The Akaike Information Criterion (AIC), Bayesian Information Criterion (BIC), and the Deviance Information Criterion (DIC) are perhaps the most widely-used information criteria (IC) in model building and selection. A fourth, Minimum Description Length (MDL), is closely related to the BIC. In a nutshell, they provide guidance as which alternative model provides the most "bang for buck," i.e., the best fit after penalizing for model complexity. Penalizing for complexity is important since, given candidate models of similar predictive or explanatory power, the simplest model is most likely to be the best choice. In line with Occam's razor, complex models sometimes perform poorly on data not used in the model building. There are several others, including AIC3, SABIC, and CAIC, and no clear consensus among authorities as far as I am aware as to which is "best" overall. IC will not necessarily agree on which model should be chosen. Cross-validation, Predicted Residual Error Sum of Squares (PRESS) statistic, a kind of cross-validation, and Mallows’ Cp are also used instead of IC. Information criteria are covered in varying levels in detail in most statistics textbooks and are the subject of numerous academic papers. I know of no single go-to source on this topic.
The Akaike Information Criterion (AIC), Bayesian Information Criterion (BIC), and the Deviance Information Criterion (DIC) are perhaps the most widely-used information criteria (IC) in model building and selection. A fourth, Minimum Description Length (MDL), is closely related to the BIC. In a nutshell, they provide guidance as which alternative model provides the most "bang for buck," i.e., the best fit after penalizing for model complexity. Penalizing for complexity is important since, given candidate models of similar predictive or explanatory power, the simplest model is most likely to be the best choice. In line with Occam's razor, complex models sometimes perform poorly on data not used in the model building. There are several others, including AIC3, SABIC, and CAIC, and no clear consensus among authorities as far as I am aware as to which is "best" overall. IC will not necessarily agree on which model should be chosen. Cross-validation, Predicted Residual Error Sum of Squares (PRESS) statistic, a kind of cross-validation, and Mallows’ Cp are also used instead of IC. Information criteria are covered in varying levels in detail in most statistics textbooks and are the subject of numerous academic papers. I know of no single go-to source on this topic.
Secure video calling is in high demand. As an alternative to Zoom, many people are using end-to-end encrypted apps such as WhatsApp, FaceTime or Signal to speak to friends and family face-to-face since coronavirus lockdowns started to take place across the world. There’s another option—secure communications app Telegram just added video calling to its feature set, available on both iOS and Android. The new feature is also super secure—like Signal and WhatsApp and unlike Zoom (yet), video calls will be end-to-end encrypted.
Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
