We at Profit this week are trying to figure out if “the stock market is not an indicator of the economy” merchandise would be something our readers would line up to buy like they do copies of our magazine. There are, of course, other things going on too. Bad math from Farrukh Saleem, stockbrokers, fashion choices, and memes feature this week. Ariba Shahid brings you all this and more in this week’s social media roundup.
- Any takers for merch?
Ok all these “I am delighted to announce I have joined so and so company” posts on LinkedIn with welcome packages of Mug, Shirt and thermos, are giving me anxiety. Why is this a thing?
— Habibullah Khan (@Huk06) September 22, 2021
Truth be told, Habib doesn’t have anxiety. He has FOMO just like the rest of us who love getting free gifts. However, we wonder if the HR asks employees to post these because our linkedin has been flooded with them. Speaking of which, I might try to convince Profit to release “the stock market is not an indicator of the economy” merchandise. Any takers? We promise the merch will be stylish and also act as a crucial social reminder to all of your friends and family that the stock market is NOT an indicator of the economy.
- Oh congratula- wait a second
“Multigenerational member” is an all time nepotism flex https://t.co/4U138yj4HM
— litquidity (@litcapital) September 22, 2021
Imagine working at JP Morgan. Congratulations. Imagine getting there because of your dad. We take the congratulations back.
- Stick to the ugly graphs
Almost all of these countries produce oil not import it. 🤦♂️Seems like many people on Twitter have done a PhD in Stupidity. https://t.co/f4yHemhCYc
— SocialPariah (@Non_graata) September 22, 2021
Why don’t people understand that cheaper fuel isn’t the flex you think it is. Also why in your right mind would you compare yourself to oil producing countries that do not import fuel. Farrukh Saleem honestly needs to stick to his obnoxiously ugly yellow graphs. At least those graphs were gross enough for people to look at them and ignore tha atrocious opinions he holds.
- Memes export
Hey @TurnerNovak, I think we should talk. DMs open.
— Farooq Tirmizi (@FarooqTirmizi) September 22, 2021
If Pakistanis could export memes we’d probably have all our economic woes sorted out. Also we didn’t think our managing editor was a memer like us. For all that Tirmizi sb has taught us, we would like to think that an enrichment in meme knowledge has been our way of saying thank you.
- Yes, you need your CNIC
A simple tool of financial inclusion (stock mkt) is unaccessible for most of the masses unless you are willing to go through a lot of hassle to make it happen.
Contrary to whatever being said on social media or in papers, account opening process remains as complex as ever. https://t.co/fJ1vfkO9ki
— Rasheed Narejo (@narejo) September 22, 2021
This week we have a short explainer on why you need a broker and how to open an account with one. While it sounds simple in the article, the actual process may not be as easy considering the fact that everything is insanely difficult for no reason. How difficult is it? Well, you’ll need copies of your CNIC so you can imagine.
- Quite obvious
do explain how. i have been wondering exact same with the mushrooming of labs on Shaheed e Millat over last year. 12 labs in 500 meters radius. 11 in last year alone. this isn’t your traditional major hospitals cluster, right? pic.twitter.com/TuscL06PCA
— Adil Mansoorᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠ (@adilmansoor91) September 19, 2021
Why do you need so many labs in the same commercial vicinity? Well, do we really need to spell it out? Just by the way, sheep blood isn’t expensive either.
- Another financial scandal – kind of
It’s amazing how prevalent misinformation is when it comes to basic economics. CBs by nature provide liquidity in the market. Make sense of it when looking at FX reserves near ATH. Dealer flows being extrapolated her for political messaging. Ridiculous https://t.co/kciDZhmv5o
— Ali Rashid Siddiqui (@alirashidsiddiq) September 18, 2021
Leave it to Pakistanis to scandalize an “injection” even when the reserves don’t really show you an injection. Also why is everything the SBP does made into something political?
- A man of mystery
What is he hiding? And who is he hiding it from? pic.twitter.com/dUBckEJWDU
— Saihan “adjusted for food inflation” Mohammad (@saihan47) September 20, 2021
A man of mystery with a locked account and no tweets. Sometimes we wonder what he has to say. Oh well, maybe we’ll never know. Oh to be a fly on that twitter wall …
- Read the fine print
2/ There are two ways in which startups raise equity investment: 1. Priced Round, and 2. SAFE (Simple Agreement for Future Equity).
Priced Round is where an investor values your company, injects capital into the company, and gets a fixed % shareholding.
— Mubariz Siddiqui (@MubarizSiddiqui) September 23, 2021
Valuations and valuation caps are two different things. A recent example is what happened at TAG as well. But hey, we dont want to sound pessimistic here. Regardless if you want to learn about the startup world, you should defo follow Mubariz
- Told you so
Finally. Gov and SBP has realised. Strange things should not happen. New SBP regulations issued today will curtail car demand and save dollars. Likely duties/taxes on cars will increase prices. Better to tax rich and support poor and middle class @StateBank_Pak https://t.co/h1G9KeJuhs
— Mohammed Sohail (@sohailkarachi) September 23, 2021
We’ve said it before and we’re saying it again. The Roshan Digital Apni Car scheme was a bad idea. This is our “we told you so” moment because we did tell you so. Pumping up demand for cars is not a great idea to begin with because it pushes consumption led growth. Also subsidizing cars for expats makes little to no sense either. Finally some signs of sense kicking back in