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Joined 3 years ago
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Cake day: January 10th, 2024

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  • I don’t remember for certain and I’m not taking the time to look it up, but I think there are some legal restrictions as well? I’m guessing that is included in your Impetus paragraphs, since it would require congressional direction to change things.

    The Treasury or whoever has actually redesigned the bills quite a bit in my lifetime and they’re more colorful than they used to be, but I think they’ve done what they can while sticking within legal parameters. Given how much some people refer to other nations’ currencies as “Monopoly Money” despite some obvious benefits I’m not holding my breath for significant changes for a while yet.

    I’m glad we’re finally getting rid of the penny at least. I used to be a proponent of the $1 coin, but having spent some time in Canada and Europe I actually find $/€/£ coins annoying and heavy in actual practice.










  • I don’t think there’s any legislated law that states that, but some courts treat it as a basic principle (especially in the state of Delaware). What I’ve usually seen as an early example of this is Dodge v. Ford Motor Co. from 1919. Henry Ford had amassed a surplus of more than $60 million (equally to more than $1.1 billion today) and wanted to reinvest that money in expanding the business with new factories while continuing to raise wages and cut prices on the Model T. As part of this he wanted to cease special shareholder dividends he had been playing out of the surplus. Brothers John Francis Dodge and Horace Elgin Dodge owned 10% of Ford and sued to keep the dividend payments coming.

    The court ruled that Ford had to pay out a dividend of more than $19 million (more than $360 million today) to the minority shareholders. In the ruling, in a non-binding section, the judge wrote:

    A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of men to attain that end and does not extend to a change in the end itself, to the reduction of profits or to the nondistribution of profits among stockholders in order to devote them to other purposes.

    Ford was accused of trying to turn the business into a charity. Behind the scenes, though, one of his main motivations for not wanting to pay the dividend was suspicion that the Dodge brothers were using the dividends from his successful business to setup a rival car company to compete against him, which was exactly what they were doing.

    It seems the interpretation of the ruling is controversial, even as to whether “maximize shareholder value” is actually enforceable or what the judge meant. I continue to think that the more investors a company has, the less the company will be able to focus on what’s best for the company, customers, and employees in the long run.







  • I think the smaller character limit comes in from Asian countries if they don’t use the basic Latin characters that came out of ASCII. But yes, there’s no reason for the service provider not to offer unlimited SMS messages other than greed/lack of competition. I remember over 20 years ago reading a high level phone company employee talking about how the SMS plans were basically printing money for the phone companies because it cost them almost nothing in terms of bandwidth, utilizing an otherwise unused part of the connection protocol. Back then most companies charged for the messages as in @OP’s question, and the plans were relatively expensive. Nowadays most plans I see in the US and Europe offer unlimited talk and text, or limits that are so high they would be hard to reach. I think it’s a combination of competition and smart phones offering SMS alternatives that offer more functionality while using a tiny fraction of your data allowance, or none if you’re on WiFi.



  • Five years is too long for the buyers. The AI bubble will burst before then and then the market price will drop as the inflated demand disappears, especially if this continues long enough for more production capacity to come online.

    They might not have had much of a choice in making the deal, though. Micron has been extracting the absolute maximum they can out of this situation. Make a deal or get nothing. Their clients will remember, though, and flag them as an unreliable supplier. Once this ends—and these always end—they’ll likely have a lower market share and end up having to cut prices.

    Micron is optimistic in saying the demand won’t start easing until 2028. A lot of the rest of the technology manufacturing industry is about to grind to a crawl if not a halt because it’s nearly impossible to get components. Some companies are already delaying product launches and I think a lot more are about to this summer as they realize what’s happening. If non-AI businesses start to slow, the whole economy starts to slow, the AI demand will falter and that’s when the bubble bursts. I’m thinking maybe by the end of this year, more likely next year.

    When the bubble bursts I’m guessing at least a couple of the companies Micron signed SCAs with will fold and Micron won’t get anything.



  • I never had one. My parents rented one from Blockbuster once when they saw you could play Cruisin’ World on it. I went to watch a movie with mom and afterwards we went to Target and as we passed the electronics section she looked at the prices and said maybe we could get one later. We got home to find that my younger brother and sister had fought each other until they were bleeding, over whose turn it was to play (Cruising World was a single player game, I think, or the rental only came with one controller). That ended all hope of a video game system for years.

    I’ve thought off and on over the years about getting a used one, or one of those Analogue 3D systems. There were so many fun games to play with friends on there.