Month: September 2017

Wisdom of the Day

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Commenting on the latest Wells Fargo numbers, Ian Welsh notes that “Numbers which can only be made by cheating, will be made by cheating. It is that simple.”

He is correct. The idea that the epidemic of fraudulently opened accounts were the result of anything but the direct results of the demands of upper management is simply not credible:

My old employer never did anything this bad I was aware of, they engaged in aggressive corner cutting, but tried to stay, well, legal. But what they did that was dubious was known, even at the floor level.

And it was always driven by high level executive demands for targets that simply could not be met by staying in the straight and narrow. Always. Low level employees do much of the dirty work, but they do it because it is demanded, and because if they don’t they will be let go or fired.

Unfortunately, we won’t see John Stumpf frog marched out of his home in hand handcuffs, but that is what happened.

How Utterly Proper

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There goes the browsing history… Many thanks to @steamfair. Soon to be on display at @SalisburyMuseum in September https://t.co/Di8tvTO4Hi pic.twitter.com/onGGWLDYL4

— Terry Pratchett (@terryandrob) August 25, 2017

Terry Pratchett died in 2015, and he left the most Terry Pratchett of instructions regarding his unfinished works:

A hard drive containing the unfinished books of Terry Pratchett has been destroyed by a steamroller, in fulfilment of the late author’s last wishes.

The works were crushed by a vintage John Fowler & Co steamroller at the Great Dorset Steam Fair, ahead of the opening of a new exhibition about the author’s life and work. It is thought up to 10 incomplete novels were flattened.

Friend Neil Gaiman, with whom Pratchett cowrote Good Omens, had revealed in 2015 that Pratchett had instructed that he wanted “whatever he was working on at the time of his death to be taken out along with his computers, to be put in the middle of a road and for a steamroller to steamroll over them all”.

Pratchett’s former assistant Rob Wilkins tweeted that he was “about to fulfil [his] obligation to Terry”.

The hard drive will go on display as part of a major exhibition about the author’s life and work, Terry Pratchett: HisWorld, which opens at the Salisbury Museum in September.

Pratchett died in March 2015 after a long battle with Alzheimer’s disease aged 66.

Epic.

Why We Hate Them

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Comcast has sued the state of Vermont to try to avoid a requirement to build 550 miles of new cable lines.

Comcast’s lawsuit against the Vermont Public Utility Commission (VPUC) was filed Monday in US District Court in Vermont and challenges several provisions in the cable company’s new 11-year permit to offer services in the state. One of the conditions in the permit says that “Comcast shall construct no less than 550 miles of line extensions into un-cabled areas during the [11-year] term.”

Comcast would rather not do that. The company’s court complaint says that Vermont is exceeding its authority under the federal Cable Act while also violating state law and Comcast’s constitutional rights:

The VPUC claimed that it could impose the blanket 550-mile line extension mandate on Comcast because it is the “largest” cable operator in Vermont and can afford it. These discriminatory conditions contravene federal and state law, amount to undue speaker-based burdens on Comcast’s protected speech under the First Amendment of the United States Constitution… and deprive Comcast and its subscribers of the benefits of Vermont law enjoyed by other cable operators and their subscribers without a just and rational basis, in violation of the Common Benefits Clause of the Vermont Constitution.

Rival providers Charter and Burlington Telecom don’t have to comply with these special requirements, Comcast said. Instead, the other companies “need only comply with the non-discriminatory line extension policies” established in a VPUC rule.

Comcast’s complaint also objected to several other requirements in the permit, including “unreasonable demands” for upgrades to local public, educational, and governmental (PEG) access channels and the building of “institutional networks (“I-Nets”) to local governmental and educational entities upon request and on non-market based terms.”

………

Comcast often refuses to extend its network to customers outside its existing service area unless the customers pay for Comcast’s construction costs, which can be tens of thousands of dollars.

Comcast is regularly at the top of the list on the most loathed company in America, but somehow or other, they continue to flourish.

There is some sort of profound market failure going on.

You Ever Notice What Happens When the Silicon Valley Mindset Meets the Real World?

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First Theranos, and now Juicero.

In all fairness, Theranos has a harder job, they were actually in the healthcare business, which involved deceiving regulators, which is hard, while Juicero was just a f%$#ing juice machine:

It sounds like America’s favorite $400 juice machine will be no longer.

“After selling over a million Produce Packs, we must let you know that we are suspending the sale of the Juicero Press and Produce Packs immediately,” reads the company blog post.

Juicero will also be giving people money back. “For the next 90 days, we are offering refunds for your purchase of the Juicero Press,” according to the note.

Founded by Doug Evans, San Francisco-based Juicero had raised more than $118 million in funding from prominent VCs like Google Ventures and Kleiner Perkins. Carmelo Anthony also invested through his Melo7 Tech venture fund. Even The Campbell Soup Company threw money at it. Juicero started raising funding in 2013 and launched 16 months ago.

The company was subject to mockery, particularly after a Bloomberg piece showed that the juice packets could be squeezed by hand and did not require a fancy machine.

The emperor has no clothes.

If regulators and prosecutors did a deep dive on Silicon Valley, those that weren’t in prison would be asking, “Do you want fries with that?”