Diego Segura
@diegosegura
designer, writer, founder. currently obsessed with monetary theory, high finance, corporate law, regretting dropping out of high school, and sudoku. author of a 2018 book, “the dropout manifesto.”
diegosegura.meDiego Segura
when China joined the World Trade Organization, in December 2001, its per capita G.D.P. was around $300 a year. “That’s like going to a good Nantucket restaurant for dinner,” he said. “That was the entire income of the average Chinese person.”
May the Schwarzman Be With You
now it's $12,000 vs. $70,000 in the US (and $36,000 in 2001 in US)
though on Google it says China's per capita GDP in '01 was $950
still, insane growth
Chubb specializes in XoL (excess of loss) trade credit insurance, which means that the insured company agrees in the policy to take a significant loss before “coverage” kicks in.
This is different than ground-up insurers like Atradius, Allianz, and Coface, who will insure entire losses (also known as “ground-up”.)
wildly interesting boom economy in Russia right now despite all of the sanctions imposed by the west
“But as usual, in Moscow, things looked very different. ‘They are even richer,’ a friend in Moscow texted when I asked him how the residents of the chic Patriarch Ponds neighborhood are living through these uncertain times. ‘It is amazing. Never seen so many Lambos and Rolls as last year.’ What about the ruble crisis, I asked? “Don’t care,” he texted. ‘They live in Russia, taking salaries in rubles and spend their money in Russia.’
A friend of his is an interior designer who has been freed by the war of competition. Her problem, she now says, is being able to finish all the jobs that have fallen in her lap, not getting new customers. Another friend, who works for a Russian oligarch, told my friend, ‘You have no idea how much money there is in Russia right now.’ Said ‘Only a fool wouldn’t be able to earn money right now.’”
apparently if you're remotely good at making money, you're making a *fuck ton* of money in Russia right now, and so long as you're transacting solely in Rubles, it doesn't really matter that the currency is collapsing
long term, however, it's gotta mean terrible things for their economy and the Ruble being weak can't be good for long
apparently there is tons of money flowing to the poorest regions of Russia for signing bonuses for soldiers, and they're even helping soldiers out with their mortgages as a way to encourage them to join the fight
in essence, there's a massive wealth redistribution going on in Russia, and it's all just coming from the country's budget and (as would make Keynes proud), trickling down throughout the entire country
which, if you think about the goals of the sanctions, is not in the West's favor, at least in the short-term
the point of the sanctions ideally would have been to create a slowdown in Russia that caused the public to lose support for the war, but if the economy is booming.......don't count on it
His beachhead may very well be a paid newsletter . . . but the newsletter is just one SKU. . . . There could be a podcast SKU. A speaking fee SKU. A book deal SKU. A consulting SKU. A guest columnist SKU. And so on.”
Anna Wiene • Is Substack the Media Future We Want?
Commercially, this season of Helmut Lang may sell better than it ever has for Fast Retailing. Walking out of the show, I asked a store owner if she planned on buying the collection, and she seemed keen on the blazers and jeans, which are reasonably priced. (Reasonable, in this case, means between $300 and $600.) And then, a shop-and-copy master... See more
September Issues
Capri C.E.O. John Idol , who has achieved some of the most impressive financial exits in fashion history. After a few formative years as group president of Ralph Lauren, Idol took over as C.E.O. of Donna Karan, which he helped sell to LVMH for $243 million in 2001. A year later, along with investors Lawrence Stroll and Silas Chou , who already... See more
Coach & Kors’ Marriage of Convenience
For Coach, the biggest brand in the Tapestry portfolio, the show—a display of oversized leather blazers and pointy-toe jelly flats embossed all over with Cs, with J.Lo in the front row—is a customer acquisition cost.
Could they do it another way? Perhaps. But it’s part of the formula devised by creative director Stuart Vevers , who moved to the... See more
Could they do it another way? Perhaps. But it’s part of the formula devised by creative director Stuart Vevers , who moved to the... See more
September Issues
What is perhaps most debilitating for Iger, however, is the simple fact that the rules of the game have changed, and the ambitions have diminished. The glory days of growth and conquest that defined his first tenure have given way to a brutal battle for survival, one in which Iger may be forced to deconstruct the very empire he helped build,... See more