Specifically the Eurodollar is the main reason for the City of London to exist.
Eurodollars are US dollar deposits at European banks. Originally these were used as a way to give the Soviet Union access to the dollar markets through French banks, but eventually it became a way for basically anyone to participate in dollar exchange who can't have a US bank account.
Sangamon was converted back into a tanker and wrecked ironically in Japan after the war.
The Sangamon class along with the Bogue, Casablanca and Commencement Bay were classes of escort carriers (CVE) created during WWII for anti-submarine operations. They were also used on a wide variety of tasks including resupply (especially of aircraft) to the front in the pacific war, and close air support of landing beaches.
The Sangamons (there were 5) were converted tankers; the smaller Bogues were converted freighters. The later classes were built as aircraft carriers. All together the US built well over 100 CVEs during the war. Several were lost.
USS Wolverine and USS Sable were converted lake steamers built specifically for training air crews. Of course the US needed vast numbers of qualified carrier pilots to man all these new carriers. Training pilots for carrier operations required an aircraft carrier. But at the beginning of the war the US was very short on carriers.
Additionally there were U-boats and Japanese I-Boats sinking shipping on both American coasts. Any carrier out there lazily sailing around while pilots practiced landings would be a sitting duck without a big fleet around it.
The Great Lakes were safe from U-boats but large ships couldn't yet enter them since the St Lawrence Seaway didn't yet exist, so they needed to use ships that were already on the lakes.
I believe George HW Bush qualified as a naval pilot on USS Wolverine.
The Chicago Maritime Museum is a very small but well-curated museum that includes a large scale model of USS Wolverine.
Microsoft cleaned up when they got hit with antitrust and then started feeling a bit of competition when operating under consent decree. That's all "behind" them now and the Google settlement put antitrust to bed.
No, I mean I as a relatively junior employee literally got a daily email with nationwide same store sales (dollar amounts , aggregated region, and corporate, franchise, etc) vs prior day, week, month, year and if it was ever down on even day 1 or 2 of a promo like “LTO spicy chicken funbox” or whatever you can guarantee the CEO would be calling and trying to upend and reverse the 3+ months of work you put into that product, campaign, etc because a single day of sales was down. No matter if it might have been down because of a cold front or literal noise in the data rather than a bad product. Everyone’s head was on a swivel and I can’t think of many more stressful environments
I personally witnessed this, at more than one of the top 5 qsr chains
Combining this with a SPAC a startup would be able to have a six month runway as a public company before having to disclose finances. I imagine that would be attractive to some firms.
Weird, why wouldnt this fantastic startup want to report on their performance in a standardized and accountable manner for six months after collecting public money to pay out insiders and “sponsors”?
Surely they wouldnt mind bragging about their fantastic GAAP P&L in their filing docs. Maybe its the pesky quiet period theyre trying to avoid, so they can be even more transparent about finances and equity holders.
> even if Chamath only created them to exit his sh*t investments. There are very few other ways for retail investors to invest in potential 100-1000X companies
"I have this exciting bag-holding opportunity for you."
Or even start with monthly. The problem with quarterly reporting is the internal efforts to "game" the quarter. The more aggressive disclosures are, the less of a shell game people can play to "make the report come out right."
Moving it to bi-yearly does the opposite. CEOs can now do the same amount of gaming with half the effort. Or twice the gaming with the same effort.
The central government in Bejing doesn't care even a little bit about some property dispute in Henan but there's a local apparatchik who cares or who could be made to care with the right consideration.
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