Cisco IBM mainframe

We were throwing down the gauntlet.

IMF mainframe.

No modem access to a mainframe.

I just extended it.

Cisco IBM Tower

Cisco Radio Tower

look at one of them. Question answering. You may know that IBM's Watson won the

These are all people you would expect.

But we worship the high hospital on a hill. Right?

But how does it work?

So finally, I want to conclude by showing you the profile of one company, IBM.

This is research can't buy it.

It's a grid, it's a calendar.

And the problem is we can't afford it today, folks.

And then this is the day that he says, you know what?

They did way better than anyone could have expected.

What I can do is, I can then just go out there and buy my shares of IBM back, right?

But he owes one share of IBM.

First thing.

So then on this day he borrows one share.

And he also owes one IBM.

And what do I owe?

This is Kernigan and Ritchie inventing UNlX on a PDP.

So he has let's call that IBM one IBM.

That's day 0.

So instead of 160, he now has 110 and he has a share of IBM.

OK, so this broker has a ton of clients, many of whom own IBM.

How well are we doing determining what piece to move where?

I've been a geek forever and I wrote the very first DOS.

And one of the things I'm most proud of is this agreement for IBM.

What's my worst case scenario?

Then they switched to a magnetic drum.

Because that was just the market price.

Let's see what could have been a blunderous scenario.

Right?

So he has a one IBM share liability.

Because he had short sold, he had 160.

And they keep their shares of IBM with the broker.

Do I have to pay 100?

Take IBM, peak of the computer industry.

This is 1996 we did this project. And so we sent them off with this team name,

You're not buying the stock from that company.

First, the coursework at Caltech.

Now shares of IBM only cost 50, right?