AP

Grabbit - Gundas in 10min

French quants building the most complicated structured product ever seen just to hide a 150 bps sales credit

Last year I had a conversation with someone who majored in physics at UChicago. He initially started in math & thought he was prepared having taken AP Calculus BC, but he got smacked in the face by the level of abstraction and proof-writing ability that was assumed. He couldn't keep up with his classmates who had already done proofs while taking even MORE advanced courses in high school. So he switched to physics where proofs were less frequent & the playing field felt more level in terms of prior knowledge that classmates had coming in. He would have liked to study math if he had more time to catch up, or if he knew earlier how far behind he was – but he did great in his high school math classes & was recognized as one of the "smart kids," so he never suspected he was actually behind the curve. Zooming out, this case study is representative of a general phenomenon that can sneak up on you when you’re at, say, the 99th percentile of a skill. At first, you’re exceptional enough that you receive praise from virtually everyone, and you may never go head-to-head with someone who can beat you. That is, until you join some specialized program where everyone is at the 99.9th percentile – where, suddenly, you’re the worst one there. And here’s the real kicker: if it’s a time-sensitive program, you may be so far behind that it’s infeasible to catch up. If you knew the caliber of these people earlier, you could have spent time working harder to join their ranks in the 99.9th percentile… but that moment has passed, and now the door is closed on this opportunity.

To clear this once and for all!.. There are two cities within BLR being 1) Bengaluru 2) East Bangalore I.T sector areas are concentrated in East blr. 15 - 20 years ago these areas were forests/small villages (halli = village in kannada) now Varthur, Marathahalli & Whitefield etc . From 2007 after the formation of B.B.M.P these areas came within city limits and this massive consolidation expanded Bangalore's administrative area from 226 sq km to 800 sq km. Nothing about these areas are like og "Bangalore" its an unplanned, concrete mess, with horrible roads, no trees. Honestly its a lot like Gurgaon. Most migrants especially tech bros who move to Bangalore settle here in these areas because its where the tech parks and offices are and their experience here is jarring because the living conditions are horrible and mostly migrants live here. It can give the impression that there are no locals there, expect the ones who drive autos and do blue collar jobs. This is where the sentiment comes from that "Tum kannad log toh bas auto chalate ho, ya phir rent lete ho". Meanwhile the locals and rest of the people who've lived here for generations live in og Bengaluru 🙏 of which Koramangla, Indiranagar and HSR layout are just a small part off. MG road and church street etc are just the some small central areas. The city in itself is so massive, with a lot of different kind of people from so many different states. Now coming to this "Grocery Rave", very honestly I don't care enough, i know the concept sounds weird and also ¿ ??.. believe me, I know. But to each their own, it's a free country. My issue is with the fact grocery raves, run clubs, coffee raves etc are categorized as Bangalorean people's inventions, when it's actually 1) Not run by people who were born in Bangalore or even studied here, most of the times they are from delhi or Mumbai, or Calcutta who move here for work 2) when these same events happen abroad or other cities not much is said but the minute it's associated with Blr, all hell breaks loose. Now imagine as a bangalorean im drinking my filter coffee and im chilling and i open twitter, only to see people from Delhi and Mumbai shit on Bangalore because someone for example starts a Grocery Rave, what did Bangalore have to do with this 😭 are they even bangalorean? They just moved here it's not a " Bangalore" thing stop dragging the city into everything. Yall people only move here and then yall only call each other out for random stuff. Its so incredible to watch from the sidelines and somehow Banaglore keeps getting beat up for no reason. And impression its causing online is that people from blr are into some whack stuff and it seems very pretentious whereas real bangaloreans who are born/ studied here/ lived here for a long time are some of the kindest, down to earth and most interesting people you will meet. But these random blue tick accounts will make blr seem like its just where the tech bros live. To draw a parallel of sorts to delhi for better understanding of this situation -- imagine Delhi is Bengaluru and Gurgaon is East Bangalore. And people in Ggn drive their thars, the city floods, there's not much to do in ggn other than drinking. And then all the tweets say Delhi is such a horrible city to live in. But you're not in Delhi its ggn.. Same way the rest of blr is 👍 East Bangalore is basically like Gurgaon on all counts its just a mess.. although it falls within the same city limits unfortunately If you're gonna shit on it start saying East Bengaluru please 🙏 because these two areas could not be more apart in every aspect