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[Assistant] But I think like patients are monitored, uh, regularly and I think there's, you know, maybe more, maybe there are more nurses and fewer patients. There's just a higher level of care.


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[Assistant] So when we, when we talk about hooking something up, uhm, we are usually talking about electronics, right Marco?


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[Assistant] Great, so you can see that there are a few different variations of this pattern here with the word hook up because it's a phrasal verb.


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[Assistant] And I think the same patterns can apply to our next phrasal verb.


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[Assistant] Alright, one final phrase for you. Out of the woods.


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[Assistant] I guess there are two variants of this phrase. We can say, I'm out of the woods, or we're out of the woods, or I guess we're not out of the woods yet.


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[Assistant] Yes, I had some people over for dinner and it was maybe 1.30 in the morning and I went downstairs to let them out and show them where the taxis were and then I came up and I saw that the cat was gone and it turned out that the cat fell out of the window.


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[Assistant] Yeah, so anyway, uhm, we brought him to the vet, he was in critical condition for a couple of days, uhm, and then we had to keep him in the vet, uhm, the vet's ICU for about a week.


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[Assistant] Uh, he broke his back, he broke his two of his legs, uhm, yeaah, and so he was in the hospital for three weeks and then at home, uhm, on bed rest for another three weeks, but now he's good as new.


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[Assistant] Nine lives. Nine? Nines. Yeaah. Uhm, I think maybe eight of his nine lives.


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[Assistant] Octopuses and their cephalopod kin are unique creatures. They can change their color and shape at a moment's notice. There's the whole business with the inking. But this uniqueness continues all the way to the DNA level. They have a completely wild way of adapting that researchers


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[Assistant] Are they definitely from Earth? Now, to understand why that's so weird, it helps to know how cells make the proteins they need.


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[Assistant] And that is where messenger, or mRNA, comes in. To make something from a gene, the cell first creates an RNA copy of that section of DNA. And that mRNA is the instruction material that it sends out of the nucleus


[User] Please transcribe this text

[Assistant] To the cell's protein-making factories. Only so many proteins can be made from one mRNA instruction manual before it gets recycled, though. So if a cell needs lots of a protein or a constant supply, it makes more mRNAs. Now, we usually think of organisms adapting through mutations to their genomes. Those changes to the DNA mean changes to the mRNA copies, and therefore a slight change in the proteins that are made from them. And if that new version of the protein helps the critters survive and reproduce, then more of the population will have it in the next generation.


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[Assistant] Is evolution in a nutshell. But researchers think that cephalopods in the subclass choleoidea, which includes octopus, squid, and cuttlefish, can adapt by editing their mRNA instead. That changes proteins a lot faster than DNA mutations, but it can get a bit messy. Think of it like cooking.


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[Assistant] DNA is the recipe, mRNA is the chef following the recipe, and the proteins produced by the cell, they're the meal. When the DNA mutates, the recipe changes.


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[Assistant] Typically do more harm than good. There's always more potential to break things than to make them better, so RNA editing often leads to diseases and disorders. Which is why, even though a lot of creatures can do it,


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[Assistant] They edit their RNAs extremely sparingly. We humans, for instance, edit only 3% of our mRNAs. Meanwhile, in 2015, researchers discovered that the longfin inshore squid


[User] Please transcribe this text

[Assistant] have hung on to ancient versions of their genes that code for the enzymes that actually do this mRNA editing. So, evolutionarily speaking, they have cultivated the ability to make these on-the-fly edits. Why risk the collateral damage?


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[Assistant] Well, it might be all about flexibility. For starters, these changes are more temporary. Not only are they not passed on to the next generation, like changes to DNAR, they also don't happen to every mRNA that's made from that gene. And that might mean the animals can use different versions of a protein as it suits them.


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[Assistant] Octopuses are able to produce different proteins depending on the temperature of the water around them.


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[Assistant] Cold temperatures slow proteins down, which could mean that everything a cold-water octopus tried to do would be really slow. But researchers have found that while cold and warm-water octopuses share nearly identical DNA, the ones living in colder waters


[User] Please transcribe this text

[Assistant] That they work faster when they're cold. So with just one gene, they can do well in warm,


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[Assistant] And cold water. Also, there's no rule that it has to be just one edit to an mRNA. If there are lots of potential editing sites, then an animal could make lots of different proteins from the same gene. And researchers think the ability to generate that level of protein complexity might explain one of cephalopods' most notable features — their smarts. Octopuses and their relatives


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[Assistant] RNA editing plays a big role in how their brains work. This theory tracks when you compare the colloids to their distant cousins, the nautiloids. Nautiloids don't edit their mRNA to the same extent.


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[Assistant] Every other animal on our planet. But one thing we do know is that studying these wonderfully weird creatures is expanding our ideas of how life works and what living things can do. And that is just one reason.


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[Assistant] Speaking of love, before I go, I'd like to give a little love to today's President of Space, Matthew Brandt. Matthew, we're very lucky to have you as a patron. We could not do this show without the support of patrons like you, so thank you for being a part of our


[User] Please transcribe this text

[Assistant] Awesomely nerdy community. And if you're not Matthew Brandt, but want to learn more about being a patron, including how you, too, can become president of space, you might want to head on over to patreon.com slash SciShow.


[User] Please transcribe this text

[Assistant] It's the same as the expected because it's known with certainty. Plus the beta.


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[Assistant] of the i-th asset times the return, expected return on the market.


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[Assistant] The theory of forming an optimal portfolio, which we have already discussed.


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[Assistant] Also the assumption that everybody does it. Okay.


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[Assistant] Now that second assumption, uh, has always bothered me.


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[Assistant] But let's go with it for now. We're talking about a world in which everyone has a smart money manager.


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[Assistant] Who looks at variances and covariances and figures out that in that world it should be that this equation holds


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[Assistant] Some assets have a higher return than other assets.


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[Assistant] Does that mean that investors were stupid who invested in the other assets? Absolutely not.


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[Assistant] The higher return is associated with higher beta, which means more risk. And I've just, we've just derived what the smart investor would do.


[User] Please transcribe this text

[Assistant] Uh, and the smart investor would hold all of the stocks, all of the assets, whether it's stocks, bonds, real estate, everything gets held.


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[Assistant] And not everything has the same predicted return. You can predict that some will earn more than others. But it's always because of higher beta.


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[Assistant] So, let's think about this. Some assets have a, uh, expected return which is less than the riskless rate.


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[Assistant] Those are negative beta assets, like gold.


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[Assistant] And so you say, well, why would anyone be so stupid as to invest in gold when it has a lower return than the riskless rate? And the answer is, it's not stupid at all.


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[Assistant] The negative beta is helping reduce the overall variance of their portfolio.


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[Assistant] Because gold goes up when the stock market goes down, it offsets other risks.


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[Assistant] There are other assets like Apple Computer. We can look back and say, wow, it had a really high return over the last 20 years. Was I a fool not to put all my money in Apple? No, you weren't a fool. You did exactly the right thing.


[User] Please transcribe this text

[Assistant] Because you didn't know the risk, how the risk outcome would come. You may know that it has a high expected return. But Apple is a, is...


[User] Please transcribe this text

[Assistant] It's plunging, it's a risk, it's a stock that won't help you in a stock market crash.


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[Assistant] And offsetting that, it would really help you a lot in a boom.


[User] Please transcribe this text

[Assistant] We're not enticed by Apple. We're not scared off by low return assets. But it all fits a model of, uh, looking at beta and, uh,


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[Assistant] Adjusting your portfolio so that you have the optimal mix.


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[Assistant] It's, it's kind of a complicated theory, because it involves this tangency portfolio, it involves, uhm, thinking about leverage, it involves thinking about


[User] Please transcribe this text

[Assistant] How things move together. But it is really the core idea in modern finance. That doesn't mean to say that it's absolutely right. It's not absolutely right. It's only a half truth.


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[Assistant] The problem is that not everybody is holding the optimal portfolio. We don't all own the same portfolio of risky assets. The world isn't quite consistent with this. But I think it is a very useful exercise to think about an idealized world where this holds.


[User] Please transcribe this text

[Assistant] A negative beta stock moves opposite other risks. So you may own Apple computer, uh, as an element of your portfolio. But, you know, it doesn't have to work out well. Even though ex ante, the Apple computer was run by brilliant people, history shows that there's risk in that.


[User] Please transcribe this text

[Assistant] And so you want to have it in your portfolio, but you want other things in there as well. And what you really like are things like an insurance policy against failure of Apple computers.


[User] Please transcribe this text

[Assistant] Now, you could call that an insurance contract. You could also call it a credit default swap, which is another, that you could focus that on a particular company.


[User] Please transcribe this text

[Assistant] Uh, but yes, there is a, the concept of insurance is fundamental to the concept of finance. I don't know why they separate them up. They're really two different aspects of the same thing.


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[Assistant] Insurance is a different industry. It has different historical origins and it's regulated differently. So securities in the United States are regulated by the Securities and Exchange Commission.


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[Assistant] However, insurance is not regulated by the federal government. It's regulated by the state governments.


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[Assistant] Uh, and so it's different people, but they, uh, they're doing similar


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[Assistant] Or you can think about, yeaah, people make finance analogies to, uh, life's decision. So, uh, we're gonna come up later about options, but an option is, uh, something you pay for the option to choose later. Some people have said that, uh, uh,


[User] Please transcribe this text

[Assistant] Committing yourself to marry someone is like exercising an option. So, uh, uh, people who are hesitant to commit are just people who have the optimal exercise strategy for their


[User] Please transcribe this text

[Assistant] You can draw further insights from all of this. That also, I didn't mean to speak so flippantly about marriage. I've been married for 40 years and I don't think flippantly about it at all.


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[Assistant] Uhm, sorry to bother you. Uhm, my name is Rachel. I'm new here. Can I ask you for a favor?


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[Assistant] Sorry to interrupt you, Sean. Could you do me a quick favor?


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[Assistant] I just want to know where the bathroom is. What's wrong with you people?


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[Assistant] I'm sorry to bother you, buts. I'm sorry to bother you, buts.


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[Assistant] One ghost for the day, one ghost for the night. Scene 1. A ghost comes to Richard Little. The year is 1653. It is a cold, dark winter night, and Richard Little, a man of forty, is sitting in his chair. He is reading a book. He hears something. He goes to the window, looks out,


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[Assistant] And then goes back to the chair. His wife Mary comes in. She is making a dress. She has the dress in her hand.


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[Assistant] Mary, I can hear something outside. There's nothing there. Read your book, Richard. Come and sit with me. No, I'm making a dress. I'm going upstairs.


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[Assistant] Scene 2. David Keech in court.


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[Assistant] In the court we can see Judge Timms, Keach, Barker, Reynolds, Richard and Mary.


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[Assistant] There are six women and six men behind Keech.


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[Assistant] They are from the village, and they are watching the trial.


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[Assistant] Judge Timms is in a big chair in front of the court.


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[Assistant] Oh Lil, we must listen to Oliver Barker and Philip Reynolds first.


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[Assistant] She's a dead man. Judge Tims, my husband is ill.


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[Assistant] In our house, he talks to people and there is nobody there. Can I take him home now, please?


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[Assistant] Scene 3. Keach finds Richard little. Richard is sitting in his chair at home.


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[Assistant] Oh no, not Richard, not my darling, darling Richard. Keach killed him. You're going to go to prison for this, Keach. Scene four, a visit for Keach in prison. Keach is in prison. He is sitting on his bed. He has a table, a chair, and a book there too.


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[Assistant] You've got some cracking ingredients here. Interesting ingredients. Uhm, starting off.


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[Assistant] Passion fruit, popping candy, licorice.


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[Assistant] What an awesome mystery box, that's gonna challenge him, but I think there's some real good combinations there.


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[Assistant] The difficulty in doing only two things is either going to be...


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[Assistant] You'll be working in pairs. And no, this ain't Santa's sack. Yeah.


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[Assistant] In here are five pairs of aprons. Pick one and go and stand with your partner. You got it?


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[Assistant] Try some stuff. This is what you've got to work with. I just need to now really come together the two of you and work out what you're going to do.


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[Assistant] Under immense pressure. Two hours, make shoe, make them correctly. There are signs in themselves. And what we've got here is...


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[Assistant] Well congratulations on being a, you know, really trying to push it out there and do lots of things. Make macaron, make shoe buns. There's nothing wrong with fennel in a dessert, but what is a fennel and? I need some clarity. You know what I'm trying to say? Thank you guys.


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[Assistant] Unfortunately, two teams didn't do quite so well.


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[Assistant] If I call your names, please step forward. You're in tomorrow's pressure test.


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[Assistant] Joining Gina and Jess in tomorrow's pressure test are...


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[Assistant] We're sorry Gina, Jess, Sarah, Sashi, but tomorrow one of you is going home.


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[Assistant] So today's mystery box is set by Adriano Zumbo. We've got 75 minutes to make something amazing. Yum.


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[Assistant] All my elements are done munchoo buns. They're filled with the yuzu curd. The sponge sugar is finished, so I think let's attempt a cockroach.


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[Assistant] I'm happy at this point. Like, I've made a croquembouche. All I need to do is move it onto a plate and add the sponge sugar.


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[Assistant] Huda have made an apple pie dessert that I love. I've tasted her creme- apple pie creme pat before. She made it before. And it's delicious. So we're going with apple pie cock and bush.


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[Assistant] Uhm, what's wrong with apple pie? I love apple pie. Everyone loves apple pie. Shoo hell.


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[Assistant] We're just gonna go with our guts. We're sticking with apple pie.


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[Assistant] Yeah, but I can't construct without it being piped.


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[Assistant] It's time to just make this tower as beautiful as I can. So I've got the apples on there. I'm wrapping it in a caramel. And it's looking good.


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[Assistant] I think that it's delicious, I think that the choux buns are perfect, so I'm just so happy.


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[Assistant] And so, I see, so then the 1.5 you can see as, uh, if the return of the market goes up, the S&P 500 goes up 10%, then


[User] Please transcribe this text

[Assistant] You should have 15% for Apple, which gives you the beta of 1.5 on average.


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[Assistant] And so, is there any particular reason why some company X would have a high beta versus another company having a lower beta?


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[Assistant] And so then a counter example to this might be if there's a very low beta stock, so that would kind of look like a...


[User] Please transcribe this text

[Assistant] Okay, so that means that, uh, when the market is doing well, when the economy is doing well, uh, gold might not necessarily be a great option, uh, in terms of returns, but then when we have a recession, that's when you see returns highest for gold.


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[Assistant] Let's illustrate the idea of how levering up to the hilt can give you any expected portfolio return you want.


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[Assistant] Let's say you start with one dollar, and there are only two investable assets in the world.


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[Assistant] Let's look at a risky asset which offers an expected return of 20% and a return standard deviation of 5%.


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[Assistant] And the other asset is the risk-free asset, which guarantees a return of 10%, with no risk.


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[Assistant] If you want 100% expected return on your $1 portfolio, first borrow, aka short, $8 from the risk-free market, and now you have $9 to play with. Invest all $9 in the risky asset,


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[Assistant] This provides you with an expected return next period of 20%, so your portfolio now has $10.80 on average. Pay back what you owe, which is 8 times 1.1,


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[Assistant] or $8.80. You're left with $2 in your portfolio and you have thus doubled your initial investment on average.


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[Assistant] Remember though, you took on an 8 to 1 leverage ratio to get here.


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[Assistant] Using the formula, the standard deviation of your portfolio return was 9 times 5 percent or 45 percent.


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[Assistant] If the risky asset realized any return less than negative 2.2%,


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[Assistant] Which is half of one standard deviation away from the mean, you would have had to file for bankruptcy.


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[Assistant] Today's pressure test has been set by someone whose story should resonate with all of you.


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[Assistant] Unlike so many home cooks and self-taught bakers, she started to post pictures of her colourful creations online.


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[Assistant] That was a little over four years ago. Today, she is an Instacake pop star.


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[Assistant] People even have them tattooed on their calves and on their thighs She's also a massive heavy metal fan


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[Assistant] Nice gloves. You're starstruck.


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[Assistant] I mean I think what's fascinating is that you really were where all our contestants were four years ago. What advice would you give them to try to carve a new career in your absolute passion?


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[Assistant] So, safe to say what's under that very beautiful satin cloche is going to be beautiful, exacting, colourful.


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[Assistant] Because I think when you hear two plus hours, you think that's loads of time, but just the decorating is 45 minutes, isn't it? And the look is crucial. Now that's what makes a Catherine Sabbath cake, is the look as much as the flavour. Because of the evenness of the stripes, you've got to do the fine work. She's not just piping on icing and then smearing it.


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[Assistant] Oh Gina, listen to that snap. Nice Gina, great work.


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[Assistant] It's stressful enough making a birthday cake for your own kids, let alone making a Catherine Sabbath cake.


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[Assistant] Where your future in the competition depends on how well you do. Catherine that was a big arse. How do you think they went?


[User] Please transcribe this text

[Assistant] Yeah, the cake's great, it's moist, it's cooked through at the edges and in the middle, which is a big plus. And I really like the preponderance of raspberry actually in the filling and it gives some real freshness.


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[Assistant] Lots of raspberries, so that's a take. Buttercream's good. But the cake is.


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[Assistant] It certainly looks great. Uhm, I like the volume of rattle on the inside.


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[Assistant] This sponge was the best cooked sponge of the day. Well done.


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[Assistant] We need some advice on your daughter's dish. Hello. This is Nona and Celia. How are you? Ciao. Surreal.


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[Assistant] As any schnitzel I've had anywhere in the world. Absolutely exemplary. Well done.


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[Assistant] I really try not to think about the fact that it could be my last day. Just gotta push really hard and make sure that every aspect is amazing.


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[Assistant] I'm a stay at home mum to my son Elvis who's two and a half.


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[Assistant] For his birthday, I didn't even want to tackle a cake. So I made him this big jelly. So I can't believe that I'm actually making a birthday cake today.


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[Assistant] And I miss him like crazy, but I feel like I wanna hit that next milestone so that all that time I've spent away from him is really for something.


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[Assistant] I'm remembering how cool Katherine's cake looked with those beautiful stripey layers and the buttercream's really nice and smooth so the butter can't be too firm. Lumpy.


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[Assistant] I just put my butter in the microwave to soften it because it was a little bit firm and hopefully that will work.


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[Assistant] I've got my Swiss meringue buttercream done and now I just need to divide it into three bowls.


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[Assistant] I'm just adding the freeze-dried raspberries to half the Swiss meringue buttercream. That's for the filling.


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[Assistant] I've got my Swiss meringue buttercream divided and I really need to get onto this vanilla cake.


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[Assistant] I need to get onto this vanilla cake. I remember Catherine's sponge tasting really buttery and it had this beautiful creaminess to it and the vanilla flavour was lovely. So I want to make sure I get that flavour into my cake.


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[Assistant] I'm really happy with the way my cake batter looks, so now I have to get it into the oven and set a timer.


[User] Please transcribe this text

[Assistant] The raspberry white chocolate bar is the shards that go on top of the cake. The ones on Katherine's cake, they were really, really beautiful and had a nice snap. And the freeze dried raspberries gave it a bit of zing.


[User] Please transcribe this text

[Assistant] This white chocolate has been the element I've been dreading from the start. I have to tend for chocolate, and denburing chocolate is not my friend. Oh, don't look at me.


[User] Please transcribe this text

[Assistant] My cakes are nice and cool and now I can start to assemble.


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[Assistant] I've got my first layer of cake down and I just pipe some of the raspberry swiss meringue buttercream into the middle and just have to level it out.


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[Assistant] I need to start putting those stripes of white and pink Swiss meringue buttercream on the outside.


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[Assistant] Although I have a, I have a bit of a secret. My dad's a potter and I've been doing, uhm, ceramics since I was about two and I still am at the level of a two year old. I'm really bad.


[User] Please transcribe this text

[Assistant] Walking this dish to the judges and I'm a bit worried about the tempered white chocolate. I hope it doesn't affect the flavour. But I'm proud of what I've made.


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[Assistant] I really pushed myself today. It was way outside of my comfort zone. And yeah, I enjoyed it, but it was really intense.


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[Assistant] Gina's time has not even been set from the start and she's just gonna have to go from look and feel. It's a massive risk, I mean it could be undercooked in the middle, it could be overcooked on the outside.


[User] Please transcribe this text

[Assistant] Kinda scary. It is dwindling. Everybody is getting so, so much better. They were brilliant to start with, so there's a lot of competition.


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[Assistant] I make paella quite a bit. The only thing that scares me, a good paella normally would take an hour, an hour and a half to make. So it's a big, big challenge for me today.


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[Assistant] I'm gonna char grill the prawns, serve them on the beetle leaf, the lychee, some dipping sauce and then some crispy elements on top.


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[Assistant] Now, before we can write any code, we need to install and configure a code editor. So, a code editor is the main tool for any developer. And we use it, as the name says, to write our actual code. And so let's now go download a code editor.


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[Assistant] And the one that I advise everyone to use is Visual Studio Code, or VS Code for short.


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[Assistant] So this is in my opinion the best code editor by far that exists.


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[Assistant] And that's not just my own opinion. So VS Code is right now by far the most popular and most widely used code editor. And that is for a reason. It simply is the best and easiest to use. And of course, it is completely free.


[User] Please transcribe this text

[Assistant] Now, there are alternatives if you don't like VS Code for some reason.


[User] Please transcribe this text

[Assistant] So you can use Adam, or you can use something like Brackets as well, which is the code editor that I used to teach a previous version of this course.


[User] Please transcribe this text

[Assistant] But again, I'm going to use VS Code in this course and so I really advise you to follow this course using the exact same code editor to make everything easier for you to follow.


[User] Please transcribe this text

[Assistant] Again, this code editor is completely free and it works on every platform.


[User] Please transcribe this text

[Assistant] So just download, uh, whatever installer that you need for your own platform. Uh, then install, of course, that code editor on your computer. And once you're done, uh, come back to this video so that we can together set it up a little bit just so that we can get started in the next section.


[User] Please transcribe this text

[Assistant] Okay, so I hope that you managed to install VS Code on your system, and as you open it up, it should look something like this.


[User] Please transcribe this text

[Assistant] Now, the colors should probably all be different, but we will fix that in a second, and maybe this welcome screen also looks different, and maybe these icons here, because you might have installed the editor, uh, sometime after I recorded this video.


[User] Please transcribe this text

[Assistant] But anyway, the main things should still work the same. And so, let's actually start by installing a...


[User] Please transcribe this text

[Assistant] So a theme is basically all the colors that you see here on the screen and also the colors in the actual code that you're going to write. Okay? Now you don't need to install a theme, so you can simply change one of the themes that is already included in VS Code.


[User] Please transcribe this text

[Assistant] So just click down here on this icon and then color theme. And then here you can try, uh, one of these out.


[User] Please transcribe this text

[Assistant] And so if you like one of them, you can simply keep that one.


[User] Please transcribe this text

[Assistant] But as you see, the theme that I have is this Monokai Pro. And this one was not included by default by VS Code. And so if you want to install the same theme as I have, then simply come here to this extensions tab and then search for Monokai Pro.


[User] Please transcribe this text

[Assistant] Okay, then it's this first one here, and then you can simply, uh, probably somewhere here click on download.


[User] Please transcribe this text

[Assistant] Now, this theme is actually a paid theme that you can buy for about 10 US dollars or so. However, you can actually also use the theme for free forever. It will then just ask you every couple of days for you to buy it. But for me, that has never been a big problem.


[User] Please transcribe this text

[Assistant] Now, I just wanted to quickly mention that I'm not in any way affiliated with the theme and that this is not an advertisement.


[User] Please transcribe this text

[Assistant] So this is simply the theme that I love and that I use every single day. But of course, you can use a different theme or a theme that you have already been using yourself.


[User] Please transcribe this text

[Assistant] But if you like the theme, then you can support the creator, or you can use the theme for free, or you can of course also use another theme. And one other theme that is very similar, and which actually already comes with VS Code, is Monokai Classic. So it's this one.


[User] Please transcribe this text

[Assistant] So the colors here look a little bit different, but the Monokai Pro theme that I use is actually based on this one. And so therefore colors are quite similar.


[User] Please transcribe this text

[Assistant] And so therefore, this one is also a good pick in case you want to use a very similar theme to mine, but don't want to use Monokai Pro. But I'm gonna set it back to Monokai Pro now.


[User] Please transcribe this text

[Assistant] And so that's it about the theme. And so let's now move on and also talk about VS code settings.


[User] Please transcribe this text

[Assistant] And so here I'm going to show you a couple of settings that I'm using in the course videos and that you should probably use as well, uh, to make it easier for you to follow the videos and also to code on your own later on.


[User] Please transcribe this text

[Assistant] So the first setting is this autosave setting that you should set to on focus change. Okay? And so what this will do is that whenever you leave the code editor or you go to some other file, then it will automatically save that file without you having to do anything. So that's very helpful.


[User] Please transcribe this text

[Assistant] Now, if this isn't showing up here for you, uh, up here, you can simply search for everything. So you can simply search autosave like this. And then again, change it to on focus change. Then you could also, uh, change the font size, but that's not really important for you.


[User] Please transcribe this text

[Assistant] Then another one is this multi-cursor modifier. And this one sounds a bit weird, but you can simply set it to control command, or you can leave it at alt. So just when you need it, just know which of the two you selected.


[User] Please transcribe this text

[Assistant] But for now, again this is not important, I will only start using it a bit later.


[User] Please transcribe this text

[Assistant] Then I also have the word wrap turned on. But again, that's not that important.


[User] Please transcribe this text

[Assistant] Okay, so I think those are actually the most important ones. There's just another one that you need to change and that is called Format on Safe.


[User] Please transcribe this text

[Assistant] Alright, so just turn this one here on, uh, which says that a formatter must be available. And by now it is not, but in one of the next sections, we will actually install a formatter to automatically format our code. And by then this setting here must be turned on.


[User] Please transcribe this text

[Assistant] Okay, and that's actually it for this lecture already. Now just notice that I'm working on a Mac here, but everything will work exactly the same on Windows and on Linux. So this VS Code Editor, as I mentioned earlier, works just the same on all the platforms.


[User] Please transcribe this text

[Assistant] Now, just one final and small adjustment that we can make, which I just remembered, is that besides changing the main color theme, we can also change the theme of the file icons.


[User] Please transcribe this text

[Assistant] And so again, if you want your VS code to look exactly the same as mine, then you can select these SETI icons here.


[User] Please transcribe this text

[Assistant] So by default I think, uh, it should be this minimal, but I prefer these ones here.


[User] Please transcribe this text

[Assistant] And so by selecting this one here, then your code editor, uh, will probably look exactly the same as mine.


[User] Please transcribe this text

[Assistant] Alright, and with that we are actually ready to move on. Just make sure that you also have the latest version of Google Chrome installed on your computer, because that is going to be the browser in which we will be testing our code.


[User] Please transcribe this text

[Assistant] Alright, but with that we are now really done with this video and so I see you in the next one.


[User] Please transcribe this text

[Assistant] So I'll give you another example of, uh, practical financial innovation. So it's here, uh, inflation index that, so we have always traditionally borrowed money.


[User] Please transcribe this text

[Assistant] Uh, the idea is why don't we have a price index and have a, uh, a debt contract that pays back index to inflation. Then it's, it's fixed in real terms. What could be more obvious?


[User] Please transcribe this text

[Assistant] Uh, but the history of it is, is very, uhm,


[User] Please transcribe this text

[Assistant] Shows it was very slow to get going. Uh, I've tried to find who was the first person to define that in terms of


[User] Please transcribe this text

[Assistant] A consumer price index. There were earlier examples. For example, in Japan, they had rice bonds.


[User] Please transcribe this text

[Assistant] Uh, and maybe other places too. So a rice bond was a debt instrument that was payable in rice. Yes, the grain instead of currency. And you're safer with that than in currency if the government might print money and debase the currency.


[User] Please transcribe this text

[Assistant] But the idea that I'm referring to is something broad. Rice, the problem with rice bonds is the price of rice isn't stable relative to other prices. So you really want an index of prices.


[User] Please transcribe this text

[Assistant] And it occurred because of inflation. Uh, the US government was giving, uh, debt to the soldiers. Uh, this was during the Revolutionary War, uh, denominated in


[User] Please transcribe this text

[Assistant] And in order to keep the soldiers happy, this was necessity. As Plato said, necessity is the mother of invention. He was quoting someone else, I believe, but that's where it appears.


[User] Please transcribe this text

[Assistant] So they decided to define a consumer price index. They didn't call it that, they just defined it. And they bond had to pay out in inflation index terms. Uhm, and uh,


[User] Please transcribe this text

[Assistant] What a wonderful idea. Simple. You should promise them in real terms, not money terms. Inflation.


[User] Please transcribe this text

[Assistant] But, uh, there was, uh, uh, a lot of other people were paid in nominal debts, and there was an actual rebellion called Shays' Rebellion about the unfairness of this debt. Uh, so somehow the U.S. government didn't issue them again.


[User] Please transcribe this text

[Assistant] I was there advocating. This is one thing I advocated before it happened. Uh, not that that necessarily made a difference. Uh, but, uh, I just wonder about it. It seemed impossible.


[User] Please transcribe this text

[Assistant] Uh, I called Treasury like in 1996 and I said I want to talk to someone here. Why not, uh,


[User] Please transcribe this text

[Assistant] Why don't you do index debt, inflation index debt? And I got a guy on the phone and he said,


[User] Please transcribe this text

[Assistant] I said, how can that be? I mean, are people getting their real value or their debt wiped out by inflation? Don't they care? I mean, uh, it still puzzles me that it isn't more important.


[User] Please transcribe this text

[Assistant] People just don't get it. They make the same mistake again and again.


[User] Please transcribe this text

[Assistant] They think, well, inflation is only 2%. But they don't know that history shows that governments mess up all the time.


[User] Please transcribe this text

[Assistant] Now of course this is America, we don't mess up here. I guess you could say it's patriotic feeling. You don't want to raise the possibility that we would mess up and have a lot of inflation.


[User] Please transcribe this text

[Assistant] But maybe even if it isn't a lot, maybe, you know, how about 4% a year inflation? And you lose half your money in 20-some years. That's, that's within the realm of possibility. People don't even think about it.


[User] Please transcribe this text

[Assistant] In this little village? Oh yes. Nobody steals bicycles here.


[User] Please transcribe this text

[Assistant] I remember this village. I was here before, Jerry. I can feel it.


[User] Please transcribe this text

[Assistant] This hotel opened in 1853, right?


[User] Please transcribe this text

[Assistant] Brad, you looked at this book before. No, I didn't. Hey, you know something? It's 115.


[User] Please transcribe this text

[Assistant] Oh Brad, I'm sorry. No, no, it's okay.


[User] Please transcribe this text

[Assistant] I'm going to go back to New York next week. After our three weeks in England. And I'm going to be Brad Davis of Davis TV. Dad wanted that.


[User] Please transcribe this text

[Assistant] No, you go. I like it here. Here in the room.


[User] Please transcribe this text

[Assistant] Hmm, not working. Oh.


[User] Please transcribe this text

[Assistant] Yeah. Thanks, Jerry. I am tired.


[User] Please transcribe this text

[Assistant] In 1760 the hotel was a house. A family called Bannister lived in the house.


[User] Please transcribe this text

[Assistant] One day, the 19 year old daughter, Ellen,


[User] Please transcribe this text

[Assistant] Yes, I remember you. Hello, Ellen.


[User] Please transcribe this text

[Assistant] No, not everything. I remember our love. And you died. I remember that. I wanted to die too. And again, last month, I wanted to die.


[User] Please transcribe this text

[Assistant] Mrs. Finch, wait, please. Do you know about the Bannister family?


[User] Please transcribe this text

[Assistant] Mrs. Finch, what happened? How did she die? What happened to Matthew?


[User] Please transcribe this text

[Assistant] What did she say? She, she didn't speak, Jerry. She said nothing at all.


[User] Please transcribe this text

[Assistant] Did he love her? No. He had two or three women.


[User] Please transcribe this text

[Assistant] Who are you talking about? That witch Ellen Bannister. She ate cats for breakfast.


[User] Please transcribe this text

[Assistant] We waited seven hours.


[User] Please transcribe this text

[Assistant] She isn't coming. Because you're here.


[User] Please transcribe this text

[Assistant] Okay. Thanks, Jerry. Sorry. Hey! Here she is. Ellen. Ellen? It's me, Brad. Matthew. Man, oh man, it's all true. Ellen, please, tell me, what happened in 1760?


[User] Please transcribe this text

[Assistant] Before today, the answer was yes.


[User] Please transcribe this text

[Assistant] Matthew wanted to die, and go to be with Ellen. Do you understand that? Yes. But Matthew is dead, and I am Brad now.


[User] Please transcribe this text

[Assistant] I don't know. I'm thinking, is there a train from here to London tomorrow?


[User] Please transcribe this text

[Assistant] I don't know. I'm going to tell you tomorrow.


[User] Please transcribe this text

[Assistant] Jerry's going home, Mrs. Morgan. I'm staying here, at the hotel. I'm going to live here, always.


[User] Please transcribe this text

[Assistant] But yes, Davis TV needs a good man. My dad worked for years for Davis TV.


[User] Please transcribe this text

[Assistant] But now, it has a good man, Jerry. You. Me? Oh.


[User] Please transcribe this text

[Assistant] Thank you, Brad. That's okay. I'm happy. I'm in love.


[User] Please transcribe this text

[Assistant] She waited for me, and now I'm here.


[User] Please transcribe this text

[Assistant] I am never going to leave her again.


[User] Please transcribe this text

[Assistant] I called this meeting today in order to discuss our manufacturing plan, as I'm sure you're all aware, with the credit crunch and the global financial crisis.


[User] Please transcribe this text

[Assistant] We're obligated to look for more cost-efficient ways of producing our goods. We don't want to have to be looking at redundancies, so we've outlined a brief plan to implement the just-in-time philosophy.


[User] Please transcribe this text

[Assistant] Right. Production lead times can be reduced by moving workstations closer together, reducing queue length like, for example, reducing the number of jobs waiting to be processed at a given machine, and improving the coordination and cooperation between successive processes.


[User] Please transcribe this text

[Assistant] I called this meeting today in order to discuss our manufacturing plan as I'm sure you're all aware with the credit crunch and the global financial crisis.


[User] Please transcribe this text

[Assistant] We're obligated to look for more cost-efficient ways of producing our goods. We don't want to have to be looking at redundancies, so we've outlined a brief plan to implement the just-in-time philosophy.


[User] Please transcribe this text

[Assistant] Right. Production lead times can be reduced by moving workstations closer together, reducing queue length like, for example, reducing the number of jobs waiting to be processed at a given machine, and improving the coordination and cooperation between successive processes.


[User] Please transcribe this text

[Assistant] Delivery lead times can be reduced through close cooperation with suppliers. Possibly by inducing suppliers to locate closer to the factory, or working with a faster shipping company.


[User] Please transcribe this text

[Assistant] I think it's amazing. Oh, you have such good taste, Armand. I'm thinking of redecorating my house. Maybe you could give me a few pointers?


[User] Please transcribe this text

[Assistant] I want to dance salsa better. Can you give me a few pointers?


[User] Please transcribe this text

[Assistant] She was standing in the sun too long, so she passed out right in front of me.


[User] Please transcribe this text

[Assistant] I think it's amazing. You have such good taste, Armand.


[User] Please transcribe this text

[Assistant] I'm thinking of redecorating my house. Maybe you could give me a few pointers?


[User] Please transcribe this text

[Assistant] I think it's amazing. Oh, you have such good taste, Armand. I'm thinking of redecorating my house. Maybe you could give me a few pointers?


[User] Please transcribe this text

[Assistant] I'm definitely determined to fight for my place in the competition. We're at this point where there's 13 people now and everyone's bloody amazing. So I'm going to give it everything today.


[User] Please transcribe this text

[Assistant] My lipstick's my wall paint, so just, you know, like Braveheart. Putting it on and charging.


[User] Please transcribe this text

[Assistant] Follow the recipe, but at the same time you also need to use a little bit of your intuition.


[User] Please transcribe this text

[Assistant] Like it's fallen from the tree, that there's really nice leaves of the garnish on top. It just reminds me of autumn.


[User] Please transcribe this text

[Assistant] Of flavour, like you know that there's so many layers to it.


[User] Please transcribe this text

[Assistant] I've taken a quick scan of the recipe and I'm ready to get started. The first thing I have to do is cut off the Maryland's from the duck and I need to put them into the pressure cooker.


[User] Please transcribe this text

[Assistant] My challenge today is to be quick, be clean and be efficient and just move. I'm gonna fight so hard because I don't want to be my last cook today.


[User] Please transcribe this text

[Assistant] Let's rip the skin. Moving along.


[User] Please transcribe this text

[Assistant] She's got a motor on, come on Lise, come on. I'm cutting the skin off the breast, but then I start to poke some holes through it.


[User] Please transcribe this text

[Assistant] So I'm kind of struggling and that's kind of worrying me because it needs to be perfect.


[User] Please transcribe this text

[Assistant] Lisa, how you going? Uhm, I've put a few holes into my skin. I've poked a few holes. Have you, have you read the recipe right to the end?


[User] Please transcribe this text

[Assistant] Um, no, I've been just trying to do one step at a time. Lisa, stop.


[User] Please transcribe this text

[Assistant] I'm reading the recipe, going through the steps and making sure I understand how it all works together. And it makes me realise.


[User] Please transcribe this text

[Assistant] You know, I'm just gonna chop it up into rough pieces so I have no time to waste on it anymore. I'll quickly put it straight into the oven so it can crisp up.


[User] Please transcribe this text

[Assistant] I'm just concerned, uh, with time, like I need to make sure I push and get it done, cause I feel like I'm a bit behind, but I'm not gonna give up. Never gonna give up.


[User] Please transcribe this text

[Assistant] Time is going by so quick. I'm feeling really frazzled. I have so much to do. I still need to put the pasta into the fridge. Get cracking on my carrots. My crispy elements. Two purees. My veloute and my confit egg.


[User] Please transcribe this text

[Assistant] So, I'm rushing, I'm a bit stressed. It's probably not as perfect as Alice. But I just need to get it all done if I'm gonna catch up. Keep going, make that pasta. Come on.


[User] Please transcribe this text

[Assistant] I finish my chestnut pasta and I quickly wrap it so it's airtight and get it resting in the fridge and I move on to my duck egg yolk.


[User] Please transcribe this text

[Assistant] The meat falls right off the bone and it's really juicy from all that duck fat.


[User] Please transcribe this text

[Assistant] This will stop the cooking process. I crack the egg and I carefully move away the egg whites and keep just the yolk.


[User] Please transcribe this text

[Assistant] Once I have the yolk ready, I put it into thyme infused oil to sit.


[User] Please transcribe this text

[Assistant] I make sure I have a backup and I'm really careful when I put them in the oil.


[User] Please transcribe this text

[Assistant] I'm really happy with my egg yolks and my duck confit's done, so I need to move on to the celeriac puree.


[User] Please transcribe this text

[Assistant] The celeriac puree sits at the bottom of the duck and that's what gives it this creaminess.


[User] Please transcribe this text

[Assistant] So I just need to get the celeriac and milk onto the stove and cook it until it's nice and soft. Ah, thank you.


[User] Please transcribe this text

[Assistant] Because I just want to do a great dish and Ella's a Nikon and I want to make sure I do her proud.


[User] Please transcribe this text

[Assistant] Yep. I still need to do my sauteed mushrooms, cook my pasta and start plating up the dish.


[User] Please transcribe this text

[Assistant] I'm definitely feeling really nervous because there's so many elements that need to go on the plate. So I'm thinking how am I going to get this all up?


[User] Please transcribe this text

[Assistant] I'm going through my mind trying to remember all the elements and how it tasted when I first tasted it. But it's really hard to remember.


[User] Please transcribe this text

[Assistant] It's just frantic. I'm trying to get as much as I can on the plate. So whilst I might have all the elements, I'm not sure it looks or tastes exactly like Ella's dish.


[User] Please transcribe this text

[Assistant] I have this thinking feeling because I don't feel like I've done Alice Justice.


[User] Please transcribe this text

[Assistant] I had a great time. I just don't want it to be my last cook in the kitchen and the competition. Uhm, yeaah. So that's how I'm feeling right now.


[User] Please transcribe this text

[Assistant] I don't feel like I've done Alice. Do you stress this?


[User] Please transcribe this text

[Assistant] I got flustered and I don't know if I got the balance right. So I'm really worried at this point.


[User] Please transcribe this text

[Assistant] I'm really disappointed, uhm, that I'm going home, but I think I've done well to get to this point. So, I'm proud of myself. Well done, and good luck.


[User] Please transcribe this text

[Assistant] Whether I left the first day or whether I left today, They'll be proud of me no matter what.


[User] Please transcribe this text

[Assistant] Gave it my best shot. And this is definitely not the last you've seen of me.


[User] Please transcribe this text

[Assistant] But I basically only eat two chocolate and pistachio. 21 please.


[User] Please transcribe this text

[Assistant] There's a lot of creamy flavours that look exactly the same.


[User] Please transcribe this text

[Assistant] I definitely know the flavour, but it's just not coming to me.


[User] Please transcribe this text

[Assistant] I'm definitely gutted, but, you know, I'm leaving all my girl power to Kristen today. Come on, Kay.


[User] Please transcribe this text

[Assistant] Kristen isn't taking Shannon's advice. He tells her not to add any more lime to the mousse, but she does.


[User] Please transcribe this text

[Assistant] Thanks to Brilliant for supporting this episode of SciShow. Go to Brilliant.org slash SciShow to check out their Classical Mechanics course.


[User] Please transcribe this text

[Assistant] Worldwide, scientists have catalogued more than 45,000 species of spiders. And in that number,


[User] Please transcribe this text

[Assistant] There's a lot of room for variation. Like, there are all kinds of ways a spider can catch prey.


[User] Please transcribe this text

[Assistant] But few species are as extreme as the slingshot spider. While others might wait for their prey to get caught in a sticky web, the slingshot spider uses its web to fling itself forward so fast it puts fighter pilots to shame. Slingshot spiders are native to the Peruvian Amazon, and at first glance,


[User] Please transcribe this text

[Assistant] They seem like you're every day erected. In fact, at no more than a centimeter in length, they're easy to miss. Unless you're an insect, and they're shooting straight at you. The trick to their acrobatics comes from how they build their webs. While other spiders form flat webs, slingshot spiders work in three dimensions.


[User] Please transcribe this text

[Assistant] It releases the tension line for a split second, and the spider and web shoot toward their target together and ensnare their prey. The whole trap only flies forward a few centimeters, but it covers that distance with astonishing speed.


[User] Please transcribe this text

[Assistant] The world's most intense roller coaster hits around 6 Gs, while the pilot of a fighter jet can withstand about 13 Gs before blacking out. But when the slingshot spider releases its trap, it experiences…


[User] Please transcribe this text

[Assistant] On a normal day, spider silk is one of the strongest materials we know about. Even so, it's kind of amazing that the slingshot spider's web manages to survive under the strain of such incredible acceleration. And that sturdiness is probably due to its shape. Researchers think that the web's conical shape helps the force dissipate through the web,


[User] Please transcribe this text

[Assistant] Now, slingshot spiders aren't the only cool spiders out there, and they aren't the only ones to use their webs as traps. For instance, triangle spiders also form webs attached to an anchor line.


[User] Please transcribe this text

[Assistant] Then when the prey gets near, they release the line, launching the web towards their prey like a net. But slingshot spiders are faster, and they have an added advantage. By only releasing the tension line a little bit at a time, they can reuse the same web instantly and repeatedly.


[User] Please transcribe this text

[Assistant] Re-gripping the tension line and essentially reloading the trap if they miss. So when it comes to hunting speed and ingenuity, the slingshot spider definitely has eight legs up on the competition.


[User] Please transcribe this text

[Assistant] You can sign up at Brilliant.org slash SciShow and get 20% off the annual premium subscription.


[User] Please transcribe this text

[Assistant] Welcome back. Let's now start to really learn the JavaScript language, starting with values and variables.


[User] Please transcribe this text

[Assistant] And let's start by getting rid of some of the code that we have here. So this one here isn't doing anything.


[User] Please transcribe this text

[Assistant] And let's also delete this one so that we don't get that annoying popup all the time.


[User] Please transcribe this text

[Assistant] So, in this section, I will be using persons as examples. For example, a person's name, a person's age, or a job. Alright?


[User] Please transcribe this text

[Assistant] But anyway, let's talk about values now. So a value is basically a piece of data. So it's the most fundamental unit of information that we have in programming. For example, this text, Jonas, is a value.


[User] Please transcribe this text

[Assistant] Alright, so this here is a value. And again, if we want to actually see this in the console, let's say console.log, and then open up the parentheses, and then close them here, and then the semicolons.


[User] Please transcribe this text

[Assistant] So if I save and reload, then of course we get Jonas. Okay? And so Jonas here is the value.


[User] Please transcribe this text

[Assistant] Or we can of course have different values. For example here, 23 is the value.


[User] Please transcribe this text

[Assistant] Right? And so now we see 23 in the console. And the same is true up here.


[User] Please transcribe this text

[Assistant] So in this line of code, where the values are actually 40,


[User] Please transcribe this text

[Assistant] And eight. And twenty-three. And ten.


[User] Please transcribe this text

[Assistant] So all these four are different values. And then these mathematical operators here join them together to form just one value. And that value is then 61. Okay? And so a value is basically the smallest unit of information that we have in JavaScript.


[User] Please transcribe this text

[Assistant] Now, one extremely useful thing that we can do with values is to store them into variables. And so this way, we can reuse them over and over again.


[User] Please transcribe this text

[Assistant] For example, we can say let and then the name of the variable.


[User] Please transcribe this text

[Assistant] And then assign a value like Jonas to this variable. Okay? And so what we did here is called declaring a variable. Okay? And so this will actually create a real variable in your computer's memory and will store this value inside of that variable.


[User] Please transcribe this text

[Assistant] And actually that is exactly what we did up here right in the beginning. So here we declared a variable called js and assigned the value of amazing to that variable. Right? And so now it hopefully makes sense to you what we did back then.


[User] Please transcribe this text

[Assistant] I like to imagine a variable like being a box. So in the real world, a box can hold some object, for example, a book, and we can then write a label on the box to describe what's in it. And then we can find the object later when we need it by using that label.


[User] Please transcribe this text

[Assistant] And variables actually work in the exact same way. So here, basically, we have a box called firstName. And into that box, we put the value of Jonas.


[User] Please transcribe this text

[Assistant] And now if we want to use this value, all we have to do is to basically use this label. Or in other words, this variable name. So first name in this case.


[User] Please transcribe this text

[Assistant] And so, let's use it, actually. And for that, once again, I will use console.log.


[User] Please transcribe this text

[Assistant] And you will see me using console.log throughout this entire course, actually.


[User] Please transcribe this text

[Assistant] So whenever we need to output something from our code to the browser, we always use console.log like this. And so here, now, instead of passing a literal value, like we did here and here and here, now we can pass in, so we can write here, the variable name.


[User] Please transcribe this text

[Assistant] And if I save it and reload it, let's see what happens.


[User] Please transcribe this text

[Assistant] Indeed, we get Jonas. So from line number 8. And so that's right here. And that means that indeed our variable declaration up here worked.


[User] Please transcribe this text

[Assistant] Let's put it back. And of course, we can now use this variable name many times. So let's just copy and paste this here a couple of times. And give it a save.


[User] Please transcribe this text

[Assistant] And so now we have it three times. And that means that whenever JavaScript sees this variable name here, it will basically replace it with the original value that we assigned to the variable.


[User] Please transcribe this text

[Assistant] So again, that's Jonas. And this is extremely useful, because now, if I want to change the first name to something else, I only have to do it in one place. So just here.


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[Assistant] So let's change it here to Matilla. And if I save it now and reload, of course it will change in all the three places.


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[Assistant] So this is one of the big advantages of variables. Without variables, I would now have to manually change the value everywhere to Matilla.


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[Assistant] But like this, everywhere where I reference this variable, it will automatically get changed to Matilda. So that's one of the most important things to keep in mind about variables.


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[Assistant] Great. And now that we know what a variable is, let's just very quickly talk about conventions and rules for naming variables. Because we shouldn't just give random names to variables.


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[Assistant] So first, the way that I named this variable here is called camelCase. camelCase means that whenever I have multiple words in a variable name,


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[Assistant] I write the first word with a lowercase, and then all the next words with uppercase, like this.


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[Assistant] So, if it was just first, we would write it like this.


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[Assistant] But if we had more than one word, like first, name, person, then you see that all the subsequent words are written with this uppercase letter. And this is kind of a standard in the JavaScript world. But of course, there are other ways of naming variables. For example, we could write


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[Assistant] First name with an underscore like this. And this is very popular in other languages like Ruby.


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[Assistant] Or like this. Okay. And you can use whatever you like most. Just keep in mind that it's kind of a standard in JavaScript to write variable names like this. So usually whenever you see other people's code, the variables will usually be written using the camel case notation.


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[Assistant] So that's kind of a convention of how to name variables in JavaScript, but there are also some actual hard rules in JavaScript about how we can name variables. For example, we cannot write something like this, like three years and set it to the value of


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[Assistant] So this is an illegal variable name, and VS Code actually warns us right away here. And again, that's because this variable name starts with a number. And if we tried to load this in JavaScript, we would get this error. So that's an invalid or unexpected token here.


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[Assistant] And it's important to actually start reading these error messages right from the beginning of the course. So we see that this is a so-called syntax error, which means that we did a mistake in writing our code. So that's a mistake in the code's syntax. And we can also see the line where the error occurred.


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[Assistant] So line 13, so that we can then go ahead and fix it. And notice how this error was shown in the console, even though we didn't use console.log in this case.


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[Assistant] Okay, so we don't need to use console.log for the console to show errors. All the errors that we make will always end up in the console and also here with this, well, error icon.


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[Assistant] Now anyway, back to our naming conventions here. So we already learned that variable names cannot start with a number. And in fact, variable names can only contain numbers, letters, underscores, or the dollar sign.


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[Assistant] So for example, if we try to write Jonas and Matilda,


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[Assistant] Right? And this time it's telling us unexpected token end. And again, that's because this symbol here is illegal in variable names. They can only contain numbers, letters, underscores, or the dollar sign. So this here, for example, would be allowed.


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[Assistant] So if we reload now, we get no more errors here.


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[Assistant] Another error might occur when we try to name a variable using a reserved JavaScript keyword. For example, if we did this, so new,


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[Assistant] For example, set it to 27, then this would also not be allowed.


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[Assistant] So you see unexpected token new. And that's because new is a reserved keyword in JavaScript, as we will see a little bit later. And the same goes for something like function.


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[Assistant] If we wanted to fix that, we could, for example, start this variable name with an underscore or with the dollar sign. So that's the only two symbols that are allowed besides letters and numbers. Another variable name that's kind of reserved, but still actually allowed to use is the word name. So we could do this.


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[Assistant] It would actually work, but in some cases, this creates some problems. Because again, this is kind of a reserved keyword, but it's still legal to use. But since it is a keyword, never call your variables just names.


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[Assistant] Okay, that's why I always, uh, call them first name like this.


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[Assistant] Let's actually get rid of this one because we already have first name up there.


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[Assistant] Now another convention is that we should not start a variable name with an uppercase letter. So we should not do this. So let person Jonas.


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[Assistant] Now, again, it's a convention, so that's not illegal.


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[Assistant] It's just that we use this kind of variable names with an uppercase letter for a specific use case in JavaScript, which is object oriented programming as we will see later in the course. So for now, never do this, but instead you should write it like this with a lowercase letter starting.


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[Assistant] On the same note, variables that are all in uppercase are reserved for constants that we know will never change.


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[Assistant] So we know that this number is never going to change, and so that's a constant, and for that we have a convention of writing it in all uppercase. And VS Code actually marks this variable name with a different color, because it knows about this convention that we use.


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[Assistant] Of course you could also write it like this, but then this would be kind of weird actually.


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[Assistant] So if it's a real constant, write it in uppercase like this. So that's a pretty normal convention there in programming as a whole.


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[Assistant] Finally, to finish this lecture, let's talk about one final convention, which is to make sure that our variable names are descriptive. And that's very important to write cleaner code.


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[Assistant] So when you name your variables, it should be really easy to understand exactly what value the variable is holding just by reading the name of the variable. And that's kind of what we did up here by calling this one first name. But let me show you another example. For example, let's say my first job.


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[Assistant] So which set of variables do you think is more descriptive? Is it these ones or these ones?


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[Assistant] And I hope that you agree with me that it's much easier to understand what programmer and teacher are in this case here by simply looking at the variable name.


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[Assistant] So we know that my first job was programmer and that my current job is teacher. While down here, well, we would simply know that these are two different jobs. We don't know anything about them.


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[Assistant] And so this approach up here is a lot better.


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[Assistant] So keep that in mind whenever you write your own variable names. And actually keep all of this in mind that we just talk about for naming your variables. Okay?


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[Assistant] So just to quickly recap, uh, what a variable actually is.


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[Assistant] It is basically a box into which we can store a value.


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[Assistant] So we give that box a name, which in this case here is first name, or in this case here it's my first job, for example, and then into that box with that label we can store a value, which in this case is this programmer string here.


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[Assistant] Then later in the code, we can reference that variable over and over again.


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[Assistant] My first job, and if I save this, then of course here we see programmer. Once again, you probably saw my code changing here automatically from the single quotes to double quotes, but that is just my automatic formatting doing its work.


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[Assistant] And now, if we wanted to change this here, let's say Coder,


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[Assistant] Then it would change across the entire program, and now we get Coder here. And that's what variables are all about. They're one of the most important things of programming, and so make sure to really understand them before you move on.


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[Assistant] Especially with the cook that we had, I thought that we all worked really well in the kitchen. The food that came out yesterday was exceptional.


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[Assistant] Top 10 is literally one cook away. I don't want to see any of these people go home.


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[Assistant] I'm trying to remain as focused and as calm as possible, but uh, it's Kirsten Tibbles.


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[Assistant] The ingredients that I'd like to cook with are almond or coconut.


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[Assistant] Good spin. I really don't want to get peppermint or banana.


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[Assistant] I've got a couple of ideas that are coming to mind straight away.


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[Assistant] I tasted the coconut wedge and it's awesome. Toasted coconut, white chocolate, it's beautiful.


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[Assistant] I've got coconut and I've gotta make it front and center of my dessert. The first thing that comes to mind is a good old fashioned lambington.


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[Assistant] Just, uh, very traditional style lambington, raspberry filling, whipped cream. I'm just gonna really emphasize the coconut in everything. First thing I do is make sponge cake.


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[Assistant] Desserts really are my forte, but to win MasterChef, you've gotta be an all-rounder. Good job, man.


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[Assistant] I've gotta make sure I nail these elements and get the flavor bang on.


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[Assistant] So I puree some raspberries in a small food processor, adding a bit of sugar syrup to that. That's gotta be nice and thick and punchy with flavour.


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[Assistant] I thought I could use the chocolate block, thought I'd melt that down. And then when I have the cut sponge, I'll coat it in the melted chocolate and then sprinkle toasted coconut on top.


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[Assistant] But then I check on my jam in the fridge and my heart just sinks. The mixture is just really wet.


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[Assistant] It is runny. There's no way I could put this on my sponge. It would just go absolutely everywhere.


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[Assistant] Yeah. I've gotta do something and I've gotta do it now. Come on, Ben.


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[Assistant] I'm moving like lightning at the moment. I portion my sponge cake into squares, place them on a wire rack and pour over the coconut white chocolate.


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[Assistant] I'm running out of time and I've just gotta go with it.


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[Assistant] I get my jam out of the blast chiller.


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[Assistant] I get it onto my sponge and it looks like jelly.


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[Assistant] I think I put too much gelatin in it. The wheels are really starting to fall off. My position in this competition is slipping through my fingers.


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[Assistant] My lamington doesn't look at all how I wanted it to. The chocolate is way too thick.


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[Assistant] There's no way I could be proud of this dish. It's ugly. It just looks over the top and messy. And...


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[Assistant] As I set the dish down, you can see that disappointment on the judges' faces. It's heartbreaking.


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[Assistant] So it's my version of a lamington using the coconut chocolate that I got off the wheel. Are you pleased? Uh.


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[Assistant] Uhm, yeaah, I really wasn't happy with the end result and it just didn't turn out how I wanted it to.


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[Assistant] I felt terrible. I was terrified and still am that uhm, that there will be my last ish in this competition and I really don't want it to be. Let's hope it's not. Fingers crossed. Thanks, Ben. Thank you.


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[Assistant] This week all through sweet week you have seen some of Australia's pastry greats.


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[Assistant] But no sweet week would be complete without this member of the MasterChef family.


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[Assistant] Looks of joy up on the gantry, but down here, just one or two looks of terror.


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[Assistant] You've got an open pantry, and the garden is in play. Kirsten, do you want to do the honors?


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[Assistant] It's a great looking dish. The caramel looks spectacular. The ice cream looks great. I'm excited for him. I'm also excited for the four of us.


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[Assistant] And wafts of cinnamon and whisky just rolling over. Give us something that's really familiar and then put a little twist on it and we'll be happy.


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[Assistant] Nails every corner of the brief. Technique, flavour and respecting the ingredients you have to hear us. So, I just love it. I love it because it is a classic dessert done really well with a great twist on it. It's super delicious. Fantastic cooking.


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[Assistant] Oh, Brendan, cinnamon sang beautifully throughout your dish. That excellent ice cream, that crispy roti. We love the bite of the apple, that little bitter perfume of toasted rosemary. Well done, mate.


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[Assistant] And wraps it up with a beautifully moist sticky date pudding. And what a great looking dish too, well done, great work.


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[Assistant] Brendan, Khan, congratulations. You're safe and you're in our top 10. Well done.


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[Assistant] Good job, Clay. Come on, mate. Focus up. Thanks, guys. You're alright, buddy.


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[Assistant] Sarah has put the chicken in the marinade but she have left the skin on.


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[Assistant] Sarah, Chloe and Jess are making sriracha butter chicken. But Sarah has left her skin on the chicken.


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[Assistant] I think chef made a mistake. I'm not sure what's gonna happen when she starts cooking.


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[Assistant] But she has caught up pretty well. I hope that she makes the roti right.


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[Assistant] Hi, welcome back. Again, my name is Paul Gruber, and this is the Pronunciation Workshop's fifth training session. We are really moving along. In this session, we will cover the L sound, which happens to be another important speech sound.


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[Assistant] Depending on your native language, some speakers have a very difficult time with the L sound. L sounds are actually very easy.


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[Assistant] Here are a few things to remember. Number one, when you were saying a word which begins with an L, your mouth should be wide open and your jaw should be down like this. That's an easy one.


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[Assistant] Number two, your tongue should rise up and push just behind your top teeth, like this.


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[Assistant] Ohhhh. Notice my mouth is open. Ohhhh. Number three, and this is the important part, you produce the L sound by dropping and relaxing your tongue.


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[Assistant] La, la, la. Like that.


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[Assistant] Now again you'll notice that my mouth and jaw are open. This is key.


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[Assistant] La la la. What I don't want you to do is to be moving your jaw along with your tongue. I don't want you to be doing this. La la la. Your jaw should not be moving at all. Keep it open.


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[Assistant] Here's a trick that may help you. Take your finger and put it in your mouth and pull down hard on your lower teeth and force your mouth open and your jaw down like this.


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[Assistant] Now, while your jaw is down, bring your tongue tip all the way up behind your teeth and do this.


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[Assistant] And that's what I want. I want your jaw to stay down, your mouth to stay open, and your tongue to rise up independently of your jaw.


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[Assistant] La la la, like that. And that's how you produce a beautiful and clear L.


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[Assistant] Okay, let's do some practice. Repeat these words beginning with the letter L. Here we go. Lunch. Local. London. Learn. Large. Life. Lobby. Library. Lucky. Lift. Laugh. Long. Very good.


[User] Please transcribe this text

[Assistant] Here are some words with L in the middle of them. When you say these words, focus on the L sound and really push them out. Inflation. Believe. Volume. Glue. Elevator. Solve. Pulling. Flood. Delete.


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[Assistant] Let's talk about when L falls at the end of a word.


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[Assistant] This is a big problem for many foreign speakers, so pay close attention to this. To produce an L sound at the end of a word, keep in mind that the sound of the L comes from the movement of the tongue rising. It does not come from the placement of the tongue, but from the actual movement. Watch me as I say this word.


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[Assistant] Hell. The L comes from the movement of my tongue.


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[Assistant] You may want to use that finger trick again. Put your finger in your mouth, pull down on your lower teeth, and slowly say the word. The only thing that should be moving is your tongue should be coming up. HELL!


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[Assistant] Your jaw should not be moving at all. Just let your tongue rise up. HELLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL


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[Assistant] If you're having difficulty, practice this in front of a mirror and watch your jaw and your tongue. And be sure you don't produce the L sound by closing your mouth, which many foreign speakers do.


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[Assistant] Hell. Hell. See how my mouth is closing? Hell. You don't want to do that. That produces a weak L and to an American listener it is not clear and you may not be understood.


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[Assistant] Let's start and practice these words ending with L's. Here we go. Will. Ball. Tall.


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[Assistant] Powerful. Control. Financial. People.


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[Assistant] Notice in this last word, people, it's not pronounced people with your tongue not moving. It's people with your tongue slowly moving up and your jaw remaining down. Stretch out that L sound. People like that.


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[Assistant] Here are some sentences that have many L's in them. Listen careful to my example and then repeat. Don't forget to push your tongue behind your upper teeth and to use strong L sounds. Here we go.


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[Assistant] The lollipop fell into the cool water.


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[Assistant] Her driver's license was pulled out of the blue golf bag. Blake's bowling ball fell under his tools.


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[Assistant] Carl could not locate the lemons or the limes.


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[Assistant] The school was a mile away from the hill.


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[Assistant] The golf club was made of steel.


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[Assistant] Al's goal was to play baseball with Carol.


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[Assistant] A certified letter was delivered for the enrollment list.


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[Assistant] It was revealing to look at the smiling lawyer. Very good.


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[Assistant] Here we are combining two sounds that we have already covered. The F sound and now the L sound. Don't forget to first bite your lip for that F.


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[Assistant] Like that. And then quickly push your tongue up and against your teeth for the L to create the FL blend. Fllllllllllllllllllllly like that. Okay. Let's try this slowly.


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[Assistant] Said the flea let us fly. Said the fly let us flee. So they flew through a flaw in the flu.


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[Assistant] Okay, let's do that one more time, this time a little bit faster.


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[Assistant] A flea and a fly flew up in a flu. Said the flea, let us fly. Said the fly, let us flee. So they flew through a flaw in the flu. Very good.


[User] Please transcribe this text

[Assistant] Okay, these next sentences all have the word will in them. The word will may be difficult for you because it has that final L sound. Remember, try to keep your mouth open, your jaw down as your tongue rises up. By doing this, you will produce a good final L sound.


[User] Please transcribe this text

[Assistant] Again, if you're having difficulty, try looking in a mirror. Use your finger and push down on your bottom teeth as you say the word will, like that. This will force you to keep your bottom jaw down as your tongue moves up. Here we go.


[User] Please transcribe this text

[Assistant] Will you empty the garbage?


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[Assistant] Will you prepare a meal for the children?


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[Assistant] When will you begin your studies at college?


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[Assistant] When will she purchase the dress for her wedding?


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[Assistant] Why will he ask them to stay late at work?


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[Assistant] Why will she bring her baby to the meeting?


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[Assistant] How will they know if our flight is delayed?


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[Assistant] Where will the child be going next year?


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[Assistant] Where will they put all of the pillows?


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[Assistant] What will she do with the millions of dollars she won?


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[Assistant] Very good. Now some Japanese and Chinese speakers in particular have difficulty distinguishing between the L sound and the R sound.


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[Assistant] Now that we have covered both of these sounds, I would like to go over some paired words containing these sounds.


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[Assistant] Keep in mind when you produce an L, your tongue moves forward and up behind your teeth.


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[Assistant] Oh, when you produce an R sound, your lips move forward, but your tongue moves all the way back. Basically, the L and the R are completely opposite sounds. Listen carefully and repeat these paired words.


[User] Please transcribe this text

[Assistant] Grass. Glass.


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[Assistant] Okay, I call these next words LR combinations. These words and phrases have an L sound and an R sound right next to each other. This forces you to make a clear L and then roll it right into a strong R. Here we go. Repeat after me. Seal ring. Toll road. Already. Civil rights.


[User] Please transcribe this text

[Assistant] Rail road. Rivalry. Coral reef. Jewelry. School room. Gravel road.


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[Assistant] Very good. As you can see, L's are a very important sound when it comes to speaking understandable English. You should review this material a few times for practice. Have fun and I'll see you next time. I'm Paul Gruber with the Pronunciation Workshop. Goodbye.


[User] Please transcribe this text

[Assistant] My carrot halwa is looking really good. It tastes nice. I can taste the carrot, I can taste the sultanas, but I don't want it overly sweet.


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[Assistant] I wanna add some toasted flaked almonds into the halwa.


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[Assistant] Yeah, come here to try and provide more for my family and this, this means so much I'm sure to all of us.


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[Assistant] The second thing is overconfidence. Uh, and uhm,


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[Assistant] Psychologists, well you can just do a survey. Most people think they're above average. Most people think they're a better driver than the average person. Most people think they're, if they tried hard they would be a better investor than the average person. Most people think they understand something that are not widely understood.


[User] Please transcribe this text

[Assistant] Uhm, wishful thinking bias is actually a term used in the psych literature, uh, that, uh,


[User] Please transcribe this text

[Assistant] People overestimate the probability of things that they identify with and want to see happen. Very simple. You ask people what they think the probability of their team winning is. And it's always higher if it's their team. Or if you're a political candidate.


[User] Please transcribe this text

[Assistant] So this wishful thinking bias also helps explain the immense volume of trade in financial markets. Uh, there's so many shares traded every day that it seems a puzzle. Why would people need to change their holdings so often?


[User] Please transcribe this text

[Assistant] Well it has, it must be because of wishful thinking bias.


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[Assistant] Uhm, there's also a tendency for overconfidence in, uh, friends and leaders. Uh, well I say here that central bankers tend to be thought to be a genius throughout history. They're always geniuses. Until they mess up, maybe.


[User] Please transcribe this text

[Assistant] But there's also overconfidence in your own friends. You tend to think that your own friends are really smarter than ever. It's not just you. Anyone you identify with, you tend to be overconfident in.


[User] Please transcribe this text

[Assistant] So uhm, there was a book by Rakesh Khurana at the Harvard Business School that documents the way CEOs, Chief Executive Officers are chosen by corporations.


[User] Please transcribe this text

[Assistant] Now companies will bring in a CEO from another company that was a success.


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[Assistant] To transform their own company and pass over someone in their own company.


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[Assistant] And they'll put him in, in place of their own guy, and then he feels that he has to make some transformation. He's supposed to be a genius, they're paying him 50 million dollars. So he does some dramatic things and totally destroys the company, because he doesn't know what he's talking about.


[User] Please transcribe this text

[Assistant] Also, Naseem Taleb in his book Fooled by Randomness, which is another great book to read, describes how people in business are overly influenced by the random successes of themselves or others.


[User] Please transcribe this text

[Assistant] People are over, now Irving Fisher was a professor here at Yale. And he wrote a book, uh, he was writing a book in 1929.


[User] Please transcribe this text

[Assistant] About how the stock market will continue to make us richer and richer. But the crash interrupted his book. So he had to change the title of the book.


[User] Please transcribe this text

[Assistant] So he called it the stock market crash and after. But what he said is the stock market crash of 1929 is a terrific buying opportunity. I was right all along. The stock market will just keep going up, or at least be, stay at a, quote, permanently high plateau.


[User] Please transcribe this text

[Assistant] But he never gave up. He kept saying that the stock market will keep going up. Why do they, why do people do this? Well, this is overconfidence.


[User] Please transcribe this text

[Assistant] He's a great speaker, but he wasn't a great stock market forecaster.


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[Assistant] Cognitive dissonance. This is a term used by, uh, social con-psychologists. It refers to the mental conflict that occurs when one's beliefs, uh, are discovered to be wrong. So I'll give you a famous experiment that revealed cognitive dissonance.


[User] Please transcribe this text

[Assistant] They knew that the person had bought a new car and they knew what model it was. They then


[User] Please transcribe this text

[Assistant] Didn't tell the experience, the subjects how they had found them. And they asked them, what magazines do you read?


[User] Please transcribe this text

[Assistant] And whatever, when they named the magazine, they would pull out a copy, they had all the new magazines there, and say, let's go through the magazine, and you tell me which ads you read in the magazine, and also,


[User] Please transcribe this text

[Assistant] Uh, whether you thought about them and read them carefully. So what do you think people did? Did they read ads for the car they just bought? Yes, they did that strongly.


[User] Please transcribe this text

[Assistant] They read and re-read and congratulated themselves about how great a car it was. Do you think they read the ads of a car, a different make of car, that they were thinking of buying but did not buy?


[User] Please transcribe this text

[Assistant] Right, as you'd expect, no, they don't read those ads. So why are they, isn't this irrational behavior?


[User] Please transcribe this text

[Assistant] You've already bought the car. Why bother to read any ads?


[User] Please transcribe this text

[Assistant] But on the other hand, why would you selectively ignore the ads for the other cars? Well, you're just trying to make yourself feel good, right? And so, uh, so it's, uh, it's irrational behavior.


[User] Please transcribe this text

[Assistant] Once you've made a decision, you kind of identify with that decision and it's me. Now I want to hear more about why I was right. I don't want to hear that I might be wrong.


[User] Please transcribe this text

[Assistant] It's, it's a personal thing. This isn't really talking about being embarrassed by a bad decision.


[User] Please transcribe this text

[Assistant] It's just perfectly internal to you, that you just get a bad feeling, uh, when you made a mistake. So the disposition effect might also be partially explained by that. If you bought a stock and its price goes down,


[User] Please transcribe this text

[Assistant] Uh, you don't, you're feeling that maybe you were wrong and that gives you the cognitive dissonance. So you just avoid it. I'm not gonna think about that stock. I didn't buy that. I'm not, I'm not here.


[User] Please transcribe this text

[Assistant] And then until it goes up, if it goes back up, then you might sell it as soon as it comes back.


[User] Please transcribe this text

[Assistant] They found evidence for cognitive dissonance, basically the disposition effect. But they also found that when they talked to investors, they didn't even remember the performance of funds that had declined. So there's a tendency of human thought, because of cognitive dissonance, just to blank out your bad memories.


[User] Please transcribe this text

[Assistant] Times when you were wrong and don't even know that they happen. We live in an economy that incentivizes people


[User] Please transcribe this text

[Assistant] To capitalize on your psychological quirks. And they strongly incentivize people to do that. That's what the profit motive is all about.


[User] Please transcribe this text

[Assistant] We're not rational in the sense that we have some consistent, logical way of deciding things. We all make little mistakes. And we learn, by the way, we hear from others about when they were really taken advantage of, so we avoid some things.


[User] Please transcribe this text

[Assistant] Some gimmicks. And we have laws against them. You know, the government regulates lotteries. You can't start a lottery. Uh, you can't do it at all. Or maybe you could do it as a part of a state government.


[User] Please transcribe this text

[Assistant] Uh, but, uh, and that's because they know that there are, there are, there are lots of giveaway contests, but they don't charge, because it's illegal to charge for them. They can just use them as publicity.


[User] Please transcribe this text

[Assistant] So, we have a legal system that protects us against our own psychological failings.


[User] Please transcribe this text

[Assistant] By the end of the week one of you will win the most powerful advantage in the history of MasterChef.


[User] Please transcribe this text

[Assistant] The rest of you will go straight into this week's monster elimination. That's throwing the cat among the pigeons.


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[Assistant] Brilliant. Definitely. This is a season of surprises. Here's another one. This week it's all about survival.


[User] Please transcribe this text

[Assistant] Because every time you cook, whoever cooks the least impressive food will go straight into this week's monster elimination. And you won't cook again until then. So,


[User] Please transcribe this text

[Assistant] And the rest of you will all face elimination.


[User] Please transcribe this text

[Assistant] Anniversary, the last contestant standing will win the 10 year superpower.


[User] Please transcribe this text

[Assistant] The most powerful advantage in the history of MasterChef.


[User] Please transcribe this text

[Assistant] Better than a power apron, better than an immunity pin.


[User] Please transcribe this text

[Assistant] You'll find out what that superpower is when you win it.


[User] Please transcribe this text

[Assistant] Crackers crispy, all the flavours are good, the saltiness of the creme fraiche is fantastic.


[User] Please transcribe this text

[Assistant] I think you could have done so much with peas and prawns. Thanks guys.