em500 (u/em500) - Readit News

em500 commented on The extraordinary rise in the wealth of older American households nber.org/papers/w34131... · Posted by u/wslh

eltondegeneres · 2 days ago

~"Minimum Wealth Cutoff for the 99th to 99.9th Wealth Percentiles" in that link reads to me as 1 in 1,000 households have a net worth over $13 million, not 1 in 100.~

edit: seems like I'm wrong

em500 · 2 days ago

No, that would be the the maximum cutoff, not the mimumum. That maximum, which is also the minimum cutoff to enter the 99.9 percentile (the 0.1%, or 1 in 1000) is almost 50 million dollars: https://fred.stlouisfed.org/series/WFRBLTP1311

More stats (including other decile cutoffs, mean and median with within the deciles) can be found here: https://fred.stlouisfed.org/categories/33001

em500 commented on The extraordinary rise in the wealth of older American households nber.org/papers/w34131... · Posted by u/wslh

eltondegeneres · 2 days ago

The survey defines the top one percent as "Net worth of $13,390,060 or more," which sounds greatly skewed versus what I assume is a lower median net worth at the 99th percentile. I don't think 1 in 100 Americans have over $13 million in assets.

em500 · 2 days ago

Not sure what "a lower median net worth at the 99th percentile" means (median is net worth level at the 50th percentile), but 1 in 100 American households (not individuals) indeed have over $13 million net worth: https://fred.stlouisfed.org/series/WFRBL99T999309

This threshold has about doubled since 2010, which should not be too surprising as house prices more than doubled and the S&P500 increased six fold in the last 15 years.

em500 commented on The SD Association has an official SD card format utility [Win/OS X/Linux] sdcard.org/downloads/sd-m... · Posted by u/Almondsetat

dcminter · 2 days ago

Related discussion from 2023: https://news.ycombinator.com/item?id=35610243

I didn't see that the first time around so this re-post was interesting, thanks! There's a bit of discussion in the other thread about the "protected area" - anyone got good links to the minutiae of that? How big is it, what tools exist to access it etc. ?

em500 · 2 days ago

The “protected area” was probably reserved for DRM keys for video distribution, an envisioned use case that never took off for SD cards, and hasn’t been relevant for at least a decade.

https://www.sdcard.org/developers/sd-standard-overview/conte...

em500 commented on Japan city drafts ordinance to cap smartphone use at 2 hours per day english.kyodonews.net/art... · Posted by u/Improvement

akk0 · 4 days ago

6% of a standard deviation sounds like very little to me, but it's hard for me to grok what that actually means.

em500 · 4 days ago

California GPA average is about 3.0 with 1.5 standard deviation. A 6.4% SD improvement would be a 0.1 point improvement in GPA. Certainly not an overwhelming result, compared to the subjective reactions how phones and screen are “obviously” destroying kids lives/attention spans/ability to hold a conversation, etc.

em500 commented on Did California's fast food minimum wage reduce employment? nber.org/papers/w34033... · Posted by u/lxm

frikskit · 18 days ago

Why not set very low maximum wage ceilings and have 100% employment? /s

em500 · 18 days ago

Why not set very high minimum wage floors and make 100% of worker rich? /s

Turns out economics is actually more difficult than "higher minimum wage is good/bad".

em500 commented on Food, housing, & health care costs are a source of major stress for many people apnorc.org/projects/food-... · Posted by u/speckx

conductr · 19 days ago

Wage stagnation is the root problem. When costs of all expenses go up over time but paychecks do not, it causes major stress.

em500 · 19 days ago

Paychecks did go up though, +50% nominal[1], +11% real (inflation adjusted)[2], over the past 10 years.

[1] https://fred.stlouisfed.org/series/LES1252881500Q [2] https://fred.stlouisfed.org/series/LES1252881600Q

em500 commented on Exit Tax: Leave Germany before your business gets big eidel.io/exit-tax-leave-g... · Posted by u/olieidel

GardenLetter27 · 19 days ago

Why are taxes so high though? Like in Sweden I'd pay literally 80% tax on extra sole trader income - 30% employer tax, 30% income tax, 20% high income tax.

But there is no Swedish moon base, or ultra high speed rail, etc. - where does it all go? We have higher taxes but less infrastructure investment than a century ago.

em500 · 19 days ago

How much detail do you need? High level expenditure breakdowns are here: https://www.government.se/government-of-sweden/ministry-of-f... and https://www.government.se/contentassets/5dc8d78159ee495fb5f3....

You can probably find more detailed breakdowns if you're really interested. But overall, most expenditures are probably in the categories healthcare, transfers to lower-incomes and education, like in most other European countries, and you probably won't find anything nefarious by looking into more detailed splits.

em500 commented on A.I. researchers are negotiating $250M pay packages nytimes.com/2025/07/31/te... · Posted by u/jrwan

tzury · 25 days ago

Do you need any more signs, or is it clear now?

For me the Meta storm of billions in hiring was enough to start selling any tech giant related stock.

It is about to crash, harder than ever.

em500 · 25 days ago

That’s similar to what people on HN said a few decades ago when Google bought Youtube and Facebook bought Instagram and Whatsapp for billions.

em500 commented on The Rising Cost of Child and Pet Day Care marginalrevolution.com/ma... · Posted by u/surprisetalk

joncrocks · a month ago

I think the theory is that they buy up a significant portion of the market, i.e. consolidate lots of independents. Then they raise prices in concert, and take advantage of reduced competition.

em500 · a month ago

Wouldn't that create a good opportunity for people to start new pet cares, and undercut the presumably overprized PE-consolidated chains? Pet care doesn't seem to be highly regulated or have other high barriers to entry AFAIK.

em500 commented on Brazil central bank to launch Pix installment feature in September reuters.com/technology/br... · Posted by u/CXSHNGCB

beng-nl · a month ago

There are maestro cards, bank cards that work very conveniently including with nfc, including with Apple Pay. Given that Apple Pay supports multiple kinds of cards.. my phone probably works almost anywhere..

em500 · a month ago

Maestro is owned by Mastercard (and are now being phased out for explicitly Mastercard branded cards). So like I said, cross border options are basically cash or Visa/Mastercard.

u/em500

KarmaCake day6225February 28, 2016View Original