iBankCoin
Joined Oct 26, 2011
30 Blog Posts

is slavery a profitable endeavor? — $uber $lk

no missive coming. only spitting what’s top of mind. jungle is underground and on the go at the same time. like her space alien magician comrade, le fly.

luckin, not quite “strabucks of china” — humans are prone to slavery. arabs, especially (more on that later). our slothy species are prone to offload labor, when given the chance. hence those residing in richest countries have higher incidence of metabolic syndrome. go figure. psa: if one does not move their derrier, one will invite complications in the health department. back to the topic at hand: chinese not fussy/educated when it comes to coffee. chinese hoi-pollloi not fucking around with chemex or hario kettles. that shit is for japanese, koreans and ‘murkans. chinese drink 4 cups of coffee per annum, whilst asiatic enemies quaff 180 cups per annum, and farrago stationed in portland, seattle, and sf etc take down 360 cups per annum (intravenous). ~85% of chinese population drinks instant coffee. ~85% of global population drinks brewed. cultural differences.

ceo has ride-hailing/rental/transport experience. ex-coo of ucar, premium ride-hailing app with 3million daus. ucar owns fleet, hires pro drivers. much smaller than didi. ceo regarded as an operations expert. chairman of ucar, zhengyao lu — also non-exec chairman of luckin. has a 30% stake in luckin. ceo jenny qian, has ~20% stake. #skininthegame — all slave-ownners understand slavery game. hence saudis fund kalanick’s new venutre : cloud-kitchens aka slave-kitchens. slave-kitchens, effectively/supposedly selling ‘infrastructure-as-a-service’ — no need for expensive real estate to churn out cheap and cheerful classics. rabble generally (algorithmcally speaking) want these on-demand. not unlikely that chinese cabal has similar designs. capture customer offline at luckin pick-up locations (cheaper than online-cac) — and leverage captive customer by up-selling food manf’d at ghost kitchens. kalanik/qian will do kitchen, delivery, marketing. all they need are slaves to execute. kapish?

quoting kalanick: “Some people don’t like to take responsibility for their own shit. They blame everything in their life on somebody else. Good luck!” —– may the ghost of kashoggi visit you in your darkest days. perferably in your dankest ghost-kitchen, fucker!

3q19 (calendar) call notes: product revenue – CNY 1.493 billion or ~$214.3 million, an increase of 558% year-over-year. total number of stores at the end of the quarter were 3,680 stores +209.5% yoy from 1,189 in 3q18. still on track to open 4,500 stores by end of 2019, per last call. average monthly total items sold in the quarter were 44.2 million, representing +470.1% yoy from 7.8 million 3q18. revenue from non-coffee products increased from the 31% of 2018 to 45% in the third quarter this year. number of items sold per store per day materially increased to 444 during the quarter from 345 in the second quarter and 285 in the third. quarter last year. negative cash flow from operations has significantly reduced over the quarter to CNY 123 million from CNY 375 million last quarter and CNY 720 million during the third quarter last year. average total net revenues from products per store in the quarter were RMB449.6 K ($62.9K), +79.5% from RMB250.5K in 3q18. guidance 4q19: net revenue from products to be between CNY 2.1 billion and CNY 2.2 billion.

greater fools
= lone pine, melvin, point72 (cohen), qatar inv, alkeon
=> all betting on greater fools. qed.

ps: anyone care to explain why this is a fucking JOBSACT IPO?

As a company with less than US$1.07 billion in revenue for the last fiscal year, we qualify as an “emerging growth company” pursuant to the Jumpstart Our Business Startups Act of 2012 (as amended by the Fixing America’s Surface Transportation Act of 2015), or the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002, or Section 404, in the assessment of the emerging growth company’s internal control over financial reporting. The JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards until such date that a private company is otherwise required to comply with such new or revised accounting standards. We have elected to take advantage of such exemptions.

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ON THE IMPORTANT MATTER OF
IDLENESS, LABOR, SLAVERY AND HUSTLE CULTURE

per mr. bertrand russell :

From the beginning of civilization until the industrial revolution a man could, as a rule, produce by hard work little more than was required for the subsistence of himself and his family, although his wife worked at least as hard and his children added their labor as soon as they were old enough to do so. The small surplus above bare necessaries was not left to those who produced it, but was appropriated by priests and warriors. In times of famine there was no surplus; the warriors and priests, however, still secured as much as at other times, with the result that many of the workers died of hunger. This system persisted in Russia until 1917, and still persists in the East; in England, in spite of the Industrial Revolution, it remained in full force throughout the Napoleonic wars, and until a hundred years ago, when the new class of manufacturers acquired power. In America the system came to an end with the Revolution, except in the South, where it persisted until the Civil War. A system which lasted so long and ended so recently has naturally left a profound impression upon men’s thoughts and opinions. Much that we take for granted about the desirability of work is derived from this system and, being pre-industrial, is not adapted to the modern world. Modern technic has made it possible for leisure, within limits, to be not the prerogative of small privileged classes, but a right evenly distributed throughout the community. The morality of work is the morality of slaves, and the modern world has no need of slavery.

Of course the holders of power conceal this fact from themselves by managing to believe that their interests are identical with the larger interests of humanity. Sometimes this is true; Athenian slave-owners, for instance, employed part of their leisure in making a permanent contribution to civilization which would have been impossible under a just economic system. Leisure is essential to civilization, and in former times leisure for the few was rendered possible only by the labors of the many. But their labors were valuable, not because work is good, but because leisure is good. And with modern technic it would be possible to distribute leisure justly without injury to civilization.

I do not think the fact that these people are allowed to be idle is nearly so harmful as the fact that wage-earners are expected to overwork or starve. If the ordinary wage-earner worked four hours a day there would be enough for everybody, and no unemployment — assuming a certain very moderate amount of sensible organization. This idea shocks the well-to-do, because they are convinced that the poor would not know how to use so much leisure. In America men often work long hours even when they are already well-off; such men, naturally, are indignant at the idea of leisure for wage-earners except as the grim punishment of unemployment, in fact, they dislike leisure even for their sons.

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