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whyhow commented on Ask HN: How do you sell services, instead of a product?    · Posted by u/domano
domano · 5 years ago
Thank you!

Some things do apply. I am not an ML expert myself, but just today i helped during the initial requirements call for a ML opportunity.

Question about 2.7.0: Currently we have an offer for a ML PoC for a very cheap price. Do you do initial work completely free of charge?

whyhow · 5 years ago
Hey I'm a data scientist with 5 years of experience building predictive models. I'm trying to start my own side-consulting company specializing in scoping machine learning projects and building PoCs and MVPs. I think I may be able to help you here. If you are interested in connecting, please look me up on Linkedin: https://www.linkedin.com/in/acauthon
whyhow commented on Ask HN: Talked about my fave cereals now I see ads for the exact cereals. How?    · Posted by u/mrsmee89
whyhow · 5 years ago
Last year around Christmas time I was talking to my wife about what candy I wanted in my stocking. I said something like, "I really like those gold ball candies. I can't remember their name. Maybe ranchero something?"

Then less than an hour later I had an ad on my phone for ferrero rocher candy. It was incredibly creepy.

I know supposedly the Google phone and Google home (in my case a model from Lenovo) doesn't parse your conversation for ads, but I have no other explanation.

whyhow commented on Ask HN: Why AI and Data Science projects have a high risk of failure?    · Posted by u/umermirzapk
whyhow · 5 years ago
I think there is a huge risk that the data being collected just isn't meaningful to the problem being asked.

For example, if you are trying to predict the weather you'd really like information on how big clouds are moving but all you have is wind speed and humidity.

Everyone acts like having fancier machine learning methods will solve their problem, but often the data just isn't good enough and getting better data is impossible.

whyhow commented on Do things that don't require scale   davnicwil.com/do-things-t... · Posted by u/davnicwil
nwsm · 5 years ago
You're thinking about scale in a different sense.

> You can do things that don't scale to accelerate a good idea, but by definition you actually can't do that if the idea itself requires scale. The idea has to work on day 1, for customer 1.

He's talking about ideas that only work if the company has scaled to some non-trivial size of users or some other relevant factor. Uber would be an example. How could Uber work if there was only 1 customer? There would be no drivers.

If you need to "do things that don't scale" to launch your idea, your idea probably also needs to work with low scale of users/revenue/investment or you will be dead in the water.

whyhow · 5 years ago
Wouldn't you call that a network effect? Uber is only effective if you build up a network of customers.

I thought scale meant you could run your service for 1 million users just as easily as you can run it for 1,000 users.

whyhow commented on Do things that don't require scale   davnicwil.com/do-things-t... · Posted by u/davnicwil
whyhow · 5 years ago
I feel like all (software-y) business ideas that don't require scale would fall under some form of "consulting". Does anyone disagree with this?
whyhow commented on Ask HN: Is it a smart move to give out discount for students?    · Posted by u/tuangeek
scott31 · 5 years ago
Tell the professor to teach about FOSS and to stay away from SaaS offerings. It is also ethically wrong to ask students to pay for a proprietary service as part of their university education
whyhow · 5 years ago
This is how you end up with students who are not prepared for the workforce because they haven't been trained on the tools that businesses actually use.

There is nothing ethically wrong with asking students to purchase proprietary services, but it is tone deaf to make them buy absurdly expensive software.

Deleted Comment

whyhow commented on Banks create money, but it's less impressive than it sounds   attejuvonen.fi/money-out-... · Posted by u/baobabKoodaa
AmericanChopper · 5 years ago
Because doing it one time, or 10 times, or 1,000 times doesn't change anything about how it works. If everybody pays all their debts, it all adds back up to $1,000,000 in cash (plus interest for the bank(s)).
whyhow · 5 years ago
No it doesn't. In my example the bank loaned out $850k to the first small business and $723k to the second. That's $1,573,000. The bank started with $1million.

It absolutely matters how many times the dollars come back to the bank because that is the pathway that lets the bank loan the same original dollar out multiple times.

whyhow commented on Banks create money, but it's less impressive than it sounds   attejuvonen.fi/money-out-... · Posted by u/baobabKoodaa
AmericanChopper · 5 years ago
The language used to describe fractional reserve is pretty misleading. Banks don't increase the total supply of money, all fraction reserve does is keep more of it in circulation. If a bank takes a $1,000,000 deposit one customer, and lends $850,000 of it to other customers, there isn't $1,850,000 worth of money all of a sudden. There is $850,000 worth of debt held by customers, and another customer with a $1,000,000 balance, which on the banks books will be represented by $150,000 or cash reserves and that $850,000 of debt.

The thing that seems to confuse people is the abstraction mechanism by which the $1,000,000 depositor doesn't see any of the $850,000 debt, and the by which they can withdraw the $1,000,000 without being involved in any debt transactions themselves. Fractional reserve banking doesn't create money out of thin air, it's just a system that allows for deposits to be put to productive use. The alternative is that deposits are entirely withdraw from the economy completely until the depositor wants to use them, which would be the economic equivalent of hoarding all your money under the mattress.

The rest of it also doesn't really "go to the bank", it's money that they must have on hand to service withdrawals, and absorb defaults and other losses.

whyhow · 5 years ago
So the depositor put $1,000,000 in the bank and the bank loans $850,000 to a small business so it can buy more inventory. The small business goes to the widget manufacturer and writes a check which the manufacturer deposits into the bank. So now the bank has 1,850,000 in deposits and 850,000 in loans.

The bank takes the new deposits and loans out 85% of it ($723k) to another small business. This small business goes and uses it to pay its employees and they all deposit the money in the bank. Now the bank has $2.573m in deposits.

The employees and the manufacturer can all withdraw the money at any time. So I struggle to see how this isn't creating money.

The fractional reserve system lets the bank loan the same dollar out multiple times. How isn't this creating dollars? If the bank takes one dollar and loans 85 cents to you and 73 cents to me, isn't there more money?

whyhow commented on Ask HN: Why is Tesla worth $420B?    · Posted by u/xoxoy
Serious_Cheese · 5 years ago
> Fed is spraying cash all over the country clubs and gated communities

Can you please elaborate on this? How exactly is this happening? Why specifically country clubs and gated communities?

whyhow · 5 years ago
He doesn't literally mean country clubs. He is saying that the fed's current policies allow rich corporations (controlled by rich people) to get loans at very low interest rates.

u/whyhow

KarmaCake day72October 17, 2019View Original