Singer/songwriters Avi Kaplan and Joy Williams speak to Atwood Magazine about collaborating on their new song All Is Well, the power of music, and how departure is really expansion.follow our Todays Song(s) playlist

Sometimes a song follows you around. When youre cooking and suddenly the words start coming through in whispers or when youre out and all you can hear is the opening chords amongst the noise of the cars, you know youve stumbled onto something magical.

All Is Well was released on 15th February and is the second single from Avi Kaplans upcoming album Floating On A Dream (May 20th, 2022 via Fantasy Records). The song is a collaboration with the Grammy Award Winning singer-songwriter Joy Williams.

All Is Well is exquisitely beautiful. The harmonies Kaplan and Williams create together are heavenly and the whole song feels like a dreamy mantra. A place to retreat, rebuild and renew yourself.

Kaplan and Williams spoke to Atwood Magazine about collaborating on All Is Well, the power of music, and how departure is really expansion.

Atwood Magazine: I wanted to primarily talk about the song All Is Well that you co-wrote together, dig deep into the songwriting process but also talk about your album Floating On a Dream. Did you two know each other before you went into write together?

Avi Kaplan: I didnt know Joy [Williams] well, but I had met her in passing at an industry party that was happening, I think it was after some award show. I was a really big fan of hers and I was introduced to her, and she was so kind and so sweet and just a really great human and so I knew her a little bit from there. Then we got connected to write together and had got to know her much better since then.

Joy Williams: Avi and I had met at music events over the years Grammy parties, backstage at showsbut the first time I feel like I trulymetAvi was the day we wrote for the very first time.

We met up at my producer friends studio in Nashville, and Ill never forget Avis dark beard and warm baritone voice resonating in the room. Avi brings such a gentle gravity to any room hes in, and we talked everything from our mutual love of harmonizing to both of us growing up in CA. It was like Id stumbled upon a long-lost buddy, who also just happened to have a guitar on hand.

Avi, what would you say what is your usual writing process? Do you usually write alone or do you tend to write more with others?

Avi Kaplan: I do both. Nashville is very much a writing city, and I wasnt used to that but since moving out here, I really wanted to just try to stretch my boundaries and start writing with other people because it is so much part of the culture here. I would say with this album, its more writing with other people. There are some songs that I wrote by myself which I then brought to a friend to smooth out a little bit, but this this album was very collaborative, and I think in the future Ill continue do both because I really enjoy doing both.

Writing with others obviously changes the output of your art but does it feel less personal when it's written that way, or do you tend to only write with people that you feel you have a connection with?

Avi Kaplan: Yeah exactly. I write with a lot of people, and I write a lot of songs and the ones that dont feel personal I dont use, I dont release. Ive started to kind of refine who Ive been writing with so really any song that I write, it has to feel like its coming from me or else I dont feel right about releasing it. It really, really has to feel like me and I think that when you write with other people it helps with creating maybe a vibe that that you wouldnt necessarily create on your own but still has the essence, the lyricism that I have, my melodic tendencies but maybe it is just a different feel, different chords, different instrumentation, maybe a different perspective, so its all is all based around feeling like a song that is very personal to me.

Do you notice a departure in your writing from previous projects to this one? Like you said, you moved to Nashville and you started doing more co-writing than maybe you had previously.

Avi Kaplan: I think its always expanding. I think that if you listen to my old stuff and you listen to this stuff, you will hear a through line for sure, but I think its always expanding. I think writing with other people has helped me expand into new areas, new realms that I love to write in.

I feel like Ive tried to write all my stuff in a pretty eclectic way and do a lot of different things, so that it doesnt feel like when I do go in different directions it doesnt necessarily feel like its huge departure. When you listen to Floating On A Dream it all feels like the same record but it goes to a lot of different realms.

Fans and critics get quite precious about an artist and their artistry when they feel like an album or a song is a massive departure from an artists previous work, when in fact it's, as you say, maybe more of an expansion. Have you found this when releasing new music?

Avi Kaplan: Exactly, and thats why Ive intentionally tried to have everything be pretty in eclectic so Im not totally fenced into one sound because I love to make a lot of different sounds. I love to sing in a lot of different types of ways. I love to write music and compose in many different genres and all of those things, so I always want to be able to be able to stretch out musically because I love to do so many different styles. Its also a fun challenge to try to have there be a through line in all the different types of things that I like to do. I always want there be extent expansion and growth.

When you wrote All Is Well together did either of you go to the writing session with voice notes or lyrics or music or did it just happen very organically from the conversation?

Avi Kaplan: It definitely happened organically. Honestly, usually when I go into write I dont like to have anything planned because I feel like theres an energy in the room and theres an energy between the people and know sometimes you can capture it in a song and sometimes you dont.

I am so happy with the song that we caught that day. It just kind of floated down which happens when you when you write some songs, you know. I just kind of started playing the guitar part and I sang some melodies, and she [Joy Williams] really dug it and then we started going back and forth on lyrics. We finished a very large portion, I would say 90% of it that day, and did a cool demo, and then really all we did was just like tweak some lyrics afterwards on the bridge but everything else stayed. It was a beautiful writing experience. One of those songs that kind of just falls out of the sky.

Joy Williams: All Is Well almost revealed itself line by line to us instead of us writing it. It was steady and slow, unfolding. Like a gift. And since we both love the magic that happens when you meld two voices together, we naturally sang the song in tandem as we went along writing. We didnt ever discuss it being a duet when we left the studio that day. That came later. When Avi went in the studio with Shooter [Jennings], I got word later that Avi was wondering if Id sing on it with him. It was easy to say yes to my friend like that.

When I have spoken to other artists, they have said I have to come to writing sessions with ideas because I feel like if I don't have ideas then what if we don't have anything to write about, but it sounds like you're saying, you came to it with nothing.

Avi Kaplan: Yeah absolutely. No preconceptions of what I wanted to write about. I honestly feel like that kind of boxes me in. I dont want to be set on something. I want to come in with an open mind and an open heart with the person that Im writing with. Or if its by myself just kind of see what comes out of you. I really believe that songs are given and so I like to come and receive whatever it is given.

Listening back to the song, do either of you now see or hear things in the song that you maybe werent consciously aware of when writing it?

Avi Kaplan: I think that with this one specifically, we did have some things in mind when we were writing in it. Its always important to me to write something thats very personal to me but present it in a way that is open ended and not so specific so that other people can put their own stories to it. So thats what happened with this one.

I feel like we were pretty intentional about the lyrics, but they did they definitely did morph and change overtime. We wrote the initial draft of it and all the melodies and all the chords, really the whole arrangement all stayed but some of the lyrics were tweaked at the end and I feel like it really came together as something that is very personal to me and also, like I said, presented in a way where it is open ended enough to for people to be able to put their own stories to it, which I think is really important. When I listen to music you know sometimes think, Man, this is exactly what I need to hear right now or exactly what Im going through and you know full well that that may not be what the artist meant exactly but thats how the words are getting me at that time, and its a beautiful experience and I want people to have that experience with my music.

I think there is something to be said for a song thats personal and very specific. I think that people love that type of music and I do songs in that way sometimes but with the song like All Is Well where it could essentially be taken as a mantra for someone thats really going through something, I like to really keep it open for those people that are needing that from of a song.

Joy Williams: Avi and I met up to write during the height of the pandemic, and I remember us both talking about creating something that spoke in the tones of overcoming and of hope.

All Is Well feels very similar to a lullaby. Would you agree?

Avi Kaplan: Absolutely. Its like the cross between like a lullaby and a hymn, and songs like that are comforting. Something thats very warm, and thats something that I really wanted to project. Whenever Joy and I write music, we say we want to try to bring that type of energy to the music because its important. Music is very powerful, and it can have a profound effect on people and thats genuinely what I want from my music.

The song has got a simplicity to it, in the music and in the lyrics, but theres also a lot of depth there. Theres a warmth to it that is very comforting and reassuring. I am finding you can often just repeat the lines in your head without necessarily having to listen to the music.

Avi Kaplan: The song just has a feeling to it and thats what I love about music is its like whatever type of song you create, you kind of create a world and an energy that it sits in and whomever listens to it, is automatically transported to that place or even just that feeling to make it a little less esoteric, but you know it just makes you feel a certain thing. That is one of the things I love about music is so powerful and I just makes me really happy that you felt that.

You said the arrangement on the demo track pretty much stayed the same. What did you add to the final recording?

Avi Kaplan: We added a pedal steel, some piano and a little bit of drum. Its a pretty simple track, theres not so much thats in it. Like I said, the arrangement didnt really change. The harmonies that we sang, we sang during the demo recording.

That was one of my favourite moments. I laid down the guitar track and then I sang the solo. Then Joy and I both went into the booth to sing on just one mic to sing the harmonies to my solo. Singing three-part harmony with Joy Williams and just singing harmony next to her in the way she sang everything and the dynamics and just her voice, it was just a really surreal experience for me to be able to sing with her because shes just so amazing at what she does and so sensitive and intentional as to what she does. It just felt immediately there was this energy to what we were doing and how we were singing together and how we were blending so really beautiful experience something Ill definitely never forget.

When I listen to Joys music or watch her on stage with other artists, shes always very collaborative. She seems to always be listening to the other person, watching what they're going to do, and then she adjusts depending on the other person.

Avi Kaplan: Absolutely. Shes an amazing musician. Shes an amazing vocalist but its her musicianship, its her musicality that really sticks out. She obviously has amazingly beautiful voice but having a beautiful voice is one thing and then being able to use that voice in the way that she does, so tastefully and collaboratively, its something that is really special about her.

How do you feel this song fits with the other songs on the album? And did you deliberately write it so it would it fit the overall theme and sound of the album?

Avi Kaplan: No, honestly with the songs on the album, I just chose the ones that I felt were the best songs and I knew that producing it in a certain way would help them all fit together and thats kind of the point of it for me. For me I wasnt necessarily worried about it fitting together with everything else but more, like I was saying before, the challenge of having eclectic songs fit together feels like its the same how do we say it? You know if you have the album, and you think of it as a large house or a castle. Its all in that same castle but each song is a different room, and that room could be decorated differently and there could be many rooms with a whole different vibe but its all a part of that big castle.

The music video that accompanies the song feels very complementary to the story youre telling. It fits so well with the texture of the song and the world you created. Did you come up with the idea for the music video or was it Bree Marie Fish, the videos director?

AK: It was a little bit of both. The person that did the video is someone that Ive worked with a lot. Bree has done all my photoshoots, so she already knows me pretty well. When I spoke to her about this this song, I just told her that I wanted it to be dark but hopeful and thats exactly what it is. It has this energy to it. I have to say when I watch videos that dont really make sense with the song, it doesnt really make sense to me. Obviously, I support whatever the artist wants to do. I know what its like to be an artist, so do whatever you want to do, but for my own art, I always wanted to reflect the energy of the song. I wanted it to be an accentuation of the energy of the song. A good visualisation of it was important to me so Im happy to hear you say that it was a good representation.

Is there a lyric or a line in the song that stands out to you?

Avi Kaplan: Its tough because I really do love the lyrics of this song. I think the first one that came to my mind The darkness in my mind was the path to set my spirit free and I think that is probably my favourite line in the song just because I think that its poignant for people that are going through darkness to really understand what thats about. To understand when youre going through something like that its actually just forcing you to grow and evolve into a better form of yourself and thats kind of the essence of that lyric is that the darkness in my mind was actually the way to set my spirit free, and when I say set my spirit free, it was to basically get away from that darkness, to feel better, to be on the other side of that.

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Interview: Digging Deep with Avi Kaplan & Joy Williams on All Is Well - Atwood Magazine

The ever-increasing complexity of industrial-scale machine learning models has stimulated research into automatic hyperparameter tuning methods to boost the efficiency and quality of machine learning applications. Although automatic hyperparameter tuning is now an important component of many data systems, the limited scalability of state-of-the-art methods has become a bottleneck.

To address this issue, a research team from Peking University, ETH Zrich and Kuaishou Technology has proposed Hyper-Tune, an efficient and robust distributed hyperparameter tuning framework that features system optimizations such as automatic resource allocation, asynchronous scheduling, and a multi-fidelity optimizer plug-in. In empirical evaluations, Hyper-Tune achieves state-of-the-art performance across a wide range of tuning tasks.

The team summarizes their main contributions as:

The proposed Hyper-Tune framework contains three core components: a resource allocator, an evaluation scheduler, and a generic optimizer.

To automatically determine the appropriate level of resource allocation and balance the precision vs. cost trade-off in partial evaluations, the researchers used a simple yet novel resource allocation method that searches for a good allocation via trial-and-error.

The evaluation scheduler meanwhile is designed to leverage parallel resources via D-ASHA a novel variant of the ASHA (Asynchronous Successive Halving Algorithm) hyperparameter optimization algorithm introduced by Li at. al. in 2020 to simultaneously satisfy synchronization efficiency and sample efficiency.

To create a flexible and convenient system architecture that supports the drop-in replacement of different optimizers under the async/synchronous parallel settings, the team employed a modular design that enables plugging in different hyperparameter tuning optimizers. They also adopted an algorithm-agnostic sampling framework to enable easy adaption of each optimizer algorithm to the asynchronous parallel scenarios.

In evaluation experiments on publicly available benchmark datasets and a large-scale real-world dataset, the proposed Hyper-Tune framework achieved strong anytime and converged performance and surpassed state-of-the-art methods on hyperparameter tuning scenarios that included XGBoost with nine hyperparameters, ResNet with six hyperparameters, LSTM with nine hyperparameters, and neural architectures with six hyperparameters. Hyper-Tune also achieved up to 11.2x and 5.1x speedups compared to the state-of-the-art methods BOHB and A-BOHB, respectively.

The paper Hyper-Tune: Towards Efficient Hyper-parameter Tuning at Scale is on arXiv.

Author: Hecate He |Editor: Michael Sarazen

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Meet Hyper-Tune: New SOTA Efficient Distributed Automatic ...

The studio has much to update us on. One of its recent endeavours, for instance, is a project entitled Not at Your Service: Manifestos for Design, created for Zurich University of the Arts. The project dissects the role of graphic design and the impact it has through the means of a publication, which is not conceived as a finished project, but as a fluid document of its time, Christoph tells Its Nice That. Inspired by old underground magazines, the team opted for a dynamic mix of text and imagery to accompany its sprawling though highly formulaic layouts. Not to mention its use wild combinations of typefaces and sizes, along with the addition of small, hand-drawn symbols and frames. Isabel continues to explain how they wanted to translate this subversive tone of the underground scene into the editorial format. So we came up with the idea of four differing layouts for the four main chapters, using different type sizes for each of them, getting smaller by each chapter. As such, the English texts are printed in red while German is in green at the end of each chapter; colour plays an imperative role as it dissects the difference between the quotes, essays and overall structure.

In other projects, the studio devised a website for the Bauhaus Foundation called Digital Atlas an interactive map of ideas, objects, styles and persons in relation to the educational side of Bauhaus. Users can deep-dive into the various art and design schools around the world to better understand the impact and migration of the ideas in relation to this prominent design movement. Another example is a publication named Elements, created during the residency at Jan van Eck Academie and edited with Jessica Gysel. Showcasing art and design exhibitions from the year 2021, the work involved addresses the Euregio cross-border region located between Germany and The Netherlands. We wanted to do a bit more than an exhibition catalogue and came up with the idea to make use of the four classical elements of water, earth, fire and air as a narrative threat for the publication, shares Christoph. These four elements were proposed to ancient cultures as a base to explain the nature and complexity of all matter and we wanted to look at the featured exhibitions through their lens.

Everything Offshore Studio works towards has this consistent level of cultural impact. Void of surface-deep concepts, the studios portfolio is littered with in-depth investigations into topics that really matter conceived through a playful mix use symbols, software and writing. Its all about figuring out how to translate certain ideas, concepts themes and spaces into a visual language that seems thematically appropriate, exciting and is capable of communicating specific information in an impactful and intriguing way.

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Offshore Studio returns with a mind-boggling lineup of unconventional graphic design projects - It's Nice That

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Farfetch (FTCH) has seen its shares left for dead. However, it's actually reporting a meaningful improvement in operations.

I go through and explain why I'd previously issued a sell recommendation only to see the stock fall 50% (including Friday's 40% pop) and why now, I'm reverting my assessment.

I contend that the focus of the story here will be on Farfetch's path towards profitability rapidly emerging.

Here's why I argue that investors would consider putting this stock on their watchlist.

On 14 May, I wrote to Deep Value Return members that they should sell Farfetch's stock. It was a really difficult call to make and it caused me a lot of anguish. The stock at the time was trading at near its lows over the previous 6 months, and there's nobody out there that likes to admit they made a terrible mistake.

I said then,

I should have been swifter on my feet to cash in earlier in February [2021]. But I can't deal with facts in the past. I have to take ownership here and be honest with myself and you.

The easiest option for me would be to bury my head in the sand and pretend that what's happening isn't happening. That would be the easy option. But I will not do that.

I believed that there was a strong likelihood that the stock would continue to implode further. And as you can see from the graph above, since that date, including the pop in the share price on Friday, the stock is still down 50%.

Then, in November, I published my point on the SA website saying ''I don't think it's worthwhile being invested in Farfetch.'' Since that point in November, the stock is down just over 40%, including Friday's pop.

Author's coverage of Farfetch

However, I now believe that the story is starting to change.

Farfetch revenue growth rates

Farfetch doesn't provide investors with guidance for the year ahead. What it does provide is Gross Merchandise Value (''GMV''). Over the past 2 years, GMV translates into revenues at very approximately 53% for both 2020 and 2021 periods.

This implies the following estimates for 2022:

On a revenue estimate, this could translate into somewhere near $2.8 billion in 2022. My estimates for Farfetch's revenues are ever-so-slightly lower than what analysts estimate, at closer to $2.9 billion in revenues, but perhaps not overly meaningful in the grand scheme of things?

Nevertheless, it appears that both according to my own estimates, as well as, analysts' consensus, Farfetch is likely to grow its revenues at approximately 26% over the coming year.

Farfetch is a luxury marketplace. Like all marketplaces, the trick is to get enough buyers to be willing to pay for merchandise. Marketplaces can have wonderful network effects and be awesome businesses if they can keep costs under control.

Throughout the pandemic, we've seen all kinds of marketplaces surface. But very few luxury brands' marketplaces have the presence of Farfetch.

During the earnings call, Farfetch discussed its move to do away with meaningfully discounting its brands. And how this hasn't prevented its guided GMV from continuing to grow at mid-to-high 20s% GMV rates.

Clearly, this is all together leading to an improvement in its bottom-line profitability.

The following figures show Farfetch's profitability profile during 2020:

Farfetch's Press Statement

As you can see above, Farfetch's Q4 2020 adjusted EBITDA stood at 2.2%, which wasn't strong enough to see its full-year 2020 swing to the positive.

Now, compare its progress in 2021:

Farfetch's Press Statement

Every quarter points to a dramatic improvement, with the all-important Q4 quarter firmly sealing the progress that Farfetch made throughout 2021.

What's more, for 2022 as a whole, Farfetch is now guiding for 1% to 2% EBITDA margins.

If we take the midpoint of this estimate, we are going to be looking at approximately $42 million of adjusted EBITDA compared with negative $47 million in 2020 and positive $2 million in 2021.

However, we appraise Farfetch's bottom line, at close to $42 million of EBITDA, it's a meaningful improvement from what was essentially breakeven in 2021.

Before going further, I'll highlight that one of the reasons why I had issued a sell recommendation in the past was that Farfetch was being too quick to dilute shareholders.

To illustrate, compared with Q4 of last year, the total number of shares outstanding has increased by 36% y/y to 473 million.

However, as it stands right now, Farfetch's balance sheet carries approximately $700 million of net cash. This implies that the business has more than enough funds to invest in its growth prospects without having to further dilute shareholders to bolster its capital requirements, at least in the near term.

Next, Farfetch is priced at approximately 185x this year's EBITDA. Clearly, this is a very punchy multiple.

However, the progression that Farfetch has seen over the previous 2 years is inspiring. At the present rate, it's not inconceivable that Farfetch's EBITDA profile could reach $80 million in 2023.

This would put the stock at 96x its 2023 EBITDA. Clearly, still not the cheapest stock out there, but it's the pace of change on its bottom line that matters here more, rather than thinking solely about its multiple.

Farfetch has been a difficult stock for anyone to consider this past year. Including the rally in its share price on Friday of 40%, I suspect that the vast majority of readers are still very much underwater here and unwilling to consider this investment.

And I understand that there are many psychological barriers to overcome before re-considering this investment right now. Once bitten twice shy. Presently, there's a lot of JOMO (Joy of Missing Out). Let's just hope it doesn't turn into FOMO at the worst price point. Whatever you decide, good luck and happy investing.

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Farfetch: I've Changed My Mind, This Starts To Be Interesting - Seeking Alpha