“Allowance” has tipped me off / provided a hint perhaps?
If I was younger and had less budget but (presumably) more time, I’d love to be learning about the harnesses and squeezing more out of the open models.
It’s probably generally true that our obligations increase as we get older and the constraints shift around. I’m really enjoying how the frontier models make me more productive, as I figure out how to use them, so have more wiggle room on cost but less time.
Anyway… being nostalgic but I suspect I learned a tonne when cost was the constraint, but was less “productive”.
Dictation tool which works better than the built-in Apple functionality, for my use cases.
Bc my version uses simple copy/paste rather than deeper OS integration, it works more reliably in the Claude Code terminal (has to do with active windows or cursors or something). And bc it uses local Whisper, I also find it transcribes technical words such as “git” more accurately.
Nothing technically challenging but practical for me.
They do track the index.
The leeway to deviate is not intended to make bets on individual equities, but to - for example - match index returns with fewer execution costs.
For example an index fund that tracks a global equity index may not find it practical to own shares in every listed company globally, but absolutely will be judged on its tracking error vs the benchmark index.
I think you’re spot on.
If you think they know what they are doing, then why are they selling shares now instead of issuing debt? They must either be maxed out on debt issuance or believe the cost of equity (future equity returns) are low.
I think this perspective benefits from experience, the ability to step outside one’s self, see that the world is complicated, then focus on the thing you enjoy.
As much as I agree with you now, I also accept that younger me wouldn’t have!
Man, I’d feel like a child if my boss gave me an “allowance”.
Wasn’t aware. Thank you.