A theory: they needed an existing PDF to test PDF rendering. The Bitcoin paper was (1) handy, and (2) has a diverse variety of content in it, including images and math symbols.
You need some amount of cash for payroll, POs, etc.
The rest is then generally held in "cash equivalents" such as short-dated government bonds. The latter has yield to offset inflation. But basically "cash" is being used quite loosely here.
From the 8-K:
> The Company has total cash and cash equivalents of approximately $1.9 billion as of March 10, 2023. Approximately $487 million is held at SVB, which represents approximately 26% of the Company’s cash and cash equivalents balance as of March 10, 2023.
> The rest is then generally held in "cash equivalents" such as short-dated government bonds.
Wouldn't these bonds belong to Roku but simply be bought/sold/held, for a fee, by SVB?
I mean: my bank in Europe can go belly up, my stocks are my stocks and they'll be transferred to my new bank. They cannot be used as part of a bank "bail in" procedure (well at least I think and I hope that's the case).
I'm not an expert in this area, but my understanding is that it doesn't really matter if it's cash, bonds or stocks – the bank is just a custodian of your assets and you always have the primary claim to those assets.
That said, the bank can still lend out your assets within certain regulatory guidelines, but in theory the regulation is in place so that they always have enough liquidity should you choose to withdraw it. Issues only really come into play when large numbers of consumers try to withdraw in rapid succession and a bank doesn't have adequate liquidity available. Ie, a "bank run".
Your point on stocks is interesting though because it's quite possible your bank actually does loan out your stocks to short sellers and makes some yields some profit in doing so. My understanding is that there are scenarios where you can actually loose your stocks in the event your broker goes bankrupt, although in such a case your government should insure you up to a certain amount (like with cash deposits).
But in a worst case scenario you can lose your stocks and banks can definitely lend the assets you hold with them.
But you typically run off firm promises of cash from investors. Then you only need a couple of weeks cash in the bank, and the investors promise to make cash available on demand as you need it.
In my experience with small SV companies over the last several decades, this would be exceptional. Typically you get money from investors at negotiated, spaced points in time. In between your CFO manages the cash on hand to cover everything: payroll, taxes, and any other accounts payable.
It was higher than I expected, but kinda makes sense. You're right that cash does lose value via inflation, but you need cash for when you need it. Looks like they sold a billion worth of stock in 2021 when times were good. I'd think they could invest in some bonds but long dated bonds dropped 20% in value last year so good job they didn't. https://finance.yahoo.com/quote/ROKU/balance-sheet?p=ROKU
Curious about this. Could you give me some idea of hourly and yearly* wages for cook, pedicab, junior software dev in your area please? I want to understand this phenomenon better. Thanks.
*The reason I mentioned hourly and yearly is that I'm wondering if a pedicab driver can put in 8 hour days like a cook or dev.
Here's a strange thing: there's some Asian-origin DNA in some of the indigenous people of Latin American. For some strange reason this is not discussed much.
It is discussed though, people write articles about it and very recently more evidence seems to support it. The sweet potato could also be supporting evidence for some contact.
I suppose the fact that "native americans" were also from Siberia/Asia makes it complicated to separate Polynesian/Asian DNA from "native american" DNA.
What's strange about that? It seems pretty likely(i'm not even saying it's true, just intuitive), that indigenous american and south america peoples are more closely related with east Asian folk than with indo European or African folk. Due to visual similarities as well as conceivable migration routes.
Every generation has said similar despairing things about the next, yet there always is a next generation to complain about. No, it's not different this time.
I don't know that this is true. Christendom has a longstanding eschatological tradition, but I'm not sure that it's been in any way universal. Cyclical views of long time are pretty common, for example.
Humanity hasn't always had nukes. I think Ukraine/Russia is somewhat likely to go worldwide, and it's going to be hard to stop a large nuclear exchange at that point. I'd be surprised if we have 5 years left.
Most of India is not Upper Caste. It is telling that the vast majority of India finally had functional sewage systems reach their village (99.9% coverage), electricity reach their village (99.9% coverage), cooking gas reach their village (100% coverage), and is now having clean water and fiber optic cable reach their village (currently ~75% coverage for each), only after the first non-Upper Caste person became Prime Minister (Modi).
For what it's worth, caste has fortunately ceased to have meaning in a tiny number of social and geographic circles.
But upper castes are in denial about how caste plays out in the rest of India.
They will claim it was something in the past. Wrong. Upper castes still often whisper about so and so being a *** (impolite way of referring to someone of a lower caste), or about such and such work (e.g. cleaning dishes) being the work of a *** and not a Brahmin like themselves.
Some now claim that caste was created by the British.
Wrong. Al Biruni (traveler from Persia) in 1020 wrote in Tarikh Al-Hind (History of India) about how when there was a communal meal in the village, a barrier needed to be put up between people of lower castes and people of upper castes.
A theory: they needed an existing PDF to test PDF rendering. The Bitcoin paper was (1) handy, and (2) has a diverse variety of content in it, including images and math symbols.