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May 7
1/🧵The big banking question these days: “is private credit a systemic risk” with some comparing it to subprime crisis.

How deep in it are banks ? Data is very hard to find but luckily the Financial Stability Board just dropped its report on private credit. 9 charts that matter
2/ How big is private credit? That’s the fascinating question and the FSB is right to say we don’t know bc there’s no definition.
Estimates range from ~$1.5tn to $50tn depending on what you count.
So pick a number, any number. Image
3/ More importantly the chart we've been waiting YEARS for: how much do banks actually lend to private credit funds, globally? Answer: <0.3% of bank assets even in the UK (the "leader"). Every shadow-banking-contagion thinkpiece should reflect on this. Image
Read 12 tweets
May 7
A thread of satisfying korean/k gp comments

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K gp still salty about yellow journalism and astroturfing Image
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Read 8 tweets
May 7
1/ It's not just this Saturday's Victory Day parade that's been cancelled or cut back in Moscow; so too has the city's annual cleanup, for the first time in over a hundred years. The city will have to remain dirty for another year. ⬇️ Image
2/ Cleanup days, or subbotniks, originated in the spring of 1919 under Lenin's rule. They started as voluntary events mainly for communists (Komsomol members) and sympathisers. In later years, they became a familiar, characteristic feature of the "socialist way of life." Image
3/ Party ideologists viewed subbotniks as a means of "communist education of the masses". Participation in subbotniks became a measure of an individual's social activity, and the few who shied away could be subject to public censure or even administrative action.
Read 13 tweets
May 7
Why I support the Jewish people and Israel
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I never really paid much attention to middle east conflict; it's endless and they are always killing each other for some reason or imagined slight or whatever.
/1
I would have been a teenager at the time, but do actually remember when every 2-3 days there would be yet another news report of some nutter blowing themselves up on a bus in Tel Aviv, or blowing themselves up in a market.
/2
It was relentless, but it was half a world away, so easy to switch off from!

I had a good Jewish friend I worked with, but we lost touch when I started working down south, and back then virtually no-one had internet/email and web pages were all plain text and
/3
Read 27 tweets
May 7
SitRep - 06/05/26 - Russia ignored Ukraine's ceasefire

An overview of the daily events in Russia's invasion of Ukraine. Russia ignored and violated the Ukrainian announced ceasefire, once again showing Putin has no interest in stopping the war.

REPOST=appreciated

1/X Image
As usual we start with Russian losses
Read 22 tweets
May 7
$GME shareholders can deploy asymmetric "financial guerrilla tactics" to amplify the $EBAY acquisition campaign by targeting pressure points like share price stability, institutional persuasion, and EBAY's long-tail owners. These low-capital actions leverage the community's scale Image
Compile/share contact lists for top EBAY holders overlapping GME ownership (e.g., BlackRock 8.65% EBAY/7.79% GME, Vanguard, State St—~37.5% bloc per Reddit analysis), urging emails/calls for proxy support on synergies like $2B cost savings and collectibles integration. Image
Top overlapping institutional holders of $EBAY and $GME — collectively controlling ~47% of EBAY based on recent analyses—provide a prime target for coordinated outreach in support of GME's acquisition. Image
Read 7 tweets
May 7
That's my niece on the right. As much as I am, she too follows the bloodline of #SyamaPrasadMookerjee. Her husband (Retd) Major Ritwick Paul's only mistake was to stand for election against Kalyan Banerjee in 2021. Do you remember how cold it was in December? He spent 15 days 1/2 Image
2/3 nights are Serampore prison. Anyone else wouldve come out broken but he didn't. His political career was destroyed because he wanted to fight for honesty & righteousness. It was Twitter those days. I tweeted. My handle got banned. Everyone was sacred to tweet but @subhsays Image
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@subhsays 3/3 stood his ground. TMC hounded Subham, threatened him, sent him notices. He never barged. Just a stark reminder to everyone that we've come a long way & @SuvenduWB was always stood by his team.

Read 3 tweets
May 7
January 2025. ₦0 in my account.
I sent 57 job applications in one month.
Got 2 responses. Both were rejections.
So I deleted my CV and tried something stupid.

furtunately It worked...
walk with me...
I was doing everything "right."
Tailoring my CV for every role.
Writing cover letters at 2am.
Refreshing my email every 20 minutes.
57 applications.
2 replies.
Zero interviews.

Something wasn't wrong with me.
Something was wrong with the approach.
So I stopped applying completely.
Instead I spent 3 days just watching.
I found a small online skincare brand on Instagram. Lovely products. Engaged audience.
But their emails was quite Terrible.
No welcome sequence. No follow-up. Nothing.

I wrote them a full 3-email welcome sequence. Unsolicited. Unpaid. Just sent it.
Read 8 tweets
May 7
#SupremeCourt to hear plea challenging law providing that selection panel for appointing Election Commissioners will consist of the Prime Minister, a Union Cabinet Minister, and the Leader of Opposition.

Bench: Justice Dipankar Datta and Justice Satish Chandra Sharma. Image
The petitioners have argued that the law violates constitutional principles affirmed by the Supreme Court in Anoop Baranwal v. UoI judgement, which provided for a selection panel comprising the Chief Justice of India apart from PM and LoP.
livelaw.in/top-stories/su…
Yesterday, the Court rejected Centre's plea to adjourn the matter and began hearing arguments, orally observing that this case is more important than any other.
livelaw.in/top-stories/th…
Read 49 tweets
May 7
Roger Froikin @rlefraim wrote on December 30, 2019: PERHAPS IT IS TIME FOR THE STATE OF ISRAEL TO END THE ISRAEL-USA AID AGREEMENT.
1)
Some years ago, when he was Israeli Finance Minister, Benjamin Netanyahu suggested that ending the US-Israel aid program should be considered. At the time, it constituted 8% of the Israeli economy, and reducing or eliminating it would have been quite a sacrifice,
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but some considered the agreement to be a weight on Israel’s economy, depressing growth and business opportunities elsewhere, and that any such agreement was economically unhealthy.
3)
Read 10 tweets
May 7
There’s little surprise that Governor Rajendra Arlekar’s delay in inviting Vijay, as the leader of the single largest party, to form the government is facing criticism. However, such criticism shouldn’t be facile. Let us examine the logic behind his position. A long thread. 1/n
There’s no doubt that in the absence of a pre-poll alliance with the requisite majority, the Governor has to invite the single largest party. However, this convention need not be used to install a government in haste. 2/n
The Constitution is silent as to how the Governor’s discretion in government formation is to be exercised in the event of a hung Assembly. However, conventions have a say. 3/n
Read 18 tweets
May 7
The next wave of AI will not be won by better prompts. It will be won by systems that learn from experience.

Today, Prime Intellect Lab is out of beta, open for you to start training your own models.

The era of self-improving agents is here.
Previously, improving a model meant waiting on the frontier labs.

Lab brings the model improvement engine right to you:

Build. Evaluate. Train. Deploy. Image
Lab is launching with self-serve support for models from Nvidia, OpenAI, Meta, Qwen, with more coming soon.

Models range from 1B to 400B parameters covering both dense and MoE architectures, reasoning and non-reasoning modes, and text and image modalities. Image
Read 7 tweets

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