what is going on guys welcome back to the channel and I appreciate you being here today I am back with another destiny video and today I bring users a loot and location from destiny one and destiny two now a lot of people are playing destiny one now so it only makes sense I bring users a loot and location for destiny one two uh so he is located across from the speaker's room within the tower simple as that let's see what he has this week of people okay so we have a legacy and gram costing 31 strange coins remember people this will only give you them a year one primary weapon so if you're after a year two primary this will not give it yet so don't be wasting your strange coins there titan we have the helm of inmost light costing 13 strange coins for the hunter we have the crest of alpha loopy again costing 13 strange coins it's been a chest piece we have for the warlock the purifier robes again 13 strange coins and again being a chest piece we have intellect under helm of inmost light we have intellect strength under crest of alpha loopy and we have intellect discipline under purifier robes weapon at a week we have the last word a beastly hand cannon one i'd love to do turn to destiny two probably won't ever happen but i'd love to see it exotic weapon bundles this week we have the my die multi tool and special ups costing 30 strange coins and 25 silver dust and we also have the trespasser and the fallen assassin this will cost you again 30 strange coins and 25 silver dust and we also has the usual bits and bobs right here so that is there's a loop for destiny one let's quickly go to destiny two now and i'll cut the video and resume it back there okay people so there is located unnecessary in the watchers grave area so you just want to spawn into here like i have done and then it's marking on the map so we know where he is so let's just really jump on my sparrow let's see what's the hat oh it's a wall there let's see what the haze this week people so let's go let's go let's he's up there on that train it takes me so long to get up here i can't remember how you do it this way this is um now to be honest i don't think there's anything i need from there i'm sure it brings on unique exclusive loot that'd be pretty cool imagine you did that i love that okay so this week we have we have all we have the fate of England which i've got like every exhausted in the games i'm not even going to waste my my legendary shards on that but we also have the prospector grenade launcher this will cost you 29 legendary shards excavation detonate multiple grenades at once we then have lucky raspberry chess piece for the hunter and probability matrix uh this will cost you 23 legendary shards also they may have the intermonetable school fort for the titan helmet again 23 legendary shards with transfusion matrix and then we have the aphidian aspects for the wall up these are gauntlets again 23 legendary shards cobra tatemic and then we have three coins which i've said they've buffed um they've actually fixed these that news come with the i think it was their latest weekly update i'm not even certain but i haven't tested these yet i might just do that for a video to come pretty soon but yes guys this is a loot and location for the second of the second 2018 i hope you guys enjoyed the video if you did leave a like it really does help me out thanks as always for stopping by and hopefully people i will see you on the next one


Thanks so much for having me. I know many of you have worked in related area, especially about two sided platforms. I really look forward to everybody's comments. Particularly grateful to Conrad for being willing to read a preliminary draft and discuss the paper and to entry for moderating the whole session here. So this work is joined with Genja and Liyada Webman at Iney Noise Institute of Technology. Just for disclosure, none of us have any substantial financial relationship with Airbnb. So this is a pure academic exercise. And the data we use on Airbnb is from a third party. So this really has nothing to do with Airbnb except that and they are the subject of the study. So we're motivated by the fact that platform is not only a batch maker but also a rule maker. We know many platforms are multi-sided on one side and they face consumers. This could be buyers, could be guests, could be viewers, could be writers, could be diners, gamers and the platform often sets some rules on these players. On the other side, we would have typically the supplier. They could be sellers, the hosts, advertisers, content app developers or drivers. So this is quite common for most platforms. It's also common that the platform would set different set of rules on those two sides. Typically the rule on the consumer side is, I will say, a light. For example, it could be very easy for them to register on the platform. They often face a low price or even zero price or even negative price. But on the other side, for the supply side, the rules are typically more explicit and sometimes heavier. This could be that they have to provide certain information for registration. They often have to pay substantial fee in order to be eligible on the platform. There might be some quality control like quality standard. And sometimes the suppliers even subject to sort of less ability to give feedback to buyers, for example, in eBay. So in this situation, although the two sides appear to be asymmetric in terms of rules, this asymmetry is making economic sense. For example, the suppliers would be willing to and subject to this relatively heavier rule because they know the platform are able to give them access to a lot of consumers that might be less costly to access as compared to alternative ways like having their own marketing team, for example, or reach out to potential consumers and so forth. So this works because of the positive network effects between the two sides that they're hoping when the platform are able to accommodate the consumer side that would help the supply side because of the positive network effects. Okay. However, recently we also see a lot of a lot of players, especially on the selling side complain about platforms. The typical complaint is, oh, the platform is sort of a bottleneck here. We are subject to pretty heavy rule from the platform which somewhat is unfair from the complaints perspective, but they feel like they have nowhere to escape because the platform already sort of control access to a lot of consumers. And they really wants to have somewhere to escape. So following this thought, the policymakers and academia people have been thinking about, okay, we probably should introduce competition at the platform level. If we have competing platforms, then the sellers or whatever the suppliers subject to a heavy rule from a platform will be able to switch to the competing platform. And that would be a constraint on the first platform. However, if we think a little more about this, we can see the economics is not that easy because for the competing platform to be attractive. It also must have the other side going forward. It must have enough concerns so that the supply side will be willing to at least choose the competing platform. So that means on one hand, we really want to understand the demand side. We want to know how the buyers, the guests actually choose to use which platform or maybe multi-homing on multiple platforms. And of course, we want to understand the positive network effects between the two sides. And we also want to know how the suppliers wants to consider their choice of platform and sometimes maybe multi-homing decisions. And in addition to all of that, we also want to be aware of that might be within platform competition. It could be even if all the players or most of the players decides to use one platform, they still need to consider how they compete against each other in order to appeal to consumers on the other side of the platform. So was that insight? In this paper, we want to ask the following research questions. We want to understand how Airbnb's 48-hour rule, which is a pro-guest policy. I'm going to give you more details about this. We want to understand how Airbnb's 48-hour rule would affect guests, hosts, and the platform as a whole. We want to ask question, pretty straightforward question, to what extent this rule would increase guest demand or decrease guest demand. Does it drive away a host or keep the host on the platform? Who is mostly affected and so forth? And we also want to know to what extent the platform competition will affect Airbnb's rule setting incentives. I think we have a pretty neat setting here that we know Airbnb is competing with verbal in the U.S. We have our data from 10 large U.S. cities. We can actually measure the local competition between Airbnb and verbal around each listing. So this empirical setting would allow us to understand the role of platform competition around this Airbnb 48-hour rule. And finally, we want to see what the insights from this empirical exercise would help us understand whether platform competition will really mitigate the related and the trust concerns, as I mentioned above. So just for the structure of the talk, I'm going to give you very brief literature review followed by empirical setting and some basic economics. Then I will show you the impact of the 48-hour rule and price, quantity and host dynamics. We're also going to examine the role of competition for the impact of the 48-hour rule. At the end, I want to show you some back of envelope calculation of this 48-hour rule for Airbnb's gross booking value. And if we have time, we can discuss the welfare implications. So in terms of literature, we know very well that economists have studied a lot about a symmetry pricing decision of a platform. The typical wisdom is that platform will divide and conquer and they typically would appeal to one side and give low price or even zero price to one side and then try to get an avenue from the other side. And the side they sort of try to appeal to typically will be more price elastic and probably more likely to single home, especially if there are competition at the platform level. And empirically, my previous work with Mark Reisman, we have looked at this pricing decision. We do find it's a metric pricing and it's very smart competition patterns in the context of sports car convention. So that's on pricing. Recently, we see a lot of literature on now pricing. Most of that literature is theoretical and some is also empirical. So for example, the platform may strengthen seller certificate and or impose minimum quality standard and platform sometimes may hide certain buyer information from sellers in order to improve match efficiency. And we also see series showing that platforms may have incentive to hide at on cost at noise in ratings reduced search quality or highlight high price offers in order to reduce seller competition on the platform and sometimes avoid repelling the sellers away from the platform. In many of these series, they make ambiguous prediction about the effect of platform competition. So hopefully our paper will buy some empirical evidence regarding the role of competition in platform competition. So just give you some empirical context, you know, Airbnb and has grown very fast as of December 2020 when Airbnb went public. It already has four million hosts, seven million listings across 220 countries, the total gross booking value in 2019 has reached 38 billion. And the Airbnb is pretty large in the absolute size. And if we just look at his whole unit listing, even as early as 2016, and it's only next to the largest hotel chain, which is mayor out international. And if we look at the shares of available rooms in the whole hospitality industry, Airbnb's share in that quote unquote market and has reached 4.5% in 2016. And in the US, we understand Airbnb is the largest digital platform for short term rental. And followed by verbal booking.com and flip key. It's very interesting to see that Airbnb actually was founded later than all these existing competitors. So Airbnb was founded in 2008, while verbal was founded more than 10 years ago, before Airbnb at 1995 and bookings was 1995 and flip key was 2006. So Airbnb was able to grow pretty fast and exceeding all these alternative platforms in terms of scale. In this paper, we noticed that there are two pro guest rules about cancellation on Airbnb. The first is that Airbnb actually would have automated mandatory and guest facing posting of host cancellation. So that means if you as a guest has a book of particular property, and the host later on cancel it, and that cancellation behavior will be automatically posted as a review by the platform on Airbnb. And this practice has been there for a long time. The other practice is a more recent after May the 1st of 2018, Airbnb adopts so called 48 hour rule. That means guests can cancel the reservation within 48 hours of booking if the reservation is at least 14 days away. I will give you more details about this particular policy. The important point is that both of these pro guest rules about cancellation, they are Airbnb specific verbal actually does not adopt these two rules. So that gives us an interesting comparison between Airbnb and verbal. So in this paper, we're going to focus on the effects of the 48 hour rule. So our data, our most of data data comes from air DNA, which is a third party that kind of scrape listing information from both Airbnb and verbal. So our data goes from 2017 January to December of 2019. And that's because January of 2017 is the earnest time that air DNA started to scrape listings on verbal. So we use that time and on to compare Airbnb and verbal. The data, and you can think of that as a listing month's level. We purchased the data from 10 US cities. So that's New York City, Los Angeles, Chicago, Boston, Austin, Atlanta, Washington DC, Seattle, Houston, and New And we focus on the whole unit rentals only because verbal only have whole unit rental while Airbnb have both whole unit rental and a private room or share room. So we're thinking that wholesale whole unit rental to be a separate market. So our observation at the listing month's level, we know the average price per night. We know the occupancy rate of this property in the particular months we know the total number of reservations in that month. We also know what kind of a guest cancellation policy day host adopts at that time. We know whether the host actually had any host cancellation reviews in the history of reviews and we know when this cancellation review had happened. We also know other regular information such as total number of reviews, average ratings, whether the host is a super host or not, whether the host offers instant booking or not. What's the response rate of the host, number of bedrooms, bathrooms, photos, minimum stay of the listing. More importantly, although Airbnb does not give the precise location of a listing, it gives proxy geo coordinates. So that allows us to define the local competition within a point three mile radius of each listing. We also can, I think AirDNA give us an indicator of whether this listing is a co-listing or not. We made extra effort to identify whether this listing is originally Airbnb or originally verbal. And if it's originally Airbnb when this listing started to co-list on verbal advice versa. So that's our main data from AirDNA. We also supplement this data using zip code business pattern from the US census. And that give us the number of hotels and number of restaurants per zip code year. And we use that to proxy the tourism activities in the particular zip code. In the earlier time, we also did some Google search to collect number of attractions, museums, seam parks and national parks per zip code. But because this is not time varying, it typically will be absorbed by zip code fix effects or listing fix effects. But the zip code business pattern will still survive because we do observe time varying number of hotels and restaurants. So that's our main data. Let me give you some sense of what I mean by host cancellation review. So this is an example of a particular listing. And you can see that's just a list of reviews. One that I circle in red here is a automated host cancellation review. The text reads the host canceled reservation two days before arrival. This is automatic posting. So this is a standard language from Airbnb. And this language allow us to identify whether this review is automatic Airbnb mandatory review on host cancellation. So just to give you some sense, about 11% of Airbnb listing months have any host cancellation review in the history. So that's a minority, but not a trivial fraction of minority. And if we follow Airbnb listing over time, we know having one more cancellation review typically would reduce the price by about 4% and reduce optimistic rate of the listing by 4%. So that means the host cancellation review is really regarded as a negative signal by guests on this platform. So we're going to keep this in the background later I will see this host cancellation actually become a tool that host can use in response to the 48 hour rule. So let me give you the example what I mean by the 48 hour rule. Suppose you book a reservation on Airbnb a month in advance. Okay. And the listing would subject to some guest cancellation policy. This is typically chosen by host, but Airbnb have some standardized definition of guest cancellation policy. And we can think of that as three types. It could be flexible, it could be moderate or strict. If it's a flexible that means the guests can freely cancel it until 24 hours before arrival. If it's a moderate, the guests can free cancel until five days before arrival. If it's a strict, then if the guests cancel seven plus days before arrival, they guess typically have to pay about 50% of the reservation price, and plus the cleaning fee. So, we're going to refer to flexible and moderate host at the loose host wall street ones will be the other group. And we have about 26% of Airbnb host to be strict host as of April of 2018. So, in terms of this 48 hour rule, before Airbnb adopt 48 hour rule, you can see that's the cancellation on flexible and moderate will be free. Within the 48 hours of booking, but the cancellation and still makes the guest to paid Airbnb service fee. Okay. But after the 48 hour rule, Airbnb has waived the service fee upon cancellation. And for the strict host before the 48 hour rule, guests can only get 50% of the refund, but still have to pay cleaning fee and Airbnb service fee. However, after the 48 hour rule, the platform basically require the strict host to honor free cancellation within 48 hours. So that means the guests can get 100% refund and does not need to pay the cleaning fee. And again, the Airbnb service fee will be waived. So you can see this change sort of have, if we can decompose this change, it has two changes. The first is, is directly affect the strict host, but not directly affect the loose host. For the strict host, this could mean less revenue and higher uncertainty and potentially higher operation cost. And it also makes the strict host and loose host less differentiated, at least in a dimension of guest cancellation policy. You may have a question of why the Airbnb host have to adopt this kind of cancellation policy. And that's because those hosts typically just run one or very few number of properties. So for the heritage hotels, hotels typically would have many rooms, they would have more flexibility to adjust if one guest have canceled, and, or if other guests wants the other rooms at the same time, they have a lot of room to juggle with that kind of uncertainty. And host on Airbnb because they manage very few number of properties, and this is harder to manage. So that's why most hosts actually adopt some type of cancellation policy. And in terms of why we think the strict host may potentially face higher operation costs after 48 hours rule. So then we give you example to suppose this is a calendar for a strict host. I use different colors to represent reservations by different parties. So some may have reserved property for relatively long time, and some may be quite short. If you look at the orange color here, so this is a party that only reserved for two days. Okay, and we have this property almost fully booked. Because that's typically, they typically the strict host would have a higher occupancy rate because they arrange more popular properties. So in this case, if this orange party canceled, then you can see that now you have those two days, empty and subject to future booking. However, if the yellow party already reserved this property before, and the blue party has reserved afterwards, the strict host must find another guest that just need this property for one or two days within these two days. So that could be harder to find, especially if this property is popular, and is sort of hard to move other guests around the same time. So that's why we think the strict host may face potentially higher operation costs after the 48 hour rule. So this differential change between strict host and loose host is the first major change by the 48 hour rule. Another major change is an Airbnb has waived Airbnb service fee for all cancellations within 48 hours. So that applies to all Airbnb host. So this is a absolute quality increase. If you think that way for all hosts. So this could raise consumers overall quality perception of Airbnb and make them more willing to book on Airbnb. So I want you to think about the 48 hour rule as two changes. One is reduce the distance between the strict host and loose host. And the other is an enhanced the quality of all host. So if we're thinking from the Airbnb's perspective, what are they trying to get from this 48 hour rule. We don't know exactly what's the objective function of Airbnb, especially how they trade off today's game versus tomorrow's game and so forth. So if you're thinking statically, the monthly Airbnb gross booking value per city, what depends on the number of listings on Airbnb would depends on average price per listing, what depends on average occupancy rate in the months and if the host resort to host cancellation would leave a bad mark on Airbnb and make consumers less willing to book on Airbnb. And that will be a loss for Airbnb. So that's kind of the very simple mathematical formula in our mind. And if you're thinking the economics. First, the guest may perceive Airbnb as a better quality after 48 hour rule. So that means they may be more willing to pay a higher price. And they may more willing to book on Airbnb so that could increase the price and increase occupancy rate. So if you think there's a positive network effect here, you have more guests on the guest side that could attract host to join Airbnb. So that could imply we have an increase in the number of listings. So that's the first economic force here. The second one is, and now we have potentially higher costs and higher uncertainty on the strict host, the strict host, some of them may be really upset by this role they did may decide to leave Airbnb so that could generate a decrease in the number of listing, or they stay on Airbnb but they now have to charge a higher price in order to compensate the higher costs and higher uncertainty so that could imply a higher price by the strict host, and accordingly the demand for their property might be going down. And if the strict host also use host cancellation more often that could imply the loss due to the host cancellation would increase. So that's the second economic force. The third one is that now we have less differentiation between strict host and loose host on Airbnb this could intensify the competition between them. And that could imply that the average price may be lower because the competition is more intensified and occupancy rate might be higher to some extent some listings on Airbnb may be squeezed by this competition and make the listing on Airbnb less profitable and some of them may decide to exit so that would imply a decrease in the number of listings. So I make this table just to give you some sense that we have different forces of economics going on here. And some may make the number of listings go up. Some may make the number of listings going down. So whether the net effect is up or down is empirical question, similarly for price and occupancy rate. Some forces may say the price should go up and some may say the price will go down. So we're going to sort of give you the net results from our empirical data. So to give you some sense of the data showing you the summary statistics of Airbnb and verbal. The price per night on Airbnb is slightly lower. The number of reservations is slightly higher in Airbnb but occupancy rate is lower on Airbnb. Host cancellation review is only available on Airbnb so we only provide the summary statistics for Airbnb about 11.5% of listings have any host cancellation review. In terms of the strict cancellation policy, Airbnb have about 26.5% with strict policy, while verbal has about 31.5%. In terms of co-listing you can see that's about 13% of Airbnb listings co-list on verbal, while about 39% of verbal listings co-list on Airbnb. We're able to compute the competition index for each Airbnb listing because we can say let's draw a circle around you about 0.3 miles radius. We can count how many verbal listings in this radius and divide that by the total number of listings that would give us the extent to which verbal listings is competing in this very local area and that average is about 0.124. So I want to say something about the strict host. The strict host in terms of price is actually charging a higher price. So despite they have more strict cancellation policy, they are able to charge higher price and that's typically because they manage more popular properties. And if you look at within the strict cancellation policy, the different bars here represent the number of host cancellation reviews they have here. So you may have expected a monotonic relationship here. However, we see a nonlinear relationship. Those that have one host cancellation actually have a higher price than others. And that's probably because they manage popular properties and they sometimes even if they cancel one, they still appeal to consumers. And because they're very popular, they probably sometimes will be more willing to use the host cancellation in order to manage the flow. So that's why we see this nonlinear relationship. You also see this nonlinear relationship in the occupancy rate that you see the strict host have higher occupancy rate and those that have one host cancellation in the strict host would have a higher occupancy rate. So more generally, the strict host are more likely to have popular properties, they are more likely to call list on Airbnb and verbal, they're more likely to face higher competition index. And many of them are more likely to operate in tourism area, and they're more likely to have cost cancellation reviews. So in other words, we can think of strict host product sometimes is higher quality because they manage more popular listings and their location might be better. But they are also lower quality other dimensions, especially in cancellation policy in guest flexibility and this kind of uncertainty guest must face. So that may give you some baseline results of the effect of the 48 hour rule. This is from the very straightforward the ID specification would compare Airbnb versus verbal and before and after 48 hour rule. So we can see that this 48 hour rule actually would push up the price in Airbnb by about 2.8% and at the same time, the occupancy rate would go up by about 2%. So that's the overall results. If you look at the loose host only loose host in Airbnb versus the loose host in verbal, we see that effect is even stronger. The price increase is about 3.6%. The occupancy rate increase is about 2.3%. If you compare the strict host on Airbnb versus the loose host on Airbnb, we can see that this demand expansion potentially demand expansion effect is less on strict host. Although the 48 hour rule has the most direct effect on the strict host. And still in the net, the strict host still enjoys slightly higher price and slightly higher occupancy rate after 48 hour rule. So that's the baseline results. We want to point to some caveats in this identification because we're using verbal as the control, but verbal obviously will be affected by the competition between the two platforms, and we can only identify the relative difference between the two. So that's probably a fundamental caveat in our method. We have a key assumption here that no other major policy change happening on Airbnb as of May of 2018, and that relies on assumption that the two platforms are pretty similar before this policy change. And we have tested this by pretreatment test. We also did some plausible tests and do not find any effect in this hypothetical plausible test. So if you want to see the raw data, this is raw data, you can make the judgment yourself. Okay, so the red line representing verbal, the dash line representing Airbnb, you can see that the two platforms are pretty tracking each other in listing price before the 48 hour rule. And then after 48 hour rule that gap between the two is narrowed, because Airbnb price is increased. So for occupancy rate in the below picture, you can see that the two track each other pretty closely, and then the gap is a little closer after 48 hour rule. So that's corresponding to our DID results. So that's just- Can I ask a question on the previous slide? Yep. So it seems like the gap only starts shrinking later on after the policy change. So I guess I have a question about why it's so gradual and it would actually be good to show separate coefficients for each of those to see when the effect stabilizes and how long it takes to get there. So I think that's kind of one kind of question. And the second related question I have here is there's other work that shows that Airbnb hosts are actually oftentimes not changing their prices. They don't even change their prices for an entire year. So then some understanding about why they're- What's driving the changes in the prices? Can you identify ex ante hosts that are changing their prices a lot? And is the effect coming from those hosts or is the effect coming from the hosts that are maybe more- have more rigid prices? But is this a big enough change that they've noticed it anyway? So those are coming to- Yeah, all very good questions. Yeah, we'll do all of that to our ability. Okay, so that's just on P&Q. You may also wonder about host dynamics. So here we're showing the results of a number of listings in a particular zip code by months, whether that changes before and after the 48-hour rule. Again, we're comparing Airbnb versus verbal. And this results show that the Airbnb listing goes down about 2.5% in a zip code. And we also ask who is likely to stay and who is likely to exit after the 48-hour rule. So we defined exit at not being active three plus months after the 48-hour rule. So these are just the summary statistics about the stares versus the exitors in their statistics before May of 2018. So you can see that those who exit seems to manage very non-popular properties. They have much lower number of reservations, much lower occupancy rate. They charge much lower price. They are less likely to be strict hosts, actually. They're more likely to have consolidation reviews, and they tend to be in the area of less competition. Okay, so that's on the number of listings. We can also ask the same question in terms of, okay, what's the number of cross listings? What about the likelihood of having any cross listing for a particular listing? And to what extent do they still use strict cancellation policy or not? So the results here is showing that the number of cross listings increased slightly on Airbnb after 48-hour rule. So that means Airbnb listing is slightly more likely to coalesce on verbal than vice versa. Okay, and the probability of cross listing is higher for Airbnb listing after 48-hour rule, and Airbnb listing is less likely to use strict cancellation policy. So this is a graph showing the adoption of strict or loose cancellation policy. This line is 48-hour rule. So you can see that after 48-hour rule, the above two lines are for Airbnb and strict and loose. So the strict one is going down over time. Well, the loose one is slightly increasing. So this suggests that some hosts may have switched from strict cancellation policy to loose cancellation policy. Interestingly, this trend is also appearing on verbal. So what the results I show you on the last slide is a relative difference. We don't know whether this verbal change is because of the Airbnb policy or just because of the natural change on verbal. So there are also some dynamics within Airbnb. So for example, if we ask whether the host will use host cancellation policy, we find the strict host after 48-hour rule actually more likely to use host cancellation policy. If we draw the picture for the loose host versus strict host, you can see the strict host is indeed much more likely to use the host cancellation policy. And recall that host cancellation policy is actually quite a negative signal to guests and could affect guests negatively. So this is sort of a very interesting finding, but something that we didn't expect a priority. So let me use the last few minutes to tell you what's the role of local competition we find in this effect of 48-hour rule. So these are the 10 cities we look at in our data. New York and New Orleans have the highest competition index and also New York has the highest number of listings. So the specification is very simple that we add a triple the ID here that's we interact the Airbnb post with whether the area is above median of competition as of April of 2018. Okay, so you can think of we divide every city into above median competition area versus below median competition area we want to see to what extent we have different effects of the 48-hour rule in these two types of competition areas. Okay, so this one I'm showing you say if we just look at the loose host on Airbnb and verbal, we look at the effects for above median competition versus below median competition. So you can see that the effect on PNQ, they're both larger in the less competitive area. Okay. If we look at the strict host on Airbnb versus strict host on verbal, again, we see the effects on PNQ to be larger at the less competitive area. So somehow the competition will sort of weaken the effects on PNQ. So we can see the effects are positive but less positive as compared to the less competitive area. So that's one finding. If you look at the competition's role in those dynamics for example in number of listings, we don't find any interaction effect on the number of listings, but we do find slightly positive effects on the number of cross listings. Okay, so we can see some of the cross listing effect is driven by the above median competition area. If we look at the cross listing likelihood or the likelihood of adopt strict policy, we do see the competition matters here above median competition area have more cross listing and increase and the same competition area have more decrease in strict policy. If we look at the cross listing and exit between strict host and loose host, actually we see the strict host is less likely to change their cross listing. And this is mostly because the strict host have been close listing, even before the 48 hour rule. And they are also less likely to exit as compared to the loose host in the above competition area. If you look at host cancellation in the above median competition area, we see that the strict host is more likely to cancel the host, I'm sorry, the strict host is more likely to use the host cancellation, especially if they're cross listing. Okay, in the above median competition area. Well, in the below median competition area, we see slightly an effect but less magnitude as compared to the above median competition area. So this seems to suggest that the strict host already cold listing. And after 48 hour rule, they may feel squeezed by the Airbnb platform because they're already cold listing. They may strategically use the host cancellation on Airbnb. Maybe they use the canceled reservation to appeal to consumers on verbal. So that's, that's one change we observe after 48 hour rule. So just to give you some welfare calculation here on consumers, we try to calculate the change of willingness to pay for Airbnb after 48 hour rule. We know less about the host cost so it's hard for us to compute a host property. It's hard to compute the host profitability. For the platforms, we can compute the number of listings. We know that's going down, average price is going up, average occupancy is going up. We know some increase in the host cancellation. So we can summarize this and change in gross booking values. In terms of consumers, we use a very simple utility framework. We think the utility may be a function of the price, maybe some listing characteristics and we allow this utility to increase or decrease for Airbnb listing after 48 hour rule. We separate Airbnb single listing versus cold listing. And according to the typical IO structure that we can estimate this utility function by looking at the market shares of the listing versus outside good. And we can use the parameters here divided by the parameter on price to sort of put a dollar's amount on the consumer willingness to pay for Airbnb quality increase after 48 hour rule. Okay, so I'm going to skip this. We use some private room price as IV for log price, but we acknowledge some attributes like cancellation policy or host cancellation reviews, and these could be changed by 48 hour rule, but we just use it as given we don't have instrument for them. Okay, to show you the results. These will be the coefficients, and that's basically imply that for Airbnb only listing they they perceived quality increase is about 1% of the price. They perceived quality increase for Airbnb cold listing is about two to 3% of the price. So that's sort of confirmed that consumers somehow have a better utility out of Airbnb listing after 48 hour rule. So for the Airbnb's gross booking view of gross booking value, we can compute the change of their gross booking value for each city after this 48 hour rule. And we show that this percentage change in the gross booking value is positive every city, but this is going down in the cities with more competition. So, so just to summarize everything here, we talked about platform competition before. And we can see that they, when the platform change their rules on the guest side. So in our case will be more pro guest and against host, we see one effect is the demands are going towards this platform. Okay, and this effect is weaker if there's more competition between platforms. The second effect we see is that on the supply side, we see more cold listing and some of the loose host actually started cold list on the competing platforms. So that's the second effect. We also see some of the strict host now use more host cancellation so that potentially lower their quality. So that's the third effect, both the second and third effect become stronger when there is more competition. And we don't find much effect about the, the positive network effects because we see the demand side is going this way, and we see a supply side is going the other way. So they're not going the same direction, at least on this margin. And it seems suggest that positive network effect is not as strong as maybe some of us have saw before. So just in summary, we think the evidence does not support the most stylized antitrust story based on the positive network effects. And we find the role of platform competition to be somewhat complicated. The supply increase does not always follow the demand increase. So this is against the positive network effects prediction. And we find the suppliers that mostly directly affected by the 48 hour rule actually they try to escape by host cancellation, rather than exit. So they stay on the platform, but they're sort of providing a relatively lower quality product than before. And we also see the within platform competition, although the 48 hour rule affects strict host directly, but most changes in exit and cross listing actually occurring on loose host, rather than in strict host. And the role of competition on the effect of 48 hour rule tends to weaken the effects on the consumer side on PNQ, but strengthen the effect on the supply side in terms of cold listing and host cancellation. And these competition effects could undermine Airbnb's incentive to adopt a 48 hour rule, according to our calculation. And lastly, there's a caution here that we do find a competition do not always undermine the progester rule. For example, for host cancellation and reviews, we find competition strengthen the value of host cancellation for loose host, but weaken the signal for strict host. So that means the role of competition is still probably rule specific. So that's all I have. Thank you so much.


Welcome everyone. This is the Jenkins governance board meeting. You should see my screen with a copy of the agenda. And let's get started topics that I've got on the agenda for today include news. Report of action items. Community activity. Including an intelligent test report experiment from Kosuke Java. Support plan and hacktoberfest and then governance topics. Board and officer elections social media posting guidelines or guidance. Azure credits. Oracle cloud and then at the end of the session and we will do this without after having ended the recording. Discussion with Damian to portal on infrastructure costs get his insights. We can ask him questions we can do further exploration, etc. Any other topics that you want to be sure we add to the agenda today. Okay, then let's go ahead so by way of upcoming calendar two days away. Next LTS is coming with no prototype with Java 11 end of life monitor and no support for red hat seven. Tomorrow we have a weekly release. And Jenkins officer and board elections are the major major item on the calendar. Alex and Uli anything you want to report there do you want to hold that report until later what's your preference. We can start ahead with that now I have no strong preference. Okay, so let's go ahead so voter registration has closed are we but I haven't seen any announcement of an election is that because an election is not needed. Yeah, you got the right mark that's a candidate for every open position. There's a candidate for the board, and there are all candidates for the officers. Everything says as is just with one note that Alex term, which ends on December the 11th. Yeah, I was, I was going ahead waiting you type without him. Yeah, all extra ends on November at December the 11th. And the, and the candidate for the board was Basil Crow and given there have been no contesters of other board members that have been. As it will be the next bottom of starting the day. Of December the 12th. Great. So Basel welcome to the board as of December, December the 12th. Thanks Mark. Yeah, but no December the 11 was just checking with my calendar. That's the first and last governance meeting we have this year in December. Okay, great. Thank you. And so officers as currently stand continue for another year is that correct. Everyone has been nominated and we have confirmed that they are willing to self to serve and yeah that stays as is. Excellent. Thank you. Thanks very much. Thanks to those who are present here officers Damien thank you for accepting and being willing to serve Kevin thank you for being willing to serve as well we appreciate both of you. Any questions or comments to to Alex or to Julian on the board elections. Thank you to the two of you for running the elections as well. All right next topic, big announcement here Alex received an award from GitHub at GitHub, you know, at GitHub universe they announced the GitHub supply chain Sentinel award was given to Alex. Congratulations Alex anything you want to share there in terms of what that how did you get that what did it mean etc. Thanks Mark. And back in December and January past year I participated in the close beta of the GitHub and advisory database as test pilot. I'm not sure how familiar, familiar you are with that, but that's basically a GitHub driven database of vulnerabilities. I'm very much fed with CV ease. And I have tried a few CV ease for Jenkins and was making sure the system works right. Nowadays we have a nice GUI and stuff like that. And yeah, a couple of weeks ago GitHub reached out to me and said hey, we have nominated you have nominated you for that award. Congratulations. That's great. Well done. Very, very well done. That's super in terms of action. One question and the database is for different open source projects and not for GitHub products. Yeah, right. Okay, it's a database. It's actually a language specific database hosting CV ease for go for Java and all the npm stuff. And it's not just one global database considered like CV ease for Mitre or something else. Okay, so but it's it's hosted by and maintained by GitHub so they've got people who are who are tracking the CV ease is the reported wherever and they make sure they're also represented in the database. Correct. GitHub has a team of security researchers actually try aging and reviewing CV ease fed into the database to have a more moderated system instead of having just one CV database. Everyone can submit anything to excellent. Okay, so so and you say they've got a Java a Java based segment or a Java based database that fits very well with Jenkins and you say they've also got an npm one so for our JavaScript components. Yeah, for example, they are currently 15,000 manually hand reviewed CV ease by the GitHub staff and more than 200,000 unreviewed ones people submit to them. And GitHub tried them to make sure the GitHub advisory database contains proper and correct CV ease, because like you know everyone can submit a CV basically and that is something a bit confusing, especially for smaller projects. So get upgraded something that is actually tried and can be monitored by GitHub staff. But the entire database is open source and you can just create a pull request if you want to fix something that is likely falsely flagged by dependent or something else. Oh, okay, so so this is there's a there's a process a public process to propose revisions to their database, not just a private process. No no the entire database is public. Thank you. Thanks very much any questions from others to Alex on the on the supply chain Sentinel award. All right, next topic then action items so I think we're done with the action item in terms of board elections is there anything that you want to note. Is there Uli or or Alex. Oh, I guess I do have one question will you do a do you want to do a blog post how do you want to hand how do we want to handle the announcement of of the results. Yeah, of course I think we should publish a blog post but and we should also publish that there is no vote of that of this year. Do something similar like we did last year, I think there was a blog post like four weeks or something before the term ended. And if we do that again this year, I think we should be all set. Great. Would it make sense in the future to first gather the candidates and then start the voting, because it's not two times in a row that we started to get new voters but we actually did not need to vote. It's a little bit strange if everybody submits a message I want to vote and then we came here sorry if there are no candidates. There is no election at all. So maybe we can for the next period we start one month earlier and try to find candidates and if we don't have more than one. It makes sense to start to don't start watching registration. Interesting comments from others that sounds good to me I don't see any downs I don't see any negative to that or is there anything that others would see as who by doing them in parallel we get some benefit that I'm not aware of. No, I 100% agree with only I think this year like 50 people or maybe 60 signed up for voting. And last year we had like an equal amount of possible voters and there was no vote. And it would definitely make sense to first run the candidates and make sure they there are more than one candidate per position, and ensure they are willing to serve. And if both is confirmed then we should definitely host the election because everything else like feels a bit wasted to make to enter people join the group and there's no vote. Good. Okay, so do I how about if I put an action item there is that one Alex you or really could take Alex or really propose. Do you request revising the PR revising the election process. Yes, I can do this. Okay, great to start to start one month earlier, or nominate one month earlier earlier, and only solicit voter registration only register voters. And there are, if more than one person is a candidate for each position for a position. Good. Okay, thanks. Excellent. Actually, I made a mistake that should go out to the top level shouldn't look like this. There. Okay, anything else on the election. The next action I am then was a Jenkins that I will pull request to converge sub projects and six. Sorry, still not done. Not likely in the next two weeks either but I hope by end of calendar year. Next one was Kevin Martens and Chinese Jenkins site Kevin you want to share with us the current status. I've been able to meet with Damian and Mark couple times now. We've gone over the structure of how the journey sites built and actually have some options is how we can take care of it and either remove or rewrite the path that's being used so I think we need we're going through right now building testing. We're going to need another session to just kind of go over our findings and kind of next steps but we're we're making a lot more progress than we have been previously. We're looking really good. Thank you. And we had noted this earlier that the Chinese site has already been removed from the Jenkins that I had our and I confirmed that's gone so great. Thanks Kevin very very much. Any questions for Kevin on the Chinese site removal. The next topic then is a draft proposal on licensing policy and phrasing changes. Sorry no progress and again, unlikely to make progress before end of calendar year my apologies this one's just not not top of my list. Any questions or concerns there I know we've we've discussed this one previously and I think we understand the concerns in the areas, and they're covered in the notes here. The last item on the action items was update the governance meeting GitHub repository with latest notes and I'll take care of that that one's easy for me to do I just got to get it done in the community activity section there was a recent developer a meeting list request from Kosuke Kawaguchi Kosuke asked noted that his company launchable has a product now, or a prototype that they're working on that is trying to help people understand what caused the test failure. And he's offered hey he would be willing to submit a poll request to the Jenkins CI pipeline to enable the feature if we're if we're interested in it. I'm open to conversation from others Kosuke is not here but he is a board member insights from others or ideas concepts. I've read the announcement but I'm not really sure how helpful is this feature is for my plugins. I'm not sure maybe it's more helpful for Jenkins core where we have a lot of more tests and a lot of more code and in a plug in. Yeah, I always thought all tests and it does not take so much time so. I think I agree with that as well really in terms of a as a plug in maintainer, even the plugins that I have with many many tests and spend a lot of time testing. Still their failure rate is quite small but that's because relatively few contributions, his proposal to Jenkins core I think is interesting. What I mean is the benefit is if if we find it's disruptive, we remove it, right it's an easy thing to have brought in, if, if he brings it in, then we have a facility to remove it. I'm not aware of anything sensitive in the public execution of our tests so I don't see any reason why it would be a negative for him to add it. I see a hand raised sorry I missed your hand raised. I'm wondering how much kind of issues it could catch between when we have agents that are going down due to infrastructure issue or tools missing compared to a real life test results. I'm not sure how much it can catch because maybe it's late in the process after that kind of issue could happen so I'm not really sure I just have a superficial meaning. But I believe it could help a lot to answer at least quickly the question a I've sent a pull request and it's failing is it because infrastructure did something wrong or is behaving weird or the network, or is it because I broke the code. I'm wondering if this could be used for that parts. I guess it needs some training on that but I see a lot of value here. Okay, good. Thanks. Yeah, I, as I'm, as I'm looking at I'm not. It's not immediately clear to me that it will help with that style of failure but if it's if it's large language model based and it's looking at things based on failures Jenkins core may may help us it may help us detect flakes or unexpected failures that then started working in with no code change. Yeah. Okay, so, unless there's an objection here I'd like to propose that I'll respond to close the case saying yes, the board discussed it and we feel like it's a good thing to go ahead. Any objections from the rest of the group. Okay, so I'll make I'll put a reply out with that. Is this action running on our infrastructure or is it data transferred to an infrastructure of launchable. I'm reasonably confident it must be transferring to launchable infrastructure because we certainly aren't hold hosting a large language model anywhere inside Jenkins right now. So I don't think he's proposing that we would take on the burden of hosting something like that. The way they do it with launchable is they ship we ship data to their data storage and they then do the processing there, and I'm assuming something similar here buzzle does that seem sensible to you the way I've described it does that align with what you might expect from something like this. It does. Okay, thanks. All right so mark to reply. That discussion that the board discussed and that discussed and agreed. Thanks. All right. Next topic was the Java support plan and there, the jet the Jenkins enhancement proposal is in progress. There's still quite a bit of work to do thanks to Basel Basel has detected some things that we really need to do to make this thing more effective. Let's get more details about what the transition means how we will do it in particular what does it mean to drop support for a Java version in terms of the actions we must take and when we take them. We saw a number of things that we learned as we added Java 21 that we can use they're fairly fresh in our minds. The last time we dropped a Java version was back when we dropped Java eight. And so it's going to need some some digging to find okay what are the things we do and what do we have to do. And there are some things that have changed since then that will need further discussion so further refinements are coming. Look forward to everyone's conversations there. Any questions or concerns or comments there on on that Java support plan. The blog post that we published. I wanted to make sure that I wanted to make sure that all of us were aware of the change I added to it. So I added a sentence in the bottom of it. Underneath the expected upcoming dates. Yeah that last paragraph about how you don't need to build your application with the same version of Java used to run Jenkins. I added this paragraph, just to make sure that nobody was confused about this because I think the last time that I wrote a blog post like this about a year ago. There was some confusion from some people about this point so I just wanted to highlight that in case you see anyone who's commenting who might be confused about this. I'm linking to the official docs that talk about how you could run a Java based build with some other version than the one that you're using to run Jenkins. So, I just wanted to highlight that. And I liked very much the contrast. Fuzzle drew a contrast in the blog post between alternatives where one was, oh let's just support all Java versions all the time three versions all the time. And that I think is just more than the development team those who are working on Jenkins can stand that's more than we can do the other was only support one Java LTS at a time, and that gets in the way of our enterprise customers enterprise users. So this compromise we're using is, hey, we'll got we'll support to at a time with this overlap period. Thanks very much, Uli thank you especially for your involvement in in the discussions back and forth. Next item was Hacktoberfest and it's finished. John Mark Mason has done a summary to the to the developer list and I believe a summary blog post as well. Nope, no summary blog post yet sorry. But what we've seen generally is about a 30% reduction in total submitted poll requests. And my personal perception has been as significantly better than 30% reduction in spam. So I consider digital oceans implementation has been a success for us. We got less spam this year and we got still a very reasonable set of contributions others comments from any others about that. Okay, next topic then we had a we had a, and we've talked the board and officer elections the next one for me was the social media posting guidelines or guidance what I wanted to do was raise a of the visibility on the question that Oleg raised he's not here today but I think it's worth us talking as a board. So Alyssa Tong proposed and followed all our guidelines proposed this tweet from the Jenkins Twitter account. And it's in honor of a United States holiday Veterans Day. But Oleg noted that hey he was worried that that's a US specific holiday that might be misinterpreted by people outside the US. And we had a conversation with a Belgian friend today who noted hey that day in Belgium is a day of mourning because of World War one and the terrible, terrible things that were in that period. So, the question to the board here was, do we want to give some additional guidance on how, how to handle social media posts. Right now it's a very simple policy. A post is proposed by one person and a plus one comes from another of the sort of social media team, it's approved. And this one followed those rules but do we need some more guidelines or are we okay as we are and don't worry about it. Comments. I'm not from the board but I had a good feeling when I saw the proposal and I thought about putting a minus one. But I thought it was too harsh. In fact, I wanted to make a detailed response about my feelings because I thought this was very US centric, you know, and pushing the Jenkins project to the west side of the world. So I didn't. I have written something down but I didn't want to hurt anyone's feelings, but I was feeling that this was off the Jenkins project. I know we already had some discussions about war in Ukraine. Some people we know were working in Ukraine so that may be different but there are also some wars in other places in the world but we don't say a thing about them. It's a tough subject and coming back to the Veterans Day. Yes, in Europe, it's more of a morning day and not something to celebrate. So yeah, next time, will it be considered harsh to say minus one or should I detail what I'm thinking about that. I think that would have been a, I think that's a valid response there and it would have been a nice safeguard. So I think a minus one in that case would be quite appropriate. Okay, thank you. Alex or Uli, any comments you want to make? Well, I'm trying to read. Don't use Twitter anymore. So yeah, maybe I'm too old for these things. So, yeah, when I, when I use Twitter, I wanted to see information about Jenkins as a development tool and not celebrating things. Yeah, holidays or other things. So this is one reason I don't use these things because there's too much information, which does not help me anything in my day. So, I don't have the time to read all these news. So I'm happy to don't look at it. So, yeah, sorry, Uli, go ahead. Yeah, I think it would make only sense for us to post things about the development or that we now support only Java 21 or something like that. I don't, it doesn't make sense to post any holiday comments or something like that. But this is my personal opinion. So I'm not so the guy used in social media. Others. Yeah, I agree with Bruno firsthand. I think we should minus one or minus zero or at least state if we don't feel well with the post before it goes out, rather than having a backslash on something. I also agree with Uli, I think our social media presence should likely focus on Jenkins or Jenkins related topics, whether it is development, whether it's something made some major new feature we want to talk about, or some contributor highlights if someone contributed something really cool that is actually a network for the project and for the people behind that, rather than I don't know holiday greetings or something like that. Okay, that's, I was, I was envisioning a list of holidays to do celebration on a knot, but I think you've got them, you and Uli have the much better idea of no let's let's make it interesting to developers so that it is it is developer centered, not just trying to generate noise. Thanks, good. Yeah, because if you ever start with Indian holidays and festivals will have a post just every other day. Sorry, Indian friends. Happy Diwali, by the way. Okay, great. Thanks. Yeah, as an example of the what I thought was a positive one actually was this post on the GitHub supply chain Sentinel award to to Alex that one came in and I thought, yeah, you know what that's interesting that was useful it had good things that could help the developer community that was directly related. Are you the rest of you okay with that kind of thing as opposed to hey a community member had this good thing happened related to to development around Jenkins. Fine with me. Yeah, this makes more cleanse. Great. Yeah, sounds good to me. I think posts like these are maybe more interesting for the people following the Jenkins account. But that would be just my idea. Okay, so how about as an actual mark extend guidelines to emphasize emphasize developer centric posts, rather than more social posts. That feels like a reasonable thing. Oops, great. Okay, thank you. Next topic then Damian processing the Azure credits donation so you had asked the question to the board two weeks ago which of the several alternatives and could you describe more this one. Yes, of course. So, as a reminder, the whole idea was to decide should we take the risk of moving our current subscription that we use for the CTF to a new one, or use two different subscriptions. If migrating is high, especially technically speaking, all of the permissions will be moved if we change. So the idea here that I propose is that I came with is to create a second subscription that we will use to consume the credits. And this is it for ephemeral war workloads, mainly agents on all the controllers. So that will just add a bit of overhead initially for the infrateam to create the new credentials on that new subscription had everyone as administrator there, but then we can pay for that specific subscription. Once the credits are exhausted, either we ask for a new world and had new credits or we close the subscription and migrate everything back to the original one. The status right now is that we have been focused the past three weeks on the new updates and the migration. The idea is to set up the work here to start before end of year to consume credits on the on that new subscription. The main target will be all the ephemeral agents we are running, whether it will be virtual machine from Seattle and Kinsayo or container we use for Jenkins releases. Thank you. Does it answer? Does it need clarification? Any questions from others? All right, thanks Damian. Next topic then was Oracle cloud costs and there the answer is no progress from Oracle and I'm sort of tired of asking them to make progress there. When they fix the thing will pay them and until they fix it we can't pay them so we'll see. Any questions on the Oracle topic. Damian your question. We will speak about billing and infrastructure billing. Is it something acceptable to maybe ask Oracle for sponsoring the project again that could help solving the problem and eventually gain us new cloud credits. It's an interesting idea. An interesting idea, particularly since Oracle just announced at KubeCon, a $3 million donation of arm 32 equipment or of arm 32 credits or arm 64 credits to CNCF associated projects. Well, I don't know if they'll be willing to give more having donated $3 million to CNCF and us not being associated with CNCF, but it's, I think it's a reasonable thing to ask and I'm going to go ahead and ask it. I will, I will certainly send submit the request. Hey, would you be willing to donate to the Jenkins project. Here are two examples of where places where you could donate a small one like this or you could give us a bunch of infrastructure and we'll happily use either. Great. Any other questions on the Oracle cloud costs. All right, then I'm going to go ahead and stop the recording and let's have our discussion about I can find my control.


So here at Rotoriot we are all about high performance first person view drones and we love pushing the limits of these machines and today we're pushing a new limit. I'm going to be flying a drone that is over 1200 miles away. So we've sent Jaboi Vortex over to Michigan to meet up with a company called SkyperSonic. SkyperSonic has developed a technology that allows a drone to be flown anywhere in the world from anywhere in the world. You can do remote piloting. So I'm still back here at our headquarters in Orlando, Florida and I'm going to fly a drone at SkyperSonic's headquarters in Michigan. We used to send our pilots to perform inspection or to train the customer and user how to use the drone and then when the pandemic arise we couldn't do that. So we needed to invent a platform, a software platform able to control the drone anywhere in the world from anywhere. Alright guys we're down in the front room of the Rotoriot headquarters and in the corner is where we have the Rotoriot SIM PC setup. That's an Apex gaming PC so it's super powerful and it's what we use to run liftoff and other simulators that actually run an Ethernet cable all the way back to our connection point to the computer so we can not be on wireless, get the fastest connection possible. I've got my laptop setup for a zoom call. So let's bring up Giuseppe at SkyperSonic and see if we can actually fly a drone remotely. Yaw is yaw, all the directions seem right. So it just recognized the controller I'm using. Absolutely. I'll set up for the Bat Shark 101 here. Okay so we've got the master code, I'm going to hit connect. Yeah, you can move, I can see the movement here as well. When I'm moving the sticks here. I see the stick here. Okay. You can turn on the drone, now the monitor is going to be showing you the video from the drone. There we go. I'll check in everything. You're going to fly it? So this is the live shark bite view. Yes. It's so crazy. Now I can, if you want we can try, you can fly that. Just see how you look like. I can take the control back if anything happens. So you can try to fly an FPV. So I'm flying your drone right now, right? So it's in the bubble. The ball, let me show you the ball. Yes, bring the drone here. So it's still five inch props. Yep. Five inch props. But it's in a ball. So I can fly it. It's in a ball. You can... Oh, we got lights. Oh man. It's in the future. If the servo on mountain heat you can go up and down, you can do it. It's useful for inspection inside pipes or whatever. Just give me like five degrees of up tilt or something. Five degrees like this? More? Yeah, like that. And now I put the drone here and I can take off and then give you the control. Okay. Now you have an altitude mode. So pay attention a little with the altitude because that's in the remote platform. So do I need to center the throttle? To the center. Okay.  I can... If you want, I can handle the throttle for the first flight. If you don't... Like that. Okay. He's a professional pilot. He's a professional pilot, right? This is the first ever flight from Florida to Michigan. This is it. That's a moment. Eight to one. It's yours. All right. Oh my gosh. I'm flying. I can't believe this is happening right now. What? Oh, okay. It's a little bigger than I thought. So that ball... That ball is pretty big, huh? I'm going to go through the door. Doing it. Oh. I'm going around the fork left. Oh. This is so... I can see your eraser. You're going... How does the leg feel? Yeah, there's some latency. Okay.  I can't be upset about a little latency when I'm flying literally across the entire country. Laura, the signal is going all the way to Europe. Oh, wow, really? Yeah. Our service is in Europe, but you're going all the way in Lithuania and coming back in the United States. That's crazy. I can see your eraser. It's like up the nerve. All right. So awesome. I mean, I got to try the pipe, right? So I'm supposed to be able to fit in there with this giant bubble? Yeah. Can you fit it in there? We made it. We made it. There's something to this bubble, guys. This bubble is pretty incredible. I can just... Yeah, yeah, because we can bump everywhere and just have any bubbles. Do you want to fly inside the office? Go, go, go, go. What is happening? Textbook people. This is insane. This is one of the most mind-blowing things I've ever done with a drone. Oh, I just blew some of your papers. I'm sorry. Oh, wait. Look at this. This beautiful cinematic. Oh, my gosh. I just want to set up a race course. We need to do remote drone racing for sure. That should be a good idea. Oh, my gosh. It's so... I think the battery is going at 14.2. You have still a couple minutes, maybe. Okay.  I'm flying right now. No, you're not. I'm flying right now in Detroit. Whoa. It's so insane. This is live. It's all, it's happening. Oh, my gosh. This is the craziest thing I've ever done with a drone. That was insane. That was so cool. That was cool. Oh, my mind is so exploding. Now we try the other drone. The racing drone. I don't know. Oh, my God. I'm a little nervous. The latency for navigation is fine. I mean, I was able to fly through the pipe. I was able to orbit the forklift. I was able to do everything I would need to do to do like an inspection or to explore or if I was remotely to like clear a building or look for lost persons. That's all totally the bubble. Now that I've experienced it, I'm a huge fan of the bubble. When I first saw it, I was like, I don't know about the bubble, but you absolutely need it because you can bounce off stuff, but it works really well, especially with the flight control software you guys have. I think if we try to actually fly in an acro mode with that latency, pretty challenging. But I want to see what we can do. So maybe I should probably just stay in the warehouse area away from people. Yeah. Just in the warehouse area. Take into account that if we move the server in the United States, we can drop the latency maybe to 25 milliseconds. That's different. Okay. Yeah. So all the way off Europe right now. Yeah, but you do have to go back in Europe. Come back. So it's kind of, you know, double time. How much are you having latency? What's the number you were? I couldn't see because I minimized the other window. But do you remember the number? 40, 45. 45. Great. Yeah, that's what we got. We tried from here. We connected from here all the way to Europe. So I think what we got to make sure it works before we go to the five inch drone is we got to make sure the goggles work. I'm just going to be unplugging my monitor. So I'm going to go blank. Yeah. I think you'll have to connect to the SDMI and put that screen on. This isn't actually plugged in anything. And I've just got an HDMI cable running straight from the goggles to the Rotorite computer. And now I am seeing on my goggles everything on the computer screen. Right.  Okay. Let's do it. It's you. You're doing it. You know what? This really helps. I'm not going to lie. This really makes a big difference. Like I feel it feels way more at home to me. Zipping around. Yeah. This is going to make some real good media for us. I've never seen the drone fly so fast. I want to like get in here and do the trench run. A little lower. A little lower. There we go. Star Wars. It's happening. It's happening. Up, up, up, up, up. There we go. This is some of the coolest technology I've ever seen in the drone space. Wait a minute. We're inspecting your... Yeah. You can inspect everything. Yeah. This is your thing, your box. Edgeman. Yeah. Air conditioning. So with the goggles it's much better, right? Yeah. It really helped me feel immersed and more like it feels more like what I'm used to. Well, let me land this and let's get our drone set up. Got it? Okay. Roughly. Amazing. Wow. It's insane. It's so crazy, guys. What have you done?  I want to try it full Acro. Let's see if we can do it. Let's go. Let's do it. Let's do it. I don't need to worry because if I crash it, I'm breaking it. I'm breaking it. Let's do it. Let's do it. Let's do it. I don't need to worry because if I crash it, I'm breaking our drone, not yours. Yeah, yeah. That's fine. This one, right? That's our CO1 outfitted with the Shark Bite system. Yeah. So you can connect right up to your infrastructure. Yeah. Yeah. It's already done because it's completely compatible. I'm just going to fly it. Just give them a little demo flying around without 45 milliseconds of lag and see what we can do. I'm going to give it to you. Are you ready? Okay. I know when I got it. All right. One, two, three. That's you. Oh my gosh. Oh my gosh. I took it back. I'm going to get you centered. Point me toward the warehouse. Okay. I'm going to get away from the people. This is going to be really difficult. All right. That's you. Okay. So I'm just going to do a little test here. I'm just going to do like a, oh my gosh. That's lag. Is it a little too much? We're going to get it. Oh, let me see if I can even do it through the screen. I don't know if you'll be able to do it because I can barely. Oh, I got to do that. If I can do my roll. If I can do my roll, it's a win. I can't even do it. I don't think you're going to be able to fly. You are seeing that with the same leg of him. Oh, I'm seeing it with the same leg of him. Okay. So it's going to be just as hard for me to fly as you are. So you may as well just fly. Let me do it. Let me do it. Ready? Three, two, one. Go. It's very hard. I know. Oh my God. Yeah. It's going to be tough. Okay. New goal is I just want to take off and do a roll. It's more difficult. Do you want to try an angle mode first? Nah. We got this. Okay. I like your positive. Three, two, one. It's yours. Okay. Roll. Fox. Oh my God. Okay. The timing is like near impossible. So basically, I'm going to have to just stop the roll when I've still got about 45 degrees left to go. Because when I let go, I let go when it was even and it went another 45. So I just need to, I got this. I can do it. Three, two, one. Roll. Let go. That's going to be hard. It's going to be hard. There's some reason why it's worse on this quad or is it really just because it's Acro and you have to like... I think it's just Acro, man. I don't know. It's crazy how big of a difference flying in angle mode made it. One more stop and I don't want to break the drone. You've been really hot the last couple of times. Like almost hit the ceiling on the takeoffs. Okay. Just like, you know. I'm going to just start lower. I just need to go up, roll, set her back down. And just... Three, two, one. Go. Nice. Oh! Roll like this. Oh, wow. That was the first ever in the world. We just did an Acro roll from 1,200 miles away. Mind-blowing. I mean, that's one of the coolest things I've ever done with a drone. Such a powerful tool. You know, I got my confidence really high being able to navigate around with the auto level mode. Really thought we were going to be able to just rip it around Acro. That proved to be very difficult, but we did end up getting the roll, which that's a huge victory. So I'm proud of that. I think what you guys have done is so impressive. This is incredible, guys. This changes the drone world for sure. Well, that's going to do it for today here at Skype Personic. Appreciate you guys. Thank you very much. Good to meet you. Next time I want to see this guy flying the C01. Yeah, but thank you. Thank you guys. Goodbye.


YouTube team keep it clean. What's going on? It's engraving here with another video and in this video Good morning. Shout out to everybody that came through for the live stream last night. We had a lot of fun Thank you to everybody that's been Subscribing to the channel rocking with the channel support in the channel. Thank you for that Thank you for everybody that's checked out the merch. I appreciate that Anybody that's donated and just everything. Thank you for rocking with us Now a franchise that has certainly been rocking Has been the Carolina Panthers and they have made many headlines really just the whole NFC South They just keep trying to one up each other every single day every single day. They just keep making moves Bucks of course with Tom Brady Panthers, of course with all the drama with Cam Newton Then Panthers with Teddy Bridgewater Falcons with Todd girly Falcons with Hayden Hurst Falcons with Laquan Treadwell yesterday It's like Saints with Emmanuel Sanders Saints with Malcolm Jenkins They just keep going back forth back forth back forth back forth and now Panthers strike again So I feel like this hasn't even been NFL free agency This has been the NFC South free agency because they've been the ones making all the moves Just competing with each other, but I love it because with the NFC South This I mean you want it with any division, but this this this thing can be really good It can be really good Cuz they've been make they all been making moves They all been making moves and at a time when it seemed like the Panthers were gonna go into rebuild mode Said nah, we we ain't doing that yet Even though they did lose Luke Keekley Greg Olson out of there Then of course Cam Newton is next I mean they they keep giving us all these signs that they getting ready to Cam Newton's about to move on and of course They gave the thank you to Cam Newton with do their social media and whatnot, but they just haven't officially done anything with them I don't know if they're waiting to trade them or they gonna just cut them out, right? We'll see but The Panthers they signed mr. PJ Walker What is it the Houston Roughnecks? I believe it's the Houston Roughnecks And he um he was a quarterback now I didn't watch much of XFL at all because with me NFL season That's good enough for me initially. I thought like oh man more football. This is gonna be great That's what I thought with the AAF I was like, okay more football. It's gonna be great But then I just I just didn't end up being interested in AAF then XFL came and I was thinking during the regular football season NFL season I was thinking oh man more football so we're not even really gonna have an offseason. Oh, this will be good But me personally, I just never had any interest in it But I know there's a lot of people that loved it and when I watched it I was like, okay, this is cool and I think again my favorite part about the XFL Was that WWE factor because I love the interviews right before those big plays or right after those big plays I mean, excuse me. I loved that part. I loved it because growing up as a WWF fan It just it brought that that funny element into that entertainment element into it But anyway, um, even though I did not watch much of XFL This is one player That I always heard about PJ Walker, I always saw people putting highlights of him on Twitter PJ Walker did PJ Walker that PJ Walker did PJ Walker that and When I would see some of the stuff that he was doing It reminded me Especially being a Ravens fan when I would see some of the different highlights and stuff And I know you cannot ever just go off of highlights but As a Ravens fan Seeing some of the stuff that he would do Reminded me of a Lamar Jackson Reminded me of a Lamar Jackson and I am very happy that He's possibly getting a shot Just because they sign him doesn't mean he'll be on an active roster just because they sign him doesn't mean that they'll make the team You just never know what could happen, but this is a start This is a start. This thing could go so many different ways It could go so many different ways. One of the ways that it could go would be that with the Panthers He shows that he's good enough. He stays with the team He stays with the team and he's Teddy Bridge waters backup and With that whatever happens with Greer is what happens with Greer but he could end up being Teddy Bridge waters backup and Being that number two guy now another scenario Obviously one that we don't want to well actually, you know what I need to say that if Teddy Bridge waters somehow just not playing up to par If he's not playing up to par and he for some reason would get benched He could possibly insert PJ Walker and boom What a transition from killing it in XFL to getting a shot to start with an NFL team that would be something or Another scenario this could be would be trade bait for the future They could bring up PJ Walker and he could do his thing He could show his stuff whether in this in this preseason and whether they sign him this year and Kept him this entire year and didn't trade him until next year or if a team just decided, you know what? We want PJ Walker this year and they they traded for him this year. That would be something serious now, man because if they if that would have happened if they got to see him a little bit in preseason and stuff Watching them closely and they like what they saw and they traded for him this year That would be an immediate come up for the Panthers and immediate come up for him, too Because again from XFL to NFL backup to possible starter That's a beautiful thing. You just never know You just never know, but I am happy that um, the exit is he the first XFL guys getting a shot at NFL They think so don't quote me on that, but I do believe so So this is a good move. I'm I'm with it, man. I'm with it. I hope it works out for him big time and this is good and Along with the way that a lot of the NFL's quarterbacks are nowadays having being a Being able to do a little bit of both Being able to throw the ball and being able to run with the ball to as a quarterback That can help That can help Some people say oh roll running quarterback. They they're never gonna make it. They're not gonna last blah blah blah But they actually got the higher chance of lasting than an immobile quarterback Because the quarterback that's not mobile that pass rush comes in they can't do anything They just got to stand there and watch it happen. It's the saddest thing to see But a mobile quarterback that pass rush comes in he could make some people miss. He can protect himself So with PJ Walker, I just um, I Hope you just definitely gets a legitimate opportunity to show his stuff And I'm not expecting him to be the starter for the Panthers like right away anything like that Maybe not even this year or next year blah blah blah, but I Just hope he gets a shot But this is a start so good job Panthers Good job. And again, you just never know how things could work out so Like PJ Walker With them Roughnecks like he had to tell him once he signed that deal with the Panthers I'm out


Hello, I'm DDS Davens. In this video, we are going to look at the new feature of my PE check tool, namely the locate option L option. So let me show you how PE check works in normal circumstances. So you just give it a PE file and so Windows executable, PE check. And I'm going to give it my XOR search tool and then it does the analysis of the PE file containing my XOR search tool and displays you all kinds of information. And you can, for example, have options to say I want an overview of the sections and then you have all the sections. Now, if you run this tool on a file that is not a PE file, you will get an error, like a PNG file here. You get another error, dos header magic not found. That comes from PE file, the module for PE files developed by Ero Carrera that I use here in my PE check tool to read PE files. And so it doesn't recognize the dos header. So that is the MZ header that you have at the beginning of PE file. And if we check with file, sample, indeed, it is a PNG image. Now that new locate option. Locate option will find any PE file in any binary data that you give it. So it will search for the dos header MZ, then the PE header, and then it will parse that piece of data that is inside the file. And if it can parse it without errors as a PE file, then it will report that it found the PE file. So let's do this on sample. So locate and uppercase P means that you want an overview of all the PE files that it finds in the file that you give it. Okay, so this is a PNG file that I manipulated. I appended two DLLs at the end, as you can see a 32 bit and a 64 bit DLL. And that is something that malware others will do regularly. They take a B9 file format like an image or a PostScript or a PDF, and then they append their malicious payload, the PE file here at the end. So with PE check, you can get an overview of all the PE files found inside that sample. And they receive an index so that you can select them to work on. Here, this is the first byte, the location of the first byte of the PE file. So the M of the MZ here starts at 2 EBB. It's a DLL, a 32 bit DLL. And the DLL without overlay, so the PE file without any overlay goes until position 16EBA. So that is the last byte of that DLL. And here you have the MD5 hash of that DLL again without overlay. This here is until the end of file. It's something that I probably will change later on in PE check because I've experienced that this is not very useful. So you can forget about this. This is just each time the last byte in the file. So the last byte in the file and the file is at position 270BA. And then here you have a second file and you can see it starts at 16EBB. And here you have 16EBA. So that means that the 64 bit DLL that was found is found immediately after that 32 bit DLL. And here you have the end of the PE file without overlay. And you can see that it's 270BA. And that corresponds to this 270BA. So now you know that here the PE file without overlay at the end is the last PE file and also the last sequence of bytes that you find appended to that PNG file. And then again here the MD5 hash without overlay. I also have variables, environment variables that you can change that you can set. Sorry if you want something else than the MD5 hash here. For example of SHA256. Now, if I want to analyze one of those files, embedded files, I just have to say locate the first one and so the 32 bit DLL. And then PE check will do the analysis of the file. For example, an overview of the sections like this. And of course I can do the same. Locate the second file in the sample and then it does the analysis. And here you can also, for example, overview of resources. Okay, there are no resources. Overview of sections. Here are the sections and indeed there is no resource section so there are no resources. Now say that you want to extract that file, to do something else with that file. Not only have PE check analyzed, but for example if it is a file, a PE file, that is not known on VirusTotal. Maybe you can decide to submit it to VirusTotal. So sample here. So I have this first file that I want to extract. So I'm going to run PE check, locate the first file and I'm going to tell it to get something from that file. And what we want to get is the complete file, the complete stripped file. So the PE file without any overlay. So that is SS stands for stripped. And if you do that on sample here, you will see that you get an ASCII dump. Sorry, that's a wrong command. Let me fix this like this. And if I say uppercase A, then I will also have an ASCII hex dump, but unlinked and coded. And let's pipe this through less. And as you can see here, you have the MZ, the header, the DOS header, start of the DOS header. Here the PE and then the sections. So that's an ASCII dump. You can also do a binary dump like in most of my tools. Now the small difference here in PE check with many of my other tools like only dump is for a binary dump, you have to use option D, but uppercase D. And that's because lowercase D has already been for a long time assigned for another function, namely a database of PE ID signatures. So that will give you the binary data. And then you can say, for example, sample.exe.vir redirected. And then you extract that PE file from the PMG file. If I run file here on sample.exe, and indeed you can see that the 32-bit DLL has been extracted. If I calculate the hash, I have this here and let's compare this. And indeed we have the same hash here.


So similarly you know just like we have talked about length right we talked about how to calculate the bigger length how to estimate the smaller distances similarly masses also there are methods to calculate the big mass there are methods to estimate the smaller mass okay the kind of mass we are dealing with is this you know the smallest mass could be the mass of the electron okay so the size we are dealing with with respect to mass is the mass of one electron and the range of mass could go up to let us say from electron the mass of the observable universe is 10 square 55 kgs okay indirectly you can find milky way galaxy mass is roughly 10 square 41 kgs okay so 10 square 55 kg is roughly the mass of the universe okay so we are dealing with a huge range 10 square minus 31 till 10 square 55 kgs and there cannot be a direct method to measure the mass of electron you can push you can put a electron over here and put a bar over here okay fine electron is this much okay there has to be some indirect method the way we have derived the lengths using the definition of angles and using such experiments there are some indirect method to calculate the mass also okay for example the method to estimate the mass of the earth you know that earth will revolve around the sun in 365 days so just by using that information you can calculate the mass of the earth okay there are ways we'll talk about in gravitation chapter oh using the angular yeah so yeah okay the humans mass is given as 100 kgs here anyways so we are not getting into details of how to measure indirectly the mass I'm just telling you we have we have introduced how to measure indirectly the length similarly there are cases to measure the mass indirectly and likewise there are method to measure the time also okay now the range of the time we are dealing with is this you can talk about let's say the ratio of longest to the shortest time interval we're dealing with is a about 10 is for 41 okay so the range is huge okay so you cannot use clock every time to measure the time also by the time you measure the time you yourself have grown and died out getting it you can't put a clock and start measuring okay fine let me sit here and measure the time itself all right so that is why these indirect methods are very very important okay so this is with respect to the measurement of length measurement of mass and measurement of time okay next we're not getting into the measurement of other fundamental quantities but next we are talking about some of the very important aspects of the measurement whenever you measure anything there is always used to be an error associated with the measurement yes or no yeah why do you think you are taking multiple measurements in the lab because you don't know what is the exact value you don't know so you what you're doing is okay fine let me take the multiple measurement then i'll take the mean of it and i'll say that is my roughly closer to the value okay and why do you think you have steps of conducting experiment step number one check this step number two do that step number three you write the record right step by step you write step one step two step three which is very boring thing to do but why you have to do it in that manner to prevent to prevent the systematic errors for example if we we have always this habit of let let us say we all the time we ignore the zero error you know what is the zero error you don't know suppose suppose we have this hat habit of looking at things like this okay then we'll have parallax error for example if this is the let's say this is the pointer this is the scale on which i have to measure something if suppose i have to see where this chalk related to the scale so if i have this habit of measuring like i feel as if chalk is coinciding with this mark so i'll say this is the length and if i if i have this habit of looking from there the chalk will coincide from here so i'll say this is the length okay these kind of errors can be removed easily if you follow step by step manner of doing the experiment there will be one step where you have to be like looking at it right from the above don't look at sideways things like that okay these are the precautions which you have to do all right so these errors which you can remove you remove it by step by step conduction of the experiment okay but there are few errors which you cannot remove okay so there will be error all right let's talk about the errors little bit so whenever we talk about errors there are two kinds of errors okay write down okay that now i have to start asking you to get out random and systematic okay now have you heard of these terms accuracy and precision what is the difference same thing same thing so why two words she's correct in a way precision and accuracy i'll give you one example you tell me what is precise and what is accurate or we can say what is not precise and what is not accurate here i here is the first example there is a student who always get 27 marks out of 30 in their school ut always okay and the kind of error this person does suppose seven chapters are asked he does in first ut he he made an error in chapter number one second ut he made an error in chapter number three third ut chapter number four next ut chapter number five other ut chapter number seven are you getting it so these kind of errors he's making but he made sure that only three marks are gone and he's getting 27 out of 30 again and again okay this is example number one example two is also a student who is getting 27 out of 30 but he's always making error in let us say calculating the distance using parallax method unit one same error unit two same error unit three same error four till all the ut is making this error getting it now tell me which is which you can correct easily first one or second one second one second one you exactly know where is the problem you'll correct it and he'll start getting 30 out of 30 okay what about the first person you can't do anything it is in his blood you get 27 out of 30 no the thing is that aja we're talking about accuracy and precise who is more precise in getting 27 out of 30 both are the precision aja tell me who is more precise in making error second who is who is very accurate in measuring in making the error okay you have not understood okay let me give you another example guys let me give you another example here is you've you've played the dart ball this is your bingo okay and there are two players okay this is one and this is another dart ball okay now player number one is scoring like this this is player number one okay player number two is this who has precision but not accuracy who is precise and who is accurate second one is precise first one is accurate so now tell me what is the difference between accurate and precise accuracy is closer to the accuracy is closer to the true value and precise means precise means the same value is getting repeated precisely okay now which player you want one or two huh why why would you want to if you aim once at the center you're always going to get the same but you can't aim at the center that's why he's getting those okay how many of you want player one okay how many of you want player one only one person you also want player one not accuracy yes player two almost everybody else okay so of course there's a reason why player two is making this error there's a reason understood but there's no reason why player is doing this player one is doing this are you getting my point maybe player two is aiming from one eye only and if you tell okay listen you have to aim from both the eyes and start getting once he start getting it here then he is beating player one hands down are you getting it he has to just shift this in this direction of it are you getting it okay player one very difficult to improve precise can become accurate very easily but accuracy cannot guarantee your precision I'll give you one more example suppose you have two clocks okay clock number one suppose you are taking reading when it is exactly 12 when it is exactly 12 you're taking readings of the two clocks okay clock number one reading is like this 12 o 5 11 50 12 o 7 11 55 this is the reading of clock one okay every day at 12 noon these are the readings of the clock one clock two this is the reading 10 10 9 59 10 4 1 which one you want clock to decide to you're good clock two you just have to rotate it a little bit put the hour and at 12 when it is 12 are you getting it but you can't improve this understood more precise more accurate precision always trumps the accuracy so but uh if when accuracy tends towards the like the the true value doesn't it become more precise like if you add your player one yeah so if he got closer and yeah if player one is like this then he's both accurate and precise then there's nothing to improve on okay so keep this in mind the difference between accuracy and precision