Careers | Binary.com

From being PIP'd at a startup to leveling up into a FANG in four months.

When my manager sat me down in our 1:1 to deliver me the news that I was about to be put on a PIP the next week and to use the weekend to think what my next step should be, my initial reaction was to want to take it and save my job. I knew I've been in a bit of a slump, sleeping very poorly, and not outputting as much as I could have. But to be quite honest, this was a blessing in disguise.
The company I've been working at wasn't doing that well to begin with. We raised a series D in just under two years of existence and my options have quintupled in value since joining, but we've had regulational troubles and the hardware team has been slipping. Our CTO was fired four months after I joined, and our new CTO promised to double our engineering headcount by the end of last year. We've maybe only added 5 people to a team of 30 instead by that point. To that end, I've had multiple manager changes within that time period: a total of five managers and six manager changes all within 12 months. As this was my first job out of college, I thought this was all normal for a startup.
In addition, the pay was very low. For a new grad that didn't know better, like yours truly, that number was a lot for someone who was only ever paid hourly. But after discussing with friends that went onto working at FANGs and other, more established unicorn startups, it was abundantly clear that me and my fellow colleagues were severely underpaid. Like, over 50% lower in base salary alone underpaid for the same line of work and more stress.
The work itself wasn't that great either. It was a system that had to be supported globally with different rules in different countries and with physical hardware that we had little control over. Nobody left the office before dinner was served, and seldom did people start going home after dinner was finished (well, up until recently since people stopped giving fucks). We had almost no senior engineers either, most of the work was done by fresh grads or interns from top CS schools. We maybe had only four veteran IC's, but the rest of the "senior" staff were in management. Everyone else was a new grad or junior engineer. You wouldn't find anyone that had more than two years of experience in the rest of the crowd. It's fun to be around people my age, but the work was sloppy and stressful when shit broke because you're trying to build something with little guidance and your code reviewers are other new grads that are equally as experienced as yourself. Nobody (besides maybe three people) has ever coded in the framework we used, and everyone learned the language and framework right on the job. Our only training was a link to an official guide.
I'm not going to get into the company politics, but it's sufficient to say our Blind was so spicy to the point screenshots of several call-out threads were brought up in meetings and mentioned in all-hands. It was pretty bad.
But going back to me getting served a PIP. My manager gave me an ultimatum: either take the PIP, or take severance and interview for another company. Over that weekend, I thought really hard about all the things I've seen and done in the past year, and quite frankly, I found that I haven't been happy at that place for a while now. It doesn't make sense to try to save a job I wasn't going to be happy at, where I get paid peanuts, and where my contributions are invisible to upper management because the longest I've had the same manager for was two and a half months. I decided to take the severance and leave.
This gave me time to relax, exercise, enjoy hobbies I haven't done in months, and most importantly, spend time with family and friends I haven't been around with because of this job. Oh, I forgot to mention that the company moved headquarters halfway through my tenure and bumped my commute from 20 minutes to over an hour.
I haven't touched leetcode or interview prep materials in ages since joining, so I really only hit the books about two weeks after leaving. My daily routine would be to exercise in the day, eat a protein heavy meal, and study up leetcode into the night at a 24/7 cafe. I would usually do this with a buddy or two who are freelance developers. I also kept a spreadsheet of jobs I was interested in and updated their statuses in where I was at in the process, who the point of contact was, when the interview dates are, etc. I wanted to end up at a FANG company since their offices were much closer to where I lived and the culture there would help me grow more as an engineer. My process was that I started off with companies I didn't quite care about to practice interviewing, and then build up to places I did want to end up working at.
I slowly but steadily practiced coding problems, took my time to understand what the solutions were, and apply those skills onto other problems that came up. In reality, most programming problems you encounter are really just other problems in disguise, and you just need to know the fundamentals of CS to get through them. I'm sure everyone wants to know what my stats are, so here they are: 64 easy, 50 medium, 15 hard.
After a few months of practice and interviewing at companies I wasn't particularly interested in, I started applying for places that actually interested me. In the end, I got two offers and was able to negotiate with a FANG company that has an office 10 minutes away from my house. I not only nearly tripled my TC, but I also got leveled up to an L4. After being stuck in L3 for almost two years with shit pay, I am glad my patience and steady progress paid off.
My lessons learned in this whole experience:
As for my tips for the interview prep:
Most of my system design solutions came from experiences I've had and a lot were creative, open-ended questions. My advice is to be likeable to the interviewer and not BS your thought process. For some reason, system design is something that comes the most natural to me, so I sadly can't give much tips for studying on it besides seeing for yourself how current systems are built.
And in general, you should be likeable to the interviewer. Smile, ask them what they work on, what cool projects they've done at the company, what their work life balance is like, etc. You're interviewing for the company and you're interviewing the company for yourself. Your interviewer is judging on whether you'd be a good person to be around with for 8 hours and help contribute to solving their problems, and you're judging whether the company you're interviewing for will make you enjoy yourself being there.
Everyone's experience is unique and certainly not as relaxed as mine. I thankfully had enough savings to last me almost a whole year without a job, but I realize others might not be fortunate enough to have that luxury. It'll be hard, but worth it to study up in the evenings and then take days off to go to onsites. In the end, what matters most is your sanity and happiness.
Tl;dr: job sucked, I got PIP'd, quit, took time off, studied, interviewed, and accepted a FANG offer that tripled my pay in four months.
submitted by worried_about_pip to cscareerquestions [link] [comments]

From being PIP'd at a startup to leveling up into a FANG in four months.

When my manager sat me down in our 1:1 to deliver me the news that I was about to be put on a PIP the next week and to use the weekend to think what my next step should be, my initial reaction was to want to take it and save my job. I knew I've been in a bit of a slump, sleeping very poorly, and not outputting as much as I could have. But to be quite honest, this was a blessing in disguise.
The company I've been working at wasn't doing that well to begin with. We raised a series D in just under two years of existence and my options have quintupled in value since joining, but we've had regulational troubles and the hardware team has been slipping. Our CTO was fired four months after I joined, and our new CTO promised to double our engineering headcount by the end of last year. We've maybe only added 5 people to a team of 30 instead by that point. To that end, I've had multiple manager changes within that time period: a total of five managers and six manager changes all within 12 months. As this was my first job out of college, I thought this was all normal for a startup.
In addition, the pay was very low. For a new grad that didn't know better, like yours truly, that number was a lot for someone who was only ever paid hourly. But after discussing with friends that went onto working at FANGs and other, more established unicorn startups, it was abundantly clear that me and my fellow colleagues were severely underpaid. Like, over 50% lower in base salary alone underpaid for the same line of work and more stress.
The work itself wasn't that great either. It was a system that had to be supported globally with different rules in different countries and with physical hardware that we had little control over. Nobody left the office before dinner was served, and seldom did people start going home after dinner was finished (well, up until recently since people stopped giving fucks). We had almost no senior engineers either, most of the work was done by fresh grads or interns from top CS schools. We maybe had only four veteran IC's, but the rest of the "senior" staff were in management. Everyone else was a new grad or junior engineer. You wouldn't find anyone that had more than two years of experience in the rest of the crowd. It's fun to be around people my age, but the work was sloppy and stressful when shit broke because you're trying to build something with little guidance and your code reviewers are other new grads that are equally as experienced as yourself. Nobody (besides maybe three people) has ever coded in the framework we used, and everyone learned the language and framework right on the job. Our only training was a link to an official guide.
I'm not going to get into the company politics, but it's sufficient to say our Blind was so spicy to the point screenshots of several call-out threads were brought up in meetings and mentioned in all-hands. It was pretty bad.
But going back to me getting served a PIP. My manager gave me an ultimatum: either take the PIP, or take severance and interview for another company. Over that weekend, I thought really hard about all the things I've seen and done in the past year, and quite frankly, I found that I haven't been happy at that place for a while now. It doesn't make sense to try to save a job I wasn't going to be happy at, where I get paid peanuts, and where my contributions are invisible to upper management because the longest I've had the same manager for was two and a half months. I decided to take the severance and leave.
This gave me time to relax, exercise, enjoy hobbies I haven't done in months, and most importantly, spend time with family and friends I haven't been around with because of this job. Oh, I forgot to mention that the company moved headquarters halfway through my tenure and bumped my commute from 20 minutes to over an hour.
I haven't touched leetcode or interview prep materials in ages since joining, so I really only hit the books about two weeks after leaving. My daily routine would be to exercise in the day, eat a protein heavy meal, and study up leetcode into the night at a 24/7 cafe. I would usually do this with a buddy or two who are freelance developers. I also kept a spreadsheet of jobs I was interested in and updated their statuses in where I was at in the process, who the point of contact was, when the interview dates are, etc. I wanted to end up at a FANG company since their offices were much closer to where I lived and the culture there would help me grow more as an engineer. My process was that I started off with companies I didn't quite care about to practice interviewing, and then build up to places I did want to end up working at.
I slowly but steadily practiced coding problems, took my time to understand what the solutions were, and apply those skills onto other problems that came up. In reality, most programming problems you encounter are really just other problems in disguise, and you just need to know the fundamentals of CS to get through them. I'm sure everyone wants to know what my stats are, so here they are: 64 easy, 50 medium, 15 hard.
After a few months of practice and interviewing at companies I wasn't particularly interested in, I started applying for places that actually interested me. In the end, I got two offers and was able to negotiate with a FANG company that has an office 10 minutes away from my house. I not only nearly tripled my TC, but I also got leveled up to an L4. After being stuck in L3 for almost two years with shit pay, I am glad my patience and steady progress paid off.
My lessons learned in this whole experience:
As for my tips for the interview prep:
Most of my system design solutions came from experiences I've had and a lot were creative, open-ended questions. My advice is to be likeable to the interviewer and not BS your thought process. For some reason, system design is something that comes the most natural to me, so I sadly can't give much tips for studying on it besides seeing for yourself how current systems are built.
And in general, you should be likeable to the interviewer. Smile, ask them what they work on, what cool projects they've done at the company, what their work life balance is like, etc. You're interviewing for the company and you're interviewing the company for yourself. Your interviewer is judging on whether you'd be a good person to be around with for 8 hours and help contribute to solving their problems, and you're judging whether the company you're interviewing for will make you enjoy yourself being there.
Everyone's experience is unique and certainly not as relaxed as mine. I thankfully had enough savings to last me almost a whole year without a job, but I realize others might not be fortunate enough to have that luxury. It'll be hard, but worth it to study up in the evenings and then take days off to go to onsites. In the end, what matters most is your sanity and happiness.
Tl;dr: job sucked, I got PIP'd, quit, took time off, studied, interviewed, and accepted a FANG offer that tripled my pay in four months.
Original
submitted by cscqsim_repostbot to CSCQSimulator [link] [comments]

A LOT of red flags: why I wouldn't touch DX.exchange with a 10-ft pole

DX.exchange sounds pretty cool. Who wouldn't want tokenized stocks? Hell, maybe one day I could even use them as collateral for a MakerDAO CDP, right?
I had an open mind when I started poking around DX.exchange. I like the idea. I want a project like this to succeed. Hell, they even got media coverage from CNBC and Bloomberg so they must be legit, right?

But its full of red flags. Here's a TL/DR:
Obscure legal structure
I get that sometimes crypto businesses need to use unusual legal structures to stay compliant but theirs is particularly weird. On their website it states that stocks come from "Market Place Securities MPS Ltd,Cyprus Investment firm regulated by CySEC" and DX is registered in Estonia. All of the employees are based in Israel except their CEO who is based in London.
So if something goes wrong and you want to take legal action... Well good luck as they're distributed into at least 4 different countries. (This isn't what we meant when we said we want decentralization.)

Fudging information about the number of employees
The About Us section on their website claims they have "over 70 R&D engineers". So I went to their LinkedIn page to verify that figure: screenshot. As you can see, they have only 32 employees including very few engineers. Most appear to be marketing people. Almost all of the employees are based in Israel. Not Estonia or Cyprus. Many of them don't even reference DX.exchange as their primary job.

'Digital stocks' traded on DX are issued by MPS, which used to be SpotOption, a company banned from operating Binary options trading in Israel that was raided by the FBI.
Another redditor pointed this out a few days ago. If you look closely on their website, it states "Digital Stocks are provided by Market Place Securities MPS Ltd,Cyprus Investment firm regulated by CySEC, license number 170/12. " Here's the corresponding page on CySEC's website. You'll see that MPS used to be SpotOption but changed their name.
When this was brought up about a week ago, a representative of DX replied:
Dx.Exchange is not associated to SpotOption in any way.
In our Israeli branch we have hired some former spotoption employees, but also hired many more from the banking industry and online industry in all our business divisions.
...
In regards to MPS Marketplace Technologies ltd., it is our understanding that MPS has done an agreement with the defunct Spotoption group to obtain their market maker license. We have done our due diligence and found MPS comply with all regulations, therefore we were comfortable forming the partnership with MPS.
So let's unpack that: MPS technologies used to be SpotOption. DX claims the only link between SpotOption and DX is that MPS 'obtained' a market maker license from Spotoption (as opposed to getting their own market maker license...). Oh, and DX hired some SpotOption employees.
Interestingly, when I looked up DX employees on LinkedIn, the CEO of 'MPS Exchange' showed up, and apparently before he was CEO of MPS Exchange, he was CEO of 'Spot Capital', another company in Cyprus with a name that is surprisingly similar to 'SpotOptions'.
Also, MPS' website, mps.exchange is using the same DDoS mitigation as DX.exchange: Whois for MPS. Whois for DX and both used Domain Privacy Protection which is fine for your personal blog. Not so fine for a cryptocurrency exchange.
All of that is circumstantial evidence, but it sure is piling on. I'm sure that beyond the things I found here, there's absolutely no links between all of these companies. /s
Major security breach
Dan Goodin at Ars Technica is a reputable tech/security journalist. In this article about DX.exchange he writes:
When [a whistleblower's] browser sent DX.Exchange a request, it included an extremely long string of characters, called an authentication token, which is supposed to be a secret the site requires when a user accesses her account. For some unexplained reason, DX.Exchange was sending responses that, while valid, included all kinds of extraneous data. When the trader sifted through the mess, he found that the responses DX.Exchange was sending to his browser contained a wealth of sensitive data, including other users’ authentication tokens and password-reset links.
...
anyone with possession of a token can gain unauthorized access to an affected account...
Data and funds were at risk. I'd call that a major security breach. It's also quite possible that someone other than the whistleblower has stockpiled all that data. Per Dan Goodin, it's also probable that administrator credentials got leaked.
Dan Goodin really ripped these guys a new one:
Ars notified DX.Exchange officials of the leak on Tuesday afternoon. Eight hours later, a member of the site’s security team responded to ask for more details. A few hours later, officials announced a site maintenance update, but even after the site came back online, the leak continued. A little after 8am Pacific Time on Wednesday, the security team member emailed to say the bug had been fixed and thanked Ars for bringing it to his attention. A brief analysis by Ars appeared to confirm the leak was plugged.
The site official offered the following statement:
The bug was immediately identified and suppressed the minute [we] received Ars Technical [sic] professional feedback. DX is in a Soft Launch, where we got some unexpected and positive mass attention from news media all over the world. Due to the high volume of interest in our platform and heavy signups, we discovered some bugs, most are fixed, few are going under examination right now. We are confident to be able to fix them all and finalize our launch in the shortest time.
Ars sent a response asking if DX.Exchange planned to reset all user tokens or passwords and to notify users that a leak exposed their names and email addresses. So far, the officials have yet to respond.
Clearly, the bug was not "immediately identified and suppressed" but rather was live for almost half a day. Goodin identifies additional security holes in his article. Read it if you're curious.
So there you have it: they're running a cryptocurrency exchange with Mt. Gox-level security. There's a massive risk to any funds you deposit there.
There's a ton more red flags that I spotted but didn't include and tbh I haven't even dug that deep yet. Also, I'd like some transparency from CNBC and Bloomberg as to how/why they publicized this obvious scam exchange.
edit: fixed screenshot and 2 links
submitted by Priest_of_Satoshi to ethtrader [link] [comments]

XCOM: Asset Assualt

2035: Ethereals have suffered an immense defeat at the hands of XCOM. Their base had been raided by a mere force of seven operatives. They killed hundreds of ADVENT's soldiers, and it ended with very few casualties for XCOM. The Ethereals had tried to talk the to the Commander, but it was as fruitless as trying to fight the Human resistance outside of their base. Even when they tried to kill him with their metaphysical forms, their forms were still ended.
2038: After every remnant of ADVENT was wiped clean from Earth. XCOM's leaders founded a government to replace the ADVENT Coalition. John Bradford and the Commander were then known as the founding fathers of the Terran Republic. A government that was loosely based off the original United States of America, with the values of both social and economic libertarianism. Its first President was the Commander with Bradford as the Vice President.
2050: Psionics in humans grow in numbers in men. An unexplained event that happens when humans are exposed to elerium or other psionics. The Republic hired several Psi Operatives in to the DPS, which stood for the Department of Planetary Security. Most worked in the private sector, so they could manufacture alloys and synthesize elerium.
2060: Psionics increased to the point where it reached one in four for men. The numbers were even lower for women, which stood at one per every thousand. This mystery of disproportionate psionic power had no explanation to Earth's population. But the most common theory was that it had to do with better emotional control in men.
2077: An FTL experiment was preformed by Tygan-Shen Corporation. In which a wormhole was created at two points with an experimental Psi-Drive. Those two points led to various ends of the galaxy, which meant unlimited travel range for Humanity.
2093: Mass colonization efforts went underway on Earth. Hundreds of thousands of peopled set out for the stars to find more home for themselves. These efforts were funded both publicly and privately, with a hundred colonies being founded by the government. Many of the largest colonies were: New York II, New Los Angeles, New Detroit, and New Dallas.
2110: Alien base discovered on Mars. Found by Tygan-Shen Corporation's Hyperion Research Station's survey drones. A group of soldiers and scientists contracted by Tygan-Shen Corporation only found mention of a long lost alien civilization and a star chart. In that chart they found several dots that went through the radius of the galaxy. XCOM was given the coordinates to all the dots around the galaxy, they start with the one in Sol.
2118: Upon discovery of the relays, the Terran Republic mass mobilized ships. Over the past eight years ships were manufactured by Shepard Industries. By the end of their eight year contract, they had built 500 warships of varying classes. Twenty of these ships were expensive capital ships that cost as much as the Capitol Star Base each.
2151: First contact happened at New York II. These aliens called themselves the asari, and even announced they came in peace. But their emissary vessel was surrounded by cruisers until President Vladimir Yankovich greets them.
The President of the Terran Republic stood in the greeting room of the asari ship. His two psionic guards in powered armor by his side if anything went wrong. But these alien guests seemed to live up to their word, for now at least.
As it would seem, the design of the ship did not look like it was intended for warfare. Their designs were more artistic than militaristic, like the Oval Office in the Capitol Star Base. Though, they could still have ulterior motives for contacting Humanity.
This second contact could be the Second Ethereal War all over again. Which ended in Humanity having control of the most advanced technology in the universe. But wiped out over one-tenth the Human population of Earth when it happened. Then they formed the tyrannical, socialist state known as ADVENT.
These aliens could have the same intentions for Humanity. They contacted Humanity seeking advanced technology alone. Most likely, they had noticed the space time disruptions from human ftl drives on their telescopes.
But the President might have been acting paranoid, because telescopes can only detect disturbances that occurred years prior. It would have been detected thirty years after the event happened. A lot of time to waste watching the stars for something so trivial.
"These aliens sure do have a sense of style," commented Agent Richter with a look of fascination his face.
"Yeah. I can admit. They do have more of a style than us. In art. Not technology, we still hold that honor," replied President Vladimir.
It mildly bothered him that his bodyguards had a fascination with these aliens' culture. They should have been protecting their VIP, not ogling the aliens architecture. If they like these 'asari' they should revoke their Terran citizenship right then. It was the right thing to do for their species as a whole, this is human space.
One of the last things congress would have wanted were alien nationals walking in Human Space. His party would want him impeached if he gave aliens human technology as well. So as soon as the door opened in front of him, he would have to tell them Humanity was to stand on its own.
Humanity agreeing to any laws or treaties with them could prove politically disastrous. It could make humanity's status as a galactic power falter. As Aliens would gain access to human technology from agreements. Vladimir would never sign such an agreement when the time ever came.
Maybe the President was just getting ahead of himself. The aliens had not even shown their faces yet, and he was worrying about his people being politically screwed.
The whole meeting was just a wait in a well-lit meeting room. It was like waiting for an appointment for a doctor or psychiatrist. Never a very pleasant wait, as it felt like the President had been there for several hours standing.
The wide, oddly shaped door had opened in front of the President and his DPS guards. These aliens were different from the four-armed psychics they had expected. They were blue humanoids, with the shape of a human female. Instead of hair they had ridges that gave the Illusion of extremely short hair.
Some were wearing armor, while others wore futuristic looking clothing. Their fashion sense was very futuristic compared to the early 20th century traditionalism Humans were used to. But not extremely different from ADVENT's styling to say the least.
"What's with the heavily-armored guards? We've stated our intentions are not hostile," commented the Asari with a stern voice.
"I'm the head of state. Many people want me dead! Socialists, other radicals. Those nutjobs in our territory who rioted when I was elected President," stated Vladimir while he steepled his fingers.
"I see. What's ADVENT? Learning about other species is why I took this job," asked the Asari Diplomat sternly.
"An alien puppet government that ruled our race. Set up by aliens called the Ethereals. We overthrown them when we found out about their experiments. After the war, corporations used their tech. That's where we get these," said the DPS Agent who was showing the aliens his plasma rifle.
"Maybe we should make sure that weapon doesn't violate any Council weapons treaties. Can I have a look at it," asked the asari in armor.
"I'd have to respectfully decline, asari. We have no intentions of joining the Council in any capacity. So, those laws don't apply here," replied Vladimir Yankovich in a stern tone.
She looked disappointed, Vladimir could tell by her facial expression. Even some hints that he may have been a little condescending. But why should he worry, they were more worried about not having humanity in their galactic clubhouse anyway.
"I see. I can respect that you want to put your species first. After every thing that happened in your history. But it's short-sighted," replied the diplomat.
"Short-sighted? You have nothing that we don't already have. We've got better weapons tech. So, in-terms of military we can stand on our own. So how am I short-sighted," the President explained calmly, as he steeples his fingers fingers again.
"I can see why you think that way. But how taxing is your military? That type of high-tech army must cost you countless credits," replied the diplomat.
"Credits? Humanity uses Terran Republic Dollars," he said as he pulled a thousand-dollar, plastic bill from his suit pocket to brandish to the diplomat.
"Interesting. Your species still uses physical currency? Despite all the advanced technology you have at your finger tips. Humans still use physical currency," replied the Diplomat with fascination in her eyes at the fact.
The asari diplomat looked to the President as if he was being condescending. He was being condescending when he waved that money around like he was a big-shot. Politicians were rich, but they were never known to boast about their wealth.
"What type of economy does your species have," asked the Diplomat out of curiousity.
"We have a pure capitalist economy. No social services except the basics: municipal and federal departments, and the military. By doing this, we have low taxes and a thriving economy," replied the President with his head held high.
"How 'thriving' is your economy? What's your GDP," questioned the asari with a look of distrust towards the President and a hint of cynicism.
"You can take a read at this tablet. It will give you all the info on our culture. Our economy. Everything of that sorts," replied Yankovich as he handed the asari his tablet to give the aliens.
"This exchange was rather entertaining. But I have to go back and meet with Congress. They'll decide on what to do about this," continued President Yankovich..
"Farewell, Human," replied the asari to the President.
Yankovich was happy, he simply just gave the aliens information on human culture and history. It was nothing that would give them important human tech secrets. But he did know the rival party of the New Republican Party would have a field day. They would just want to use this to get Yankovich's rival elected in the next few months.
As he and his guards walked back to their ship, he contemplated what these events could do. It could get the Utilitarianist Party into power. Maybe even more seats in Congress or even worse, the House. Just a massive political fallout that could ruinYankovich's chances at another Presidential term in the Oval Office.
The Utilitarianist Party stood for the opposite of Yankovich's Party. They would see this Second Contact as an attempt to force alien immigration. Which would result in increased taxes, increased poverty for humans, and just an overall lower quality of life. The Founding Fathers fought against this, not for this kind of stuff.
Not to have humanity's liberties stripped away from them like it was long ago. That was why the Utilitarianist Party was called ADVENT 2.0. Because most of their election policies were against the Terran Constitution. One example, was when one of their presidential candidates wanted to ban plasma weapons and powered armor for private use.
So, to most citizens that were sane in Yankovich's mind, they would all vote for him. He represented their freedoms more than the rival party ever could. The freedom that almost a billion people died for a hundred years ago against the Ethereals, and lastly, ADVENT.
It was like the American Revolution, but with aliens instead of the British Empire. Humanity being harvested like last time, was just not something the President was going to let happen when he gets to Congress. Aliens were not going to run Humanity, and the New Republican Party was going to see that never happened again.
Around the stars of Alpha Centauri in the nearby sector of the Sol Commonwealth. A massive star base headed the executive branch of the Terran Republic. All decisions and policy changes happened from this massive spacestation. It was called the Capitol Star Base by every human in the galaxy for a reason.
It was massive, the size of Manhattan Island back on planet Earth. Taking a surprising cost of twenty trillion dollars to construct this space city. But it was the ninth wonder in human history, despite the massive cost and time it required.
In appearance, the Capitol Star was just a large ring shaped space station. One that rotates from far orbit of the hot Jupiter in close orbit to the binary suns. It had three ring habitats that orbited a centrifuge in between them. Each were small cities in their own right, the outer ring was Residential, the inner being the Commercial District, the smallest ring was the Capitol District.
It was a very well-defended Star Base as well. Using dreadnought grade fusion lances to protect it from meteors, and alien ships. With a fleet, it was impossible for any fleet to destroy the station without great losses.
Law enforcement of the station was handled by the Federal Bureau of Law Enforcement. A heavily-armed group of militarized police that keep order in the Capitol Base. Unlike most worlds, it was the federal police who handled law enforcement on the station. Which made sense, as it was the Capital of the Terran Republic.
The centrifuge was the President's home, a large one kilometer home that the President lived inside. It was the White House of the far future, complete with elevators to traverse the hundreds of floors inside the home. But this came at a price, the home watched everything the President had ever said and uploads it to the Internet.
This watch over the politicians gave the citizens the ability to make voting decisions on their leaders. They sacrificed their privacy when they chose to be the leaders of their species. The only party that complained was the Utilitarianist Party, they believed it violates the Constitution.
Another thing the Capitol Star Base did was count the electoral votes for the Presidential candidates. As the Terran Republic copied all aspects of the United States of America. It made sense they would copy every single aspect of that ancient government.
Every single aspect was taken from the Commander and John Bradford's knowledge of America. From what they view as the most free country to ever exist in Earth's history. Humanity graciously supported that idea after suffering from ADVENT's tyranny. It was another reason why a common slang for the city was "New Washington DC".
Both being capitals of governments that hold freedom in high regard. Both had functioned in very similar ways, except the Capitol Star Base was in space. Which was a blessing for the whole of mankind in general, because it could stand as a military command center.
It was in the Executive District where Congress and the House of Representatives were making the decisions about the Second Contact. Two parties were debating about how to respond to these new aliens.
One third were of the Utilitarianist Party; the other sixty-six percent was of the NRP. One side had seemed to for the aliens, the other was Humanity first. Utilitarianists wanted Humanity to benefit the aliens because they were a potential majority. NRP wanted to ensure that Humanity never suffered in the slightest to benefit a collective majority.
The leader of the Terran Empire was a member of the NRP. He was responsible for making sure that Human interests weren't violated by the minority of congress. President Yankovich cared too much for his people as he stood on the podium.
In the seat on the left of the ring, Congresswoman Sloan had different opinion. She wanted to give the aliens easy citizenship into Terran Territory. Not just citizenship, welfare benefits that take money from hard-working Human beings. To make matters worse, she even wanted to give the X-Rays free medical care from the taxpayers.
"Yankovich, you're saying we should just treat these aliens as Neighbors. That's it," asked Sloan in confusion.
"Yes. That's most logical course of action. They could crush our species like the Ethereals did last time. If they get access to psionics. Or God forbid… our naval technology. We'd be doomed. We lack the numbers to protect our species without our edge in tech," responded the President in shock at the Congresswoman.
"It could also benefit our economy. But we'll have to sacrifice the Terran Dollar for the Council Credit," replied Sloan.
"Our economy is thriving. Our GDP is at ten quadrillion dollars, and rising slowly. Our treasury has a twenty-five quadrillion surplus," rebuked the President with a smile.
The NRP members of the Congress were cheering. Reporters watched the whole debate, and were broadcasting it all over every world in Terran Territory. Polls were spiking high for President Vladimir Yankovich in the next election as a result of his comment.
Yankovich was looking in confidence that his re-election would be secured. All thanks to his objectivity when speaking with the legislative branch. It was just like an educated man debating a hippie in a political argument, all facts, and no opinions.
"What about the future of the galaxy. It's more than just simple Human egotism we got to consider here," responded Sloan.
"Our species matters. Not some blue aliens that your party has been claiming are like us. They're not like us in any conceivable way. So why should we bend to their laws and regulations, Sloan," replied Yankovich with a grin.
Sloan just remain silent, which meant the President's arguments were too sound to ignore. President Yankovich was always a politician that valued logic over selfless morality. He knew that Humanity had owed the galaxy nothing. As he knew that compared to the other species, Humanity was most likely an endangered species. Sloan probably realized by her silence, that Yankovich was the smartest man in that whole room full of thousands. Her political career was shot, she destroyed it by saying alien lives were more important. Yet, she was only following her party's philosophy.
Months after the congressional meeting, XCOM was in decline. Their funding was cut by a Utilitarianist Presidency twenty years prior. They had to rely on funding from mega corps to stay afloat.
Like XCOM in 2015, they had a Council. But this Council was a group of several mega corps that provided small funding. How small? On average it was around 150 million dollars every month from each corporation. These companies had seen a future alien invasion as bad for business.
XCOM was seen as a relic from a time past. No longer needed for humanity's survival, and simply cast aside for more peaceful methods. Those peaceful methods could jeopardize the security of humanity's foothold in the universe.
Because of the lack of funding, XCOM no longer had the funding to create powerful ships. They had to rely on stealth vessels. These ships were weak, and had regular lances for defense against enemy ships. Their only asset was stealth, and nothing more.
XCOM's soldiers were now nothing more than mercenaries fighting for the next pay check. They were often ex-marines from the Terran Military that came across XCOM when looking for options in security consulting. But there were still screening in their services to make sure they were the best soldiers XCOM could get.
Most of these soldiers were cheap, because their equipment was from their tour of duty. It was one of the perks of working for the Terran Military, it was free gear. But the downside was that skilled Psi-Operatives charged the most. As they were the hardest soldiers to come across, because they were the special forces of the Terran Military.
Psi-Operatives could be paid more for greasing the wheels of a Corporate takeover, or mind-controlling
a rich teen's crush. Despite how petty these options were, they often proved far less risky for the reward. And the most despicable thing about these actions, they're all criminal.
XCOM would hire criminals by often faking their deaths, and replaced them with clones. These clones usually get killed due to a lack of their surroundings. Many Psionic-sensitive individuals who were convicted of crimes such as: serial-murder, rape, and fraud, were hired from prison. This gives them a second chance at life, and a whole new identity.
There was a high criminal population in Psionic-sensitives. It was due to their power that gave them divinity-complexes. That often manifested themselves in crimes such as fraud and rape mostly. Because of this, people think rich psionics mind-controlled their way to the top. Despite this, they were still important individuals to primary industries in Human space.
XCOM was planning a way to create its own super soldiers. Their plan was to use young offenders who were locked up in maximum security adult prisons. They would only get training if they had strong psionic sensitivity. Outside of that, they'd rely on their augmented physical and intellectual abilities to secure victory.
This project was called the Asset Project. That was an endeavor to create soldiers that were superior in every conceivable way to humans. Twice as intelligent, five times as strong, and a lot faster than any human at the top of those areas. The brainchild of this operation was a man named Jack Harper, XCOM's top scientist.
In a base under the oceans of Europa, surrounded by strange lifeforms of all types. XCOM's Headquarters was safely hidden from the public's eye. Everyone inside could see the surrounding ocean, because the architects used windows made from nano material. Frames around these windows emitted holograms and light.
XCOM's board of directors discussed the future of XCOM. Harper the Science Director, wanted to present the Asset Program to the Chairman, Stephan Hackett. But all they did was discuss the funding, and the construction of their newer stealth boondoggle.
"Funding for the X-12 prototype costs billions. I think I have cheaper solution," asked Harper as he poked the center of his glasses.
"What is it, Harper. Not another ludicrous alloy that's one-percent better than previous generations, I hope," replied Hackett as he ran his finger through his beard.
"No. I present the Asset Project. Which is an endeavor to create a small group of super soldiers. These soldiers will have twice the intellect, five times the strength, and twice the speed of even the best in those human attributes. And for just 400 million, we can create an unstoppable army of supermen," replied Harper in amazement.
"Super soldiers? How do you intend to create these supermen," questioned Anderson, the Director of Engineering.
"Simple. The technology's a century old. Molecular Nanotechnology. Small implants that contain billions of nano machines in each. Each implant could enhance one ability. For example: stimulating the production of adult stem cells, which can give a soldier the ability to recover from crippling injuries in days. That's the first implant. The others are still on the drawing board," explained Harper.
"That's fascinating. But what makes them so unique from other soldiers," questioned Hackett in confusion.
"Training. Except for psionics is a non issue. All they need to know is how to shoot or throw a grenade. The rest will be gained from their superior intellect, which will allow them to adapt quickly to their foes' movements. Their reflexes and their increased IQ will make them able to aim with perfect precision," elaborated Dr. Harper.
"That's brilliant, Harper. If they learn fast enough…well. Training is just the battlefield. Their abilities combined make one invincible," replied Director of Engineering, David Anderson.
"What are the candidates for this Project going to be," asked Hackett questioningly.
"Juvenile offenders that are aged 14-16. Not the petty criminals. The hardened ones who robbed banks, or shoot up schools. They would not be missed when we snatch them from prison," answered Dr. Harper with a devilish smile.
"Brilliant. But I'm going to need to shelve your idea for now. Once we've determined that there are threats to humanity in space. The Asset project will be immediately activated. Until then solve work out the other implants," replied Hackett as he steeples his fingers.
On the well-lit area of the Presidium, a Human diplomat met with the Citadel. His name was Donnel Udina who hailed from East India. This was his first negotiation as a Diplomat, before, he could only get a job as a hostage negotiator. His job was to inform the Council on the Congress' decision.
The ring of the Presidium reminded Udina of the Residential District of his current residence. It reminded him of that when aliens looked at him in curiosity. All of them wanting to engage Udina in conversation. The Commandos telling people to not distract the human as he walked to the Presidium elevator.
There was an asari diplomat at the elevator to the Presidum Tower. She was the same Diplomat the President spoken with a month ago. She waved at Udina as he was being escorted to the location. Not even the President knew her name, she was a mysterious character.
As he moved in closer she made eye contact with Udina. Udina looked at her back, and realized how similar alien social cues are to humans. He could tell by that she wanted him introduce himself.
"My name is Donnel Udina. I'm the soon to be Secretary of Interspecies relations. Who are you," said Udina with a boastfulness.
"My name's Nassana Dantius, I'm the Diplomat who talked to your President. You have the exact same attitude as well," she said, as she shook her head a bit in disappointment.
"I'm just here to give the Council the President's decision. After that I'm going to have lunch with an online date from the Internet," replied Udina.
"Okay. Let me just get you to the Presidium Tower. Oh, I'd recommend changing your attitude. I can understand your attitude towards aliens. If I was in your President's position it would be no different. But let's just say this Council is no-nonsense. Sort of," explained Nassana with frustration over the Council.
Udina and Nassana walked into the elevator. Udina got the unfortunate privilege of listening to the terrible elevator music that looped. Even the frustrated Asari could not take the music, it was like she was on her last straw. She was frustrated with her job as it was.
"What seems to be the problem, Nassana? You seem kind of… frustrated," asked Udina with sympathy over her emotional state.
"The Council was not happy that I could not get your President to join them on the Capitol Star Base. Because they wanted to see the technological wonder your species created within less than a century of going to the stars. It was basically the first non-prothean mega-scale engineering feat," replied Nassana.
"That's just a large Stanford Torus. We had those in concept since the 1970s. Over a hundred years before we left our home planet," replied Udina as he downplayed the feat of technological engineering.
She was now calm and quiet, as she realized it was just a century old concept that made it into reality. In that Udina explained the Capitol Star Base, the elevator reached the Council Chambers. And the transparent, plastic door slid upward.
Nassana left Udina as he walked up the stairs to the Council. He was amazed how these Protheans blended nature and technology. There was trees that decorated the office, and they were tall alien trees from New York II. These Protheans must have explored the galaxy to gather all these plants. He even wondered if the Protheans were victims of the Ethereals from their disappearance.
As he met one of the councilors. Udina noticed three, one salarian, one asari, and one Turian. One of them looked directly at Udina with suspicion. The Asari was neutral; the Salarian seemed fascinated with the human.
"It's interesting to finally meet a Human. I assure you we're not how your reactionary President paints us," greeted the Asari Councilor with gratitude.
"I would not call his suspicion xenophobia. He's just afraid his rival party would increase taxes on the rich and middle class. As well as lose human cultural identity to appease aliens," explained Udina with a smirk.
"Why would they raise taxes on hard-working humans? Is it to help the poor? Pay for medical? Or anything like that," asked the Turian Councilor with suspicion.
"Of course. But not help us. It's to incentivise immigration for aliens. Give them free money and services at taxpayers' expense," explained Udina with concern.
"Looks like your species needs to clean house. That's not appeasing. That's just merciful racism that only benefits aliens. It's like they're just rear-kissing," replied the Turian Councilor.
"What's that 'political party' called," asked the asari councilor with disdain as she finger quoted one of Udina's sentences.
"The Utitilitarianist Party? The Yankovich Administration laughed it out of existence with his arguments to Congresswoman Sloan. They do, however, make up one third of the Legislative and Executive Branches of our government. I hope they dissolve! They lost credibility with one of their President's, who cut funding to XCOM. When Yankovich won. Their voters rioted on the streets. Dragged rich people out and killed them," replied Udina with disdain over that political party.
"That party will eventually dissolve. They made a fool of themselves recently. I don't think they'll recover," said the Asari Councilor with reassurance about that problematic party.
"Your technology. Speaking of which, we won't be able to reverse-engineer. Your species is the only psionic-sensitive species left. No psionics, no reverse engineering your technology. So only a small few of the galactic community's undesirables can get energy weapons and power armor. And we doubt they can attack even a freighter. So your species' weapons would only appear on black markets for immensely high, prohibitive prices," explained the Asari Councilor.
"Good. Now that I know my species is going to be fine. I think the President will be happy with the results of this diplomatic meeting with your civilization," said Udina as he was going to leave the Council Chambers with the news.
submitted by JacksonHarper12 to HFY [link] [comments]

[Table] I am a Tesla Model S owner, AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-02-16
Link to submission (Has self-text)
Link to my post
Questions Answers
If there was one thing you could change about the car what would it be? (Im a Telsa Engineer so I want to some feedback) My wife says a way to close the charge port from inside. She always forgets to. She'd like to have the profile remember her radio station too. And a place to hang dry cleaning. I'd like the car to know which of our two keys goes with which profile. I hit my head on the roof because she likes the seat so high. I mentioned some other stuff below, but it's all pretty minor. pm me if you want more.
*Tesla Engineer.
And a place to hang dry cleaning. What? We get some office clothes dry cleaned and we have to lay them down in the back of the Tesla because there are no handles or hooks over the doors like every other car we've ever owned.
Was the decision to purchase such a high end vehicle more of an impulse buy or did you research for a while and look at other options? Are you satisfied with your purchase? Anyways, I hope you are enjoying it! TL;DR Satisfied and love the car, the total cost was still personally quite high.
It was not an impulse. I have a friend who got the Tesla Roadster, and he let me drive it, first on the road, and then at an auto-cross track. (It drove like a sports car). But we didn't want a sports car, we preferred the sedan, so when the Model S was announced, we thought about it a lot and decided to get it, part spoiling, and part to support the idea of nice electric cars. We put some money down a couple years ago, and the more when we decided to get the signature series. We got the signature series in part because it brought us to the front of the line, and from the belief that having a limited edition version of a car can help preserve its resale value. I'm really satisfied with the car, I really enjoy it. The only regret is that it really was a lot of money, beyond what we planned. The car was announced as $57,499 with a $7500 federal tax credit for getting an electric car, but once you added the options, primarily longer battery range, it rose to $100k. We had big reevaluate and decided to go ahead anyway.
At what kind of average, stable income do you feel getting a car with this high of a price is worth the return on gas savings? Secondly, do you believe it is worth mortgaging the car to buy it? I got the super high end version for $100k, and I wasn't very comfortable with it. I paid cash because I hate consumer debt. It put a big dent in my retirement savings but I really want the world to have electric cars that are nice instead of like souped up golf carts. Honestly, I'm not the best expert to say what stable income you should have. I will say that you save a lot on gas and actually on maintenance, so I think it becomes comparable to other slightly "cheaper" luxury vehicles like a Mercedes, BMW, or Lexus.
In what way does an electric have cheaper maintenance...? I know there's less moving parts, but that battery's gonna fail sometime. You don't need a bunch of things like oil changes, and the fewer moving parts is super important. The yearly subscription is supposed to be around $600 (they haven't sold it to me yet). The battery has an 8 year warranty, so I don't need to worry in that time. The expected battery replacement cost is $12,000. So if after the warranty expires, it immediately dies, then I have spent $1500 per year, and divided by $4/gallon is 375 gallons, and if we multiply that by 30 mpg, we get 11,250 miles per year equivalent. So anything I drive past those 11,250 miles should be "free". (Unless I screwed up the math). Also, I didn't take into account electricity cost.
Other thought, does Telsa warranty the battery or the manufacture of the battery? I ask because if Telsa as a company fails in five years what recourse if any do you have? I'm sure if Tesla goes away some third party or custom guy would be able to help me out, and it would be horrible. But then I might be able to sell the car to a collector knowing there will never be any more and mine is limited edition.
What kind of miles are you primarily putting on it? City vs highway? It's a mix. I do some things nearby, and somethings about 30 miles away. I actually stopped working about the time I got it and haven't decided to get another job yet, so it just varies.
Is the car getting you laid? No. I am married and faithful, so change in car status does not change the quality or frequency of my sex life.
No. I am married. That's all you had to say. I wanted to believe my answer was a little funny.
What is the furthest you've driven it? I drove from town to a nearby ski resort, parked for the day, and drove back. The ski resort is about 75 miles away. It appeared to use a lot of my charge on the way up, but coming down the mountain I drove 20-30 miles using basically no energy.
TL;DR 150 mile trip with cold and a mountain.
You didn't have any problems with the conditions? I have performance tires and when I got to the parking lot I had very little friction. I got some spikes-spiders for future snowboarding trips.
I had to get a push to get started a couple of times, and when I got to the edge of the parking lot I fish-tailed severely. You can imagine the nervousness in such an expensive car.
How does the car ride? Does it handle like a sports car? It's super smooth with strong acceleration. The giant heavy battery at the bottom makes it very stable, but it doesn't have the agility of a sports car.
I haven't had much in the way of safe opportunities to really push the limits, but I plan to go to the track and have a trainer help me learn more.
How does it compare to other cars you have driven? Also, how is the steering feel? It's the nicest car I've ever driven. The steering feels normal. It's different than the Prius (larger wheel) but I don't really know how to describe it.
What happens if you're stuck and without a charge? Also, how long does it take to charge your car? You call Tesla and they tow it somewhere. It's shitty like running out of gas, except worse because it is an automatic tow. This has never happened to me.
Whenever I get home for the day, I plug it in and leave it and it is always charged by morning. I use a standard 220 volt plug like you might have in your garage in the US. The Tesla guy told me that at 30 amps I should get about 30 miles of range per hour. I actually have about 40 amps.
There are additional options you can buy to charge faster, like getting a high performance charger for your garage, and I think there is a double charger you can get for the car. You can get to a point where you can get a full charge in an hour, like using their super charger network.
Has the backseat seen any action yet? Yes. I regularly have people point, smile, give me the thumbs up, or stop me in the parking lot to ask me about the car. "It has speakers so loud, it blows women's clothes off."
No.
Do most people recognize it as a Tesla or are they mostly just pointing out the neat design? I think the ones who notice do so because they recognize it. But unless I talk to them I don't really know.
Was the experience what you had expected? Yes. I drive it around like you would any car, except I never go to the gas station. I was shocked at the incredible acceleration because my previous car was a Prius. The luxury is very nice as well.
One thing I didn't expect is that they regularly patch the software with updates over the 3G connection. They've fixed minor bugs and added features this way. Minor bugs were things like a small screen corruption. Features were things like profiles so my wife and I can each get our seat settings automatically remembered individually.
There have been a couple minor things that I would expect from a luxury car that were missing, like there's no place to hang up the dry cleaning. I also felt that they should have an automatic volume adjustment based on speed since there is still some road noise.
Did you pick up the car yourself or did you get it delivered to your house? How long have you owned it and how many miles have you put in it so far? When it comes to say a tire rotation would you just go to a regular mechanic or have to go to a Tesla dealership? They delivered it to me last Sept. In fact, there was a surprise $1k delivery fee on the final bill (before delivery).
I haven't needed that yet, but I'll probably go to Tesla. I'm planning to buy their maintenance plan anyway.
I also had a recent problem with my 3G, and they came and picked it up, took it back, did the repairs, and brought it back to me. No charge under warranty.
Was it a no haggle price or could you negotiate off the sticker? No haggle. They have customers on a waiting list, they have no need to negotiate. And really, I think they are pushing hard to make the money to fund the company and the next model they want to build.
They've taken a couple sources of investors to keep the company going.
Were you ever a "car person" before owning it? Do you ever miss owning a gas-powered car? I was not a car person. My Roadster owning friend had previously had a Porshe as well, and let me drive that for autocross, and that was more than enough for me.
I also really like Project Gotham Racing on the XBox.
We still have a Prius as a second car. I never drive it. But in the unlikely event we were planning a road trip and couldn't easily come up with a charging plan we would just take it.
I'm a Roadster owner myself. How does the Model S compare? Where the Roadster is sporty and optimized for speed, the Model S is luxurious and solid. The Roadster is a lot louder, obviously not from the motor, but from wind and tire noise. And the Model S is a lot easier to get in and out of, and has tons of cargo space.
I love electric vehicles. I believe them to be the future and a necessary step in human evolution. So I'm with you on it. But I have a couple of questions and comments. Ive read that the carbon cost of producing a hybrid or electric vehicle is great than a standard vehicle. Turns out that getting all that lithium is a very messy ordeal. I was wondering if you've heard the same and what your thoughts on the subject is? Are you worried about having to replace the battery in a couple of years? Thats the one thing that keeps from me investing in an electric vehicle. I don't know what my financial situation will be in 8-10 years and buying a new battery sounds like a pain. How much does it cost to completely charge a drained battery? I didn't worry about the carbon cost because I believe we need to get to having electric cars, but I also believe that battery technology is heavily researched right now and we will have breakthroughs, possibly before my battery dies. So lithium may be a relatively crappy way to build electric cars now, but once we have good charging networks, the demand for better batteries that last longer, weigh less, are easier to produce, and charge more quickly will grow.
Would you say your interest in electric vehicles is purely technology based or environmentally based? For me, personally, its 85% tech and 15% environment. My interested in electric cars is probably similar to yours: 85% tech, and 15% environmental/political. By political I mean reduction of use of oil, similar to environmental.
I don't worry about the battery replacement that much. While the money matters to me, it's too big of an unknown too far away in my opinion. It could be cheaper by then. I could have sold the car by then. They could have had to replace the battery in the 7th year by then so I feel like I've got a lot of life left in it.
We are of the same mind. I too feel we need to urgently ween ourselves from the oil teet. asap too. I had to look up the cost per charge on Tesla's site. Looks like about $10 depending on your state. How often do you change it? I typically plug it in when I get home and don't expect to go out again, even if I've driven a few miles. It's not much trouble at all, and of course I never go to the gas station.
How long do you think it will be before we all have induction chargers built into the walls/floors of our garages and we won't even have the trouble of plugging it in? Wild speculation here, but I think a long time because I don't think that will be nearly as energy efficient as a metal connection. I think more likely would something that would notice the car and just make the connection for you.
What do you do for a living? I am in the computer industry, originally a programmer and now a manager of business groups that produce software.
How warm can the interior get? How long does it take to get the interior to it's warmest setting? Thanks. BTW i really want to buy this car, but i live in the Midwest and am starting to think it's not a good cold weather car. Even going up on a snowboarding day to freezing temperatures it doesn't have trouble heating up. In fact, since it is just an electric heater it starts warming up sooner, and it has heated seats as well.
I think the heating issue is more about taking a range penalty rather than the ability to heat.
I used to live in the interior of Alaska, so I sympathize with your temperature questions, -40 is a lot different than 28. Since I don't have personal experience with the car at those lower temperatures I would talk to Tesla about it.
I want to drive one of those so bad! how much does it cost to charge to do a full charge with the standard charging system? and how is the touch screen console? Answered the cost to charge below, but approximately $10.
The touch screen console is really good. And in a recent update they added some voice commands, so I can hold a button and say, "navigate to XYZ," and it will give me a list of possibilities.
With the touch screen, you can have your music (radio, internet radio, or device through USB or bluetooth), navigation, energy consumption, rear facing camera, or web browser (I might have missed one). You can either have two of these up at once or make one full screen. Full screen navigation is quite nice. But there's also a good local navigation next to the speedometer that also shows things like going down a hill so you can see your next turn really clearly.
I don't really use the web browser because I don't want to die. But I did have a passenger use it once to look for a couple of things (again, I wasn't paying attention to the screen). I heard a rumor that they were going to disable it at some point for safety reasons. I hope if they do something like that they do it only if the car is moving and the passenger seat is empty.
I thought I would miss tactile feedback, but there are good hardware controls on the steering wheel for the most common things, so it hasn't been an issue.
Does your insurance company have any problem covering a car with such a high purchase price? No problem, they are happy to take bigger premiums to cover the risk.
Obviously you don't drive it the same way a test drivejournalist would do, but what are your thoughts on the the recent New York Times debacle? I would be shocked if Tesla would give a journalist a road trip plan with a significant chance of failure. Now a CNN guy tried the same trip with no problems, and I just saw on the front page of reddit that 6 owners are trying the same trip as well. I think empirical data is a good way to decide it rather than speculation.
You don't need a bunch of things like oil changes, and the fewer moving parts is super important. The yearly subscription is supposed to be around $600 (they haven't sold it to me yet). The battery has an 8 year warranty, so I don't need to worry in that time. The expected battery replacement cost is $12,000. So if after the warranty expires, it immediately dies, then I have spent $1500 per year, and divided by $4/gallon is 375 gallons, and if we multiply that by 30 mpg, we get 11,250 miles per year equivalent. So anything I drive past those 11,250 miles should be "free". (Unless I screwed up the math). Also, I didn't take into account electricity cost. If you take into account electricity costs, do you think it's still worth it considering that you had to pay 100k for it? If you mean versus those other luxury cars, I think it is too close to call, especially since I haven't done good cost analysis on buying and keeping up with them. I wouldn't have bought such an expensive car if it wasn't electric, so that's why I don't have the hard math on the difference.
If I really wanted to look at cost efficiency in an electric, I would analyze the Nissan Leaf vs a bare-bones Tesla Model S. The Leaf is still pricey (I think $40k), and it has much more limited range (75 miles), but if you wanted a commuter car and live within 25 miles of work, I think it would be great.
How many miles can it go if you drive it at its top speed? I'd say statistically it varies from about 5 to 30, depending on when the cop catches you and arrests you.
What is the top speed? I don't know but I bet they have a limiter in the 110-120 mph range.
What don't you like about it? Parking proximity detectors.
Cruise control proximity regulator.
Automatic volume control based on speed.
Originally didn't have driver profiles for seat adjustments. Now does, but doesn't include temperature settings, radio stations.
No "oh shit" handles for hanging stuff up.
Windshield wipers are good but not great.
[fixed] wiper algorithm used to suck (like should immediately start if I crank it up a notch, even from intermittent 1 to 2)
Things that can be fixed in software keep showing up, and it's really nice.
Edit: formatting
Amazing how they are updating the car over the 3g network. But it sounds like a nice target for a hacker too. Hopefully they connect over SSL, and if it were me I would make the low level updater only update with a binary that was digitally signed by Tesla.
Are the electronic systems in the car (radio, navigation) powered by the same battery that powers the engine or is there a separate battery for those? There's a separate 12V battery for those, but it gets charged by the rest of the system. They had a bug for a while where if you left it for a long time, under some situations it would drain that 12V battery. I went on a trip for a couple weeks and when I came back it was dead. The service people came to my place and fixed it.
As a muscle car enthusiast (75 trans am street/strp and 72 monte carlo strip only) my question pertains to use and comparisons to modern gas vehicles. It is a modern car, and completely feasible for daily use.
How feasible is this thing for a typical daily driver? What about maintenance, is there a steep learning curve for those of you in this club that are mechanically inclined? Price of repair parts? I think it is worse for the mechanically inclined because it is a battery, an electric motor, and a computer. There's probably less than usual for you to self repair. Fortunately, I believe the need should be lower than usual for the same reasons.
How would you rate it as a pussy mobile? Do the environmental chicks jump all over you now or what? Car buffs. The thing is beautiful and awesome and won like three car of the year awards.
Environmental types. While I don't check for hairy legs or Birkenstocks, having an all electric does get some pacific northwest appreciation.
Status aware. It's a high end and exotic luxury car. I didn't get it for status, but I don't mind. I've been asked about it by multiple lawyers.
The curious.
Is it unsafe to leave it in charging for a long time? How long do you usually have to charge it? How far can you go on a charge? They recommend you leave it charging, especially if you will be gone for a long time like on a trip. They have a computer on board to make decisions about whether to take the charge or not, and scientists wearing white smocks to determine the best charging algorithms. I usually charge it every night.
You have two options when charging, a normal charge that takes the battery to 90% only, or a range charge that tops it off. The normal charge is preferred because it is better for the battery life to avoid either a full charge or a complete empty.
On a normal charge, I am rated for I think 270 miles. I think in practice the way I drive that is more like 220-240 miles, including heating, an occasional tendency to "enjoy" the acceleration, etc.
How fast does driving 30 minutes on the highway at 70 mph drain the battery compared with driving 55 mph on the highway for the same period of time? I don't have a precise answer for you, but I know it has an impact, just like the impact driving 70 mph has draining your gas tank vs 55 mph for the same time. If you forced me to guess, I would say 5-15% worse range.
On the dash there is an energy consumption meter that tells you how much energy / mile you are using. In goes up and down all the time as you accelerate, slow down, climb hills, etc. It shows you how you are doing compared to a "rated range". I rarely achieve the rated range, and then it is if I can go a steady 55-60 mph on a flat stretch.
In practice, I never really worry about it and drive however I want with the temperature set to what makes me comfortable. With 270 miles of range I'm always home well within the limit driving like I normally would in traffic, even when I go to the ski resort.
How long did you have to wait on the waiting list? 2 years. But most of the wait was because the car wasn't out yet. My car was after about a dozen founders, and about 270 other signature owners.
How long does a charge take? 1h 15 min / 40 miles. They have a Charging Calculator Page
Does it have a 110v charging option? Yes. It comes with adapters for regular plugs, dryer plugs, and commercial charging stations. But regular plugs have such low amperage I think it takes ~infinity hours to charge on that.
Though you've touched on the way you drive your car, how you drove it on a trip, and when you charge it, how do you feel about the Telsa vs. Times? I feel like Times is quite off in the article but I don't have a Tesla. And as always, thanks for doing the AMA. I think there is something fishy about the Times situation, but I like proof a lot more than a quick conclusion. We're getting a lot of new examples of people doing the same route no problem, which makes Times look worse, but I would ask the next question that is was there something wrong with his specific casituation?
How much room does the car have? I'm 6'7" and just wondering if this is tall people friendly. My brother-in-law is 6'7" and in the passenger seat he said it was fine. He suspected without the sunroof it would be close. He commented in particular he was pleased that his knees didn't have to push against the dash. He didn't sit in the driver's seat when offered.
Do they cover if the battery dies? If not, how much to replace? For my battery, they have an 8 year, unlimited mile warranty.
I believe the estimated replacement cost is $12,000.
Wtf $12000 just to replace the battery? Sounds a little expensive. It's like 1000 laptop batteries. (not sure on actual number)
Big Macs or Whoppers? Paleo, so neither. But back in the day I didn't care, but marketing controlled my brain because I think I usually defaulted to Big Mac. When I ate fries I liked McD, unless I was in CA in which case In-n-out all the way, baby.
How is the air conditioning on it? does it blow pretty cold? Yes. I haven't needed it much so far but it does blow chilly air.
How far do you go between charges? Do you commute in it? How far? Do you charge at work? I usually go local places, so between 50 and 150 miles is normal for me. I haven't bothered charging away from home.
Why doesn't the car have 3g/4g instead of just 3g for that price? any reason? I don't know, but I would assume either at some point they had locked down hardware and a project delay would have been required to change, or that 3G was good enough for showing maps and listening to slacker.com internet radio so an upgrade would have raised the cost unnecessarily, or both.
Whats the fastest you've driven it and what was it like? I think I was passing one time and went 90-100 mph. It's fast, but the car was still super smooth so it didn't quite feel like it.
Many years ago I drove another car about 130 mph on a straight away with no other cars around and it was scary.
How did you afford it? I worked 20 years, got somewhat lucky with company stock, saved more than I spent, and went a bit out of my comfort zone for this purchase. My wife works too, and that is a huge impact.
I would love to be able to purchase one of these cars eventually. Would you buy it again if you could go back and redo the purchase process? I would buy it again.
Also, is the charger for one of these cars portable? It comes with a cable you can plug in with several adapters.
To both? Hard to pick one, but favorite 3 is probably never going to gas station, fabulous acceleration, and general luxury.
With the heater on full blast how much does it eat into the range? I don't actually know, sorry.
How much does it cost after you count all the gas you save? Tl;dr I'm guessing $1500/year in gas and $500/year in maintenance.
Assume 15k miles/year. Gas for that would be 15k / 30 mpg * 4 dollars/gallon = $2000 / year Electric is 15k / 270 range/charge * $10 per charge = $555 / year Savings is $1444 / year. Paid no sales tax because it is electric. ~$9000 Federal tax credit because it is electric. $7500 Don't know relative first year maintenance. I'll wing it and take $500. First year "savings": $18,444. (You could discount the sales to a percentage of your cheaper car, but I didn't).
Would you have no hesitation to charge that car to 100% for a 200 mile trip or would you prefer to charge to 90% and attempt to limit the reduction to the long life of the battery ? I would be confident in a 200 mile trip at 90%, but when I took my first drive to the ski resort I did a range charge to be sure I would make it.
I am not reluctant to charge to 100% for the occasional specific need. I hope that answered your question.
What is the plug-in situation like? Is it a special outlet? If not, I could see it being difficult going long distances and finding proper outlets to re-charge your car. It comes with a cable that has adapter plugs for a regular dryer outlet (the normal way), a totally normal outlet (incredibly slow), and the standard for commercial plug-ins.
Sorry if you've already answered it but do you only have it to get higher on the list for the roadster? Or do I have that backwards. I have it because it was the car I wanted. I think roadster owners got priority for the Model S.
Do you live in silicon valley? No.
Okay. Do you race people ever? Maybe on a spirited drive? Nice car btw. But I hear that if you try to roll race a BMW F10 M5 stock, you'd lose pretty bad. :) Not really, I haven't been on the road when it would be vaguely feasible. Watch this video of the Model S vs the BMW M5. It's closer than you might think.
I'd like the car to know which of our two keys goes with which profile. I hit my head on the roof because she likes the seat so high. I mentioned some other stuff below, but it's all pretty minor. pm me if you want more. Actually I think I might go with a cruise control speed limiter based on car proximity. Cruise control loses most of its value in variable speed traffic. That, and some of these other features (and parking proximity warning) were things I assumed would come with such a high end car, and while their absence doesn't make me sad, it was a slight surprise.
I wonder what the spread of owners is across the country. I also live in Washington (Redmond) and at my company there are 4 S's in the parking lot (about 500 employees). I see a ton around here, but when I talk to others around the country they seem pretty rare. It's popular in the pacific northwest. I don't know the actual numbers. Maybe ask them at Bellevue Square.
I think he's a not-very-dedicated novelty account. Half his comments are trolling, the other somewhat acceptable. I didn't intend my answers to be trolling. If I wasn't very specific, it's probably because I wasn't sure of the answer, or if the question was silly in the first place.
How do you feel knowing that your car runs on coal? Most of the local energy is hydro electric.
I'm sorry, but I'm going to plug myself in here because I'm at a loss: I've been trying to apply to Tesla Motors for an engineering position (graduating May of this year), but there are NEVER any job openings! Any advice?! Not really. But as I understand it, a roadster owner hacked the log files and created a utility that let you monitor a bunch of things about the car in an app or website or something and then later got hired by Tesla. He probably used up that route in the process.
Be amazing. Demonstrate passion for the space.
Last updated: 2013-02-26 18:03 UTC
This post was generated by a robot! Send all complaints to epsy.
submitted by tabledresser to tabled [link] [comments]

[Table] Reddit, IAMA statistician that's been dealing with credit for 12 years, I noticed that a lot of people have misconceptions about credit and credit score. AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2012-07-18
Link to submission (Has self-text)
Link to my post
Questions Answers
Why is the formula for calculating credit scores so secret? Considering the profound effects that number has on your life, people should at least know how it works. There are multiple reasons.
First the creators and banks are worried that you will game the system if you know the formula.
Next the more cynical answer is that the credit scoring industry generates hundreds of millions of dollars per year in revenue. By keeping them proprietary, the creators can keep charging and claiming that their score is the best.
Every man has his price and some people would be willing to pay a lot of money for such knowledge. How much of a bribe would it take to get detailed information about your scoring models? I haven't created in a decade. Even then it would be hundreds of lines of code.
It seems to me like there are two camps: those who don't understand credit/credit scores at all and dig holes for themselves they can't get out of, and those who obsess about their credit score when it probably doesn't matter. The former is probably pretty self-explanatory. About the second: am I wrong in thinking that your score probably doesn't matter much unless you're trying to get a car loan or a mortgage? Following up on that: Are there things people should consider doing that they're currently too scared to do because it might hurt their score, like opening up new credit cards for points/rewards and then closing them as soon as they can cash in their rewards? That activity would hurt your score, but if you don't need a high score and you act responsibly about those cards, that's basically free money. Right? What are some other tips/tricks? I think your score doesn't matter much if it is above 700 or generally considered good depending on the model and scale. For everyone else it has ramifications from auto insurance rates to just get by in life. There are many best practices to building credit that people don't do that they should. #1 is getting a no annual fee credit card. These things are free and they build credit. In many cases, they will even pay you to use them (cash back or miles). I suggest having 3-5 credit cards. Apply for them over 2-4 years. Never carry a balance. Never buy what you can't afford. If you do just this, your credit score will be in the good category in 2-3 years.
How do you model the "winner's curse" problem where you know you're competing with other credit suppliers, and you only win business when you've offered better terms than your rivals saw fit to? Adverse selection and positive selection are very real parts of the business. Many issuers will test the same product with different pricing to measure the effects rates and fees.
Along the same lines, if there was some hit on someone's credit that you knew didn't affect the payment probability but that did affect the customer's ability to get credit elsewhere, would you use it to charge him a higher rate? Ten year ago when I was at an issuer, we wouldn't do this. Few banks are predatory when it comes to pricing. Credit scores account for most of the risk and you would have to prove that the data is non-discriminating to regulators for the rest. It's just not worth it.
Do you prefer customers who generate lots of late fees but ultimately pay over ones who pay promptly? Fees generate lots of revenues. This question is a matter of strategy for the bank. Amex for example wants people who pay on time with no risk. Other banks may serve the middle market that take the fees into account when going after the market. You usually pick one or the other.
Do you pay any attention to people who try to game the cards, like when I only use my Chase Freedom card for whatever's in the 5% categories this quarter, or when people used to buy dollar coins from the Mint? For most issuers, this is a known cost of business. Some customers simply cost banks money either in the form of default or usage pattern.
What do you feel is the primary misconception about credit scores that you'd like to clear up? The biggest misconception is that there is only one credit score. I see this one all over the Internet and Reddit.
Each consumer has dozens of credit scores. You will never be able to see them all since many are not sold to consumers. This is further exacerbated by the fact that there are three bureaus which means that each score has three variants.
It is up to the bank to decide which credit score they want to use based on the price and how well the score predicts risk. Banks often don't want to talk about which score they use because it is a key determine of their losses and therefore a very competitive piece of information.
FICO tries to position themselves as the only score that matters. But it is really up to the banks. With that said, FICO is the most common score in mortgages cause Freddie and Fannie required a common risk score. FICO was the defacto score due to circumstances 20 years ago. But in every other industry, it is totally up to the bank to decided which score is best for them. Vantage is the next largest competitor. Here are their adoption numbers as validation: Link to vantagescore.com
What are the most common misconceptions about the credit industry? I think the second most common is that pulling your own credit score will hurt your score. The first was answered above.
There are two types of credit inquiries (aka credit pulls). A soft inquiry is what happens when you check your own credit. This is also what happens when you are pre-screened without your knowledge. These types of inquiries do not hurt your credit score.
The second type of credit inquiry is a hard inquiry. These are credit checks when you apply for credit.
Because both are called inquiries, many consumers believe that any inquiry will hurt their score. This is simply not true.
I'm 18 about to turn 19 and I live in my parents, next month I start school (local community college/ freshman) I have a part time job and average about 150-250$ a week. The only payments I have are my iphone which is 90/month and my insurance which is 100/month. What advice would you give to me regarding building a maintaining a GOOD credit score? Find a student credit card (they have lower requirements). Use it for gas or groceries. Never carry a balance. Never use more than 30% of the credit limit. In a year, your score will be higher. Get one more card (more cards will open up), keep the old one open. Follow the same process. Stop at 3 or 4 cards. In 3 years, your score will be in the 700s, you won't have paid a penny in interest.
Can you recommend any student credit cards? I think most of the big issuers have decent products. Check out Capital One Journey. In full disclosure we have a business relationship with them but they seem to be doing the right things in my eye.
I have a guy that I work with who had his mother open up credit for him when he was very very young, like prepubesent, or so he says. He finally came to age where is figured out how money works and ended up getting credit cards with 10K plus limits. He ended up raping his credit and joined the Air Force because of that. Is doing that sort of thing, getting credit as a kid, feasable? Or was he just lieing? Also, when I got my first credit card years ago, I pulled my FICO and it was like 700. That was extremely misleading to me. They should start credit in the middle, like 500/450, and go up and down from there... Also, I had perfect credit for 3 years, and bought a new car with 0.9% financing and they said they fought tooth and nail for me to get it. Should I hug them? Or did they lie? Twenty years ago it was all about score. Today most of the issuers use score and a host of custom data points and models. For example they might give you an adjustment if you have a mortgage in a declining real estate market. Scores matter but they are just a part of the decisioning process for any sophisticated credit card company. Generally credit starts at 600 for people with no history. It goes up or down based on what you do from there.
I'm a Credit Karma user and I love your service...it's helped me maintain a pretty high credit score over the past couple of years and given me a better understanding of how things like credit card utilization work. So here's a question for you...my credit is in the high 700's (775). Is there any real benefit to me to have a score much higher than that? If I'm say, shopping for a mortgage will the rate I'm offered differ significantly if my credit score is 800 instead of 775? Only bragging rights. Otherwise there is no real benefit.
What's the best way to check my credit score? The best way to check your credit report is AnnualCreditReport.com. Self promoting here but I think the best way to check your credit score is CreditKarma.com.
Just checked my score on creditkarma and I'm at 788. What I found odd was my credit card utilization score. I have $30,000 in limits. $90 in debts (actually paid that off today). Utilization of 0% and a grade of C. Why such the low grade? Simply because I have high limits and don't ever carry a balance? The grade we create by correlation. The rounding brings you to zero utilization which correlates with lower credit scores. If your score is 788, you have nothing to worry about. We have been wanting to address this corner case for a while.
When should you check your credit score? I know it's free once a year, but when is the best time to pull it? I've never checked me credit score, and I know it's not very good but I'm curious to see how bad it actually is. My fear is that if I pull it now, I might need it again sometime before that year is up. Should I wait until I know I need it, or is ok to check it now out of curiosity? If you check your report once per quarter, you should be fine. Check out CreditKarma if you are interested in check your score for free. (Shameless Plug)
Do people really give you their birthday and SSN that easily? When we first launched, no. But today we have been around for 5 years and have over 7 million users. That helps us get over the credibility hump.
Is it actually free or are you going to slam me with hidden fees when I don't expect it? Best answered by others.
I'm 23 years old, make 35K a year, and have never been able to open up a line of credit; I've been denied by USAA, Chase, even Target. Is secured credit my only option? Any suggestions as to where I would have a good chance at opening up an unsecured line of credit? If you have no serious derogs you might try Capital One. They cater to people with limited credit. If you credit is very bad due to delinquencies or charge off then yes secured is your best option.
Please note there is a difference between no credit and bad credit.
I have no credit whatsoever, would I still have a shot with Capital One? No credit yes. Bad credit maybe. It is important to note that there are differences between the two.
A request for your Website's Credit Simulator: Simulate the result of closing a card that is not the oldest, letting the user input the card's age and the amount of credit that will be removed. We have a number of simulator initiatives. They can be painful. Please bear with us.
A specific question related to the above: A year ago I obtained a new card with a very small ($1,000, compared to up to $35,000 on my other cards, the oldest from the mid-1990s) line without thinking about how this would affect the average age of my cards. Should I close the card, which I don't need, even if this means that my available credit would decrease slightly? As for closing your account, don't do it if there is no annual fee. Low limits don't hurt your score but short histories do. Just cut up the card and check on it once per quarter.
Is there any harm to having too many cards or too much available credit? I have a few cards with $1-2k limits that I'll never use again, but I haven't closed them because they're older than my current cash back cards. Rarely. If you have 20+ cards, it might be too many. But here is a chart you might find interesting. Link to www.creditkarma.com
Could you guys add to that infographic the population ratio between each of the five sectors to give a general idea of how how many people succeed in getting those higher scores? We have this image on our site. Link to ne.edgecastcdn.net
Thanks, is that chart derived from the same sample as the other one or is it a different group? Same criteria different time periods.
If you have a negative hit on your credit score by a collector how hard is it to remove it? The issue here isn't paying the fee but the detrimental effect on your credit score. If the collections inquiry is factual, it is fairly difficult to remove. Many people don't know that you can negotiate with the collections company. Google "pay for deletion" agreement. In that approach, the collections company agrees to remove the inquiry in exchange for you paying the debt. You can use it as leverage but it is not standard so get it in writing before you pay.
Thank you so damn much for this! My pleasure. Credit and Street Fighter are two of the things I'm good at.
How likely are they to agree to this? Sometimes I wonder if the goal of the credit agency is to collect money or to actually mess with people. Credit agencies don't collect money. They just report. Collections companies are different.
Collections companies buy you debt for pennies on the dollar. They want to collect something but they don't expect all of it. As a matter of fact the only expect a percent of their percent so just negotiate with them. They will gladly take something over nothing.
What is a perfect credit score and is it possible to hit it? My dad has had a credit card since they came out, more or less, and has never missed a payment. It depends on the model and the range. It is very difficult to have a perfect FICO score (850). In fact, I don't recall ever seeing one.
With Vantage it is much easier, I have seen many (maybe ~5% of users) have perfect Vantage scores (990).
Does having a credit card and not using it ever negatively impact your credit rating? No, the only risk you run is the issuer closing your account. I suggest charging a tank of gas once per month to avoid the pitfall.
I'm more interested in how you got in your line of work. How did you get to work for a credit card industry as a statistician? I had a math and econ degree. I was good with numbers and just ended up at a credit card company by happenstance. There is no formal training needed. Analysts are always in high demand. Learn SQL and SAS if you want a leg up on everyone.
How much experience did you have with statistical analysis, SAS, and SQL before you got your first job in the field? SAS - None SQL - None Stat - I have several grad level econometrics and stats classed but no real world experience.
I'm signed up with you and creditsesame. Right now your estimates differ by over 100 points. How do your methods differ, and what do you think of your competition? They use a different bureau so that is going to be a factor. Next they use a different model which will be another factor. More than anything the score matters. For example, my TransRisk score is 781 but my Vantage score is 990. Keep in mind both are the same credit bureau but this is a key illustration of why range and context matters.
We see our competitors as validation of the model. May the best product win.
I'm recently engaged and have a 700+ credit score. My fiancée made some bad decisions in her younger years and has a really bad score. She had debt collectors in the past and has been declined for a credit card and pretty much only uses cash now. She's debt free now an plans on staying that way. Any future pitflalls I should be aware of and what can I do to help rebuild her score? Have her get a secure credit card. Its like a pre-paid but it will start to build her credit. In 3-4 years her credit could be fine and it won't cost you anything to rebuild with the exception of the opportunity cost of the deposit.
What's your advice for somebody without a credit history? For examples, in case I move to the US for professional reasons (and have good credit back "home"). Just start like someone new to credit. Link to www.reddit.com
What probability distribution do credit scores have? They are logarithmic. It becomes increasingly more difficult to get from 750 to 800 than 550 to 600.
Scores are for consumer benefits. The models we build give us a probability. I suspect the industry transformed that probability into a score as no to offend but in the end, the banks translate the scores back in to a default risk. Very silly if you think about it.
Why get a credit card? I am an adult male in my mid thirties and have never had one. I have taken out three loans in my life and paid them off successfully. I have never been in real trouble with landlords or utilities. For the most part, my driving record should be clean as well. Do I still need a credit card, or can I continue to get by without one? Credit cards are virtually free and they are the backbone to your credit. Sure you can get by without credit but that is a more difficult path IMHO.
I'm interested in becoming a statistician. I was wondering if you could tell me how your got started? What was your degree? Is the pay respectable for the amount of education required? Where do statisticians get hired? How is the job security/prospects? I love math and statistics! Answers are peppered throughout the AMA. The career is great if you like data and understand data well.
Is it ever to late to start building credit with a card? No, credit scores can not take the age of a consumer into account as it would be discriminatory. As such, it is never too late or too early to build credit.
How many hard inquiries can you have on your record before it becomes detrimental? I currently only have 1 card opened, and 3 inquiries that have been there for less than 1 year. Credit Score is above 700. It varies by model and your current score. Most things in the credit score world aren't linear. I know that is a shitty answer but we performs lots of transformations and adjustments based on the user. My generalized answer is avoid more than 2 inquiries in any 6 month period unless you are shopping for a home or auto.
It's my understanding that if you have several 'hard' inquires of the same type (mortgage or auto for example) in a limited timeframe(14 days?) that they all count as the 'same' hard inquiry. Is that correct? That is correct. All will show on your report but for the score it will only count as one. The timeframe is dependent on the model.
What is your educational background and certifications. Are you an actuary? I have a degree in economics and mathematics. Mostly you need to know econometric or statistics. I started my career in a credit card risk modeling group and just learned most of the industry specific skills on the job.
What statistical tests and procedures do you use the most often? Expect lots of logistical regression. You will be looking at predictors of default (0,1)
In addition, CHAID and Clustering can often be used.
Many times, Excel and pivot tables are great precursors to modeling data.
I got a credit card when I was 18 with the intention of building up a good credit score so that when I actually needed it, I'd have no issue getting a loan or car or anything of the such. I'm currently 22. Sadly, last Christmas I went out and stupidly purchased more than I could afford. It was the first time I've ever done this. Since then, the balance has been riding on almost maxed, but never over, and never late payments (As I don't have much in terms of money, I can't exactly pay more than minimum each month. I understand this is stupid and I won't pay it off for a long time, but I don't intend on continuing this situation past more than a month from now. But I'm curious how this is affecting my credit, having a balance on it for the last 6 months and not paying it off completely. Is it negatively affecting me since it hasn't been paid off, or is it fine since I haven't went over my balance + I've made the minimum payment? Duration is less a factor as more credit scores are snap shots rather than time series. Try to get it under control ASAP. As long as you don't miss payments the impact should be minimal.
Why can't a creditor estimate the amount of credit to be offered if provided with a credit score? Most credit limits are based on DTI (debt to income) and score. Without the income and the other debts, limits are a shot in the dark. Keep in mind income is not on your credit report.
Still doesn't make sense. I will get a credit limit anyway. How do they decide? If I apply for a credit card and don't like the conditions and the limits and close it immediately, why is my score still affected... Why can't I shop around like in a real market economy? Shopping is fine for home loans and autos. But credit cards generally have rates displayed ahead of time.
When you apply for too many products in a short period of time (specifically credit cards) you are a higher risk person. Think about it this way: "We have a guy that is applying for everything under the sun. We should be very careful with him" that's how the scores work and the statistics back it up.
A friend of mine has been considering bk, chapter 7. If he goes through with it and is smart afterwards, how long could it be before he establishes reputable credit? Usually take 4-7 years. It depends on the product. Cap One may grant a secure card or small line instantly. But Fannie and Freddie won't back a mortgage for several years.
Thanks so much for this IAMA! I just had a quick question. I'm 21 and have never had a credit card nor a loan. I have a lot of money saved up in my bank account so I know I can pay off pretty much any type of card, I just never have gotten around to getting one. What type of credit card do you think would be best for me, and how do you think I can build up a good credit score in as little time as possible? Get a no annual fee card. Capital One really serves this category so look there. Your bank might have a good product as well especially if you have large deposits.
Sounds great to me! also, lets say I wanted to get into the field. I'm currently studying accounting and economics at university. How much of a demand is there for this field, and is the pay good? Yes and Yes. The US is moving to a service industry and these are prime examples.
I rec'd a settlement offer for a loan I had on a car. I was told to do it by some, not to do it by others. If I pay them the total settlement, what will that look like on my credit? To rebuild credit, get a secure credit card. They will re-establish a history for you. Approval is almost assured since it is secured.
Very interesting information. I never checked my FICO score (& didn't know other scores even existed) yet & I'm curious what it might be. Can you at least say the lowest & highest possible values? Does it run 0--1000 or some other range? Does it have gimmicks like getting 200 points for simply existing/signing your name like on the SATs? It depends on the score as they have different ranges. The most common range is 350-850 which is the FICO range but others exist. As such you need to look at your relative score in the range rather than the absolute value.
I'm about to enter college, so is it a good idea to get a credit card and make all purchases on it to build credit? And if I made my payments on time, will that guarantee a good score? Provided I spend conservatively... I focused mostly on econometric in college. Data modelers have always in demand even through the recession.
Also, tell me more about your statistical background. Is it applied or mathematical statistics? As for credit cards and building credit, I have a post somewhere. Maybe I'll edit the post to include the tip.
How much do federal student loans affect one's credit score? It is just like any other loan. The impact depends on the breadth of your credit history. If it is your only loan then it makes up a a majority of your credit. Conversely, if you have 10 open accounts, the impact is greatly diminished.
I have 2 cards that are closed but am still paying them off. And 3 open cards that gave balances as well. My question is, is it better fir me to pay off the closed accounts first? Or the open accounts? I'm gonna do the snowball effect ($500 to one card, and slightly above min on the others). TIA. From a credit score optimizing perspective, it is probably best pay down the open account first since it create "open to buy" or said another way it lowers your credit card utilization. The closed loans don't have available limit so it doesn't help your score. Obviously the other main consideration is the APR on the respective cards.
So I have a secured credit card now because I kept getting declined when applying for credit cards. Does it hurt your credit score by keeping on trying to get a credit card and getting declined? Yes. Don't apply for cards more than once per 6 months. Ideally once per year. You want to apply for cards in your credit range.
I was wondering, I know any bad mark disappears after 7 years, but if I've made s late payment or two, how long does that negatively affect my score? The entire 7 years? The effects generally diminish over time, it is not binary. I suggest get the account current and making sure you pay on time going forward. The impact to you score should be gone in 1-2 years depending on your score and other accounts statuses.
What software do you build your models with? R? R, SPSS, and SAS are probably the most common stats software. The credit card industry tends to use SAS so if you can build a competence in that you will be like the Java developer in Silicon Valley.
Cancelling a credit card: bad for your credit or not? Not missing payments, good history, just wanna cancel and have one less card in your life type of thing. (Assuming you have others) Usually bad. Credit is all about the predictors. If you have a card and it stays open for a long time, it suggests to other lenders that you are very responsible.
So I suggest, cutting up the card. Keep it open and check that no one uses it online every quarter.
I am a statistics undergrad, particularly interested in econometrics, which is seemingly tangentially related to what do you. What advice could you give to a young statistician on what to focus on, what are the new things that will be more relevant in the years to come? "Big Data" is all the rage in Silicon Valley. That means good data miners are going to be in high demand. Learn SQL, SAS, and a scripting language if you want job security with lots of upside.
I missed your open house today. When will you have another event? It was fun. Probably too much fun. I am sure there will be other launch parties in our future.
Wait, always pay it off in full? I was always told to leave a balance on it so that they know you're able to handle that. Have I been lied to? You have.
Last updated: 2012-07-20 12:09 UTC | Next update: 2012-07-20 13:09 UTC
This post was generated by a robot! Send all complaints to epsy.
submitted by tabledresser to tabled [link] [comments]

Options Binary - YouTube Great News! Reliable Binary Options Broker that Accepts EU Canada, and UK! Binary Options Strategy 2020  How To Make $200 to $1000 (Make Money Online) List of the 8 best Binary Options Brokers 2019 - Trading Review The best 9 Binary Options Brokers 2019 - Honest Trading Review for Traders

Binary Options Scams are probably the hottest topic right now in the financial market owing to the vast of new cases that come up every single day.There have been instances of people losing millions of their saving on such scams. At the same time, Morgan Financial Recovery has helped many victims recover funds from such binary options scams on a regular basis. Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some Binary options are a bet, not a trade, not an investment. Even with an honest broker you will lose all money over the long term: if you lose your stake is gone but if you win you only win back 80% of your stake, so a winning bet means you lose 20%... USA REGULATION NOTICE: Please note if you are from the USA: some binary options companies are not regulated within the United States. These companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange North American Derivatives Exchange™ (Nadex) is the leading exchange in the U.S offering binary options and spreads. Regulated by the CFTC and based in Chicago, with member funds held in segregated accounts in major US banks, Nadex offers secure and innovative ways to participate in the markets.

[index] [3555] [2595] [9679] [3365] [14412] [15370] [780] [15083] [15298] [7294]

Options Binary - YouTube

Personally, I recommend using a regulated Binary Options Broker. In my review, you will see regulated and unregulated companies. An unregulated broker can be good but you should trade carefully. Best market conditions For Binary Options Trading Free $1,000 Demo Account The platform is suitable for both professionals and beginners Best in the industry tutorial system Availability on any ... Rating is available when the video has been rented. ... • Full legal documentation of company registration ... Binary Options Brokers Top 5 Regulated with CySec License Europe Regulation Review ... Regulated Binary Options Brokers In Usa Cara Copy Trade Di Binary.Com Trading Binary Company List Of Binary Trading Companies Binary Options Brokers Usa Friendly Binary Trading Adalah Binary.Com ... In this video I will show you how to choose the best Binary Options Broker in 2019. I created a full list of the best companies. On my website you can read through the reviews for getting more ...