Howard Marks memo ( Oaktree Capital Management)

tsznecki said:
@nooby_mcnoob So the Chinese have beaten you. They are more technically savvy then the publishers of your DRM. They clearly have the cake and are eating it.

I hear you on IP, but trying to get them to pay in a situation you have clearly lost seems pointless. Why not discriminate and sell to the Chinese market support or value adds?
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Initially, I thought to just call your viewpoint idiotic and leave it at that. Why on earth would I spend more time catering to thieves?

This is about what kind of world you want to live in, not the world you live in. If we all accept the lowest common denominator as a fact of life, then we will never progress.

The only reason China was able to come out of its doldrums was by becoming the manufacturer for the world. Great. Here's the problem: that wasn't very long ago. This model of stealing everything to bring yourself up isn't proven out in the long term. The only model that has been proven out over a long period of time is a modicum (not too much) of legalized civility and property rights, i.e., capitalism.

At the dog park the other day, I got to talking with a Chinese woman who left China about 10 years ago. Totally unprompted (or maybe she could sense I had an opinion), she said that the Chinese people are greedy and do not understand love, compared to the West. My experience with recent ex-pats from China agrees with this assessment.

With a billion people, surely China can out produce everyone else. If they get there by stealing, and forced IP transfers, etc, the rest of the world should shut them out.
 
nooby_mcnoob said:
Initially, I thought to just call your viewpoint idiotic and leave it at that. Why on earth would I spend more time catering to thieves?

This is about what kind of world you want to live in, not the world you live in. If we all accept the lowest common denominator as a fact of life, then we will never progress.

The only reason China was able to come out of its doldrums was by becoming the manufacturer for the world. Great. Here's the problem: that wasn't very long ago. This model of stealing everything to bring yourself up isn't proven out in the long term. The only model that has been proven out over a long period of time is a modicum (not too much) of legalized civility and property rights, i.e., capitalism.

At the dog park the other day, I got to talking with a Chinese woman who left China about 10 years ago. Totally unprompted (or maybe she could sense I had an opinion), she said that the Chinese people are greedy and do not understand love, compared to the West. My experience with recent ex-pats from China agrees with this assessment.

With a billion people, surely China can out produce everyone else. If they get there by stealing, and forced IP transfers, etc, the rest of the world should shut them out.
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Oh I don't know maybe that story about your friend selling support? Or was that made up like your Chinese woman in a park too?

I would have thought a savvy businessman would see another opportunity to increase revenue. Or perhaps the reality is you are not as savvy as you thought if you thought the whole world was going to play by notions of contracts and legality. Pitifully naive.

And as for the rest of your soapbox rant, while I agree with you on progress I think the better way to is better one's self rather than change the ways of the world.

In the grand scheme of human history, maybe China will open up. Who knows? But your opinion nor mine matters.

Or maybe Xi Jinping's right about China attaining self sufficiency(he's not).
 
tsznecki said:
Oh I don't know maybe that story about your friend selling support? Or was that made up like your Chinese woman in a park too?
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I don't understand how we can have a conversation if you assume I am making things up. Best way to know if I am telling the truth or not is to see if there are other people experiencing similar things. Maybe Chinese woman in the dog park isn't reproducible, but you can see through Huawei that theft is standard operating procedure for the Chinese.

Maybe you can decide whether you would like to have an even conversation rather than assuming someone is lying to make a point. Most likely you're projecting for whatever reason.

Edit: as for my friend, the only reason I knew about it is because he asked me for advice since his software could be used for oppression(!)
 
nooby_mcnoob said:
I don't understand how we can have a conversation if you assume I am making things up. Best way to know if I am telling the truth or not is to see if there are other people experiencing similar things. Maybe Chinese woman in the dog park isn't reproducible, but you can see through Huawei that theft is standard operating procedure for the Chinese.

Maybe you can decide whether you would like to have an even conversation rather than assuming someone is lying to make a point. Most likely you're projecting for whatever reason.

Edit: as for my friend, the only reason I knew about it is because he asked me for advice since his software could be used for oppression(!)
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I like how you conveniently ignored the rest of my post. Speaking of projecting.....

The key point here which you conveniently didn't address or maybe reading comprehension isn't your strong suit so I will write it out for you is: the rest of the world doesn't play by the same rules as the West.

You also missed my point on moving on from whatever the Chinese did and getting new customers. Which is what a smart person would do with their energy and time. Of course I'm talking to you....

Are you really that fragile that industrial theft and oppression are new things to you? I got news for you, kids are dying in Africa. Where's your outrage for them?

nooby_mcnoob is quite an appropriate username for you.
 
I didn't respond to the rest of your message because your premise for engaging with me is flawed. I thought that was clear. "How can we have a conversation if XYZ". I would not remain involved in such a conversation because there is no point.

My assumption based on how you've responded to me (poor African children, theft and oppression are normal) is that you likely had a rough childhood or came from a country/upbringing which did not have abundance. I also came from such a place but abundance mentality was always in us. Abundance implies creation of a bigger pie. Stealing is the lack of abundance mentality or that the pie is limited.

In the abundance mentality you work together to build. Stealing goes against that. I don't care what the dregs of humanity can think up I will always aspire to be better.
 
nooby_mcnoob said:
I didn't respond to the rest of your message because your premise for engaging with me is flawed. I thought that was clear. "How can we have a conversation if XYZ". I would not remain involved in such a conversation because there is no point.

My assumption based on how you've responded to me (poor African children, theft and oppression are normal) is that you likely had a rough childhood or came from a country/upbringing which did not have abundance. I also came from such a place but abundance mentality was always in us. Abundance implies creation of a bigger pie. Stealing is the lack of abundance mentality or that the pie is limited.

In the abundance mentality you work together to build. Stealing goes against that. I don't care what the dregs of humanity can think up I will always aspire to be better.
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Oh so you like to ignore facts. Typical alt right cuck mentality when beaten in an argument. That and the usage of "abundance mentality". I read the same sources you read. Except I don't throw catch phrases to ignore the reality of different cultures to explain lack of success.

Speaking of "abundance mentality" I clearly say you should move on to other revenue sources but clearly you can't/won't acknowledge that part. So much for "abundance mentality".

tsznecki said:
And as for the rest of your soapbox rant, while I agree with you on progress I think the better way to is better one's self rather than change the ways of the world.
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If you care to get some reading comprehension and maybe 25 IQ points, you backtrack in your own argument and admit I am right in the above quote by saying one should aspire to be better.

Thanks for playing. What an amateur league competition.
 
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