More on Technology

Gareth Willey
2 years ago
I've had these five apps on my phone for a long time.
TOP APPS
Who survives spring cleaning?
Relax. Notion is off-limits. This topic is popular.
(I wrote about it 2 years ago, before everyone else did.) So).
These apps are probably new to you. I hope you find a new phone app after reading this.
Outdooractive
ViewRanger is Google Maps for outdoor enthusiasts.
This app has been so important to me as a freedom-loving long-distance walker and hiker.
This app shows nearby trails and right-of-ways on top of an Open Street Map.
Helpful detail and data. Any route's distance,
You can download and follow tons of routes planned by app users.
This has helped me find new routes and places a fellow explorer has tried.
Free with non-intrusive ads. Years passed before I subscribed. Pro costs £2.23/month.
This app is for outdoor lovers.
Google Files
New phones come with bloatware. These rushed apps are frustrating.
We must replace these apps. 2017 was Google's year.
Files is a file manager. It's quick, innovative, and clean. They've given people what they want.
It's easy to organize files, clear space, and clear cache.
I recommend Gallery by Google as a gallery app alternative. It's quick and easy.
Trainline
App for trains, buses, and coaches.
I've used this app for years. It did the basics well when I first used it.
Since then, it's improved. It's constantly adding features to make traveling easier and less stressful.
Split-ticketing helps me save hundreds a year on train fares. This app is only available in the UK and Europe.
This service doesn't link to a third-party site. Their app handles everything.
Not all train and coach companies use this app. All the big names are there, though.
Here's more on the app.
Battlefield: Mobile
Play Store has 478,000 games. Few can turn my phone into a console.
Call of Duty Mobile and Asphalt 8/9 are examples.
Asphalt's loot boxes and ads make it unplayable. Call of Duty opens with a few ads. Close them to play without hassle.
This game uses all your phone's features to provide a high-quality, seamless experience. If my internet connection is good, I never experience lag or glitches.
The gameplay is energizing and intense, just like on consoles. Sometimes I'm too involved. I've thrown my phone in anger. I'm totally absorbed.
Customizability is my favorite. Since phones have limited screen space, we should only have the buttons we need, placed conveniently.
Size, opacity, and position are modifiable. Adjust audio, graphics, and textures. It's customizable.
This game has been on my phone for three years. It began well and has gotten better. When I think the creators can't do more, they do.
If you play, read my tips for winning a Battle Royale.
Lightroom
As a photographer, I believe your best camera is on you. The phone.
2017 was a big year for this app. I've tried many photo-editing apps since then. This always wins.
The app is dull. I've never seen better photo editing on a phone.
Adjusting settings and sliders doesn't damage or compress photos. It's detailed.
This is important for phone photos, which are lower quality than professional ones.
Some tools are behind a £4.49/month paywall. Adobe must charge a subscription fee instead of selling licenses. (I'm still bitter about Creative Cloud's price)
Snapseed is my pick. Lightroom is where I do basic editing before moving to Snapseed. Snapseed review:
These apps are great. They cover basic and complex editing needs while traveling.
Final Reflections
I hope you downloaded one of these. Share your favorite apps. These apps are scarce.

Mark Schaefer
2 years ago
20 Fun Uses for ChatGPT
Our RISE community is stoked on ChatGPT. ChatGPT has countless uses.
Early on. Companies are figuring out the legal and ethical implications of AI's content revolution. Using AI for everyday tasks is cool.
So I challenged RISE friends... Let's have fun and share non-obvious uses.
Onward!
1. Tweet
Jim MacLeod requested a design-themed Twitter thread from ChatGPT.
2. Novelize
Giuseppe Fratoni writes novels.
"This is amazing!" Impotent. I asked about writing, mystery novels, and jazz.
"Develop a mystery novel plot in which a disillusioned homicide detective hunts a serial killer who targets jazz musicians who play Autumn Leaves."
"I have:
Detective James Thompson is a seasoned veteran of the Homicide department, but lately he’s been feeling burnt out and disillusioned. His latest case, the murder of a young jazz pianist who was found brutally killed in his home, only serves to deepen his sense of despair … (much more provided)
3. Question-and-answer sessions
Bliss recommends:
You have a guest speaker and want to ask audience questions.
Pre-generate questions with ChatGPT. "And here's a question from our AI?"
The conference is about Western water scarcity. Water management expert. My AI question was...
Which desalination-related questions should I ask an expert?
ChatGPT said...
How is desalination currently being used around the world, and in what types of locations is it most effective?
What are the potential advantages and disadvantages of using desalination to provide fresh water?
What are some of the key challenges and limitations of desalination technology, and how are they being addressed?
4. Game-making
Richard's a board game expert. He suggests using ChatGPT to plan games. Note: Some people have started getting help solving crossword puzzle clues.
5. Matchmaking
Tanya Thompson thinks it helps dating. ChatGPT:
Here are some flirty first-message ideas for dating apps:
I noticed you from afar. I had to say hi and see if we clicked.
Your profile picture is gorgeous. I'm obsessed with your [Feature] and want to know you better.
I don't usually message first, but I had to. You're [Attractive Quality] and I can't wait to talk.”
Hello. Your profile intimidates me. I'm starstruck by your [Attractiveness]. (Many instances)
5. Solitude/anxiety
ChatGPT excels at one-on-one conversations.
PepperBrooks: "I'm sad and lonely."
ChatGPT: I’m sorry to hear that you’re feeling sad and lonely. It’s natural to feel down sometimes, but it’s important to remember that you’re not alone. There are many people who care about you and want to help you. It can be helpful to talk to someone about your feelings, whether it’s a close friend, family member, or mental health professional.
Sometimes, just expressing your thoughts and emotions to someone else can help to alleviate your sadness and loneliness. It’s also important to take care of yourself and do things that make you happy, such as spending time with loved ones, pursuing a hobby, or exercising. These things can help to improve your mood and make you feel more connected to others. Remember that you are strong and capable, and that you can get through this difficult time.
Daniel Nestle asked ChatGPT to generate journal prompts to help him deal with anxiety.
Write down the things that are causing you anxiety at the moment.
Describe a situation in which you felt anxious and how you coped with it.
Reflect on how your thoughts and beliefs contribute to your anxiety.
Write a letter to your anxiety, expressing your feelings and concerns
Imagine yourself in a calm and peaceful place, and describe it in detail.
(many more items followed)
6. Names
Continued Daniel:
Also, naming ideas.
Me: Name this drink. Japanese gin, unsweetened tonic, lime, Szechuan pepper, grapefruit.
ChatGPT: How about “Sakura Sunrise?” The name incorporates the Japanese gin and the citrus flavors of grapefruit and lime, and the word “sunrise” suggests a fresh and invigorating start to the day. Alternatively, you could go with something like “Peppered Grapefruit Gin Fizz” to emphasize the unique flavor combination of Szechuan pepper and grapefruit.
7. Translation on the go
Monks recommends: ChatGPT is a perfect mobile translation tool. Say you need help in Italy.
ME: Translate to Italian
Where is the nearest gas station?
ChatGPT: “La mia auto sta per esaurire il carburante, mi puoi dire dove si trova la stazione di servizio più vicina?”
8. Fitness
Monks added:
ME: In 3 months, I want to run 5km. Plan out how I can do this.
ChatGPT: Here's a 3-month plan to run 5km.
Start by walking for 15–20 minutes each day to build up your endurance and get your body used to regular exercise.
After a week of walking, begin incorporating short jogs into your routine. Start by jogging for 1–2 minutes at a time, with walking breaks in between. Gradually increase the length of your jogs and reduce the amount of time you spend walking.
Once you can jog for 10 minutes without stopping, start increasing the distance of your runs. Aim to run 1km without stopping and then gradually increase the distance over time.
In addition to your regular runs, incorporate strength training and stretching into your routine to improve your overall fitness and reduce the risk of injury.
(more details continued on)
9. Integrations and coding
10. Teacher lesson plans
Spencer Crandall saved time.
This morning, I wondered who has the hardest job. Teachers.
Many students, little time. ChatGPT could handle lesson planning. I tried it and got this.
Lesson Title: The History and Impact of Artificial Intelligence
Students will understand the history and development of AI and the potential positive and negative impacts on society.
AI timeline AI technologies and applications
Overview:
Introduce the topic of artificial intelligence, and explain that it refers to the development of computer systems and algorithms that can simulate human intelligence and behavior.
Show the timeline of significant events in the history of AI, and discuss the key milestones and developments in the field.
Show examples of AI technologies and applications, and explain how they are used in various industries and fields.
Discuss the potential positive and negative impacts of AI on society, including its potential to improve productivity, efficiency, and safety, as well as its potential to create new challenges and concerns, such as job displacement and ethical issues.
(many more details followed)
11. Find podcast guests.
Joeri Billast suggested:
Who should be on my Web3 podcast?
ChatGPT: Web3 marketing experts, influencers, and thought leaders make great podcast guests. These include Web3 marketers, content creators, business owners, entrepreneurs, and technologists. You could invite Web3 startups and organizations to your podcast.
Please give examples.
ChatGPT: Ideal Web3 marketing podcast guests include:
Tim Berner-Lee, inventor of the World Wide Web
Chris Dixon, general partner at Andreessen Horowitz
Vitalik Buterin, founder of Ethereum
Joe Lubin, founder of ConsenSys
Susan Fowler, author of Whistleblower
(many other suggestions)
12. Comments and reviews on social media
Lisa Monk thinks ChatGPT can help retail staff with social media.
She asked ChatGPT to "review this restaurant"
POSITIVE CUSTOMER REVIEW: I absolutely love this place. We eat out a lot however this place has topped it all. Perfect meals, amazing staff and the timing for it all was great! Special thanks to Sophie B (you rock) From your guests all the way from the Gold Coast, THANK YOU
ChatGPT REPLY: Thank you so much for your kind words and for taking the time to write a review. We are delighted to hear that you had such a great experience at our restaurant. We are thrilled that you enjoyed your meal and the service provided by Sophie. It’s always a pleasure to serve guests visiting from the Gold Coast and we are grateful for your support. We look forward to welcoming you back again soon. Thank you again for your positive review.
CUSTOMER REVIEW: Most average food, there is a nice view, But that’s about it
ChatGPT: Thank you for your review. We apologize if your dining experience was not up to your expectations. We strive to provide top-quality food and service to all of our customers, and we will take your feedback into consideration as we continue to improve. Thank you for letting us know about your experience.
13. Crime-fighting
Zack Seipert said, "I researched some famous unsolved murders, and ChatGPT laid out the crime, suspects, clues, and more." I bet experienced detectives could solve some of these cold cases.
14. Reduce bias
Joanne Taylor struggles to remove biases from her writing. She asked ChatGPT for ideas.
I asked ChatGPT to check a text for racial bias, and it did well.
15. Furnishings
I designed a small, unique table using ChatGPT and MidJourney. I edited ChatGPT's idea for clarity and brevity before entering it in MidJourney.
Results:
16. Serialize a novel
Scott Scowcoft led ChatCPT through iterations of a story text to create serialized novel frames. You can view this here.
17. Interview preparation
I was on a sales podcast. Although this is marketing-related, it's not my forte. I asked ChatGPT for help with a sales interview. Response:
Here are some interview questions about the future of sales and how to answer them.
How will technology affect sales in the future?
Technology will impact sales in the coming years. Automation and AI could be used to handle routine tasks, and data analysis and CRM could become more important. E-commerce and online sales channels are also reshaping the sales landscape.
How will the salesperson's role change?
Future sales roles may change in response to changing customer needs and expectations. Salespeople must be knowledgeable and consultative to help customers navigate complex products and services. Increasing importance of data analysis and CRM tools will require salespeople to understand and use technology effectively.
Future sales professionals will need what skills?
Future salespeople will need many skills. Sales professionals must have strong communication and interpersonal skills, as well as product and service knowledge and the ability to use data analysis and CRM tools effectively. Adapting to changing customer needs and staying current on industry trends will also be important for sales success.
18. Gift ideas
I need Christmas gift ideas for my wife. I asked:
Suggest a gift idea under $200 for a middle-aged woman who loves The Eagles.
A middle-aged woman who loves The Eagles might like a vinyl record of "Hotel California" or "The Long Run." Many music fans enjoy the unique sound and experience of vinyl records.
Pair the record with a high-quality record player for a complete gift. The vinyl record and record player should fit within your $200 budget for an Eagles fan.
19. Explaining complex concepts
I entered: Explain quantum physics to me as if I were 10 years old.
Quantum physics is a branch of science that studies how tiny particles, like atoms and subatomic particles, behave. These particles are so small that they don’t always follow the same rules as the things we can see and touch every day.
For example, sometimes they can be in two places at the same time, or they can be friends with each other even if they are far apart. This might sound strange, but it’s what scientists have learned from studying these tiny particles. Quantum physics helps us understand how the world works at a very small scale, and it can also help us make new technologies, like computers that are much faster than the ones we have today.
20. AP-style editing
Blogs, journals, and books follow AP Style. I asked ChatGPT to "edit using AP Style" and it did a great job.
And then... "Write a catchy headline for a blog post about 16 ChatGPT uses"
Here are some possible blog post titles for 20 creative ChatGPT uses:
“20 Fun and Creative Ways to Use ChatGPT: From Games to Quizzes and More”
“The Ultimate Guide to Using ChatGPT for Entertainment and Creativity”
“20 Reasons to Use ChatGPT: How it Can Enhance Your Gaming, Storytelling, and More”
20 Entertaining Uses for ChatGPT You Never Knew Were Possible”
“Unleash Your Imagination with ChatGPT: 16 Creative and Fun Ways to Use it”
In a previous post, I said ChatGPT will change marketing careers forever. I have never made a statement like that in my life. Even in the early days of the internet, people were cautious.
This technology was just released two weeks ago, and over a million people are already using it. This is the fastest technology adoption in history.
Today's post offers inventive and entertaining ideas, but it's just the beginning. ChatGPT writes code, music, and papers.

Nikhil Vemu
2 years ago
7 Mac Tips You Never Knew You Needed
Unleash the power of the Option key ⌥
#1 Open a link in the Private tab first.
Previously, if I needed to open a Safari link in a private window, I would:
copied the URL with the right click command,
choose File > New Private Window to open a private window, and
clicked return after pasting the URL.
I've found a more straightforward way.
Right-clicking a link shows this, right?
Hold option (⌥) for:
Click Open Link in New Private Window while holding.
Finished!
#2. Instead of searching for specific characters, try this
You may use unicode for business or school. Most people Google them when they need them.
That is lengthy!
You can type some special characters just by pressing ⌥ and a key.
For instance
• ⌥+2 -> ™ (Trademark)
• ⌥+0 -> ° (Degree)
• ⌥+G -> © (Copyright)
• ⌥+= -> ≠ (Not equal to)
• ⌥+< -> ≤ (Less than or equal to)
• ⌥+> -> ≥ (Greater then or equal to)
• ⌥+/ -> ÷ (Different symbol for division)
#3 Activate Do Not Disturb silently.
Do Not Disturb when sharing my screen is awkward for me (because people may think Im trying to hide some secret notifications).
Here's another method.
Hold ⌥ and click on Time (at the extreme right on the menu-bar).
Now, DND is activated (secretly!). To turn it off, do it again.
Note: This works only for DND focus.
#4. Resize a window starting from its center
Although this is rarely useful, it is still a hidden trick.
When you resize a window, the opposite edge or corner is used as the pivot, right?
However, if you want to resize it with its center as the pivot, hold while doing so.
#5. Yes, Cut-Paste is available on Macs as well (though it is slightly different).
I call it copy-move rather than cut-paste. This is how it works.
Carry it out.
Choose a file (by clicking on it), then copy it (⌘+C).
Go to a new location on your Mac. Do you use ⌘+V to paste it? However, to move it, press ⌘+⌥+V.
This removes the file from its original location and copies it here. And it works exactly like cut-and-paste on Windows.
#6. Instantly expand all folders
Set your Mac's folders to List view.
Assume you have one folder with multiple subfolders, each of which contains multiple files. And you wanted to look at every single file that was over there.
How would you do?
You're used to clicking the ⌄ glyph near the folder and each subfolder to expand them all, right? Instead, hold down ⌥ while clicking ⌄ on the parent folder.
This is what happens next.
Everything expands.
View/Copy a file's path as an added bonus
If you want to see the path of a file in Finder, select it and hold ⌥, and you'll see it at the bottom for a moment.
To copy its path, right-click on the folder and hold down ⌥ to see this
Click on Copy <"folder name"> as Pathname
to do it.
#7 "Save As"
I was irritated by the lack of "Save As" in Pages when I first got a Mac (after 15 years of being a Windows guy).
It was necessary for me to save the file as a new file, in a different location, with a different name, or both.
Unfortunately, I couldn't do it on a Mac.
However, I recently discovered that it appears when you hold ⌥ when in the File menu.
Yay!
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ANDREW SINGER
3 years ago
Crypto seen as the ‘future of money’ in inflation-mired countries
Crypto as the ‘future of money' in inflation-stricken nations
Citizens of devalued currencies “need” crypto. “Nice to have” in the developed world.
According to Gemini's 2022 Global State of Crypto report, cryptocurrencies “evolved from what many considered a niche investment into an established asset class” last year.
More than half of crypto owners in Brazil (51%), Hong Kong (51%), and India (54%), according to the report, bought cryptocurrency for the first time in 2021.
The study found that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging market (EM) countries:
“Respondents in countries that have seen a 50% or greater devaluation of their currency against the USD over the last decade were more than 5 times as likely to plan to purchase crypto in the coming year.”
Between 2011 and 2021, the real lost 218 percent of its value against the dollar, and 45 percent of Brazilians surveyed by Gemini said they planned to buy crypto in 2019.
The rand (South Africa's currency) has fallen 103 percent in value over the last decade, second only to the Brazilian real, and 32 percent of South Africans expect to own crypto in the coming year. Mexico and India, the third and fourth highest devaluation countries, followed suit.
Compared to the US dollar, Hong Kong and the UK currencies have not devalued in the last decade. Meanwhile, only 5% and 8% of those surveyed in those countries expressed interest in buying crypto.
What can be concluded? Noah Perlman, COO of Gemini, sees various crypto use cases depending on one's location.
‘Need to have' investment in countries where the local currency has devalued against the dollar, whereas in the developed world it is still seen as a ‘nice to have'.
Crypto as money substitute
As an adjunct professor at New York University School of Law, Winston Ma distinguishes between an asset used as an inflation hedge and one used as a currency replacement.
Unlike gold, he believes Bitcoin (BTC) is not a “inflation hedge”. They acted more like growth stocks in 2022. “Bitcoin correlated more closely with the S&P 500 index — and Ether with the NASDAQ — than gold,” he told Cointelegraph. But in the developing world, things are different:
“Inflation may be a primary driver of cryptocurrency adoption in emerging markets like Brazil, India, and Mexico.”
According to Justin d'Anethan, institutional sales director at the Amber Group, a Singapore-based digital asset firm, early adoption was driven by countries where currency stability and/or access to proper banking services were issues. Simply put, he said, developing countries want alternatives to easily debased fiat currencies.
“The larger flows may still come from institutions and developed countries, but the actual users may come from places like Lebanon, Turkey, Venezuela, and Indonesia.”
“Inflation is one of the factors that has and continues to drive adoption of Bitcoin and other crypto assets globally,” said Sean Stein Smith, assistant professor of economics and business at Lehman College.
But it's only one factor, and different regions have different factors, says Stein Smith. As a “instantaneously accessible, traceable, and cost-effective transaction option,” investors and entrepreneurs increasingly recognize the benefits of crypto assets. Other places promote crypto adoption due to “potential capital gains and returns”.
According to the report, “legal uncertainty around cryptocurrency,” tax questions, and a general education deficit could hinder adoption in Asia Pacific and Latin America. In Africa, 56% of respondents said more educational resources were needed to explain cryptocurrencies.
Not only inflation, but empowering our youth to live better than their parents without fear of failure or allegiance to legacy financial markets or products, said Monica Singer, ConsenSys South Africa lead. Also, “the issue of cash and remittances is huge in Africa, as is the issue of social grants.”
Money's future?
The survey found that Brazil and Indonesia had the most cryptocurrency ownership. In each country, 41% of those polled said they owned crypto. Only 20% of Americans surveyed said they owned cryptocurrency.
These markets are more likely to see cryptocurrencies as the future of money. The survey found:
“The majority of respondents in Latin America (59%) and Africa (58%) say crypto is the future of money.”
Brazil (66%), Nigeria (63%), Indonesia (61%), and South Africa (57%). Europe and Australia had the fewest believers, with Denmark at 12%, Norway at 15%, and Australia at 17%.
Will the Ukraine conflict impact adoption?
The poll was taken before the war. Will the devastating conflict slow global crypto adoption growth?
With over $100 million in crypto donations directly requested by the Ukrainian government since the war began, Stein Smith says the war has certainly brought crypto into the mainstream conversation.
“This real-world demonstration of decentralized money's power could spur wider adoption, policy debate, and increased use of crypto as a medium of exchange.”
But the war may not affect all developing nations. “The Ukraine war has no impact on African demand for crypto,” Others loom larger. “Yes, inflation, but also a lack of trust in government in many African countries, and a young demographic very familiar with mobile phones and the internet.”
A major success story like Mpesa in Kenya has influenced the continent and may help accelerate crypto adoption. Creating a plan when everyone you trust fails you is directly related to the African spirit, she said.
On the other hand, Ma views the Ukraine conflict as a sort of crisis check for cryptocurrencies. For those in emerging markets, the Ukraine-Russia war has served as a “stress test” for the cryptocurrency payment rail, he told Cointelegraph.
“These emerging markets may see the greatest future gains in crypto adoption.”
Inflation and currency devaluation are persistent global concerns. In such places, Bitcoin and other cryptocurrencies are now seen as the “future of money.” Not in the developed world, but that could change with better regulation and education. Inflation and its impact on cash holdings are waking up even Western nations.
Read original post here.

Theresa W. Carey
3 years ago
How Payment for Order Flow (PFOF) Works
What is PFOF?
PFOF is a brokerage firm's compensation for directing orders to different parties for trade execution. The brokerage firm receives fractions of a penny per share for directing the order to a market maker.
Each optionable stock could have thousands of contracts, so market makers dominate options trades. Order flow payments average less than $0.50 per option contract.
Order Flow Payments (PFOF) Explained
The proliferation of exchanges and electronic communication networks has complicated equity and options trading (ECNs) Ironically, Bernard Madoff, the Ponzi schemer, pioneered pay-for-order-flow.
In a December 2000 study on PFOF, the SEC said, "Payment for order flow is a method of transferring trading profits from market making to brokers who route customer orders to specialists for execution."
Given the complexity of trading thousands of stocks on multiple exchanges, market making has grown. Market makers are large firms that specialize in a set of stocks and options, maintaining an inventory of shares and contracts for buyers and sellers. Market makers are paid the bid-ask spread. Spreads have narrowed since 2001, when exchanges switched to decimals. A market maker's ability to play both sides of trades is key to profitability.
Benefits, requirements
A broker receives fees from a third party for order flow, sometimes without a client's knowledge. This invites conflicts of interest and criticism. Regulation NMS from 2005 requires brokers to disclose their policies and financial relationships with market makers.
Your broker must tell you if it's paid to send your orders to specific parties. This must be done at account opening and annually. The firm must disclose whether it participates in payment-for-order-flow and, upon request, every paid order. Brokerage clients can request payment data on specific transactions, but the response takes weeks.
Order flow payments save money. Smaller brokerage firms can benefit from routing orders through market makers and getting paid. This allows brokerage firms to send their orders to another firm to be executed with other orders, reducing costs. The market maker or exchange benefits from additional share volume, so it pays brokerage firms to direct traffic.
Retail investors, who lack bargaining power, may benefit from order-filling competition. Arrangements to steer the business in one direction invite wrongdoing, which can erode investor confidence in financial markets and their players.
Pay-for-order-flow criticism
It has always been controversial. Several firms offering zero-commission trades in the late 1990s routed orders to untrustworthy market makers. During the end of fractional pricing, the smallest stock spread was $0.125. Options spreads widened. Traders found that some of their "free" trades cost them a lot because they weren't getting the best price.
The SEC then studied the issue, focusing on options trades, and nearly decided to ban PFOF. The proliferation of options exchanges narrowed spreads because there was more competition for executing orders. Options market makers said their services provided liquidity. In its conclusion, the report said, "While increased multiple-listing produced immediate economic benefits to investors in the form of narrower quotes and effective spreads, these improvements have been muted with the spread of payment for order flow and internalization."
The SEC allowed payment for order flow to continue to prevent exchanges from gaining monopoly power. What would happen to trades if the practice was outlawed was also unclear. SEC requires brokers to disclose financial arrangements with market makers. Since then, the SEC has watched closely.
2020 Order Flow Payment
Rule 605 and Rule 606 show execution quality and order flow payment statistics on a broker's website. Despite being required by the SEC, these reports can be hard to find. The SEC mandated these reports in 2005, but the format and reporting requirements have changed over the years, most recently in 2018.
Brokers and market makers formed a working group with the Financial Information Forum (FIF) to standardize order execution quality reporting. Only one retail brokerage (Fidelity) and one market maker remain (Two Sigma Securities). FIF notes that the 605/606 reports "do not provide the level of information that allows a retail investor to gauge how well a broker-dealer fills a retail order compared to the NBBO (national best bid or offer’) at the time the order was received by the executing broker-dealer."
In the first quarter of 2020, Rule 606 reporting changed to require brokers to report net payments from market makers for S&P 500 and non-S&P 500 equity trades and options trades. Brokers must disclose payment rates per 100 shares by order type (market orders, marketable limit orders, non-marketable limit orders, and other orders).
Richard Repetto, Managing Director of New York-based Piper Sandler & Co., publishes a report on Rule 606 broker reports. Repetto focused on Charles Schwab, TD Ameritrade, E-TRADE, and Robinhood in Q2 2020. Repetto reported that payment for order flow was higher in the second quarter than the first due to increased trading activity, and that options paid more than equities.
Repetto says PFOF contributions rose overall. Schwab has the lowest options rates, while TD Ameritrade and Robinhood have the highest. Robinhood had the highest equity rating. Repetto assumes Robinhood's ability to charge higher PFOF reflects their order flow profitability and that they receive a fixed rate per spread (vs. a fixed rate per share by the other brokers).
Robinhood's PFOF in equities and options grew the most quarter-over-quarter of the four brokers Piper Sandler analyzed, as did their implied volumes. All four brokers saw higher PFOF rates.
TD Ameritrade took the biggest income hit when cutting trading commissions in fall 2019, and this report shows they're trying to make up the shortfall by routing orders for additional PFOF. Robinhood refuses to disclose trading statistics using the same metrics as the rest of the industry, offering only a vague explanation on their website.
Summary
Payment for order flow has become a major source of revenue as brokers offer no-commission equity (stock and ETF) orders. For retail investors, payment for order flow poses a problem because the brokerage may route orders to a market maker for its own benefit, not the investor's.
Infrequent or small-volume traders may not notice their broker's PFOF practices. Frequent traders and those who trade larger quantities should learn about their broker's order routing system to ensure they're not losing out on price improvement due to a broker prioritizing payment for order flow.
This post is a summary. Read full article here

Joseph Mavericks
2 years ago
5 books my CEO read to make $30M
Offices without books are like bodies without souls.

After 10 years, my CEO sold his company for $30 million. I've shared many of his lessons on medium. You could ask him anything at his always-open office. He also said we could use his office for meetings while he was away. When I used his office for work, I was always struck by how many books he had.
Books are useful in almost every aspect of learning. Building a business, improving family relationships, learning a new language, a new skill... Books teach, guide, and structure. Whether fiction or nonfiction, books inspire, give ideas, and develop critical thinking skills.
My CEO prefers non-fiction and attends a Friday book club. This article discusses 5 books I found in his office that impacted my life/business. My CEO sold his company for $30 million, but I've built a steady business through blogging and video making.
I recall events and lessons I learned from my CEO and how they relate to each book, and I explain how I applied the book's lessons to my business and life.
Note: This post has no affiliate links.
1. The One Thing — Gary Keller

Gary Keller, a real estate agent, wanted more customers. So he and his team brainstormed ways to get more customers. They decided to write a bestseller about work and productivity. The more people who saw the book, the more customers they'd get.
Gary Keller focused on writing the best book on productivity, work, and efficiency for months. His business experience. Keller's business grew after the book's release.
The author summarizes the book in one question.
"What's the one thing that will make everything else easier or unnecessary?"
When I started my blog and business alongside my 9–5, I quickly identified my one thing: writing. My business relied on it, so it had to be great. Without writing, there was no content, traffic, or business.
My CEO focused on funding when he started his business. Even in his final years, he spent a lot of time on the phone with investors, either to get more money or to explain what he was doing with it. My CEO's top concern was money, and the other super important factors were handled by separate teams.
Product tech and design
Incredible customer support team
Excellent promotion team
Profitable sales team
My CEO didn't always focus on one thing and ignore the rest. He was on all of those teams when I started my job. He'd start his day in tech, have lunch with marketing, and then work in sales. He was in his office on the phone at night.
He eventually realized his errors. Investors told him he couldn't do everything for the company. If needed, he had to change internally. He learned to let go, mind his own business, and focus for the next four years. Then he sold for $30 million.
The bigger your project/company/idea, the more you'll need to delegate to stay laser-focused. I started something new every few months for 10 years before realizing this. So much to do makes it easy to avoid progress. Once you identify the most important aspect of your project and enlist others' help, you'll be successful.
2. Eat That Frog — Brian Tracy

The author quote sums up book's essence:
Mark Twain said that if you eat a live frog in the morning, it's probably the worst thing that will happen to you all day. Your "frog" is the biggest, most important task you're most likely to procrastinate on.
"Frog" and "One Thing" are both about focusing on what's most important. Eat That Frog recommends doing the most important task first thing in the morning.
I shared my CEO's calendar in an article 10 months ago. Like this:

CEO's average week (some information crossed out for confidentiality)
Notice anything about 8am-8:45am? Almost every day is the same (except Friday). My CEO started his day with a management check-in for 2 reasons:
Checking in with all managers is cognitively demanding, and my CEO is a morning person.
In a young startup where everyone is busy, the morning management check-in was crucial. After 10 am, you couldn't gather all managers.
When I started my blog, writing was my passion. I'm a morning person, so I woke up at 6 am and started writing by 6:30 am every day for a year. This allowed me to publish 3 articles a week for 52 weeks to build my blog and audience. After 2 years, I'm not stopping.
3. Deep Work — Cal Newport

Deep work is focusing on a cognitively demanding task without distractions (like a morning management meeting). It helps you master complex information quickly and produce better results faster. In a competitive world 10 or 20 years ago, focus wasn't a huge advantage. Smartphones, emails, and social media made focus a rare, valuable skill.
Most people can't focus anymore. Screens light up, notifications buzz, emails arrive, Instagram feeds... Many people don't realize they're interrupted because it's become part of their normal workflow.
Cal Newport mentions Bill Gates' "Think Weeks" in Deep Work.
Microsoft CEO Bill Gates would isolate himself (often in a lakeside cottage) twice a year to read and think big thoughts.
Inside Bill's Brain on Netflix shows Newport's lakeside cottage. I've always wanted a lakeside cabin to work in. My CEO bought a lakehouse after selling his company, but now he's retired.
As a company grows, you can focus less on it. In a previous section, I said investors told my CEO to get back to basics and stop micromanaging. My CEO's commitment and ability to get work done helped save the company. His deep work and new frameworks helped us survive the corona crisis (more on this later).
The ability to deep work will be a huge competitive advantage in the next century. Those who learn to work deeply will likely be successful while everyone else is glued to their screens, Bluetooth-synced to their watches, and playing Candy Crush on their tablets.
4. The 7 Habits of Highly Effective People — Stephen R. Covey

It took me a while to start reading this book because it seemed like another shallow self-help bible. I kept finding this book when researching self-improvement. I tried it because it was everywhere.
Stephen Covey taught me 2 years ago to have a personal mission statement.
A 7 Habits mission statement describes the life you want to lead, the character traits you want to embody, and the impact you want to have on others. shortform.com
I've had many lunches with my CEO and talked about Vipassana meditation and Sunday forest runs, but I've never seen his mission statement. I'm sure his family is important, though. In the above calendar screenshot, you can see he always included family events (in green) so we could all see those time slots. We couldn't book him then. Although he never spent as much time with his family as he wanted, he always made sure to be on time for his kid's birthday rather than a conference call.
My CEO emphasized his company's mission. Your mission statement should answer 3 questions.
What does your company do?
How does it do it?
Why does your company do it?
As a graphic designer, I had to create mission-statement posters. My CEO hung posters in each office.
5. Measure What Matters — John Doerr

This book is about Andrew Grove's OKR strategy, developed in 1968. When he joined Google's early investors board, he introduced it to Larry Page and Sergey Brin. Google still uses OKR.
Objective Key Results
Objective: It explains your goals and desired outcome. When one goal is reached, another replaces it. OKR objectives aren't technical, measured, or numerical. They must be clear.
Key Result should be precise, technical, and measurable, unlike the Objective. It shows if the Goal is being worked on. Time-bound results are quarterly or yearly.
Our company almost sank several times. Sales goals were missed, management failed, and bad decisions were made. On a Monday, our CEO announced we'd implement OKR to revamp our processes.
This was a year before the pandemic, and I'm certain we wouldn't have sold millions or survived without this change. This book impacted the company the most, not just management but all levels. Organization and transparency improved. We reached realistic goals. Happy investors. We used the online tool Gtmhub to implement OKR across the organization.

My CEO's company went from near bankruptcy to being acquired for $30 million in 2 years after implementing OKR.
I hope you enjoyed this booklist. Here's a recap of the 5 books and the lessons I learned from each.
The 7 Habits of Highly Effective People — Stephen R. Covey
Have a mission statement that outlines your goals, character traits, and impact on others.
Deep Work — Cal Newport
Focus is a rare skill; master it. Deep workers will succeed in our hyper-connected, distracted world.
The One Thing — Gary Keller
What can you do that will make everything else easier or unnecessary? Once you've identified it, focus on it.
Eat That Frog — Brian Tracy
Identify your most important task the night before and do it first thing in the morning. You'll have a lighter day.
Measure What Matters — John Doerr
On a timeline, divide each long-term goal into chunks. Divide those slices into daily tasks (your goals). Time-bound results are quarterly or yearly. Objectives aren't measured or numbered.
Thanks for reading. Enjoy the ride!