Inderesin kahvihuone (Osa 10)

Sometimes when there are holidays or, for some other reason, much more free time than usual, people might be hit by a terrible sense of boredom. To tackle this boredom, there are quite a lot of extremely interesting Super Mario 64-themed videos on YouTube, such as how different levels are completed using the jump button as little as possible, which over the years has evolved into a relatively complex field of study, involving different dimensions and so forth.

For instance, Bismuth has, among other videos, ‘The Complete History of the A Button Challenge’ video packed into a suitably compact package, which, while lasting over 5 hours, is hard to stop watching once you’ve started:

If you want some shorter videos to start with, one of the legends of the field – Pannenkoek2012 – offers them in quite large numbers, and the SM64 - Watch for Rolling Rocks - 0.5x A Presses (Commentated) \[OUTDATED\] video could be considered a good foundational work for the discipline, but he also has 4-hour deep dives into the game’s invisible walls and such.

Merry Christmas to everyone, whether these videos happen to interest you or not.

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Merry Christmas to everyone from me as well! The Christmas carol is performed by the vocal ensemble King’s Singers. :christmas_tree: :musical_note:

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Merry Christmas to everyone, and a sing-along on three for the hero of the day.

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Merry Christmas and an even better New Year to everyone!

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That was such a great comment that I have to post a bonus round. Apologies if I’ve already posted some of these before – my meme library is a mess :expressionless_face:

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A few more videos, 1) my own more religious Christmas celebration

https://x.com/drunkdoingshits/status/2003411477341028646?s=46&t=Gf87bhKtIDEQ8PoQTL96bQ

  1. a friend’s Christmas outfit

https://x.com/volcaholic1/status/2003482231969591409?s=46&t=Gf87bhKtIDEQ8PoQTL96bQ

Let Christmas continue!

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Brian has an interesting tweet about stock holding periods :slight_smile:

https://x.com/BrianFeroldi/status/2003964538975080491
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This is largely explained by the frequently suggested idea of investor short-termism, but it is worth noting that it is also driven by companies’ advanced capabilities to scale their operations through new business models, access to financing, and subcontractor networks, as well as the (assumed) increased efficiency of price discovery, lower trading costs, a larger number of retail investors, the explosion in the number of listed companies, and the ease of trading.

In the 50s, factories were built on-site from red bricks, it took a decade to bring a new factory into operation, and they had to be built separately on every continent. Financing was primarily provided by operating cash flow. There wasn’t much room for disruption to happen in a quarter or a year that would cause a stock’s expected return to fluctuate as rapidly as it does today.

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Here is an article about Renny Harlin’s movies, where all the films are listed with a short summary. I wasn’t familiar with all of the movies beforehand, which is why the article was quite interesting. :slight_smile:

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This really shakes me to the core, one of the greats of my whole youth. Popeda and Pate, we always went to a gig whenever there was a chance, we’d have some drinks and have a great time. The 80s were the golden era for Popeda gigs here in Ostrobothnia, a big hand and goodbye, this makes me sad.

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An invention has been discovered that would surely find its way into every Finnish household. This would make even the most die-hard vaccine skeptic reconsider. Waiting for commercialization. :folded_hands:

A beer-based vaccine has been developed in the United States — virologist Chris Buck brewed beer capable of protecting against diseases

He managed to integrate virus-like particles into yeast, helping the body fight infections.

He and his family tasted the “foamy shot,” and the results were striking: after drinking five liters of the beer, their bodies really did produce antibodies that could help fight illness.

Now he’s considering how to make beer-vaccines for other diseases as well.

https://x.com/nexta_tv/status/2004315215005909100?s=20

Would it also help with the seasonal flu?

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Thank you Wolt!

Only now does Juurikki understand that the desire to help the less fortunate by offering them even odd jobs can become this wonderfully expensive. :santa_claus:

IS: “In 2024, Wolt Finland’s revenue was 139.9 million euros, but the operating result sank to a loss of 640.8 million euros. The loss for the financial year was 625.3 million euros.”

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From the tweet below regarding the VIX, one could perhaps think that the markets are now exceptionally calm and confident. But is there already too much confidence in the air? :cowboy_hat_face:

https://x.com/KoyfinCharts/status/2004492194791719249
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Rest in peace, Pate/Pauli.

Back in our youth, we had a tradition of belting out “Tapparan mies” informally at Midsummer parties during karaoke.

One time, the host of the party happened to have a night shift at a hotel in Oulu on Midsummer, so a couple of friends and I decided to keep the tradition alive.

Around last call, we headed to the hotel lobby to cheer him up and rock out to “Mää ja Tapparan mies” with air guitars. As the volume of the chorus went up, Pate Mustajärvi himself stepped out of the hotel elevator.

We finished the chorus with total dedication; Pate gave us a quick compliment along with some brief applause. We went our separate ways toward our next adventures in high spirits.

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Here are Markus’s highlights from this year :slight_smile:

https://x.com/ValueByMarkus/status/2004518636590121247
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In Wolt’s case, the absolute figures are completely insane. A couple of years’ worth of losses correspond to the costs of the first phase of the West Railway (one-hour train). In a couple of years, an amount of money has been burned on food deliveries that the state and municipalities don’t seem to be able to afford.

Now that there has been over a billion in losses in two years, it feels like the scale of the matter isn’t quite understood. Where are the other Finnish companies that make hundreds of millions in losses year after year? It’s absurd business, but I guess this is that “platform economy” or some other new economy that I don’t understand. :smiley:

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Is there some trick here where money flows out of the country to the parent company (DoorDash), resulting in losses here in Finland (high corporate taxation) while profits are generated in some other country with a lower tax rate? Or is this just one of those modern firms where investor money is burned to grow the user base and the pool of couriers?

Furthermore, it remains unclear how this can ever make money. Most users are extremely price-sensitive. If a 15-euro meal gets a five-euro delivery fee on top, we’re already at the limit of whether people are willing to pay. And I don’t really understand how that five euros covers the costs, let alone generates a profit. There isn’t even a glimmer of hope that it could be, say, doubled; nobody is going to pay a tenner for hauling 15 euros worth of food.

I’ve “abused” this a bit myself through Wolt+ when the weather has been such that you don’t feel like sticking your nose out, and this makes the whole thing even weirder mathematically. 8 euros a month makes deliveries free, assuming the place you want is in the program and close enough. 8 euros covers the delivery costs of at most two orders. I understand the logic behind monthly subscription systems – you hope a huge number of people subscribe and then forget the subscription is running even if they don’t use the service, but if you actually use the service – say, order 2-3 times a week – you get 8-12 deliveries a month, leaving the firm with less than a euro per delivery. Yeah, Wolt also takes a cut of the meal price itself from the restaurant, but there isn’t much to be taken from there either if we’re talking about a 15-20 euro meal.

Maybe this is all some kind of new mathematics.

I understand the system working much better when Wolt carries purchases from, for example, Verkkokauppa.com. In these cases, the delivery fee is a tenner, which likely already offers a bit of profit per delivery, especially if Wolt also gets some commission from Verkkokauppa for the purchase itself; and when you order a gadget worth several hundred euros, a tenner is completely irrelevant and often cheaper than equivalent shipping. However, the delivery distance in these cases is often longer, which probably eats into the margin since couriers, as I understand it, are paid based on the distance.

Well, the show goes on for now. If the shop is bust in a few years, then we’ll know the math didn’t work and the investors’ money ran out. If the journey continues, then we just didn’t know how to calculate how this business works :smiley:

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Wolt’s parent company DoorDash turned a profit for the first time last year (full-year net profit of $123 million).

So the chart doesn’t include this year yet, but a total profit of $722 million has been generated in Q1-Q3. Revenue is expected to grow by approx. 25% this year.

Edit: To my understanding, that revenue for Wolt Enterprises Oy does not include Wolt’s entire international revenue, which is included within those DoorDash numbers. Wolt has group management, global support functions, etc. in Finland, meaning a lot of expenses, but most of the revenue comes from other countries.

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The distribution of tax liability between the parent company and subsidiaries located in different countries is always interesting. I believe a certain American apple company managed to avoid paying taxes entirely for a few years by exploiting the tax laws of different countries to create a double-irish-dutch-sandwich.

An ordinary Juurikki just doesn’t understand how this system could work globally under current Finnish legislation. Or was it just about showing a profit somewhere to ensure continued funding, or something?

The Double Irish Dutch Sandwich: End of a Tax Evasion Strategy - Conversable Economist The Double Irish Dutch Sandwich: End of a Tax Evasion Strategy - Conversable Economist

“I’m sure the international tax lawyers around the world are strategizing new tax evasion strategies even as I write these words.”

Edit: link updated, sandwitch → sandwich

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The tweet states that year-end profit-taking is clearly visible, meaning money is flowing out of stocks—especially certain individual stocks.

Institutional and retail investors in particular are selling, while hedge funds are cautiously returning to the buy side.

https://x.com/KobeissiLetter/status/2004607767815110783
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