Comments by "" (@TheDavidlloydjones) on "Wendover Productions"
channel.
-
49
-
A very frequent cause of bankruptcy is people confusing good and bad. "Debits" sounds like debt, which it isn't, and "credits" sounds good which it may be -- or not.
This video shows us a classical case of this confusion in action. Loyalty is sweet and good, so a loyalty program ought to be an asset. These folks have found dollar numbers at the bottom of their programs' tally sheets, so that must be a bankable asset, right?
Not right.
These loyalty programs are services owed by the airlines to past customers, and those footings are the worst case of how much they might have to pay out, in services, if those customers come back to cash in. (When those "miles" went on the books they were reserves against income, i.e. tax reductions. Here in this video that are called "income" when in reality they are the future expenditure of flying customers free. Bookkeeping flim-flam in both instances. )
One more example of why Warren Buffett says he never invests in airlines. No, they're not banks here: they're beggars rattling their very empty cups.
9
-
4
-
3
-
2
-
2
-
2
-
2
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
At 4:31 this story exactly contradicts itself. Just before that they say that "binary" transmits ones and zeroes. Then I guess somebody figgered out that uh-oh, you can't transmit a zero, so they 'fessed up.
"Binary" is just another sort of FM.
"Ones" are slightly faster frequencies than "zeroes." In this convention, anyway.
Then they do it again at 12:15. When things get crowded, they "use digital signals encoded using phase and ampllitude." That's called frequency modulation, FM, and ampllitude modulation, AM. It's not digital.
When they use the phrase "efficient digital signal" at 13:00, they are lying. What they mean is "efficient analog signal." (Do they use PCM, pulse-code modulation, between the diaphragm of the microphone and the encoder of the radio transmitter? They don't say.)
1
-
And remember, kiddies, "each" means one. so each of anything is singular and takes a singular verb. When somebody, e.g. Wendover, says "each are" it means they've lost track of their subject. They don't know what theyre talking about.
Just take it down, rewrite it and re-record it, OK, Wendover? The pictures are fine, and the technical background is roughly correct. It's only every single detail that you've gotten wrong, Wendover.
You've assaulted 87,000 people to date, August '24. Time to stop maybe?
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1