1,839 karma · joined March 17, 2009
Mobile apps, computer vision, machine learning and Haskell. Our business combines all of these. I also have long experience in financial markets so I like to rant about the real meaning of financial transparency.
True, the competitors argument is the first thing people would cite against continuous meaningful disclosure. The counterargments are 1) Not as important if everyone is disclosing on a level playing field. 2) More information supports better functioning markets==better decisions by the private sector. This is a huge benfit IMO. 3) Often a red herring for hiding weak management, not competitive information. 4) Truly sensitive information can be scrubbed or aggregated. There, a real job for a regulator besides napping.
Bonus point. The startups built around disclosure and analytics could be more interesting than the capital raising jam job companies that are going to be spawned.
Instead of doubling down on opacity, Congress should take a leaf from the non-profit industry. There, at least everybody's tax return (Form 990) is available for public inspection. Some of them are very illuminating. Even just that would be a better start than this.
The idea that continuous disclosure has to be burdensome is a relic from the past. You want to raise money from my mom? Let me monitor your Quickbooks online account.
If Blog X wants to take cash and freebies and then let me know about it in a nicely formatted web page, that's fine. I can keep reading and make a case by case judgement of their opinions. If not they are playing the game of monetizing their reputation and will one day be asking their hidden patrons for a job, or finding a new industry. Note the key driver in all this: transparency.
There is no real news about BB's business model in this announcement. A more interesting question is what remaining verticals are relatively untouched by transparency and fact-based marketing?
In my case (joe average haskell dev) that means I can just stick to normal constructs and switch out the underlying data structure to get the speed benefit. This article actually might lead to such a change in a computer vision package I work on.
You can expect to see this pattern over and over with Haskell, so that by the time you get to data structures that abstract away GPU-based calculations, nobody will be wishing people would just write the darn code in C.
For most of these little companies no advantage is lost by reporting cash flow, transactions and other relevant metrics. All easy to calculate. The new services around these little companies should be accounting support. Instead all we are going to get is "social proof" followed by an info blackout.
Or to quote John von Neumann, "In mathematics you don't understand things, you just get used to them."
I think these black and white statements are not a good way to explain things. Just start with the set of real numbers. Point out infinity is outside the set. Then introduce the extended reals (R + infinity), with special rules for arithmetic involving +/-infinity. This theoretical convenience extends to the computer when the rules for Inf are implemented correctly. Follow the rules and you might sensibly get an Inf result, break them and you should get a NaN. It's all implemented in IEEE 754. In fact Inf is in your computer but not all the reals are. So there.
Letting the stores control the decisions about how that connection gets made is not in the entrepreneur's best interest. Making that connection efficient by using your great idea is not in their best interest. That's disruption for you.
The winners will figure out how to separate the logistics of local availability from mobile/local marketing.
Oh yeah, managers also believe that changing the counter top from marble to granite in the middle of the project should be free, because, hey, it's software.
Confronting a difficult problem we might fruitfully ask, "What would a microbe do?"