Hello, everybody things are starting to make sense a little bit and What I'm talking about is that we had a story that we covered pretty extensively yesterday and we took a look at the NASDAQ NASDAQ is it states its eye eyes the crypto custody launch by end of second quarter and when we talked about this this yesterday and I was pretty bullish on it There was a five different stories that maybe extremely bullish This was one of them fidelity and then we had black rock and the different aspects that are going with Coinbase Now they were fighting back and and this one it stuck out to me because I thought it was interesting that that NASDAQ is going to launch Crypto custody and this was a this was a big story a couple days ago and yesterday and people were talking about well You know if Coinbase gets a Wells notice then the NASDAQ is for sure gonna get a Wells notice and they're gonna gonna be sued and I said very clearly yesterday said no They're they're not because they're not selling securities or they're not doing staking or they're not you know Whatever other you know, whatever Gary Gensler thinks that the centralized exchanges are actually doing all their offering is custody service Custody service for digital assets and that's it and they pretty much said they're only an offer right now Bitcoin Ethereum So the so the the thesis was maybe Bitcoin theorem is gonna lead the charge Later on for crypto and digital assets in the traditional markets But today I was again. I was just thinking about I'm like well, it's interesting. They're doing that and I'm like why are they doing that? Why is is this and nigh dig and some other different big players just getting into custody and Then this article came out. I found it quite interesting about what's happening with banks This is a German DWP bank to offer Bitcoin trading to 1200 affiliate banks the new platform And after we get out of this things start to make a little more sense. So DWP bank offers and what it does right now it offers securities processing To 1200 banks in Germany and they're gonna create a new platform called WP next this off This is gonna offer Bitcoin doesn't say anything about Ethereum doesn't say anything about Cardano or Avalanche right just Bitcoin Now this article could not be complete It could be lacking in something but as of the information I have right here just Bitcoin And it's gonna offer that to all of its affiliates retail customers in the second half of this year This will not require additional KYC procedures or know your customer And then walled as a service provider Tangany and bank how scheisse's trade is digital asset trading services will also participate Retail customers will not hold private keys. Let me say that one more time Retail customers will not hold private keys and that's a problem But that's a problem for a totally different reason but as far as like adoption getting out there Okay, step in the right direction. These are doing something The bank plan to add other cryptos besides bitcoin digital assets and tokenized securities to the service in the future and what your banking was the first wpb bank Affiliate to sign the platform and it's already performed a transaction So I got to tell you this has already come out. They've already talked about doing it. They've already offered it to the banks They say sure so Then the question is well, what are the people doing behind the scenes because to me for businesses You can have a full suite of services and it could work out pretty well But if you really want to really dominate your sector, you really want to be there and do something exceptional In one aspect of that So to me when I see these things and I see like again NASDAQ coming out and going we're going to provide custody and then you got, you know these German companies and they're offering it to their banks I can see the same thing happening in america But just way Longer down the line. So again The banks could be offering the service and we'll take a look at a story in a little bit But then you'll have other places other institutions which will hire which will have just the custody services now These people that are getting into crypto. They're not going to understand. This is the problem They're not going to understand how important it is to hold your crypto. I made that mistake myself I think we all have at one point in our Career of getting into crypto But it's up to us to to help them understand like why they should be holding their crypto On their cold store device as opposed to a bank and this is the problem however It does help us move the needle Which is still kind of a bummer But you can see how like you'll have one for custody and one for assets and this reminds me of nigh dig And nigh dig we talked about this for over a year now And this is one of the articles deloitte and nigh dig announced the lines provide banking for all with bitcoin I want you to notice the date though on this june 21st, 2022 I want you to notice the date on this story here Yes 22 hours ago so not only did The german dealer bank offered this Already one of its affiliates has already done it signed up and made a transaction Deloitte and nigh dig june 21st 2022 Again, it just talks about and my nigh dig will work with deloitte's blockchain and digital asset practice across multiple areas involving bitcoin products Such as banking consumer loyalty and rewards programs employee benefits and more and if we go even farther back This is from january 25th Nigh dig leading bitcoin company is parting with banks and credit units to bring bitcoin to main street right now I mean NY melon is is offering these these services But it's not like there's a ton of banks in different places Offering these services and the ones that did offer different services for crypto. We just got shut down So now when I see the things that are happening, you know kind of like in the background like oh that makes sense because These big companies are going to offer custody services Then they're going to allow other banks in different places to get into offering crypto and digital assets to their Customers as time rolls on and it's going to be mostly bitcoin because that's what the sec says Is a security or is not a security and maybe a little ethereum going on down the line The only thing that is going to prevent that is us talking to congressman and senators and things like that And then also and i'm glad this is actually happening Is that coinbase is going to go toe to toe with the sec? Because they're getting sued by them and now we'll see exactly What is a security and what's not a security? But to me when I take a look at this i'm like, ah this now it makes sense. It makes sense. They're going to have They're going to give us their banking buddies They're going to hold the custody they're going to make money off that custody The banks themselves are going to offer the crypto to the people And then of course all the centralized exchanges that we're selling on registered securities are going to get shut down Tell me where i'm off there. So let me just think about that in the comment session section And let's go on to this next piece I just want to go over this really quick because I mean, this is great. This is actually I mean, I think it's good for for some parts of crypto But if you look at anything Just type in the word recession Especially in youtube recession 2023 every single person out there is saying that a recession is coming and it's coming quick and I'm no exception. Actually. I must be honest with you. I uh I think that there is A recession potentially coming especially with with the banks happening. But what if it's not? What if it's what if we're what if everybody's wrong?  I was one of them. I was totally wrong How many people said that luna was going to be the next great thing a lot of wrong people there How many people said that? You know Celsius and voyager was an awesome platform. I said that now it's totally wrong So what if people it is wrong About this recession coming in and I'm not saying that it is going to happen or not going to happen. There's a lot of great Data which says that it is but I mean, what if we're not not there? so I will just challenge you to take a look At bensight into the cryptoverse And there's different tiers. He's got a free tier. You can check it out There's a link in the description you get 10% off the first month, but Like I like to sometimes just peruse through this this site Because I don't know I mean, I don't know if the recession is coming or not I can always I always like this one total market cap and see if we're valued under value right now the the fair market value is 1.98 trillion. We're undervalued by 42 and of course the risk aspects and then In the cater summary, you know, how much at risk it is, but I'd like to go to charts And it's it's it's separated by crypto macro and equity And I like to take a look at just the macro and just go through things and I've I've never done this live So I'm I can't give you all the I can't give you like all the golden goose For for bensight, but I do like to look at certain things and one of those things that like lead us into Recessions and out of recessions is real estate and he's got it broken down pretty nicely here I mean, he's got developers that do this stuff like Ben's all you know has four kids and does this at night but Let's take a look like this one Well, we know the mortgage rate but delinquency rate On real estate secured loans. Now. This is quarter. This is retrospectively. I believe it takes a looks a quarterback So we can just see That delinquency rates Of course in 2008-2009 we saw that crash right Pretty darn high went through recession and even after that it tipped out A couple a couple quarters after but we can see right here. We're doing pretty good actually unfortunately only goes with october again It's a little bit of a lagging indicator, but residential sales. I thought I found this fascinating so like The average sales and this is just in america The median sales price of a house sold is still extremely like ridiculous. I again october New single-family home sold and this is why I like to just go through this these charts just to see and I can see here like even in january Uh new single-family homes uh 633 that's in thousands So it it dropped off, but it's coming back up and then if we take a look at Ah, which one is this the new houses for sale to sold ratio. This is a good one because So it says like this if the instance for if If the ratio is eight then on average for each new house sold there are eight new houses for sale right so What does that mean? Well, that means that If you sell one And then you got right here you got 10 I'm just waiting waiting to go That's a lot of inventory and again once the inventory goes high Prices start to go down and we can see that here in the last recession It just skyrocketed and we saw it over here too, but again In february 2020 we're actually down from it went from 10 Down to eight And then this one is interesting because months to sell a new home if you Are an agent or if you're a builder you don't want a lot of inventory And it's like everything you want to sell that stuff as fast as you can you can just see right down here So the months I mean we bought them now in september but in february 2.5 and this is I mean reasonably low And that's just that's just that part. So then You can go up here to We are only in unemployment debt debt to gvp We topped that over here, but it's not like we're you know falling off a cliff. This is it personal income Real disposable personal income And you can just see that once there was money printing and look at this. This is crazy Real disposable personal income I mean we're coming up here when we had the money printers going crazy high And you think after they started to to take things down Like it would just keep dropping off, but of course. Yes, the fed did add a little bit to its balance sheet but honestly, not too bad And then real disposable personal income per cab and this is adjusted for inflation again still looking pretty good and then Let's see There's just a a bunch of data. You can take a look in here and just to see like where you think it is That's what we talk about do your own research, right? So like if I can use these and I can take a look at and go okay, well I mean I hear what people are saying and they have a lot of good things But there's there's a there's a counter argument to that again not to say that We're not going to have a recession, but you see some things there are some reasonable indicators and again It seems like when everybody says for sure something's going to happen It for sure doesn't happen not all the time I mean Forbes just put out their top five banks and silicon valley bank was on there and they were 100 sure on that one What are you going to do? But uh, that's it. So hire you to take a look at that and uh, you can make your own assumptions But that's it for today. So look That concludes For the news. Oh, I will just ask you for a little bit of help. We're starting the Shameless plug Flappy bird and web 3 Me and some partners If you would be so kind to follow us over on twitter flappy token. Oh I'll put that link in the comments And we're launched later in the year, but that's it for today. I don't want to bug you too much on that one that's uh The bar bit so right now that concludes all the things for the news if you want to stick around and just chat with me We'll talk a little bit about crypto and I'll answer some of your questions If you got questions or just bounce some ideas off me and we'll go from there But if not, thanks for so much for stopping by appreciate it. See you on the next one now. Let's get into the chats let's see It's a good question about not financial advice someone wasn't too happy with it Aha, Danny Garcia Danny says love your content small criticism Not financial advice to become impossible to watch. I would love to hear a dialogue much more than long answers, especially from guy I thought I had the wrongest longest answers. Thanks for keeping us informed And then he says just long answers would love more of a dialogue may not three people with so similar vision I had the same vision. I'd love to hear from others too. This is the problem with us Is that me guy and ben we pretty much see things Relatively the same way. They are a little bit off from me and how they invest. They're not touching anything I think guys may be buying some bitcoin And ben is too. I'm just like I'm just buying I'm just dollar cost averaging. I started at the full dollar cost having like two months ago because I thought I'm never gonna make it be right a hundred percent of time so They're but the other parts like where we see like fed rate hikes and we see where the economy is going and There's some downfalls. We see we think are coming forward Yeah, we agree on those things so for that one Well, I'll talk to the guys and see if we can switch some things up a bit I thought it would be interesting maybe like instead of having just like questions Like one day we could just like I could just have two co-hosts and we can go over the news And uh, they could tell me, you know, their insights and what it means and then can pull up some Some charts and things like that. Maybe that would be it. I don't know So we'll see so Good uh Good comments Danny, he says why does somebody who rents his next or nicknames?  But we had so many scammers Late last year that I had to I just admin that everybody that would show up Like more than five or ten times. I was like, you're an admin.  You're an admin And then it just cleans up the uh, the chats really nicely instead of having like people going, you know Investor Janet Reno Is the best find her on telegram at blah blah. I'm like really Biggie Dan on twitter. That's me Beardy says don't sell until the bull run. Beardy is talking about his eos holdings And Hey, you want to six Robbie still DCing into eta. Yeah, I'm DCing into bitcoin ethereum avalanche near eta chain link Some other stuff I forget, but yeah, either every day or once a week And that's it Andrew's got a good point. See this is why I don't like to do q&a so much more like just the points and balance off them We don't need banks to custody bitcoin. We must do it ourselves. They manipulate the price to do with gold and that's a that's it They're holding paper bitcoin. This is the same problem. This is the same problem that happened ftx ftx was supposed to hold a billion dollars worth of bitcoin and then they figured out Once they you know figured out Insolvent And it was a scheme that they only bought like roughly a million dollars with a bitcoin And my question was this well if they would have kept buying bitcoin like they were supposed to with their customers money Where will we have been maybe that hundred thousand bitcoin price prediction I had would have actually worked Who knows but uh, I have no idea but yeah, you can have all the major banks and this deutschbank No, sorry not deutschbank credit suisse. Let's get those two confused. I don't know why They were doing some shady things anyhow They've had multiple reprimands and they've had multiple fines and spoofing of metals and things like that just like chase bank and You know I'm sure if they got into the game they would do whatever they need to do to to manipulate bitcoin and things like that So yeah, it's important that we hold it because we're the only ones that can say yes I have it. It's not just paper bitcoin. Which is irrelevant Uh meme says we're going mainstream. I have to agree I especially have to yesterday's video on this one today. I can see it Which the u.s. Government would get it We're not all george Please look on the epi cash not a security Dibs he says we've been in one depression next maybe who knows There's a very scary chart out there. Which takes a look at The only time that we have a retraction of money, which just happened Uh, we get a depression Great depression and that just happened like a month ago. So If you want to scare yourself, you can look at that Will europeans ever be able to retire I don't know. Well, there's a bunch of civil unrest going on in france right now on that very subject So hopefully at some point a low sin city You grow. I grow says Dan it takes a lot of guts to admit you were wrong. It could be wrong. That's why i'm here Sometimes but uh I've been doing it my entire life.  I'm not your dad. You guys can do what you want to that's right So Mira says we will go to that one currency cvdc I got to tell you I was very uh I was I was always under the impression that people are smart enough to to figure it out with cvdc's and like we wouldn't We wouldn't go that route and then with governor de santas coming out and having that press conference saying we don't want cvdc's and then Senator ted cruz from texas saying, you know, we need to eliminate cvdc's and not make them make them happen Even as all that happens. There's a great video from simon dixon and he just lays it out. He goes look They're inevitable and they're gonna happen and before you say well simon dixon is obviously A government shill. Well, he's not he's uh, he's a bitcoin og and has been on the channel many a time And he's just like look it's inevitable that it's going to happen And we just need to prepare for it and that's why we need to teach everybody as much as we can about the digital asset crypto space And about self custody. It's not so much about having your bitcoin and putting on a platform And getting yield off of it, right? We need to actually say no no no We need to custody that because that is mine And uh, we don't want to have fractional reserve banking and whatever you're doing with my bitcoin to dilute the the value of it And that's the big thing So, uh, I think that's why I'll be here for quite a while Ah, let's see Hello everybody We are losing our freedoms in the cvdc just another step It could be like the digital you want or it could be You know like like uh, jean carlo says that he thinks that we're gonna have a digital dollar and still remain private I think he is wrong, but uh, you know, hopefully But yeah, it's gonna happen Let's just accept that That's okay the cvds happen And and then we have that and all this is the great thing about cvdcs Is that it only takes one time It only takes one time for someone to get screwed over To where they're like, hey, I try to use my cvdcs and there's this, you know, whatever social score or They deem that I wasn't or I was if they said that I was uh An undesirable person and they and they shut off my account It only takes that one time For that to happen to somebody because that one person tells 10 And 10 tells 100 and 100 tells thousands And uh, that's where things just explode. Here's a prime example What happens the last two weeks when all the banks Collapsed not all the banks, but now we had a couple, you know, one bank collapsed Then we had uh silver gate signature and silicon valley bank and now we have swiss bank All those banks that are starting to collapse, which I think there's more on the horizon. What happened? Well, everybody started to talk, you know, it's great about the the internet age is that it just takes very One person to send a tweet or an instagram post or tiktok or whatever and then everybody Is like wow I can't leave my money in this bank Because they're not insured and who knows what's going to happen later I've had so many people call me Or text me and say hey, where should I put my my money because now I'm scared that I won't be able to get it back out I'm like, well, yeah so again Uh, it's it worked out pretty well with the banks I think this fraction reserve that they're you know doing a fraction reserve lending It's it can only last for so long in this digital age and then with the cbdc If it if it comes down to when they start to control people all they got to say is well I thought it was cool until it wasn't it's a good thing that's uh I know this guy named rob and he's got this show and he talks about the bitcoin where I can opt out Well, maybe I'll just do that It's inevitable It's an it's right right. I mean Am I off of that one just seems very it's quite simple anyhow Aristotle says rob I do my own research and get more and more confused about everything me too I must be honest You know like that article I talked about that that Forbes the top five banks in in the country They came out and silicon valley bank was like in top one How many people did do diligence On that article how many people did do diligence on ftx? How many people did do diligence on those banks? just investors and and You know people who who bought stock and those publicly traded companies. How many people did that? They didn't get it, right? so I think that What's the people who scare me are the people who are 100 sure themselves Those people scare the hell out of me because I'm like I don't think anybody should be like that I really do think that we should uh, there there should be some part of us It's like well, I don't know about that because that doesn't make either that doesn't make sense Or I don't know know the whole story an example would be like you can look at 30 different data points on one thing And then all of a sudden you look at this one data point that you know Totally invalidates Your your whole thesis how many times have you watched the history channel and that's happened to to people like that? So for me, I'm just like well, I don't know where things are going But I know if I stick around for the long haul I should be okay and I try to pick The best products I possibly can I'm going to get things wrong But that's okay because I don't have to have 20 winners I just have to have one or two that skyrocket same thing with the internet age You didn't have to have So what if you screwed up on pets.com and aol?  Yeah, it worked out. Okay Okay Hey rob when flappy launch set a twitter website. We're going with that right now We already have the web 2 developed the game is ready to go. We're just we're just waiting for apple to give us the approval that's the easy part and the web 3 is 80% done so We're trying to get it out in may Then may be june so everything's there, but It's going to be different How we do it? It's not going to be heavy on tokens. It's going to be they're going to be nfts for power ups and then that But it's going to be a very simple game and we're going to have a product Before we do anything That's the secret Like a real secret Now it's a good question airdrop for subscribers Yeah, I probably should do that. It's a good one ah phx that's a great question fantastico So the question is what are those listed rules mean great question? so I made these during Right before right around the time of the celsius collapse And I really started to harp on them and they're doing right before the voyager collapse And there's five rules And most of you know this so you can just tune this out.  That's your mentality you should have So what does that mean?  That's ridiculous Maybe five bucks 10 bucks. I don't know but it's all gone. Don't invest money before to lose Everything's a scam until prim otherwise even if you're here for me. It's probably a scam Just say it's a scam until prim otherwise verify. Don't trust Nothing gets left on exchanges zero So you can buy and sit them around there and I know there's different places where people who are traders who want to You know have their their their fill orders Uh Put in That's fine But the best way nothing on exchanges put them on your cold storage device. You can use the exchanges, right? But just pull them off no leverage I am sick of hearing about the people who use 50 to 100x leverage and don't make it tired. I get that's those emails weekly um There's a caveat to that too if you want to use like a two or three x Leverage you have at it. Not your dad But for me, I don't use leverage because I think it's a little risky Especially at 50 x you might as well just you're playing with fire the last one take profits meaning nobody everyone broke taking profits I'm pretty sure that in the last Bull run I'm pretty sure everybody here thought that they could probably take a little more profits during that time That's really it. That's my rules Mike Bennett everybody's always wrong Yeah Martin L says isn't ai just going to disrupt all this? Ah, maybe I think I think simon dixon said it. He said you we're going to have an ai Algorithm or artificial intelligence, which will dictate what and how much of the cbdcs are actually put out and who gets what? At the right flow at the right time scary, right So AI to disrupt this Maybe it'll come with a better idea Who knows? um Do you think tether will collapse eventually? I I've had my fears on tether for quite some time, but again wrong because Which one Of the stable coins lost their pig so far luna usdc I want to say b usdc a little bit tether nope So I'm not saying to put everything in tether. I'm just saying just give me a little history that tether is so far so good Oh, excellent.  I will definitely do that Black knight got it Two eos should cover retirement. Yep RS is one elastic golden grabbers look great. Uh, that game is That you can you can get an early rush and or get an early alpha and play it but I believe they're putting the public Game out in august or september things change a change a little bit over there, but they did pretty good They had a great launch and I wish them the best Let's see Guy is a doomer. He was great though. I think guy guy's pretty upbeat quite honestly, I mean he's just kind of like But you got to understand, you know like guy Guy was in the uk and he saw I mean the the crushing Inflation that's going on over there and he's got family over there still So I think it's a bit more difficult like here like in the states like we don't see it as bad like I just I'm like, well the eggs are the eggs are priced pretty good. So Inflation not too bad like here in Puerto Rico, you know prices are always high and gas for the leaders actually down So I'm like that's pretty good But uh, no a guy I think guy's middle of the road pretty even keel keel and I think uh, I know people will say well ben's the biggest doomer out there and he's just uh, mister you know poor potty and Hates everything like no trust me kind of scenes ben's like yeah, we're gonna go pretty far Just don't think it's gonna happen the next six months and I got to agree with him Do you think with nasdaq and german bank that crypto could have An early start of a bull run I think what it would be I think that would be a nice kickoff But I think what would really happen is if uh, we start to see I hate to say this but more bank failures Which will give more attention to alternative investments such as Bitcoin and digital assets mostly bitcoin though because that's what people kind of feel it is it is for and then I gotta tell you we might have a little mini bull run and for the next fomc meeting if Drone Powell doesn't If he just says okay, no no rate hikes This time around we see that we could see a little bit of a bounce, but I don't know about a bull run bull run. There's too many There's too many factors out there that Inflation is too high people are still concerned about that and uh, we'll see but again, you know, it's The economy doesn't bounce back first. It's it's equities that bounce back first then the economy follows There you go. I'm barely doing a joint stream one day. Now that Would be good. We call it We call it eos brothers And then we would just talk about eos for like two hours straight eos won't make the next bone.  You think crypto IRAs that are using coinbase are in trouble Due to the sec's attack on coinbase. We talked about this in depth yesterday about what the sec might be looking at and again, we went back with Simon Dixon and he pretty much said he's like look He goes both sides are not telling the full story coinbase isn't telling the full story and he does the sec And he talked about how the different license that they have and how they're supposed to onboard their customers are supposed to be done and how they're actually doing it and uh, you know How also the sec is not approving anything And how they are actually sending a little bit of guidance, but they're not approving squat So he goes everybody's not telling the full truth So that's why I said we have to go to war with them in the legal Process and they have to be sued and I'm glad That this well knows got served to coinbase and now we can get this all figured out I don't like to drag things out And I got to tell you if the fed would have you know, just come out and on fire earlier And raised raise rates higher quicker. We wouldn't be in this mess right now But like, okay. Well, that sucked, you know, three months ago four months ago And we're kind of in the low, but you know, we're recovering now.  I'd like to see that Watto Enjoy your videos. My question is a content creator. How do you manage viewer retention? Probably the toughest part right there is When you're trying to get people to stick around It's um, well, there's two things first of all, you have to find, you know How you do things and how your voice is because I don't sound like Altcoin daily and altcoin daily doesn't sound like hashoshi and You know vice versa and ben Isn't selling any of us So like in this one, you just have to find the way that you do things And then try to make it as interesting as possible And I always try to condense it as as much as I can before I was doing like like this is a long video because we're doing q&a I try to keep things short and sweet as best I can give my opinions and get out That's the best I could tell you Let's see Don't bank in trouble Sorry, it was uh credit suites. Excuse me Rob, do you think a will take over crypto for human's chance to realize what's happening? No, I think a will take over other industries before then and um I'm just more concerned about uh, these deep fake videos. I mean how easy would it be for them to do uh president solensky to come out and say hey Russia we're sorry and we surrender And everybody lay their their weapons down and it looks just like solensky sounds just like solensky and everything else I would call some problems Why buy bitcoin at 27k when you can wait and buy at a million that's true Danny's got a good point. There's an old adage selling may and go away learned it from you Rob I gotta tell you if this recession comes in when people think it is It'll be the most accurate time I've ever heard of it because everybody kinds of is trying to is saying that this recession is going to kick off brutally in q3 so You know looking at end of june and uh early july that's the truth then selling a may would have been pretty great deal I personally I probably won't well, we'll see actually you can't say anything. I'm just gonna look at some data Here all you think Alaska will do the state or the game The state I think does fine. Uh, the game itself probably do pretty well It's got great graphics and the people really believe in the project Let's see and I think we're coming up on it That's a great question. It's a great question. What will the bank do that exchanges won't? You know what they'll do that exchanges won't do name recognition Here's it. Here's here's what we have You can go to an exchange right now and buy crypto Because we've done that before there's no problems Now talk to the normies the people who've never done it and they say I want to I might want to buy some crypto Okay, we want to go in exchange now Because I heard about ftx and what happened there. I don't want to do that Or I heard about uh, this thing called block 5 or celcius or voyager. So I don't want to lose all my my crypto I want to I'd like to get in some way. Okay. Well, also will as far go is offering this to you and chase bank JP morgan Fidelity whatever. Oh, I don't know. I don't but they're not ftx. Are they I trust them That's the only thing they can do different it's name recognition and trust And if you can do that then you can get a lot of people going. Well, okay, all these guys have my They they've charged me over draft fees for so long. I trust them That's the mentality man I know so that's it Yeah, brandon mack tomorrow's got a good one say screw up. Say screw up. Don't be an spf and say sorry I messed up And I bought a nice condo here in the caribbean for my parents So thank you Have you heard of vulcan blockchain yet? I've heard of it Not really sure. I haven't gotten any of it though It's a great. So what's your thoughts on peter teal selling his crypto on bitcoin? You understand and this is a great thing There was a story we covered about a month and a half ago And when peter teal was talking at bitcoin miami, he was talking about how great bitcoin is and how it's the future And how he really believes in it and just three weeks or a month beforehand his Investing company sold. I don't want to know what's all or most most are all of it It was a pretty good trade actually for that time frame And if you pin down peter teal and ask him, hey, I thought you said that you believe in it He's like, why believe in it? But it was just overheated and I sold it So that's what you got to understand. So all the people that you listen to out there and the crypto verse That they say I believe in it and it's going to be the greatest thing In the back of your mind, you should be thinking how much did you sell and how much are you dumping on me? Just remember that peter teal and who knows how many other ones that are out there And the only reason we know peter teal did it It's because I think it was a public and traded company, but I could be wrong on that one. But yeah, sold a bunch of it almost all of it It's not surprising to me. It's just I've been here for so long. I just like well makes sense Hey rob, what do you think about other m2 move to earn products like without sweat for example steppin And fit fi Well, I have steppin. I actually have it on my phone There's that one and then there's a satoshi miles or called smiles And uh, that is a free app That you use it you download it you walk and it gives you satoshis pretty cool, right? But uh, just know I don't know if they sell your data. I can't tell you for sure if they do or don't they're probably say they don't but Um, just like how when you came into youtube you probably saw an ad you'll see some ads and they'll sell you some stuff and That's it. But it's pretty good trade-off just to stick on your phone walk around and get satoshis I mean I walk all day long Meme says in my opinion. There is a silver lining after cbd. Here's our reality People will be more comfortable with bitcoin and crypto. That's a good. I never thought of that way. Yeah, it's true You know what would be interesting and I think that's true because people Like they're not really used to having wallets on their phone per se But they're used to like a venmo a cash app and a paypal so When they can kind of look at this and go well, that's my whole thing and I can push it this way that way When they take a look at cbd sees and they move things around Maybe it won't be such of a big deal when they have You know hot wallets like a metamask Or something else.   That's how I see it ACA bloomberg Beardy gives the thumbs up My life is complete I cannot type No, that was fine Gary says pretty new to staking. What's the rule of thumb when collecting your rewards daily weekly monthly yearly? What's the norm in europe? so It depends on the product like for me um So it pretty much just comes automatically. I know like with uh with the cardano stake pool again shameless plug link in the description Like we don't touch anything this the the stake pool operators don't do anything. It's It's all done behind the scenes and you get it into your wallet. Whether that be deadless or yoroi or ate a light or Uh nami or whatever you want to do every five days you get you get those rewards near protocols pretty much the same thing It's kind of gives you an automatically polka dots You know, I don't think you collect those and you just put in but some you actually have to go in like with ginsukishi You put them in you're staking and it adds up and then you get it. I just whenever I can remember honestly Uh and just go from there Yeah, well she's social classes goes away and everyone can look each other the same that would be nice I'll see Uh ledger is the best That's what I'm gonna get Mmm, I miss anything 100 100 x made 10 bucks. So uh, thank you It's a good question Charles says for someone seniors at issues with using ledger how save runs save other wall such as exodus exodus Is that uh, if it's a hot wallet first of all charles go to the there's a website Dan teaches crypto 100 free and I talk about the difference between a cold storage wallet and a and a hot wallet exodus I thought was a Was a hot wallet because you're connected to the internet. I could be wrong correct me in there But anytime you have a hot wallet it's a little bit more Dangerous, I guess you could say than a cold storage where you have Nothing connected to the internet where it's uh, very hot. It's a Poss not possible. I'm sure everything's possible very tough to to to hack so exodus This is how I see it.  I had it So I talked about this card before Arculus right And it's kind of like like like a hybrid between a cold and a hot storage wallet I have my metamask wallet in here and I also have My nano ledger and I got all this stuff right here So it's just like a bank, right? Would you walk around with?  Protected and maybe keep like 20 bucks or so In your wallet That's how I see see both of these things. I think that's that that's the best way to look at it How do I convince my girlfriend investing crypto eric? You don't you just Don't you you can talk talk to her about it but uh You know At some point she'll she'll come away and the reason why I say that Is because I've had other people who have said my wife my girlfriend My husband is going to kill me because I told them to get into bitcoin at 69 thousand dollars Or a theorem at 5500 dollars or whatever it also was and like So for me, I just say look if you want to learn about it, that's cool I'm not going to push you and it's up to you because you know Just better that way It doesn't it's thoughts on a cbdc pegged to a 32 trillion dollar deficit America baby America we're going to increase that debt ceiling Don't you worry? That's the only time congress can actually get together and agree on something Yeah, guys are realists. I gotta agree And I hate gary genzler. I don't hate him. I just think he's uh Here's a plot twist Maybe gary genzler just wants to usher in Uh bitcoin this whole time Maybe he knew that coinbase would never sue him And the sec so he goes, you know what I got to push their hand because I want to make sure everybody gets bitcoin So I'm going to sue them And we'll eventually lose the case and I can usher in bitcoin behind the scenes Fade to black I know it's a pretty good idea, right Maybe not okay Uh renzo, this is a great question next administration will be crypto friendly. I think this is it. This will be the last one Um, yeah, I don't see the democrats winning this next election It is don't And we've already flipped that we I'm not a democrat or republican. I just kind of vote for the best person um The house has already been flipped. So, you know, it's it's uh republican controlled senate I think it's a narrow Is it still a narrow? Yeah, I think it's uh Let's see I think it's still 50 50 with the vp cutting the tie And then of course You know, you've got the president who is democrat. I don't I don't see them them winning so if they Get out then depends on who the next person comes in if uh trump runs again. He's not very He's not very crypto pro opponent of that we'll say that uh If you've got uh, something like the santhus sure, but some Some people hate the santhus And some people don't want to win. All right. Uh, but I think there's more people on the the republican side That are more pro-crypto than there are on the democratic side Uh, I think elizabeth warn is the Far left, uh For crypto we'll say So, yeah, if they just depends on who's in office I am Unlike this green screen back here Exactly Uh, matter of fact, I'll be traveling next week.  So expect a new green screen. What did I miss? I'm gonna give you the opportunity to watch it right now Everybody that's it for today. We've got 52 minutes. So look. Thanks for hanging out with me Almost 2 000 people just hanging around. That's great If uh, just need a favor like today's video thumbs up Just consider subscribing all that great stuff and that is it Also, if you're in the portorico area, uh tomorrow morning We'll be going to amigos de los animales to walk the shelter dogs at 8 in the morning It's a beautiful scenic walk and of course the shelter dogs get out And I always post about that on twitter and the address and everything else We go from 8 o'clock to around 9 9 30 and I buy everybody breakfast So if you want to stop by and do something good hang out with me for a bit great See you tomorrow morning 8 in the morning. If not, I'll see you for tomorrow's video But that's it for today. So thanks so much everybody. See you on the next one. Adios


The average 30 year old has lost 4.5 friends in the last few years. So let's find out if you're in a low maintenance friendship or if your friend just kind of sucks. If you haven't talked in months, but they send you memes or even this video, you're good. If you haven't talked in a year and then they missed your birthday party, they suck. If they text you on Thursday to take a rain check on a dinner plan for a Saturday, they're good. If they cancel 30 minutes after they were supposed to arrive, they suck. If they text you congratulating you on a big promotion and don't expect a response back, they're good.


A Biosystate governor, Senator Doye Deere, has advised his appointees to join him in priors for God's wisdom and direction to govern the state instead of spending money on congratulatory messages in the media or on celebration. In a statement issued by his Chief Press Secretary, Daniel Alabora, Governor Deere, who turned 62 on June 4, said that what he needed on his best day were priors to remain focused as the task ahead was enormous. He urged all his appointees to be patient and remain committed to delivering on their assignment as the time for celebration would come. Governor Deere explained that he was not against private individuals or corporate organizations. Congratulate him and the media, but that the state funds need not be channeled to such gestures. Fresh news updates


In the previous demo I introduced the basic permissions that are available in the Linux operating system that is we can indicate whether we have a file or a directory and then whether a user within some group or some other user has read, write or execute permissions and we can see those permissions in the first column of the output of the ls-l command I've created some users on my demo system here, a set of users and some files for those users so let's see what those different users can do and see how the permissions impact upon the capabilities of the users currently I'm logged in as S Gordon, that's my current user, indicated by the prompt here my current directory is slash home slash S Gordon and by default every user has a directory in their slash home directory so I've got some files here, in the CSS322 directory I can enter that directory because I'm the owner of that and I have execute permissions and I can look at files in that directory let's see what I can do in seeing other users' directories so I'll go into the slash home directory and ls and we see there are a set of other home directories for other users so this is some example users that have been created on the system and that's their home directories so from the user S Gordon's perspective we can see that I have permissions or the permissions given for each of the directories for Booneck, Instructor, Nappat and others depends upon what's given in the first column first let's see what groups I am part of who am I shows my user name, that's simple so I am user S Gordon more detailed information of who am I is using my identity if I run the command ID I can see that my user ID UID here is S Gordon in fact the user name is identified by a unique number so in fact S Gordon is really 1003 on the system user 1003 so that's the user, also I have a group ID my primary group and in this case my primary group is set up to be faculty or group 1007 but a user can be part of multiple groups so you have a primary group and additional groups so in this case I am set up to be part of the group CSS322 ITS413 and also as listed here my primary group is the faculty group so the user S Gordon is in three groups on the system to see that in a nicer format just run groups and you will see the set of groups that you, the current user as part of so let's clear actually we can go up and let's look and see from the permissions for these other users directories what I can access let's take for example this line for Dr. Tanarak's home directory so Tanarak is another user on the system we see that the owner of this directory is the user Tanarak and the group for this directory is faculty I know I am part of the faculty group so we saw that from the groups command that S Gordon is in the faculty group so let's look at the permissions that I have on the Tanarak directory we see here the first three characters indicate the permissions for the directory owner that is the user Tanarak the next three permissions indicate that for the users of the faculty group that is the users of the faculty group have no permissions on the Tanarak directory that is I cannot read, write or execute let's test that I will see if I can CD into that directory that is into Tanarak's home directory permission denied I don't have execute permission or the faculty users do not have execute permission on the Tanarak directory can I LS? No so I cannot see inside Dr. Tanarak's home directory even though I am a member of the faculty group the faculty group members do not have any permissions on that directory also other users do not have permissions on that directory so that means I cannot access his home directory what about other users? well we see I can access their directories the user Booneck I can CD into that directory we see although I am not part of the students group I am another user and we see for the directory here other users have read and execute permission so if I try and CD into that directory again and if I run LS I can see the contents of that directory so I can access this user's home directory and see files in that let's see what some other users can do I am going to switch users just for the demo I am going to log in as a different user one way to do that is to use the command su switch user and then specify the user's name so I am going to switch to the user Smith and just in this demo I actually know the password I have created these users and I know their password so I am going to log in as that user normally you need to know the password to access that user's account I will CD to the home directory now I am logged in as user Smith given by the user name given here I am in the home directory of user Mr Smith and who am I I am now logged in as Smith so let's see what Mr Smith can do in accessing other people's directories first what groups is Mr Smith part of he is part of the students group and the ITS413 group we are currently in slash home slash Smith there are no files in his home directory let's see if he can access his home directory yes why because if we see the s gordon directory owned by user s gordon group faculty Mr Smith is in the students and the ITS413 group so he is not within the faculty group he is not the user owner s gordon he is one of the other users so he can execute that directory that is they can see the contents of the directory and they can change into the directory that is execute so Mr Smith is currently in the directory of s gordon he can see the contents of the directory can he see the contents of file secrets well we look at the permissions the permissions for s gordon do not matter for Mr Smith he is not s gordon the group is faculty Mr Smith is not in the faculty group so from the perspective of the file secrets.txt Mr Smith is one of the other users and the permissions for other users is that there are no permissions that is they cannot read write or execute on that file let's test that can we show the output of secrets using cat no permissions denied can we as Mr Smith delete secrets using rm do you want to remove a right protected file let's try yes permission denied still that is we cannot delete the file so we cannot read the file we cannot delete the file can we modify the file if we open it in a text editor we see down the bottom that nano reports permission denied even if we change something and control x to try and save and say yes I cannot save it as that file so I'll cancel so Mr Smith doesn't have permissions to view edit or execute that file what else can we do Mr Smith in s Gordon's home directory we see another file called print message we see it's green why is it green because this file has execute permissions it's actually a program that we can execute and again we look at what other users can do because from the perspective of this file Mr Smith is another user he has read permissions and execute permissions how do we execute it we specify that we're in the current directory the file or the program name and I know that how this program works we supply some message and it should print the message on the screen so yes Mr Smith can execute the program print message you can also look at the contents of that file it's just a script in this case a very simple script it goes whatever we pass in as an input to the screen let's go back into our home directory and see what other users directories Mr Smith can access we see we can execute on the booneck directory so cd into that directory as Mr Smith and ls minus l see any files in there so Mr Smith can access boonecks directory you can see that the file exists can you see the contents of the file again as a reminder Mr Smith is a member of the group students the file myassignment.txt is owned by Mr Booneck and the group owner is students which Mr Smith is a member of for students group members there are no permissions so we cannot read the file permission denied so we can see the file name but we cannot see the contents of that file we can see the file name because the directory slash home slash booneck has read and execute permissions for the students users let's try another user I'll switch to a different user in this case tanyaton switch user tanyaton and I know her password but I typed it wrong I typed the wrong password that case I'll try again cd current directory is slash home slash tanyaton who am I so the user has changed let's see what she can access on the system let's go into the slash home directory and again try to access another user's directory let's see what we can access in s gordon's directory we can access as we see seen before so the user tanyaton can access s gordon's directory what groups is tanyaton in she's in the students group and it's 413 group can she access the directory css 322 try try to cd into css 322 as tanyaton and we find she cannot access because permission is denied because for that directory you need to be part of the css 322 group to read or execute them on the directory miss tanyaton's only members of the students and it's 413 group as shown by the output of the groups command so she cannot access the directory css 322 but she should be able to access the directory it's 413 because the group owner is group it's 413 which has read and execute permissions on that directory and miss tanyaton is a member of the ITS 413 group so let's try we can cd in and we can ls we can see the contents of we can see the list of files and directories in there and we can see the contents of the files because again we have read permissions for the members of the ITS 413 group which tanyaton is sub directory for students look at the permissions again the 4 students sub directory has permissions read write and execute rwx for the users in the ITS 413 group which tanyaton is that means of course we can execute and cd into that directory because we have write permissions on the directory that is the members of the ITS 413 group have write permissions on this 4 students directory it means that they can modify the contents of the directory let's try and create a file using nano open a file put some content in the file and save cdx save yes save as tanyaton.txt ls minus l so in sgordon's home directory within the ITS 413 slash 4 students sub directory a sub directory in sgordon's home because the permissions are for the group ITS 413 they can write to this directory anyone within that group can create and modify files in the directory so we see tanyaton just created a file called tanyaton.txt she is the owner of that file her default group is students and the default permissions created for that file show that others can read, group members can read and tanyaton can read and write the file so we can give other users permissions to other users directories let's try one more example let's go back to the home directory and we're currently logged in as Ms.Tanyaton and let's enter Mr.Napat's directory which we see student users have read, write and execute permissions as other users have just read and execute permissions tanyaton is a member of the students group so we can cd into the directory we see that there are two files in this directory with the file, the second file not so important.txt it's owned by Mr.Napat and the group owner is students recall we are logged in as tanyaton and her groups include the students group so she's a member of the group she has read and write permissions on this file means she can edit the file open it with nano it's got some text in it add some more text and let's save the file ctrl x, save changes yes same file name and just cat that file so tanyaton has changed that file which is owned by Mr.Napat she gets permissions to change the file because she's a member of the students group and members of the students group have write permissions on that file write permissions also means you can delete the file so as tanyaton will try and delete the file not so important.txt with rm and it's gone so even though the user Mr.Napat created the file another user had permission to delete the file what about the remaining file don't delete this.txt can tanyaton modify or delete that file let's see if we can open it in a text editor we opened the file with nano and nano reports an error saying we cannot read the file we have permission denied why? tanyaton although they are a member of the students group there are no permissions for the student group members to access that file they cannot read or modify the file can we delete the file as tanyaton yes or no gives us a warning do you really want to remove this write protected file let's try yes I want to delete it no problem the file is gone so tanyaton could not view the contents of the file but was able to delete the file why is that let's go back and check why the home directory for Mr.Napat owner Mr.Napat group owner students tanyaton was a member of students the permissions for students were rwx that is users part of the students group can have the right permission on the directory slash home slash napat right permission on the directory means that you can change the contents of that directory including creating files and deleting files so in this case tanyaton had the permission to delete files into Mr.Napat's directory even though she couldn't read those files so that demonstrates some different examples of how permissions can be used there are much more than what we've covered here there are some more complex attributes that you can give to permissions and it becomes complex and how you combine those nine different conditions three different types of users the user the group and the other users and the permissions of read write and execute try and explore to see what you can do on shared operating systems and accessing other people's files and how you can give other people access to your files


Camps for Wagner fighters being built in Belarus 200 kilometers from Ukraine. The building of camps for the placement of Wagner group fighters started in Belarus after agreements with the country's leader, Alexander Lukashenko, who negotiated with the Evgeny Prigozin the Wagner financier. Russian Vestka media outlet reported it. According to the media, the first camp for 8,000 people is being built in Asipovitchi, Molylev Oblast, located 200 kilometers from the border with Ukraine. According to the source of the media, the workers were tasked with building a camp with an area of 24,000 square meters very quickly. A source close to the regional authority confirmed that the administration has been instructed to build a camp for the Wagner group in the region. The Wagner fighters' families confirmed the information that the mercenaries will be sent to Belarus. One of the relatives referring to her acquaintance reported that units of the Wagner group which remained in Rostov-on-Don are being sent to Belarus. Another media source said that her husband, who was in Rostov, informed her about the departure to Belarus most likely but did not contact her again. Besides, Wagner group recruitment centers have reopened in at least two Russian cities – Tyumen and Novosibirsk, following the mutiny staged by Evgeny Prigozin.


Scotland's tax and welfare powers are changing. How does this affect the block grant? Scotland receives the majority of its funding in the form of a block grant from Her Majesty's Treasury. Annual changes to the block grant are calculated using the Barnett formula. Scotland has some tax-raising powers, the revenue of which stays in Scotland. These powers cover council tax, business rates, land and buildings transaction tax and landfill tax, worth £4.4 billion in total. Council tax and business rates are collected by local authorities in Scotland. LBTT previously stamped duty land tax and landfill tax were devolved in 2015 through the Scotland Act 2012. They used to be collected by HMRC with receipts going to the Treasury. Now they are collected by Revenue Scotland and money goes to the Scottish Government. All other taxes are collected by HMRC and receipts go to the Treasury. Under the Scotland Act 2012, the Scottish Rate of Income Tax, or SRIT, will be introduced in April 2016. It will be the single biggest devolved tax contributing almost half of the £8.6 billion a year raised by Scottish taxes. More taxes are set to be devolved under the Scotland Bill 2015-16. All of income tax on non-savings, non-dividend income, including the power to vary the rates and bans. Air passenger duty aggregates levy. The Bill also assigns 50% of Scottish VAT receipts to the Scottish Government. The devolution of income tax will replace SRIT. These taxes will raise more than £20 billion in a year. To find out more about Scotland's public finances and even set SRIT yourself, go to scottish.parliament.uk forward slash scottish-government-budget.


OK, should be enough at least to go with the background. So thank you everyone for joining today. Today, we have the last or fourth entry in our mini R and Insurance R consortium webinar series. I'll host it by George and myself. And today, I'm going to talk, well, I guess broadly speaking, about high performance programming in R. But I think I took a very small and very practical slice of that when it comes to how you can use the error package to manage parquet files and the data of increasing data sizes. On the background, as already mentioned, today we have our fourth entry. We started with how you can transition from Excel to R and how then continue on and how you can, I guess, move into a more production-ready version of R. Finally, also, how you can think about how to, well, if and how to get higher performance R. And as already mentioned today, that continues today with, I guess, focusing more on interacting with data over files as opposed to specific coding practices. Yeah, this feminist series, the first two entries were delivered by George Sparco Lucas or George, who is with us in the call today. And the letter to is or will be delivered by me, Benedict Schenberger, both from the actual control department from Swiss resource management. And they are very happy to be here today. Maybe as a very brief introduction that some of you may have heard already, I've been using R since my university days, mostly coming from our statistics or actual science backgrounds with lots of data analysis. And I've been happily using it ever since from university through my whole working career. That's also why I'm very happy to talk about it today in this forum. I'm also happy to hand it over to George for a quick introduction. Thank you very much, Benedict. Hello, everyone. This is George, heading the Motive Development Analysis team and the Atelier program. We are sponsored by a Group C factory, Phillip Long, to help other actors within Swissry to learn how to do programming for our day to day. I discovered R at the university in a couple of modules for statistics, but there we only had perfect data to work for. Forgot about it for eight years, and we rediscovered it about how it can help us solve day-to-day issues here we are today. A large community of actors within Swissry working through in a programmatic way on our daily data challenges. I'll hand it over to Benedict. Thank you. Yeah, thank you very much. And as also a reminder, last time also this time, the topic broadly relates to so-called experience study work that we do in insurance or reinsurance. We essentially write insurance contracts on a forward-looking basis, whether something is going to happen in the future and clearly after some time has passed, we check back on how these events that we thought would happen, did they actually happen or how did our insurance contracts perform compared to what we expected when we wrote them. That is the background for today's topic. Going to the actual content part. So I think it's probably no big secret that the data is generally increasing. I think here we have some historical estimated data and also projection from Sathisa that shows that we are probably going by now into close to 100 setabytes or a billion of terabytes per year of data being created. And that is a very general global trend or global issue, but I think that's also something that we very much see in the insurance space where some of the examples that we highlighted earlier may be very easy to do, even a spreadsheet or at least if you need to do something like 300,000 times that's well within the capabilities of, let's say a laptop still, but if some of the work that we're doing here had some experience study background that simply doesn't necessarily fit into a typical computer laptop anymore and maybe we need to think about some alternative ways of how we can wrangle or manage these kind of data sizes. And I think a very basic strategy with how you deal with increasing at least raw data is something that we also very much see in the let's say music or video space. We have so-called compression or lossless compression essentially instead of being going with the sort of naive way of writing everything out, think about some other ways of how we can represent data so we can save some space in DR or more general data science space. One of these ways of saving some of your hard drive won't potentially also memory from files called parquet. And yeah, there are also some split minds some may call it a pocket, some may call it parquet. Today I'm going to go with the parquet pronunciation which hopefully is good enough, but yeah, if you hear a pocket that could be equally valid. And with parquet, I think that's as I mentioned I think by now you could say quite an industry standard that is widely used across many database systems or also storage systems in the industry. So often it's also used in conjunction with other sort of software systems like Pablo once like Spark, also other sort of on-demand database like systems like Synapse or so on that are often using conjunction with these so-called parquet files that are used as the storage medium and as very briefly summarized, I think the idea is that parquet is a fast and efficient column of storage essentially saying it's the data stored by column. I think most are users should be quite familiar with if you think about a data frame where normally the data type or the data stored each column in a row. And that is also how you can think about parquet. Some of the tricks that parquet does in order to save some space I wanted to show here. I think it took some examples that are very generic. So these apply in many other spaces you may have heard about them but maybe it's your first time. It could be quite interesting to in particular one of them is run length encoding or RLE. If you think about the typical CSV files that you may have the name of a person for a million rows and it gets repeated a million times but instead of just repeating the name over and over again you could just save it down in a much more compact manner by saying, okay, so it's this name here Benedict and then as a second item you know it's down how often it is repeated in this case a million times. So you save quite a lot of storage instead of writing Benedict a million times you can just say, okay, so it's the name Benedict repeated a million times. A second trick is also relatively obvious and I think many may be employing it already or have been employed in the past is so-called dictionary encoding. So if you have some entry some string that is very long then instead of writing it out every time you can just map it or abbreviate it as an identification number or ID that normally should clearly depending on what string you have save quite a lot of time particularly if you repeated a few billion times. Finally, the maybe more interesting part about parquet is that it also has some so-called metadata or information about the data in the file and well, yes, one example of that. It's a particular parquet has so-called row groups. So instead of only having information about the data in a row by row basis it also while you're saving down the file calculate some additional aggregate metrics like for one group, which in this case are three rows but in reality are probably thousands or tens of thousands of rows depending on the exact configuration. It saves down what is like the minimum maximum value there. And then if you try to get data it uses those statistics in order to find which of these row groups could be skipped. So essentially only checking one statistic every thousand or so entries instead of having to check every single row whether data is appropriate. And I think the important part with these technologies or at least the background for this year's and how can you use it in practice? I think one of the reasons and what makes it particularly appealing use parquet files with R is that there's a very good infrastructure in place already. In particular, there's the so-called arrow package and arrow is a very broad project that is also supported for many other programming languages like Python, Julia and so on. And if you use the R package version of that essentially makes the very easy drop-in replacement for what you may have been doing with the more straightforward CSV or commons separated values files. You're looking at a simple comparison to assuming that currently you are reading your files as CSV files with data.table which is already a relatively or quite optimized way of reading CSV files. You may have some code like this. So my data is just data.tablefread and then you point it at the file. Now if you wanted to achieve the same with arrow you can have a more or less one by one replacement instead of using the data.tablefread use the arrow read parquet and then you point it at your parquet file which probably has some different file ending like dot parquet of dot CSV and writing data is quite the same. So instead of f write, fast write you can just use write parquet and you have essentially at least my eyes quite similarly easy workflow. Then the question is clearly if you make these sort of drop-in replacements what can you actually expect out of it? You're coming back to our sort of mini case study or the sort of illustration that we are using assuming that you have some relatively large data set and you want to do some summarizing information. In this case, we have again some information about our business and maybe you want to filter it on a specific year 2019 here and then summarize what kind of the code exposure. So what do we expect? How much we could have to pay out? Aggregated over certain benefits or lines of business or certain age groups or regions and so on. If you do it with the player it may look something like this. If you combine sort of the guess power on the expressive fit on the nice expressions of the player with parquet or an arrow and it could look something like the right-hand side of using the appraisal dimension of read you can in this case even more advanced version use an open data set and then if you do the exactly same operation of summarizing you just add a collect statement at the end which is essentially what's then fires off the calculation or which actually makes error to the aggregation that you ask it to do. And I think here we also had a question last time about larger than memory file sizes. So the left-hand sides assumes that you have enough memory available that you can actually read the entire CSV files into memory and then aggregated from there. Because on the right-hand side it's possible that this parquet or partition parquet file is bigger or would be bigger in your memory than what you have available. But there's some smart logic applied to these operations that you kick off with the collect call that try their best to fit into the memory you have available even if the whole raw data would not be, well, would be too large. In numbers, some of the results we saw in one of the examples we looked at though as alluded to or noted down at the top and the bottom left here we looked at some particular data sets relating to a particular type of business or called 3T and we had like 25 or so million rows and 50 or so columns. And let's say just under 10 gigabytes of CSV file associated with that or simple things. So already mentioned the basic CSV file gets quite a bit smaller roughly to a fifth in this example. That's nice saving if you have a lot of these 3Ts or probably even larger data sizes that can be quite significant how much you can save on hard drive space or storing your files. But from a sort of performance or our perspective maybe the more interesting metrics are how much time can you save if you're actually trying to do something with them. So with the example code that I showed previously so if you do just some generic reading if you do it with the FREED and CSV maybe you take 50 seconds in this example and you can make it to a 10th with using the read parquet instead. And if you use this special memory mapping or larger than memory versions of it as also shown in the previous the and you can even save more time here because it doesn't try to read the whole data into your memory, but only some information about it. Saving you like here more close to a minute of time to just in reading that file. And I think the other interesting opportunity here is that if you're not only interested in if you're like, oh, I read my file into memory and I write it back down once I'm done but also do some typical what I call it grouping or aggregation transformations like I showed in the previous slide then here then even with your already have all the data in your memory and you just want to do some deploy aggregation you can save quite a bit of time if you use the opportunities of error of optimizing these operations before they're all in memory. And yeah, in this case it very much depends on your data and what kind of aggregation you do but you can easily save like attempt or in the most optimal cases 100 of the time if you are smart about how you manage your data and what you want to do with it. These examples, I guess coming back to the main parts of what I would you today say, I think as mentioned that's a pocket or particularly the air packages are quite valuable tools and your tool sets or toolbox if you are working with far and I think particularly for kids also quite important to know that it's a very popular standard across the industry and I think those who used a lot in what is brought to call the data science space which I think the actual professions or insurance professionals often describes themselves to be in as well. And other than that also you can normally expect that you can save some time be it just on the reading and writing files but you can also have even more optimization there when it comes to maybe the file sizes are so large that they wouldn't fit into your memory anymore or you're just smart about maybe your group or your partition your file by some year and if you only want to have one year's data then it can be much faster to look up or to read but finally also I guess a word of caution. I believe the first two entries that we had in the webinar series by George they showed, let's say very typical very important workflows of moving from Excel to R or how essentially R and Excel can live together. One challenge with Parquet is that it's not to my current knowledge well supported by Excel. So it may not be the ideal solution if you have other colleagues you're working with that's still very much Excel based or you have very meaningful parts of your workflow that are in Excel though at the same time I believe if you're thinking of tens of gigabytes of data then it's very unlikely that you are going to start with an Excel spreadsheet anyway but maybe use it at the very end if you have some very aggregated form of them or presentation. Thank you very much for your attention. I believe we would also or we can start with a Q and A soon. I believe Zoom has some Q and A feature where you can write your questions and while you're thinking about them and maybe writing them up I also would like to use some time to talk about the R consortium. So three has joined the consortium a while ago. Now I don't quite remember how long ago it's been a while and in particular it gives us the opportunity to do events like today to speak to you to show the kind of work that we as an insurance or reinsurance company do in the R space but it also gives us the opportunity to support the general R community more broadly with I think it's the many other events that are shown here like R Ladies or USR and Latin R and so on the many different ways about how R or the R consortium can support the global R community. So I think we are very happy with being part of it and that's also something that you can consider by sending off an email to Joseph like shown on the right with that. I'll see whether we already have some questions. Okay, we have a nice or a very relevant question from Aaron. Let me just quickly go back to this slide for that. Do Aaron asks, living in an axle-dominated world, are there easy ways to convert in and out of parquet? How do you approach this issue? Yeah, I think that's a very good and very relevant question. For me, the good thing is that with these examples on the slide is that clearly you can mix and match them as much as you want. So imagine that you maybe started a very large file size and therefore have chosen to do large parts of your work in parquet until it gets down to a manageable size again and you want to expose it to Excel, SCV, let's say. So clearly after the data size is small enough, you still have the opportunities to mix and match here. So for example, you can just use data table F right to write down the data that you have in memory back in the SCV file, which then happily can be picked up by Excel directly or on a pivot table as a source data or depending on kind of what infrastructure you have available to you, clearly you can also save or write it down straight into some database kind of system instead that is then accessible from Excel. So clearly if you manage to have the data as a size that fits into your memory again, and it's not even necessarily, you can also chunk SCVs, but generally speaking, clearly you can easily change between the parquet and SCV format if you're working on. Okay, we have another question from Jill. Was provided with a 15 gigabytes SCV file recently for stealing if it using reader SCV chunked. So today's material opens a new world for me. Good to hear. I think there was also very much the background of what we found ourselves. The to a standard right that's asking my data team to write a parquet file would be a standard request. Generally speaking, I would expect so. I mean clearly the world is very diverse and I don't quite know what company you're working in and what the IT infrastructure may look like, but at least speaking from my own background and what I've seen many companies in the area do is that, yeah. So if already five years ago I had talked to someone in my IT team and asked, oh, can I have this data as parquet? It would have understood that request and probably or surely been able to fulfill it to give me a parquet file instead of SCV. I would hope that you make the same experience and to the best of my knowledge it's depending what infrastructure you're working with. Let's say large cloud providers like Microsoft Azure or Amazon AWS and so on. They definitely have very standardized parquet offerings. So if you're working with them then that should be possible, yeah. So I think Jill give a quick backup, well reply. So that doesn't seem to be a new question, but good that it helps. Can I ask a question, Belendick? The open table function in which package does it belong? Apologies, open table, you mean the open data set from? Yeah, open data set, yes. That's from parquet, right? Yeah, that's from the Aero package. From Aero, yes. Yeah, thank you very much. That's also a very good clarification point. So yeah, on the left hand I'm reusing function from the previous slide on the right hand. It was to use some Aero technology or the Aero technology. So some function from the Aero package. I guess Aero technology sounds a bit too much for something that is a function call in at least from our perspective at the end of the day. And I think when you describe the right hand side you seem to have chosen your words quite carefully about how much is transferred to the local environment that you have versus what was in the original data set. Are we saying that this filtering and summarizing happens somewhere in the middle? Where does it exactly happen? So essentially, we have the data stored on a hard disk. The hard disk doesn't do calculations. But then what you collect is a summarized version. So where was this summarizing and filtering is done? And whose computer is this done? Yeah, that's also a very good question. Maybe starting with a very simplified example. So if you imagine we had this same 10 gigabytes of CSV, let's say, and we have one gigabyte for each of one of the years. Do you, you could, one way of partitioning the data is that for each year or calendar year here you have like one, what essentially becomes a folder in your partitioned parquet folders or subfolder of it. And then if you just execute the first two lines and say, okay, give me this data sets, give me only the data for year 2019, then the metadata, it's the error packages smart enough to say, okay, so nine out of these 10 subfolders do not apply. So I don't need to check those nine gigabytes of data. I only need to check this one gigabyte of data and assuming you wanted to load it fully into memory at the same size for simplicity, then yeah, you would have only had to use one gigabyte of memory instead of 10. As you would on the left-hand side where you first gets all of the 10 gigabytes and then throw nine of them away again. But isn't it true that this filtering and summarizing you know, on the server side, say also happens even if you just have a single parquet file and not a partitioned parquet folder or it always has to be partitioned in order to be able to utilize this filtering and summarizing from. So yeah, I think that's also a very good question. So these optimizations also exist on the row group level. I guess that's one of the concepts that I briefly alluded to on the previous slide. So there is some madness and skipping over rows also on a single file basis. I guess I took the partition version as a particular sort of easy one where it's quite straightforward because with row groups and it depends on how you sort your dates and so on so it can be quite difficult to know what actually happens in practice. Thank you. I'll stop here so other people can ask because I can also access you offline. Yeah, thank you very much. We got another few questions coming, one from James. What are the advantages of storing data and parquet files or storing in a SQL table? That is also a very good question. Typically the main difference is that, or to my understanding a guiding principle is that just storing the data parquet files is comparatively cheap because the only thing you really need is a hard drive which often you can buy at very reasonable prices from cloud providers and then the time that it sort of costs you more money is if you actually try to process the files again like reading into your R session from some computer or laptop and so on. So there you can utilize the sort of computer you probably have already paid for in the form of your laptop or maybe some virtual machine you're probably using for other purposes whereas typically for a SQL table, again there are many kinds of SQL but the most typical ones you probably have a dedicated database server somewhere that needs to be running 24-7 and that combines the sort of being able to process data and storing it into one. So the SQL database will also store the data in some binary format. And then if you query it, give it back to you via some smart way, hopefully. However, yeah, you need to have that SQL database system installed in some server in order to be able to give you the data which can be inconvenient in many cases where maybe you just want to benefit from the cheap storing on hard drives and are happy to use your existing computer infrastructure for reading. But clearly at the same time SQL servers or relational databases can give you other advantages so it's definitely a trade-off. Okay, we got another question from Rob. Once the data is read into memory from a Parquet file is the data stored in the way structure within the data frame? So with the example that I had shown here with read Parquet, do you actually have two options? I don't think I show them off here but the default option is that it essentially reads it as a table into memory which is then more or less identical to a data frame with the appropriate data types. There's also the option to read it as a so-called error table, capital T table which is a specific error data structure which has sort of different characteristics from typical data frames. So there are some more detailed options that are available to you but let's say the default is just a regular data frame. Yeah, got another question from hopefully correctly pronounced key one, how do the are native data formats, are data RDS compared to Bacchio C3 files? Is there a reason to avoid them? That's also a very good question. So broadly speaking, RDS is, or okay, so you're more starting from even further way. So as you already say, like these are native data formats like RDS and Rdata are very much geared towards R. So essentially you need R itself in order to read back the data into an appropriate format like this examples data frame but you can also use these Rdata or RDS binary so-called binary specific formats to save down like models, let's say, or any other kind of objects or variables that you may have in your R session. So from our perspective, they're very flexible or ever that's then clearly comes at the cost of interoperability. So while R itself may be quite good at understanding RDS files, other systems or maybe some colleagues you're working with may not be as happy about it. So let's say a typical workflow that you can see or that often also happens similar to, I think what another person asked previously with being given a CSV file. So nowadays it could be that you're giving a parquet file because it's well supported by many different programming languages or technologies. So give them a parquet file, someone with Python can read it, someone with R can read it, someone with Julia can read it, some with C++ and so on and so forth. Yes, with an RDS file that may not be as easy. I would see the strong preference for CSV and parquet while being able to use many different tools for it. Other than that, from a sort of pure compression basis so how much read speed and so on, RDS can be good from compressing, but for like the example I show here with the optimizing aggregation so on, that's clearly something that RDS could not do and you would always assume that you need to read all the data back into memory so you wouldn't have those optimized aggregations or a larger than memory file advantages there, which you clearly, in most cases, don't have a CSV either, but yeah, as an example, seems like that was all the questions we had for now and so as I'm aware, we are probably also going over time. So thank you everyone for joining today. Hope that's, well, this particular webinar and also the other entries in the series were helpful to you. Also give a minute or a second to George to make any comments if he has some from his earlier series or entries. No particular comments. We hope to find a way to share most of the material we have from the webinars in a way that can be useful to you and thank you very much for attending and thank you very much, Benedictine, for co-presenting and Elenia for her support. My pleasure. My pleasure as well. Thank you all. Thank you very much. Thank you. Bye.


I'm responsible for the success of the School of Computer Science at Carnegie Mellon where we happen to be a place which has more than 500 faculty and students earnestly working towards making AI real and useful. And one of the things which has swept through the whole college over the last 18 months really has changed a lot of people's direction is the question of AI safety. Not just it's important, but what can we practically do about it? And as we've been looking at it, the problem turns into two parts which I want to talk about. Policy where we need people, the folks in this room to do work together, and then verification which is the responsibility of we engineers to actually show the systems we're building are safe. We've been building autonomous vehicles for about 25 years, and now that the technology has become adopted much more broadly and is on the brink of being deployed, our earnest faculty who've been looking at it are now really interested in questions like, a car suddenly realizes an emergency, an animal has just jumped out of it, there's going to be a crash in one second from now, human nervous system can't deal with that fast enough, what should the car do? We're really excited because we're writing code which is in general going to save a lot of lives, but there's a point in the code and a faculty identified these points where they're having to put in some magic numbers. For example, if you're going to hit an animal, should you go straight through it, almost certainly killing it, but maybe only a one in a million chance of hurting the driver, or should you swerve, as most of us humans do right now, swerve very well so that perhaps you've only got a one in a hundred thousand chance of hurting the driver and probably save the animal. Someone has to write that number, how many animals is one human life worth? Is it a thousand, a million or a billion? We have to get that from you the rest of the world, we cannot be allowed to write it ourselves. This is really important. Two of our other faculty have pushed on understanding the potential movements of dozens of pedestrians and vehicles at busy intersections so that they can pull the kill switch if someone's about to potentially have a serious injury. That goes off all the time, it will be unacceptable. If it goes off never, then we won't be saving lives. Someone's got to put in the number. So that's policy and that's my real urgency here is asking for help to make sure that we all get this policy in place so we can start saving lives. After policy it gets back to being on us, the engineers, to do verification and this is an area of AI which is exploding because it's so important. In the old days when you had non-autonomous systems like regular cars, you had to test crash them in maybe 50 different tests using about eight cars each. Now with an autonomous system which has got this combinatorial space of possible lives it could live, the testing problem seems impossible. And some of the faculty have really been looking at the question for example in helping the army test out autonomous convoys to travel through Iraq. There's a new kind of computer science available for helping almost like solving a game of mastermind quickly figuring out the vulnerabilities, the area where the autonomous system is in most danger. Now interestingly, academically, these testing-based people are absolutely at war with another group of people exemplified by Andre Platzer who used formal proof methods. They say if you're going to deploy an autonomous system it must come with a mathematical proof of safety. His system of proving for example recently showed that the new air collision avoidance system when he tried to prove that it was safe, the proof failed and they discovered some cases where it was actually going to be a disaster. So now the system is being updated. That's the whole story, policy and verification. I want to finish up by talking about four groups of stakeholders and my question and message going out here. Policymakers, we need your help. Most AI labs around the world want you to come visit us, spend time with the scientists who want to express to you the trade-offs they're worried about. If you're a company executive right now and one of your division says we've got a new autonomous system we want to field, you have to ask them what they're doing about testing because they cannot be using 1980s testing technology. We scientists and engineers, we have to take this really seriously or we will be closed down and that is tragic because we're doing this because we think we can save tens of millions of lives over the next few years. Finally, for entrepreneurs, the service industry of testing autonomous systems is a huge growth potential. I very much encourage it. Thank you.