Random stuff from the internet (not news)

[KnackChap]

This guy is amazing ?. Has his own YT channel now.

 

 

[dylanjosh]

Damn that video makes me so nostalgic for train travel  

 

I really enjoy them but haven't gone for more than a decade

[Right]

 

Wow, great DIY.

[Comrade_Dex]

:”)

Sent from my SM-G973F using Tapatalk

[chops10]

42 minutes ago, Comrade_Dex said:

:”)

 

So true :’)

People think I’m suicidal cos of the cuts on my arms 

[Right]

 

[silv3rgunn3r]

 

Man ...sad to see a country decline to such a terrible condition...yikes

[KnackChap]

 

im crying.....????????

[Bird Bird Bird]

https://news.ycombinator.com/item?id=26787654

 

Quote

d_silin 2 hours ago [–]

A lot of people who are just as smart and motived as Elon Musk or Steve Jobs will never be able to start their own companies and get rich.

Because they have family obligations that take priority.

Because they live outside high-income countries.

Because they have no access to support network, so when they fail, they fall all the way to bottom.

Because they may have made a crippling mistake in their pasts that now prevents them from reaching their full potential.

And so on and on. While I would still recommend everyone to pursue the dreams over never trying to do so - being poor is the single most powerful force that prevents people from doing that.

reply

ironman1478 2 hours ago [–]

This. Poverty doesn't just cause immediate issues it can also cause long term issues that can effect not only adults, but the children who grew up in that environment. This is largely because families in poverty tend to also abuse their kids at higher rates (this includes mental abuse) or at least foster an extremely unhealthy environment due to the stress it causes. So even a generation later it can be difficult for a family tree to be lifted out of that situation. It's brutal not having a support system in place for people. What sucks is that it's probably bad for overall productivity to not help people in these situations, but the usa has chosen to say screw it for many years (hopefully that is changing).

Imo forget being "rich", just growing up in a relatively sane environment is an advantage.

 

Excellent discussion. 

[Bird Bird Bird]

https://news.ycombinator.com/item?id=26786563

 

Quote

Adobe charges subscription cancellation fee. 

 

I swear this was true earlier too. I remember trying to cancel my sub, and was hit with a fee. CC wasn't helpful at all, so I just changed the credit card on file to one which was about to expire by the time renewal was supposed to happen. 

 

Adobe leads in anti consumer practices. 

[achilles]

20 hours ago, Bird Bird Bird said:

https://news.ycombinator.com/item?id=26787654

 

 

Excellent discussion. 

 

9 hours ago, Mr. Comingle said:

Yeah. It's not a surprise that the most successful people in the world came from already priveleged backgrounds. 

 

I really don't want to come across as trite and insensitive, but this kind of discussion helps no one. When you read about some of the remarkable things achieved by people with all of these issues mentioned, and more, this thought that there are valid reasons for not trying comes across as extremely shallow. 

A few examples, if you read about Cameroonian Francis Ngannou, the current UFC heavyweight champion and what he had to go through for his desire, ambition, and sheer will to be in a better place, or how APJ and co. developed India's rockets, or how Geeta Phogat became the world champion, the only thing that limits reach is ambition. 

None of these guys were extra-ordinary when they began. No one is. 

They chose not to stop. 

 

And when you distill it all down, it really is as simple as that. 

 

 

 

[Right]

1 hour ago, Mr. Comingle said:

You can't get access to world class education, contacts with powerful people, access to VC capital with sheer ambition. Ok. Maybe you could but it's incredibly hard to do if you're struggling to just put food on that table. 

The world is incredibly unfair to poor people. You can sweeten the truth with random examples any which way you want but how high you're gonna is fly is mostly decided when you're born. 

I'm not just talking about making the most successful software company in the world. Not everyone can do that or even has the ambition to do that. 

Getting decent education and living a decent life is good enough for a lot of people and people don't even get an honest shot at that. 

Somewhat true. But college-dropout Ritesh Agrawal walked to a VC wearing a dirty backpack and chappals and rest is  history. Dhirubhai worked at petrol pump in Yemen, later he not only owned that pump but created an empire.

 

Though the odds are heavily in favour of those who are well to do, bright hardworking people get a chance, world is unfair but there is a bigger power over us. 

 

My extended family has a few examples like this. One guy who left house at age of 18 with almost nothing in his pocket and a steel trunk which had couple of pairs of clothes became CEO of  one of the biggest MNCs. 

[dylanjosh]

For every 1 person who managed to overcome the conditions and succeed there are millions upon millions who couldn't. You can't make conclusions only looking at the exceptions. 

 

It's called "survivors bias"

 

https://en.wikipedia.org/wiki/Survivorship_bias

[Right]

 

[Bird Bird Bird]

Citibank exits consumer banking business in India. 

 

https://economictimes.indiatimes.com/industry/banking/finance/banking/citibank-to-exit-consumer-banking-busniess-in-india/articleshow/82086982.cms

[KunjanPSD]

2 hours ago, Bird Bird Bird said:

Citibank exits consumer banking business in India. 

 

https://economictimes.indiatimes.com/industry/banking/finance/banking/citibank-to-exit-consumer-banking-busniess-in-india/articleshow/82086982.cms

It's not just Citibank which is facing the brunt.

HDFC, ICICI have a death grip around the indian market with their cut-throat margins.

Especially HDFC, people don't know about the scale of their operations.

Although I am surprised that they are exiting wealth management as well but then again, GS and JPMC already dominate that market.

 

Banking is not so hot right now. Indian fintech industry will be led by umbrella entities and niche startups going forward. 

[Pacifier]

5 minutes ago, Mr. Comingle said:

Did Citi Bank ever do that well though? 

They have practically no branches in the country and that's the number one issue cited by most people I've met and they never really worked on fixing that. Besides, I don't think they offered anything extra over the other banks. 

My first bank account was with CITI ,12yrs back and they had just 1 branch even for a city like Hyderabad. 

The service though was very good and i felt their online banking for its time was very good.  Payee addition, Transfers , never had a problem and almost never had to visit the branch except for submitting ECS mandates

Still keep the account active, although not using much.  

 

(Fun  fact: their fixed deposit interest rate is 2.75 %for  1 year now). They really dont want your money

[KunjanPSD]

16 minutes ago, Mr. Comingle said:

Did Citi Bank ever do that well though? 

They have practically no branches in the country and that's the number one issue cited by most people I've met and they never really worked on fixing that. Besides, I don't think they offered anything extra over the other banks. 

Banking is a margins game as well. 

I don't think Citi ever found Indian business to be worth their time and hence never invested much skin into the game but they were for sure making some dough.

Their services are top-notch though, only if they had more branches, more people would have flocked to them.

[KunjanPSD]

2 minutes ago, Mr. Comingle said:

I'm using axis right now and perfectly happy with their service quality. Was using ICICI before and was happy with it as well. 

HDFC though is horrendous. Their online services feel like they've been pulled straight of early 2000s. That coupled with week long outages out of nowhere. That bank is a true testament to how little we care about quality. They give amazing offers and sh*t and we put up with their trash tier service for that. 

I actually have been with HDFC for years and even though I hear how backward their online system and reliability is, I have never found it to be the case.

I handle my mom's account with ICICI and literally it's a hit or miss. Half the time it just shows me an error while HDFC's NetBanking has always been simple and sound for me.

 

This isn't the case for everyone though and the recent setback in their CC business has HDFC overhauling their whole system. So things have to get better or else they will bleed money.

 

Indian banks atleast give (or used to give) decent interest on deposits otherwise it's just pennies for the foreign banks.

[abhi90]

3 minutes ago, KunjanPSD said:

I actually have been with HDFC for years and even though I hear how backward their online system and reliability is, I have never found it to be the case.

I handle my mom's account with ICICI and literally it's a hit or miss. Half the time it just shows me an error while HDFC's NetBanking has always been simple and sound for me.

 

This isn't the case for everyone though and the recent setback in their CC business has HDFC overhauling their whole system. So things have to get better or else they will bleed money.

 

Indian banks atleast give (or used to give) decent interest on deposits otherwise it's just pennies for the foreign banks.

Definitely. Moreover ICICI also has had unannounced delays, just a month ago I had to make a critical payment but I couldn't because the OTP service for neft/imps was down from 11am to 6pm during a weekday. No annoucement nothing yet their twitter was filled with the exact same complaint. It's a hit or miss with most banks.

 

P.S: Citibank mein paisa safe hai ya bikaalo saara