Hey everyone, welcome to theCUBE live at VMware Explorer 2023, theCUBE's 13th year of covering VMware customer conferences. Lisa Martin with John Furrier, John. We've come from the keynote, lots of talk about multi-cloud, lots of talk about gen AIs and big folks on stage. We're going to be digging into a lot about the ecosystem, which you know of VMware is incredibly important and deep. We've got two guests from Wipro here. Mahesh Chandra, the SVP and head of Full-Stride Cloud joins us and Ramu Padmanaban, VP Full-Stride Cloud Solutions at Wipro. Guys, welcome to the program. Thank you, thank you very much. Give us a little bit of a background on each of you. Mahesh, we'll start with you and then Ramu will go to you. Thanks Lisa. First of all, thanks for having us here. My name is Mahesh Chandra. I head the Full-Stride Cloud for Wipro for Americas and I'm responsible for all the cloud business. Just 20 seconds on Full-Stride Cloud, what it made about April 2023 of this year, we brought two of our key service lines, cloud and infrastructure services, and we put digital and cloud together to give one integrated cloud to our customers, partners, alike. And you know, VMware is one of our key cloud partner. That's why we are here to demonstrate our partnership in full scale. Good, we're going to dig into that. But Ramu, first tell us a little bit about you. So let me go next, Lisa. So I go by Ramachandra and Padmanaban, but I think so it's pretty long. So I go by Ramu. Thank you. Right, and that's what you can call me. And as Mahesh said, I'm also part of the Full-Stride Cloud services team, but my job is to actually really drive line solutioning. So I make business value to our customers. You heard today in the keynote, a lot about the ecosystems and how do you really bring in. So that's my job in Wipro, work very closely with customers, with partners, and truly orchestrate and really bring business value. So that's my role. You know, Ragu's always been a great Cube guest. He's been on the Cube many times. Even before he was CEO, he's a technologist and seeing the CEO of NVIDIA up there, Jensen and Ragu. They're smiling like they're kids. Like, you know, they just discovered something and they're giving away a G-Force, you know, graphics card, kind of throwback. And it's memorabilia. I mean, we're at an age of tech where it's there. But one of the things I loved about Ragu's speech was his focus of AI was awesome. We believe in the same thing, but he laid out the waves. PC wave, oh, this is our generation, right? PC wave, PC apps, the web wave, web apps. And then he jumps to mobile, which I thought was interesting. That's fair. Mobile was a great ecosystem. iPhone created the world of mobile apps. And then he jumps right to AI apps. This is what's happening in the enterprise right now. Every single enterprise sees departments. He laid out the chart up there too that showed the impact, not just a chat GPT consumer thing. There's real departmental across the board impact for every single enterprise. That means new apps are coming. And they got to land somewhere. This is a huge opportunity and a challenge as well. This is the market for enterprise AI. This is what you guys do. What's your reaction to that?  Is that business good?  This is what you guys do. Yeah, I think you're absolutely right. It was a great keynote and the six innovations which is coming. We are very excited by it. And actually we are also very honored and proud to be recognized by VMware and Raghu. As a key partner, it means a lot to us. And let me take one step back. Earlier this year, our CEO, Thierry Delaporte, as part of a journey to being a AI-first organization, right? We're going to become an AI-first organization and announce an investment of $1 billion, right? To actually do what? To actually increase our capability on AI, okay? As part of this, we have launched what is called AI360, which is an ecosystem that will bring together with pro-technology and our advisory across our four global business lines, platforms, research and development, and your IPs along with partners and talent all under one umbrella. That's the beauty of it, right? And how are we going to do it? You know, if you have an innovation hub, Vipro innovation hub, which we call it as Lab45, we'll play a key part in it, okay? And as we speak today, you know, what we are doing is all the 250,000 employees of Vipro are getting trained and certified on GenAI 101 and responsible AI, okay? And this is very serious for us in terms of, you know, if you look at our CEO, senior management, to an engineer, everybody is doing this course, everybody is excited, they're saying, hey, we have done it because we believe GenAI has that capability as well. I just want to touch upon, you know, Don and Lisa on our relationship with VMware, right? You know, it's very unique. And why does it unique is? Well, hold on, before you start there, I wanted to just point out, you guys are recognized as the key partner. Yeah. And congratulations on that. Thank you. And the brand that is well recognized and it's on the charts, everything. So congratulations. But if you plan more, how'd you get there? What was the key to success? Yeah. So just today, VMware has been there for 25 years. But our partnership with VMware has been for 21 of those years. Wow. It's been very successful. We have got go-to-market solutions together. We go together on the virtualization on the cloud. As I said, they're a key cloud partner. So today, we are the number one partner for VMware for all Tanzu-based application modernization projects. That's number one. We have over 500 press-joint clients together. Okay? And on five of our FSC cloud centers, the full-strike cloud centers, is actually built on VMC. Okay? And as I said, we have a strong 21-years-press relationship which is really built on trust, you know, executive-level presence. And we have made some inroads in 10 years. We have built some industry-specific use cases and we are taking it to our customer. So we are a little bit ahead of the curve. And you know what? We are very confident when Hawk mentioned that of the two billion, one billion will go to the partners. I think we are very strongly there to get a major share of it. So a strong, long-standing partnership has such as you talked about, 21 out of the 25 years of VMware's existence. It sounds like a deep, broad relationship. You talked about JNAI. You've got some use cases there which we hopefully will get to.  What do you think the next three to five years looks like? So great question, Lisa. So if I really look at it, right? This year, 2023, has been the breakthrough year for a lot of us, right? If you look at every conferences that you've got to, JNAI has been the hot topic, right? And what happened? Obviously, the Chattivity that came into everybody started utilizing it. We all started becoming the training to that public large language models, right? And truly, if you really look at it, that's all about in terms of how, as users, we are able to unearth the power of what AI can actually bring in. But is that something that the enterprises will truly get in? So let me unravel that and you heard a lot in today's keynote as well. If I really look at it, it is an ecosystem play and we need to have a lot of the ecosystem players for enterprises to be successful. So let me put that in perspective, right? So if I look at the bottom of the pyramid is all your infrastructure and the orchestration vendors like VMware, that's where you have the large compute storage networking that comes in. You saw the power of NVIDIA and VMware coming together. You have the AI chipset vendors that are truly bringing in the compute power of the GPUs that makes it much more easier, flexible for everybody to actually really look at it. Then you have the large language model providers. Now that's the brain behind a lot of the investments that will go in by enterprises because they want to make it much more private. They want to make it very unique to them that addresses a lot of the privacy concerns that you actually saw today, right? Then you would have a next set of layers is where developers like us needs to get evolved and the engineering practices of looking at how can you use these AI practices into a truly looking at how to develop it, how to deploy it, how to monitor it and how do you truly bring the responsible AI into practices. All needs to be laid a good foundation and that's when you'll see the uniqueness of the applications, whether it is the horizontal applications that are larger in size that would be use cases that will be there for every large enterprises to adapt to it or you would have vertical domain led, right? Now this domains like healthcare, you ask me a question around what kind of areas and where are we actually really looking at it? Healthcare, CPG, manufacturing. So this is where you learn how unstructured data can actually really bring in. So in my view, the next two to five years is an inflection point. You would see that where many of those AI apps will actually be working in conjunction with the existing vendors that are going to be there. Everything will be a maker checker model, right? And that's where it's going to be a very interesting time. Can you give an example of where the customers are at right now in their journey? Are they kicking the tires? Are they coding? Because you're seeing a lot of acceleration even in the startup world, for instance, as a comparison. It used to take 10 people to get the company at a certain level to start founders and then you get the 10 people, mostly engineers, now you can do three people. You're up and running. So the speed is there. Are customers that far along? Are they playing with it? What are their concerns? Is it more architectural scoping? What are some of the activities that customers are going through right now? In my view, John, customers are today in their labs looking at the right use cases that are there. So we're looking at every enterprises wherever there are large volumes of data that's going to be there. We're actually working very closely with our customers, basically. So we have these AI labs that you have where we've built in a lot of use cases. Good amount of knowledge miners are already available now, right? So we're actually focusing on that. And this is not something new that's happened this year. As a company, we've been there and Mayesh will talk a little bit more about some of the work that we've been doing with our customers, as well as some of the researches that we're actually trying to do about it. But to briefly tell in terms of where the customers are leading to, this year will be where we are actually putting the foundationals in place. A lot of architectural decisions in my view will happen in the next six to eight months, basically. I'm sure you guys probably can't talk about the intellectual property, but you guys are known for executing operational workflows on behalf of customers. I'm sure you're using AI internally to go faster. Oh yeah, because just add to what Ramu was saying. The technology is there, because I work with a lot of banking customers. They know their technology very well. But it's the productionization of it, similar to what we had the self-driving cars. The technology was there 10 years back. But how do you bring into production? It takes time. So I believe when it comes to gen AI, the technology is very much there. I think we go to take it responsibly. I think that's where I think Ramu said, the next two to three years is going to be key. So I think it's going to be very exciting as we embark on this journey as well. Definitely not a dull moment. Mahesh, can you double click on something that Ramu was saying in terms of the work that Wipro is doing with customers? How are you working together with them on gen AI use cases? How are they really helping to influence the direction that Wipro is going with respect to gen AI? So it's in two aspects, rightly. One is if you go back about 10, 15 years back, automation was a very big thing. And there's a lot of automation platforms came, but tools came. But what is important is the use cases. The way approach we are also doing is we are working with a lot of our partners and customers building their use cases. Because if you have a right use case, that is when they can see productivity. That is when they can see innovation. That is one fact we are doing. And just head back to what Ramu was saying. For any enterprise to be successful in gen AI, you've got to look at the four layers of the stack. And I'll tell you why Wipro is uniquely positioned in the gen AI journey and where our relationship with VMware is going to succeed in gen AI as it has done in the cloud and other thing as well. If you look at the foundation layer, as Ramu mentioned, it is about compute storage network. So we have great relationship with hyperscalers and hyperscalers as well as orchestration like VMware. We have a lot of solutions where we have gone to the market and together and we will continue to do it. And then you have your model players. What do they do? They are the one who are actually giving access to both your commercial as well as your open source in a foundation models like your NVIDIA as well. So NVIDIA is a customer of ours. They have a partnership with us. So we play a key role in that as well. Then you go one level of the stack is where your AI engineering is coming. This is where the entire model engineering, the model lifecycle comes, where we're going to deploy, where we're going to do development into gen AI models. And we pro, over the last few years because we have invested heavily in AI and now with the new investment from our CEO, we are going to build a lot of capabilities and practices and we will be at the forefront of this. And lastly, I mentioned about the gen AI apps. You said like what Ramu said, moving from one to the other. So we have a lot of institutional knowledge in the apps. We will ensure the use cases are relevant to customers and we take those gen AI and harness it to the customer. That's where we play a unique role under a partnership with VMware. We'll definitely take us to the next level. That's a great point about that whole ecosystem and the partnership with VMware that you have. You know, one of the things that Raghu didn't put on the chart was the cloud apps, but I can understand he's a non-premise guy. I get that. I would have put a cloud apps in there, but gen one cloud apps, we say gen twos here. If you look at the API, what clouds did for APIs, I see a similar thing with AI, and this comes back to the ecosystem and Ramu, your piece, which is the technology, LLMs and foundational models will be data driven because data is AI. So data and API, people sharing data, the role of ecosystems, not just VMware, but connecting things. If you look at the LLM model, it's not one model to rule the world. We reported that first, but now that everyone's agreeing that's basic obvious now. You got different LLMs. The on-premise dynamic with data is there. You got public cloud AI, which just use cases for that. Edge is going to have some action next. Runtime is the multi-cloud. That's what was set on stage. So, Ramu, what's the LLM picture look like? Because, explain like, because you got hyperscalers have LLMs, you got proprietary LLMs, you got open source LLMs. How do you guys look at that? How do you advise customers about the LLM power dynamics or the, we call it the power law? Now, absolutely. And I think that this is where a lot of our work, right? As I would call them, we call ourselves now as an orchestrator now, not as a system integrator, right? Because the whole focus is about composability and how do you actually create this engineering to figure out as to which is the LLM that I will have to really be adapting. Because as what you saw today in the keynote, the four key aspects of it, right? Is it about in terms of the choice of the model? It is about the cost. It is about the performance. And how do you make it affordable as well, right? So if you can, if you really look at it from that perspective, as you rightly said, a lot of researchers happened on the public LLMs that's now becoming commercialized. You would have a lot of R&Ds that are going on with an open source LLMs that are there. But truly if enterprises needs to be having those huge data sets to be thrown, we need to have proprietary LLMs that would be there. Now, these proprietary LLMs needs to address and God rail a lot of it. And to that, John, if you really look at it, we're trying to create that decouple model. We're trying to make sure that as an engineering practice, we have the ability to choose. And for us, this is not new. As a company, we've invested in AI 10 years back, basically. The last four or five years, even before the open AI came to the market, we've been working with Academy in terms of really building algorithms that addresses that, right? With the University of South Carolina, we've done a lot of investments with Indian IITs, basically, right? And we've tried to bring together all of this in place. So that's where I see LLMs becoming that linchpin, I call it, right? To make an enterprise successful, basically. Just add one analogy, if you don't mind, right? You spoke about multiple LLMs, and I'll also say how a player like VPros, being on the AI engineering, can help. I'm talking about fine tuning. So we had two models.  And then the use case was created. I can't get to specific, but I'll just give you a very high level, is when you did your prompt, GPT 4.0 is a success ratio, when it generated the content was 76%, whereas on Palm, it was Palm 2.0, it was like 16%. A little bit of fine tuning, guess what the success ratio went to, 86%. That's the beauty of fine tuning, and that's where I think we will play a key role. Good point. Excellent. Guys, thank you so much for joining us on the program today, talking about Wipro. What's new there? What are you doing with VMware? And why this partnership with respect to GenAI, it's going to be really attractive to customers. You said you have 500 joint customers. Now I'm sure that's only going to grow. We thank you so much for joining us on theCUBE today, guys. Thank you. Thanks for having us. Our pleasure. Thank you very much. For our guest and for John Furrier, I'm Lisa Martin. Stick around, there's more great content coming from day one of our live coverage of VMware Explorer. We're going to be talking with VMware executives, partners, customers, analysts, you name it. Don't go away. You're watching theCUBE, the leader in live tech coverage.


xcept for those last two catering thing and the medical marijuana dispensary those are my my recommendations where to get rid of those but you all can keep me if you want I'll be strong other comments we need to do it okay great I guess we're gonna close the public hearing then and we'll hear from you again probably at the July meeting which I will not be at I'll make sure that okay right should close first reading and set second reading for July 25th so what we're doing we don't want to get rid of the fees either we'll protect you the gas stations yep yep so we've closed the first do we need a motion to vote we always have okay by unanimous consent without objection closing the first public hearing setting the date for the next one okay and on to the strategic plan okay just vote to prove it we did send out send this out to you electronically and then I believe there's I got a hard copy did anybody else know no I thought Jamie was handing them out oh well sorry got some comments which we've incorporated from a couple of you and attempted to take the policies and priorities that you had set in our workshop and lay them out into functional work we still need to add the dates and deadlines we want to make sure it's the work that you want done this will then drive our next our agendas for the next few months those will now start showing up and I probably will be the person when new ideas come up that says that really wasn't on the the plan how do we want to fit that in but that's why we did the work up front Bill can I ask if there was any work that the city is doing right now that you had kind of taken as like of course we do this that you don't feel is represented in here and no I mean generally we didn't really list all the services we had that maintained city services but I don't know I was just I didn't feel like we were missing anything but I also wanted the advice of the manager but we also pushed the staff they were heavily involved in this too this year and so I think H.J. also really appreciated and so they tried to put forth their key issues and I think the hardest thing for us actually was you know we'd get a sort of long list of activities and for us it was really sorting through what are the real action items and what are things to consider when doing the action items some of these are just ideas like actually just one we talked about for example was about the living wage requirement the action is really bringing you a report on it but to do the report we've got to figure out what does it mean but we had our first drafts like all of those are different steps we're like no we're not going to track all those steps the step is but this notes what needs to be in there so any suggestions this will also are in Visio software and as a public dashboard so people can see progress on at least the big topics Donna well I really loved having everything in one place got lost in items no way could I edit it I'd love to have the final product in a little booklet it was really and the way you put things into charts really worked for me so I appreciated the work well it was really set up by a combination Julia Novak's firm and in Visio that they worked together to set it up and then Jamie did all the work you know the setting it up helping draft it and so it was really so I don't know if people want to sit through this I made some note I thought this was great having the work plan we actually have paper big enough at my office to in a way that it can be please just give your comments to Bill are they well no they're not some of them are kind of substantive so I'll just hit them and see how people feel about them is it just on that page because I can draw it up here it's on all the work plan pages and the way printed out I'm sorry it's not necessarily the order that we have on the plastic bag I would put other single use plastic items into that study on the question this is a technical question on using local ash trees that are being removed or energy I would like to make someone to make the determination that it's safe to do that not the effect of spreading ash faster if we do that energy prosperity I am the problem being solved is listed as lack of jobs, vacant store fronts and the shrinking grand list and I had a question is the grand list shrinking I didn't think so and probably static maybe and with regard to the store fronts vacant store fronts I don't necessarily think of that the concern is being limited to retail space I think there's probably other unused space that is worth looking at office and residential space in the downtown area so underutilized space yeah in the in the strategic outcome housing area we have a measurement of success 150 new housing units for all ranges I would I don't know if there should be a specific number but I think that we should be looking at targeting housing for low and moderate income people I just took that number straight out of them the economic development strategic plan it was the only place where we actually referenced that number doesn't I have there's no nothing to that other than that so if you guys want to change that that's fine there was no should we if we don't agree with something should we say something can we just get through your list I think I only have one other thing which is in the topic of encouraging more resident engagement with government this idea for a few years several years because my daughter-in-law participated in something like that when she lived in New Haven and I just have like a community service job fair have some kind of gathering where we actively recruit people who live in the city to come out and volunteer to be on boards city boards and non-profit boards and get all these entities and we need community volunteers together in one place and really make a push so we're not always in the position of city publishers opening there's one applicant for it and I think you know there people put in a tremendous amount of volunteer effort but I think there's probably other people who aren't the usual suspects who if they were asked would also come up I think that's my list okay comments on those any of those items yeah so in terms of the the first one I think which is right now is banned plastic bags that is my number one priority right now I'd be comfortable adding like an explore banning other single use plastics but as a sort of primary I think we were all clear that it was plastic bags I actually am so because of the process that we're likely to go through in terms of getting a charter change I think we're actually more likely to get the charter change passed if we limit our conversation to plastic bags and then once we have the charter change you know we can maybe have that conversation because I don't think the charter change is going to be just specifically about plastic bags does that make any sense maybe I'm too so I think can I read so I think maybe what Anna is saying or at least my sort of take on that is because I've thought about that too is the charter change would allow us to regulate those things right or to abolish or something maybe it would say you know maybe the charter change would say something like single use plastic or you know however we structure the language and we'd have the work done on the plastic bag piece to start the work on the rest because of what the charter change said so rather than sort of trying to do all of those different things that once focus our efforts on one thing the charter change will allow for in theory would allow for all of those things to be examined and for the city to potentially regulate and then maybe on any notes we could consider other single use that's fair and in terms of the number of units comment I had a meeting with Harry who came and presented to us and it sounds like there's actually a pretty compelling argument to create market rate units as well and so I just I want to be mindful of that and I don't want in any way like I just don't want to signal to anyone that we're not exploring market rate housing so I agree that we need to focus a lot of effort on low and moderate income housing but I also think that there is a demand for market rate housing and I just don't want to write that out of our housing and that was actually if you look at the initiative above that you came up with it said develop a strategy to address housing shortage and ensure housing for all incomes and stages of life so that was the goal we were trying to hit was on Jax I'm going to assume that silence is okay so I had a couple things that I wanted to comment on as it references the net zero energy goals it doesn't actually say what the net zero energy goal is which is well to be producing as much as we consume renewably in the city of Montpelier on free major transportation there are three major energy sectors by 2030 so I just wanted to make sure that somewhere we say that so that's one thing there was a section about communication I would just love to suggest as an action item that we explore the pros and cons of the app known as C-Click Vex which is something that Burlington has where you can geotag pot bowls or graffiti or whatever it's expensive and it would probably require staff time to be monitoring it so I'm not necessarily convinced that that's something that we need but I would love to have a conversation like how far out of our range is that or is it something that's so valuable that we should step up and do that Bill there is something that D-P-W has the pedestrians were using it the bicyclists were going to start using it to report well if they get a call someone calls they record they have a system where they enter the complaint and keep track of it this was electronic and I can't remember the terms I'm sorry about it they were trying it out and they were going to start with the pedestrians before they I'll check with them but I think under the notes it wasn't as expensive more resident engagement explore C-Click Vex I think there was a section I'm not looking at it too many tabs open but there was a section on parking so I just want to put out there I would love to see this might be a bigger ask than making it sound right now but I would love to put out on the action items something about reverse angle parking explore reverse angle parking or find an opportunity to try it or what's your thought about that Bill I don't have any problem with that but in fact the two areas that you identified as top priorities were dealing with the loss of parking during the construction and basically dealing with the parking garage so we didn't talk about other exploration so I don't know where that falls we have talked about wandering off the path here too far with the union elementary school playground construction and we've talked about okay well should we redo that road well we'll be hearing about possibly closing it for a period of time so it can be used as a playground and when it's done it used to be a two way street we've made it one way it's still too wide for one way so people don't always follow it so could we narrow the street up or could we put more angle parking because there's such a parking crunch there so that could just be let's try it and I would love that and I want to make sure that it's supported if it does take public education and a little bit of FTE time it did come up in the main street scoping it is one of the suggestions to try on main street so I'm trying to think if there's any better place that that fits under complete streets yeah that's true fit it there that's great and one other actually a couple other things one is I mean we had something about expanding recreational areas I just want to put forward the idea that the river itself may constitute a recreational area and I don't know how to say that exactly in here but I just want to recognize that that may be an opportunity for expanding recreational opportunities and also just as a part of that I just want to also make a note that I think the river conservancy has a I mean we had from the river conservancy here a few weeks ago talking about the facing the river approach to development and I would I would just love to engage them somehow in a way of like maybe doing a little thinking or a little visioning about what we could be doing so I just want to sort of seed that idea right now see where that goes okay so I have one we do have as an action item which we probably would engage someone like the river conservancy develop a plan to improve existing riverfront access from Gateway, MHS, bike path, rec field etc well maybe that's already covered that sounds good to me you know there is I'm sort of intrigued by this idea that came up during our conversation with the rec department and the senior censor in talking about working through the non-recreation needs of non-seniors and so what do non-seniors need that is outside of the scope of the rec department and I didn't know where to put that I mean I know we're doing this feasibility study about the rec building or updating the rec building and so like it's sort of inherent in that like what are the needs of the community but it sort of felt like maybe that could be an action step in terms of thinking through those needs when you're saying non-recreation needs are you talking about non-exercise right well just whatever would be not falling under the rec department right now so what might that be it might be easier to think of I'm having trouble imagining what you mean so I mean it just has some examples I mean I think of needs that say young adults in our community might need around like financial literacy or like the educational needs of like young mothers as they're like trying to figure out what that is or single parents even or I mean it's something that we've talked before like what are the community needs community needs are like affordable childcare of families you know like there's a whole bunch of things that I can just imagine might be appropriate for our community services department that are not recreation what are the gaps in community services and not specific to seniors and I don't know that we can depend on the feasibility today to do that for us that's about a building right it's perfect for the social equity community right but actually though I just want to put in one more plug for like I would love to maybe this is a social equity thing as well but like thinking through how are we addressing energy issues for renters yes whether there's a split incentive or not a split incentive but we can come up with a program with green power great if not can we look at tax did that get a lot of dots not get a lot of dots bring it up again get a lot of dots maybe I'll just like really get that hopefully into the committee just saying still in my radar that was fine I just wanted to say it out you're sneaking it in the back just pushing on it if you're going to do that then I want my tag sale what's that I'm so in favor of tag sale I think it's great I don't get dots I don't know thank you for enduring my comments I'm off to thoughts or comments on objections silence is implicitness so I think if that's the case then with those changes you should formally adopt it so then we'll give you a cleanup version but you should adopt it because then that becomes the policy of the council and further any other people just one final thought is that as we did all these tours we all kind of made this discussion about like wouldn't it be nice to have a Montpelier day where everybody got to see all the services that the city provides and I don't know that it's a high priority to do but I would sort of it seems like it's feasible in the next year to do something like that so I would just like to mention that as something that we might support I love the idea of like a Montpelier day where we're featuring city departments where maybe this is also we can combine that with like the job fair community service fair community services fair where we're like you're the committees that exist and maybe we can do a tax maybe we can have a tax with your councillors and coffee with your councillors sure anyway open to that idea I don't know how much but I also realize that this is our work plan for the next year and we didn't want to lose that because it just seemed like something we all really so what I thought was that Council Member Krueger would head that up I don't know right we can plan it for next spring we'll keep yeah we can keep talking about it we should schedule among the construction as sort of a good feeling day that's my top of the year yeah after closed down construction I mean there's no further comments so you want a motion to that would be good do you want approved or adopted I just say that you adopt it as part of the changes discussed tonight so my motion would be that the council adopt the strategic outcome and priority activities as edited second hi great thank you all thank you for doing the process and going through this great this is a great list I'm excited about it okay so I think that is the end of our regular business year the one here is not an exact process it is nevermind okay council reports let's start with Donna I would like to announce that the complete street committee is inviting all citizens of Montpelier and nearby friends and neighbors to rename the popular recreation path that travels along the Winooski river from Granite Street to Junction Dog River Road open July 1 and go through September 3 there are going to be forms online as well as distributed there is going to be a box in City Hall to put your form in and there is going to be a $100 gift certificate from Onion River Outdoors so look for name the path contest sheet or go online and find it after July 1 can we get a link to that on our main page to make that easy is there is no criteria or limits or off limits it is all in this sheet it is a wonderful form that Jamie worked with Gary and the committee to put together and just the other thing I have a granddaughter that I have to pick up from a babysitter and I am going to be hard pressed to be here much after 1030 okay I don't know if it is totally appropriate I would like to express disgust for the U.S. Supreme Court decision today Janice versus AFSCME which effectively makes Vermont a right to work for less states and I think it is appropriate just to show some appreciation for our public employee unions here in the city they make our city a better place I will be at Baguitos again tomorrow morning 830-930 to show up and talk I have continued to enjoy and learn from that experience I also want to mention that because I know not everyone is a breakfast sort of person and because a lot of this really is for me to figure this job out eventually I am trying to find people to take a walk with at some other point I have walked with my friend John Snell not too long ago and also with a couple of other folks whose names are escaping me because it is too late but I will be looking for people to have conversations with about how I can do this job better how Montpelier can be a better place and if you think you have ideas come find me be careful including you John anytime you were the one with people I forgot sorry Kyle so I hope to see lots of folks out at our parade for anyone who has ever joined me in the parade for city council on parade day it is the most fun thing ever and I am assuming we will be in the same place that we were last year I think I still have the banner from last year so I hope that there are other council members who are planning on joining us in the parade because truly a hill takes parade seriously so I hope to see lots of folks out on the streets that day and there is lots of other activities going on that day too I think there is stuff going on at the state house and there is plenty of things going on here in town so hopefully everybody can get out and see the things that we are doing here in town I made my family delay leaving for a vacation so I could be in the parade oh yes it is a great experience it is it is so fun I have been in the parade so many times but this is a new thing for me as a council member I had two things one is that I am hearing some comments about proposed route changes for green mountain transit and obviously my pillar city council does not get to tell green mountain transit what to do but I wonder if there is some role to be had and at least ask them to come and talk to us about it and then the other thing is a comment directed to anyone who is still at home watching the meeting which is that there is a phenomenon that I have noticed that if very often someone comes to the city council meeting to talk about a specific item and once they are here they realize that there might be two or three other items on the agenda that they are interested in that they also step forth and address the council about and that makes me say folks come out to your meetings and because we want to hear from you they are even more interesting if you are here in person if you are watching online on TV I wanted to thank Jamie Granfield for putting up the new committee application online she has made some revisions to that folks information is going to be a little more private their personal contact information and I really appreciate her quick turnaround on that while we still get all the information that we need to make good decisions so I think this is great progress there is something else I wanted to thank Jamie for and I don't remember so I will send her an email I also wanted to say that since school is out this is a really hard time a year for kids who rely on school meals for multiple meals a day so I noticed that Jess Basics put out a call for food pantry donations because they do see increased need at this time of year and then I also wanted to point folks to USDA's Summer Food Rocks website which is a finder for a summer meal site nearest you and I know folks in the city have been working really hard to make sure that the meal site here in Montpelier happens again this year and it seems like hopefully fingers crossed it is going to happen but it's I just want to bear in mind that this is a hard time a year for those families and to make that resource available I think that's it So I want to say a quick congratulations to the Steeble Montpelier Coalition as well as the Vermont River Conservancy they just got a gigantic grant a candidate foundation so they can be empowered to do a lot of work soon I'm so grateful the candidate foundation seeing fits a invest in our community and just a reminder that I will not be here at the July meeting so I may weigh in early on some things that I know are going to be on that agenda so there's that and then just on a other more general no I just want to say the news lately has been so difficult and so bad that I mean we all deal with it in different ways and so just a reminder I have grace for each other as we all deal with difficult news and I just want to say that I'm so thankful for all of you I mean one of my ways of coping with difficulty in other political arenas is through focusing on what we do have control of and that is in our city in our community so thank you for all of you and I'm thankful for this city and we don't always agree all the time but I appreciate that we can have such direct interactions that change here thank you for being a part of that just to note that early voting for the August 14th primary actually began this afternoon I took my first vote so that's happening overseas request should be on the way by Friday deadline also the sort of ad hoc non-citizen voting working group met last week and came up with a rough draft of a possible charter change we bounced it over to Dan Richardson to lawyerize and there's going to be another I haven't put this out there yet but there'll be the next big community meeting will be 6.30 on Tuesday July 24th and yeah I'm clearly in an advocacy position so if it does get on the ballot I will recuse myself from certifying the final vote just a couple of things before we have anything we do have tomorrow is our TIF application before Vamont Economic Progress Council it's a fairly lengthy day the mayor is spending most of it Sue and I will be involved in it most of the day any of you are welcome to come in especially the afternoon part there's no formal role for you it's not points against us or you if you don't come but it's open and if you'd like to see what's going on that's that we have a group to talk about some of the parking pressures and I think even some root stuff Ken Jones resident but also state official has been kind of leading it it includes someone from national life people from the downtown people from GMT city of course state BGS about the short term crunch that we have but also what some of the changes are going to be and we are looking at there's a good possibility of at least one not too remote lot being secured in fact we're in final stages with that I can't really announce it yet but it's close and then how can we use maybe reroute the shuttles the schools are involved in this as well they're talking about maybe using some public transit to meet some of their older kid transportation needs so could routes be set to coordinate looking at how could the circulator fit into this the capital shuttle how could all that be done and are there other strategies that can be used so it's coming together we've been meeting about once a month and I think every meeting progress has been made and there's actually actions have been like I said securing the spot for example have been so we're finding our way through okay so we need to go into executive session this is one of the ones we need to find no I move pursuant to one VSA section 313A2 we're going to executive session is there a second? second you say aye aye we will not be returning


In this episode, I'm going to be teaching you guys everything about math related to idle games, and I'm also going to be showing you how to code them properly, and I'm going to show you the difference between the big double math equations and the traditional ones, for those who don't plan on using big double. Hello everyone, it is Crypto Grounds here. Welcome back to another Unity Idle Game tutorial video. This is episode 2.2, and today I'm going to be showing you some math stuff. So if you enjoyed this video, make sure you smash the like button, subscribe to my channel if you're new, turn on the bell for future notifications of videos and live streams. And if you want to support me, check out the links in the description below. Anyways, let's hop right into it. So first of all, let's just hop on the Desmos. So Desmos is a really good site to graph equations. I use it a lot when I plan out how I want equations to grow in my games. So I have a bunch of equations here. So what I'm going to be showing you guys is linear. I'm going to show you guys some square roots. I'm going to show you guys polynomial stuff or powers. I'm going to be showing you some exponential stuff. I'm going to show you guys some logarithmic. Gosh, I hate saying that word. I'm going to be showing you guys some logarithmic stuff. Yes. And yeah, so I'm going to start with linear. So linear, obviously, is just a straight line. There is no form of growth. It is just a constant linear straight line. And it just goes on forever. Now just a good basic example for using in a linear equation would be, for example, clicker heroes, like how many enemies you have to kill in order to move on to the next stage, just something simple like that, like it increments five every stage. That's basically just how it works. So it's just a straight line, really, really easy. Okay, so square roots are good for prestige formulas. They're probably the most common related to those. But it basically it's a curved line. How it works is the same thing as x to the power of a half. So like this, you can have a format like this, or you can have the square root symbol. And I'll show you guys how to do this in the code later on. But it's basically just a curved line. And instead of linear, you know, it grows slower. So yeah, this is good for diminishing returns.  So polynomial equations are really good for costs. So just basic costs like upgrade. Okay, so next is the exponential equation. So this one you got to be kind of careful with because if x is too large, it'll pretty much explode. But basically, this equation right here is telling us that for every x, y is going to be doubled. So if we do two to the power of two, it's going to be four. If we do to the power of eight, it's going to be 256. So it goes really fast. Okay, so now for the log. So log is basically the inverse of this exponential equation right here. So if you look at it, it's pretty much the same shape, just flipped over the x and y axis like that, which is really cool. So basically, instead of growing super fast, and now it slows down much faster. It's just like a square root, but it slows down just much faster. It's like it's almost a straight line. So these can be good for some prestige equations, or some boost that you want to diminish very fast. So now the one thing I know about logs is that you got to be careful setting this log to zero because you know why it doesn't exist. It's undefined. So now this will produce an NAN in your game. And that is a big no, no. So if you're using boosts and stuff, and you know that your currency, your x right here is going to be zero at some point, just do a plus one. Okay, just as a safety precaution. So now if x is zero, you know, this log equation right here is going to be equal to zero. So it won't be an issue. It's just when this whole thing in here is zero. That's where we have this issue. We have the undefined. We don't want that we want to stay away from that. Alright, so that's log. Remember, it's just a very sharp diminishing returns. Okay, so another example of this is 10x and just log x. So now log by itself is already log base 10. So this is log base two. And remember, it's just the inverse. So this would technically be the same thing as log base 10 log x. Okay, that's the same thing log base 10x log x. It's the same thing. See if you turn this on and off, if we have just log x, you could see that it's just the same thing here just turn on and off. So now you could see that the higher the base is, the sharper the curve is, same with the exponential growth, the sharper this the higher this number is, the faster it's going to grow. So now this one is basically going to multiply by 10 for every x while this one's only two. Fun fact, this is actually how the exponent is calculated with scientific notation. It's basically just a log x. So if you do, for example, 10 to the power of 20, you're going to get 20. Okay, it's very simple to understand. Alright, so now we have all the equations set. If you guys have any questions, make sure you leave them in the comments below, or you can just take a good Google search, or you can check out Desmos and play around. I'd actually really suggest you guys to do that just mess around here for a little bit just to get the hang of it and just see what math does. Okay, so now in our controller script, I have created a bunch of equations here, you guys don't need these at all.  But basically, I've explained earlier that big double is different than doubles. So if you're not using big doubles, you're going to be using these. If you're using big double, you're going to be using these, and maybe the sometimes. Also, I just forgot to replace these right here. Oops. This is the linear equation. It's just going up by x here, except we're multiplying by five. So it's just a straight line. So it's just five times the number. And that's just linear growth. Now right here, this is the square root one. Now there's two different ways I showed you the two different ways here. So all of these equations I made here are in the script, just in exact order, just a heads up. So you can do big double dot square root, or just squirt like that. And that will be for the big double square root stuff. And this is good to go here. Now you can also just do big double dot pal, and just do your number to the power of 0.5 exact same thing. Now you would already be familiar with power right here, because this is the polynomial stuff right here. So basically your number to the power of two. So this is your polynomial equation here. And right here, this is your exponential one. So instead, it's two to the power of number. It's the same power method right here. Now for the log right here, it's just big double. And then you have a number in your base here. So right here, this number is the base. When I say log base two, I'm saying this is the two right here, the base is two right here. Now log base 10, that is this right here. Okay, so now big double actually has a built in log two equation. So you can just simply do log two, and then just put your number in here. Now however, if you're going to do specific bases like 2.5, you must do the regular log here, you can't do log 10. And then your number 2.5, it doesn't work that way. log 10 is basically log. And then the base is 10. Okay, so this right here is the exact same thing as this right here. So you can do however you want it'll show perform the exact same thing. It's just this is much shorter. So this is the exponential big double equation. Again, this is just the same thing as this. This is the inverse of this equation. And yeah, so this is all the big double equations. So now for all your folks that aren't using big doubles here, or you have double variables that you want to do math with, this is the exact same thing as above, except that you're using the system dot math class instead of the big double one. Now this is important because you cannot use a big double on a double variable. Okay, you can use math on a big double variable, but you can vice versa. So these are all the exact same things. I don't need to repeat what they all do. So anyways, guys, I hope that was understanding and I hope that you guys learned something new today. If you guys did make sure you smash the like button, leave a comment below on your opinions on this video, and suggestions and all that good stuff. Make sure you subscribe to my channel if you enjoy this content and if you're new around here, become a part of the crew, turn on notifications for future live streams and videos. If you want to support my channel, I would highly appreciate it and you should check out the links in the description below. Huge shout out to all my patrons and my YouTube members.  Anyways, guys, I'll see you guys in episode 2.3, which will be me explaining how to use arrays and how they work. And these will be very, very important for the future. Anyways, have a great day night and I'll catch you guys in the next one. Peace.


My name is Ksenia Kraus. I came to America from Russia in 2001 and been in Tri-City area since 2008. I come from a non-religious family. Only one member of my family was following God was my great-grandmother and I grew up watching her pray and follow God. I also come from a family of divorce. Everyone been hit by divorce including myself. When I got divorced I got a job as a bartender and met people that were into drinking and partying. So I started doing that also for four to five years and constant emptiness. I started drinking myself to get rid of the pain but it wasn't working. So one day I woke up and decided that there's more to life than alcohol and partying. So I got into college, got my degree, got out of bartending. After that the drinking slowed down and today I can say that I don't care about alcohol. I guess I could say I've always been curious about Jesus Christ and didn't know how to start or where to go. Now my fiance's parents go to church and I've asked if I could come with them. And ever since I guess I could say I started growing there. One day Solomia asked me if I wanted to come visit her church and after a while I agreed and came and that night pastor was talking about rainbow promise, the message and it touched me because I've been hurt a lot in my life and decided that today is the day and I want to give my life to Christ. Tonight I want to get baptized because previously that decision was made for me and tonight I want to make that decision myself to give my life to Christ and live in His footsteps. Xyna, do you believe in Jesus Christ as God's Son and your personal Lord and Savior? Yes. Do you promise to follow Him with good and clear conscience for the rest of your life? Yes. Based on your faith, confession and your commitment will baptize you in the name of the Father, the Son and the Holy Spirit.


Good afternoon everyone. Today, this is the second session for technology work stream and I am really glad myself and Rupali will be taking you through the first part of second technology session. Just to recap, we have already completed two modules, the soft skills workplace communication and financial literacy. Specific aspect of financial literacy which is how a stock exchange works and more importantly the technology behind it we left it during the financial literacy course and from today onward we are going to zoom on to that aspect. The reason we have left it out was we will talk about how a stock exchange works and more importantly what is the technology behind it while all of us during our academic sessions we learn various languages, may be Java, may be visual basic, we get exposed to database technologies. However, we do not get end to end project implementation exposure which is critical when you go into a software firm or for that matter whatever area you choose to work on implementing big projects and program is critical right from day one. So, from today and for next lecture we will see how a project is getting implemented. So, for that we have taken a case study for how a stock exchange works for first hour. So, between 2 to 3 o'clock myself and Rupali will take you through that after that we will take a short break and after that between say 3.15 to 3.30 onwards till rest of the day we will invite people who have recorded the sessions for technology and I am sure by now you have gone through those sessions be it Java, be it Python, be it software development, life cycle or cloud whatever doubts you have my colleagues will address them. So, without further delay let us get into the software stock exchange case study. So, this is our agenda today first I will start with journey to stock listing because it is important to understand where the journey starts for a stock exchange it starts with a company getting listed. So, for first 5 minutes or so let us go and understand how a stock getting listed for that and just to make it interactive I would like to invite one volunteer from a college preferably a female volunteer if you can raise hand thank you for volunteering I will just ask couple of questions if you can help answering those. So, for stock to get listed so let us understand a journey for any company any company starts maybe with a idea and let me give you a quick mantra of how you can be a entrepreneur to be a entrepreneur you just need 3 steps 1, 2, 3 if you master these 3 steps I assure you any of us could be a entrepreneur. So, first step is you identify a problem which you face day to day and here I will ask a question to my volunteer the reason I choose a lady volunteer is being this being a international women's day week I thought will acknowledge that with a female volunteer. So, with the first question what is the problem you face if you can mention your name and whatever problem you face if you can mention that that would be helpful hello yes we can hear you yes are you listening to us yes we can hear you hello good morning good afternoon good afternoon. So, Aisuni we can hear you please go ahead and speak do not wait for us yes go ahead Aisuni please I have to answer your question right any problem you see your face. So, sir I think yeah sir I think that to develop the entrepreneur we have think about what is the need of the society and how we can provide the solution the society and for the same we have to give and give the services. So, that can be a service business in terms of the entrepreneur right. So, so you mentioned it right if you can take maybe just one need of the society what is the problem about society about you if you see any problem which you face day in day out. Ok that problem I have to discuss yes just mention it. So, yeah just I am a woman. So, I like to say that I am a working woman. So, in a day to day life I am facing the problem of maid. So, if there is a provision or the entrepreneur that can provide the center in which our maid can be provide. So, that will be the solution for the working man. So, I like to share this problem. Good. So, that is a common problem you have said maybe you know it is a problem across India especially in the urban countries urban cities. The first step you have already done it the next step is while it is a problem for you ask people around you are they facing the same problem. And I am sure the problem which you have mentioned everybody will vehemently agreed especially the working class in the urban cities that this is the problem for them. Everybody try to find a solution may be with their own mechanism with their limited contacts to reach out. So, step number one is identify a problem. Step number two is is it that only you face that problem or is it the large society face that problem. Third and the most important step is how I put a model around it be it a business model be it is a revenue model be it is operational model. So, the problem which you mentioned if you can start thinking further in terms of oh yes it is a problem for everyone how I can address it at a pan India level across India level if I have to address that problem what is the model I can think about. Shall I go online and start creating a web company where people can register there who want to be a maid at the same time who want to. Yes sir. Correct. So, if we so sir if we can make a model in that model means the working people can register their self that they want the people like for working in a home and at the same time those want to want a job like the lower class level they can also register and there will be one model can apply the solution for that people and on the basis of that the lower class people can get the job and we at the class people can get the service from that right. So, thank you. We can make. Yeah. So, we can make a compare absolutely. So, this was a very quick brief about how you can be an entrepreneur you can always think about any problem the key part is what is the model you can put around it and at a what grand scale you can bring it up and while this is a very apt example which you talked about and thank you for that you must have seen many companies who have used similar approach and have made very successful models. So, typically maybe 20 years back somebody who starts a small business he might starts at a small place he it is called as a proprietary business where a individual or a partner tries to run that business very soon it can be a private limited where they can reach out to a larger audience. However, it is still the ownership of the company or that limited company is with very few individual and then they can start thinking about when they want to expand further and to generate more money as well as to ensure the ownership of the company is rightly distributed. At that time a private limited company start thinking about going to a public limited. So, we have seen various successful companies here we gave a example of made, but we have seen successful models like Ola, Uber or Oyo hotels. So, all of them have tried to encash on the model where you create a market place where there is a definite demand definite supply. However, the supply and the demand are not talking to each other. So, the market place is what we talked about. So, without further delay I would request Rupali from where I stopped i.e. if a company which is private limited want to go to public limited how we can take that further. Sure thanks Aniruddh and welcome everyone very warm good afternoon. Taking a logical cue from what Aniruddh has discussed so far when it comes to taking your company public there are clearly two routes to the market. So, one is you trade between one party to another party and the other is you trade through the stock exchange and when a company typically goes from private to public they list their shares on the stock exchange which are then subscribed to by retail and institutional investors across the country and then the company receives the funding for the shares that they are putting out in the market and then subsequently the shares start trading on a regular basis on the stock exchange. So, before I kind of go and explain to you how the stock exchange actually works I want to talk a little bit about what do we mean by trading between two parties without the stock exchange which is what is called as trading over the counter and then what does trading through the stock exchange mean. So, I just want to draw a reference to a quick slide here. So, first we will talk about over the counter over the counter would mean that you know the trade happens between two individual parties. So, they are that way customized to the needs of both the parties. So, buyer has a set of requirements and the seller has b set of requirements both buyer and seller come together across the counter to talk about terms negotiate agree on the price and then exchange the products and services for money right. Now, what is important here is to note that the trade is between two parties when we say two parties in historical days it used to happen across the floor. So, in my financial literacy session I have given an example of a movie called Guru not sure how many of you have seen, but there is a specific instance in the movie when the trading of silk is happening. So, it is in a closed room traders are standing on top of bails of the Kera silk cotton and they are negotiating prices and trading that is a classic example of what is meant by a over the counter trading or over the counter market. Now, that is historical these days the same over the counter mechanism has become via telephone telecommunication equipment and computer terminals right, but the important thing to remember when the trade is bilateral between these two parties is that the products are tailor made to the specifications. So, unlike the earlier example where Anirudh was referring that I issue shares to the general public through the IPO those cannot be customized to the needs of let us say A and B differently they all have to be same they all have to be shares of XYZ company they all will trade at a specific price and they all will have the standard requirements which the stock exchange will be dictated that is not like of what is traded on over the counter. So, typically what sort of products get traded here are products which are not listed products on the stock exchange corporate bonds derivative instruments structured products and at times commodities and currency products as well right and mostly trades here happen between institutional parties unlike retail ones where we can transact on the stock exchange through the broker that we have signed up with right.  So, you would not find retail people who are members of the stock exchange but it will always be institutional clients or companies who will take memberships of the stock exchange. So, how do retail clients like all of us can trade we can trade through these institutional clients who are themselves member of the stock exchange by opening what is called as brokerage accounts with them right. So, one is a brokerage account I instruct my broker that I want to buy 100 shares of XYZ company the broker will place an order to the stock exchange the stock exchange will try and match the order with somebody from the selling side and then they will confirm back to me once the order is confirmed I will pay for the shares and the shares will then be transferred into my DMAT account right. So, there are few parties involved in this whole transaction how the exchange takes place which we will see in a while from now. Now I will just like to jump a little bit in terms of a comparison between these two types of deals now that we understood what is a OTC market and what is a exchange traded transaction this slide really talks about some thin line differences between each of these types. So, as we said exchange direct products are directly between the holder of the product and the exchange exchange acts as the central counterparty. So, as a buyer if I am transacting on the stock exchange I really don't know who the seller is the seller intern doesn't know me as the buyer I will lock in my request with the exchange the seller will also lock in their request with the exchange the exchange will do what is called as matchmaking they will match my buyer request with the sale request from the other side and that's how the price is fixed and agreed upon reverse communicated back to both parties post which I will pay for the purchase and the seller will receive the amount for the sale of the financial product on exchange traded transactions parties need to be a member of the stock exchange if they have to utilize the services on the OTC the transactions happen over the telecommunications and telephone networks they're not required to pay any memberships on exchange traded products there is no underlying contract per se because the exchange acts as the custodian the exchange acts as the regulatory body to ensure that the trade happens properly and is in compliance with the terms that are laid down by the exchange in case of OTC what you have is an underlying contract so if me and Aniruddha have to trade on a particular product there'll be some legal contract which is written between both of us which will specify what's the product what are the terms of the trade when is the exchange going to happen when do I pay for the product when does he transfer the product to me so then honoring the contract really depends upon the performance of both the parties myself and Aniruddha in this case so if either of us fail to perform on our obligations on the contract then the other resulting party is definitely at a loss this doesn't happen in case of an exchange because exchange would guarantee that both parties perform their sides of the obligation pricing is readily available when it comes to exchange traded because there's constant demand and supply of the same product being traded on the exchange so price is a discovery of the demand and supply mechanism and it's readily available at any point in time in case of an OTC the prices is subject to negotiation so therefore what buyer and seller agrees is a negotiated price for the trade of the product and because of the pricing being a little less competitive little less open to more negotiation the liquidity in OTC market is slightly lower than what it is in the exchange traded products in both cases the price movements and the risk is driven by the market movements which will ultimately result in the value of money that I pay out or I receive if I'm either a buyer or a seller to the trade right now what we'll do is we'll quickly jump on to understanding how the exchange works right so if you look at this diagram on the left hand side there is an investor A this person is the buyer on the right hand side you have another person investor B this person is a seller investor A is wanting to purchase some shares and investor B is wanting to sell shares what investor day will do is on today's date which is called T0 trade date 0 in the financial jargon I put the call to my broker and I'll tell him that you know I want to buy let's say 100 shares of reliance my buying broker is in turn a member of the stock exchange so my buying broker is going to log in the request with the server of the stock exchange and there is a interchange of information between the brokers servers and the stock exchange servers exchange receives the request and then tries to find out a match on the other side what is happening is investor B has locked in a request with their broker to sell shares of reliance as an example selling broker is going to log in the request with the database of the server and then the exchange is going to match both these requests I will when I log in the request I will specify a price limit start and what price band I'm willing to buy the share investor B when they log in the request they are also going to set up a equal price band from the selling side exchange then they based on the demand and supply of the reliance shares overall within the stock exchange network will agree on a single price that is matched between me as a buyer and let's say somebody else as a seller on the other side this matching is done by matching algorithms which are residing on the stock exchange servers once the price is matched a reverse communication is sent back to the buying broker saying your request for reliance shares at XYZ price has been finalized and this is the price at which you got to buy the buying broker will in turn communicate back to the buyer investor A saying that your trade has gone through and now on the next date which is t plus one that means tomorrow I have to pay to my broker the price of the share the price for the purchase of the shares plus an amount of brokerage which is an agreed contract between me and the buying broker the buying broker will then retain their brokerage with themselves and then pass on the remainder of the amount to the exchange right now for for the transfer of this money across the system there have there have to be additional parties involved this is what is achieved by participants known as clearing banks and custodians and then there is a concept of clearing house which sits on top of the exchange we will explain some of those things by a by a diagram shortly right so now the exchange receives the money for the purchase the exchange will then transfer that money to the selling broker on the following day which is t plus two that means the third day from the trade date zero the selling broker will then pay the money to the buyer after deducting their commission for soliciting the deal right so that's how the flow of money is going from one side to the other for the buy and the sale of shares similarly you'd appreciate that the transfer of the shares also has to happen from investor b to investor a into their own d-mat accounts so similarly once the trade is confirmed investor b will transfer the shares to the pool of the selling broker selling broker will in turn transfer the shares to the exchange exchange will transfer them to the buying broker and buying broker will then transfer them to the d-mat account of the investor a who's the buyer now again for the exchange of these for those for the transfer of shares from one side to another there are bodies involved which is again the clearing house is the custodians and another participant which is called as your depository participants the people who give you the d-mat accounts to hold the shares in the electronic form right i'll just take a pause at this moment and see if there are any questions before we move further if you if you have any questions please press the hand raise button regarding the current topic anybody having questions please press the hand raise button okay another 10 minutes another 10 seconds or so if you have a question at then we'll otherwise we'll proceed all right it seems all of you are actively into trading so you know the process in and out so looks like there are no questions at this point in time okay so i would like to now spend a little bit of time in terms of drawing out on a piece of paper and explaining you know how connections are happening between parties that are involved when an exchange trading transaction has to flow through right okay so at the center of the story is what is called as the exchange right now let me take the india india example here so a typical indian example is what is called as a national stock exchange here you have the buyer and i'm just replicating bits and pieces of the diagram here here you have the seller right obviously attached to the seller is the selling broker attached to the buyer is the buying broker and then they connect to the exchange this was a diagram we saw earlier right now i'll just add on bits and pieces to these diagram in terms of the parties that i spoke of earlier clearing houses depositories and so on and so forth so now what happens is there is a central depositories security agency which sits on top of the exchange india examples of such a type of body are what is called as nsdl and cdsl they are the ones who govern the transfer of funds from one side to the other and from securities from the other side to the buyer side right again closely connected to the exchange is what is called as a clearing house clearing house is a rbi authorized mechanism that will ensure the movement of funds from one side to the other as well as securities from one side to the other so they all pass through the clearing house supporting the clearing house are what is called as clearing banks so there are clearing banks and why i've mentioned two here is because you have one on the buyer's side you have one on the seller's side these are the banks which receive instructions from the cdsl and the nsdl to transfer the money from one side to the other and securities from the other side to the buyer side once the trade goes through so once the trade goes through exchange is going to send out instructions to nsdl cdsl that this is the trade the role of nsdl and cdsl is to determine the obligations underlying the trade so what i mean by obligations is what has the buyer to pay for to whom and what are all the other details surrounding the transaction accordingly the nsdl and cdsl will reverse transmit messages to the clearing house here who will then in turn connect with the clearing banks on the buyer's side for movement of money out of the buyer's account and then on the selling side for credit of money into the seller's banking account right and what you have here is what is called as depository participants so you have one on the buyer's side and you will similarly have another on the selling side depository participants are institutions who provide you with demat accounts so once the money has gone through from the clearing house mechanism from the buyer to the seller a reverse instruction to transfer the securities will be sent by nsdl cdsl to the depository participant and then shares will be moved out of the seller's bank account seller's demat account and transferred to the buyer's demat account typical examples of demat account are at times the same brokers who also provide the demat account facility so for example hdfc securities is is also a designated broker of the exchange hdfc securities also provides buyers and sellers with demat account so then the process becomes even more seamless right so typically this is the flow of a transaction when actually a trade goes through from the stock exchange and you would appreciate that if i have to have all these movements happen there has to be a robust technology base underneath each of these to make some of these things possible electronically right so what you see is an amount being debited out of your bank account on the following day you make a trade and on the third day from the trade you see the shares being credited in your demat account so that's something which is visible to us but what's not visible to us is the behind the scene activity which i just put out in front of you in this diagram and then each of these people will have the technology platforms below beat database beat your servers beat your algorithms beat your messaging systems beat your payment gateways to make all of these exchanges possible all right so taking a pause here again to see if there are any questions coming by so we have one from aks university aks university no audio video from your side if you have any questions please press the hand raise button below the user list yes aks we can hear you but you can't see you but please go ahead we can hear you okay ma'am how nsdl and cdsl are different among itself they are two both different institutions so some exchanges may use the nsdl network some exchanges may use the cdsl so in india typically you know you have nsc you also have bsc so it really depends on which authority the exchange has signed up with and ma'am is it required that both buyer and seller should understand the not required not required they can have different if depository participants your nsdl and cdsl are the custodians of transfer from one participant to the other so it's not required to have with the same party thank you ma'am any other center having any questions okay all right so then we will proceed to the last part of the session which is now by now you would know that exchange they act as the central counterparty which means as I mentioned they would have a central server which has a matching algorithm that runs that matches the trade from the buy side as well as the sell side so now Anirudhu will again take all back from me and talk to specifically about the matching engine which runs you know behind the stock exchange and what are some of the components involved therein before that we just saw a hand raised again from wal chand institute of technology so if you have a question please do ask ma'am is the broker really required in the system exchange and what does the role he plays they are absolutely required because retail investors like all of us cannot be members of the stock exchange to be a member of the stock exchange the stock exchange has got stringent guidelines so you need to be a institutional party you need to have asset base of xyz there are heavy membership fees that you have to pay every year to the exchange and memberships of the exchange are not not granted to retail people now you can transact through the stock exchange only if you're a member or you


Today's throwback, the historical and constitutional tragic comedy of the dying executive officers of the federation. Governor Kangiwa of the old Sokwato State comprising of today's Sokwato, Kirby and Zamfara states, who fatally fell off his polo horse while playing the aristocratic game, was the only humanitarian character who died in the four-year and three-month duration of the coup-aborted Second Republic, which lasted from the first of October 1979 to the night of the 31st of December 1983. The suddenness of his death, like Governor Yakoas of Cardinal State in this Fourth Republic, was one of the victims of a helicopter accident that did not cause any undue constitutional hangover. Arbate, Prime Minister Tatharfa Balewa, Prime Minister Downer and Akintola similarly lost their lives at the very end of the First Republic, but the Constitution too was immediately suspended in the aftermath of the porch that claimed their lives. However, this Fourth Republic has not only witnessed the constitutional stress of a so-called quote-unquote doctrine of necessity, which was invoked to terminate the blatant insult inflicted upon our collective psyche by the selfishly manipulative wife and kitchen cabinetiers of an atroffian President Umaru Yadua, who soon after the constitutional fragilation died in office. The U.S. State had, in 2009, suffered a gradual withering, an ultimate demise of Governor Mamambe Lualli to a mild version of the untold drama. Governor Dan Babasuntai of Tarabah State, who incurred a very serious physically-wasting injury, while self-polluting himself in a light aircraft, similarly generated a sudden constitutional and a dramatic irritation, like a lack of credit to lose, which just ended in understate. Please read the excerpt of a reportage of Governor Sumtai's obituary in a respected digital publication Premium Times, then and compare to Akiti's quote. It was flown back to Nigeria on August 25, 2013, after ten months of medical treatment overseas, following claims by supporters that he was fit to govern. Quotation continues, but after weeks of political crisis in the state, based on claims and counterclaims over his health status, it was revealed that the governor was not healthy enough to live in Nigeria without adequate treatment or to govern a state, unquote. I am wondering why should the lot of millions of our people be allowed to be abused by self-saving wives and anger's own of dying politicians? I am Bola Hoba.