The State Changers in this meeting revolving around the creation and operation of a significant financial function. The main function discussed is one that calculates various changes and ending balances when a tranche, a financial instrument, is issued. The function deals with variables such as face balance, amount issued, interest payments, conversion rates, cash sweep, and more.
A key focus of the meeting was the concept of the cash sweep. The State Changers pondered whether to break the function into parts or keep it consolidated, and how to handle rerunning the same or similar functions for calculating different components such as the sweep. The meeting further delved into whether to consider the sweep as part of the same period's calculations and how to handle the true ending balance after taking the cash sweep into account. The State Changers also discussed conceptualizing how the function and its components operate and interact with each other, using the analogy of nouns (data) and verbs (functions). The significant part is the acknowledgment of complexities and unknowns in their work, especially when dealing with the sweep and other financial instruments such as the revolver. The importance of the iterative process of development, learning, and reevaluation was also emphasized. There was no explicit mention of the specific keywords, including technologies like "Xano", "WeWeb", "Zapier", among others.
(Source: Office Hours 9/19/2023 )
