njstraub608
Joined 8 years ago
Joined 8 years ago
Having spent the last ~6 years in big tech consistently frustrated by the rigidity of the processes and finding clever ways to navigate (see: wade through the bullshit), this isn’t as easy as you’d hope. The problem is that someone has to spend a non-trivial amount of time advocating internally for something like this (a “non-standard process”) which generally means asking pinging random people across finance, procurement, and legal how to deal with it and 99% of people will just throw up their hands (especially in this case because they don’t understand the importance of it). If things don’t fit a mold in these big companies, they fall into the event horizon and are stretched out to infinity.
I would argue this isn’t necessarily because of computers but a byproduct of an antiquated system and process being codified into a computer. The reason for this seems to be that there are structural inefficiencies built into our healthcare system that create a ton of added complexity that is near impossible to unwind because of legal (contractual and privacy-related) risks. For example, any attempts at improving efficiency in patient care creates potential liabilities for medical professionals. People are scared to innovate in this space, so the programs are just digital translations of an existing process. This requires a time investment to learn the “new way” of doing the same thing, and builds inherit laziness because steps are still require that should have been automated away. Medical notes are a good example of this; it’s required to be documented in an extremely specific way and of a certain length because of insurance so it just ends up being copy and pasted, free text, by the physician to meet this requirement.
Some examples:
"With more money being saved, and investments yielding higher returns, the more there is to spend on homes."
I tried dig up more information about how exactly BEA calculations the Personal Savings Rate, but it seems to be an estimate based on aggregate consumption. This savings rate doesn't necessarily imply that this money is invested in the stock market. Even if it was and they bought and then sold investments to pay for their homes they still have to pay taxes on those short-term sales. An increasing savings rate by ~26% over < 12 months is interesting but doesn't seem to be a strong argument. I think we need to go deeper here to see if this is a median number and how it would break down by demographics.
"We are in a record low rate environment, we’ve experienced unprecedented support via fiscal stimulus, and mortgage underwriting standards are far stronger than in the oughts, which has lead to less leverage and reduced the likelihood that a pile of cards built on risky mortgages will collapse the economy."
Generally with more expensive homes people are left with fewer options with who underwrites large loans, driving them to jumbo mortgage lenders. People may have stretched themselves to be able to buy a home given the low rates and the need for more space.
While I would like to say I agree with this, it's due to confirmation bias and an availability heuristic. If you don't provide data to support these claims then you're assuming your readers are no better than the subject of your post.
And actually understanding the context of what you're trying to use OCR on can work backward to determine what the text actually is, i.e. if it's a "Name" field then the probabilities of ambiguous letters may change (in the case of handwriting rec).
Source: I do a lot of post-sales consulting work implementing RPA solutions.