Mistakes Were Made
> Take the time to learn about ERP software, and it’s easy to realize small errors compound quickly. It might seem like we’re going to be dunking on SAP here, but as we previously noted during our recent dive into updates to NFL quarterback statistics, when you’re really, really good at something difficult, you’re allowed more errors than others. By any measure, SAP is a titan of logistics and widespread enough as to be vital to the world economy. So when they fail, they fail in ways that have some spectacular consequences.
> Case in point: the Halloween without various Hershey’s candies.
> However, when the SAP Hana system they were “upgrading” to took three years to get to operational use, Lidl dumped the project … after spending well more than half a billion dollars. The move was reported not through a lawsuit but a simple memo that explained “the strategic goals as originally defined by the project could not be achieved without the retailer having to spend more than it wanted.”
Oh well, we tried, thanks for the money!
I broke Giant’s handheld scanner system by only buying two things
> The employee interface verified that my cart contained two (2) items. She scanned both. It verified that those two items were ones I had scanned. And then it told her that she needed to scan five more items to complete the audit, because the audit requires seven items to be scanned.
Work Is Work
> Every time I’ve written or spoken about organizational design, I’ve regretted it. There’s something about staking out a position on it which manages to prove me wrong a few years later. But I’ve been having some long thinks about it again, and here’s what I’ve got. Strap the fuck in.
How Crisco Made Americans Believers in Industrial Food
> Crisco’s main ingredient, cottonseed oil, had a bad rap. So marketers decided to focus on the ‘purity’ of factory food processing
Hackers hit Norsk Hydro with ransomware
> The breach last March would ultimately affect all 35,000 Norsk Hydro employees across 40 countries, locking the files on thousands of servers and PCs. The financial impact would eventually approach $71 million.
> All of that damage had been set in motion three months earlier when one employee unknowingly opened an infected email from a trusted customer. That allowed hackers to invade the IT infrastructure and covertly plant their virus.
This is kinda fluffy, but somewhat interesting.
A Decade of ‘Unicorns’ Ends With a Little Less Magic
> Despite their growing numbers and valuations, the performance of unicorns has been a mixed bag. On the whole, an investor in the second half of the decade was likelier to have put money into a unicorn that was unprofitable and whose value has dropped as a public company than an investor in the decade’s first half, The Wall Street Journal found.
You Can’t Just Call Loans Options
> Also tech companies as banks, the bank of crypto and index funds.
> A weird feature of U.S. tax law is that, if you do a thing purely to get around tax rules, then that is bad and a sham and the IRS can look through it and make you pay your taxes. But if you do the thing not only to get around tax rules but also to get around other rules (like margin requirements), then from the IRS’s perspective you have a valid business purpose and you might be able to keep your good tax treatment. “We’re not just gaming your rules, we’re gaming other regulators’ rules too” is, surprisingly, an argument that might persuade the IRS.
> The advertising for the Apple card calls it “A new kind of credit card. Created by Apple, not a bank.” That appears to be true of the appearance of the physical card. But the credit algorithms were created by a bank, to Apple’s eventual embarrassment. It is just a little odd that Apple seems to have been so incurious about the algorithms. It’s a tech company!
The Google Squeeze
> OTAs have always been a special case when it comes to Aggregation Theory; like Aggregators, they serve customers on a zero marginal cost basis, and they have power over supply (hotels, primarily) by virtue of delivering them demand. The hangup for me is how they acquire that demand: first and foremost from Google.
> This arrangement between OTAs and Google has long been beneficial to both sides. Google drives traffic to the OTAs, which can monetize that traffic via commissions extracted from suppliers.2 Google, meanwhile, not only receives relevant results it could serve to customers, but also makes billions of dollars from OTAs buying search ads.
An Incredible Move: The Indiana Bell Telephone Building
> The massive undertaking began on October 1930. Over the next four weeks, the massive steel and brick building was shifted inch by inch 16 meters south, rotated 90 degrees, and then shifted again by 30 meters west. The work was done with such precision that the building continued to operate during the entire duration of the move. All utility cables and pipes serving the building, including thousand of telephone cables, electric cables, gas pipes, sewer and water pipes had to be lengthened and made flexible to provide continuous service during the move. A movable wooden sidewalk allowed employees and the public to enter and leave the building at any time while the move was in progress. The company did not lose a single day of work nor interrupt their service during the entire period.
How airplane food goes from the kitchen to your flight
> Gate Gourmet is one major player in the airplane catering game, feeding about 750 million passengers a year in about 60 countries. On a typical day at its Dulles International Airport branch, in suburban Washington, the company is responsible for getting 18,000 meals onto 275 flights. In busy seasons, that number jacks up to 25,000 meals.
I Got Access to My Secret Consumer Score. Now You Can Get Yours, Too.
> Little-known companies are amassing your data — like food orders and Airbnb messages — and selling the analysis to clients. Here’s how to get a copy of what they have on you.
> As of this summer, though, Sift does have a file on you, which it can produce upon request. I got mine, and I found it shocking: More than 400 pages long, it contained all the messages I’d ever sent to hosts on Airbnb; years of Yelp delivery orders; a log of every time I’d opened the Coinbase app on my iPhone. Many entries included detailed information about the device I used to do these things, including my IP address at the time.
Knotel wants to be WeWork — without the ‘bloodbath’
NCAA Clears Way for Athletes to Be Compensated
> The move came amid growing pressure from legislators, a month after California passed a law requiring schools in the state to allow college athletes to earn endorsement money, and represents a stark shift in policy.
> In a concession the NCAA had long resisted, the organization’s governing board directed its three divisions to immediately consider changing the rules governing such benefits for athletes, and to make all such changes no later than January 2021.
DB-19: Resurrecting an Obsolete Connector
> This is a happy story about the power of global communication and manufacturing resources in today’s world. If you’ve been reading this blog for any length of time, then you’ve certainly heard me whine and moan about how impossible it is to find the obscure DB-19 disk connector used on vintage Macintosh and Apple II computers (and some NeXT and Atari computers too). Nobody has made these connectors for decades.
We Could Really Use Some Money
> In better times, really not that long ago at all, we talked about WeWork as a clever financial arbitrage, segmenting the market so that it could appeal to debt investors as a boring stable real-estate company while appealing to equity investors as a fast-growing high-multiple tech company. Now, in worse times, it is the opposite: If you invest now, you can get some terrifying debt that lenders don’t want combined with some cursed equity that the stock market doesn’t want.
> Did WeWork founder Adam Neumann disturb a mummy and trigger an ancient curse? Was a WeWork built on a haunted graveyard, unleashing powerful dark energies and also elevated levels of formaldehyde? How do you have such a relentless parade of negative financial news and then find out that your phone booths cause cancer? “Our phone booths might cause cancer” was not an IPO risk factor. Nobody had “phone booths cause cancer” on their WeWork Disaster Bingo cards.
California Governor Signs Bill Allowing College Athletes to Earn Money
Goldman Sachs Tries Banking for the Masses. It’s Been a Struggle.
> Goldman’s new consumer bank, which operates under the brand Marcus, has lost $1.3 billion since launching in 2016. It spent heavily to buy startups and cloud-storage space, hire hundreds of techies, and build call centers in Utah and Texas. Loans have gone bad at a higher rate than that of rivals.
> A credit card developed with Apple Inc. was a coup, but a costly one: Thousands of engineers across Goldman were diverted to finish it in time for an August debut, delaying other projects. Apple ads for the card carried the phrase: “Designed by Apple, not a bank”—a line that didn’t appear in a giant banner ad in Goldman’s lobby this fall.
Plus some other interesting details in here.
WeWork C.E.O., Adam Neumann, Stepping Down Under Pressure
The Legitimate Vulnerability Market
> Trading of 0-day computer exploits between hackers has been taking place for as long as computer exploits have existed. A black market for these exploits has developed around their illegal use. Recently, a trend has developed toward buying and selling these exploits as a source of legitimate income for security researchers. However, this emerging “0-day market” has some unique aspects that make this particularly difficult to accomplish in a fair manner. These problems, along with possible solutions will be discussed. These issues will be illustrated by following two case studies of attempted sales of 0-day exploits.
> May 6, 2007
Where oil rigs go to die
> When a drilling platform is scheduled for destruction, it must go on a thousand-mile final journey to the breaker’s yard. As one rig proved when it crashed on to the rocks of a remote Scottish island, this is always a risky business