Brief Summary
This video discusses various financial news from Russia and the world, including a massive fine imposed on Google by a Russian court, complaints from shopping mall owners about high interest rates, and the Supreme Court of Russia defending the rights of borrowers. The video also covers topics like the upcoming mandatory registration for bloggers in Russia, a systematic approach to problem-solving, a scammy hedge fund, Warren Buffet's investment moves, Iceland's transition to a four-day workweek, the trend of wealthy Americans trying to die before tax changes, the rise of AI-powered search engines, and the latest news from the world of artificial intelligence. The video concludes with a discussion of a financial myth, an interview with a financial blogger, and a good news story about the return of a popular YouTube channel.
- Google fined 100,000 rubles per day for not unbanning a Russian channel, with the fine doubling periodically.
- Shopping mall owners complain about high interest rates after the Central Bank of Russia raised the key rate to 21%.
- The Supreme Court of Russia rules that banks cannot unilaterally worsen credit terms, including commissions on credit cards.
- Russia's Roskomnadzor (RKN) introduces mandatory registration for bloggers with over 10,000 followers, requiring them to provide personal information.
- The video discusses a systematic approach to problem-solving and promotes a course from Chang Education.
- The video discusses a scammy hedge fund that promised high returns but ultimately failed.
- Warren Buffet's investment company continues to sell stocks, including its large Apple position.
- Iceland has transitioned to a four-day workweek without pay cuts, with positive results for employee well-being and economic growth.
- Some wealthy Americans are trying to die before tax changes in 2026 to avoid higher inheritance taxes.
- AI-powered search engines are becoming increasingly popular, with ChatGPT and Google both developing their own versions.
- The video discusses the latest news from the world of artificial intelligence, including the development of a new humanoid robot from Boston Dynamics.
- The video discusses a financial myth about the internal rate of return (IRR) and yield to maturity (YTM) of bonds.
- The video features an interview with financial blogger Alexander Eliseyev, discussing his experience with early retirement.
- The video concludes with a good news story about the return of a popular YouTube channel, Anton Nazarov's "Clean YouTube Channel."
Intro
The video begins with an introduction by Pavel Komarovsky, who welcomes viewers and announces that he will be discussing the most interesting financial news from Russia and the world over the past week. He mentions the massive fine imposed on Google by a Russian court, the transformation of "nyash-myash" (a term used to describe something cute and cuddly) into a real "kel'skoye" (a term used to describe something fierce and powerful), and the upcoming discussion of various financial topics.
Undecillion Rubles from Google
The video discusses the massive fine imposed on Google by a Russian court for not unbanning the Russian channel "Tsargrad." The fine started at 100,000 rubles per day and doubles periodically. The video compares the situation to a story about a mathematician who asks for a single grain of rice on the first square of a chessboard, with the amount doubling on each subsequent square. The fine has already reached 2 undecillion rubles, a number with 36 zeros. The video highlights the absurdity of the situation, as the fine is larger than the entire annual GDP of the Earth. The video suggests that the Russian court is simply trying to make a point and might eventually fine Google a "Google" (a number with 100 zeros).
Shopping Malls Complain About Credits at 21%
The video discusses complaints from shopping mall owners about high interest rates after the Central Bank of Russia raised the key rate to 21%. The video explains that the high interest rates are making it difficult for businesses to manage their debt and are leading to potential bankruptcies. The shopping mall owners are asking for government intervention, such as a reduction in interest rates or financial assistance. The video also mentions that many ordinary Russians have taken out loans with high interest rates and are expressing their frustration with the situation.
Supreme Court of Russia Defends Credit Rights of Citizens
The video discusses a recent ruling by the Supreme Court of Russia that banks cannot unilaterally worsen credit terms, including commissions on credit cards. The video explains that while banks are generally allowed to change their service terms, the court ruled that this does not apply to credit products. The video emphasizes that the court is siding with borrowers and protecting their rights.
RKN Considers Bloggers
The video discusses a new law in Russia that requires bloggers with over 10,000 followers to register with Roskomnadzor (RKN), the country's media regulator. The video explains that the law requires bloggers to provide personal information and will make it difficult for them to buy advertising or even share their content on other platforms. The video mentions that the law will come into effect on November 1, 2024, and that bloggers who fail to register will face fines. The video also discusses a case where a blogger who registered with RKN received a draft notice from the military, suggesting a possible connection between the two.
Systematic Approach to Solving Problems
The video discusses a systematic approach to problem-solving, which is often used in consulting. The video explains that the first step in this process is to define the problem correctly. The video mentions that the speaker was recently invited to give a corporate lecture on problem-solving and shares his experience with this approach. The video also promotes a course from Chang Education called "Analytic Pro," which teaches this approach through practical case studies.
Movchan's About a Scammy Hedge Fund
The video discusses a recent article by the Movchan team about a hedge fund that promised high returns but ultimately failed. The video explains that the fund, which traded the euro-dollar currency pair, promised investors returns of 50-90% per year. However, the fund turned out to be a scam, and the video suggests that the blame lies with a person named Katz. The video also mentions that the speaker had a disagreement with the Movchan team a few months ago about their hedge fund called "Gaist," but the situation was resolved amicably. The video concludes by mentioning that the speaker will be interviewing Andrey Movchan in the near future.
News from the American Market: Buffet Sells Stocks
The video discusses news from the American market, including Warren Buffet's investment company, Berkshire Hathaway, continuing to sell stocks, including its large Apple position. The video speculates about the reasons behind Buffet's moves and mentions that the company has accumulated a record amount of cash. The video also discusses the recent rise in yields on US Treasury bonds, which has made them more attractive to investors.
Icelanders Switch to a 4-Day Workweek
The video discusses Iceland's transition to a four-day workweek without pay cuts. The video explains that over 51% of Iceland's workforce has now officially switched to a four-day workweek, with positive results for employee well-being and economic growth. The video also mentions that the Icelandic government has been studying the effects of a four-day workweek for several years.
American Rich People Rush to Die Cheaply
The video discusses a trend of wealthy Americans trying to die before tax changes in 2026 to avoid higher inheritance taxes. The video explains that tax rates on inherited wealth will increase in 2026, making it more advantageous to die before that date. The video mentions a research paper from 2001 that found evidence of this trend, suggesting that wealthy individuals are timing their deaths to minimize their tax burden.
AI Search is Being Implemented Everywhere
The video discusses the rise of AI-powered search engines, with ChatGPT and Google both developing their own versions. The video explains that these AI search engines can analyze data and draw conclusions, making them more powerful than traditional search engines. The video speculates about the future of search and suggests that AI will eventually be able to generate its own questions and answers.
Boston Dynamics Robot is Feared to Be Hit with a Mop
The video discusses a new video released by Boston Dynamics showcasing its latest humanoid robot, Atlas, working in a warehouse. The video highlights the robot's ability to perform tasks such as picking up and placing objects. The video also mentions that previous models of Boston Dynamics robots were often subjected to physical abuse, but the new model seems to be treated with more respect.
Picture of the Week: Pagan Nyash-Myash
The video discusses a picture of Natalia Poklonskaya, a Russian politician known for her "nyash-myash" image, dressed as a Celtic witch for Halloween. The video highlights the contrast between Poklonskaya's previous image as a symbol of Russian patriotism and her current embrace of paganism. The video suggests that Poklonskaya's shift in image has been met with mixed reactions, with some people criticizing her for abandoning her previous beliefs.
Interview of the Week: Finindi at Babaykin
The video discusses two interviews that the speaker listened to last week. The first interview is between Alexander Eliseyev, a financial blogger known as "Finindi," and Anar Babayev, a YouTuber known as "Babaykin." The video highlights Eliseyev's approach to financial investing, which involves digging into data and analyzing information. The video also mentions that Eliseyev shares his personal experiences and tries to apply his investment principles to his own life. The video praises Eliseyev's honesty and integrity and suggests that he is a valuable resource for investors in Russia. The video also mentions that Babayev is a good interviewer and asks interesting questions.
Bonus Post of the Week
The video discusses a bonus post that the speaker published on his Telegram channel last week. The post discusses a financial myth about the internal rate of return (IRR) and yield to maturity (YTM) of bonds. The video explains that many investment professionals believe that IRR and YTM assume reinvestment of coupon payments at the same rate, but this is not true. The video highlights the importance of understanding this concept and encourages viewers to read the post for more information.
Good News of the Week
The video concludes with a good news story about the return of Anton Nazarov's "Clean YouTube Channel." The video explains that Nazarov's channel was previously banned by YouTube, but he has now recreated it. The video expresses interest in Nazarov's work and acknowledges that they have some disagreements about the ethics of his content. However, the video recognizes Nazarov's value as a blogger and expresses interest in following his future work.
