Alexis Rondeau

Bookmarks

5632 bookmarks · page 99 of 226

Bookmarked from Ole Lehmann @itsolelehmann

EU entrepreneurs are tired.

I analyzed the 190 responses to my post about the major problems European entrepreneurs suffer.

Here are the results of what frustrates them the most (I let Claude rank them)

The clear winner in terms of frustration is bureaucracy and paperwork (9/10).

People are fed up with all the forms, physical visits, and ridiculous notary requirements.

It came up again and again in different contexts.

Tax system and GDPR tie for second place (both 7/10).

The VAT system gives everyone headaches, especially when operating across borders (ask me about it!).

GDPR is interesting because while people generally support data protection, they feel the implementation crushes smaller businesses.

It's especially bad for small new businesses that can get crushed by the fines (there are law partner firms specialized only in finding and fining them, disgusting).

Labor laws and what people called an "anti-innovation culture" were next (both 6/10).

Tbh, this is close to my heart and impacts me daily.

The employment regulations seem to be a real pain point - lots of stories about not being able to fire underperforming employees and being afraid to hire because of the risks.

Market fragmentation and cross-border complexity (both 5/10) are interesting because they highlight a paradox:

The EU is supposed to be a single market, but entrepreneurs are still dealing with 27 different systems.

AI Act and tech regulations came up less frequently (4/10) but when they did, people felt strongly about them.

Some fascinating patterns emerged:

There's this striking cultural contrast people kept drawing between the US and EU approaches.

The US "let's do it" vs EU "let's regulate it" mentality came up several times.

The size issue is really interesting - lots of people pointed out how regulations that might be manageable for big companies are crushing for startups. One person mentioned spending up to 50% of their income just on compliance.

What really stood out to me:

Beyond specific complaints about regulations, there seems to be this deeper frustration about what some see as a fundamental hostility to entrepreneurship in the EU culture.

This all paints a picture of a challenge that goes beyond just regulatory burden - it seems to be about the whole culture around entrepreneurship in the EU.

Let me know if you find posts like this interesting.

I just analyzed it for myself and thought, why not share it.

Bookmarked from Rui Ma @ruima

One of the hottest trends in Chinese consumer internet this year …

Revenue from short video dramas 短剧 — serialized stories of 1-2 minute episodes typically totaling 60-120 minutes, designed for vertical viewing on phones—has surpassed movie box office.

Operators compare them to “mini games” rather than traditional long-form media.

Creators attribute their addictiveness to the fact that they cram “2-3 movies’ worth of drama into one series” and the “3-7-21 rule,” where every 21 seconds must evoke a new emotion to maintain engagement. I forgot what the 3 & 7 stand for though 😂

Saved on Hacker News · submitted by jjmaxwell4

Hi HN, we’re JJ and Mark, the founders of Double (https://double.finance). Double lets you invest in 50+ broad stock market indexes with 0% expense ratios. We handle all the management, including rebalancing and tax-loss harvesting—proactively selling losing stocks to potentially save on taxes—for $1/month.

Our goal is to bring the low fee trend pioneered by Robinhood to ETFs and mutual funds. We posted a Show HN about 3 months ago (https://news.ycombinator.com/item?id=41246686) and since then have crossed $10M in AUM (Assets Under Management) [1].

Here’s a demo video: https://www.loom.com/share/10c9150ce4114f278e8c249f211e7ec8. Please note that none of this content should be treated as financial advice.

Everyone knows that fees eat into your investing returns. Financial advisors generally charge 1% of AUM per year, and ETFs have a weighted average expense ratio of about 0.17%, although some go as low as 0.03% for VOO. Over a 30-year period on a $500k portfolio with $2k invested monthly, the money lost to those fees would be $1.30M for the financial advisor and $244k for the average ETF and even $42,951 for the low fee VOO.

Double lets you index invest without paying any percentage-based fees - we charge just $1/month. It works by buying the individual stocks that make up popular indexes. By buying the individual positions, we can also customize and tax-loss harvest your account, something ETFs or Mutual Funds cannot do.

Most ETFs and mutual funds today are not that complicated - they can be expressed as a CSV file with 2 columns - a ticker and a share number. You can find these holding csv files on most ETF pages (VOO[2], QQQ[3]). Right now there are about $9.1T of assets in ETFs[4] and $20T in Mutual Funds[5] in the US, with estimated revenue of $100B per year. We think this market is ripe for disruption.

We offer 50+ strategies that track popular ETFs and are updated as stocks merge and indexes change. You can customize these by weighting sectors or stocks differently, or even build your own indexes from scratch using our stock/etf screening tools. Once you've chosen your strategy, simply set your target weights and deposit funds (we also support transferring existing stocks). Our engine then checks your portfolio daily for potential trades, optimizes for tax-loss harvesting, portfolio tracking, and redeploys any generated cash.

I (JJ) started working on this after selling my last company. After using nearly every brokerage product out there and working with a financial advisor, I noticed a huge gap between the indexing capabilities of financial advisors and what individual investors could access. We wanted to bridge that gap and provide these powerful tools to everyone in a simple, low-cost way.

There are a number of robo-advisor products out there, but none that we know of offer direct indexing without expense ratios or AUM fees. One similar product is M1 Finance, but Double is more powerful. We offer tax-loss harvesting, a wider range of indexes, and greater customization. For example, when building your own index, you can set weights down to 0.1% (compared to M1's 1%) and even weight by market cap.

We also compete with robo-advisors like Wealthfront, but offer more control over your investments. And did I mention we don't charge AUM fees? You can see our strategies and play with the research page https://double.finance/p/explore without creating an account.

Over the past year we’ve learned a lot about the guts of building portfolio software. For example, stocks don’t really have persistent identifiers that are easy to model and pass around. We trade CUSIPs with our custodian Apex*, but these change all the time for stock splits or re-org’s that you would not think would lead to a new “stock”.

We’ve also learned a lot about how tax loss harvesting (TLH) is best implemented on large direct index portfolios using a factor model as opposed to pairs based replacements which I initially thought might be the way to execute these. We do use a pairs strategy on smaller sized strategies. And how TLH and portfolio optimization generally is best expressed as a linear optimization problem with competing objectives (tracking vs. tax alpha vs. trading costs for example).

If you have any thoughts on the product or our positioning as the low fee alternative I’d love to hear it. I think Robinhood has proved that you can build a strong business by getting rid of an industry wide cost (in their case commissions, in our expense ratios). We aim to do the same.

[1] https://www.axios.com/pro/fintech-deals/2024/12/10/direct-in... [2] https://investor.vanguard.com/investment-products/etfs/profi... [3] https://www.invesco.com/qqq-etf/en/about.html [4] https://fred.stlouisfed.org/series/BOGZ1LM564090005Q [5] https://fred.stlouisfed.org/series/BOGZ1LM654090000Q

* Edit to add a note on risk: If Double goes out of business, your assets are safe and held in your name at Apex Clearing. They have processes in place for these scenarios to help you access and transfer those assets. See more at https://news.ycombinator.com/item?id=42379135 below.

Bookmarked from Dmitrii Kovanikov @ChShersh

I need only one simple example to convince you that OOP patterns are scams, and Category Theory patterns are superior.

In the OOP world, when you tell me something is a 'Visitor', you tell me nothing.

So are you telling me that this code traverses some values and maybe even recursively calls itself? Well, f*cking thanks, Sherlock, you just literally described 90% of every OCaml project.

Your words said nothing of value and wasted my time.

However, when you tell me that something is 'Applicative', I immediately know:

1. THE EXACT NAMES OF FUNCTIONS TO USE. Yes, the abstraction is THAT precise. It's and+/pure in OCaml, and the Star Wars TIE Interceptor ship operator/pure in Haskell.

2. THE EXACT TYPES OF EVERY FUNCTION.

3. How to create values of that thing: use 'pure'.

4. How to compose values of that thing: use 'and+'.

5. The parallelism semantics attached to the composition.

6. What extra rules and laws those functions follow.

7. An entire library of 100 REUSABLE FUNCTIONS I can immediately benefit from with my value.

8. What other abstractions are implied: every Applicative is Functor, so by definition, I know what else I can use with my value.

You said just one word — Applicative — and it singlehandedly absolutely f*cking destroyed entropy. I immediately know everything I need to know.

A single word says more than an entire useless book.

Bookmarked from Γ(z) @gammaofzeta

I’ll be tutoring a young adult who wants to become a mathematician. To introduce him, I’ll start with the fundamentals of higher mathematics: sets, counting, logic, proofs, some basics on number theory and discrete math.
This is my selection of books. Any recommendations?


Bookmarked from Lindy Drope @Lindyydrope

built an AI phone agent that turns support into 24/7 sales - this is wild

this Lindy agent was built in less than 10 minutes and can:

  • answer phone calls
  • tap into a massive knowledge base
  • create tickets in Linear, send Slack messages, update Notion, etc
  • follow up with the caller via email

we're building AI employees that can run entire companies autonomously

voice is just the beginning :)

Bookmarked from Andrew Ruiz @then_there_was

I’m curious how this would contrast with the way Peter Thiel would describe Mark Zuckerberg.

I’m probably wrong here, but I would have thought Peter would describe Mark as very ambitious with a precise vision of the future. Mark did reject acquisitions early on after all.

Someone with that much conviction seems like they’d have a clear vision in mind.

Not to say you shouldn’t start small or without flexibility. Those seem to be important prerequisites. And most people aren’t Mark Zuckerberg or Bill Gates. So perhaps they’re exceptions to the rule.

But sometimes I wonder if empirically the reason most startups fail is because they’re not maniacally ambitious enough. That seems unlikely. So perhaps Paul is speaking from the perspective of someone who has seen ambition lead many founders astray due to their stubbornness and grandiosity.

Bookmarked from Scrapybara @scrapybara

“In the near future, LLMs, with the full ability to use and control computers, will reshape everything. How developers write software, how CEOs run their companies, and even how we all live our daily lives.”

The future is now. Deploy Computer Use in production with Scrapybara.