"From 1980 through 2001, if you had bought the average IPO at its first public closing price and held on for three years, you would have underperformed the market by more than 23 percentage points annually."
Ignoring the huge black swan event in your data (the tech crash), the point of getting in on an IPO isn't for you to hold it 3 years.
You get allocated shares that you then sell before the lockup period for everyone else expires. It's just risk-free money for the people that are friends with the underwriters.
I don't have the data on me, but I bet if you got into every IPO from 1980 through 2001 and then sold after one month, your returns would be pretty damn good.
"And finance professors Jay Ritter and William Schwert have shown that if you had spread a total of only $1,000 across every IPO in January 1960, at its offering price, sold out at the end of that month, then invested anew in each successive month’s crop of IPOs, your portfolio would have been worth more than $533 decillion ($533,000,000,000,000,000,000,000,000,000,000,000) by year-end 2001."
"Unfortunately, for every IPO like Microsoft that turns out to be a big winner, there are thousands of losers."
"You could have earned that $533 decillion gain only if you never missed a single one of the IPO market’s rare winners—a practical impossibility."
There's something funky going on with that chart. Military spending is about 20% of the budget when you include Veterans benefits. You're right that it's smaller than the ~50% spent on SS and Meciare/Medicaid, but after those it's by far the biggest budget item.
We did not go from 700 billion to 50 billion spent on the military from 2017 to 2018, so yes, that chart (and the associated data) is bullshit.
There are a ton of technicalities involved in government budgeting and accounting though. It's just not a chart you'd want to share to make an honest point in a conversation like this.
This budget for FY18 looks completely incorrect - where is the $500b+ of defense spending?? It shows up in their FY17 budget, but has shrunk by 10x in FY18.
I never said we spend more on the military than anything else, and the budget you provided just helps to make my point clear. The main hitters of the budget are all social services that are politically impossible to cut. The top non service line items are the VA and defense.
> A new agency with ICE's original charter would be a reasonable thing to have, but there's no way to get that under the current structure.
It seems to me that you can run ICE without necessarily having figures like Joe Arpaio or Donald Trump as ideological sponsors while accomplishing the same job.
I've read on a few occasions that immigration was even more strictly enforced under Obama's administration, but it was done without xenophobic rhetoric, which seems ideal.
So it's totally okay when we block advertisers but when developers are the ones under scrutiny, suddenly the user-centric argument is out the window.
I think this is a great idea. It puts pressure on developers and makes experiences better for users. The average American Internet speed is sub-100 Mbps, but average LTE speeds are closer to 12 Mbps, with websites opting usually to use responsive layouts over separate mobile sites. This means you're downloading the full resources of a desktop site, and the mobile device is adjusting to media queries.
5 MB / 12 Mbps is over 3 seconds. That's bullshit. Put pressure on developers, make a better web.
As far as small projects go, it's useful to take what you've learned from larger projects like Bootstrap, and use a subset of that knowledge.
For virtually everything else in production, you should be using themed Bootstrap or CSS framework x, y, or z that fits to your corporate identity. Usually so you can have a front-end engineer make decisions about symbols and have those changes flow out to the rest of your webpages and web apps without relying much on engineering to hand tune everything all over again. This is sort of ideal CSS usage, though it's probably debatable by folks here.
CSS is development more than it is design. It just helps you accomplish design.
Maybe one of the points glanced over CSS discussions is that the traditional visual formatting model was designed for documents, and not web page and web app layouts for today's world. That's better addressed by flexbox and CSS grids. For instance, the entire concept of floats isn't for aligning things, it's for text to flow around "floated" boxes like images. Most hacks like clear fixes were designed to help utilize floats for page layout versus document composition.
Lua can also be modified to have "engine.shared.entities" look for a file named "/engine-shared-entities.lua" and similar things. The creators have cited that Lua is sometimes used in environments where directories do not exist, only files.
