Also: 🇳🇴 Norwegian e-krone? 💩 Reveal Bullshit ✌️ How a financial statement should look 📈 GME
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February 15 · Issue #47 · View online
A weekly summary of the latest news in our world of finance, design, and technology.
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Also: 🇳🇴 Norwegian e-krone? 💩 Reveal Bullshit ✌️ How a financial statement should look 📈 GME - Robinhood continued 🏴☠️ The pirate problem
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Stephen Diehl argues otherwise: “[Euro is] actually used as an effective medium of exchange that enables millions of Europeans to live their lives. What can bitcoin do? A pitiful 7 transactions per second for some unclear speculative purpose. The ratio of utility to waste of bitcoin mining is a singularly wasteful human activity that serves only to enrich a tiny set of colluding insiders in advanced economies.”
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If there is one thing I dislike, it’s marketing speak making the text unreadable because of unnecessary jargon or company speak. This week I tried to read Nasdaq’s tech trends for 2021 and fell short for this reason. Try to read this in one go without stopping a few times: “The powerful combination of cloud, federated learning and homomorphic encryption could potentially overcome regulatory and other barriers to sharing and analyzing data for purposes such as fighting financial crime and improving market integrity”. In this case, I have a fun bookmarklet I like to run, called Bullshit.js, that reveals potential bullshit terms in a text. Try it out, it’s quite fun and might lead to better, more understandable writing!
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Nasdaqs tech trends with Bullshit.js turned on
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Adyen, the Dutch payment company, delivered a smoking hot financial statement last week. Both in terms of results (H2 Net revenue +28% YoY), but it also sets the mark on how a financial statement report should look. Look at this Sankey diagram to explain their total revenue in one beautiful chart:
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If you write a newsletter that covers tech and finance, you kinda have to write about Gamestop / WSB / Robinhood Patric McCormick
Well, we did two weeks ago, pointing to the best writing we’ve found. But what has happened since? As the GameStop stock fell in price, so did the news and the reports about it. Patric McCormick from Not Boring has written an engaging read on why the GameStop situation was inevitable given how Robinhood built and incentivized itself. Interestingly enough, he compares Robinhood to Uber and Napster when he’s writing about where Robinhood is going forward.
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