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Technology

How to Estimate Distance Using Just Your Thumb

How to Estimate Distance Using Just Your Thumb

One of the most frustrating hobbies I ever took up was archery, but not because it’s hard to hit a target on the wall (it is, but I got pretty good at that). My problem was that one of the popular ways to go out and have fun with archery was to do “3D shoots,” where you would have to shoot at a series of statues of animals, each positioned at an unknown distance.

Estimating distance turned out to be my downfall. If you don’t have a good sense of how far away the fake deer is, you’ll end up shooting way over its back or burying your arrow under the ground beneath its feet. At the time, I assumed that estimating distance was less a learnable skill and more a gut feeling. Hence my surprise when I recently came across a quick eyeball-and-mental-maths trick that allows anyone to estimate distance pretty accurately.

The technique involves some gut-level estimation, but a much easier type. Then you just multiply by 10. Here’s how it works:

  1. Hold your thumb in front of you (with your arm fully outstretched), and close one eye. Line up your thumb with an object whose size you have some sense of (for example, a car).
  2. Without moving your thumb, close your open eye, and open the other one. Your thumb will appear to be in a different place.
  3. Estimate how far your thumb “moved” relative to the object you’re looking at. For example, a car is about 4.57 m long, so if your thumb moved half a car length, that’s about 2.29 m.
  4. Multiply by 10. In this example, you’d calculate that the car is about 22.86 m away from you.

Too good to be true? I walked around and tried it out. I also carried a laser distance-finder and a tape measure with me to verify. One thing I noticed right away is that I was tempted to measure the space in between my two thumb images; instead, you need to measure from, say, the left side of the first thumb image to the left side of the second thumb image.

Standing in the kitchen, eyeballing the TV in the other room, I figured the TV was somewhere between 3 and 1.22 m wide, and that my thumb moved a little more than half its distance, so about 0.61 m. Calculation: TV must be 6.10 m away. Laser level says: 7.62 m. OK, not bad.

From my desk to a nearby bookshelf, my thumb moved 6 inches, maybe a little more. Calculation: 60ish inches. Actual measurement: 59 inches.

From a spot in my driveway to a garden shed: I turned my head and sideways to measure against the height of the door. Thumb distance should be about 6 feet (most of the height of the door), thus the shed must be 18.29 m away. Actual measurement: around 21.34 m. Not perfect, but once again, not too far off.

The reason this trick is supposed to work is that the distance from your eye to your thumb is about 10 times the distance from one eye to the other. I measured this, too. Looking into the mirror with a measuring tape in front of my face, my pupils are 2 and 5/16″ apart, or 2.3 inches. The distance from the spot between my eyebrows to my outstretched thumb is 23.5 inches. That’s a factor of 10.2, impressively close to the 10 I was promised.

Bottom line: This trick isn’t going to give you a precise distance, but as a tool for estimating, it actually kind of works! And by the way, if you ever need to estimate how far away a deer-shaped statue is: a deer’s body length is roughly 1.52 m.

Categories
Sports

Commonwealth Games 2022 medal tally: Ariarne Titmus wins 400m gold and Brandon Starc takes high jump silver

A gold and bronze medallist pose for photos after winning their event

Australia leads the medal tally with 46 gold medals as the Commonwealth Games swimming program concludes at the end of day six of the competition.

Tomorrow, attention turns to track and field and team sports.

  • Gold: 46
  • Silver: 38
  • Bronze: 39
  • Total: 123

You can check out how the latest batch of medals were won in our Commonwealth Games blog, or have a look at the medal winners and the top 10 medal standings by country below:

Day 6 medal winners:

Gold:

  • Evan O’Hanlon, athletics, T37/38 100m
  • Kaylee McKeown, Chelsea Hodges, Emma McKeon and Mollie O’Callaghan, swimming, 4×100 medley relay
  • Ariarne Titmus, swimming, 400m freestyle
  • Sam Short, swimming, 1,500m freestyle

Silver:

  • Brandon Starc, athletics, high jump
  • Bradley Woodward, Zac Stubblety-Cook, Matt Temple and Kyle Chalmers, swimming, 4X100 medley relay
  • Mollie O’Callaghan, swimming, 50m backstroke
  • Benjamin Hance, swimming, S14 200m freestyle
  • Cheryl Lindfield and Serena Bonnell, lawn bowls, B6-B8 women’s pair
  • Zoe Cuthbert, cycling, cross-country mountain biking

Bronze:

  • Kiah Melverton, swimming, 400m freestyle
  • Harry Cassar, judo, -90kg
  • Abigail Paduch, judo, +78kg
  • Liam Park, judo, +100kg
  • Kaylee McKeown, swimming, backstroke
  • Jack Ireland, swimming, S14 200m freestyle
  • Charisma Amoe Tarrant, weightlifting, 87kg+

Birmingham 2022 medal tally:

POSITION

TEAM

gold

SILVER

BRONZE

TOTAL

1

Australia

46

38

39

123

two

England

38

37

28

103

3

Canada

16

twenty

twenty-one

57

4

new zealand

16

10

10

36

5

Scotland

7

8

17

32

6

south africa

6

7

7

twenty

7

India

5

6

7

18

8

wales

4

4

9

17

9

Malaysian

3

two

3

8

10

Nigeria

3

1

4

8

posted , updated

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Categories
Australia

Farmers digging into the eco-friendly powers of dung beetles in far north Queensland

Two men study a clod of earth in a paddock while cattle look on curiously.

A passing observer might think the cattle and dairy farmers of far north Queensland have been having very strangely by digging through their paddocks — elbows deep in cattle dung.

They are on the hunt for an insect that has one of the most unappealing and yet important jobs in the world: eating animal droppings.

Their search comes as soaring fertilizer prices and workforce shortages across Australia accelerate a movement towards natural, non-labor intensive alternatives.

The humble dung beetle offers a real solution.

It recycles effluent waste into organic fertilizer, eradicates flies, aerates the soil and increases water penetration — all while cheerfully munching on dung and asking nothing in return.

Close-up of two large black dung beetles on the palm of a hand.
Onitis vanderkellen dung beetles are abundant at cattle and dairy properties in the region.(Rural ABC: Tanya Murphy)

Beetles that specialize in eating cattle dung have been studied and bred extensively in both southern Queensland and southern states since they were introduced by the CSIRO in the 1970s.

But until now, there have not been any comprehensive long-term studies on how to breed and propagate species suited to northern Australia.

Some 15 farmers in far north Queensland have rolled up their sleeves to find out just what is living in the cow pats on their fields.

Cattle dung ‘attracts flies’

Among the participants is Gail Abernethy, who runs a small herd of cattle at a 36-hectare property at Wondecla on the Atherton Tablelands with her husband Victor.

A woman with a hat and sunglasses stands in a paddock holding a shovel in one hand and a dung beetle in the other.
Gail Abernethy participates in dung beetle collection at her cattle farm in Wondecla.(Rural ABC: Tanya Murphy)

She said she wanted to increase the population of dung beetles in the region, not only to reduce pasture fouling and fly outbreaks, but also to benefit productivity and the environment.

“There are native dung beetles, but they eat marsupial dung, so before the CSIRO back in the 70s and 80s introduced dung beetles from overseas, there was a lot of dung on the ground because it wasn’t being processed,” Ms Abernethy said .

“Cattle dung attracts flies, and that’s why the Australians had the fly salute, and had corks on their hats because there were so many flies.”

Ms Abernethy said dung beetles took the manure and buried it, which improved soil quality and created aeration of the soil, “so you’ve got less run-off from rainwater.”

“But there’s so little research and development being done in northern Australia, where all the cattle live,” she said.

A dung beetle for every season

Ms Abernethy began ordering dung beetles from southern breeders in 2014, but soon realized there was very little information about what species survived well in northern Australia at different times of year.

She and 14 other farmers obtained a Landcare grant to undertake their own research — and they have not been afraid to get their hands dirty.

“You take your shovel and you find a cow pat that’s at least 24 hours old, and put it in your bucket with some soil, and then empty some water into it, and they will float to the top in a graceful style,” Ms Abernethy said.

“We have collected beetles once a month for 12 months, and we now know we have nine separate species of introduced dung beetles and four predatory species.

“They’re the smaller ones who eat the fly larvae … and some of our beetles don’t live down south. They’re just up here in the tropics.”

Creating plant nutrients

South Australia’s Dr Bernard Doube is among the world’s leading dung beetle ecologists and is helping the group with beetle identification.

A man with a hat, gray beard and glasses kneels in a paddock using a stick to dissect a pile of dung.
Dr Bernard Doube is helping Far North Queensland farmers with dung beetle identification.(Rural ABC: Tanya Murphy)

He said the study had revealed a particularly abundant population of one species of dung beetle, Onitis vanderkelleniwhich was thriving in the Atherton Tablelands.

“It’s got a very restricted distribution up here and hardly anywhere else in Australia, but up here, it’s doing a great job,” Dr Doube said.

“It digs a tunnel to about 20 centimetres and lines the tunnel with dung … and down below, the beetle puts perhaps half a liter of dung, a huge amount really, and lays a whole [lot] of eggs in it.

“The eggs hatch into larvae, and the larvae eat all of the dung, and then [produce] all this processed stuff, which is rather like compost.”

Dr Doube said it created a “great big pile of plant nutrients”.

“The roots grow down there, and you get increased production and increased carbon storage because it’s a relatively permanent change in the structure of the soil,” he said.

“And our experiences from southern Australia indicate that we get about a 30 per cent increase in productivity due to the dung burial activity of the beetles.”

A close up of a small pale grub in a nest of dung
Onitis vanderkelleni larvae nest in dung at a property on the Atherton Tablelands.(Supplied: Louise Gavin)

Importantly, Dr Doube said the study had also revealed a gap in the winter population of dung beetles.

“What this project has shown is that we have quite a diversity of beetles here, and they are active during the summer,” he said.

“But at this time of the year in autumn and winter, although there are some beetles present and they’re burying dung, they’re not very common.”

Dr Doube said the group would now seek further funding to import and breed a species of beetle called Onitis caffer, which was more active during autumn and spring.

“We hope that we can get some financial support to establish a dung beetle importation program again, bringing in this particular beetle, which is going to be most beneficial, in my view,” he said.

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Categories
US

When severe storms could bring damaging winds, flooding, hail, tornadoes to Metro Detroit

When severe storms could bring damaging winds, flooding, hail, tornadoes to Metro Detroit

DETROIT – A severe thunderstorm watch is in effect for Genesee, Lapeer, Lenawee, Livingston, Macomb, Monroe, Oakland, Sanilac, St. Clair, Washtenaw, and Wayne counties.

We’re topping out in the 90s Wednesday afternoon, but with high dew points, it’s going to feel like triple digits.

Some relief is in store the next few days, but not much, as it’s still going to be somewhat muggy. It just won’t be as hot, with highs back in the 80s to near 90 by Saturday.

Strong storms rest of Wednesday

  • Tracking storms to our north and west this afternoon. This activity moves through later this afternoon and this evening.

  • 5 pm to 10 pm is the window for these storms to move through, west to east.

  • Severe weather is very possible, as just about all of Southeast Michigan is under a slight risk (level 2 of 5).

  • Main concern will be strong damaging winds, but isolated flooding due to heavy downpours is also something to keep an eye out for.

  • Hail and tornadoes are lower on the threat scale, but still there. These storms are also likely to produce a lot of lightning.

  • The storm threat comes to an end before midnight, but a few showers will likely linger at times during the overnight.

Rain/storm chance Thursday

  • A few showers will be around at times on Thursday, but by no means are we talking about a wash-out.

  • During the afternoon Thursday, enough instability will build back up to try and produce a few more spotty storms. Not widespread like what we get this evening, nor will they be as strong, but there will likely be a couple across the area.

Weekend forecast

  • Friday and Saturday still look mainly dry, with perhaps the slight chance for a few isolated pop-up showers (most staying dry though).

  • Sunday’s timing may be tweaked a bit as long range models differ on when that next system arrives. Right now keeping chances in there later Sunday into Monday.

Remember to download the FREE Local4Casters weather app — it’s easily one of the best in the nation. Just search your app store under WDIV and it’s right there available for both iPhones and Androids! Or click the appropriate link below.

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Categories
Business

Rising interest rates set to push property prices lower even in areas so far immune

Rising interest rates set to push property prices lower even in areas so far immune

“NSW definitely hit its affordability ceiling earlier,” she said. “It had always been leading in terms of growth… they’ve galloped towards the finishing line faster, and have now gone past it.

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“Each market has a ceiling … Melbourne is very close to that ceiling, inner Melbourne has gone past it, but regional Victoria is still building up to it.”

She added that while areas of Greater Melbourne had recorded price drops, some pockets were still growing.

The stage of the property cycle in each market was determined by assessing annual growth for the year to June, compared to the previous year, and anecdotal evidence from real estate agents about supply and demand in their local market. Housing data from other sources like property analytics company CoreLogic, were also factored in.

But given how quickly the cash rate was rising, more resilient markets were likely to move into a downturn in the months to come as changes to interest rates typically affected slower markets within three to six months.

Starr Partners chief executive Douglas Driscoll said Sydney buyers and sellers were holding back amid speculation of further rate rises and continued price falls, and those pushing ahead were increasingly looking for a bargain.

Prices in some markets are just hitting their peak, while others still look poised for more growth.

Prices in some markets are just hitting their peak, while others still look poised for more growth.Credit:Peter Rae

“They’ll come to us and try to play hardball on price … and cite various sources that we’re not at the bottom of the market yet, and that the home that they’re looking at will be less in three months’ time ,” he said.

“Undeniably the pendulum has swung and it’s now become a “buyers’ market” or that’s certainly the way buyers perceive it, the truth is we’re somewhere in between.”

Driscoll said price declines across his western Sydney markets were approaching 10 per cent on average, but he did not think there was “a huge amount” left for the downturn. Uncertainty was making buyers wary, and once the dust settled on rate hikes, he expected the market would bounce back quite firmly.

For now, necessity sales, driven by deaths, debt, divorce and downsizing, were driving the market, he said. And while competition for homes had dropped off, genuine buyers were still there.

Ray White Victoria and Tasmania chief executive Stephen Dullens said Melbourne had seen a later shift, as residual demand after multiple lockdowns had propped up the market.

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Prices achieved across Ray White’s Melbourne office last month were down about 12 per cent year-on-year, he said, and he had heard of more drastic declines in the inner suburbs. The huge push to regional areas had also eased, slowing price growth.

Dullens said rising interest rates had decreased demand, with most buyers already pricing in future rate hikes. However, he felt the return of a traditionally quieter winter market was also having an effect on prices.

In Tasmania, prices were still strong, but the market frenzy had subsided, he said. Meanwhile, prices in Adelaide were going wild, with Ray White offices there now seeing the strongest price growth in the country.

Categories
Technology

Nintendo’s Latest Switch Move Shows They’re Chasing More Than Just Million-Dollar Profits

Nintendo's Latest Switch Move Shows They're Chasing More Than Just Million-Dollar Profits

Japan is currently witnessing an adverse situation when it comes to unfavorable economic factors. The national currency Yen has seen a dip in the last few days and the value has gone down a lot. As a result, many renowned companies have raised prices on their devices. However, gaming giant Nintendo is proving to be a complete exception to this growing trend.

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Nintendo has yet again delighted many fans in Japan by its recent stance on the falling Yen value and inflation. Despite the unwanted scenarios, the company has no plans to shoot the cost on its console in the Asian nation. Well, that is a commendable step, at least from the perspective of fans. Because not everyone has a huge budget these days to purchase a highly-priced gaming device.

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Nintendo decides to not raise console prices for the Japanese fans despite a falling Yen

As reported by VGC, the economic factors in Japan have forced various brands to increase the cost of their products. For example, Apple’s iPhones are currently 25 percent more expensive in the country, year-on-year.

Interestingly, though, none of the console makers have escalated the prices for their products despite the inflation. Simply put, the gaming consoles are approximately $100 cheaper in Japan, based on the conversion against the US dollar.

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Nintendo Switch vs Steam Deck: How the Japanese Giant Could Finally Face Real Competition In 2022

6 months ago

Going by what VGC reported in its piece, media outlet Bloomberg had asked three gaming giants if they planned to increase console prices in Japan. Microsoft had declined to comment while Sony had refused to provide any kind of clear response to this question. On the other hand, Nintendo replied by mentioning it has “no plans” to make the consoles expensive.

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All things considered, it’s a positive approach by the Mario maker. Especially from the perspective of gamers themselves. Those who are not into buying consoles more frequently and are restrained by a tight budget can take a breath of relief for now. They can go for the Switch or other Nintendo devices without having to pay an extremely higher price than usual.

Meanwhile, Nintendo is set to reveal more new games for the Switch in the remaining half of 2022. There are multiple awaited projects lined up to make their debuts in the coming months. To name a few of them, there’s Splatoon 3, Bayonetta 3, and Mario+Rabbids Sparks of Hope.

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Not to forget the new Pokemon entry as well, in the form of Scarlet and Violet. It will be the first title in the ninth generation of the Pokemon video game franchise.

WATCH THIS STORY: Ranking The Highest Selling Nintendo Games of All Time

Categories
Sports

Tahlia McGrath averages 169.5 with the bat and 11 with the ball

Tahlia McGrath averages 169.5 with the bat and 11 with the ball

“I started my international career and was probably pigeonholed as a 50-over player purely because my strike rate wasn’t near where it needed to be,” McGrath said. “That was a massive focus for me. to be [striking] at 150, I don’t know how long I’ll keep it there, but I’ll try my best.”

Under blue skies at Edgbaston, McGrath and Beth Mooney (70 not out from 49 balls) helped Australia recover from 2-19, after the early wickets of Alyssa Healy (4) and Meg Lanning (4), by plundering an unbeaten 141-run booth.

It was the highest third-wicket partnership ever by the Australians in T20s, eclipsing McGrath and Lanning’s 135-run stand last month against Ireland. The 141-run partnership was also the fourth-highest ever, for any wicket, by Australia in the shortest format.

McGrath and Mooney used their crease cleverly and showed brute force square of the wicket as Pakistan’s bowlers struggled to stem the flow of runs on a quick outfield. Australia scored 102 runs from their final 10 overs.

In response, Pakistan lost two wickets inside two overs and didn’t recover. They were 8-116 at the end of their 20 overs, with McGrath snaring 3-13 from three overs to bring her career average down from an already brilliant 13.85 to 11 on the dot.

Omaima Sohail is bowled by Alana King.

Omaima Sohail is bowled by Alana King.Credit:Getty

“The game can be taken away from you like we saw today with Tahlia coming in,” Mooney said. “She played an unbelievable innings. She seems really clear on her role in the team.”

The win was Australia’s third in a row, but it’ll mean nothing without another A-grade performance on Saturday.

“Moving into finals all the work we’ve done in the round games is irrelevant,” McGrath said. “Everyone starts from scratch. It’s knockout. In saying that, we take a lot of confidence and momentum.”

Mooney added: “Pressure is a bit of a privilege in my eyes. There’s certainly no amount of pressure that’s more than what we put on ourselves to perform day in and day out.

“The challenge that awaits us is really exciting. Semi-finals are sometimes harder than finals. You have to be on your game from ball one.

“You want a spot in that gold medal match. We know on our best day we can beat anyone.”

News, results and expert analysis from the weekend of sport sent every Monday. Sign up for our Sport newsletter.

Categories
Australia

Canberra drug dealer alleges he was shot three times due to rumors he was a ‘kiddie fiddler’

Canberra drug dealer alleges he was shot three times due to rumors he was a 'kiddie fiddler'

A Canberra drug dealer who was shot in the face during a home invasion last year says he was targeted by people who thought he was a paedophile.

The ACT Supreme Court has heard the man had been accused of being a “kiddie fiddler” before being shot three times at a home in Spence in Canberra’s north on March 11, 2021.

The man said he had been at a friend’s house in the early hours of the morning after “catching up with people for drug deals.”

He said Sugimatatihuna Bernard Gabriel Mena, 24, Bradley Joe Roberts, 24, and Rebecca Dulcie Parlov, 25, had then all stormed his friend’s home to “whack” him.

Mr Mena has been charged with attempted murder while Mr Roberts and Ms Parlov were each charged with aggravated burglary.

They have all pleaded not guilty.

The man told the court he had armed himself with a knife for protection and had been prepared to “knuckle on” with the trio when they appeared at the home.

“I was going to stab them,” he said, before adding that he at no point used or attempted to use the knife on any of the three.

He alleged it was Mr Mena who had pulled the trigger, shooting him three times and injuring his face, stomach and arm.

He also told the court Mr Mena, Mr Roberts, and Ms Parlov were all known to him through his drug deals.

Once wounded, the man said he had retreated to the bathroom to call a friend to drive him to Calvary Hospital’s emergency department.

The friend he had called was Ms Parlov’s brother.

Defense says finger was wrongly pointed

During cross examination, defense barristers showed the court text message conversations between the victim and his partner at the time.

The messages showed the man had asked the woman for $750, telling her he had to pay off bikes otherwise they would harm him.

The defense put to the man that the reason he presented to the hospital instead of calling police when he was shot was that he was “frightened of the bikies.”

“No, I don’t like police,” the man replied.

He then confessed that the messages he had sent to his ex-partner had been lies.

“I made up whatever I wanted to get the money out of her because I’m a fiend,” he said.

“I was a druggo… I lied to her.”

The defense also put to the victim that he had falsely accused Mr Mena of being the gunman as it was easier than having to point the finger elsewhere.

But the man said: “No, I saw him do it … I saw him come through the door”, referring to Mr Mena.

The trial is set to run for seven days.

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Categories
US

Biden to sign executive order to help patients travel for abortions

Biden to sign executive order to help patients travel for abortions

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President Biden signed an executive order Wednesday directing his health secretary to consider actions to assist patients traveling out of state for abortions.

The order’s travel-related provision calls on Health and Human Services Secretary Xavier Becerra to consider inviting states to apply for Medicaid waivers when treating patients who cross state lines for reproductive health services.

President Biden signed an executive order on Aug. 3 designed to help patients travel for abortions. (Video: The White House)

The executive order, the second Biden has signed on reproductive health since the Supreme Court overturned Roe v. Wade, follows the administration’s call for the Department of Health and Human Services to explore all options to support Americans who live in states that have severely limited abortion access. The president’s actions came a day after Kansas voters rejected an effort to strip away their state’s abortion protections.

“[Republicans] don’t have a clue about the power of American women,” Biden said Wednesday before signing the order. “Last night in Kansas, they found out.”

In the aftermath of the Supreme Court decision, Biden and Attorney General Merrick Garland both vowed to protect Americans’ ability to cross state lines to seek abortions and other reproductive health services.

Biden, who is isolating because he continues to test positive for the coronavirus, signed the executive order ahead of Vice President Harris’s first meeting of an interagency task force on reproductive health access. The president joined the meeting virtually.

Two long weeks: Inside Biden’s struggle to respond to abortion ruling

The executive order also directs Becerra to consider actions to ensure health-care providers comply with federal nondiscrimination laws to ensure women receive medically necessary care, which could include providing technical assistance for providers confused about their obligations following the Supreme Court’s decision.

Finally, the order calls on Becerra to improve research and data collection on maternal health outcomes.

In early July, Biden signed an executive order that directed Becerra to identify ways the administration can help expand abortion access and signaled his intention to protect access to medication abortion, or abortion pills.

Biden referred last month to what he called “the Supreme Court’s terrible, extreme and, I think, so totally wrongheaded decision.”

He added: “The court has made clear it will not protect the rights of women — period. Period. After having made the decision based on a reading of a document that was frozen in time in the 1860s when women didn’t even have the right to vote, the court now practically dares the women of America to go to the ballot box and restore the very rights they’ve just taken away.”

But many activists have criticized Biden for responding too slowly to the decision, especially given that a draft opinion leaked weeks before the official decision. Activists and some Democratic members of Congress have called on the administration to declare abortion access to a public health emergency.

In some states, women who need medical care for miscarriages are getting delayed care or denied it completely given confusion over the laws, putting some women’s lives in danger.

A group of more than 80 Democratic House lawmakers sent a letter to Biden and Becerra last month urging them to make abortion a public health emergency. But the White House has reservations about the move because it would provide little in extra funds and would be likely to end up in the Supreme Court, which could use the case to curb the federal government’s emergency powers.

Yasmeen Abutaleb contributed to this report.

Categories
Business

Now Finance is the non-bank lender bracing for a ‘shakeout’

Now Finance is the non-bank lender bracing for a 'shakeout'

“There’s no doubt that some of those players did list too prematurely, and you’ve got to question what the next step for them looks like.”

But what dismays Blumberg is the lack of institutional support for what he sees as a vital sector of the economy.

“I’m not sure how long it takes the market to recover. I don’t think it’s a quick fix. But I don’t think structurally and strategically that’s good for the sector and for Australia. We just don’t want to go back to the concentration we’ve had previously. You want to see a successful and growing non-bank lending sector.”

‘Some pain… is a good thing’

But Blumberg is also realistic about what’s coming. Those non-bank lenders who have aggressively pursued growth in recent years at the expense of profitability will probably be squeezed as funding becomes more expensive and less plentiful.

“I do think there will be some players in the market that experience some pain in their books and in their margins. And I think that’s a good thing, too. I think it’s important that we have a shakeout.”

Blumberg wants to be on the right side of that.

Now, which specializes in fee-free personal loans to prime or near-prime borrowers, was founded in 2013 and supported by Farrel Meltzer’s Wingate Group, before being spun out to its underlying investors late last year. Blumberg says the business has been profitable since 2017 and conservative in the way it has grown; Although credit inquiries dropped across the sector last month, he says he is not seeing bad debts rise.

“We haven’t seen any issues with delinquencies in arrears. I think the fact that we have full employment is an important consideration.”

Last month, Now tapped debt markets and raised $200 million through the sale of new asset-backed securities. Although Blumberg says credit spreads have widened and liquidity softened since Now was last in the market in September last year, the company’s raising was completed very quickly.

Blumberg is now raising equity to further support Now’s expansion into the auto loans market, which is set for next month. The banks aren’t as active in this market as they were, and Blumberg believes that with pricing of auto loans more rational, there is room for Now’s fee-free product offering.

The auto loan expansion is part of Blumberg’s bigger plan to double Now’s loan book to $1 billion, which he sees as the sweet spot for a niche lender in Australia. The coming shakeout among non-bank leaders might present Now with opportunities.

“To the extent there is distress – and there will be – we are keen to take a look at that and see what opportunities there are to buy into businesses and to buy loan books.”