09/13/20

Killing The Gig Economy

A lot of trends, suspect ideas, cultural quirks, and bad laws start in California and spread across the country.

Case in point is California Assembly Bill 5 which destroys the gig economy by imposing standards on the employer-employee relationship that prevent the gig economy from functioning in a manner as it currently does.

Lyft and Uber have both threatened to pull out of California if the law is not repealed in November.

Joe Biden supports California Assembly Bill 5 which effectively kills the gig economy and wants to pass a Federal law mirroring it. If you are a gig worker, take note.

Cal AB 5 came to life in December 2018 in response to controversy created by the employment of Lyft and Uber drivers, classic gig economy workers. These contract, independent contractor, 1099, gig workers are eliminated under the law that was passed in September 2019 and took effect in January 2020.

Continue reading →

09/12/20

Peace In The Middle East?

English Prime Minister Neville Chamberlain came home from a meeting with Hitler in Munich in September 1938 with the triumphant notion that he brought with him “peace for our times” in the form of some nonsensical agreement with a treacherous tyrant, Adolf Hitler.

Very few men were able to realize that you cannot make peace with a wolf by feeding it. When it is hungry, it will come again to the world’s door and that is exactly what happened.

Lord Hugh Cecil, an English contemporary politician would describe it like “scratching a crocodile’s head in the hope of making it purr.”

Chamberlain had a piece of paper, a set of words — nothing of substance.

Continue reading →

09/9/20

President Trump v The Generals — WHY?

Comes now the Generals complaining of President Trump, their Commander-in-Chief. Their complaints stem from some basic realities:

 1. When President Obama had the reins and was promoting socially-woke, petri-dish, social-engineering Generals focused on getting women through Ranger School (whose records all disappeared) and transgender battalions, he and they opined that it would take a decade to “attrit” the bums known as ISIS even though they were the Junior Varsity.

Then this draft-dodging, bone-spurious, military-high-school-grad President Trump changed the rules of engagement (ROE), sent some Marine artillery units to Iraq, demanded that bombers sortie forth with primary, secondary, and tertiary targets — do not return with bombs — and, voila, in less than two years ISIS was no longer a viable force.

Donald Trump's high-school classmates share memories - Business Insider

Continue reading →

09/9/20

Killing 2020

We have three and a half months left in 2020, but I am already looking forward to New Years Eve to put this miserable year in its coffin — nail it shut, push it into a fire, watch it burn — ensuring it doesn’t escape the cleansing flames — rake up the ashes, bury them in unhallowed ground, and piss on its grave.

I am reminded of Dickens:

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.

Continue reading →

08/31/20

The Murky Science Of Stock Splits

Today, two things happened:

 1. Apple split its stock in a 4:1 ratio.

You owned a single share of Apple yesterday at $500. Today, you own 4 shares at an initial value of $125.

 2. Tesla split its stock in a 5:1 split.

Yesterday, you owned a single share of Tesla valued at $2,200 and today, you will own 5 shares valued at $440/each.

Continue reading →

08/27/20

CEO Shoptalk — Taking Charge

I am sure I have written about this before, but I had chats with a number of CEO type persons over the last month such that I feel I must say it again.

In life, you do not get power, you take power. It is not a difficult concept. CEOs must take charge.

May I tell you a personal story? [I like asking things like that because it makes me seem reasonable, which I assure you I am, but I really don’t care if you give me permission. Here comes the story.]

Once Upon A Time In A Far Away Country

I was anointed by our military to conduct affairs of some considerable importance in a far away land.

Continue reading →

08/26/20

The Imperfect Storm

America finds itself in the hold of several substantial challenges — the Imperfect Storm.

Chief amongst them are the following:

 1. The Pandemic

 2. The economic impact of the Pandemic

 3. The civil unrest in our cities

 4. The #DefundPolice v Black Lives Matter confrontation

 5. Government response to diminished tax revenues

 6. The Election

I call this witch’s brew of challenges the Imperfect Storm. It will test us, but we will pass the test. There may be extra innings.

Continue reading →

08/26/20

New York City Recovery

It is fashionable to debate the fate of New York City these days with the left edge of the argument being it is doomed and the right edge the constant refrain that New Yawkers have GRIT.

New York Post writer James Altucher opines that “New York City is dead forever” whilst comedian Jerry Seinfeld (from his Hamptons mansion) counters that New Yawkers have grit.

New York City is dead forever — link

This falls under the heading of: “Two Things Can Be True At The Same Time.”

Guy calls me to discuss apartments and asks what happens when markets begin to drift. I had a good long run owning thousands of apartments and was taught some harsh lessons and some good ones by Mother Market.

Continue reading →