power of 1/10
Kind of the inverse of The Eames video Power of 10
Cell Size and Scale
Who let this guy on the internet?
Kind of the inverse of The Eames video Power of 10
Cell Size and Scale
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science
Probably the most egregious example that Obama's picks for dealing with this financial crisis are all in cahoots with Wall Street,
New York Fed’s Secret Choice to Pay for Swaps Hits Taxpayers
To summarize: Before AIG went kaput, the CFO for the financial products division was trying to get banks that had bought credit default swaps from AIG to accept 40 cents on the dollar. Rephrased, Banks like Goldman Sachs bought insurance policies from AIG that were being called. Since AIG could not possibly pay for all of these policies it was seeing if they could negotiate smaller payouts. Goldman already realized AIG couldn't pay and had written down these assets. After troubles at AIG became apparent, Geithner and the Fed took over negotiations. How well did they negotiate?
“After less than a week of private negotiations with the banks, the New York Fed instructed AIG to pay them par, or 100 cents on the dollar.”Unbelievable! To sum up the reality in one person's words,
“There’s no way they should have paid at par,” she says. “AIG was basically bankrupt.”Even more galling is that people in the Fed, like the chairman of the NY Fed, took advantage of this to purchased Goldman Sach stock. He netted himself about $5.4m in profits.
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wall street
You owe it to yourself to read the account of NY Times journalist David Rohde's capture by the Taliban and eventual escape. It reads like a work of fiction. Undoubtedly this will be turned into a movie.
Part 1
Part 2
Part 3
Part 4
Part 5
Epilogue
Interactive Features
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miscellany
Fascinating crash test video showing a 1959 vintage car crashing into a 2009 vintage car. It should be obvious who wins.
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technology
I finally got around to trying one of the Pat La Frieda burger patties that is being sold through FreshDirect in NY (see orginal article here). I have one thing to say. Oh my God. This is clearly the way to go when making burgers. A couple of points,
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food
Sorry but this article in the NY Times detailing how China is 'racing ahead' of the US in solar is way off base. The title doesn't even match up against what the author has written.
"Chinese companies have already played a leading role in pushing down the price of solar panels by almost half over the last year"Actually the drop had a lot more to do with the oversupply of a key input, high purity polysilicon, and the drop in demand following the credit crisis. Asian solar companies cost structures continue to drop at the rate they always have.
Shi Zhengrong [...] said in an interview here that Suntech is selling solar panels on the American market for less than the cost of the materials, assembly and shipping.Sounds like a great business. I guess you make up the difference on volume. Why aren't we Americans in this great business?
“I don’t see Europe or the United States becoming major producers of solar products — they’ll be consumers,” said Thomas M. Zarrella, the chief executive of GT Solar International.Actually Europe and the US are already large producers of solar products. They just don't buy a lot of GT Solar's equipment. They have more differentiated and innovative products than the commodity products that roll off of GT Solar's equipment.
Suntech, based here in Wuxi, is on track this year to pass Q-Cells of Germany, to become the world’s second-largest supplier of photovoltaic cells, which would put it behind only First Solar in Tempe, Ariz.So wait. The largest solar company is a US company? And it's growing faster than all the others? And it has a differentiated product with insanely huge margins on par with software companies? Really we should give that up for this great negative margin polysilicon module business.
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wall street
Last week I had a nice tour of a nuclear power plant in the Northeast US. There was a bit of a security ruckus over the photos I took but I was able to get away with keeping them after a little fast talking. I'll keep the name of the plant off this post as a result. There was, as you can imagine, a huge amount of security at the plant. I was a little surprised I got the camera in and was able to keep the photos. It was a full day tour compared to the quarter or half day tours at other non-nuclear plant tours I've been to. I think this is because nuclear power plants have much more aggressive community outreach programs given the overall fear some people have of these types of plants.
What's interesting about nukes is that they almost always reside on large wildlife sanctuaries. Ironically they are the cleanest power plants, and in general, the cleanest factory of any sort and make good neighbors for wildlife preserves. Not many people want to live near the power plant so they are given a big berth. No one builds anything within a sizable radius around them.
The most distinctive site at a nuke plant is of course the tower below. It's iconic. It's the largest part of the plant and so its the part everyone sees. It's funny then that all this tower does is cool water. There's nothing really inside it. It's a large sheath covering a skeleton infrastructure that allows hot non-radiated water from the generating turbines to cool off so it can be pumped back in again. But it's an awfully impressive structure. It's 500 feet high and it has both a ominous feel to it as well as a modern art sculpture feel to it.
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wall street
I've been dying to see a wind farm for a while now and I was lucky enough to get offered a chance recently through one of our sell-side brokers. The wind farm was near Portland. East of the city near Hood River. At that point the lush green pine tree-infested land of the coast transitions to a much more arid desert-like wasteland. This climate change makes the area a good wind producer. As far as the eye could see there were windmills. I'd conservatively guess something like 500 windmills were in the area. Most were of this make. About a 1.6 MW wind turbine. They are impressive beasts to watch. But there are even bigger ones in Europe up to 6-7 MWs.
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wall street
One of my favorite tech bloggers declares, "Google Chrome is the New Firefox, and Firefox the new IE".
He then goes on to state,
It's funny. Browsers seem to be like Internet companies. Every few years a new, small, faster one comes along to kill off some (or all) of the previous generation. I guess this is just the latest in that constant evolution.I'm in the same boat. I transitioned from IE to Firefox and now exclusively use Chrome. For me at least what's going on is that the race for features is overlooking the most important feature; stablity and speed. The bells and whistles that IE and Firefox have are nice but I just don't use them enough for them to compensate for the overhead. My greatest concern here is that Google will kow tow to the voices of criticism regarding their browser that it is missing 'must have' features. To me speed and stability are the only 'must have' features.
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technology
Well I finally completed the last phase of P90x on Sunday. Boy it feels good to finish. It is by far the most intense workout I've ever done. The last month I also went completely hardcore on my food intake. Not quantity; just what was going in. I probably shed about 5 pounds of fat. And the results speak for themselves. I'm probably in the best shape I've been in since I was about 30. I'm much stronger and flexible. And my cardio ability is way up.
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sports
My wife scored a Kindle (second gen) for her birthday few months back from her boss. My wife doesn't read that much, so I've been able to use it over the last few months and have become really addicted to the thing.
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books
Pat La Frieda to sell burger patties to public. Nice. I think this only applies to NY but perhaps they'll have other distributors. Pat La Frieda basically does one thing in NY; makes custom blended burger patties for restaurants. I can't think of a single top rated burger joint in the city that doesn't use them. Until today the only way to get any of their blends was to go to the restaurants that use them. La Frieda's general approach with burger patties is to use a much higher fat to meat ratio and to use a blend of meat cuts rather than say just chuck. They also tend to use prime beef.
I'm sure it'll be pricey I've been meaning to experiment with making burgers recently and I went so far as to secure a butcher who would make my own customer blends (Lobels). This will make it a little easier.
I think the NY philosophy on burgers is radically different from most others. There are a few key elements.
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food
It's incredible the amount of damage two toddlers can do with only a 5 minute nap of their caretakers to work with. I'm not just referring to toys strewn across the floor but actual furniture that has been moved from one room to the other.
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family
So did that seal Contador as the true team leader of Astana? Probably. He has now beaten Armstrong in the individual time trial and the first major mountain stage. That's probably the best thing that could have happened to the team. I think at this point Contador is the better cyclist. We'll see how Armstrong reacts now if he's forced into a supporting role down the road.
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sports
In the past I've blogged quite a bit about the Tour de France as it was being raced. I neither have the time or energy to do that right now. But that doesn't mean you shouldn't be watching it. The first few days have been the most exciting in a couple of years.
The big news of course is that Lance Armstrong is back in this year's race. And today came to within 1/10 of a second of the maillot jaune as his team, Astana, put in a good showing in the team time trial.
I'm not about to start blogging now but I do want to make one comment. I don't think Armstrong has a chance in hell of winning. I think it'll taking something Herculean on his part to pull it off. Here's why.
Most obviously he is old. He's almost 38. As good as he is he's probably past his prime of nailing mountain climbs to gain 30 seconds here and there on a hungrier and younger field.
More importantly his team is a disaster. You wouldn't guess that by looking at the roster. Let's take a look who is on it: Lance Armstrong, Alberto Contador, Andreas Kloden, and Levi Leipheimer; not to mention Armstrong's old director, Johan Bruyneel. So what's the problem? Those are 4 outstanding riders to have on a team. That is exactly the problem. They are too good. They are all contenders and have never played a domestique role within a team. Contador won the 2007 TdF for crying out loud.
Imagine any one of these four guys is in the best position to win the TdF but is in trouble. Would the other 3 really come back and help a struggling team member or would they jump at the chance to steal the opportunity. Kloden f**ked Ullrich many times by not helping and instead going for glory. Contador in many ways should be considered the team leader. Leipheimer's days are numbered and Armstrong's even more so.
Let's look at the current standings:
Cancellara leader
Armstrong +0'00"
Contador +0'19"
Kloden +0'23"
Leipheimer +0'31"
Uh oh!
Unless a clear team leader emerges before the mountains or one or two days into the first mountain trials you are going see some serious shit flying. Which could be entertaining in its own right.
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sports
Phase 2 is done. I'm still on schedule missing only two optional stretch workouts. The biggest problem I've found with a 6/7 day a week workout routine is that if you get sick, you're screwed. If friends visit, you're screwed. I got sick and had friends visit. My solution was to double up the workout which was not fun.
In general things are getting easier. Yoga is still problematic but my flexibility has improved dramatically. Plyo still gives me sore legs the next day but I feel like I'm actually keeping up with the instructor now. Core Synergistics still completely wipes me out though. Overall the workouts are still hard but I feel like I'm getting a solid workout rather than one that I limp through.
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health
The culinary trend in NY over the past few years has been towards restaurants that specialize. Restaurants that only serve mozzarella, only serve desserts, only serve banh mi sandwiches, only serve cupcakes, etc. It's a nice movement because if a restaurant can't excel at that one item then it won't survive.
The latest one I tried this weekend was Porchetta which makes (wait for it) Porchetta. It's an appropriate and smart branding approach to name your restaurant this way when specializing in something. Wikipedia describes it as a savory, fatty, and moist boneless pork roast of Italian culinary tradition. Where do I sign up? They basically take the pig, debone it, season/stuff it with things like garlic, fennel, rosemary, etc. and wrap it up in a thick skin of fat. This then gets oven baked. The fat liquifies and drains through the meat cooking it. The outside turns to crackling. Porchetta (the restaurant) serves it two ways. On a Sullivan Street Bakery roll and on a platter with greens and beans. It's as good as you'd imagine.
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food
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art