained abandoned if you once and if you're already a sitting president and he seems to imply it's in our public interest that you continue to be present and fulfill the two term limit and if it means dealing with a foreign power in which you do a quid pro quo okay look we're helping you with giving you a I need you to help in terms of digging up dirt on my adversaries my opponents whether they're running against me in a primary like Jimmy Carter remember had primary was primary by Ted Kennedy before he had to run for reelection against Ronald Reagan when he lost think of that think of the ramifications and then naturally everyone was stunned because he remember woozy Alan Dershowitz who was so different during Clinton Bill Clinton's impeachment what happened since nineteen ninety eight is that I studied more did more research read more documents and like any academic older my views so so in in so it's his mind there is there is no such thing as abuse of power when you're president so yes he may have pressure Ukraine to dig up dirt to trash Joe Biden he may have held they have hundreds of millions of dollars allocated money to Ukraine to add to the pressure but it's okay because even using the power of your office to serve yourself is okay if you are president I have to tell you guys this is the GOP's argument and if if you support this if the if the senator support this and they reelect him and his supporters you will be ending democracy as we know and I'll tell you as a former Republican lifelong I'm fairly certain will not go down on the right side of history with this one does she which as a former Democrat solid Democrat right across the board he's basically saying because now he is a supporter of the Republicans that he has a different view but as a lawyer let's face it he didn't say this he's a Hessian he's a mercenary lawyers are trying to argue a case both point at the same time in Los right will look the perfect example kellyanne Conway I'm not picking on her because she's trumps person but she has been she was you early on in the campaigns she was ripping trump apart as was one zero and this is what they do but I mean this is this is all about what's going to happen to this country and the democracy but the country this is a man whose reputation for being bright when it comes to legal matters and giving it to you straight has now been dramatically compromise because he has basically said you know when I was a Democrat I sure did Democrat way now that I support the president and the Republicans because save embrace me I see it the
Trump's defense shifts to not 'impeachable' even if true
"Every public official that I know believes that his election is in the public interest and Alan Dershowitz argues those officials do what they think is needed to win an election saying it's impossible to know exactly what their motivation was personal or public good or a mix of both and that means their conduct cannot be impeachable it's done the house prosecutors like Adam Schiff if you say you can't hold the president accountable in election year where they're trying to cheat in that election than you are giving them carte Blanche senators will continue asking questions of both sides to date with a vote expected tomorrow one calling witnesses Sager make on the at the White House
National Security Council warned Bolton not to publish manuscript
"An Official Writing Bolton's book manuscript may not be published in its current form because it contains significant amounts of classified information. Three days. Later the bombshell New York. Times report that in the manuscript the ousted national final security adviser accuses President trump directly linking military aid for Ukraine to investigations of his Democratic rivals including the Biden's. Let's call John Bolton Bolton today during a question and answer session in the Senate impeachment trial Democratic prosecutors again pressing for Bolton to appear you can subpoena Ambassador Bolton ask him that question. Directly President trump blasting Bolton's book as nasty and untrue tweeting quote. Why didn't John Bolton complain about this nonsense along time ago adding? If I listened to him we would be in world war six by now. The president's outside attorney piling on. Here's the conclusion I can come to. And it's a harsh one and I feel very bad about it. He's a backstabber. But one key Republican who wants Bolton to testify praising him do you have any questions about John Bolton's credibility I think any Witness would be evaluated in terms of their credibility but I have a great deal of confidence in John Bolton still tonight under fierce pressure from Republican leaders and the White House Republican sources versus tell. NBC News they currently believe they will have enough votes to prevent calling additional witnesses at a vote expected. Friday anticipating Democrats will come up at least one vote short short of the four Republicans they need. It's an uphill fight as I've always said I'm not sure. Additional witnesses are going to benefit anybody on the Senate floor floor tonight. White House defenders. Making new argument suggesting a president cannot be impeached for doing something to help himself politically as long as he believes what he's doing we'll help the country and if a president does something which he believes will help him get elected in the public interest that cannot be not the kind of quid pro. Quo that results in impeachment. If you say you can't hold president accountable in an election year. Were there trying to cheat in that election than you are giving them carte blanche late tonight. John Bolton's lawyer pushing back saying that they don't believe that any of the material in the Ukraine chapter of the book could reasonably be considered classified
WeWork Rise Helped by Wall Street's Cash and Credibility
"Now our main story this morning it has to do with we work. But this time we're not going to be looking at co-founder founder of Newman's behavior or a soft bank's role in funding the company's rise. Instead we're going to turn to Wall Street reporting that part of what fueled we works. Rise was access to large loans from institutions like J. P. Morgan and Wells Fargo but even as the banks lent millions internally. They worried about the weak company. Charlie Turner are has been finding out more from David. Benoy Te David we works rise and fall was pretty dramatic. What happened to the office? Space Leasing Company. I mean it was a Wall Street Darling with major banks jockeying for a role in the company's IPO lending at hundreds of millions of dollars. Sure Yeah I mean certainly I think when a company loses forty billion dollars in valuation. There's there's a lot of blame blame to go around What what we've been looking at recently is sort of in the rise section of that of that narrative how Wall Street financing really power our this company and it was lifeblood in a lot of ways in a way that we haven't really explored before? Well what about the conflict between the banks basically building up this company and questions about its money and also its business model so what we found was that inside the banks on their lending side. They were pledging these. These large urged lines of credit to we work five hundred million and six hundred and fifty million and then they had struck this deal with the IB over six billion dollars in debt. I A huge loan really on on any scale for for a company like this but internally they were they were actually pretty concerned about we have reporting back through two thousand seventeen of banks blanche at the model that we work was doing it. It's cash flow insane. Well Horse Second. If we're going to give you money we're GONNA need one a lot of protection that you're GonNa pay this back and you know we're going to do a lot of fees so that six billion dollars came with two hundred and fifty million dollars of fees okay. Well that was the fees end of what about the money end of it on On we works day was it was chronically bleeding cash right right. Their their model was to essentially bleed cash. They willfully did not make money while they grew we works. Rises really elite. Fueled by by these bank lines of credit so the way the company works is it goes to a landlord signs a long term lease the landlords at the beginning need a bank letter. Just like when you rent engine apartment you might need a guarantee for a few months upfront. So the way we were structured this was they went to the banks and they got these big pots of money and they took parts of those and would send them out as letters and they'd come back and I was how we work was able to grow at such a rapid rate. Even though it wasn't bringing in cash it didn't actually need the cash to grow in needed. These bank financing lawyers. Why don't you talk about wells? Fargo and their role. Sure so so wells. Fargo's an interesting player in this because they're not typically known as a as a Silicon Valley type bank they're not typically the big IPO bank. They got involved in two thousand seventeen and what our reporting turned out was actually kind of a big deal inside Wells Fargo and they got pretty worried and what they they were worried. Read about the the cash flow. The company are worried about Mr Newman and his personality. Essentially and so we heard that the the loan went through several rounds of appealed field and got rejected internally by the bank and ultimately had to be signed off on by top executive and that just shows that's just one example we think of showing inside the banks there were actually the legitimate concerns about what was going to happen. We work there weren't really portrayed out externally until the IPO fell then Where did things start to go sour for for we work As it approached its IPO date or it's planned IPO date. Sure so the banks are giving all this money trying to help take it out public to investors and that's when it starts going sour they put up the perspectives that details. What we work is in all of its dealings and investors say well? We're not comfortable comfortable with that somewhat. Echoing what we had found out the banks had been internally saying. When is this company going to turn a profit? When when are we going to be able to reap some of the awards if we work in investors said? We're not buying this at the valuations. You think it's worth