Hello and welcome to episode 102 of the Market Maker podcast and Piers, I can see you're joining me from a different location. It's either Shoreditch in London or New York City. Where are you? New York City, baby. Yeah, landed. Well, landed yesterday. Yeah, in the Big Apple. Is this business or pleasure? Business. Yeah, a couple of a couple of big things going on actually just so kind of big big event and running for Citadel. Tomorrow, well tonight and tomorrow, a bit of a networking session tonight. There's 130 students that they've sort of selected from universities all over the US. And they're coming up to New York and a bit of an event tonight and then yeah we were taking them through our market making and quant trading simulation tomorrow so yeah. And then I got a bit of time for Sunday I got working Saturday but Sunday free but the next week I've got a big Morgan Stanley simulation going on on Tuesday. Yeah, so hitting some some big clients, but then you know sightseeing on Sunday maybe a little strong my home just around the corner from Central Park. Actually just a couple of blocks away. So, yeah, get the tourist action in somewhere. Okay, well, you know, when I'm in the Midlands next week. You know, not downplaying the quality of the Midlands in the UK but yeah, we should. Yeah, that's true actually I get New York you get Birmingham. Yeah, nothing wrong with that. So on the agenda for this week then want to talk about a couple things going to blend a bit of a single stock story and a bit of education around how some financial institutions structurally a different from others because I know that's important, particularly for students who are applying to these firms to understand that unique difference between investment banks. So not even going as far as what's the difference between sell side by side what is the actual difference between investment banks themselves, like, Goldman's to JP to MS and others. So we'll touch a little bit on that, and then we'll talk macro because this week we've had us q for second reading of GDP, we've had the Fed's preferred inflation figures PCE. And we've also had the latest FMC minutes. So want to get your take on those events and see whether or not that's shifted the view on markets at all going forward. So, starting off, JP Morgan, they could have exclusive access to the VIP club, the $1 trillion club, which is normally reserved only for tech, big tech people, tech firms. And that $1 trillion club at the moment, it's, well, Apple, Google, Microsoft, Tesla briefly didn't they, I think they flirted with it and then obviously got chopped back. What about Facebook they're not are they in it anymore. They've also been hammered over the last sort of 12 months, but so the idea here is then that JP Morgan could become part of that club. And, you know, from a very top level perspective kind of make sense with tech, or perhaps you could explain that why are the tech valuations so wildly different to a bank, for example, from a sector equity perspective. But one word growth, or I should say maybe two words growth potential. Right.   And so that that rap more rapid growth rate is why you get high evaluations because you're seeing some of that future growth being priced into the market cap today. And then being cut back because interest rates are rising. Exactly. So, you know, 2022 was definitely the interest rate sensitive sectors. So, and certainly tech are right up there top probably top of that list. They've been hurt the most in terms of their share prices dropping in 2022 as chef as interest rates have risen and yeah one. That was about that future growth right being embedded in today's share price. Well the value of that future growth has been discounted because of inflation and higher interest rates. And so, if you like, the value of that future money is dropped is now less valuable today. And that's why share prices come down and in those interest rate sensitive stocks. Before I talk about the one trillion I must put the caveat on. They are expecting that to potentially happen. Quite a way off. I think it was 2030 actually where they think that jp could hit that milestone I think their current market caps something like the 400 billion 411. Okay. Yeah, so around that kind of level gives you an idea. Yeah. Go ahead. This is like, so this was a headline earlier in the week. Right. And like all good headlines. They get attention and they get clicked on. And this was in true classic sort of equity research style. You know, as a person, if you're an equity research analyst. Then, you know, you want to become known, right.  This actually came from a Morgan Stanley, ironically, came from a Morgan Stanley equity analyst, who came out with this piece that they obviously cover the banking sector us big US large cap. Financial sector is grass at that's the name of this Morgan Stanley equity research analyst Betsy grass at. And so she put this piece out and it had the headline. Yeah, JP Morgan, to whatever I'm the exact headline but to join the $1 trillion Club. Yeah, when you when you kind of delve into it. It's, it's, she's very bullish obviously 411 billion is the market cap today. And so she's saying it's going to more than double but yeah her caveat is not until 2030. It's about seven years to go. She should she does say, well actually no sorry, she said actually her central theme apologies was that it would reach a trillion bucks in 12 years time. But then her range is the earliest it might happen is by 2030 base cases 12 years so 2035 I mean that's a hell of a long time. And so to make predictions that are 12 years into the future are. Yeah, not sure there's too much merit that should be placed on this kind of ultra long term forecasting, but her key central theme, as opposed to those tech stocks which are interest rate sensitive. The banking sector that's the exact opposite. So banks are one of the few sort of companies that actually benefit from interest rates going up. And so her kind of whole thesis is about interest rates will stay high for longer. And so this will feed into, you know, much better net interest income revenues for these big giant banks. So I think that's a bit of a breakdown of the different revenue streams for some of these investment banks. And just to give you some context of numbers. I was looking at the Goldman global banking and markets so Goldman's been streamlined into three divisions in this current restructuring they've been going through so there's global banking markets. So this is kind of your trading and your IBD type packaged into one unit, then you've got asset wealth management, then you've got platform solutions. Now, when you combine. So when you think of Goldman's you think yeah they're the, the leader in IBD, they do all the deals, obviously trading securities across different derivatives. So they generate about six and a half billion or they did in their last quarter, in terms of the earning statement, so six and a half billion US dollars if you bolt in asset and wealth management takes up to 3.6 billion. So you're talking around 10 combined. Right. Yeah, when you look at JP Morgan. So not only is their corporate investment bank already bigger than that just by a whisker just short of 11 billion, their consumer and community banking area. I think if I said to most students, do you fancy working in consumer and community banking, or do you want to work at Goldman's. So that consumer and community banking revenue is far greater the entire pool of revenue across in all of the divisions of goldman's clocks in just shy of 16 billion. Quite incredible. Yeah, and JP Morgan is the biggest bank. I mean, I actually not sure what the valuation of goldman's is. I know, you know, there's, you know, there's kind of, I guess the goldman's and the Morgan Stanley's are a little bit more niche, even though they've been trying to broaden and diversify and try and get into the kind of commercial banking gig but but broadly you would say that they're quite they're more niche where it's more about global markets and IBD. But then when you think about big banks like JP Morgan, Bank of America, city group. You know, they are giants of the commercial and retail banking world. And so JP Morgan's business as you're saying they're like half of it. More than half of it, I believe or but yeah more than half of that well about half is is from consumer and community banking and that's their kind of big, big kind of underlying engine and that engine is firing into life. That engine's been a little bit squeezed for a decade, because interest rates have been at zero. And now the interest rates have elevated pretty sharply this big engine that they've got is really firing and so why does that happen because the whole point around consumer and sort of corporate banking it's had a banks make money it's about borrowing money on the short term by getting individuals to deposit their salaries and whatever the income they've got coming in and deposit your money at the bank. The bank pulls all those deposits and lends that money out to their other individuals through things like mortgages but other corporations and so on. Okay. And we talk about something called the net interest income. So that's just the difference between the amount they're paying to depositors. The interest rate on deposits versus the amount they're earning when they lend the money out and that gap the spread between the two so the interest they pay on deposits is really low. And the interest they charge on loans is much higher. And as interest rates rise, that spread between those two can increase, and this is why therefore the revenues. And in the end the profits that come from that part of the bank have risen sharply so 2022 has been a really good year for these big banks that have the giant, you know underlying consumer corporate banking divisions. It's something Goldman's been desperately trying to break into. And I've spent a fortune trying to do it over the last, well you probably say 10 years but especially over the last five years. And yeah this was one of the revelations a few weeks back when Goldman's had their earnings and their earnings were shocking. It was the owning up, it was the fessing up that our strategy, trying to break this commercial banking market our strategy has been terrible and it's failed, and we've spent a whole load of money and we've not got very far. And so that's why Goldman's who have been trying to build that that kind of same similar kind of engine that JP Morgan have haven't quite yet managed to figure it out. Yeah, I think I remember reading an FT newsletter and they were talking about if you're an investor. It's not about trying to pick the best bank. It's about diversifying which banks you are invested in. And so it's not like you're trying to bet on Goldman's will be able to diversify and mitigate the volatility on the dependency of fee generated business which as we saw was quite susceptible to economic and macro conditions. No, they will outperform like we saw with record breaking fees during the initial onset of the pandemic. Yeah, and through 21 and then the other banks will pick up and not and balance counterbalance that in the current situation we were at the moment in a potential slowdown environment. Yeah, and you could say that JP Morgan's a one stop shop right for an investor who you're you're looking to get exposure across the sort of banking elements and divisions you could say that JP Morgan's one of those ones that has has it all.  So it's yeah as a business is much more diversified than banks like goldman's which makes it a safer investment. And that's why the JP Morgan share price is a lot less volatile. And back to this analyst at Morgan Stanley. Grasek, and she's saying that yes. So her thesis is based off the idea that there'll be a soft landing. And so the Fed will carry on hiking and they'll maintain rates at a higher level for longer. That then benefits JP Morgan she's also saying that you'll get a return of the IBD fee generation that has such a shocking year in 2022. And if the economy soft lands and we start to get an uptick, then you see a return to those IBD revenues which would benefit the goldman to this world but definitely would also benefit JP Morgan so they could be strolling into that like the perfect scenario where all divisions are firing. Perhaps later this year and maybe into 2014, which is why I think Grasek is so bullish. Yeah, I think the other element with JP makes a quite interesting medium term so let's say the coming years is also their investment in technology. Because I remember, I think it was last year that they said that they were going to come up with a timeline of the investment but they were going to invest about $12 billion in a broad range of technologies simultaneously. And I know that their team of technologists is like, they're aiming I think for $50,000 which is larger than most other banks' total headcount. I mean I guess that's one of the big risks for these big giant incumbent banks is their legacy tech. And you get these new challenger banks coming along like banks like Starling or Revolute and all these kind of players that are brand new. They don't have a legacy tech stack, they're just coming at it with brand new tech, building it from scratch. And you get these super slick apps that are really intuitive to use and you know a fit for purpose for the modern age, right. But these big banks trying to get their old tech stack and trying to revolutionize it and make it new and shiny and pretty is a mammoth task and is costing huge amounts of money. And of course the longer it takes them to do it will the more market share they lose to these new upcomers. And so, yeah, they got to go big investment side. You know they are the giants like the JP Morgan's they're not going to get washed away by this new wave of kind of challenger banks but I guess strategically they approach this.  Right. The end of last year, they acquired a payments startup called renovite, which is basically a rival of stripe and block. And then that was the latest in a string of fintech deals that they've been doing I think they acquired five fintech startups as well, just as soon as the pandemic hit, they were straight on it.  When you actually put in the operating expenses everything else you actually just at the end you're left with what I say just left with your left with 1.3 billion US dollars from 11 billion revenue with JP 34 and a half going in. 11 as net income right billion at the end of it. Yeah, so 10 10 x the net income that goldman's have. Yeah. Yeah, and that's obviously a big war chest to put to work.  I'm surprised the regulator.  And yet you have these other giant industries.  Come on. All right, well let's pivot and talk a little bit about the macro scene just for five or 10 minutes. I'm starting off with the economic data points that we had, and I guess that kind of combines with the minutes, because US was a second reading of force quarter GDP earlier in the week and it was previously estimated at 2.9% The advanced reading got downgraded if you like 2.7. However, the feds preferred inflation figure PCE was revised up. So you've got slightly more aggressive slowdown with a slightly more concerning inflation situation. And that does kind of feed into the summary of what the feds were saying right which was kind of we're downshifting in rates, but the concern of inflation remains high. Yeah. I think it's been like broadly. Obviously January and the start of February were just rip roaring weeks for markets right and just bounced like way faster than almost everyone was expecting and that was all off the idea that the Fed are going to stop hiking. They might do one more quarter point hike and then that's it. And then we may well see a recession, a mild one towards the second half of the year which means we'll get some rate cuts. But what's happened in the last couple of weeks is now I kind of a bit of a flip of all that argument where we're now feeling a little bit nervous because the data that's been coming in has been over strong. So the US economy is actually firing. Right we had a really strong non farm payrolls report for the month of January few weeks back now but that was like stellar massive huge surprise. Then we've had some really strong, you know, PMI data as we had a crazy strong retail sales number out of the US and it's like what's what is going on here how is this economy staying solid in the face of this massive interest rate hiking onslaught from the Fed and you know I think it surprised everyone right we were expecting the economy to turn and that feed into all that narrative about the Fed stopping their hikes but it hasn't turned. And yeah in the minutes I mean the minutes I would say the Fed minutes so just for those who don't know the Fed have a meeting every six weeks. But then three weeks after each meeting, they release the minutes from that meeting. It just gives you much more detail as to what was discussed and what the members were thinking, like for example here's a quote from the minutes that kind of was picked out. That's led to some of this market downside that the quote is the participants favoring a 50 basis point increase so remember last meeting they hiked by 25 basis points. It was a unanimous decision but some had wanted a bigger 50 point height right and those that wanted that. They noted that a larger increase would more quickly bring the target range close to the levels they believed would achieve a sufficiently restrictive stance. So this was kind of picked out by the media. And so yeah it's now playing but those minutes are a bit you got to realize those those minutes are from the meeting in January which was before all of this strong data. So if you now add in all the strong data and there's already some people on that committee who wanted 50 and when they meet next time in three weeks to come. If we continue to get strong data, then I do think that you will see a slightly different Fed than we saw back in January. The Fed were very dovish in January and I think they probably going to have to reverse that to an extent, their next meeting and that's what markets are reacting to now that's why you've seen some pretty decent downside in a lot of these markets So for example, you know if you want to just pick the S&P, you know we've dropped from 4200 back to below 4000. So that's more than a 5% drop just over the last couple of weeks as we've been getting all this super strong data coming in. Yeah, and I can see that the market pricing at the moment is 76% in short term interest rate futures indicative of that meeting in three weeks of a mover 25. So 75, 25, 25% still looking for 50. And I assume that's gone up and the likelihood of a 50 hike has increased over the last couple of weeks. It was like north of 90% not that long ago before 25. Yeah, 25. Yeah. The one person then that's feeling a little bit better, I guess. Is our is our buddy Mike Wilson. The Uber bear. Yeah. But just to, you know, kind of stoked the flame a little bit further he came out with his, his report called the death zone. He was talking about basically a measurement so equity risk premium. And he was looking at that and basically on that measurement, he's saying that the S&P 500 has fallen into the death zone, which means then in that scenario, the S&P could slide a further 26% from its current levels. Well, we'd be talking 3000. Wow. We're just, we've just gone through 4000 at the moment. Obviously that would be his worst case scenario. He was basically talking about, again, same thing as really as you were there, which was recent data suggests the economy might be able to dodge your recession. They've also taken the possibility of a Fed reserve pivot off the table. Yeah. So therefore that doesn't bode well for stocks as the shark rally this year has left them the most expensive they've been since 2007 by the measure of their equity risk premium. Yeah. I love it. You know, so if you were kind of stumbled across this podcast and you knew nothing about markets. And then you hear that you go hang on the economy is going to avoid recession and therefore stock markets are going to collapse. It's like, well, hang on. No, you've obviously said that wrong. But it's not wrong. That's exactly the case. Good news is bad news. The better the economic data, the worst news is for share prices because there won't be the Fed pivot. And yeah, it's just quite, it's just a funny old world, isn't it? And quite an important point to understand the behavioral side of how markets go about their business. But yeah, and a good point to conclude then is that markets, again, if you are new to the game, the markets are forward looking. And so, yeah, trying to just deal with this changing of situation over the last it's been a really interesting couple of weeks actually. We've really shifted through through the first two months of this. This year, what a significant sea changes is underway at the moment. So we'll see. It'd be interesting to see where the S&P closes today because we're right down at what was the low point of yesterday's insight at the moment. So whether we close above or below there will be quite telling. Yeah, and it's quite there's actually a really important trend line on the S&P that goes back to the October low. What it takes in the October low, then the sort of December, January low and now where we are now is kind of the third test this trend line. So technically, really important around this 4000 handle and yeah, where we might close, where we might close out the week can be pretty significant. You know, and as ever, we're data dependent. You know, the Fed say that but also markets are as well and I tell you what if this US data continues to come through strong, then yeah, this market's going down. Okay, well, look, while you're in New York, then if you see Mike, just buy him a beer and cheer him up a little bit. I'm not sure that's possible. All right, cool. We'll end it there. Thanks very much, Piers. Enjoy your time in the Big Apple and I'll see you next week. Yeah. Cheers. See you. Take care.


Everybody Matt here for late in sports cards ripping 2023 top series to baseball jumbo six-box full case break number six pick your team We have a mod a pod rays Christopher o Orioles Daniel K Mariners Daniel B Phillies Derek D Rockies Henry C. Blue J's Jeff M. Royals Marlins brewers A's pirates and nationals Jerry B Mets Judson C. Guardians Kengo F angels Kevin L. Giants Matthew B. Braves miles H Dodgers Raymond R. Quinn's Richard G. Cardinals Roy M. Rangers Scott W. Tigers Sean D. Cubs rays Sean L. White Sox Seth B. Reds Stash rookies Yankees Vaughn B. D-backs Red Sox and Astros Alright, let's do it Good luck everybody appreciate y'all film these up today last break of the day our next top series to Rakes will be tomorrow morning starting at 10 a.m. Eastern of a few cases of it along with some other Baseball and then some basketball breaks just a second here. All right, let's do it record breakers box topper pub Gulchman 1163 chances beat up mark Tishara by one ten thousandth of a point Percentage I guess James Altman Jordan Diaz rookie rainbow foil JT real Muto and Oswald Parazza Kodai Senga rookie Yep, last break of the day Timmy. This is rays gold foil team card and Dodgers silver slugger award winner commemorative patch to 299 mookie bets. There's Adley That's a rookie favorite son insert Oregon you're done. Yeah, the latent baseball channel was converted over to LSE to That way we're not Only able to rip baseball on it Alec Minoa rainbow foil and braves. That's rookie Jersey von Grissom Kyle Tucker WVC and Clemente Logan Ohapi Carol rookie. It's a Bryce Wilson. Oh, no, just on YouTube right now to pair Kyle Schwarber Gold paper. This is legends of the game, right? No Bo Jackson Do a dice roll for duels unless it's an auto relic or one-of-one left one two three right four five six That is six duels go right rookie Jordan Walker Josh young Francisco Alvarez Austin Voth gold foil how Schwerber home run challenge all aces Randy Johnson and Derek Jeter Josh young rookie reds foil card WBC J rod Randy Johnson Rookie must take a Yoshida. I'm great here. How are you twitch? to Jackie Bradley Jr. And Orange foil board to 299 Colton wall Cease and poohol's Oscar Coloss Suspenser Watkins rainbow foil and autumn Adam, I don't even know Automata Veno, I'm out of you know gold paper Manny Machado and Kirby Puckett. All right. See you. Have a good day. It's Francisco Alvarez rookie Twins gold foil team card and pirates Baseball stars rookie Otto black to 199 Louis Ortiz All aces Spencer Strider Ichiro Anthony Valpe rookie twins rainbow foil and Vintage stock PJ Higgins 99 Jordan Diaz and drew waters silver packs Beltray Jeremy Pena Logan Webb and Lenion Sosa Sandy Alcantra Kerry Carpenter Elohim in as and Spencer steer record breakers Ichiro Box topper Manny Machado rainbow foil Logan Ohapi 88 rookie and Ohapi base rookie. There we go Focus has been a little Corbin Carroll rookie Anthony Volpe that is gold foil rookie nice when yanks Go Yankees This is Mariners crowning achievements commemorative patch Ken Griffey Jr. Nice from Seattle and legends of the game Hank Aaron Shoya Tani 88 all-star rookie Kodai Senga Jordan Walker rookie. This is Gabrielle Arias foil and Reds Hunter Green player Warren Jersey Bobby Whit Jr. WBC in Cape Cavalli Red Sox rookie Masataki Yoshida last break of the day again grab your spots up with Sam tonight on the main channel here and then Kyle will be on the LSE to channel ripping personal baseball boxes. I'll be back tomorrow at 10 a.m. Eastern Austin Barnes gold foil and gold paper Brian Anderson Aaron judge and Miggie Mr. Team today you can grab him up tomorrow. They're still available. I have three cases pick your team style tomorrow So Ken Waldechuk Gold foil Shoya Tani home run challenge Brandon Crawford and Jackie. That's a Shintaro Fujinomi rookie rainbow foil M&M's Ezekiel Tobara rookie Josh Young rookie 9 to 4 now. A's are up on the Pirates rookie Francisco Alvarez Austin Hedges gold foil and Lourdes-Gurriel black paper all aces Tom Siever and Cal Ripken all-star rookie Anthony Volpe This is Brad Boxburger rainbow foil Matt Olson gold paper Luis Arias and Gunner Henderson rookie 88 style Kodai Senga rookie rookie James Altman Arthur you're looking for Tony Kemp number of parallels. That's awesome. You see your PC guy It's a Bryce Terrain rookie gold foil. Nice one brewers and to 50 that is Yankees rookie auto gold Oswald Parasa congrats Yankees Nice rookie auto gold to 50. We'll nag that one for you Boba ship and Vlad Jr last jumbo pack of box two James Altman rookie Pirates rainbow foil and all aces Trista McKenzie that one's black 299 for the Guardians Tim Anderson and Leo Pagaro. All right silver packs Masataki Yoshida rookie Estuary Ruiz rookie Andre Dawson and Seya Suzuki Derek Jeter Gunner Henderson rookie Oswald Parasa rookie and Logan Ohapi rookie. All right two boxes down four to go again last break of the day Hey, nothing wrong with that Arthur There's a Don Mattingly My main PC guy right now is red chain deans, so I Get it white socks rainbow foil and 499 Francisco Lindor green foil board Lunataka Murakami WBC does not MLB that'll be random at the end Jacob DeGramme rookie Logan Ohapi Max Muncie gold foil and Red Sox crowning achievements commemorative patch to 299 Pedro Martino's Nice Pedro Derek Jeter legends of the game Kershaw Jordan Walker rookie Kyle Schwerver rainbow foil and Royals rookie Jersey Nick Prado Jeremy ran and Matt Chapman Anthony Volpe rookie So our reds gold foil Jose Miranda gold paper Duran and maize Masataki Yoshida rookie rookie James Altman. Just nail Diaz rookie gold or yeah gold foil. Sorry Freddie Freeman and Babe Ruth in one second trail Panetta the Von Soto It's Jonathan India rainbow foil Xander and Machanegar. There's a sneeze like right there I am. No, I want to either sneeze or I want the tickle to go away. There's Josh young Like the sneeze tickle comes, you know So Francisco Alperest Jose Ramirez all-star sky blue you guys know what I'm talking about right the sneeze tickle CC Sabathia and Mariano And it's getting right through this one It's a Keegan Aiken. I'm trying to be in the zone, but this sneeze teases driving me nuts It's a red-winged old paper wander WBC grossions Codeis Senga Jordan Walker Yeah, James Altman Well, it's one of those things like you never look forward to a sneeze, but when it needs to happen, you're like, oh, it's time you know So pose a butto rookie And this is to 199 cardinals rookie auto black Nolan Gorman awesome card for the cardinals Rookie auto black to 199 Here you go, St. Louis mag that one for you. Well Schmidt and Nolan Ryan Corbyn Carroll rookie Hunter Dozier rainbow foil and to 300 advanced stats Anthony Rizzo Arnato, but I sang a rookie lucky us Sam's here.  Josh young and Tepra and Jamal in does show how tiny 88 Masataki Yoshida It's tight France gold foil and Yankees silver slugger award commemorative patch to 399 Aaron judge Mike trout and Juan Soto Yeah, he's playing for Miami, right? It's a Freddy Tarnock rookie rainbow foil and Royals that is rookie Jersey Vinnie Pasquantino Andre Semeniz and Cody Bellinger Francisco Alvarez rookie and Shintaro Fujinami rookie gold foil Christian Walker Old paper all aces Tristan McKenzie and Garrick Rookie Anthony Volpe Orvin Carroll, that is Josh young rookie gold foil nice one Rangers Austin Riley home run challenge and legends of the game no one Ryan Jordan Walker if you just want to like set it aside Unless you know they're on a team I don't think we've seen any non MLB world baseball classic cards yet We're double-checking Casey Meis rainbow foil. There's one spoke too soon Masataki or actually that's not non MLB. That's our Red Sox Masataki Yoshida Brayu Kodai Senga Yeah, there was a moon attacking me moon attacking Murakami So that one will be random at the end. This is James Outman Rookie Kyle Isbell Gold foil and 299 orange foil board Joe Ryan Kutchin and Betts Logan Webb rainbow foil and Jake McCarthy. That is gold paper Salvi and Mookie Logan Ohapi rookie Willie Castro gold foil and Debacks 88 style rookie Otto stone Garrett Sounds like a news anchor's name stone Garrett Ted Williams legends of the game Ted Williams all-star Jordan Walker rookie Johanio Suarez rainbow foil and 499 green foil board drew drew Rasmussen Wander that is WBC sky blue Will Smith and Aaron judge Hey, Sam, would you rather fight Conor McGregor or the toughest fourth grader on the planet? Uh, Logan Ohapi rookie Probably the toughest fourth grader because I feel like you're not gonna have any, uh, like, uh Like, uh, what was I gonna say at least the toughest fourth grader world doesn't have any like professional MMA experience Yeah So I would go the opposite direction because you know, you're gonna lose to Conor McGregor And people will be like, well, of course it was Conor McGregor, but if you lose to a fourth grader, you're gonna know It's the toughest one in the world. How do you how do you bounce back from that? It's David Ortiz, Mike Trout, Michael Massey and Julio Arias Kyle Schwarber, Garrett Mitchell, Ryan Mountcastle and Shane McClanahan question came from It's uh, Cal Ripken, record breakers Josh Young Chris Taylor, Goldie and Hank Garrett Anthony Volpe, Ranger Suarez, Gold Foil D-backs That is crowning achievements commemorative patch, Randy Johnson Garrett Mitchell, significance insert, uh, Aaron Judge, significance statistics. There we go Masatake Yoshida, Rookie, Craig Kimbrell, Rainbow Foil and Cubs That's Rookie Jersey, Christopher Morrell Yoshinobu Yamamoto, WBC, that'll be a random to all Mike Trout, 88, Francisco Averez Alfonso Rivas, Gold Foil and Gold Paper, Adam Adavino Alllaces, Kevin Galsman, Max Scherzer, Corvin Carroll, Rookie White Sox, Gold Foil, Team Card, Yordon, Home Run Challenge and Chipper Legends of the Game, Riffy, Drew Smiley, Rainbow Foil, Vanny Pasquantino and DL Hall Kodai Sango, Rookie, James Altman, Rookie Keegan Akin, Gold Foil and Bo Nailer That is Sky Blue, Rookie 88, I don't know, 600 on those, still I think Spencer Torkelson, Foil and Matt Carpenter, Gold Paper Green Foilboard, Alexis Diaz, Jack Peterson and Yordon Logan Ohapi, Corvin Carroll, Rookie, Javier Asad, Rookie Gold Foil and Nice Guardians, Three of Five, Tops Reverence, Patch Auto, Jose Ramirez, very nice hit for the Guardians Gratz Cleveland, I was hoping I'd pull one of these at some point, happy to do it on release day There's Lou Gehrig, Legends of the Game, Brett, Jordan Walker Rookie, some nice patch autos today The crowd goes mild, Luis Liberado and Red Foilboard, PJ Higgins Masataki Yoshida, Rookie 88, Logan Ohapi, Jeff Bagwell, Tristan McKenzie, David Hensley and George Springer Virto Clemente, Tristan Casas, Dylan Cease and to 150, that is A's Rookie, Blue Refractor, Ken Waldechuk Here we go, box number six, Last Box of the Daytime Breaks, Rector Breakers, Mike Trout Rays, Rainbow Foil and Red Sox, Rookie Jersey, Tristan Casas, Jonathan Ronda, Juan Soto, Kodaisango Rookie and Savalli, Israel Pineda, James Altman, Cole Calhoun, Gold Foil and Gold Paper, Collin McHugh Alex Bragman, Verlander, Juan Soto WBC and Cutter Crawford, Foil, Trey Turner, 88 Jay McCarthy, Gold Foil and Tigers, Cis Crowning Achievements, Commemorative Patch, Miguel Cabrera, Ice Miggy, All Aces, Hugh Darvish, Greg Maddox, Ryan Tepera, Tepera, Gold Foil, Ebon Diaz and Mike Trout, 88, Oscar Coloss, Five Jumbo Packs, Two Silver Packs to go in the break, Harrison Bader, Rainbow Foil and 499, Chris Bassett, Green Foil Board, Jeremy Pena, WBC, Xander, Logan Ohapi, Michael Siani, Logan Webb, Gold Foil, 299, Anthony Rendo, an Orange Foil Board and Legends of the Game, Ernie Banks, Stan Musial, Jordan Walker Rookie, Isaac Paredes, Rainbow Foil, Ford Proctor Rookie, Gold Paper, Manessus, Andale Murphy, Mastake Yoshida Rookie, Anthony Volpe, Sans, Yon Gomes, Gold, we have a Nate Eaton, Significant Statistics Rookie and this is a redemption, our first redemption of the day in our last box, All Aces Autograph Parallel, all right we're going to need to know Tani here I think to uh match Forrest Trout from earlier, oh that is Twins, Sunny Gray, there you go Minnesota, there's Ricky, All Star, Josh Young, Elizabeth, Francisco Alvarez, Rookie, there's Prado Mo, Rainbow Foil and Significant Statistics, Black, or I'm sorry that's Sky Blue, Aaron Judge, Rosarena and Schwabber, Rookie, Mastake Yoshida, Anthony Volpe, all right two silver packs we're going to close this out how about an auto, we haven't seen one of those yet today out of a silver pack, Walter Chuck, Mulleter, Cole and Clemens, Rosarena, Castillo, India, and to 75, that is Purple, Mike Piazza, Metz, Mike Piazza, all right give me just a second here we're going to do a random, so top spot we'll get the Munitaka Murakami and second spot I'll get Yoshinobu Yamamoto, hang on I don't even have it ready, I thought I did, this is series two number six WBC non MLB team list copied and pasted over I went to the wrong screen anyway all right here we go this is for the WBC cards we're randomized seven times one two three four five six and seven twins get the Murakami and Padres get the Yamamoto let me tag those I'll tag those and we'll do this recap so so we had Munitaka Murakami that went to the twins in the random Yoshinobu Yamamoto went to the Padres in the random our relics we had Miggy, Tigers, Red Sox Rookie, Tristan Casas, Cubs Rookie, Christopher Morel, D-Backs, Randy Johnson, Royals Rookie but Vinny Pasquantino, Royals Rookie, Nick Prado, Red Sox, 299, Pedro, Mariners, Griffey, Reds, Hunter Green, Braves, Rookie, Vaughn Grissom, we had Silver Slugger Award winner, Commemorative Patches, Dodgers 299, Mookie Betts, and Yankees to 399, Aaron Judge, and our Autos, D-Backs, Rookie Stone Garrett, Pirates, Rookie Baseball Stars, Black to 199, Luis Ortiz, Cardinals, Rookie Black, that was to 199, Nolan Gorman, Yankees, Rookie Gold, Oswald Parazza, 50, and Guardians, that is Topps Reverence Patch Autograph, three of five Jose Ramirez, excellent case that'll do it for the break, thank you everybody.


Hello everyone, I am R. B. Patil, Assistant Professor, Department of Mechanical Engineering Walsh and Institute of Technology, Solapur. Today, we will discuss about the isometric projections. At the end of this session, student will be able to draw the isometric projections. Now, before starting the isometric projection, can you define the, what is isometric view? The basic difference between isometric projection and isometric view is that, for drawing the isometric view, true scale is used. Whereas, for drawing the isometric projection, reduced scale, nothing but isometric scale is used. Now, we start with how to draw the isometric scale. First, for drawing the isometric scale, draw first one horizontal line. With this horizontal line, draw angle of the size 30 degree. This angle is of 30 degree. Now, from same point, draw another angle of size 45 degree. From this point, again draw the second projections with angle of 40 by degree. Suppose, this is Abel, this is A C and this is A D. Now, project each point or each mark on the 45 degree. First, fourth, fifth, sixth, seventh, etc. For visibility purpose, we use n 2 3 4 5 6 7. These are the true scales or true scale. Now, this true scale, you have to project on 30 degree mark with perpendicular projection. Project all scale from 1 to 7 on 30 degree mark. Now, on this 30 degree mark, this is 1, this is 2, this is 3, this is 4, 5, 6 and 7. This scale is isometric scale and this is true scale. Now, what is the difference between isometric scale and true scale? Isometric scale is drawn on the 30 degree marks. Means what? You have to draw 45 degree line on that project all the marks or a true scale project that true scale on the 30 degree mark. So, that you will get reduced scale called as a isometric scale. Now, with this isometric scale, you have to solve the problem. Take a simple problem where this is 50, this is 40, height is 30, this is 10, this is 10. Now, this is left hand side view and this is front view. Same problem you have to solve. Starting point is similar as that of the isometric view. Draw a horizontal line, mark the primary axis that is isometric axis from this point project 30 degree marks. This is front view side, this is left hand side view side. In front view, total distance is 50. So, while taking the distance, consider the isometric distance. What you want? Total 50. Take 50 mm with this 50 mm. Draw the parallel line to this isoplane. So, that you will get iso line, similar iso line parallel to this axis. Now, second dimension is, sorry height is 30. Take height as a 30 and length as a 40. Now, draw parallel lines to this. This you will get the outer box. Now, how to project the points? In front view, you get this distance as a 10. In left hand side view, this distance as a again 10. Take 10 mm from isometric scale, mark this. Total height is 10. This height is again 10. So, draw a line parallel to this. Again, second line parallel to this iso line. Now, same points you have to project to the remaining sides. Draw again parallel line. Now, join this. Again, draw parallel line to this iso axis and parallel line to this. For visibility purpose, right now I am going to rub this remaining work, but keep in mind that while drawing, do not rub the entity. For visibility purpose, I am making dark. This shows the isometric projection. I hope you will understand the method of drawing the isometric projection. Similar way, if you want to draw the circle with the using isometric projection, just use the isometric scale while drawing the object. Thank you.


You need a financial advisor with the freedom to focus on your specific needs. Whatever your goals, Reid Potter can create a game plan tailored to you. Call Reid at 432-0777 at Pikeville, Kentucky to learn more. Heinemann Settlement School will be hosting the second annual Ironwood Rider Studio June 19th through the 24th. Ironwood Studios allows high school students to stay on the historic school campus and learn from talented riders from across Appalachia. The idea behind that was to take the adult riders workshop where you stay on campus on our historic campus for a week. You work with very well-respected and talented riders and build that community. So we wanted to take what was working best for that and adapt it to our youth and also add and change some things. The studio will include three meals a day, teaching and classes in poetry, fiction, non-fiction and playwriting. Scholarships are also available. The other part of it is just building that community with other riders because a lot of our places in Appalachia are very rural and so they may not have any people that they know that are into creative writing, especially if they come from a small community, a small school. So building that network of support between the high schoolers. For more information on the Ironwood Rider Studio and to register, go to Heinemann Settlement School on Facebook. Reporting for Mountain Top News, I'm Brianna Robinson.


We as Ravens fans clearly know who the starting running back is on this team at the moment and this is of course Mark Ingram. Mark Ingram was somebody who the Ravens signed last season and I always talk about it. Initially when they first signed Mark Ingram I was a little bit underwhelmed because I felt like hey we got a Mark Ingram and Gus Edwards already like what was the point and it was a cheap deal it was a three year fifteen million dollar deal but I was like but still we we got Gus Edwards he can do the stuff that Mark Ingram can do he's the same type of running back but oh I was wrong and that's no offense to Gus Edwards at all but Mark Ingram brought a lot more than just play on the field. He brought leadership he brought accountability he brought just a good excuse me he brought a great vibe to this Ravens team and again he got the whole world saying big trust. This dude brought support to the team and he just brought chemistry energy and just like I said just pure leadership man and that's the stuff that was off the field he didn't even talk about the numbers that he put up he had about I think eleven hundred yards I think like eight Russian touchdowns and he was a very big part of this offense he helped in the running game obviously he helped in the passing game because he caught passes out of the backfield got very reliable hands Mark Ingram he was real deal and I expect him to continue to do what he did to pick up right where he left off last year but there's something that happened during this off season that kind of make you just scratch your head and wonder a little bit how long Mark Ingram is gonna really remain the starter for and that's something that happened was when the Ravens selected JK Dobbins in the second round of this year's NFL draft. JK Dobbins from the early eye test he looks like he can do it all he is he got speed he's strong he got hands he is a complete like complete complete running back and it's been a question that's come up so many times throughout this offseason especially after the drafts of course but when is JK Dobbins gonna end up taking over that starting role when are the Ravens gonna announce that he is the starter some people envision it early on in the season I've seen some people say hey after like week 3-4 expect them to give it to JK now me I don't have a definitive timetable on when I expect JK Dobbins to be the starter I do expect him to end up being the starter eventually because you don't just draft a running back in the second round when your current running backs are not tied to you for too long in the future Mark Ingram for this year next year Gus Edwards for this year and possibly next year and then Justice Hill he's tied up for a couple more years as of right now now of course we got roster cut down so that could end up changing but we'll see how that goes but you don't just draft a running back in the second round to have him just pulse it up chilling just vibing relax no oh no because the last running back that they drafted in the second round at that exact same spot that they drafted JK Dobbins in who wears the exact same number that JK Dobbins wears he ended up becoming a star for these Ravens and not saying that JK Dobbins is going to follow those footsteps on the field I mean we would hope so he would actually exceed him that would be nice but we know that they are going to use this guy JK Dobbins is definitely gonna have a big role on this offense and I mean hey don't take it from me coach Harbaugh said it himself at a presser a few days ago and it said while boy Mark Ingram remains and starting running back for the Ravens coach Harbaugh said that rookie JK Dobbins is probably going to have a significant role and if it's John Harbaugh saying that like Harbaugh's backing you up in front of the public like putting it out there in front of the public if Harbaugh backing you then you in a pretty good spot on this team because if Harbaugh gives those answers was like oh well we'll see oh well we'll think about it oh well we'll look into it could be like oof and we all know about that doghouse we all know about that doghouse some players done got in there and never came back but JK seems to be in a good spot and he also said confidence plus coach ability plus talent that's a pretty good combination and he's got all of that and that's what Harbaugh said about JK Dobbins so how long is it gonna be me I said toward the end of this season and if not toward the end of this season to certainly at the beginning of next is when I think JK Dobbins will end up being a starter now I think it's gonna be one of those things where it could end up being one of them situations where of course Mark Ingram will start and again this is no offense to Mark Ingram at all cuz we all love Mark Ingram Ravens man cuz Saints Saints fans told us Saints or I remember when Ravens first signed Mark Ingram so many Saints fans were hurt but at the same time they were happy because he was going to the Ravens you know Ravens and Saints is this bond between Ravens and Saints that just cannot and will not ever be broken but when Ravens first signed Mark Ingram Saints were Saints fans they were very upset but they were happy but they let us know you can check the comment section of those videos check the comment section of the video we signed Mark Ingram that we did Saints fans came through like crazy and they were like oh this hurts but we glad that he went to y'all cuz we know y'all gonna treat him right and you see how that went so but I think it's gonna be one of those cases where Mark Ingram is doing this thing but when JK Dobbins comes in to spell him to give him a break it could end up being one of those things where he just he just seems like he just ready to like blow up man ready to take off ready to explode ready to make a big play man that's that's just how he looks and of course he did his thing in college of course but now we have to see how that translates to the NFL he definitely got to prove himself on the NFL level but I just I don't know I'm just I'm not worried about that at all like there's not one piece of me that feels like oh man I'm worried if JK Dobbins is gonna be able to hang with the big boys in the NFL no I'm not I'm not concerned about that like whatsoever like at all so we just gonna have to wait and see we're just gonna have to wait and see but then you also got Gus Edwards Gus Edwards of course always looking like a giant looking like just big strong and ready that's how Gus Edwards looks ready that's the best word to explain his physical condition he's ready so what happens with him this and again Ravens did say this early on they said it's a good problem to have because it is because you got three quality running backs for Justice Hill to now can't forget about Justice Hill and we're gonna see what happens with in at that fourth running back spot because again Mark Ingram lock JK Dobbins lock Gus Edwards pretty much a lock everybody else is up in the air and that's why it's just such a tough tough tough business man the decisions that have to be made on the daily the moves oh it's tough man and you feel bad for people you really do because this is their livelihood it's such a cut-throat business it's a business to where you just never know what's gonna happen next it's a business to where every everything you do is in the public eye everything about your job is in the public eye how long you've been at your job if you then moved around to multiple jobs if you've had problems at your job how much you get paid at your job your performance at your job all of that is public it's on public display and if anybody ever forgets about your performance at your job they can just go on YouTube and look it up they can go to the all 22 and look it up they can see all of that so it's like there's nothing private about it and that's another reason why it makes it so tough but anyway again this they have a good problem but it is a problem I hope it doesn't turn into a problem because I would say I don't think it's going to you never know but I hope it doesn't hope Raven still just have that continue that that winning culture and everybody everybody eats everybody ain't gonna get to eat every game there but hopefully they can divvy up that ball in the running game a good amount to everybody it's not gonna be even it's not gonna be fair so to speak but you got to go with your hot hands go what's working and please don't fix a what's broken what's not broken excuse me so we'll see how this whole thing works out man but again JK Dobbins is in a really good spot because hardball got his back and if hardball got your back oh you you said so anyway team keep it clean I appreciate y'all I love y'all and I'm out


This is easy to install. It's very easy because it's a non-communicating system between indoor and outdoor unit. So actually, if the homeowner already has a system, indoor works perfectly fine. And if he or she has to replace the outdoor only, they can get this unit, install it, and use with the current existing system. This three-ton IDS light, it's got its own boosting system inside. And what it does is because it's got its own little brain inside, not just the thermostat, correct? Yeah. So it has the capability of keeping consistent temperatures and adjusting it by like a high efficiency furnace, boosting it up to another level. So what the inverter compressor does is, depending on what the, what the needs is from the inside of the home, it's just a thing of its own speed. That is amazing. We gotta put one in my house. You should, yeah.


If you're looking for an outlining application that syncs across all of your devices, then look no further because I've got the solution. It's an application called Cloud Outliner. And so that's what I'm going to be digging into in this video. Now it is available as a download either on the Mac or separately on iOS. But there is a way that you can get it as part of the setup subscription. So I'll be talking about that in a moment as well. But let's first of all just have a quick look at what the interface looks like because it's something that I really like. It's got this really nice sort of lightweight feel to it so not too bloated with too many features. It's got just the things that personally I need from an outlining application. So I'm really pleased that I found out that this was available on setup. But as I say, I'll be talking about the different ways you can get it in a little while. So first of all, let's have a look at the app itself. So here it is, just a simple sort of two pane design. So you might not be able to see that but there's a little pane down the middle there. There we go. So we've got a little sidebar and some icons across the top and then a couple of icons across the bottom. But what can we do with this? Well, basically we can use it to create outlines. Maybe I need to just talk about exactly what those are. So I'm gonna create a new outline here like this and I'm gonna give this a name, outline one, very simple. And then what we can do is we can create basically a list. So let's think about this as maybe they might be sections in a book, they might be sections in a video, who knows. In fact, let's use that as an example, shall we? So let's say that this is gonna be my outline for a live stream or something like that. And I want to split up the different sections. So I might want to have my introduction first and then on the next line, I might want to have some content about, let's say YouTube channel tweaks, which is something that I will be doing on my live stream on this Friday evening. In fact, well, Saturday morning for me, but Friday evening for those of you in the US. So check the channel for that. So maybe I want to talk about my YouTube tweaks and in this case, I might then want to sort of indent this a little bit. I'm just gonna just do this and then I'll explain a little bit more about what I'm doing. So if I just indent this, so what things have I changed on my YouTube channel? I've changed my thumbnails. I've changed my intros and I've also changed my end screens. There we go. So that is just a little, of course I can't type and talk at the same time. So I've got the little spelling mistakes in there. But that is basically what outlines are. They allow you to just create these sort of quick overviews of something that you're doing. It could be a project plan as well. And then if I just sort of put that back in, so what else might want to talk about, I might just want to have some general chat. And then I might want to have a guest comes on. So let's say that that is the rough outline for my live stream coming up. Then you might want to add some notes in and things like this. So for the general chat, maybe I've got something that I want to have in here. So ask people to put a Q colon in front of their question, just so that I don't forget that. So that is basically how you can create outlines. And these can be as simple or as complicated as you want. Now I do have a task manager that I use all of the time for pretty much everything that I do. So that is Omnifocus. And that has the same sort of hierarchical structure. But that's a lot more of a full featured getting things done by David Allen, style of task planner. So that is what I use for all my general task planning. But for just creating outlines of things or for just little quick ad hoc projects, it's just as easy to just fire up something like this and then get an overview or an outline of what it is I'm trying to do. So that is what essentially an outlining app is. So I'm going to go into more detail of the functions of this because as I say, it's quite lightweight, but it's just got everything that I needed in it. So I'll be talking about it on the Mac OS and also on iOS as well.  So it is available on the iOS and Mac App Store. So on the Mac App Store, it is $9.99. And that's in dollars. And then on the iOS App Store, it is $2.99 for the pro version. There is a lighter weight version that you can try out as well. But these ones have all of the features. And so these are the features that I'm going to be covering in this video today. However, if you are a user of Setapp, you can also get it as part of Setapp. And if you don't know what Setapp is, I should probably just mention. Setapp is a subscription service for apps basically where you pay one monthly fee of $9.99 and you get access to over 200 great sort of utility style apps just like this one that I'm talking about. It sits on your Mac as basically like a secondary app store if you like. And you can just go and choose the ones that you want to install. You can even uninstall them from within the Setapp app as well. And it's great for those little jobs that you need to do where perhaps you wouldn't have gone out and bought the application but because it's part of Setapp, you can just download it, use it to do its thing and then even offload it if you don't want to use it going forward. And it's also a great way to try out new apps as well. I use loads of these Setapp apps just in my day to day productivity. And it really has been a great sort of addition to my whole workflow really. Now I have got an affiliate link and this is takeonetech.io slash Setapp. And the way that the affiliate program works is you can go and get a free trial just like everybody else. I think it's a week long trial where you can try out all of the different apps. But then if you have signed up with my affiliate link then basically once you do go to sign up to Setapp, you'll get a free month and I'll get a free month so we both win. So that is just how the affiliate system works for them. So that is the place that I would recommend getting it from.  And of course I will be linking into it in the description as well. And to the regular place you can buy them from the app store just in case you're not interested in Setapp. But let's have a little look at the different features that we've got in here. So I did just sort of fire through this quite quickly just to sort of demonstrate but let's come into here and let's say we wanted to add in, I'm clicking in my little preview window I should be clicking in the app that would always help wouldn't it? So when you are in the outliner like this it works really well with keyboard shortcuts so you can just basically fire through this using your keyboard. But I'll show you the buttons just to start with. So basically the way this works is we've got this little plus icon here which is a way to add a new little action. You can also do this by pressing return. So if I do that it's gonna add a new task or new entry underneath. I'll talk about different list styles in a moment as well but that's just added a new task or entry down below. You'll notice that these all do have check marks on them so you can just sort of check these off. So if it was something that you were going through on your whatever it is you were doing in this case on my live stream I could be going through and checking these off and you'll notice that where you've got a parent which is the top one and these are kind of like underneath that particular parent so these are the child nodes or child entries. You can see that if any one of those is unchecked then this one up here remains sort of still not completely completed. Completely completed. Still not completed. If I click on this one though you'll notice how it changes to checked. So that's how you would do that with a sort of hierarchy. You can also expand those in and out like this. So just adding that little plus icon adds the new one beneath. But if I wanted to add one of those child nodes then I could do that in a number of ways. I could either take this one that I've already created so let's just say that I do want to do that. This is guest one. So I'm gonna list my guests and have some notes associated with them. Then you can either use this one to sort of tab that back and forth so you're just sort of moving it in and out. You can see what's happening there. Or if I wanted to do it from here I could come down here and instead of pressing the plus with the sort of down arrow which is a new row I could click this one and add a child row like that. And you can see it's just added that one directly underneath it. So let's call this one guest two. You can then just sort of drag these around. So if I want to add guest one above guest two like that you can do it that way. And then if I wanted to go back to just a completely new sort of new row not a child row then I could use this key here to add a new they call it an art row which is sort of one up from it. So that's the way that you can do that. There is obviously keyboard shortcuts for all of these. So shift return is for the new child and command shift return goes back to that top level of the hierarchy like that. You can also move things up and down using this button here and move them back down again. But as I say you can just sort of drag and drop these as well. So that is basically how you add the different elements to it. Now in terms of the actual outline itself you've got this, you might have many different outlines. So you can just keep adding new outlines to here as you wish. And then you might also want to organize these. So there is a folder command as well so that you can add a folder and then you can just sort of drag these into a specific folder as well. So if you wanted to collect these together maybe I'm going to do a list of all of my live streams and just keep all those together in one folder of my live stream outlines which I'm going to try and be a bit more planned about. So there is that. Now when you are in a particular outline you do have some options. So for example, the format, you can change things like font text and text color and things like that. You can also do that from up here as well. Now in the view menu you can also change this numbering style. So at the moment I've got the check boxes. So I might want to hide the check boxes. If this isn't going to be something that I'm going to check off as such it's just going to be a list. Then you might not want the check boxes. So you can see how you can just take those off. And if I come back into view then I might want to change the numbering style. So have some sort of numbering like this or another numbering style would be like this. These are just sort of typical ways that you might number these sort of hierarchical lists. And by the way, you can just keep adding in more sort of child levels to this. So you can see how that sort of propagates that numbering system. And then let me just have a look at one other thing that you can do in here. So then you can also filter if you have got those check boxes enabled. So let me just show the check boxes again. And let's say we've got some of those checked already like this, that's probably a bad one because there's only one thing in there. But then in the view you can also filter by showing only the checked rows or unchecked rows. So if you were doing something as a list and you were using this as some sort of lightweight task manager then showing only unchecked rows would just show you everything that you've got left to do rather than all the ones that have been completed. And you can do the opposite. You can show only the completed ones. If you wanna see how much you've actually completed. So those are the different view options that you've got. Now these things can be set up. So if you have a specific way that you use these sorts of things. So you are always creating lists or always creating checklists. You can change the defaults that you have for your checklist. So this one you can see how I've changed it. If I go into this new outline here then this will be of the just the standard format. So you can see that we've lost the numbering there. But if you want to change this you can easily do that. If you just go into the cloud outliner menu in the menu bar, click on the preferences then we've got some standard things here. There is by the way a dark and light theme. It's a defaulted to dark because I use dark on my system. So it's just defaulted to that.  And then you can also see it's got the modification date of the particular file here of the particular outline rather. So you can toggle that either on or off.  The synchronization method. So it does sync over iCloud that is the default. But there is also an outline server. So if you want to sign up you can sign up to use their own server personally. I'm using iCloud. I find that that has been working fine. You can also sync it with Evernote if you are someone who is still hanging on using Evernote. And then down below you've also got the default document setting. So this is where I was talking about the different ways that you can have it just as a default. So we've got checkboxes shown as a default but you might want to turn that one off or you might want to show notes only for selected rows or adjust the row heights to fix text. And then you can show the different numbering style. So these are the different numbering styles that we had before and changed the text. So if we did want it to just default to this numbering style then we can have that. By the way, this show I skipped over that. The show notes only for selected rows. What that does is if I just create a new note with this default, just totally skipped over that, I beg your pardon. That is where you've got notes that are visible. So if I create a new checklist now and I'll give you an example of that. Just call it example, struggling for names here. So this is a row and this is another row. There we go. Now if I was to add a note onto this. So this is the little note field here. You remember we did this before. This is a note. What it's doing now is you can see how because I've got this row number three selected or row number one selected I don't see the note that is associated with row number two. Whereas if I click on row number two now you can see that the note appears. However, the behavior that I had before if I just take off all of those filters. The one here that behavior that I had before was that you could always see the note. So if I click through these you can always see that note associated with that particular row. So that is what that setting was apologies for just totally glossing over that one. And then there is also this shortcuts section in the preferences as well. And you can see all of the different shortcuts and you can really just operate this totally with the keyboard. There's no need to be going up and pressing buttons in the menu bar. The whole way that these outliners can be really quick to work through a, you know building up a draft outline of something or a project outline task outline or whatever it happens to be is that you can sort of do it with your hands just totally on the keyboard.  Believe it or not setting up stream deck shortcuts for this because the whole point is it's a text-based and keyboard shortcuts based application.  So that is just an overview of the different functions. That was quick, wasn't it? There isn't many functions in it but it's a really good lightweight outliner. You can by the way, just talking about keyboard shortcuts so you can just navigate with your keys forwards and backwards up and down with the arrow keys. Tab will take you over to your different outlines in the sidebar so you can navigate between those. So as I say, yeah, you can just sort of fly around it with just your hands on the keyboard. But let's have a little look shall we at the iOS app and we'll have a look at it on the iPad. And the thing about this is it does sync. Now it's not an instantaneous sync necessarily. It does sync periodically but very, very quickly I should add but if you do just wanna force the sync then you can always come down to this little button just down at the bottom here and you can click on that one and it will just force that syncing to happen. So let's have a little look now over on the iPad because all of our notes now that I've just created on the Mac have actually synced. So there they are all on the iPad and if I just come over to my iPad and get my little mouse up on my iPad you can see that we have actually got all of those things so there are the things that I've just created. There are some not keyboard shortcuts but gestures that you can use on this. So if you want to just move things around you can literally just swipe things forwards and backwards to sort of slide them over to different levels in the hierarchy. So that would be the same as using those sort of indent commands that we had on the Mac whereas here it's just literally the swipe of a finger. Same goes for the sidebar so you can just sort of swipe things in and out of folders or you can move them up and down just by dragging them. He says as it's not to quite dragging it. Oh, I tell you what it is. I've got to click on this little button here. This is the difference. Click on that button to organize and then now I can just sort of drag things in and out and slide them where I want them or you can just sort of delete them from there as well. Click on done. You do obviously have the keys here to do it manually but one thing is as well all of the keyboard shortcuts if you are using a keyboard with your iPad then all of the keyboard shortcuts from the Mac do also work on the iPad which is absolutely essential in my view because once you get the muscle memory you just want things to work exactly the same across all devices. So really pleased to see that they've built in all of those keyboard shortcuts. So when you're using a keyboard with the iPad it will just work seamlessly and you'll be right at home with it. Incidentally, if you are looking for a keyboard for your iPad and you like to travel light then I can highly recommend this folding keyboard. It is in my mind the best folding keyboard and the reason why it's the best is because when you open it out it does actually turn into a completely full-size keyboard and I did a video all about this so I'll leave a link to that up in the top corner but yeah, best folding keyboard on the market in my estimation. So that is basically what it looks like on the iPad but you can also get it on iOS as well on the iPhone so that is a sort of more lightweight version but still has all of the same functionality and once again, those keyboard shortcuts do work. So that's all for this video. If you found this useful then definitely go and hit the like and subscribe button and if it's really useful then you can always head over to buy me a coffee and support the channel on a one-off or ongoing basis over there as well. I'll leave a link to some more of the setup videos that I've done over on the left-hand side. I'm a bit low down there aren't I? So until the next video, have a great day. Well I go and adjust my camera settings for this scene.


There is this issue that has been trending of my very good sister, Lady Mutambo, I personally know her, and Kiddist. I haven't personally met Kiddist, but most of you know who she is as well. I felt it's quite imperative for us as a nation to begin to realize how our behavior begins to culminate into the people we produce in this country. If constantly we're going to be having people that are going to be out there just saying whatever they feel, and that's the generation we are raising, that's the generation we are cultivating. And so I am not going to be here to begin to condemn who is wrong and who is right. I think that I would leave that in the domain of both Lillian and Kiddist. I don't know if Kiddist, that's her real name, but I will leave it in her domain. I have looked at Kiddist and I feel she's an amazing woman who has really fought so many battles in life and to get to where she is. And every time you are at the top, you need to realize that you become the topic because that's what happens at the top. So I do not want to go in details as to where this battle or this fight began from, but I just want to understand that these are two influential women in our country. And if Lillian is as influential as in she was an aspiring MP, then you must not underestimate such kind of influence. She might have not gone through, but then we cannot underestimate the impact and imprint she had on the ground. Kiddist has got a span of young girls that look up to her obviously because most of the people would want what she has. So me, I'm coming in as a pastor. I'm not coming in as a rapper this time. I'm coming in as a pastor because watching this from the terraces was just a bit disturbing, especially looking at the language that was used to just discredit each other, to just disrespect each other. And I know, you just want to speak whatever it is so you can hurt the other person. It's understood. So what kind of leadership role, what kind of leadership are you giving to our young girls? If you can insult each other, begin to talk about all this, you know. And sometimes it's a bit disturbing for me. I love your maps, like I love that boy, like I love that guy, you know, so much. Sometimes I'm just a bit, I wish he could not comment on certain things. I wish, I really wish he could not comment on certain things.  But I honestly wish people near you should be able to advise you not to comment on certain things. Your brand is extremely big. You are one of the biggest brands we have in this country and I've been telling everybody I meet to say, you know what? It starts with us supporting one brand and exporting that brand. Your maps is ready for export. We can export that guy to the nations and he will be a representative for us as Zambians. And then imagine the video coming to comment on things trivial like these words. Sometimes I do not understand this. I wish, I wish young man you can begin to look at yourself and see the kind of impact you have, the kind of brand and name you have built. Now I understand there are times when, when you, for the sake of peace in the house, you want to join in and just make it seem like it's, it's not big deal. But you know, you have a brand. You have a name. That name is extremely big and it must be protected. Kids, you must remember that you are married to one of the most biggest, like one of the most biggest artists. And me speaking like this, I'm an artist. You are married to one of the biggest artists in this country.  No, it doesn't work like that. You can feed the entire nation. Nobody's, not everyone will love you. And the moment somebody can begin to think they can say something and it can get to you, then that, that's a weak spot for you.  Who are you? Who are you married to? We've, we've come to know you because of your maps. It's the biggest brand. But is that the kind of image you want to portray for your husband to just be insulting on social media?  What kind of, even for your child, you have a child now. Can that child, 15 years from now, begin, Google up your name, Kiddy's. And then a beef between Kiddy's and Lydian Mutambo pops up and she begins to read those screenshots of your insults, degrading words. Is that the kind of personality you want to present for yourself? I'm not going to be one of those pastors that is just going to be silent about this. No. There is moral decay being introduced right now in our nation because these are some of the most influential women we have. And if they can be there out there just insulting each other right in broad daylight and everybody's just there clapping. You are right. You are wrong. At this particular time, let's bring in what does the Word of God say? What does the Bible say? I am not going to come into this matter and begin to claim that, hey, me, I'm so intelligent, so I'm going to tell you what to do. Let's go back to the scripture. What does the Bible say? Is this how believers sort out issues? No, no, no, no. That's unacceptable. It's unacceptable. To Lydian, you should be able to give leadership to this young girl. This is just a child. This kid might be this person that people are looking up to and all that, but she's just a young girl that needs leadership from you as an older woman. Let's go to the scripture. What does the Bible say? The Bible says in the book of Titus chapter one, in fact, Titus chapter two. Titus chapter two, I heard a man of God that said there is nowhere in the Bible where it's written that women should love their husbands. No, it's there. It's there in the Bible. The Bible says, let the older women likewise they be in behavior as becomes holiness, not false accusers, not given to wine, teachers of good things. This is what older women, older women must be able to do. Verse four, that they may teach the younger women to be sober. Kiddis needs to be taught to be sober by you, Lydian, Mutambo. And then second thing you teach them is to love their husbands, to love their children. This is the Bible. Titus, that is Titus chapter two, verse three to four. If you want, you can start from verse one. This is what is expected of you and Lydian to teach the young girl how to love the husband. How to love her family. How to build her family. That's what is expected of you. Not beginning to review, you are equal to me and all such is not expected from an older woman, especially somebody of intelligence like yours. No, younger women ought to be taught to love their husbands. And secondly, they need to be taught to love their children, which means ultimately it's talking about to love their family. A woman that loves her family will know how to protect it. I don't want to go back into proverb state one. The kind of woman that protects her family, the kind of woman that encourages her family to produce the best. That's what is expected. Older women must do what? Teach younger women, younger women. Lydian, you are older. Teach this young lady how to love her husband, to keep her family in check and how to behave properly. Now, when I come to Kiddist, let's go to the book of Colossians chapter four, verse six. Colossians chapter four, verse six. The Bible says, let your speech be always with grace. Talking about an older woman like Lydian and insulting her in public, is that a gracious speech? Ask yourself. Is that the speech that your mother would be so proud of if she heard or if she read it? Is that speech gracious? Is your speech seasoned with salt? Can you swallow your own words and not chalk on them? Your maps, I think it's okay. We'll talk about your maps some other time. But then the little things I can say is that my young brother, don't dent your name with trivial issues like this. Can you imagine your boy going to some woman and commenting and saying this and that? Can you imagine the Coppola bastard doing that? Can you imagine KO or Meiso Rest in Peace, AKA going to comment on things like that?  You can't do that. We are all of us are looking up to you. We are pushing you because you are one of those products we can export.  You need to wake up. If everybody around you is scared to tell you because maybe they want favors from you.  And then listen, the door is never open forever. There is no particular door that opens forever. Right now, you need to be careful and you need to know how to utilize the door that has opened for you. So your maps, I think I would want a private session where I talk to him man to man. I think it's high time we've begun to treat, to train young men to also behave like men. Oh Jesus, but kiddest, this is your scripture, Colossians chapter 4 verse 6. Let your speech always be gracious all the time. Now, because I did not come here to condemn anybody, I just want you guys to think. We want you people to make peace in the presence of everybody. Why? Because it's not, it's not wise for you to live antagonistic to each other, especially if you claim to love the Lord. I just came here to just bring some sanity. We can't continue watching people fight. And then we are just watching. We must bring back everything to the scripture. Because that's the guideline we live by. That's why we are called a Christian nation. We must put everything aside and then be able to bring love. The love of the Lord is what I speak into the heart of Lillian Mutambo. The love of the Lord is what I speak in the heart of kiddest. It's the same love that I speak upon your families that the Lord brings unity and unites you. I want you to remember my words. We want to see peace. May there be reconciliation between kiddest and Lillian Mutambo. That's our prayer.  No, you people have got a whole lot of people behind you. People that believe in you. People that are following you behind. What kind of an example are you leading and leaving behind? Praise the Lord. Praise the Lord. So ladies and gentlemen, I just came as the Coppola pastor. And this time I came as Prophet Malakai Ngani just to bring some sanity and peace. Praise the Lord. Praise the Lord. Lillian the Bible has called us a scripture for you. Titus chapter 2 verse 1 to 4. Teach the young women to be sober. Teach kiddest to be sober. She's having a certain level of success. It might bring her sobriety down. It might make her not to be sober. But you as an older woman, the Bible tells us that you must teach her to be sober. And the second thing you do is teach her to love your maps.  That's what the Bible is saying. Teach her to love and be loyal to that guy. And the third thing you teach her is you teach her to love her children. We've seen kiddest making efforts to meet your maps kids and all that. And we must applaud her. It's not easy. So that's what the Bible commands you, Lillian to do, to what? To make sure that there is that unity. You begin to hold this marriage together. That's what is expected of us as older people. And kiddest have given you a scripture. It's Colossians chapter 4 and verse 6. Watch, be always, not sometimes, be always gracious and seasoned with sort. Whatever is coming out of your mouth, can somebody hear it and not choke them. That's the kind of spirit that the Lord is commanding you or adorning you to have. Praise the Lord. Thank you so much everybody for watching. This is the Coppola pastor. Ushabayekangamade gaska. Thank you Jesus.


It looked like a mole. And my mother asked the nurse to call the doctor to come back. And she didn't want to. She said, I am not going to call the doctor for what's going to turn out to be nothing. My mother said, I'll call the doctor. I'll never forget. I was looking at my doctor, and I raised the gauze. And I just saw his face completely change. And when I looked down at my abdomen, the black dot was gone, and there was a quarter-sized pustule. The infection kept spreading, and it was starting to go down my leg. Over 2 million patients a year get hospital-acquired infections. I ended up having six more surgeries, nine blood transfusions. I left the hospital with an open abdomen that took three years to close. My hospital, they were cited for being in violation of five state laws and 10 federal laws for unsanitary conditions in their operating rooms. It took me 10 years of almost weekly physical therapy to get back to a new normal life. I spent this past year, 2017, fighting for my life all over again. I went to the hospital with a sinus infection, and they said, OK, we're going to keep you because it looks like you're starting to be in the early stages of sepsis. Well, the next morning, the infectious disease doctor came, and he said, oh, great news. We're going to send you home. And I said, really? And he said, you know my history? I said, I'm a survivor of sepsis, pseudomonas, MRSA, VRE, and necrotizing fasciitis. Can we wait until my labs come back before you discharge me? And I'd like to see what some of the cultures are saying. And he goes, oh, we didn't do any cultures. We don't need that. And we did a test for pneumonia and influenza, and you're fine. You don't have those. So we're going to go ahead and let you go home. And I said, well, can I get a second opinion on that? Can we talk to someone about that? And he said, I'm the best infectious disease doctor in the valley, probably the state. Any other doctor is going to tell you the same thing I'm telling you. I ended up having two more surgeries, two more blood transfusions, deep vein thrombosis, blood clots in both arms. I was right back where I was five years before. And it just, it really cemented for me the need to change the way we teach doctors, the way we treat doctors, the way they interact with patients and patients interact with them. We need to start sharing patient experience with our medical students, with our nursing students, so that they can get it from the horse's mouth. When you're building your house, your profession, you want to make sure that you build it on a solid foundation of patient safety. It's a major reason why we've seen 50,000 fewer preventable patient deaths in hospitals. And if you want to know what that means, ask Alicia Cole, who suffers the long-term effects of the hospital-acquired infection. You know, we've learned a lot in health care, and we're better than we were 10 years ago. We're doing great at talking about patient-centered care. We're doing great at talking about preventing errors. We've got to do better in the action of it.


Passwords on their own are no longer considered a good way to protect user accounts. The number of phishing attacks is surging. Users get trapped on fake websites, which bad actors use to steal their passwords. People are using the same password across different websites. A single data breach on one site can affect all the other sites on which the same password is used. Even if you build a secure password system, people are still at risk when the password is the only protection they can use. We need a remedy for this situation. Hi everyone, I'm Eji, and I'm a developer advocate at Google. Today, I would like to explore with you a path to a world without passwords. To keep websites safe, users are often asked to create a complex and unique password and remember it whenever they come back to a site or app. But that's not an easy task for most people. Users can use standalone password managers and browsers that have a password manager built-in to manage passwords for all of their accounts. Password managers generate strong passwords, remember them, autofill on the right websites and synchronize passwords across devices. But there can be problems with the password manager solution. Not every person uses one. People still continue to use the same password, saved in a password manager. Further, password managers don't always work across platforms, and that can mean stored passwords are unavailable in some places. For example, passwords stored on Chrome are not available on other browsers. Passwords cannot assume that their users always have access to a password manager. We need to do our best to protect users. Ideally, we don't want to rely on passwords at all. But how? The good news is there is a solution. Web authentication, or WebAuthn, is a web standard that allows users to authenticate with a FIDO compliant device, called an authenticator. FIDO is a standard that defines an authentication mechanism. This standard has been widely adopted and made available on all major browsers. For example, a security key is an authenticator that literally acts as a key for an authentication. It's often used as a second factor for password-based authentication. Let me show you how WebAuthn works. First, the user must register an authenticator with the website. This is a one-time operation that happens once the user is signed in or during account creation. There are three participants in WebAuthn. The website front-end, the web server, and the authenticator. To register the user's authenticator, the website first obtains a challenge from the server which prevents replay attacks. When the website calls navigator credentials create, the WebAuthn dialog is displayed in the browser and the authenticator prompts the user to perform the ceremony. This important step makes sure this authentication involves a physical gesture by a human. The authenticator generates a unique public key pair for the user to prove the user's possession of the device. This generated key pair is only useful for the registered origin. This means even if a user is trapped on the phishing website, the credential won't be available. This is a Fido's unique characteristic which protects users from phishing attacks. The authenticator then signs the challenge and the credential is returned to the server. The server verifies the credential to see if the challenge matches. Once verified, the server stores the public key and the credential ID to the user's account. The next time the website needs to authenticate the user, the website obtains a challenge and a list of credential IDs that can potentially authenticate the user as the user may have generated several credentials for that website. When the website calls navigator credentials get, the user is prompted to complete the ceremony, the physical interaction with the authenticator. Once completed, the authenticator will sign the challenge and return the signature. Finally, the server verifies the signature with the public key. The user has been successfully authenticated. Security keys are an excellent choice for high-risk accounts or in enterprise settings. Having an additional device is warranted and easier to mandate in those use cases. However, this does not scale well to general consumer users. In fact, many users are already on other authenticators. They are Fido compliant and built into smartphones and computers. We call them platform authenticators. Platform authenticators usually integrate with a biometric sensor such as a fingerprint sensor or a camera with facial recognition. The ceremony performed on platform authenticators involves unlocking the device, which can involve a biometric sensor. Platform authenticators provided two factors in a single step. The user needs to physically possess the phone or the computer and they need to take an action to unlock it. To use a platform authenticator with WebAuthn, specify the authenticator attachment as platform and user verification as required on registration. The rest of the code and action is identical to the previous example. Since platform authenticators can verify user identity quickly, it's suitable for a sensitive operation such as making a payment or changing a password. Platform authenticators sound like a great solution to enable passwordless logging, but there are a couple of challenges. In the current Fido implementation, to authenticate a user, you need a list of credential IDs which requires that you know who the user is first. This leads to a suboptimal experience where we need to ask the user to provide their username before authenticating. Also, because platform authenticators are built into the device, they can only be used on the same device. Users may have to register multiple platform authenticators with their account to use multiple devices. Every time the user switches to a new device, they have to register its platform authenticator again. This means the website needs to keep an account recovery process available, a process which can lead to phishing attacks. This is a major blocker for eliminating passwords. To solve the username challenge, you can use discoverable credentials. With discoverable credentials, users choose an account provided by the device's operating system and authenticate locally to sign name, skipping username entry. This is made possible because an authenticator can remember the user account as a discoverable credential. This means in the future, you can create a super quick signing form where there is only a single button that invokes WebAuthn. This functionality has been supported in Chrome on desktop and other browsers for some time and is finally coming to Android later this year. To use discoverable credentials, pass an empty allow credentials object on authentication. Earlier, I mentioned you need to pass a list of credential IDs on authentication. As a server cannot predict which authenticator the user will use, you have to send all possible credential IDs. With discoverable credentials, the user can proactively choose the credential that is most suitable to sign name with. This allows the authenticator to create a signature with the private key. To resolve the second challenge, phyto credentials remaining on the same device, we have an exciting new feature called pass keys. You can consider pass keys a replacement for passwords, but they are phyto credentials under the hood. On Chrome, pass keys are synchronized across a user's Android devices. For example, if the user creates a pass key on a website on one Android device, the same pass key is available on another Android device as long as the user is signed in with the same Google account. There's no additional steps required for web developers to activate this feature on WebAuthn. With pass keys, users will no longer need to enter their passwords on new devices. This is a practical next step towards getting rid of passwords completely. Also, because pass keys are based on phyto standard, other platform providers such as Apple are working to enable similar functionality on their platform. But what if a user tries to sign in cross-platform? What if a user tries to sign in on a Windows machine, even though they only have a pass key stored on their Android phone? The answer is they can still use a pass key from their phone. When the user signs in to a website on a different platform for the first time, the WebAuthn dialog offers an option to sign in with a phone. By scanning a QR code, the user can locally choose an account and authenticate by unlocking their phone. Then the user is signed in on the other phone. The QR code authorization is required only once. The next time, the user can pick the name of the phone from the discoverable credentials list, skipping the scanning. And pass keys on Android will be available later this year. To see typical user journeys with pass keys, check out the IO session Android Authentication or App Developers by Jay and Diego. We are working on a code lab so you can learn how to build a sign-in using a pass key. Finally, you can learn more about FIDO and WebAuthn from Google slash FIDO. OK, it's great that WebAuthn is bringing the web platform closer to the passwordless word, but you can't remove passwords just yet. Because the development is incremental, there are compatibility issues and there might be users who don't have capable devices. Then, how do we secure a password-only website? What other options do we have? For your existing users with a password, adding a second step is more secure than just relying on a password. Many service owners, including Google, have already mandated a second step. The idea is to ask the user to enter a one-time password OTP in short that can be generated directly via an app or maybe delivered via SMS on an email. Sometimes this step uses a FIDO Authenticator such as a security key. This diagram shows how effectively different second step options protect a user from common attacks. The strongest option is a security key, so it's recommended because many users can now use their phone. But if the user already owns a phone with a platform authenticator, relying on pass keys instead of a password and the second step serves a much better user experience. It's more secure and it's more recommended. If you choose to allow an SMS-based OTP as a second step, be mindful that phone numbers are known to be recycled and hijacked. This method can make users exposed to phishing attacks. You can use Web OTP API on Chrome and auto-complete one-time code on Safari to optimize the user experience. The service provider sends specially formatted SMS messages which tell the APIs to provide the OTP for the user. This means the user doesn't have to leave your website to enter the OTP. Also, because the message includes the target origin, this method won't work when the user is on a phishing website. Both Web OTP API and auto-complete one-time code work on desktop and on mobile. Previously, I gave a talk about how to optimize SMS OTP forms. You can watch the video to learn more about SMS OTP forms best practices. Another secure authentication option without adding a new password is identity federation, which consists of standard protocols such as OpenID Connect, OAuth, or SAML. With identity federation, a reliant party or RP can delegate its authentication mechanism for user sign-in to an identity provider or IDP. The IDP provides an authentication mechanism to a third party. For example, a lot of you must have signed into Google iOS website using your Google account. That is exactly how identity federation works. Identity federation is great for users who don't want to create and remember a new password. But some people may be concerned that IDPs can learn which RPs that user visits, or they wonder if its third party cookie can be used for tracking. That's why we are working on a new browser API dedicated for identity federation called Federated Credential Management API, FedCM, in short. FedCM is an API that makes identity federation more privacy-preserving. Let's look at an example of a user journey that FedCM supports. Let's say your website is an RP. As soon as the user lands on the website, and if the user is already signed into the IDP, a dialogue pops up. By tapping on the Continue As button, the user creates a federated account and is signed in on the website with their identity provided from the IDP. This integration is designed with user privacy in mind. Because the browser mediates communication between the RP and the IDP, the user's sign-in state and their IDP account information is not revealed to the RP until the user agrees to sign in. Which RP the user is trying to sign in from is not revealed to the IDP until the user agrees to sign in. And most importantly, FedCM is designed to work without a third party cookie which could allow user tracking. We believe that this is a great first step to improve user privacy with the identity federation. FedCM is still at an early stage and we want identity providers to try it and give us feedback. You can try it by enabling a FedCM flag. FedCM currently works on Chrome on Android, but is coming to the desktop soon. And the WebKit team has expressed an interest in working on the FedCM proposal. You can now participate in an origin trial which allows you to enroll your website to enable experimental features in production environments. To learn more, visit Google slash FedCM. I'm looking forward to hearing your feedback, especially if you have any concrete third party cookie related concerns around identity federation. In this talk, we've covered a lot. Let me summarize. The ultimate passwordless word is becoming protocol with pass keys, which will be available soon. Meanwhile, since the transition is incremental, it's important to keep users safe by adding a second step for password only users. Using identity federation is also a great option to protect users. The Federated Credential Management API is proposed to create a privacy preserving method for identity federation. If you are an identity provider, consider participating in the origin trial and give us your feedback. I'm looking forward to seeing a word with a password soon. Thank you for watching.