Category Archives: economics

Yuga Labs Says It Does Not Have Copyright Registration Of Bored Ape Images, in New Court Documents

Yuga Labs, the parent company of Bored Ape Yacht Clubsaid in a new court filing that it does not have “copyright registrations” for the 10,000 images that constitution the successful NFT collection.

The new documents were submitted as part of the ongoing lawsuit between Yuga and artist Ryder Ripps, who used images from the BAYC collection for his own NFT collection, titled RR/BAYC.

https://www-artnews-com.cdn.ampproject.org/c/s/www.artnews.com/art-news/news/yuga-labs-admits-to-having-no-copyright-over-bored-ape-yacht-club-nfts-1234655279/amp/

We still use appliances like it’s 1970. There’s a better way.

“If automobiles were regulated to the same extent as household appliances, the average vehicle would be getting 60 miles per gallon and seat nine people,” says Pamela Klyn, an engineer and sustainability executive at Whirlpool, which manufactures 20 million products every year under brands including Whirlpool, Maytag and KitchenAid. Yet these appliances could be saving us even more water, energy and time — if we used them properly.

https://www.washingtonpost.com/climate-environment/2023/01/24/home-appliance-myths-energy-saving-tips/

How the Porsche NFT Drop Crashed and Burned

Collectors called the expensive NFT mint “clueless” but the sports car brand went ahead anyway, yielding a Web3 wreck in progress.

Porsche’s project focused on the German automaker’s iconic 911 sports car, with a planned drop of 7,500 Ethereum NFTs that would celebrate the vehicle and allow holders access to events and exclusive merchandise. It would also let crypto-savvy car junkies vaguely “help design Porsche’s future in the virtual world.”

https://decrypt.co/119912/porsche-nft-drop-crashed-burned

Traditional economic indicators can’t predict the timing of a downturn, but newer forecasting methods are untested.

“The signals are mixed in a way that we haven’t seen before,” says Claudia Sahm, an economist and the founder of Sahm Consulting in Arlington, Virginia. “People say, ‘Historically when this happens, that happens, and then we go into a recession.’ That’s a good starting place, but that shouldn’t be the end place for the analysis.” The former Fed economist came up with her own real-time recession test. Called the Sahm Rule, it holds that when the three-month moving average of the unemployment rate rises by 0.5 percentage point or more relative to the low in the previous 12 months, a downturn has begun. (The current reading doesn’t indicate a recession.)

https://www.bloomberg.com/news/articles/2023-01-25/how-close-is-the-us-to-recession-why-experts-are-struggling-to-predict-it

How ChatGPT Will Destabilize White-Collar Work

In the next five years, it is likely that AI will begin to reduce employment for college-educated workers. As the technology continues to advance, it will be able to perform tasks that were previously thought to require a high level of education and skill. This could lead to a displacement of workers in certain industries, as companies look to cut costs by automating processes. While it is difficult to predict the exact extent of this trend, it is clear that AI will have a significant impact on the job market for college-educated workers. It will be important for individuals to stay up to date on the latest developments in AI and to consider how their skills and expertise can be leveraged in a world where machines are increasingly able to perform many tasks.

https://www.theatlantic.com/ideas/archive/2023/01/chatgpt-ai-economy-automation-jobs/672767/

Why is inflation so high and will it stay that way? An economist explains

The current spike in inflation is described by Donovan as “historical”, but he says it won’t last at these levels for much longer.

It has been provoked by the extraordinary demand for goods in 2021 as countries emerged from lockdowns, shops opened and people were able to go out and buy stuff with money saved during weeks of economic inactivity.

https://www.weforum.org/agenda/2022/05/inflation-rising-economist-explains/?utm_source=linkedin&utm_medium=social_video&utm_term=1_1&utm_content=27198_5_books_inflation&utm_campaign=social_video_2022

Shein to Spend $15 Million on Factories After Labor Abuse Claims

Shein faces growing criticism over its environmental, social and governance record practices, including worker exploitation and copyright theft. The online behemoth has disrupted the fast fashion industry with its sales of £5 ($6.16) t-shirts and £11 dresses. The company was valued at $100 billion in a fundraising round earlier this year, though the figure has probably dropped some since then.

https://www.bloomberg.com/news/articles/2022-12-05/shein-to-spend-15-million-on-factories-after-labor-abuse-claims

Tencent wants you to pay with your palm. What could go wrong?

That’s where Tencent is stepping in. The new tech is undoubtedly appealing as the company competes with Alipay for dominance. And as China continues to grapple with ongoing zero-covid policies that mean people still wear masks and avoid physical contact, allowing people to pay by waving their hands up to a few inches from the camera seems preferable to facial or fingerprint recognition. So by offering users small cash incentives in exchange for their participation and data, Tencent is one step closer to spreading the use of palm-print recognition through everyday life—and on a truly massive scale. 

https://www.technologyreview.com/2022/11/15/1063218/whats-next-biometrics-palm-print-recognition-tencent-we-chat-pay/

50% of Luxury Brands Will Disappear By 2030. What Are The Key Risks?

First of all, what is luxury? A straightforward way to define the term is to think of luxury as the ability to create extreme value for an individual. Hence, no brand ever will be luxury to everyone, but it must have the ability to be of extreme value for some. To create value, which is so high that it becomes non-linear, a luxury brand needs to be fully centered around a specific need of the client. Hence, it’s never about the brand but all about the ability to have a specific role in the life of a client. 

Years of extensive university research and numerous brand and category audits have shown that, fundamentally, brands that manage to achieve such a critical role gain a significant shift in how they are perceived. People who understand the signal of an extreme value-creating brand feel a significant perception shift in several key dimensions related to themselves.

https://jingdaily.com/luxury-brands-disappear-2030-key-risks/